imec.xpanda game changing way of venturing€¦ · game-changing approach to turn hardware driven...
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CONFIDENTIAL
IMEC.XPAND A GAME CHANGING WAY OF VENTURINGJO DE BOECK EVP & CTO IMEC
BUT WHAT ABOUT THE FUTURE ?
ROADMAP BASED INNOVATION IN INDUSTRY ECOSYSTEM
MOBILE
IOT
HIGH PERFORMANCE
SERVER RACK SERVER PC GAMING PC QUANTUM
COMPUTER
HOLOGRAPHY
AUTONOMOUS
DRIVING
AR/VR SMARTPHONE SMART WATCH
…
HEALTH
IMPLANTS
FITNESS PACEMAKERS OUTDOOR
SENSORS
…
QUANTUM
COMPUTER500
POWER (Watt)
100
1
0,01
0,0001
0,01 1 100 10,000 1,000,000
SYSTEM PERFORMANCE (Giga-Operations/sec)
COMPUTE
65 ... 14nm CMOS
130...28nm bulk CMOS
65 ... 10nm CMOS
14nm bulk CMOS
7…3nm CMOS & beyond
10…3nm CMOS & beyond
12nm FDSOI
IOT
HIGH
PERFORMANCE
MOBILE
28 ... 22 FDSOI
IMEC ECO SYSTEM
APPLICATION PARTNERS
IDMS & FOUNDRIES
FABLESS & FABLITE
SUPPLIERS
technology platforms | value chain | low volume production | innovation launchpad
IMEC.LINK: AN INTEGRATED OFFERING
7
EVT DVT MP
Product
Engineering & prototyping
Design
Verification & compliancy
Mass productionPreparation
& quality
Pre-EVT
Scoping & early concept
Launch
Sales supportTechnology Consultancy
Ideation
Problem Solution
MARKET-READY PRODUCTSFROM INNOVATIVE PRODUCT IDEA TO VOLUME PRODUCTION.
SMART CITIES SMART MANUFACTURING
SMART MOBILITY
SMART ENERGY
SMART HEALTH SMART MEDIA
SMART FOOD SMART GOVERNMENT
SMART LOGISTICS
SMART FINANCE
APPLICATIONS
SYSTEMS
TECHNOLOGY
IMEC OFFERING END-TO-END R&D SOLUTIONS FOR THE IOT ERA
SMART CITIES
SMART MOBILITY
SMART INDUSTRY
SMART ENTERTAINMENT
SMART HEALTH
SMARTENERGY
APPLICATION SECTOR
INFRASTRUCTURE PRODUCTS
SYSTEM FUNCTION
TECHNOLOGY
LOGIC POWERELECTRONICS
PHOTONICSNANO IC PACKAGING MICRO FLUIDICS
IMAGER THIN FILM TECHNOLOGY
ENERGYSTORAGE
MEMS PVMEMORY
STORAGECOMPUTING CONNECTIVITY POWERSENSING ACTUATION SECURITY
DATA SECURITY DATA SCIENCEDATA CENTERS
Technology Platforms
Market opportunities
technology platforms | value chain | low volume production | innovation launchpad
11
building blocks enabling tomorrow’s digital health
FIND THE 8 MISTAKES...
12
13
INCUBATE NEW IMEC TECHNOLOGY THROUGH VENTURING
Materials
Process technology
Components
Circuits
Systems
Application
Process integration
smart application ventures launched from advanced technology platform
imec Core Technology Program Innovationsoffers technology exploration, development and insight in future
technology improvement
IMEC.XPANDVENTURES
IMEC.XPANDTURNINGNANOTECHNOLOGYINTOBUSINESS
Imec.xpand is an early stage and growth fund with agame-changing approach to turn hardware drivennanotechnology innovation into successful globalcompanies.
Imec.xpand is independently managed by a team ofentrepreneurs, seasoned venture capitalists andbusiness experts and is targeting ambitious techstart-ups that meet all the criteria to become asuccessful, scalable venture with the potential tochange the world.
Imec.xpand will boost those ventures by supportingthem operationally and financially from seed to exit,by enabling capex light innovation in a capex heavyenvironment and by giving them access to theunique imec knowledge, expertise, network andstate of the art infrastructure.
