” Using modern financial instruments, we support the commercialization of research results of Polish scientists – we have allocation of 450 million euros. Money from the Fund in 10 VC funds will invest in small and medium sized companies working in the field of new technologies. Providing Polish entrepreneurs in capital funds to the high risk they create conditions for development and the link to market success,” said Vice-Premier, Minister of science and higher education Jaroslaw Gowin, present during the signing of the agreement.
“it is important to note That the purpose of the activities generated funds of VC will not only support the development required for innovation companies, as well as the development of the best economic results, increasing income from investments. Thus we increase the positive impact of the BRIdge VC on the development of our economy,” he added.
BRIdge VC is a new program to support commercialization of industrial research and development with the involvement of capital, a high degree of risk already in the early stages of project financing. Its purpose is to increase the commercialization of research and development in Poland through the cooperation of NCBR and individuals from Poland and abroad. The same is filled diagnosed in our market, the vulnerability of capital in financing innovative, high-tech projects and companies, it noted.
“Began with a completely different floor than the most innovative at the present time, the States that had the opportunity and time for development and implementation of effective instruments of financial support of innovative economy. In countries such as Korea or the United States, this occurs largely by attracting private capital, including large companies and corporate VC funds, which have experience in investing in start-UPS and technology companies. We, however, on his way to catch up with the world powers, and ultimately to the philosophy of artificial. I am convinced that today launched the initiative in the near future will bring tangible results and will contribute to the growth of competitiveness of our economy and its dynamic development”, – said Deputy Prime Minister, Minister of development and Finance Mateusz Morawiecki, quoted in the message.
It NCBR Fund of Funds will be to manage a professional obtained from the market Manager. This function will be performed by PFR Ventures, working in conjunction with the TFI BGK. The capitalization of the Fund will amount to 450 million euros, of which half of the funds will come from NCBR in the framework of the Intellectual Development and the remaining 50 % will be contributed by private investors. On the basis of the agreements signed today NCBR adds to the expense of the Foundation, the transzą in the amount of 25 million euros.
Revealed through the NCBR Fund Manager, in accordance with the adopted Strategy of Investment activity during the year may select about 10 teams with relevant experience and potential for investment in the company portfolio. They will be managed by VC funds specializing in investments in companies developing advanced technologies based on Polish innovative solutions explained.
the Created VC funds will support research and development and commercialization of their results through the financing of investment projects with high risk profile in the form of capital investments in technology companies from the sector of SMALL and medium business. Each of VC funds is to dispose of the budget from 20 to 50 million euros. The term of the investment will end after 4 years, after which the funds will focus on portfolio development and conduct the most cost effective exit strategy from the investment, specified in the message.
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