2nd Małopolska Financial Forum – coverage

The 2nd Małopolska Financial Forum ended its session. The subject of this year’s meeting included the possibilities for financing innovations in the medical industry.

The Forum was attended by the representatives of research centres, hospitals, universities and companies that employ modern technological solutions. The invitation from the Małopolska Regional Development Agency was accepted by well-known doctors, presidents of capital funds and medical centres.

The Forum was chaired by Marek Zuber, a well-known economist, who presented a thesis about innovations as the motor of economic development of the European Union, and quoted the example of Finland, a country that succeeded thanks to the active policy of financing innovations.

“We are nearly at the tail end of Europe” when it comes to activities in the area of seed and venture capital funds, he said. But the medical industry is particularly interesting area with regard to innovation employment, because it has some sections in which we are very strong in the application of modern technologies.

Why do we like venture?
The first speaker, Piotr Tamowicz, PhD, President of the Board of the Initiative for Capital and Governance, presented the condition of seed capital in Poland, and the application of certain methods of financing in the medical industry. He answered to the question of “why should we like venture?” which:

• Fill the capital gap;
  
• Has high investment readiness;
• Supports commercialisation of innovations.

He presented three reasons in favour of the development of the venture funds. Firstly, they complement the supply curve; secondly, they support the creation of investment readiness; and thirdly, they undertake the risk of pre-market stages.

About seed funds:
The opportunities and barriers for the development of seed funds in Poland were discussed by Marek Dietl, Investment Manager of Krajowy Fundusz Kapitałowy (KFK, National Capital Fund). He presented the goals, principles and methods of financing of KFK.

Short success story: “Capital Investments” Fund:
Krzysztof Krzysztofiak, President of MARR, talked about how the Małopolska Regional Development Agency acquires EU grants and creates seed funds. Over 20 innovative companies will be established in the course of the next few years thanks to the “Capital Investment” Fund.

The President presented the Fund’s principles of operation and areas of interest. He presented the portfolio of companies that were created with the financial and subject-matter support from MARR.

Alternative circulation market: New Connect:
The financing of innovative enterprises with the use of the capital market was discussed by Monika Rękawek from the New Connect Development Department.

The goal of New Connect is to support and create a place on the market for innovative enterprises. New Connect provides the opportunity to gain capital by young small, micro and medium-size entrepreneurs. It is an alternative for seed and venture funds, and a chance for individual investors.

Innovative economies win:
“The level of expenses on medicine in Poland is not satisfactory. In Europe we exceed only Romania and Latvia,” said Władysław Kosiniak-Kamysz, medicine doctor, at the start of his lecture entitled “New technologies in medicine.” “Poland does not belong to the giants of innovativeness,” he continued. It is in the group of “low innovators.”

The Poles do not believe that innovations can be created in their country. The last innovative product they can name is the Łukasiewicz’s lamp, said the doctor.

It is a bit different in the medical industry, as companies from this industry reach high positions in the New Connect group. The doctor presented the relation between innovations and ethics in medicine, and reminded that medical sciences value most the good of the patient, whereas science, provision of new opportunities and improvement of the quality of medical services are the means necessary to achieve this value. The doctor also explained the problems encountered while putting the scientific achievements in practice in the medical industry.

Medicine: innovation-friendly climate:
Kamil Kipiel, President of the Board of CTTMPT Sp. z o.o. presented the role of technology transfer centres as brokers of innovation in the medical industry. He proved that a hospital can perform the function of a creator of innovations and establish a climate friendly to modern technologies.

He indicated how to commercialise scientific achievements in the medical industry in cooperation with doctors and representatives of business.

Experience, youth and innovative hospital:
Anna Prokop-Staszecka, M.D., Director of the John Paul II’s Hospital, presented the concept of innovative hospital. She talked about resources, successes and potential of her hospital. She also discussed the plans related to its modernisation and areas where she plans to apply innovative solutions.

Innovative company, innovative project:
In the end specific examples of the application of innovations in companies and projects were presented. The President of the Board of SilverMedia discussed the implementation of innovations in the IT sector. He talked about how the understanding of the client’s needs favours the creation of new technological solutions and innovations in the medical industry.

Dr. Zbigniew Nawrat, Director of the Institute for Heath Prosthesis presented the history of “Robot Robin Heart,” world’s unique surgical robot. He talked about ideas in the medical industry that may be financed with seed funds.