Name of the Project: Innovative Solutions for Enabling Efficient Interactions between SMEs in ICT projects and innovation investors

Acronym: ICT VG

EU Funded Programme: FP7

Project Website: www.ictventuregate.eu

ICT-VentureGate is an FP7 project that aims to facilitate financing of attractive ICT SMEs, which have participated in the Sixth and/or Seventh Framework Programs and are seeking sources of venture capital to commercialise the results of their R&D activities It is working on the creation of innovative

solutions to enable efficient interactions between SMEs in the Framework’s ICT projects and innovation investors, such as business angels and venture capital investors. These activities are coordinated and synergistic with the complementary activities of the ICT-Finance MarketPlace cluster. ICT VentureGate’s concept is based on the following:

•The project is addressing a clear and identifiable target group: SMEs participating in ongoing/just ending Framework Programme projects;
•SMEs may have financing difficulties in investing their own share in the project, but also in utilising and bringing further the project results after the end of the project period;
•SMEs need capital, but they have difficulties in attracting private equity due to the lack of knowledge on financing options, the fear of losing control over their companies and the low quality of their business plan presentation;
•SMEs need to be trained for improving their ability of presenting their business plans in an attractive way to entrepreneurs;
•Innovation investors are interested in projects producing innovative solutions with good business perspectives for the middle-long run;
•Projects financed under European schemes boast stability thanks to the strict rules of implementation and thus have an important added value also after financing ends.
They represent less risks and could be interesting to exploit for innovation investors
•Innovation investors have in most cases a lack of information about European funding schemes and the associated ICT projects and may therefore under estimate the investment potential of these and of the SMEs participating in them.

Role of Paragon
Coordinator, providing overall guidance for the project. Technical content to the platform dissemination.