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“Launching of a BAN in Madrid: key learnings” Edinburgh, 6 October 2005 EUROPEAN INNOVATION WORKSHOP “Launching a BAN in Madrid: key learnings” Edinburgh,

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Presentation on theme: "“Launching of a BAN in Madrid: key learnings” Edinburgh, 6 October 2005 EUROPEAN INNOVATION WORKSHOP “Launching a BAN in Madrid: key learnings” Edinburgh,"— Presentation transcript:

1 “Launching of a BAN in Madrid: key learnings” Edinburgh, 6 October 2005 EUROPEAN INNOVATION WORKSHOP “Launching a BAN in Madrid: key learnings” Edinburgh, 6 October 2005 Miguel Palacios Universidad Politécnica de Madrid (Madri+d System)

2 “Launching of a BAN in Madrid: key learnings” Edinburgh, 6 October 2005 1. Introduction to the project A PAXIS success story Stuttgart Madrid Cambridge BAN Madri+d created and adapted to the Madrid environment. Focused on NTBF. Big expectations among investors and project suppliers. Started the discussion over BANs in Madrid. Subsequently 4 other BANs in the process of launching (IE, IESE, ESADE and IMADE). First two investments already made during the summer. Other in process. BAN Madri+d created and adapted to the Madrid environment. Focused on NTBF. Big expectations among investors and project suppliers. Started the discussion over BANs in Madrid. Subsequently 4 other BANs in the process of launching (IE, IESE, ESADE and IMADE). First two investments already made during the summer. Other in process. MAIN RESULTS This BAN results on the close cooperation between Stuttgart and Madrid, within the SPRING II project. Stockholm

3 “Launching of a BAN in Madrid: key learnings” Edinburgh, 6 October 2005 2. Critical factor Integration within regional development model The BAN integrates with the regional entrepreneurship support model and in that way favors high quality dealflow. Regional Environment NTBF Support Mechanisms NTBF Support Strategies Feedback Intellectual Capital Analysis Mapping of NTBF Support Strategies Mapping of Existing Support Strategies OUTPUTS - New regional BAN - New training tools - Coordination with institutions SPRING II European Benchmarking Model on MFE Location in Framework

4 “Launching of a BAN in Madrid: key learnings” Edinburgh, 6 October 2005 3. Key success factors and obstacles PAXIS (Spring II) support: Existing operating models Model design methodology testing Advice on steps to follow Rigorous methodology and reputed implementers (credibility and weight in the region) Integration with existing region entrepreneurship support model (idea contests, training and tutoring, integrated regional model). PAXIS (Spring II) support: Existing operating models Model design methodology testing Advice on steps to follow Rigorous methodology and reputed implementers (credibility and weight in the region) Integration with existing region entrepreneurship support model (idea contests, training and tutoring, integrated regional model). KEY SUCCES FACTORS Financial commitment until the model is self sustainable (estimated : 6-8 years) for operations Convincing systematic project developers (universities, research centers) of “let-go” their projects in order for them to get financing Financial commitment until the model is self sustainable (estimated : 6-8 years) for operations Convincing systematic project developers (universities, research centers) of “let-go” their projects in order for them to get financing MAIN DIFFICULTIES Knowledge (PAXIS), local adaptation and implementers reputation have been critical for success

5 “Launching of a BAN in Madrid: key learnings” Edinburgh, 6 October 2005 4. Next steps Successfully expand the model to other European countries 1) PAXIS has made possible the development of several BANs in Madrid. There is now the potential to transfer this methodology to less advanced investment environments in Europe. 2) Guaranteeing quality deal flow is crucial for BANs. Business Plan Competitions and other measures should be studied to foster entrepreneurship in universities and research centers, wherever a BAN is implemented. 1) PAXIS has made possible the development of several BANs in Madrid. There is now the potential to transfer this methodology to less advanced investment environments in Europe. 2) Guaranteeing quality deal flow is crucial for BANs. Business Plan Competitions and other measures should be studied to foster entrepreneurship in universities and research centers, wherever a BAN is implemented.


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