Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Programme 2007 - 2013 South East Europe

Date of latest update: 2024-05-11

Description

Description (EN):

Innovation is a key driver of Europe's competitiveness and growth. However, young and innovative SMEs face bottlenecks when trying to grow. They are disadvantaged when it comes to attracting external financing if they cannot find equity since they do not usually have the track-record or collateral often required by financial intermediaries and banks. In today?s competitive markets, the use and protection of these intellectual assets is therefore one of the key determinants of success and failure. Firms therefore need to manage these assets more actively to identify additional ways of extracting value from them. The entrepreneurs do not always understand the commercial value of Intellectual assets fo their enterprise, they do not establish proper valutation by professionals and often do not understand the requirements for proper accounting and balance sheet treatment. On the other side, even if investors acknowledge the importance of IP strategy in ensuring a company?s survival and success, for many of them it comes well down on the list of factors they screen in their due diligence process. At the same time, must be underlined that exploiting home-grown IP is a key to achieve the Lisbon goals of employment and growth based on innovation and entrepreneurship. While much has been done to investigate how tangible assets can leverage debt and equity instruments and improve raising finance for SMEs, the question on how Intellectual Assets, particularly IP, can be used as an asset to secure finance remains somewhat neglected. IA and IP may be the main(or only) asset that a technology-based SMEs company has. However, while investors generally acknowledge the importance of IP to company?s success, they are often not willing to use it as collateral for providing finance. Reasons for this include the intangible nature of IP and difficulties on placing a value to it. Especially these aspects are deeply investigate by EVLIA Project, that will develop a dedicated methodology for the financial and economical evaluation of Intangible Assets of SMEs in strict agreement with financial stakeholders. From the SME perspective, the lack of finance required to grow may lead to serious difficulties or to ceasing of operations. According to the state of the art indicated above, the purpose of this project is to examine ways to tackling this problem, implement a standardize methodology and test its effectiveness with the involvemnet of Financial intermediaries. Main topics of the project are: - Intellectual Assets and IP valutation as a basis for raising finance and the experience of companies and financial institution on this field - investigate the role of IP and IA securisation and their impact on innovative SMEs when trying to access to financial markets - the development of a standardize methodology aiming at evaluation intangible assets from the financial and economical point of view and its application at national and local level according to specific and peculiar needs assessed. - the elaboration of a new role of financial players, such as venture capitalists, business angels, banks and credit rating agencies when assessing IA and particularly IP -the development of local networks composed by stakeholders, BIOs and financial intermediaries in charge to test firstly the new methodology of evaluation and then develop new local plans for continue and strenghten the IA evaluation - the strict connection with public policy makers (particularly NPOs) in seeking to alleviate the problem

Achievements (EN):

EVLIA tool Trademarks, brands, patents, know how are some of the most relevant Intangible Assets that micro, small and medium enterprises could exploit to ease the access to financing for their innovation processes. Therefore, EVLIA project implemented a service dedicated to the valorization and evaluation of SME’s Intangible Assets, in order to find out the added value of their intangible resources and how they can increase their business. In the framework of EVLIA service for the valorization and evaluation of Intangible Assets, entrepreneurs and companies are invited, through a letter of invitation, to discover and analyze the Intangible Assets they have with the support of the pre-analysis questionnaire, that can be found on the Support2finance platform. In order to continue its path towards the valorization of Intangible Assets, the enterprise is encouraged to have a check-up meeting with a qualified expert in the themes of Intellectual Property valuation, in order to deepen the analysis and define the position of the SME, considering and evaluating also other business data and relevant accounting documents, as the Business Plan. EVLIA project elaborated a training package to improve the knowledge of the operators from the SEE partner countries. These operators will be involved in the pilot actions and they should take part in two kind of trainings: • Front desk training: in every project countries partners will organize local one or two trainings. • E-learning: every operator take part on an online training to deepen their knowledge received on the front desk training. The e-learning platform is available here: www.support2finance.eu

Thematic information

Clustering and economic cooperation SME and entrepreneurship

Partners (15)

Lead Partner: Camera di Commercio Industria Artigianato e Agricoltura di Venezia

Address: 8 Via Banchina Molini,, 30175 Venezia, Italy

Legal status: n/a

Austria Wirtschaftsservice Gesellschaft mbH

Name: Austria Wirtschaftsservice Gesellschaft mbH

Address: 37 Ungargasse,, 1030 Wien, Austria

Legal status: n/a

UNIVERSITA' CA' FOSCARI VENEZIA

Name: UNIVERSITA' CA' FOSCARI VENEZIA

Address: 3246 Dorsoduro,, 30123 Venezia, Italy

Legal status: n/a

Economica Institut für Wirtschaftsforschung

Name: Economica Institut für Wirtschaftsforschung

Address: 29 Schottenfeldgasse,, 1070 Wien, Austria

Legal status: n/a

Universitatea "Lucian Blaga" din Sibiu

Name: Universitatea "Lucian Blaga" din Sibiu

Address: 10 Victoriei Blvd.,, 550024 Sibiu, Romania

Legal status: n/a

Institut Jozef Stefan

Name: Institut Jozef Stefan

Address: 39 Jamova,, 1000 Ljubljana, Slovenia

Legal status: n/a

Javna agencija Republike Slovenije za spodbujanje podjetništva, inovativnosti, razvoja, investicij in turizma

