Monday , 5th Novembr 2007

4.30 p.m. to 5.00 p.m.
Reception with tea and coffee,
distribution of congress documentation

5.00 p.m. to 5.15 p.m.
Opening of the congress by Euroforum and the Chairman
Dr Hendrik Brandis, Managing Partner,Earlybird Venture Capital, Munich

The Venture Capital scene viewed from different perspectives

5.15 p.m. to 5.45 p.m.
Review of the German Venture Capital landscape

• Venture Capital 2007: a sector in the ascendant?
• Industry trends
• Future prospects

Falk Strascheg, General Partner, EXTOREL GmbH, Munich

5.45 p.m. to 6.15 p.m.
Keynote: Investors
European Venture Capital – a secret treasure?

• Myths and facts surrounding European Venture Capital investment
• America goes Europe – opportunity or threat?
• Success criteria for Venture Capital in Germany and Europe from
  an investor’s viewpoint

Ulrich Grabenwarter, Head Equity Fund Investments, European Investment Fund, Luxembourg

6.15 p.m. to 6.45 p.m.
Review of the German Venture Capital industry
from the viewpoint of a seed investor

• Conditions for Venture Capital in Germany are positive:
  good investment opportunities, moderate company valuations,
  lucrative exit options
• Too few developed Venture Capital markets, fund raising still problematic
• Revival in the seed investment market
• Opportunities for adequate follow-up financing?
• Venture Capital managers are in short supply

Dr Michael Brandkamp, CEO, High-Tech Gründerfonds Management GmbH, Munich

6.45 p.m. to 7.00 p.m.
Questions from delegates
End of Congress day one [7.00 p.m.]

7.30 p.m.
Get-together
After the first-day sessions spend a convivial evening by meeting and
debating with like-minded professionals. The perfect opportunity for socialising.

Tuesday , 6 th November 2007

8.30 a.m. to 9.00 a.m.
Reception with tea and coffee

9.00 a.m. to 9.15 a.m.
Welcome by the chairman and summary of the results from the first day
Dr Hendrik Brandis

The future of the Venture Capital market

9.15 a.m. to 9.45 a.m.
Keynote: Political framework
Political environment for Venture Capital in Germany

• Legal conditions for Venture Capital
• Position and measures adopted by the Bavarian
  State Government

Emilia Müller, Bavarian State Minister for Economic Affairs,
Infrastructure, Transport and Technology

9.45 a.m. to 10.15 a.m.
Private Equity legislation: what is there left?

• Key aspects of future legislation
• Future of the Finance Ministry Decree of 12/2003
• Fiscal transparency
• Turnover tax between investment fund and management company?
• Carried interest taxation
• Loss carryover in the light of § 8c of the Corporation Tax Law (new) and Private Equity Law
• Who can turn what to profit and how can he do it?

Dr Christoph von Einem LL.M., Barrister and Partner, White & Case LLP, Munich

10.15 a.m. to 10.30 a.m.
Questions from delegates

Networking break with tea and coffee [10.30 a.m. to 11.00 a.m.]

Success stories from the German Venture Capital scene

11.00 a.m. to 11.35 a.m.
heliatek – a technology start-up on the way to becoming
a producer of organic solar cells

• The vision: solar current from thin-film organic substrates
• From university-based pure research to technology spin-off
• Founder team, business plan, business angels and seed
  financing through High-Tech Gründerfonds
• A network of universities, research institutes and technology companies
• BASF, Bosch and Wellington: a consortium of potent investors

Dr Martin Pfeiffer, CTO, heliatek GmbH, Dresden

11.35 a.m. to 12.10 a.m.
A new colour in the mobile phone market: blue

• Business model and market
• Idea development
• The financing phases: early stage/growth/expansion and significance for the success of blau
• Prospects for future development

Martin Ostermayer, Founder and Chief Executive, blau Mobilfunk GmbH, Hamburg

12.10 a.m. to 12.45 a.m.
Success factors for biotech start-ups – the Alantos Pharmaceuticals story

• Company staff
• Investors
• Projects
• Management board

Dr Fritz Frickel, former CSO, Alantos Pharmaceuticals, Cambridge/Heidelberg

12.45 a.m. to 1.00 p.m.
Questions from delegates

Lunch [1.00 p.m. to 2.30 p.m.]

The appeal of Venture Capital in Germany and Europe

2.30 p.m. to 3.15 p.m.
Keynote: Venture Capital company
View of an international Venture Capital company on the attractiveness of the European Venture Capital market and its general regulations

• Impact of globalization on European Venture Capital:
  opportunities and challenges
• How can we make Europe more attractive?

Jean-Bernard Schmidt, Managing Partner, Sofinnova Partners,
Paris, France, and EVCA Chairman 2003–2004

3.15 p.m. to 4.00 p.m.
Panel discussion:
The attractiveness of Venture Capital investments in Germany
from the perspective of Venture Capital companies

• Deal flow – are there enough good business start-ups?
• How willing are new entrepreneurs to take risks?
• Do we need more business-plan competitions or founder’s awards?
• Are German start-ups being given fair market valuation?
• Should founders look to setting up abroad, for example because
  of loss carryover regulations and other fiscal measures?
• How enterprising are German company founders?
• Fund raising and exit opportunities

Moderator:
Dr Christoph von Einem LL.M.
Taking part in the debate:
Dr. Huber Birner, General Partner, TVM Capital GmbH, München
Frank Böhnke, General Partner, Wellington Partners, Munich
Kurt Müller, Partner, Target Partners, Munich
Dr Gottfried Neuhaus, Partner, Neuhaus Partners GmbH, Hamburg
Christian Siegele, Partner, 3i Deutschland GmbH, Stuttgart

4.00 p.m. to 4.15 p.m.
Questions from delegates

Networking break with tea and coffee [4.15 p.m. to 4.45 p.m.]

4.45 p.m. to 5.30 p.m.
Panel discussion:
View of international investors on the attractiveness
of European Venture Capital

• What makes a German investment attractive?
• What is the international perception of the European market?
• What are the key learnings of the recent developments in the German and European Venture Capital industry?
• What are the specific status and attractions of the German Venture Capital industry?
• What are the key concerns for the future European Venture Capital market?

Moderator:
Dr Hendrik Brandis
Taking part in the debate:
Maximilian Brönner, Partner, LGT Capital Partners, Pfäffikon, Switzerland
Markus Benzler, Director Portfolio Management, UBS AFA, Zurich, Switzerland
Katharine Campbell, Managing Director, Cambridge Associates, London
Other guest speakers have been invited

5.30 p.m. to 6.00 p.m.
Questions from delegates followed by general summing-up by the Chairman

Close of the 11th Munich Venture Capital congress [6.00 p.m.]