IPP
SUPPORT FOR
PROJECTS OF NEW
COMPANIES AND
INNOVATION
SYSTEM DEVELOPERS
IPP CO-CREATION WORKSHOPS IN JANUARY 2015
PHASED APPROACH
Stage 1
• The applicants will apply first for the first phase of
funding, the resourcing grant, for the first 6 - 9
months of the innovation work
• Includes Fast Track Innovation Training Program.
• By the end of the first phase, teams will be
welcome to apply for an additional resourcing
grant to continue their development activity.
Stage 2
• Additional resourcing grant for continuation of the
development activity
TWO TYPES OF PROJECTS
• New innovative growth company projects
(new company is a spin-off, start-up, new joint company, etc)
- to plan and execute innovation projects
- to develop highly innovative products and services to
international markets
• Innovation system development projects
- executed by consortia of stakeholders in local innovation
system
- to do innovation ecosystem development projects
- to develop local innovation system and/or local innovation hub
- to support new innovative growth companies
IPP’S SUPPORT IN 2015
Training
• 6 months Innovation Fast Track part time training program
• Required participation of all teams who receive IPP funding
Connections to people, resources and markets
Seed and early stage co-funding with a grant
• The first stage is 6-9 month
• Project involves planning, finding the key resources, connections,
gaining more understanding and preparing the next stages
• Grant money will be paid based on paid costs: re-imbursement
• Accepted costs: Human resource costs, both internal project team
and external expertise and services bought for the project.
• Preliminary maximum levels of grant funding:
• Product/service: 70%, max funding 30 000 EUR / 750 M VND
Innovation system: 70%, max funding 50 000 EUR / 750 M VND for
all consortia members together
IPP’S SUPPORT LATER
• Additional funding for the most promising
teams and organizations who IPP supported
in 2015
• New funding call for new teams and
organizations for funding, training, etc
STEPS TOWARDS GRANT FUNDING
• Interaction with IPP
• Workshops: Jan and Feb/March 2015
• Prepare your project plan, including business planning
• Prepare the project proposal (funding application)
• IPP will launch the funding call in the spring 2015
• If you receive support, make the funding agreement with IPP,
participate in Fast Track Innovation Training program, and
develop your innovation / solution for 6-9 months
• Later, apply for additional funding
• If you don’t receive support the first time, you are welcome to
apply in the next round next end 2015
WHO CAN APPLY AND FOR WHAT
New innovative growth company projects:
•
A new innovative company can apply for the grant OR
•
a team of at least three members can apply if they commit to
establish a company in the first 6 months upon receiving the
grant decision.
•
The team and its project must work on new innovative solution
(product or service) targeting international markets
•
This is not for innovations that are improvements to existing
products, or innovations that lower the production costs of
existing products.
•
The solution and related business model cannot be a direct copy
of something that exists already.
•
New company: Must be a legal Vietnamese company. No product
or service on the market, yet. No limitations regarding ownership.
•
At least three project’s core team members participate in the
Innovation Fast Track part time training program.
•
The cost of the training can be part of the budget of the project
supported by IPP
WHO CAN APPLY AND FOR WHAT
Innovation system developers:
•
A consortium executes an innovation system development
project.
•
One or more organizations in the consortium can apply for the
resourcing grant together.
•
Each consortium member interested in IPP’s grants file in their
own grant proposal
•
A joint project plan to describe the project executed by the
consortium.
•
Vietnamese organizations who represent the innovation
ecosystem in a region in Vietnam can apply for funding.
•
Foreign organizations can be part of consortia.
•
The consortium must be open for collaboration with any
needed partners nationally and internationally.
•
At least three individuals from core project team participate in
the Innovation Fast Track training program of IPP
TYPES OF PROJECTS TO BE
SUPPORTED
Company projects:
•
IPP will provide a resourcing grant for new innovative companies for the
first stages in the development of their new innovative products or
services to international markets.
Innovation system projects:
•
IPP will provide resourcing grants for Innovation System Development
Projects for the first stages in the development of the local innovation
ecosystems in Vietnam.
•
Development of better services for new innovative growth companies.
