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Call for Proposals FAPESP PAPPE-PIPE III 00/2007

1. Purposes and Objectives

The FAPESP Program Research forSmall Business Technological Innovation - PIPE in the acronym in Portuguese, for Programa de Inovação Tecnológica em Pequenas Empresas – exists since 1997. The program aims to support the development of innovative research in small enterprises (less than one hundred employees) located in the Brazilian State of São Paulo. The selected projects are for research on science and technology issues that have a high potential of generating commercial or social return.

The Research Support in Enterprises Program – PAPPE in the acronym for the Portuguese form Programa de Apoio à Pesquisa em Empresas – was conceived by the Brazilian Ministry of Science and Technology to be executed by the federal funding agency Financiadora de Estudos e Projetos – FINEP in partnership with the research funding agencies of the Brazilian states aiming at funding research and development activities in product or processes executed by researchers working in or in close collaboration with technology-based enterprises.

In the State of São Paulo, due to the existence of the PIPE, FAPESP and FINEP have agreed to implement the PAPPE program with different characteristics and conceived the PAPPE-PIPE III program.

Imprimatur Capital is an international investment business focused on the commercialisation of high-growth IP backed opportunities emanating from top-ranking Universities, research institutes and other third party sources. Imprimatur provides early stage investment funding high quality supporting services including business-planning, recruitment of management teams, access to international networks and contacts with high-value industry customers.

The Imprimatur team consists of experienced investment professionals supported by technology specialists and experts in capital markets, recruitment and technology transfer - profiles of the team can be found at www.impcap.com. Imprimatur currently has offices in London, Hong Kong, Singapore, Kiev and Riga and is also active in Hungary, Russia, Brazil and mainland China with new regional offices likely to open in those regions shortly. The business has a distinguished panel of scientific and industry advisors who are themselves based throughout the territories where Imprimatur is active. This allows it to bring a distinctively international and well-informed perspective to the challenge of creating successful technology ventures.

FAPESP and IMPRIMATUR decided to work in partnership to co-fund innovation opportunities that may contribute to the scientific and technical development of the State of São Paulo.

Through the PAPPE-PIPE III program, FAPESP, FINEP and IMPRIMATUR intend to provide further support to small enterprises already supported by the PIPE program that have successfully submitted the required report for their first year of activities in the PIPE Phase II program. These small enterprises, upon the approval of the aforementioned report of activities by the Scientific Directorate of FAPESP, become eligible and can apply to this Call for Proposals for the PAPPE-PIPE III program for partial support to fund the development (the “realization”) of the technological innovation that resulted from the research funded by FAPESP in the PIPE program.

By development of technological innovation that resulted from the research funded by FAPESP in the PIPE program it is understood those efforts carried out in order to facilitate:

  1. scaling up of prototypes to production level;
  2. the Fulfillment of (internal or external) market expectations in term of quality or technical compliance;
  3. the speeding up of time-to-market and improved production time and cost competitiveness.


2. Types of award

Proposals may be selected in three different modes, according to the decision of the joint FAPESP-Imprimatur Committee:

  1. Type I: a proposal that is supported only by FAPESP. Mode I projects will be contracted in the form of research grants.
  2. Type II: a proposal that is supported by both FAPESP and Imprimatur. Mode II projects will be contracted as research grants by FAPESP and as an equity investment on the part of Imprimatur Capital.
  3. Type III: a proposal that is supported only by Imprimatur. Mode III projects will involve an equity investment on the part of Imprimatur Capital.

The submission procedure is identical for all three types, the specific type to be decided upon analysis of the proposals by FAPESP and Imprimatur. Type II is preferred by FAPESP and Imprimatur and only in exceptional cases Types I and III will be used.


3. Proposal submission

Proposals should be submitted in two versions, one in Portuguese and one in English, in one paper copy to FAPESP plus a PDF file of the complete proposal.

The paper copy of the proposal should be addressed to

Call for Proposals - Programa PAPPE-PIPE III - 2007
Fundação de Amparo à Pesquisa Estado de São Paulo
Rua Pio XI, 1500, Alto da Lapa
05468-901 São Paulo, SP, Brazil

For instructions on how to send the PDF file, refer to item 13 of this call for proposals.


4. Duration

Projects can have up to 24 (twenty-four) months of duration.


5. Eligibility

In order to qualify for this Call for Proposals in the PAPPE-PIPE III program, the proponent researcher should satisfy in the following requisites:

  1. A proven expertise in the field/area of the research project;
  2. Be prepared to dedicate at least 20 hours per week for direct involvement in the execution of project.


6. Small business qualification

In order to qualify for the PAPPE-PIPE III program, the small business enterprise that hosts the project should have:

  1. An approved first annual technical report of the PIPE Phase II project
  2. A submitted or approved final report for the PIPE Phase II project.


7. Budgeting

The proposed project budget should be detailed and justified item per item, totaling, at most, 500 thousand Brazilian Reais.

The budget can include the following categories of expenses: permanent material (national or imported), consumables, and services provided by third parties (national or imported, including software).

