B) History, analysis and success factors of the best practice
After having had enough experience in the development of numerical methods for financial risk, in 2007, the charter members became a part of Innovation Factory with an intention to develop a new branch of research and attempt to founding a company based on new competencies. As a result of new competences acquired with the support of Innovation Factory, AREA and innovative ideas of the researchers, in 2009 they established a new company: modeFinance.
Source: modeFinance, company presentation
From a business dream to a business plan as declared by Mr. Ciprian in an interview: ‘Business dream was born one day after three or four years of developing numerical methodologies to be applied in modern finance and especially in credit market analysis. With the support of IF we have managed to develop our business dream, build partnership with BvDEP and with acquired competences we currently provide ratings globally. It was a joint work that resulted in establishment of our company in October 2009’.
29 Innovation Factory: from a business dream to a business plan