the fame initiative: access to finance for creative industries

FAME ‐ FACILITATING ACCESS & MOBILISATION OF EUROPEAN FINANCE FOR CREATIVE INDUSTRY GROWTH

TCI ANNUAL GLOBAL CONFERENCE – OCT 18TH

Workshop Title: Creative & cultural industry clusters

The FAME initiative: access to finance for creative industries


Filas support in the life cycle of a company

POR ERDF Spin‐Off start‐up

4M€

POR ERDF Micro‐

innovation30 M €

POR ERDF Voucher schemes4 M €

POR ERDF Venture Capital

20 M €


Rich call for proposal for

R&D projectsand Business Development

Top-down approachtowardsregional

companies

60 M € DTA budget

77 M€ DTB budget

2004 -DTA- Aerospace Technological District2008 - DTB – Bioscience Technological District

Lessonslearnt

Pros• Linkages with large

companies• Big R&D projects

Cons• No sustainability• No direct and clear

impact

FILAS Cluster management - DTA

ADDITIONAL BUDGET2011-2014 DTA- 10 M €

2011-2014 - DTB – 30 M €


Use of EU, national and

regionalfinancial

resources

5 pilot projectslaunched

through call for tenders at EU

level; 10 projects

13 M € budget

2008 -DTC- Cultural Heritage and TourismDistrict

Lessonslearnt

Pros• Creativity applied to

traditionality towardsinnovative sectors(mobile cultural tourism)

Cons • No sustainability

FILAS Cluster management - DTC


DTC – cultural sites

Caprarola Palazzo Farnese 3D reconstructionTalking picturesSound and light show

CerveteriMonumental necropolis Mobile App Virtual reconstruction inside 5 tombsEtruscan story-telling

SperlongaThe imperial villa of Tyberius and the “Coastline of Ulysses”Water Jet Screenings

Digital BusLocal maps with geographic informationGuided tours enhanced by virtual reconstructions Digital SignageSolar PanelsImmersive Video CameraAccessibility for Disabled


Filas - cluster management approach

Challenge

Proposals

Prototypes

SustainabilityScaling

Social and systemic change

The 6 stages of social innovation

Source – elaboration from The Open Book of social innovation – NESTA 2010


The social innovation concept for FILAS

What is desirable to use? What is possible with technology?

What is viable in the marketplace?

INNOVATION:


2012 -DTD- Digital and Creative IndustryDistrict

Launch of a call (addressneed/problem)

Evaluation of best solutions

Small financing, which followstep by stepthe developmentof the project

Little financialresources neededClear sustainabilityDirect results on the

territoryAssessment of real

problems/needs

FILAS Cluster management - DTD


FILAS Venture Capital methodology

Market failure approachBiz/social job creation approach

Good understanding of marketsFast decision makingNeed of a fast ROI

Matching of competencies and moneyClear interlinked roles and actions

Public money Private money


FILAS Venture Capital instrument

Direct co-investment with Biz Angels and private investors

Early stage and expansion support

Smart co-financing mechanism

Subsidiarity and complementarity

20 M € budgetSpin off and spin out


FILAS VC advantages for investors

Risk mitigation

Equity kicker

Independent evaluation

Joint scouting and evaluation phases


The FAME intiative

Facilitating Access & Mobilisation of European finance for Creative industries

FAME


WHY FAME?

From a Regional approach to a…

…Pan-EU approach


FAME objectives

Specialised Coaching, training, tools and in-kind support

Leverage strategy –Co-investment models

Pitching events FAME Pan-EU fund for creative industries

FILLING THE FUNDING GAP

FAME 4 COMPANIES FAME 4 INVESTORS


1. Copenhagen (Denmark) November 12th –14th 2012 - FAME coaching/pitching event in concomitance with the Creative Business Cup finale http://www.creativebusinesscup.com.

2. Heidelberg (Germany) March 19th – 20th 2013 FAME coaching/pitching event in concomitance with the Heidelberg Innovation Forum http://www.heidelberger-innovationsforum.de/index.php?id=139&L=3

3. The 3rd and last FAME coaching & pitching event will be organised in Rome in June/July 2013.

International dimension

Only the best creative industries SMEs

Putting together companies, financial

investors, clusters and stakeholders

FAME next events


Who are we looking for?

Strategic partner organisations to leverage regional/national funds (guarantee, early stage) on Creative Industries


No clear futurebut

strong committment and safe sailing


06/11/2012

the fame initiative: access to finance for creative industries

Economy & Finance