•
The potential content of the projects may include, but are not limited to:
development of a new incubator
•
creation of new services for existing incubators
•
planning of a new funding program in the province
•
adding startup services to existing technology park
•
initiating a regional cluster growth program
WHAT IS NOT FUNDED
The funding for projects in this call is not meant for:
• organizations who are not legal Vietnamese entities
• ideas that are in research or early stage of the
development of product/service
• projects where participants are not bringing in their
own funding
• directly copying something that exists on the
market already
• project content no innovation
• project where organization/s do not have enough
financial and legal capability
SELECTION CRITERIA
The awarding of Resourcing Grants will be based on competitive,
transparent and fair evaluation process that will ensure the best
innovation projects and the best teams will be chosen to be awarded
the resourcing grants.
Company projects:
•
The applications will be evaluated based on project team,
financial feasibility (and co-funding by entrepreneurs and their
investors), collaboration, market and user needs, solution
(product or service), benefits and customer value, competition,
budget and finances, and effect of IPP funding.
Innovation system projects:
•
The applications will be evaluated based on project team, cofunding, collaboration, needs in the innovation ecosystem and in
the new innovative companies in the region, solution to be
developed, benefits, positioning, budget and finances, and effect
of IPP funding
SELECTION PROCESS
• early and continuous
• the decision making process and internal roles are
based on best practices in European countries
• marketing events and capacity building workshops to
educate and help potential applicants to define the
ideas and prepare the applications
• expressions of interest to start interaction with IPP
• members of evaluation teams and IPP interact with the
applicants in the beginning of the evaluation process,
before the decision making, after the decision has been
made and throughout the execution of the projects
• the evaluation teams include experts from IPP
stakeholders and national & international expert
network.
FREQUENTLY QUESTIONS AND
ANSWERS
Can be found on the website of IPP:
WWW.IPP.VN
FQA
1. We are not start-up/new company (Reasons: we are an existing company/ we haven’t started company yet/etc.), can we send EoI and join IPP co-creation event?
Answer: Yes. It is important to have new company/entity at the time of funding contract, not now.
2. Consortium is needed for inno-system development. we are only one org, can we join?
Answer: yes, if you are open for to cooperation we’ll see if IPP can match you with other possible partners to form a new consortium.
3. We are wondering if our products/services are good enough for IPP support ?(and a long description of their product/services followed)
Answer: Please send EoI to info@ipp.vn and join us in our co-creation events to be held in Jan in 4 cites: Hanoi, Da Nang, Can Tho, Ho Chi Minh City for more discussion with IPP’s experts
4. I can’t find the EoI templates in IPP website?
Answer: EOI template can be downloaded from the link in: EoI for innovation system development teams & EoI for new innovative companies
5. How much can we receive from IPP for financial funding?
Answer: the maximum amounts that IPP can provide for development of the innovative product or services at the early stage are EUR 30,000 for Innovative new innovative company project, and EUR 50,000 for the innovation system developers
project. The most promising project will be invited to apply for additional fund for expansion of the project turning to commercialization.
6. If we are both new innovative company and innovation system developers, should we fill in both EoI templates or just one?
Answer: If you are both a new company and innovation system developer, you should send EoI that matches your project interest: If you will develop innovation system, then EoI for innovation system development project. If you will develop new
product or service to international market, then EoI for new innovative growth company project.
7. What kinds of supports IPP can give?
Answer: Financial support is only an instrument for development of innovative product or services, our main support is innovation expertise, capacity building and networking. The key issue here is the innovative idea that can be commercialization
to sell in the market. So please do not hesitate to discuss with the IPP expert of your solution.
8. Can I apply for support if I am not Vietnamese?
Answer: The program is open to international applicants, and you do not need to have a legal entity in place before the awards are granted.
9. Do I need to have a Vietnamese legal entity in order to apply for support?
Answer: No, but if you are selected for support, you will need to have a Vietnamese entity in place in order to receive the funds.
10. The funds can be used to pay 70% of HR costs, so they can not be used to pay for rent, equipment, software, etc?
Answer: The funds are transferred to reimburse payroll costs. What you do with the salaries after it’s paid out is up to you.
11. Does the Fellowship Program require a Bachelor from an university abroad?
Answer: Yes, it means you should have studied abroad, or at an international university in VN, like RMIT or another English speaking program, but we also do make exceptions.
NEXT STEPS
• Upcoming workshop Events if need or follow the
IPP website
• Start and continue work with your team to plan your
future activities, to develop your team, to
understand the market need, …
• Send EoI if you did not send it already
• Participate in the next IPP Workshop
• Apply for funding and training support in the Spring
2015 to receive the decision on funding in the
Summer 2015