78 6 Findings about company (non-)growth from the IW Future Panel...81 6. 1 Methodological explanations...
Questions about (non-)growth in IW Future Panel...106 Annex 3: Worldwide policy initiatives for high-growth SMES...
Section 5. 5.)Findings from the IW Future Panel According to the IW Future Panel, a survey of several thousand German enterprises,
For example, while the US are home to companies such as Google, Microsoft and Amazon which are all fairly young
in order to become the Googles, Microsofts or Amazons of tomorrow. The European commission's Innovation Union Communication of October 2010
IW Future Panel) in early 2011. This panel includes several thousand German companies that replied to a written questionnaire providing information about their business activity and impacts of current economic developments.
The 2011 survey deals with innovation issues and is suited thus very well for questions about innovation-related high growth.
Illustrative examples mentioned in the Bruegel report are founded Microsoft 1975, the US'fourth largest R&d spender), Amgen (1980, tenth largest in R&d) and Cisco (1984, 12th in R&d.
Companies like Microsoft Genetech, Google and Facebook not only grew rapidly but also stimu-28 For recent studies on the issue of determinants of firm growth see Moreno/Casillas (2008);
A population survey of the Global Entrepreneurship Monitor 2010 in 21 innovation-oriented countries asked
The core of the team is made up of the account manager from the regional office in charge and an advisor from the organisation abroad.
and policies to support coaching deserve special attention. 84 Findings from the IW Future Panel do
when its core technology becomes obsolete within a few years. Management often does not understand how to make the transition from customised products for pilot customers to scalable products for larger markets.
Furthermore, findings from the IW Future Panel (see Section 6. 2) indicate that difficult access to finance is not a primary reason for non-growth of companies at least in Germany.
the European commission established a permanent SME Finance Forum to monitor 98 Murray/Hyytinen/Maula (2009),
Policies for high-growth innovative SMES v1. 6 45 Brief. 124 Finally, findings from the IW Future Panel (see Section 6. 2 of this Policy Brief) support the importance
SPRING will co-fund these SMES to train the graduates to run core and expanding operations of the company.
2006) note about the rise of Asian countries in high technology production, the availability of a knowledge-intensive professional service firms that assist start-ups in outsourcing their non-core work plays a significant role in the growth of high
Gazelles are defined as high growth firms which within a five-year period double in size to a minimum of 20 employees or to 10 million Canadian dollars (CAD) in sales or both.
The VC market in Canada collapsed from a peak of 5. 9 billion CAD placed in 2000 to just over 1 billion CAD in each of the past three years. 151 Many technology-based
In Canada total bio investments increased from 210 million CAD in 2009 to 300 million in 2010.154 Description of Canadian capital Financing Market Business Angels Angel financing is dispersed widely across most regions
According to the Canadian Angel Investment Network their members are currently investing over CAD 3 billion in Canadian businesses each year. 155 Venture capital:
VC investments by the VC community in Canada have decreased from a peak of CAD 5. 9 billion dollars in 2000 to just over CAD one billion dollars for each of the past three years (2008-2010.
Indeed for placements of over CAD 5 million dollars over 75%of the funds come from foreign sources.
the total foreign sources have dropped from 41%in 2007 to 26%in 2008 with CAD 549 million dollars to only 22%of the 151 CVCA (2009)
Policies for high-growth innovative SMES v1. 6 70 CAD 334 million dollars in 2nd quarter 2009.
However, a study by Cooper of 2, 240 firms which had received venture capital (CAD 18 billion dollars) between 1995 and 2005 showed much higher levels of gazelles creation at 12%in the 1, 500 technology based firms,
%For firms (193) known to have received VC funding CAD 1. 6 billion dollars including the 156 Source:
The companies that received Magneton support come from different high tech fields, such as communication, biotech, software, new materials.
www. it. themarker. com. Policies for high-growth innovative SMES v1. 6 81 6 Findings about company (non-)growth from the IW Future Panel 6
. 1 Methodological explanations About the IW Future Panel A specific set of questions about reasons for growth and non-growth of SMES, commissioned by the INNOGRIPS, was included in the 16th wave of the IW-Zukunftspanel (IW
Future Panel) of IW Consult, the consulting branch of the Institut der deutschen Wirtschaft (IW, Institute for the German Economy).
