GENERAL SECRETARIAT FOR RESERCH AND TECHNOLOGY CREATION OF SPIN-OFF COMPANIES PROGRAM “PRAXE” VASSILIS KALERIDIS DIRECTORATE OF TECHNOLOGICAL DEVELOPMENT DEPARTMENT OF TECHNOLOGICAL INFORMATION, TRAINING AND CULTURE

SPIN-OFF COMPANY DEFINITION ΟECD DEFINITION : “…any new firm which includes a public sector or university employee as a founder…” GREEK INTERPRETATION: 1. RESEARCHERS FROM GREECE OR ABROAD WHO HAVE THE KNOW-HOW FOR THE CREATION OF NEW PRODUCTS AND SERVICES BASED ON SCIENTIFIC RESULTS 2. PUBLIC INTITUTIONS PROMOTING KNOWLEDGE (universities, technological institutions, research institutions)

PROGRAMME: PRAXE SUPPORT OF RESEARCH UNITS FOR STANDARDISATION AND COMMERCIAL EXPLOITATION OF RESEARCH RESULTS. TWO PHASES ARE INCLUDED: PHASE Α’ : INVESTMENT PREPARATION ACTIVITIES PHASE Β’ : INVESTMENT INITIATION ACTIVITIES

LEGAL FRAMEWORK PRESIDENTIAL DEGREE 17/2001 and LAW 2919/01 PHASE A’ FOLLOWS DE MINIMIS RULE. PHASE Β’ FOLLOWS STATE AID N.412/2002 APPROVED BY THE EUROPEAN COMMITTEE (SG(2002) D/232893).

STATUS THE RESEARCH RESULTS CANNOT BE TRANSFORMED IN INNOVATIVE PRODUCTS OR SERVICES REASONS: NO LEGAL FRAMEWORK LACK OF ENTERPENEURIAL MENTALITY AMONG GREEK RESEARCHERS ΕXTREMELY HESITANT FINANCIAL MARKET INCLUDING VENTURE CAPITALS

PUBLIC EXPENDITURE BUDGET PHASE A’ : € (100% public expenditure) PHASE Β’ : € € (1st round) [expired 31/12/2004] € (2nd round) SCHEDULE FOR PHASE B’ NEXT ROUND  BASIC INFORMATION ON GSRT SITE SINCE APRIL 2005  CALL FOR PROPOSALS - BY THE END OF JUNE 2005  EXPIRY OF THE CALL - 20/9/2005  EVALUATION - ΟCTOBER 2005  CONTRACTS – ΝΟVEMBER 2005  1 ST INSTALMENT - DECEMBER 2005

TOTAL BUDGET € PUBLIC & PRIVATE EXPENDITURE PUBLIC EXPENDITURE € PRIVATE EXPENDITURE > € 70 % OF THE PUBLIC EXPENDITURE FINANCED BY EUROPEAN FUND FOR REGIONAL DEVELOPMENT (E.F.R.D.)

PROGRAM DETAILS PHASE Α’ SEED CAPITAL (FEASIBILITY OF A SPIN-OFF COMPANY CREATION) UP TO € DURATION: UP TO 18 MONTHS PHASE Β’ INVESTMENT INITIATION (ESTABLISHMENT OF A SPIN-OFF COMPANY) UP TO € PUBLIC SUBSIDY WITH - AT LEAST - EQUAL PRIVATE PARTICIPATION DURATION: UP TO 36 MONTHS

MAIN ACTIVITIES OF PHASE A’ BUSINESS PLAN CREATION INTELLECTUAL RIGHTS FORTIFICATION PROMOTION OF THE RESEARCH RESULT (PARTICIPATION AT EXCIBITIONS, PUBLICITY ACTIVITIES ETC) PERFECTION OF PRODUCTS OR SERVICES AESTHETIC AND INDUSTRIAL DESIGN OF PRODUCTS AND SERVICES SEARCH FOR FINANCIAL CONTRIBUTORS AND INVESTORS

