1 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) Strengthening & materialising creativity: The role of business incubators (Promotech, Nancy, France) Prof. Dr. Emmanuel Muller Fraunhofer Institute for Systems and Innovation Research University of Applied Sciences, Heidelberg

2 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) Business incubators: a definition (source: NBIA) “A business incubator is an economic development tool designed to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services.” Business incubators are already present in the Autonomous Province of Trento : - BIC Rovereto - BIC Pergine -...

3 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) Leading questions: A. Why ? Why are business incubators promoted in different regions and countries ? B. How ? How can the success of some incubators be explained ? C. What ? What could be the contribution of business incubators to the development of the Autonomous Province of Trento? What are the critical issues for Trento? (Vision Trento 2014?)

4 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) Why business incubators ? Support entrepreneurship and local job creation Diversification and strengthening of the local economy Activation of knowledge transfer (spin-offs, technology transfer, reinforcement of academia-enterprise relationships) -

5 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) Why business incubators ? Key elements (in the view point of start ups/ tenant companies) Tangible elements Intangible elements Flexible space Shared equipment Surrounding infrastructure Access to capital Accompanying management services Access to knowledge Image and public relations

6 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) How does it work? The case of PROMOTECH Location : Technopole Nancy-Brabois

7 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) How does it work? The case of PROMOTECH History : creation of PROMOTECH (as an association) : PROMOTECH is labelled as BIC (European Commission / DG XVI ) : implantation on the Technopole Nancy-Brabois : ISO 9001 certification (for the whole spectrum of activities) /2001: extension of the activity of PROMOTECH on several sites of the Nancy area

8 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) How does it work? The case of PROMOTECH Spectrum of activities -Promotion of entrepreneurship (in universities, research organisations & firms) - Firms’ creation support (personalised advises, training, business plan conception,...) - Accompaniment of newly created firms (sheltering, supporting services, monitoring, networking,...) -Project brokering and technology transfer support - Local economic promotion (within the Nancy area as well as on behalf of further European regions)

9 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) How does it work? The case of PROMOTECH Key success factors -Comprehensive services (unique, at least in north-eastern part of France) -Location on the technopole Nancy-Brabois (image and infrastructure) -Evolution of the working profile over the years (notably due to a shift of the attitude of local universities and research organisations) -Policy determination -Time

10 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) How does it work? General principles characterising effective business incubation -Clear aims -Tenants selection and maximal duration policies -Quality and diversity of services (“good mix”) -Evaluation -Mid and long term financial sustainability

11 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) What are the critical issues? Universities Promoters Business incubators Coordinator Former Founders Banks VCs Business Angels / BANs Spin-Offs Private Companies Other Partners State, Regional Development Agencies Press, Media Shared vision of the future : the place of business incubators in Trento 2014 ?

12 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) What are the critical issues? Critical issue #1: business incubators and networking BI = intermediary organisations evolving in a local context (no one way-causality) Critical issue #2: business incubators and knowledge BI = “knowledge catching & knowledge generating” institutions Critical issue #3: business incubators and access to capital BI = “windows to capital” for tenant firms ( e.g. mobilisation of private equity capital)

13 Fraunhofer ISI Institute Systems and Innovation Research Trentino plus 10 Foresight Workshop July 2003 (Trento) The Ancients and the Moderns “Many say we now live in an ‘information’ economy or ‘knowledge’ economy. But what’s much more fundamentally true is that we now have an economy powered by human creativity. For creativity is the decisive source of competitive advantage.” Richard Florida, The Rise of the Creative Class “E però lo uomo respettivo, quando elli è tempo di venire allo impeto, non lo sa fare; donde rovina: ché, se si mutassi di natura con li tempi e con le cose, non si muterebbe fortuna. “ Niccolò Machiavelli, Il Principe