164 The IW Future Panel is a survey of German enterprises which was established in 2005 with the objective of identifying trends and challenges of structural changes of the economy.
Companies in the IW Future Panel are more innovative and more export-oriented than the average of German companies.
Breakdowns In all surveys of the IW Future Panel the enterprises are asked about their growth by employment and turnover;
Reasons for high growth of companies in the IW Future Panel 31 49 71 0 19 27 43 25 51 31 20 1720 32
Reasons for non-growth of companies in the IW Future Panel 39 10 40 15 21 11 35 26 20 6 24 45 30
Reasons for growth of young high-growth enterprises (gazelles) in the IW Future Panel 23 55 82 0 32 27 42 24 55 27
Since these factors and their interplay are difficult to monitor, policies favouring specific types of companies are prone to producing more economic damage than benefit. 189 7. 4 Concluding overview Ten policy implications Research for this Policy Brief leads
Global Entrepreneurship Monitor 2007 Global Report on High-Growth Entrepreneurship. GERA: London. Available at http://www. gemconsortium. org/download. asp?
Global Entrepreneurship Monitor (GEM) Länderbericht Deutschland. Hannover/Nuremburg. Policies for high-growth innovative SMES v1. 6 98 Centre for Strategy and Evaluation Services;
Questions about (non-)growth in IW Future Panel The following questions were included in the IW Zukunftspanel (IW Future Panel) in spring 2011.194 Note:
no computer-assisted telephone interviews. Nr. Basis Question/Information Answers 1<Filter for companies growing 20
and financial support to French SMES. http://www. oseo. fr/os eo/oseo in english2**Ireland High Potential Start-up (HPSU) Funding by Enter-The HPSU offers a range of supports for start-up
78 6 Findings about company (non-)growth from the IW Future Panel...81 6. 1 Methodological explanations...
Questions about (non-)growth in IW Future Panel...106 Annex 3: Worldwide policy initiatives for high-growth SMES...
Section 5. 5.)Findings from the IW Future Panel According to the IW Future Panel, a survey of several thousand German enterprises,
For example, while the US are home to companies such as Google, Microsoft and Amazon which are all fairly young
in order to become the Googles, Microsofts or Amazons of tomorrow. The European commission's Innovation Union Communication of October 2010
IW Future Panel) in early 2011. This panel includes several thousand German companies that replied to a written questionnaire providing information about their business activity and impacts of current economic developments.
The 2011 survey deals with innovation issues and is suited thus very well for questions about innovation-related high growth.
Illustrative examples mentioned in the Bruegel report are founded Microsoft 1975, the US'fourth largest R&d spender), Amgen (1980, tenth largest in R&d) and Cisco (1984, 12th in R&d.
Companies like Microsoft Genetech, Google and Facebook not only grew rapidly but also stimu-28 For recent studies on the issue of determinants of firm growth see Moreno/Casillas (2008);
A population survey of the Global Entrepreneurship Monitor 2010 in 21 innovation-oriented countries asked
The core of the team is made up of the account manager from the regional office in charge and an advisor from the organisation abroad.
and policies to support coaching deserve special attention. 84 Findings from the IW Future Panel do
when its core technology becomes obsolete within a few years. Management often does not understand how to make the transition from customised products for pilot customers to scalable products for larger markets.
Furthermore, findings from the IW Future Panel (see Section 6. 2) indicate that difficult access to finance is not a primary reason for non-growth of companies at least in Germany.
the European commission established a permanent SME Finance Forum to monitor 98 Murray/Hyytinen/Maula (2009),
Policies for high-growth innovative SMES v1. 6 45 Brief. 124 Finally, findings from the IW Future Panel (see Section 6. 2 of this Policy Brief) support the importance
SPRING will co-fund these SMES to train the graduates to run core and expanding operations of the company.