MAIN ACTIVITIES OF PHASE B’ FINANCES THE ESTABLISHMENT OF THE SPIN-OFF COMPANY FOR THE FIRST 3 YEARS OF THEIR DEVELOPMENT : EXPENDITURE FOR EQUIPMENT AND OFFICES CONSULTANCY SERVICES ( ONLY FOR SMEs SPIN OFFS ) AND NECESSARY OPERATING COSTS ( ONLY FOR SMEs SPIN OFFS )

TARGETS & RESULTS PHASE Α’ : 210 PROJECTS PHASE Β’ : >30 SPIN-OFF COMPANIES 226 HAVE BEEN FINANCED BY THE END OF THE 1 st ROUND 16 HAVE BEEN APPROVED 8 HAVE BEEN FINANCED

PHASE A’ ACCEPTED PROJECTS PER SCIENTIFIC SUBJECT INFORMATICS35 MECHANICS33 MEDICINE / BIOLOGY29 PHARMACOLOGY25 MATERIALS19 ENVIRONMENT15 FOOD / AGRICULTURE14 BIOMEDICAL / BIOMECHANICAL ENGINEERING 12 MICRO / NANO TECHNOLOGY11

PRAXE A’ ACCEPTED PROJECTS PER GEOGRAPHICAL DISTRICT ATTICA 118 CRETE 34 WESTERN GREECE 28 CENTRAL MACEDONIA 23 THESSALY 6 EPIRUS 5 PELOPONNESE 4 THRACE 4 CENTRAL GREECE 2

PHASE B’ ACCEPTED PROJECTS PER SCIENTIFIC SUBJECT INFORMATICS6 ΕNERGY3 BIOMEDICAL TECHNOLOGY2 MEDICINE 2 LASER 2 AGRICULTURAL TECHNOLOGY1

PRAXE B’ ACCEPTED PROJECTS PER GEOGRAPHICAL DISTRICT ATTICA 12 CENTRAL MACEDONIA 3 EPIRUS 1

TWO PHASE LINKAGE UP TO THE END OF THE 1 ST ROUND 9 BETWEEN 16 APPROVED SPIN-OFF COMPANIES STEM FROM PHASE A’ SEVERAL SPIN-OFF COMPANIES ALREADY EXIST WITHOUT PARTICIPATING IN PHASE B’ SIGNIFICANT INTEREST ABOUT THE 2 ND ROUND OF PHASE B’

COMPARISON TO SIMILAR PROGRAMS IN E.U. DOMINANT FEATURE : SPIN-OFF COMPANIES BY UNIVERSITIES 308 SIMILAR PROGRAMS AROUND E.U. «SWEDISH MODEL» : PLANNING AND IMPLENTATION OF SPIN-OFF COMPANIES BY PREFECTURES OR EVEN BY MUNICIPALITIES! ΕMPHASIS TO “NETWORKING”, MENTORING AND SPECIAL MANAGEMENT TRAINING TO RESEARCHERS AND GRADUATES

GSRT OBJECTIVES BY IMPLEMENTING PRAXE BUSINESS PLANS PROJECTS FOR POSSIBLE SPIN- OFF COMPANIES BY RESEARCHERS AND RESEARCH INSTITUTES JOB CREATION FOR HIGH-LEVEL SCIENTIFIC PERSONNEL RESULTS – DRIVEN ORIENTATION OVERALL IMPACT OF THE PROGRAM COOPERATION OF STAKEHOLDERS OF THE GREEK INNOVATION SYSTEM

GSRT OBJECTIVES BY IMPLEMENTING PHASE B’ (2 ND ROUND) INNOVATIVE IDEAS WITH ADDED VALUE INTELLECTUAL RIGHTS AND EXPLOITATION RIGHTS OF THE RESEARCHERS COMPLETE AND REALISTIC BUSINESS PLANS EFFICIENT SCIENTIFIC AND MANAGERIAL STAFF VIABLE KNOWLEDGE INTENSIVE SMEs AFTER THE EXPIRY OF THE PROGRAM