Joe Greaney, Director of WESTBIC Galway, presented Funding Innovation at the Irish Times Innovation cities road show 2012 held on Friday 2nd November 2012 at National University of Ireland, Galway.

1. 1
Irish Times Innovation
Road Show
Funding Innovation, Joe Greaney
Director, WESTBIC
President, EBN
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
BICs, a Knowledge Transfer tool for
smart Innovation‐based regions
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
Joe Greaney
EBN President, Brussels
CEO of WESTBIC, Galway (Ireland)

2. 2
The EBN Network
a community sharing values, goals & brands
• The European Network of BICs, incubators, innovation and
entrepreneurship & start‐up Centres >>> « Innovation‐based
incubators » >>> Business & Innovation Centres (BICs)
• An organised Network of 200+ Business & Innovation Support
Centres covering most regions of EU 27 + neighbouring as well as
partnering countries
• An initiative taken 25 years ago by the EC (DG Regio), public
authorities, industry leaders, and Universities >>> A pioneer in
PPP, a connector between knowledge and business
• A dynamic cluster of clusters with 25.000+ entrepreneurs within
the active portfolio >> > with Village Tronic, Exilica, Vivalis, Lipotec,
Codasystem, Semiotix, Biofly, BioAzul, Kandor Graphics, Leica
Geosystems, Jamendo, etc inside
• A community of qualified & committed intermediaries, with St‐
John Innovation Centre, Cap Alpha, Innostart, Promotech, Innotek,
Knowledge Dock, Solvay Entrepreneurs, Technoport, Innovatum,
Berytech, Technowest, and KRAKOW technology park inside !
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
The portrait of a BIC
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
(part 1)
• A light and flexible structure (8 to 12 staff + outsourced experts)
• Predominantly a public body, but highly representative of the
private sector as well! (Legal status: 51% public, 14% mixed private‐public,
35 % private)
• A regional and international “networker” :
• Universities, Science Parks and R&D institutions
• Chambers of Commerce & Regional Development Agencies
• Large Companies and Investors
• Public Institutions
• Highly focused on innovative entrepreneurship, increasingly in:
• ICT, Telecom and Mobile Apps
• Energy, Environment and Cleantech
• Life Sciences and Biotech
• Mecatronics and Software Apps

3. 3
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
WESTBIC
EU - Business & Innovation Centre
in the
Border, Midland and Western
Region, Ireland
Joe Greaney
Director
EU Licensed BIC – European Mandate
Allocated by Quality Audit to over 150 selected BIC’s in the EU
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
European Network

4. 4
Association of Irish BIC’s
DUBLIN BIC
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
This image cannot cur ently be displayed.
NORIBIC
CROSS
BORDER BIC
CORK BIC SEBIC
All-Ireland Approach – Regionally adapted
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
This image cannot cur ently be displayed.
WESTBIC Sub-Regions
Regional Network
Foxford
Galway
Sligo
Letterkenny
Kilcar
Athlone
NUIG
GMIT
GMIT,
Castlebar
AIT
LYIT
Sligo IT
Roscommon
Tullamore
Longford
WESTBIC Office Locations
Third Level Colleges/Institutes
Tuam

5. 5
Applied Innovation
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
Partners
Open Innovation
Business Development Path
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
(Risk)
Screening Feasibility
Study
Technical
Testing
Prototyping
&
Market
Research
Mkt Testing FinanceCOMMERCIALISATION
Cost
Managing Risk for Start-ups

6. 6
Galway Technology Centre
Cross-Border BIC
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
multimedia subcontractor
Cross-Border Business Innovation Centre
Fiontarlann Incubator – Donegal
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu

7. 7
Integrated range of services + facilities to create the right environment for start-ups to be
commercialised and grow.
NETWORKING
KNOWLEDGE
SHARING
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
ICT TRAINING
MEETING
FACILITIES
MANAGED
CENTRE
FLEXIBLE
SPACE
OPTIONS
CENTRAL
LOCATION
WESTBIC
BUSINESS
SUPPORT
INTEGRATED
ICT
NETWORK
FLEXIBLE
AGREEMENTS
SME
GTC CONCEPT
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
THE CUBE
Flexible desk space, virtual office and hot desking options for
early-stage enterprises.
Desk on a monthly roll-over basis
Hot desk by the hour/day + monthly packages
Virtual Office – address/mail/telephone service
Connected: Each desk is connected to the Centre’s ICT
Network, providing in-built high speed internet access,
telephony services and firewall security for users.
Facilities: Users also have full access to all Galway
Technology Centre services
.
Affordable: Competitive Licence agreements on a monthly
rollover basis.