Name: Javna agencija Republike Slovenije za spodbujanje podjetništva, inovativnosti, razvoja, investicij in turizma

Address: 13 Dimiceva,, 1000 Ljubljana, Slovenia

Legal status: n/a

Εμπορικό και Βιομηχανικό Επιμελητήριο Αθηνών

Name: Εμπορικό και Βιομηχανικό Επιμελητήριο Αθηνών

Address: 7 Akadimias Street,, 10671 Athens, Greece

Legal status: n/a

Poslovno-inovacijska agencija Republike Hrvatske

Name: Poslovno-inovacijska agencija Republike Hrvatske

Address: 1 Planinska,, 10000 Zagreb, Croatia

Legal status: n/a

Pécsi Tudományegyetem

Name: Pécsi Tudományegyetem

Address: 4 Vasvári P. Street,, 7622 Pécs, Hungary

Legal status: n/a

Pécs-Baranyai Kereskedelmi és Iparkamara

Name: Pécs-Baranyai Kereskedelmi és Iparkamara

Address: 36 Majorossy I.,, 7635 Pécs, Hungary

Legal status: n/a

Euro Perspectives Foundation

Name: Euro Perspectives Foundation

Address: 124-G, entr. A, ap.8, fl.2 "Tsar Boris the 3rd" blvd.,, 1612 Sofia, Bulgaria

Legal status: n/a

Unita' di Progetto Ricerca ed Innovazione - Regione del Veneto

Name: Unita' di Progetto Ricerca ed Innovazione - Regione del Veneto

Address: 23 Fondamenta Santa Lucia - Cannaregio,, 30121 Venezia, Italy

Legal status: n/a

Unitatea Executiva Pentru Finantarea Invatamantului Superior, a Cercetarii Dezvoltarii si Inovarii

Name: Unitatea Executiva Pentru Finantarea Invatamantului Superior, a Cercetarii Dezvoltarii si Inovarii

Address: 21-25 Mendeleev, Str. Sector 1,, 10362 Bucharest, Romania

Legal status: n/a

Privredna komora Beograda

Name: Privredna komora Beograda

Address: 12 Kneza Milosa,, 11000 Belgrade, Serbia

Legal status: n/a

Partners map

Partners and Projects info

Austria Business Service

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Partners and Projects info

Camera di Commercio Industria Artigianato e Agricoltura di Venezia

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Partners and Projects info

Ca Foscari University of Venice

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

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ECONOMICA Institut für Wirtschaftsforschung

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

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Lucian Blaga University of Sibiu

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Partners and Projects info

Jozef Stefan Institute

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Partners and Projects info

Javna agencija Republike Slovenije za spodbujanje podjetništva, inovativnosti, razvoja, investicij in turizma

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Partners and Projects info

EMPORIKO KAI VIOMICHANIKO EPIMELITIRIO ATHINON

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

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Poslovno-inovacijska agencija Republike Hrvatske

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

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University of Pécs

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

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Chamber of Commerce and Industry of Pécs- Baranya

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Partners and Projects info

Euro Perspectives Foundation

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Partners and Projects info

Unita' di Progetto Ricerca ed Innovazione - Regione del Veneto

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Partners and Projects info

Executive Agency for Higher Education, Research, Development and Innovation Funding

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Partners and Projects info

Privredna komora Beograda

Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Lead partner

Project partner

Summary

Project name (EN): Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Project acronym: EVLIA

Project start date: 2012-11-01

Project end date: 2014-10-31

Project status: closed

Total budget/expenditure: EUR 1 920 100.00

Total EU funding (amount): EUR 1 632 085.00

Co-financing sources:

Information regarding the data in keep.eu on the programme financing this project

Financing programme

2007 - 2013 South East Europe

Latest month of project-partner-call data publication

2015-12

No. of projects in keep.eu / Total no. of projects (% of projects in keep.eu)

122 / 122 (100%)

No. of project partnerships in keep.eu / Total no. of project partnerships (% of project partnerships in keep.eu)

1 809 / 1 809 (100%)

Notes on the data

Information provided by the Programme. In the case with the partners' addresses, the information was collected from the partners' websites

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Making full value of good ideas by leveraging intellectual assets for financing SMEs in SEE

Description

Thematic information

Partners (15)

Partners map

Summary

Information regarding the data in keep.eu on the programme financing this project

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