rafal styczen, iif @ tmt.ventures'09 warsaw
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How EU funding help IIF companies grow
TMT Ventures’09 Warsaw 5th March 2009
TOGETHER
16 mil. PLN
(4 mil. EUR)
EU funds in IIF Group
IIF GROUP
IIF SEED FUND SOFTWARE MIND PERSONAL SENSE
MONETTO
WROOM
SCOOL
MEBLE
PERSONAL TV
PERYSKOP
Mobile CRM system with sales
recommendation module
WE KNOW IT
2007-2008 2008 - 2011
2007
12 mil. PLN
SPO WKP 1.2.3
2.8 mil PLN
7th Framework Programme
0.4 mil PLN
SPO WKP 1.4.12007
0.8 mil PLN
SPO WKP 1.4.1
Summary
Company / project Programme Amount (mil. PLN) Year IIF Group IIF Seed Fund SPO WKP 1.2.3 10,75 2007-2008 Monetto, Wroom, Scool, meble.pl, Personal TV, Peryskop Personal Sense SPO WKP 1.4.1 0,4 2007 TOTAL IIF 11,15
Software Mind WeKnowIt 7th Framework 2,8 2008-2011
Mobile CRM SPO WKP 1.4.1 0,8 2007
TOTAL Software Mind 3,6
TOTAL IIF GROUP 14,75 Milions PLN
New Programmes to be addressed
•Operational Programme Innovative Economy (Program Operacyjny – Innowacyjna gospodarka POIG)
• Information society – increase of innovativeness of economy (Społeczeństwo informacyjne – zwiększanie innowacyjności gospodarki)
• Supporting business in the field of electronic digital economy (Wspieranie działalności gospodarczej w dziedzinie gospodarki elektronicznej)
New Programmes
Pros and cons
Obtaining EU funding – pros and cons
+ - Access capital for expansion Rigid and lengthy procedures
(qualified costs from the project submission – risk of not receive funding)
Extremely easy to get Objectives and plans are inconstant in R&D projects
Non–refundable funding (after filling special criteria)
Hard to predict development for seed and start-up projects
Money for R&D stage (rarely included in standard budget)
5 years period of project continuation (i.e. force commercialization)
Developing Poland in high-tech direction
Detailed project specification required
IIF Seed Fund
• Seed and startup financing• EU funds leveraged 50%• Up to 1 mil. EUR single investment• So far investments in 6 projects:(Monetto, Wroom, Scool, Meble, Personal TV, Peryskop)
• Investment sectors• e-commerce• software development and services• new electronic media• consumer finance
WROOM – IIF Seed Fund
• Classified agregation of automotive advertisments• Leader in vertical search engines in European automotive industry• International expansion – currently in Poland and Germany• New countries soon • Second most popular automotive site in Poland • November 2008 (6 month from launch):
• over 0,8 mil. users • 3,5 mil. page views
• Addtional information about motorcycles, lorries and other vehicles• Search engine for tires
• Leader on furniture market
• Plans to become Ikea of the Internet
• Development towards complex site with interior equipment
• Horizontal and vertical expansion
• Winner of WebStar 2008 award, granted by Academy of Internet
• 5th place in GEMIUS/PBI Research
• 0,7 mil. users
• 10 mil. page views
• E-commerce profits from Dec.2008 reached 0,6 mil. PLN
MEBLE – IIF Seed Fund
• Virtual shopping advisor
• Recommend products on the basis of millions product reviews and technical data
• Millons authentic product reviews in one place
• Analyze Reviews from the whole Internet
• Used technology analyzes every gathered review to determine the best products
• Innovative global product
• Beta version – April 2009
PERYSKOP – IIF Seed Fund
• An advanced recommendation technology based on sophisticated A.I. algorithms applicable to numerous vertical markets• „Long Tail” activation• Improved retention rate• Two-fold increase in revenue per customer
It is used by many high-profile customers.
e_CommerceRecommendations and personalized Internet
Content
IPTVPersonal content rating and
Personal Program Guide
Personal TV – IIF Seed Fund
• Romanian social utility
• Potential to recreate success of Facebook and Nasza Klasa in Romania
• Scool.ro provides a virtual meeting ground for school friends
• Unique way of sharing school memories
• The social utility targets students as well as their parents
• IIF investment in August 2008
SCOOL – IIF Seed Fund
• Social lending platform• Launched March 2008 • Loans granted: 1,1 mil. PLN• Registered users: 10 000
Monetto offers:• interest rates higher than in banks (for lenders as well as for borrowers)• capital guarantee• using social mechanisms
MONETTO – IIF Seed Fund
• Recommendation technology based on sophisticated algorithms
• Personalization is responsible for more than 35% sales
• Use of recommendation technology:– interactive TV
– e-commerce
• Two years R&D
• Project co-financed from UE funds
• Technology and platform architecture for recommendations, interaction and personalization of multimedia content and services offered electronically
• SPO WKP 1.4.1
• Funding: 0.4 mil. PLN
Personal Sense – IIF
• Leader in Semantic Web solution• Software house acting globally• Employment 100+ people• 2008 sales: 11.7 mil. PLN• EBITDA: 3 mil. PLN • Key clients of Software Mind
Research UE PROGRAMME: • SPO WKP 1.4.1• Design, creation and pilot implementation of mobile CRM system with sales recommendation module• Funding: 0.8 mil. PLN
SOFTWAREMIND
• Project "WeKnowIt” uses wide experience andSoftware Mind knowledge in the field ofsemantic web solutions• Seventh Framework Programme of the European Community for Research, Technological Development and Demonstration Activities• Emerging, Collective Intelligence for personal, organizational and social use• The main objective of WeKnowIt is to:
– develop novel techniques for exploiting multiple layers of intelligence from user-contributed content, which together constitute Collective Intelligence
WeKnowIt – SOFTWAREMIND
Rafał StyczeńCEO
IIF S.A.Bociana 22a31-231 Kraków
Tel. 012 614 51 73
www.iif.pl
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