IMEC.XPAND
CHARACTERI
STICS
§ Partnershipstructure
§ Targetspublic,institutionalandcorporateinvestors
§ Independentmanagement
§ >5millioninvestment
§ Costlightstructure
§ Carriedinterestmethodologythatalignsallstakeholders
§ Targetfundsizeof100million
§ Firstclosingat60milliononFebruary28,2017
THEMANAGEMENTCOMPANYWILLOPERATEATABUDGETEDCOST.THEYEARLYBUDGETFOR
THEMANAGEMENTCOMPANYWILLBESUBJECTTOAPPROVALOFTHESUPERVISORYBOARD
OFTHEFUND.
“ANINDEPENDENTMANAGERENSURESTHATTHEFUNDACTSINTHEBESTINTERESTOFTHE
SHAREHOLDERSWHILESTILLLEVERAGINGTHEEXTENSIVEKNOWLEDGE,VISIONANDEXPERTISE
OFIMEC”
IMEC.XPAND
AREVOLUTIONINEARLYSTAGEINVESTING
YOURFOOTERHERE
DRIVERSOFSUCCESS
MULTIPLEEXIT
ROUTES
spinoffs
technologysalesand
licensingdeals.
DEDICATION
dedicatedtoearly
stageimecprojects.
frominsideand
outsideimec.
SURFINGTHEIOT
WAVE
perspectivesforboth
strategicand
financialinvestors
PARTNERSHIP
Strategicinvestors
contributetheir
vision,theirmarket
views,theirideas
andtheir
technological
expertise.
CAPEX EFFICIENT
capex-light
innovation
leveragingthestate-
of-the-artimec
infrastructure.
ACCELERATION
imec.xpand will
nurture,guideand
inspiretheventures
toasuccessfulexit.
LOWVOLUME
MANUFACTURING
lowvolume
manufacturingat
imecforinnovative
projectsispossible.
ALIGNEDINTEREST
Investors/partners/
imec/project
owners
POSITIONINGOFIMEC.XPAND
R&D
20
SeedPre-Seed EarlyStage Expansion LaterStage
ImecBudget
Public
Funding
imec.xpand
FinancingGap
TraditionalVC
Business
Angels
FinancingGap
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Innovations that are using IP dedicated to the existing programs at Imec
Innovationsthatdon’t
useIPdedicatedtothe
existingprogramsat
imec
INTERNALIMECIDEAS
Innovationsthatcould
benefitgreatlyfrom
significantimec
contributionsintheir
furtherdevelopment
Innovationsthatuse
imecknowhowto
commercializetheir
prototype
EXTERNALIDEAS
SCOPEOF
IMEC.XPAND
§ Thefundingstrategyallowsentrepreneurstofocusonthedevelopmentoftheventureinsteadofworryingaboutthenextroundoffinancing
§ AccesstoimecknowledgeandIPpool
§ Accesstotheextensiveimecworldwidefirstin-classnetwork
§ Accesstothestate-of-the-artimecinfrastructure,includinglowvolumemanufacturing
§ Imec businessdevelopment,financial,legal,IPandHRsupportatmarginalcosts
§ Profitsharingopportunities
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§ Accesstoveryearlystagebreakthroughinnovativeinvestments
§ Benefitfromcapexlightinvestmentsinacapexheavyenvironment
§ Incubator&acceleratorenvironmentthatlimitswriteoffs
§ Corporateinvestorscancontributetoideagenerationprocess
§ Contributeinstrategyandtheinvestmentdecisions
§ Lowoverheadcoststructure
WIN FORENTREPRENEURS WINFORINVESTORS
“IMEC.XPANDISPOSITIONEDONTHECROSSROADSOFTECHNOLOGYTRANSFER,
TRADITIONALVENTURECAPITALANDCORPORATEVENTURECAPITAL,
COMBININGTHEBESTOFTHOSETHREEWORLDS”
DEALFLOWSOURCES
23
INTERNALIMEC
IDEAS
STRATEGIC
PARTNERS
ASSOCIATED
LABS
UNIVERSITIES
imec.IC-link
IMEC.XPAND
FUNNEL
OTHER
SOURCES
IMECINNOVATIONWEEK
24
IMEC.XPANDSEEKSTOCOOPERATEWITHTHE
STRATEGICPARTNERS,UNIVERSITIESAND
ASSOCIATEDLABSTOJOINTLYORGANIZE
SIMILARINNOVATIONEVENTSINDIFFERENT
LOCATIONS.
