TechCapMarkets aims to improve the supply of alternative finance, including venture capital & angel investments by improving the exit opportunities for shareholders in privately held innovative SMEs. Market experts will be consulted to provide recommendations to address market challenges and encourage the development, and adoption of new market based solutions.
A High Level Advisory Grpup, Chaired by Julia Prats, Professor of Entrepreneurship, IESE., with an observer from the European Commission will act as strategic counsel to the project partners.
Approximately 30 market experts will be interviewed representing : (1) venture capital and other private market investors (2) entrepreneurs/company owners (3) stock market operators (4) investment banks and advisers (5) institutional investors (6) retail investors. (7) National Promotional Banks The output will be a report, consolidating the input from the experts identifying market gaps/failings and provide recommendations to policy makers, regulators and exchange operators.
Role of Experts
- Each expert will address market challenges and issues from their perspective via a structured interview and common reporting questionnaire.
- The primary output is a report for policy makers and market stakeholders.
- Experts agree to be interviewed in an individual capacity.
Market Challenges and Opportunities
- IPOs for innovative SMEs in Europe
- Secondary trading for crowdsourced and business angels shares in innovative SMEs/Use of private growth markets
- Further issuances by listed innovative SMEs/Tech Companies
- Opportunity and challenges for the use of cryptocurrencies & Initial Coin Offerings
Project Context & European Commission
In April 2017 the European Commission, under its Research and Innovation programme – Horizon 2020 – issued a call for proposals to improve the access of innovative SMEs to alternative finance. The project partners proposed and won the TechCapMarkets project. The project also takes into consideration other cross cutting actions by the European Commission including :
- The Action Plan on Building a Capital Markets Union
- The European Innovation Council
- The European Investment Fund’s EIF-NPI Equity platform – a programme to share best practice across national institutions