2006) note about the rise of Asian countries in high technology production, the availability of a knowledge-intensive professional service firms that assist start-ups in outsourcing their non-core work plays a significant role in the growth of high
Gazelles are defined as high growth firms which within a five-year period double in size to a minimum of 20 employees or to 10 million Canadian dollars (CAD) in sales or both.
The VC market in Canada collapsed from a peak of 5. 9 billion CAD placed in 2000 to just over 1 billion CAD in each of the past three years. 151 Many technology-based
In Canada total bio investments increased from 210 million CAD in 2009 to 300 million in 2010.154 Description of Canadian capital Financing Market Business Angels Angel financing is dispersed widely across most regions
According to the Canadian Angel Investment Network their members are currently investing over CAD 3 billion in Canadian businesses each year. 155 Venture capital:
VC investments by the VC community in Canada have decreased from a peak of CAD 5. 9 billion dollars in 2000 to just over CAD one billion dollars for each of the past three years (2008-2010.
Indeed for placements of over CAD 5 million dollars over 75%of the funds come from foreign sources.
the total foreign sources have dropped from 41%in 2007 to 26%in 2008 with CAD 549 million dollars to only 22%of the 151 CVCA (2009)
Policies for high-growth innovative SMES v1. 6 70 CAD 334 million dollars in 2nd quarter 2009.
However, a study by Cooper of 2, 240 firms which had received venture capital (CAD 18 billion dollars) between 1995 and 2005 showed much higher levels of gazelles creation at 12%in the 1, 500 technology based firms,
%For firms (193) known to have received VC funding CAD 1. 6 billion dollars including the 156 Source:
The companies that received Magneton support come from different high tech fields, such as communication, biotech, software, new materials.
www. it. themarker. com. Policies for high-growth innovative SMES v1. 6 81 6 Findings about company (non-)growth from the IW Future Panel 6
. 1 Methodological explanations About the IW Future Panel A specific set of questions about reasons for growth and non-growth of SMES, commissioned by the INNOGRIPS, was included in the 16th wave of the IW-Zukunftspanel (IW
Future Panel) of IW Consult, the consulting branch of the Institut der deutschen Wirtschaft (IW, Institute for the German Economy).
164 The IW Future Panel is a survey of German enterprises which was established in 2005 with the objective of identifying trends and challenges of structural changes of the economy.
Companies in the IW Future Panel are more innovative and more export-oriented than the average of German companies.
Breakdowns In all surveys of the IW Future Panel the enterprises are asked about their growth by employment and turnover;
Reasons for high growth of companies in the IW Future Panel 31 49 71 0 19 27 43 25 51 31 20 1720 32
Reasons for non-growth of companies in the IW Future Panel 39 10 40 15 21 11 35 26 20 6 24 45 30
Reasons for growth of young high-growth enterprises (gazelles) in the IW Future Panel 23 55 82 0 32 27 42 24 55 27
Since these factors and their interplay are difficult to monitor, policies favouring specific types of companies are prone to producing more economic damage than benefit. 189 7. 4 Concluding overview Ten policy implications Research for this Policy Brief leads
Global Entrepreneurship Monitor 2007 Global Report on High-Growth Entrepreneurship. GERA: London. Available at http://www. gemconsortium. org/download. asp?
