The conversation is led by Marcin Wandałowski – editor of the publication of the Civic Congress.
How do you see the function of State Treasury companies in building a pro-technology and innovative economy in Poland? Should they play the function of "innovation locomotive", generating request for fresh technologies, while supporting their implementation in the economy?
Companies with the participation of the Treasury (SSP), due to their size and resources, should act as innovation locomotives, but must decently manage these processes and make transparent procedures. Public enterprises have unique assets, specified as the scale of purchases and investments, financial stability, access to capital and the anticipation of long-term strategies – specified as the energy transition. This gives them the capacity to: make request for fresh technologies through pilot actions, finance early stages of innovation (grants), finance investigation and development, and even engage in funds venture capital (VC). They are then able to implement these solutions on a large scale.
At the same time, global experience and analyses show that the innovation efficiency of SSP depends, among others, on compliance with the rules corporate governance, specify clear objectives and adopt appropriate monitoring mechanisms for the implementation of innovative projects.
Treasury companies can become locomotives of innovation, but only if their scale goes hand in hand with transparent management and defining clear objectives.
What circumstantial actions can SSP take to stimulate technological development?
There are respective possibilities. Companies can make cooperation platforms, innovation accelerators or technological hubs – depending on the scope of technological needs and challenges they face. These actions besides include mobilisation of funds corporate venture capital (CVC) supported by public funds, e.g. with PFR participation, carrying out acceleration programmes for start-ups within its own infrastructure, implementing joint improvement projects with the private sector and integrating tiny and medium-sized enterprises into strategical supply chains within the so-called. local content. specified actions advance cognition transfer, increase innovation and private sector competitiveness, and increase the economical resilience of the country in a situation of economical downturn.
Could you give examples of circumstantial companies that are already implementing specified solutions?
There are many specified examples. I will list only 3 large companies from different industries. The R & D and innovation activity in the ORLEN Group, carried out within the 12 method Domains, includes, among others, efficient refinery production, modern client service, future stations producing clean energy, energy retention and hydrogen technologies. ORLEN besides actively supports the improvement of the Polish start-up ecosystem, engages in multidimensional cooperation with the Polish technological community and builds relations with the global technological environment. The improvement of innovation aims at optimising current production and business processes as well as supporting the energy transition.
State Treasury companies can truly drive technological improvement erstwhile they open up to cooperation – with business, start-ups and discipline – creating an ecosystem that strengthens the innovation of the full economy.
In the financial sector, a good example of specified doctrine is the Ready for Startups programme implemented by PZU, which aims to support cooperation with startups in investigating and implementing innovative solutions. Over 1,000 ideas are analysed annually under the programme. Over 80 pilots have already been carried out and more than 50 solutions have been implemented. Projects completed at the test phase are besides considered as valuable experience building an innovation culture. The programme shows that SSPs can afford to experimentation and risk, which is essential for the improvement of an open and innovative economy.
KGHM Polska Miedź S.A. invests in automation, robotization, digitization of mining processes and technologies related to RES and closed-loop economy. Thanks to the specificity of its operations, KGHM generates request for fresh technological solutions and creates space for their commercialisation.
Examples of ORLEN, PZU and KGHM show that erstwhile state companies invest in innovation, they not only modernise their own processes – they besides make markets on which the full technological ecosystem of Poland grows.
How can state-owned companies stimulate technological improvement and increase the competitiveness of the private sector – especially tiny and medium-sized enterprises?
Contracts and pilot schemes play a key function here as they enable fresh solutions to be tested under real conditions. another pillars are CVC and co-investment funds and investments in start-ups – specified as ORLEN VC – which supply capital and marketplace know-how.
The largest organization investor in our region is PFR Ventures. Under the BRIdge VC programme, a closed private assets investment fund (PFR NCBR CVC FIZAN) was the first company fund in Poland to invest in independent CVC and VC funds up to EUR 110 million. Taking into account the share of private capital, this gives more than € 220 million, which can go to technology companies. It is the first, only in Poland and 1 of the fewer in Europe, a fund providing backing in the CVC segment. The Fund may besides cooperate with investors of the type venture capital.
Industrial accelerators are besides created – in energy, chemistry, logistics and telecommunications. Good examples are Orlen Skylight Accelerator, PZU laboratory or PKO Innovation Hub. Equally crucial is access to laboratories, energy networks or data platforms – resources that can be utilized by SMEs to measure and make their products. kind programmes supplier development They besides include method support, standardisation and audits so that SME suppliers meet the requirements of large contracts.
Are there already measures in place to support technological cooperation with industry?
Joint R&D projects and pre-competitive procurement pre-commercial procurement) let the co-financing of research. Financial guarantees and preferential credit terms, acquisition of shares or leasing of technology are besides important. The inclusion of SMEs in strategical SSP supply chains is besides an crucial element, which increases their technological competence and marketplace resilience. Companies can besides organise alleged pitching sessions, i.e. presentations of ideas, projects or start-ups, which aim to get financial support from possible investors.
When state companies open their markets, laboratories and capital for SMEs, they make not only their own innovations – they build the full ecosystem, which increases the competitiveness of Polish companies.
What mechanisms for cooperation between state companies and start-ups, universities or private companies do you consider most effective?
I am a supporter of mechanisms that are applicable and proven in action. I mean first of all corporate venture funds and accelerators and acceleration programs that combine marketplace access with mentoring. I have already mentioned specified projects – specified as ORLEN Skylight/ ORLEN VC, IDA Bootcamp, PZU laboratory or PKO Innovation Hub. Another solution is the joint R&D agreements, i.e. consortia with universities, technological institutes and companies that establish co-financing and clearly specify intellectual property rights.
When discipline and manufacture work together and state companies open access to finance and supply chains, innovation ceases to be a coincidence – they become the consequence of a thoughtful process.