0%
2%
4%
6%
8%
10%
12%
14%
INNOVATIONDOMAINS
25
ALLOCATIONBASEDON200+INTERNALANDEXTERNALORIGINALIDEAS
INTHEPIPELINE
26
IMEC.XPAND VENTUREPIPELINE(STATUSOCT 2017)
VentureEnrichment VentureTimebox VentureCreation
Skyrise
Sensafos
Bifast
Spectricity
Onera
CellSeeQ
RFSpinwaves
Aloxy
Holifieldi
CarPatchIO
Cardionostix
SmartPill GI
Artificial Iris
CMUT
Opt.Sensor
SmartShelf
BrainCancer
Eazid
NewCall
Lifescienceand Health
IoT
Others (component/system)
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IDEADEVELOPMENT
ENRICHMENT
§ Between100,000and200,000
§ Allowstheteamstoenrichtheinvestmentproposalandtodosomeinitialduediligenceandmarketresearch.
§ Intheformofaconvertibleloan
5- 10%
dedicatedto
theseed
financing
stage
SEED
FINANCING
DEVELOPMENT
§ Between1.5and2.5million
§ Allowsthecompanytoreachimportanttechnologicalandcommercialmilestones
§ imec.xpand willbea/themostsignificantshareholderinthecompanyatthisstage
§ Predominantlyequityinvestments
40- 45%
dedicatedto
theinitial
financing
stage
PROJECT
FINANCING
INITIAL
FINANCING
GROWTH
§ Upto15million.
§ Typicalearlystageorgrowthfinancing.
§ imec.xpand willbeoneoftheshareholdersinthecompanyatthisstage
§ Predominantlyequityinvestments
>50%
dedicatedto
thefollow
onfinancing
stage
PROJECT
FINANCING
FOLLOWON
FINANCING
GOVERNANCE
29
30
SUPERVISORY
BOARD
§ APPROVES THEANNUALOPERATING
BUDGETOFTHEMANAGEMENT
COMPANY
§ MONITORS THEGOVERNANCEAND
THECOMPLIANCEOFTHEFUND
INVESTMENT
COUNCIL
§ PANELOFSTRATEGICSHAREHOLDERS
ANDINDEPENDENTINDUSTRY
EXPERTS.
§ ADVISES XPANDPARTNERSONTHE
LONGTERMSTRATEGYOF
IMEC.XPAND.
§ ACTIVELYINVOLVED INTHEDUE
DILIGENCEPROCESSANDTHE
GOVERNANCEFORINITIAL
INVESTMENTDECISIONS.
XPANDPARTNERS
§ INDEPENDENT
§ RESPONSIBLE FORALLINVESTMENT
DECISIONS,PORTFOLIOMANAGEMENT
ANDFOLLOW-UP
§ RESPONSIBLE FORACCOUNTINGAND
REPORTING
IMEC.XPAND PARTNERS
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PeterVanbekbergen TomVanhoutte CyrilVancura
Pascal
Vancoppenolle
Johan
HaspeslaghElkeGiets
Patrick
VandenameeleStanDeVocht
IMEC VENTUREMANAGEMENTTEAM
INSUMMARY
32
SIGNIFICANT
FINANCIAL
LEVERAGEON
MONEYINVESTED
MULTIPLEEXIT
ROUTES
GLOBALMARKET
APPROACH
BREAKTHROUGH
ANDDISRUPTIVE
TECHNOLOGY
IDEAS
LEVERAGINGTHE
UNIQUEIMEC
ECOSYSTEM
SURFINGTHE
INTERNETOF
THINGSWAVE
CUTTINGEDGE
INFRASTRUCTURE
ANDTALENT
POOL
INTENSIVE
COOPERATION
WITHSTRATEGIC
PARTNERS
JOIN US ON THIS JOURNEY TO CHANGE THE FACE OF TECHNOLOGY BASED INNOVATION, ACCELERATION AND EARLY STAGE INVESTING.
