The University of Valencia Science Park hosted the V Conference on public-private collaboration in research and innovation focused on the financing of technological and innovative startups. Experts from the business, academic and legal fields analyzed the challenges and opportunities of investing in this type of companies, highlighting the importance of public-private cooperation, the development of spin-offs and legal protection in investment processes. The event reaffirmed its role as a forum for debate to promote the transfer of knowledge to the market and society
On November 26, the University of Valencia Science Park hosted the V Conference on public-private collaboration in the field of research and innovation. This event, held in face-to-face and online mode, focused on exploring the role of investors in technological and innovative startups, highlighting its importance for the development of such companies, especially in their early stages.
Jesús Olavarría, co-director of the conference, stressed in his speech the importance of alternative financing: “We wanted to focus on the issue of financing, as we consider it to be of great relevance for this type of companies, which, especially in their early stages, have to seek alternative sources of financing to banks, due to the high risk they present and the intangible nature of their assets, based mainly on knowledge”.
In the same vein, Guillermo Palao, also co-director of the event, highlighted the richness of the debate generated: “Through the open debate generated in the two round tables, we have addressed from multiple approaches, such as economic, organizational, legal or governance, the main issues that arise in the investment processes in these companies with high technological content; especially in those that arise from university research and other research centers”.
Participants and key reflections
The event was attended by leading experts. Andrés Ubierna, head of the Capitalization and Transfer Department of the CDTI, presented the INNVIERTE program, an initiative that promotes venture capital investment in the Spanish technology sector. Rodrigo Recondo, president of the Spanish Venture Capital Association (INCARI), highlighted the strategic role of collaboration between academia and the venture capital world.
Pol Hortal, from Zubi Labs, emphasized the need for close cooperation between the public and private sectors to accelerate innovation. In his speech, he stressed the importance of researchers and investors understanding each other's priorities to align objectives, underlining that joint programs, training and adequate public policies are essential to reduce cultural and operational barriers. “Trust and transparency are fundamental to a successful relationship between the two sectors,” he said.
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Lucas Martínez, from DCN Partners, highlighted several key aspects to strengthen the technology startup ecosystem. He advocated boosting the third mission of the university, specializing in fields with competitive advantages and encouraging the creation of spin-offs. In addition, he stressed the importance of developing the technology maturity level (TRL) beyond the university level to keep pace with the market. “It is critical to reduce reliance on third-party capital through a focus on customer-generated revenue,” he said. He also mentioned the role of industry groups in co-investment and the strategic relevance of sectors such as homeland security.
Alfonso Ortega, managing partner of COEX International, provided a legal perspective, pointing out that law also plays a crucial role in science and innovation. “In law we also do science, with a capital letter.... Let's also bet on companies based on legal knowledge,” he said. In addition, he detailed the legal complexities in investing in startups, from intellectual property protection to the legal structure and specific clauses in the shareholders' agreement, such as drag-along and tag-along clauses.
Conclusions and future projection
Eva Alcaraz, head of the GLOBALTECH program of the FPCUV, highlighted the positive balance of the event and the sustained interest in public-private collaboration in the field of R&D&I: “Our aim is that these conferences continue to be a forum for meeting and debate on public-private collaboration, helping to transfer the scientific knowledge generated in universities and research centers to the market and society”.
As part of its commitment to the dissemination and transfer of knowledge, the FPCUV has announced the forthcoming publication of an ebook that will expand on the topics discussed at the conference. This effort is part of the Globaltech project, promoted by the FPCUV with the support of the Department of Education, Culture, Universities and Employment of the Valencian Government.
Once again, this conference consolidates its role as a space for dialogue and reflection to strengthen the links between research, innovation and the market.
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