Global Entrepreneurship Monitor (GEM) Länderbericht Deutschland. Hannover/Nuremburg. Policies for high-growth innovative SMES v1. 6 98 Centre for Strategy and Evaluation Services;
Questions about (non-)growth in IW Future Panel The following questions were included in the IW Zukunftspanel (IW Future Panel) in spring 2011.194 Note:
no computer-assisted telephone interviews. Nr. Basis Question/Information Answers 1<Filter for companies growing 20
and financial support to French SMES. http://www. oseo. fr/os eo/oseo in english2**Ireland High Potential Start-up (HPSU) Funding by Enter-The HPSU offers a range of supports for start-up
3d & Cultural Heritage 3D PRINTING et COPYRIGHTS 8 15 ICT 22 R&i action (a a) RESEARCH ON COST-EFFECTIVE TECHNOLOGIES FOR ADVANCED 3d MODELLING TO ENHANCE THE UNDERSTANDING
or generated by a wide range of devices or software. H2020 Reflective 7 b 10 19 ICT 22 R&i action (a) H2020-Reflective 7 Budget:
ideas and challenges during the panel discussionbest Practice Sharing at this Workshopimage from Library of Congress This project is funded partially under the ICT Policy Support Programme (ICT PSP) as part of the Competitiveness
As it was impossible to display the full array of relevant RDI data in the core text of this document many of the tables,
zzcf Manufacture of pharmaceuticals zzci Manufacture of computer, electronic and optical products zzcl Manufacture of transport equipment zzcj Manufacture of electrical equipment zzd Electricity, gas
zzinformation and communication services zzmanufacture of pharmaceuticals zzmanufacture of computer, electronic and optical products We may also conclude that Central Hungary does not have a significant weighting within the following sectors/industries:
and with even higher rates of concentration recorded in the above R&d indicators. 14 1. The position of Ce ntral Hungary within the RDI landscape of Hungary The manufacture of computer, electronic and optical
Ce ntral Hungary significantly dominates the manufacture of computer, electronic and optical products compared to the country's other regions. 72,2%91,3%87,1%93,1%100%5, 6%1, 4%22,2%8, 4%10,5%2, 4%5,
The relative share of Budapest, Pest County and the rest of the country of the key indicators of companies engaging in R&d and active in the manufacture of computer, electronic and optical products sector, 2011.
In the above we provided an analysis of the status of regional concentration characterising the manufacturing industry (more particularly of manufacture of pharmaceuticals, the manufacture of computer, electronic and optical products, the manufacture of electrical equipment and the manufacture of transport vehicles
zzcf Manufacture of pharmaceuticals zzci Manufacture of computer, electronic and optical products zzcl Manufacture of pharmaceuticals zzcj Manufacture of electrical equipment zzd Electricity, gas, steam
CI Manufacture of computer, electronic and optical products; CL Manufacture of transport equipment; CJ Manufacture of electrical equipment;
CI Manufacture of computer, electronic and optical products; CL Manufacture of transport equipment; CJ Manufacture of electrical equipment;
the regional influence (sectors display similar distribution patterns), or the sectoral influence (regionality does not have a major influence on the geographic distribution of companies).
The county by county distribution of companies engaged in the sectors of the national economy such as the manufacturing of computer, electronic and optical products, electrical energy, gas and steam supply and air conditioning, water supply, professional
zzmanufacture of computer, electronic and optical products zzelectricity, gas, steam and air-conditioning supply zzwater supply, sewerage, waste management and remediation zzprofessional, scientific, technical activity
The tendencies previously noted in respect to counties become even more clearly accentuated in the context of regional rank correlation analysis. In this context, the pharmaceutical industry displays a significantly negative correlation with other industries/sectors;
and engaged in research or technology development as a core activity. Public organisation: any legal entity thus defined by national laws, or international organisation.
CI Manufacture of computer, electronic and optical products; CL Manufacture of transport equipment; CJ Manufacture of electrical equipment;
CI Manufacture of computer, electronic and optical products; CL Manufacture of transport equipment; CJ Manufacture of electrical equipment;
CI Manufacture of computer, electronic and optical products; CL Manufacture of transport equipment; CJ Manufacture of electrical equipment;
zzmap-based search engine of RDI organisations and businesses zzfinding project partners and mapping project opportunities Kaleidoszkóp is operated by the National Innovation Office RDI Observatory Department.
when the hardware and software used to store them becomes obsolete, material may be lost when storage devices deteriorate over time,
what it really is a collective social endeavour The core of this collaborative effort is deemed to be the entrepreneurial process of discovery Entrepreneurial actors are defined broadly to include universities as well as firms
The population targets for each of the main settlements in the region are set out in Table 3. 2 The Settlement Strategy is to be implemented through the Development Plans of each local authority with the adoption of an evidence-based Core Strategy
Measures to upgrade treatment facilities and to improve drinking water standards must be considered in the context of the Core Strategy
and that each Development Plan contains an evidence-based Core Strategy that will provide relevant information to demonstrate how the plan
The Core Strategy is required to take account of government policy in relation to national and regional population targets and it must provide the policy framework for Local Area Plans and for zoning at LAP level.