The sum available for application to the total number of proposals selected is up to R$ 12 million, half of which will be contributed by FAPESP and Finep, while Imprimatur will contribute the other half.
8. Forms required

  1. A filled and signed Form 13III – PIPE Program Application Form;
  2. Principal investigator short résumé (FAPESP’s “súmula curricular”);
  3. A proposed detailed and justified item per item project budget according to the instructions in the appropriate forms;
  4. Physical-financial schedule according to a model form provided by FAPESP;
  5. A schedule of disbursement of the financial resources. Upon the signature of the grant award agreement with FAPESP and/or the investment agreement with Imprimatur FAPESP and Imprimatur might ask for another, revised, disbursement schedule in accordance with the values being actually contracted.
  6. Business Plan according to the Form in Annex II.


9. Required documentation

In order to qualify for the PAPPE-PIPE III program, the proposal must include the following items:

a) Current Status and Summary

Provide a summary of the current status of the product / process / Intellectual Property development project. This should include a clear description of the status of the elements of the project previously funded by FAPESP together with any relevant technical specifications and an evaluation of commercial value. Include the following information (6 pages maximum):

a.1) The innovation and market

a.1.i) Provide a description of the innovation – what are the most important novel aspects?

a.1.ii) What are the main commercial applications of the innovation? Who are the potential users / customers of the innovation? Does this innovation address an international or national market?

a.1.iii) How does the innovation compare to existing and / or competitive technology? What are the specific advantages and limitations of this innovation relative to alternative technologies or available products.

a.1.iv) Which other academic research groups and / or commercial entities are active in developing new technology or products in this area?

a.2) General status and funding history

a.2.i) What is the background and the current status of the innovation? Is the innovation linked to historic or current research? Do product(s) / prototypes / devices exist? Has testing been undertaken, and to what extent?

a.2.ii) Have any external partners been involved in developing this innovation? For example, testing partners, commercial developers and / or other academic groups.

a.2.iii) What external funding, other than FAPESP, has been used to develop the innovation to-date? For example, university funds, public research funding, contributions from industrial partners etc.

a.3) Intellectual Property position

a.3.i) Who owns the Intellectual Property (IP) connected with the innovation? Who has been granted rights to use the IP, for example, commercial partners or external funding bodies?

a.3.ii) Have any patents applications been filed? Include details of existing patent(s), patents in application, and countries where filed.

a.3.iii) Are their any plans for new or additional patents to be filed in the near future?

a.3.iv) If a patent application has been filed, what prior-art searches have been conducted? Who conducted the searches and what were the results?

a.3.v) Have details about the innovation been published or disclosed in any other way? For example, have scientific papers in journals or conferences or posters been delivered, have discussions been held with industry or other partners – if such discussions were held, were non-disclosure agreements used?

b) Planned project - funding requirement and key activities

Provide a full description of the product/process/Intellectual Property development project to be funded with the requested resources. This should include the following information (6 pages maximum):

b.1) A clear and detailed description of the specific goals to be attained and of the instruments to be employed in the attainment of the goals.

b.2) A clear statement of the funding requirement

b.3) A project execution schedule which sets out specific key technical and commercial targets that will lead to achievement of the goals specified in b.1).

b.4) A clear statement of the intended strategy for commercialization – what are the primary channels to market intended to be?

b.5) A summary business plan using the template form set out in Annex II.

c) Additional information

c.1) Résumé of the project coordinator according to the model provided by FAPESP (https://fapesp.br/docs/formularios/arquivos/sumula.doc) ;

c.2) Qualifications and competences of the companies, research institutions, and consultants to be contracted by the small business enterprise, if any;

d) Supporting information

e) The following documents must be included but DO NOT need to be supplied in English whether or not the proposal is to be considered for Imprimatur funding.

e.1) The small business company statutes as filed at the State Board of Commerce;

e.2) Budget from the manufacturer or from authorized sales representatives, one for each item or groups of related items (with individual prices specified) to be imported;

e.3) Authorization of the competent governmental authorities regarding the acquisition, manipulation, transportation, and use of nuclear or biological material (in Brazil, e.g., by the Comissão Nacional de Energia Nuclear and the CNTBio organizations).

9.1 Special instructions

Please, pay attention to the following:

  1. Do not include unique, original documentation in the proposal you submit. FAPESP does not return documentation that has been submitted to its analysis.
  2. FAPESP may decide not to file or to return proposals that are not complete with all the required documentation attached.
  3. Please do not clip or bundle the documentation in any form.


10. Analysis and Selection of the proposals

The selection process of the proposals will be competitive and based on a comparative analysis.

The appraisal of the proposals will take into account (mainly, but not only):

  1. The current stage of development of the innovation funded by FAPESP in the PIPE Phase II;
  2. The product development project to be funded with the requested resources; and
  3. The description of the strategy for commercialization envisaged for the innovation.

The analysis will value proposals that can demonstrate:

  1. Clear technical novelty and defendable IP;
  2. Clear competitive advantage;
  3. Significant commercial potential;
  4. Application to growth industries and international markets.
  5. That the support received will significantly accelerate value creation and reduce risk.