8. 8
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
SOFT LANDINGS
Support for start-ups aiming to internationalise
(part of EBN Soft Landings initiative)
Initiative includes:
• hard infrastructure access: broadband, phones, desk, business address,
meeting rooms etc.
• tailored soft support: market research, introductions to key players, access
local knowledge and financial/legal/technical expertise.
Support for Corporate Clients seeking to Locate in the Region
Initiative includes:
• quick set-up: office/phones/broadband/meeting rooms, short stay, flexible
office options.
• customised ICT solutions.
• examples: EA Games, SAP, Cisco, Lumension
ITech Lazio, Rome
Cross-Border BIC
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
multimedia subcontractor
Cross-Border Business Innovation Centre

9. 9
Aston Science Park, Birmingham
Cross-Border BIC
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
multimedia subcontractor
Cross-Border Business Innovation Centre
CEIN Navarra
Cross-Border BIC
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
multimedia subcontractor
Cross-Border Business Innovation Centre

10. 10
INNOTEK, Belgium
Cross-Border BIC
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
multimedia subcontractor
Cross-Border Business Innovation Centre
CEEI Synergia, Caen, France
Cross-Border BIC
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
multimedia subcontractor
Cross-Border Business Innovation Centre

11. 11
SGF Niklasdorf
Cross-Border BIC
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
multimedia subcontractor
Cross-Border Business Innovation Centre
Provision of Seed Capital
BICs pioneered Seed Capital Initiative in Ireland
 1991 Business Innovation Fund
 1998 Dublin Seed Capital Fund
 1999 Irish BICs Seed Capital Fund
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
Private Sector Involvement

12. 12
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu

13. 13
€ Value of Deals Complete
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
Deals Done
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu

14. 14
Growing The Halo Business Angel
Partnership in Galway
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
Financial
Capital
Knowledge
Capital
Business &
Technology
Expertise
Innovation
Social
Development
Economic
Development
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu

15. 15
Horizon 2020
 3.5 Billion for Financial
Instruments and accompanying
measures
33% dedicated to SME’s
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
Leverage effect of x 5
Horizon 2020 (continued)
 Two financing facilities available:
– Debt (Loans, guarantees etc)
– Equity (focus on early stage SMEs)
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
 SMEs Treatment
– Competitive
– Business Oriented
– Creating impact.

16. 16
Business Angels Intervention
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
CAPITAL
NEEDS
SUSTAINED
GROWTH
HIGH RISK
LOW RISK
Friends, Family,
Founders
Business Angels
Formal Venture
Capital
BANK FINANCE
GROWTH
Seed /
Start up
Early
Stage
Growth
Potential
evident.
SUSTAINED
GROWTH
Time
MORTALITY OF NEW IDEAS BY
STAGE OF EVOLUTION
0 20 30 40 50 60 80 90 100% TIME
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
0
60
50
40
30
20
10
10 70
Screening
Business Analysis
Technical
Development
MARKET
TESTING COMMERCIALIZATION
IDEAS
mortality curve
one
business
success

17. 17
PRE-COMMERCIALIZATION
EXPENDITURE
total expenditure curve
100
90
80
70
60
50
40
30
20
10
0 20 30 40 50 60 80 90 100% TIME
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
10 70
Screening Technical
Development
MARKET
TESTING COMMERCIALIZATION
MORTALITY OF NEW IDEAS BY STAGE
TOTAL EXPENDITURES
100
90
80
70
60
50
40
30
20
0 20 30 40 50 60 80 90 100% TIME
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
0
60
50
40
30
20
10
10 70
Screening
Business Analysis
Technical
Development
MARKET
TESTING COMMERCIALIZATION
IDEAS
mortality curve
one
business
success
10
total expenditure curve
CAPITAL
DIFFERENTIAL
OF EVOLUTION

18. 18
DEMAND SURVEY
SUMMARY OF SURVEY
159 responses from innovative
enterprise across the BMW
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
region
SERVICES REQUIRED
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu

19. 19
Sources of Innovation Support
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
Main Criteria for Choosing
Service Provider
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu

20. 20
BARRIERS TO INNOVATION
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu
Human / Social Dimension
EBN – European BIC Network
Avenue de Tervuren, 168. B – 1150 Bruxelles
Phone: + 32 2 772 89 00 - Fax: +32 2 772 95 74
E-mail: ebn@ebn.eu – Internet : www.ebn.eu