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ESTER

Objective

A methodology for the creation of effective seed and venture capital sources for the high-tech industry in Latvia, Estonia and the Slovak Republic by implementing the proven success factors of the Yozma and Technological Incubator Programmes.

Description of the project:
Ester is the natural continuation of the IFISE project that validated the Yozma and Technological Incubator Programmes aimed at nurturing a venture capital industry and establishing technological incubators. Principles of these programmes will be transferred and implemented in three Newly Associated Countries (NACs):
- Latvia;
- Estonia;
- Slovak Republic.

The aim is to plan for efficient public programmes that will create seed and venture capital sources for new high tech enterprises in the NACs. It is hoped that the project will result in the preparation, submission and promotion of official proposals for the creation of seed and venture capital sources within the NACs, to the regional, national and European institutions.

Focus will be on the problems specific to the transition economies. An adaptation methodology, aiding the transition of the Israeli programmes to the context of the newly associated countries, will be applied to obstacles such as the relative lack of entrepreneurial culture and the low level of existing scientific infrastructures.

Completion of the project should provide identification of those sectors within the NACs that have the potential produce high concentrations of entrepreneurial activity. Analysis of these sectors will then be undertaken in the hope of understanding the particular characteristics and needs of each sector and of identifying the barriers that financial operators may face in investing in innovative start-ups.

Milestones and expected results:
%- Identification of sectors with potential entrepreneur concentrations and of barriers in the business and legal environment of the three regions;
- Completion of field surveys analysing the needs and perspectives of all market actors in relation to the Israeli incubators strategy in former planned economies;
- Completion of the planning phase, submission of formal proposals and widespread dissemination of results.

Coordinator

UNIVERSITA DEGLI STUDI DI PAVIA
Address

271 Pavia
Italy

Participants (8)

BIC Bratislava
Slovakia
ENTERPRISE ESTONIA
Estonia
Address
Liivalaia 13/15
Ernst and Young Estonia
Estonia
Ernst and Young Latvia
Latvia
Latvia Development Agency
Latvia
Mr. Yigal Erlich
Israel
National Agency for Development of SMEs
Slovakia
UNIVERSITY OF HAIFA
Israel
Address
Mt. Carmel