Summit on Innovation National Science and Technology Council Washington, DC November 30, 1999 Dr. Peter L. Levin TVM Techno Venture Management TECHNO VENTURE MANAGEMENT
Page 2Washington - White House - 29 December, Peter Levinwww.tvmvc.com TVM Techno Venture Management Offices in Munich & Boston Founded in 1984; TVM I, TVM II, TVM III, TVM IV funds 160+ investments in D, USA, F, CH, UK, A, E 40+ IPOs Have built 22 international companies $480 million under current management
Page 3Washington - White House - 29 December, Peter Levinwww.tvmvc.com TVM Focus Information Technology Software Computer - Network Components and Systems Telecommunication IT-Services and E-commerce Life Sciences Genomics and Chemistry Drug Delivery Systems Tissue Engineering and Replacement Medicine Bioinformatics
Page 4Washington - White House - 29 December, Peter Levinwww.tvmvc.com What Venture Capitalists Look For MARKET large and growing space few or no incumbents typically non-branded products and services intelligent, adaptable positioning channel occupation/expansion TVM brings strategic value, especially for trans-Atlantic opportunities FINANCE TEAMMARKETIDEA DEAL TEAM expertise experience prior success structure leadership, management, and technical positions advisory board and external relationships FINANCE sensible valuation, reasonable terms sustainable burn rate clearly defined, achievable milestones qualified syndication partners IDEA represents dramatic technical improvement or innovative constellation of services reasonable barrier to entry fortified by intellectual property protection speed to market complements or enhances existing products available from large suppliers scalable
Page 5Washington - White House - 29 December, Peter Levinwww.tvmvc.com Levels of Innovation, and Government’s Role components devices systems networksdesignmanufacture integration assembly The design, prototyping, manufacture, distribution and even sales at different levels of hierarchy are increasingly facilitated by ubiquitous and inexpen- sive electronic networks. services phoneradiotve-printe-com Government regulation of access and licensing, facilitation of standards and technical performance requirements. Government protection of fair market access, intellectual property, transparent tax structure and product safety.
Page 6Washington - White House - 29 December, Peter Levinwww.tvmvc.com Where Government and VC Drive Innovation Exchange of Goods & Services Universities Corporate Labs Entrepreneurs Government Labs Research Investments Education Advanced IT services Public sector procurement Protection of intellectual property Equal opportunity to access markets Regulation, taxation, and product safety NEWIDEAS NEW IDEAS Demand Commercialization and technology transfer Forming relationships and alliances that enable new market entrants Help create new sectors
Page 7Washington - White House - 29 December, Peter Levinwww.tvmvc.com Sustained Opportunities in the “New Economy” PublicHealth InformationInfrastructure National Security
Page 8Washington - White House - 29 December, Peter Levinwww.tvmvc.com Incentives for Innovation Infrastructure vibrant and active centers where new ideas can be developed and explored; training new participants Technology transfer mechanisms access to publicly funded break throughs, transparent and enforceable regulations that promote innovation and protect public interest Commercial access fair and transparent negotiations with incumbent owners of wire-line assets; US access to foreign markets