The core objective of the Plan is to protect the national heritage as well as promoting it as a resource to be enjoyed by all.
These are the defining issues for a better quality of life for all the core objective of the NDP and of good planning.
The Core Strategy is consistent with the NSS and provides a key planning framework which County/City Development Plans and Local Area Plans must be consistent with.
and to develop a Core Strategy in Development Plans. The Core Strategy should include a section which details the mechanisms by
which Doehlg population targets will be achieved within each local authority. Each Core Strategy should develop rational population growth models,
outline resulting housing demand and determine how this demand will be accommodated through an appropriate housing land zoning requirement
capacity for growth and potential to deliver on the core objectives of critical mass and balanced regional development.
In Development Plans these objectives should be expressed in the Core Strategy. Development Plans should ensure:
-That the population targets are incorporated into the Core Strategy. That land is zoned on the basis of the land required to meet population targets.
The amount of land zoned for development within each settlement should reflect the population assigned for that settlement in the Core Strategy with an additional amount for‘excess'zoning as provided for in the guidelines on zoning contained within the Doehlg Guidelines for Planning Authorities
Development of first class office space that will serve as a centre for the development of the software and internationally traded services in the region Enterprise Ireland;
In the context of sectoral convergence, core skills become transferable across sectors, for example, biology, chemistry, engineering, electronics, logistics and software;
and more recently, software development have provided a strong base to build strong enterprises (both indigenous and foreign in origin) within the region, particularly in Medical Technologies, Food Processing, Pharmaceuticals and International & Financial services.
This should be a core priority of the regional enterprise forum, with support from a cross-regional Gateway Implementation Group action at both regional and national levels.
sustainable neighbourhood design and the pedestrianisation of core urban areas. Development Plan Implications (Ports) Planning authorities whose functional areas include the larger commercial ports should consider the need to develop Local Area Plans for the ports through
Development Plan Implications (Water Services) The provision of water and sewerage facilities in the settlements of the region and the provision of water supplies in its rural areas must be considered in the context of the Core Strategy
A core objective of the current Social Partnership Agreement is to build a fair and inclusive society
Recommendations by a Business Panel on future EU innovation policy Supported by an online debate at http://blogs. ec. europa. eu/innovationunlimited/We propose to base EU action around compelling social challenges
and new types of partnerships REINVENT EUROPE THROUGH INNOVATION FROM A KNOWLEDGE SOCIETY TO AN INNOVATION SOCIETY 2 The Business Panel on future EU innovation policy was established by DG Enterprise
The members of the Panel are: Diogo Vasconcelos (Chair), Distinguished Fellow, Cisco systems International Dr Anne Stenros, Design Director (Vice president, Design), KONE Corporation Gianfranco Corini, President, NEXT
Bank (member of KBC Group) The panel was supported by a rapporteur: Professor Maureen Mckelvey, Professor of Industrial Management, School of business, Economics and Law, University of Gothenburg.
The panel would like to thank all those who participated in the online consultation from July to August 2009
and eff ort in discussing ideas with the panel and reviewing the document, in particular: Carlos Costa, Jacques Darcy, Jean-Michel Deligny, Tom Fleming, Maruja Gutierrez Diaz, Mats Gunnarsson, Agnes Hubert, Richard Hudson, John Kao
Finally the panel would thank the support, encouragement and independence provided by Francoise Le Bail, Jean-Nöel Durvy, Peter Dröll, Sandra Kramer and Keith Sequeira at DG Enterprise and Industry.
The ideas presented in this report are those of the panel and do not refl ect the offi cial position of the European commission Directorate General for Enterprise and Industry.
Innovation should be core to fi nancial institutions, with the European Investment Bank (EIB) becoming a European Innovation Bank.
The ideas in this report were created co through a series of meetings by the panel and involved external thought leaders,
Executive director and Cofounder, The Lisbon Council The Business Panel's recommendations speak to all European citizens, not just to policy makers or entrepreneurs.
