Aim
The main aim of the proposed ICT VentureGate project is to facilitate access to finance for innovative SMEs in the Framework programme by creating, operating and maintaining a permanent platform allowing for efficient interactions between SMEs and private equity firms. The ICT VentureGate platform will offer various tools to achieve this aim such as: Information gateway for investors and SMEs with the Virtual Agency for Innovation Investments and capacity building via e-training for SMEs on investment financing.
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Objectives
The strategic objectives of ICT VentureGate are to:
- Identify and categorise ICT SMEs participating in FP6/7 projects
- Develop methodology to map innovation risk capital organisations and classify those according to their investment profile
- Establish a single Information Gateway for Investors to allow easy access to information on FP7, rules of participation, best and worst practices and methods for assessment of investment in ICT and also information on running/just-ended ICT projects and participating SMEs
- Establish a Virtual Agency for Innovation Investments to connect demand and offer
- Develop and implement e-training scheme on investment financing for SMEs for improving their investment readiness
- Develop a guide to EU Risk Capital Financing
- Organise a Brokerage Event in Brussels to allow partner matching between SMEs and private investors
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Overview of project activities
ICT Venture Gate will be implemented via a work plan consisting of 7 work packages. Each work package shall fulfill an aim contributing to achieve the overall aim of the project: to facilitate the access to real financing solutions on the private equity market for ICT SMEs participating in ongoing and future FP7 ICT projects.
The work plan will follow a logical structure:
- Identification and classification of the target groups: SMEs participating in FP ICT projects and financing entities,
- Development of services enabling efficient interactions between SMEs and financial organisations: Information gateway for investors and SMEs, Virtual Agency for Innovation Investments and capacity building via e-training for SMEs on investment financing,
- Organisation of events and an efficient dissemination strategy via various means and channels to multiplying the project's results. This strategy shall include an interactive web portal as well as a presentation to the Internet of Things cluster.
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Paragon's Responsibility
Paragon's main responsibilities are related to the overall project management of the project. This includes keeping the project on track through coordination and management activities, day-to-day activities of the project, liasing with EC institutions, organizing project meetings, as well as reporting and submitting deliverables to the EC etc. A robust management strategy has been worked out.
Paragon Europe shall liaise with the responsible partner to organize periodic project meetings as well as in virtual intra consortium meetings in online conferences. Paragon as the lead partner shall also be responsible for coordinating the tasks required between the three awarded projects under this call so as to enforce the synergy efforts required by the Commission.
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Deliverables
The main deliverables of this project are:
- Database of SMEs participating in ICT projects
- Current State of Play Report
- e-trianing curricula, manual and prototype
- Evaluation report on e-training
- Guide to EC Risk Capital Financing
- Methodology Guide for Data Collection and Analysis
- Investors' Database
- Report on Analysis of Private Investors
- ICT value chain navigation platform pilot
- Participation in ICT 2010
- Awareness Raising Campaigns in Partner Countries
- Three Brokerage Events
- Dissemination Plan
- Business Plan for the Sustainability of the E-Training Facilities
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Consortium
The consortium of this project is made up of the following organizations:
- Paragon Ltd - Malta
- APRE Agenzia per la Promozione della Ricerca Europea - Italy
- Euro Consultants Ltd - Israel
- GEONARDO Environmental Technologies Ltd - Hungary
- INVENT - France
- SYNBEA - France
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Other Information
The consortium of ICT VentureGate shall also be collaborating with the consortia of Access-ICT and YMIR projects which has also been awarded under FP7 ICT Call 4 Objective 9.3.
Download our Project Launch Report 2009/2010.
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