Venture
Capitalist firms already coming on board to provide finance for
companies to use innovative technologies as low risk.
Lyon,
France (May 3, 2013) -- A long term strategic plan by the
European Commission (EC) to rebuild the European economy by investing
in the development of new technologies is now reached the stage where
it will start to have an impact as it reaches the commercialisation
phase. The EU is proposing to make several billion Euros available
for companies to enable this to happen as a key part of the new EC
Horizon 2020 programme, which starts in 2014 and replaces FP7 and
CIP. Crucially, a part of this support is aimed at entrepreneurs,
start-ups and SMEs because these are seen as providing the engine for
the economic recovery as, being nimble and fast, they can bring these
new innovative technologies to market quickly.
Since
2003, more than €400 million has been co-invested by the European
Commission into more than 130 European research projects to develop
innovative, Smart Systems technologies to reinforce European
scientific excellence and competitiveness. This specific area of
Smart Systems can deliver significant competitive advantages across a
wide range of application fields such as Life Sciences, IT &
Telecoms, Agrofood, Environment and Energy. More than 50 projects
have now reached the stage of promising contacts with investors and
customers, and are on their way to commercialisation. This is all
co-ordinated in the Smart System area by the COWIN initiative, which
is dedicated to encourage the transfer of IP, and the formation and
growth of young companies.
Laszlo
Csernak, COWIN's Project Officer, explained, "In order to
compete in the global marketplace, European companies need to be able
to offer solutions that are significantly better. They cannot compete
on price with the emerging economies that have low labour costs so
the best way to have a competitive edge is to build in intelligence
to create smarter products. Usually this takes the form of advanced
miniature electronics often with state of the art sensors to provide
awareness of what is going on so that immediate responses can be
instigated - Smart Systems. As this is a pan-European program, we are
able to bring together research groups and companies from all over
Europe to contribute parts of a solution forming an interlocking
jigsaw that would never happen any other way. New synergies and
working relationships have been fostered between countries and
companies that are flourishing with the exchange of ideas that
stimulates further innovation. It is a very real example of the
European Union working together and achieving incredible, tangible
results with what is probably its most important initiative that will
really make a difference in terms of economic growth and jobs
throughout the EU."
Geraldine
Andrieux-Gustin, the COWIN coordinator, added, "In mid 2012, we
started match-making advanced technologies that we have selected to
companies who approached us looking for solutions to their technology
challenges. We are now in active discussion with over 300 European
companies with more contacting us every day. Part of our service is
to mentor entrepreneurs and small companies with a whole range of
advice from help with business plans to devising a strong position in
the competitive landscape. COWIN is having great success with many of
the innovative technologies developed during EU projects being taken
up by companies and being used to generate sales. COWIN is also
mentoring over 20 start-up companies to support their growth
strategies and business development."
Pierre
Marro, Policy Officer at the EC, explained, "The EC recognises
that these small to medium sized companies are the champions of
tomorrow and we want to help them grow and be successful. Currently,
EC programmes and projects required several companies from a minimum
of three different countries to co-operate. The new EC Horizon 2020
is being finalised at the moment. This is being designed to add a
completely new package with simplified procedures and without these
constraints of co-operations to specifically provide new technologies
holders with help in starting and running companies right through to
finance help. Lack of finance has been a stumbling block in the past
due to the economic crisis, so a key new service in Horizon 2020 will
be dedicated to providing access to finance with new instruments
dedicated to SMEs and access to risk financing that will really help
companies grow quickly and create new jobs and economic wealth."
Meantime,
COWIN is co-ordinating a VC finance programme for 2013. Over twenty
of Europe's leading Venture Capitalist firms are supporting COWIN to
help entrepreneurship in Europe and will be taking part in the COWIN
Investment Place this summer which will bring
together VC firms and companies that are seeking finance this year.
COWIN is also planning a series of webinars that will also facilitate
finding VC funding and also bring in business angels and family
offices. "The VCs are really keen to be involved,"
explained Geraldine Andrieux-Gustin, "because the risk element
is greatly reduced because all the technologies have proved
themselves to be commercially ready. It is now a question of making
successful businesses based on them. The VCs and the COWIN team can
provide the expertise and finance to help companies make that happen
so that these innovative technologies can be quickly commercialised
and start generating jobs and money in the EU."
Further
information on COWIN can be found at http://www.cowin4u.eu
COWIN
contact details are Geraldine Andrieux-Gustin, Andrieux@yole.fr
Press
contact is Nigel Robson, Vortex PR, +44 1481 233080,
nigel@vortexpr.com
About
COWIN
Launched
in 2010 under the 7th Framework Program, COWIN is a support action
dedicated to strengthening European competitiveness in miniaturized
smart systems. The initiative is focused on the commercial
exploitation of advanced technologies developed in the framework of
European collaborative research projects. COWIN's mission is to
facilitate take-up of those advanced technologies worthy of
investment, in order to capture innovation, win new markets and make
a profit.
All
trademarks are the property of their respective owners.
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