From an SSP point of view, it would be beneficial for R & D projects with low technological readiness to be implemented first by universities – with the support of substantive and financial business – and only later tested under industrial conditions. Cooperation with institutes, including the Łukasiewicz investigation Network, which offers comprehensive services to manufacture in the field of technological development, is besides tangible.
What about cooperation with startups and SMEs?
The most common mechanisms are utilized here. open innovation: Technology competitions and contracts are organised for innovative solutions that attract SMEs and investigation teams. Technology parks and test centres service as physical cooperation, prototyping and certification sites. mechanisms for commercialisation of investigation results – specified as subsidiaries, spin-offs, licensing whether joint patents – let for effective implementation of innovation. A good solution is the alleged demonstration projects, i.e. rapid, time-limited implementation, followed by evaluation and decision to scale the task or abandon the solution.
The most effective innovations are born where state-owned companies combine capital and the marketplace with university cognition and start-ups dynamics – in practical, jointly funded projects that clearly specify the principles of cooperation.
It is besides worth noting that in Poland there are regulatory sandboxes1 public institutions whose partners could be SSPs. It is crucial to establish fair rules on intellectual property, transparent criteria for selecting partners and fast decision-making paths that avoid bureaucratic barriers. Only then can we talk about an effective and dynamic ecosystem of innovation.
Innovations make as rapidly as possible where start-ups and SMEs can test their ideas in real terms – with clear rules, fast decisions and openness of state companies to cooperate.
By what methods can the Treasury companies strengthen strategical sectors – energy, digitisation, defence or fresh industrial technologies?
The SSP supports the improvement of key sectors through strategical technological investments – both capital (CAPEX) and mergers and acquisitions (M&A) – aimed at decarbonisation, digitisation and automation. A good example is the conversion of the fuel investment portfolio towards renewable energy sources and clean technologies. Public procurement is simply a R&D instrument – large purchases of equipment and technological solutions make a marketplace for local suppliers and stimulate innovation.
Developing interoperable platforms and national method standards – for example in the field of energy smart grid – importantly reduces entry costs for SMEs and facilitates integration of solutions. The SSP besides supports the improvement of digital infrastructure through joint investments that supply safe, local facilities for AI, data and online services. Cloud solutions, IoT and developed tools are implemented big date and cybersecurity.
Does the defence sector besides benefit from synergies with the SSP?
Definitely. Cooperation includes, inter alia, support for the transfer of dual-use technologies (dual use) and the location of the supply chain in the country. The SSP from the arms sector creates technological consortia with private companies, which strengthens the national supplier base and builds technological competences.
What organization and organisational changes are essential so that state companies can act as a improvement partner for Polish innovative companies?
Above all, a clear ownership strategy is needed – a central policy on the function of SSP in innovation, covering objectives, key performance indicators (KPIs) and the investment horizon. It is besides crucial to clearly separate ownership from regulatory. The OECD recommends clear roles and effective monitoring.
Treasury companies strengthen strategical sectors erstwhile they combine large-scale investments with building common standards and infrastructure – creating conditions where innovation can grow faster than anywhere else.
The next step is professionalisation of management and staff – recruitment of competent managers and implementation of long-term incentive systems linked to innovation and operational performance. In the MAP, we started implementing the Matrix of Competence for members of supervisory boards. This tool will enable a collective assessment of this body, taking into account the individual competences of individual members, to cover the key areas of competence of the company. The mechanics is presently being implemented in 23 companies with State Treasury participation. Work on the Code of Good Ownership Practices as well as the statutory changes being prepared are besides being finalised.
Synergy of the defence sector and companies of the State Treasury creates an ecosystem in which not only the safety of the state grows, but besides national technological competences.
We urge that SSP appoint innovation offices or CVC departments liable for cooperation with SMEs, universities and start-ups. The SSP should advance a culture of openness to risks and failures. It is besides worth examining whether incentive systems for board members, which reward innovation, are an effective tool.
Looking from the position of 15 to 20 years: what should be the function of the State Treasury companies in the Polish economy – are they to stay guardians of key sectors, or besides become drivers of innovation and technological leap of civilization?
The SSP should execute 2 complementary functions between 15 and 20 years. Firstly, to stay pillars and guardians of strategical sectors – to guarantee energy security, defence capabilities, critical infrastructure maintenance and financial stability. Secondly, they should become a driver of innovation and technological transformation – actively invest in fresh technologies, build innovation ecosystems, make the PE/VC fund sector in the Polish economy and scale national solutions to global markets.
For companies of the Treasury to become a improvement partner for innovative companies, they request not only capital but, above all, competence, a clear strategy and culture that rewards courage and does not avoid risk.
Such a hybrid model means, on the 1 hand, maintaining control over critical assets, ensuring safety of supply and infrastructure stableness and, on the another hand, developing innovation centres. For example, large power plants can become hubs for energy retention and P2X technology and fuel companies can become renewable energy integrators, mobility and digitisation. Implementation of this model requires further improvement in corporate governance, clear marketplace rules and effective public-private cooperation mechanisms. OECD reports and many case studies show that with appropriate management of SSPs can be both a stabiliser and a driving force for innovation.
State Treasury companies can besides be safety guards and innovation drivers – provided that they combine the stableness of the public sector with the dynamics of the modern technology industry.
A good example is the Polish Armed Forces Group – and more broadly: the national defence industry. This sector naturally integrates various fields of modern technology: robotics, automation, electronics, advanced materials, artificial intelligence or space technologies. Innovations in this area have the possible to penetrate the civilian economy, as has been the case in the United States for decades, where many key solutions specified as the Internet, GPS, microelectronics or composite technologies have been born as part of state-funded defence projects and have been applied in business.
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