the first-mile incubator of area science park
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Innovation Factory is the first-mile incubator of AREA Science ParkTRANSCRIPT
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Innovation FactoryThe first mile incubator of AREA Science Park
knowledge is a network
Ing. Paolo Cattapan CEO of Innovation Factory s.c.r.l.
Director of the Technology Transfer Department - AREA Science Park
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From European, National and Regional Funds
R&DCOMPETITIVENESS
SYSTEMmethods
2002
2006
2003
2006
to enhance Universities
and R&D Centres results
initiative
a first mile incubator
approach
innovation brokers
on the field
initiative
to train innovation brokers
1997
PROJECTto transfer innovative
products and processesto FVG companies
2001
Quasi-Empresaproject
to move researchersto industry
2001PAT LIB
unitIP management
2001
Business and management
unit
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Life Cycle of a start up company
EXITEXIT
Stage 1
• Inn. Idea• R&D activities
Stage 2
•Patents•Prototypes
Stage 4
FirstSale
Stage 5
Market Established
Pre-seed
Start up risk
Stage 6
•Trade•Sale•IPO
Establishment of the Start-up for IF
Stage 3
FirstProduct
to be launched on the market
Start up ExpansionSeed
Incubators as usual
Start up price
R&D managerial and financialsupport at the very first mile
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The Process
Entrepreneurialtraining
Technical, managerial and financial support
Venture Capital
Scouting and analysis
Establishment of the company
Project Development
Business Plan“Business Dream”
from the Business Dream to the Business Plan
IF supports the Development Group 1 – 1,5 years
IF supports the company 1 – 1,5 years
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Way out
At the end of the pre incubation period of the Group:
Failure: some milestoneshave note beenachieved
The company is notestablished, and InnovationFactory loses its investment
Success: 2 possibleway out
The entrepreneur and InnovationFactory establish the Start up company (the entrepreneur hasalways the control of the company, and IF is a shareholder)
The entrepreneur pays back toInnovation Factory the investment, and becomes the only shareholder ofhis Start up company
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Results
After 2 years work:
• Innovation Factory evaluated 20 project ideas
• 4 Development Groups (20%) have been incubated
• One of these established the first company: AMPED s.r.l.
• We expect ModeFinance to establish the second
company in a few months
• Of the 2 of the other potential companies: 1 doing well – 1 question mark
• Innovation Factory will support 2 other Development
Groups starting from the end of this year
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For more information
Innovation Factory s.c.r.l.AREA Science Park
Padriciano, 99 – 34012 Trieste
Phone +39 [email protected]
www.innovationfactory.it
Thank you for your attention
AMPED FIVEThe New Forensic Image
Processing Software
www.amped.it
AMPED: COMPANY PRESENTATION
Amped develops software for analysis and enhancement of videos for forensic and investigative applications
2005: started as University project , together with scientific investigation units of Carabinieri (RIS of Parma)
2006: won 2° prize at the business plan competition StartCup Trieste 2006
2007: project supported by Innovation Factory
April 2008: Amped SRL officially established2
How many times do we read things such as:“The police has the video of the criminal but the image is too bad to read the license plate”?
AMPED FIVE
One single software for all security‐related tasks: from CCTV enhancement to fingerprint analysis
Complete: more cases solved (better national security)
Fast: dramatically reduces investigation times and costs (more than 90%)
Easy: no need for external specialists
Secure: scientifically documents the processing to certify images to the court
LET’S TAKE A LOOK… 3
THANKS FOR YOUR TIME
Contacts:
Martino JerianAmped SRL, Area Science ParkPadriciano 99, 34012 Trieste, ItalyWeb: www.amped.itMail: [email protected]: 0039.040.3755333Fax: 0039.040.3755335Mobile: 0039.333.4455518
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
modeFinance rating: the right tool to comprehend the financial strengths of
New Europe companies.
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
TodayToday……
Lehman Brothers crackAlitaliaParmalatCirio…
S&P said it cannot rule out cutting Lehman's ratings by more than one notch. A two‐notch downgrade would cut Lehman's current "A" rating, the sixth‐highest investment grade, to the "triple‐B" range.
Tue Sep 9, 2008 2:42pm EDT
NEW YORK (Reuters)
BUT…
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
…… so we needso we need……
New, clear and transparent methods to evaluate the financial risk of companies.
New methods for RATING assessment with new visions:
1.Clear source of information;2.Direct and strong relation between financial figures and final rating;3.Completeness and comparability of data;4.Innovative methodologies .
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
Our solution: MOREOur solution: MOREMulti Objective Rating EvaluationMulti Objective Rating Evaluation
Our innovation: observe, study and evaluate a company as an engineering system, without “a priori”assumptions.
This innovation permits a transparent evaluation of the financial and economical quality of every companies in Europe.
MORE: Multi Objective Rating Evaluation, based on the more recent technologies in engineering design (Decision Theories, Fuzzy Logic, Game Theories).
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
The MORE resultThe MORE result
MORE Rating Class Rating Macro class Assessment
AAAThe company's capacity to meet its financial commitments is extremely strong. The company shows an excellent economic and financial flow and fund equilibrium.