Here the Business Panel is providing exactly the kind of fresh and strategic thinking which Europe needs
as a network of European third sector leaders, welcome the recommendations of the Business Panel on the future EU innovation policy.
Filippo Addari, Executive director of Euclid Network The report by the Business Panel on future EU innovation policy outlines in clear and certain terms the social innovation imperative.
In Europe, we have a longstanding culture of innovation and a commitment to creativity as a core tool for prosperity and social cohesion.
from closed processes to the power of networks 3) The future starts at the end of this sentence About the panel Appendix:
Throughout the Panels'discussions we have returned and been inspired by the image of a sea star. This started with the book by Brafman
and creativity Cope with the future societal challenges Invest strategically in the future Implement Community level actions Leverage the power of networks and social innovation The Ideas of the Panel New Types of Collaboration New Financing
Modelsfuture Infrastructures Speed and Synchronization Broad Concept of Innovation The Value Proposition of the Panel's ideas PARTNERSHIP TRANSPARENCY ACCESS OPENNESS PEOPLE The Challenges for EU Innovation Policy
Future Technologies (Possibilities and Risks) Social Exclusion (Future of Young) Climate Change (Sustainability) Changing Demographics (Ageing Population) Sustainable Cities (Urbanisation) The Impacts of the Panel
Open source ways of working and IT solutions are part of the answer. We propose: Ambitious European initiatives with synchronised actions around the major challenges, engaging actors across the innovation chain, coordinating supply and demand of innovations,
But simply investing in hardware (lines cables, transformers etc. is not enough. The potential of smart grids must be unlocked with new applications, solutions,
Innovation should be core to fi nancial institutions, with the European Investment Bank (EIB) becoming a European Innovation Bank failures are a necessary aspect of innovation processes.
and together to create the future we want. uture sen 29 About the panel The Business Panel on Innovation was established by DG Enterprise
supported, and stimulated us as an independent panel. They wanted a fresh look at innovation, bringing in competencies and people from outside the‘usual'Brussels circles.
as this has lead to a most unusual experience for us All the Panel has functioned well
Professor Maureen Mckelvey, Professor of Industrial Management, School of business, Economics and Law, University of Gothenburg. 30 Mandate of the panel Context:
The panel will be supported by a rapporteur who will be selected by DG Enterprise and Industry. Timeline, operation and reimbursements:
or two meetings as hearings where a wider range of stakeholders can present views to the panel.
Information obtained through participation in the panel will be confi dential. DG Enterprise and Industry will be responsible for publishing the report of the panel.
Members will not be reimbursed other than for travel and subsistence expenses. 31 In essence the Panel starts with a simple but powerful concept, namely that innovation,
technology and entrepreneurship will stimulate long-term growth and thereby change our economy and society. The Panel has worked with the notion that innovation will create a new future,
as also refl ected by the fact that we choose John Kao's defi nition that innovation is about capabilities for creating the future.
It places the concepts and ideas developed by the Panel for Innovation, in relation to some literature and debates on innovation and innovation policies. 32 The main points from this quote are
The recommendations of the Panel are focused very much upon how public policy can stimulate the relationships between industry
10 The discussion in the Panel covered a similar broad range of policies and stressed the need for creative thinking about public policy.
The precise roles of policies and governance at European, national, regional and local levels in order to realize the recommendations was not part of the Panel's mandate
The Business Panel on Innovation often discusses radical innovations, and these can be contrasted with incremental innovations.
The Panel has stressed primarily that public policy needs to focus more on innovation, in that it off er key opportunities to solve grand societal challenges.
The Panel has used the notion that public policy can help change the fi nal results
and synchronization of services and hardware in public services. Perhaps one can say that our view is that public policy can contribute to open processes in society. 11 This does not mean that public policy sets all the agendas
It is clear from the Panel's ideas that radically new thinking is needed to think about the types of competencies, access to ideas,
The Lisbon Council The Business Panel's recommendations speak to all European citizens, not just to policy makers or entrepreneurs In summary,
Tom Fleming, Consultant on creativity and economic development This report and the work of the panel were supported by DG Enterprise and Industry as part of the preparations for a new European innovation policy.
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