The appraisal of the proposals will be carried out:

  1. By FAPESP and FINEP using a joint FAPESP-FINEP Committee which may use external reviewers.
  2. By IMPRIMATUR, using in-house specialists and, if necessary, external consultants.

11. Schedule of the RFP

Deadline for receiving the complete proposals

15/08/2007

Announcement by FAPESP of the schedule for the interviews.

30/09/2007

Announcement of the accepted proposals.

28/10/2007

Beginning of the contracting of the projects.

10/11/2007

12. Conditions and operation of the funding for the selected proposals

12.1 For projects in Type I

12.1.1 FAPESP contracting

FAPESP will contract the selected proposals through an Award Agreement and the FAPESP funding won't be refundable.

12.1.2 Additions to the budget

The approved budget will be definitive and will not be considered for additions along the execution of the project. Amendments by transposing financial provisions between different categories of expenses may be made upon request to and approval by FAPESP as long as they do not imply addition to the total originally approved budget.

12.1.3 Project progress reporting to FAPESP

The awardee must present yearly technical progress reports to FAPESP on the progress of the project.

The awardee should present yearly financial reports according to what will be established in the Grant Award Agreement contract and the FAPESP Financial Reporting Manual.

12.2 For projects in Type II

12.2.1 FAPESP contracting

FAPESP will contract the selected proposals through an Award Agreement and the FAPESP funding will be of the non-refundable type. Under the terms of the FAPESP – IMPRIMATUR Agreement, if IMPRIMATUR obtains a benefit from funding the opportunity it will reimburse FAPESP to an amount of 30% of the realized revenue, as as an Intellectual Property reward.

12.2.2 Additions to the budget

The budget approved by FAPESP will be definitive and will not be considered for additions along the execution of the project. Amendments by transposing financial provisions between different categories of expenses may be made upon request to and approval by FAPESP as long as they do not imply addition to the total originally approved budget.

12.2.3 IMPRIMATUR contracting

Imprimatur will provide funding according to the terms of an Investment Agreement. The principle terms and conditions of this Investment Agreement are set out in Annex I, included in this Call for Proposals .

Imprimatur will seek an equity stake in the range of 40-60% in consideration for its cash investment and provision of additional support services (as set out in item 12.2.4)

Imprimatur funding may be provided in tranches depending on achievement of key technical and commercial milestones – these milestones, if any, will be set in consultation with FAPESP.

12.2.4 Additional support provided by Imprimatur

In addition to funding, Imprimatur might also provide support services at no-cost for the project, as decided by Imprimatur, including, but not limited to:

  1. additional market research to determine the best or most appropriate applications and market sectors for the technology in question;
  2. business and strategic growth planning;
  3. financial and revenue modelling;
  4. where required, identification and recruitment of management;
  5. introduction to international connections and markets; and
  6. support in sourcing and obtaining follow-on funding.

The process and timing of delivery of such support will be agreed with the project team once the Investment Agreement has been signed.

12.2.5 Project progress reporting to FAPESP and Imprimatur

The awardee should present yearly technical progress reports to FAPESP on the progress of the project.

The awardee must present yearly financial reports according to what will be established in the Grant Award Agreement contract and the FAPESP Financial Reporting Manual.

Under the Imprimatur Investment Agreement, reporting of progress against milestones will be on a regular basis.

It is expected that the project team will meet with representatives of Imprimatur at least once a quarter.

12.3 For projects in Mode III

12.3.1 IMPRIMATUR contracting

Imprimatur will provide funding according to the terms of an Investment Agreement. The principle terms and conditions of this Investment Agreement are set out in Annex I included in this Call for Proposals.

Imprimatur will seek an equity stake in the range of 40-60% in consideration for its cash investment and provision of additional support services (as set out in item 12.2.4 )

Imprimatur funding may be provided in tranches depending on achievement of key technical and commercial milestones – these milestones, if any, will be set in consultation with FAPESP.

12.3.2 Additional support provided by Imprimatur

In addition to funding, Imprimatur might also provide support services at no-cost for the project, as decided by Imprimatur, including, but not limited to:

  1. additional market research to determine the best or most appropriate applications and market sectors for the technology in question;
  2. business and strategic growth planning;
  3. financial and revenue modelling;
  4. where required, identification and recruitment of management;
  5. introduction to international connections and markets; and
  6. support in sourcing and obtaining follow-on funding.

The process and timing of delivery of such support will be agreed with the project team once the Investment Agreement has been signed.

12.3.3 Project progress reporting to Imprimatur

Under the Investment Agreement, reporting of progress against milestones will be on a regular basis.

It is expected that the project team will meet with representatives of Imprimatur at least once a quarter.

13. Contact person

The contact person in FAPESP for this Call for Proposals is Dr Mauro Zackiewicz.


14. Agreement to Terms and Conditions

By submitting an application under this CFP, applicants confirm that they have read, understood and agreed to the terms and conditions of the CFP and the conditions attached to any successful awards.


15. Annex


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