AAThe company has very strong creditworthiness. It also has a goodcapital structure and economic and financial equilibrium. Difference from 'AAA' is slight.
AThe company has a high solvency, The company is however more susceptible to the adverse effects of changes in circumstances and economic conditions than companies in higher rated categories.
BBB
Investment Grade
Capital structure and economic equilibrium are considered adequate. The company's capacity to meet its financial commitments could be affected by serious unfavourable events.
BBA company rated 'BB' is more vulnerable than companies rated 'BBB'. The company faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions.
BThe company presents vulnerable financial signals. Adverse business, financial or economic conditions will be likely to impair the company's capacity to meet its financial commitments.
CCC
Non ‐ Investment Grade
A company rated 'CCC' has a dangerous disequilibrium in its capital structure and financial fundamentals. Adverse market events or inadequate management are highly likely to affect the company's solvency.
CCThe company shows signals of high vulnerability. In the event ofadverse market and economic conditions, the company's strong disequilibrium could increase.
C The company shows considerable danger signs. The company's capacity to meet its financial commitments is very low.
D
Distressed
The company no longer has the capacity to meet its financial commitments.
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
modeFinance & Bureau Van DijkmodeFinance & Bureau Van Dijk
IDCountr
yCountry
# companies evaluated
# ratings assigned
1 AUSTRIA165.311 475.589
2 BELARUS5.091 10.875
3 BELGIUM359.827 2.589.439
4BOSNIA AND HERZEGOVINA
7.085 35.536
5 BULGARIA200.519 965.670
6 CROATIA21.146 164.268
7 CYPRUS387 1.338
8 CZECH REPUBLIC 93.869 301.349
9 DENMARK175.064 716.376
10 ESTONIA70.630 339.593
11 FINLAND82.589 538.909
IDCountry
Country#
companies evaluated
# ratings assigned
…… …… …… ……
…… …… …… ……
33 RUSSIAN FEDERATION 814.840 2.876.654
34 SERBIA21.498 231.488
35 SLOVAKIA10.460 33.734
36 SLOVENIA32.638 68.678
37 SPAIN971.489 4.793.305
38 SWEDEN262.847 2.062.756
39 SWITZERLAND33.912 155.843
40 UKRAINE309.125 1.831.926
41 UNITED KINGDOM 2.354.818 10.845.504
Rating for more than 11 millions of companies in 41 European countries: from Portugal to Ukraine.
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
modeFinance Credit ReportmodeFinance Credit Report
For every European company we produce a credit report to evaluate the financial risk: rating and probability of default.
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
Thanks to its innovative model, modeFinance evaluates every company in Europe: MORE methodology doesn’t need the knowledge of bankrupted companies for the rating and the probability of default attribution.
The modeFinance rating is particularly useful for all the countries where financial information are missing (East Europe).
modeFinance advantagesmodeFinance advantages
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
In order to explain how rating could be useful for public and private institutions we present a study that compares three regions:
•Slovenia•Croatia•TrivenetoWe segregate the companies also according to their turnover.
EuroregioneEuroregione
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
The companies according to turnoversThe companies according to turnovers
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
The Distribution of the companiesThe Distribution of the companies’’ ratingsratings
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
Why the differences in rating?Why the differences in rating?
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
modeFinance ExclusivitymodeFinance Exclusivity
Objectivity
Transparency
Completeness
Lack of knowledge of the used information
No clear explanation of the rating assessment
Rated only “big”companies
Clear source of information: only AMADEUS data
Direct and strong relation between financial figures and final rating
11 million of companies
The others... …but we provide more!
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
modeFinancemodeFinance
• Professor at Mechanical Engineering, University of Trieste, Italy• PhD in Numerical Methods.• modeFinance co‐founderTel: +39 334 6717480email: [email protected]
• Professor at Mechanical Engineering, University of Trieste, Italy• PhD in Numerical Methods.• modeFinance co‐founderTel: +39 334 6717480email: [email protected]
• Advisor for Italian rating agencies• PhD in Corporate Finance• modeFinance co‐founderTel: +39 340 2948054email: [email protected]
• Advisor for Italian rating agencies• PhD in Corporate Finance• modeFinance co‐founderTel: +39 340 2948054email: [email protected]
Valentino Pediroda
Mattia Ciprian
•MBA in Corporate Finance• modeFinance Financial Analyst
email: [email protected]
•MBA in Corporate Finance• modeFinance Financial Analyst
email: [email protected] Dilek
For more information visit: www.modefinance.com or send an e‐mail to: [email protected] Trieste, 26/09/2008
Where we areWhere we are
Trieste, Italy: AREA Science and Technology Park
• The leading Science and Technology Park in Italy• Established in 1978• Key point: only companies with high innovative
technologies.
modeFinance Headquarterbuilding R3, 2nd floor c/o Innovation FactoryAREA Science Park, Padriciano 99 34012 Trieste ITALY Phone1: +39 334 6717480Phone2: +39 340 2948054Fax: +39 040 3755176e‐mail: [email protected]: www.modefinance.com