You are on page 1of 40

LIFT

Linking Innovation Finance and Technology

1
LIFT
Linking Innovation Finance and Technology

"

! $ % &

"

&

% &

! #

2
LIFT
Linking Innovation Finance and Technology

$ %& %$&$ ' ( % $ )* *+ * ') *


+&* ( ' , * * % * -+ $ ($

' '
(

!
! ( )*
+

, $ ! (
( !

( !
- .
+ ! (

. /
'

0 ( ! !
$

. /% 0 1 2
. / 3 2
. /4 1 5 3 2
!. /4 1 2
". / 6 2
. - 7/ 5 3 8 2

1 . +
! ( /( 23
45

6 + +
& (
-
! +
+ /
( ( + (
+

3
LIFT
Linking Innovation Finance and Technology

' !
+
'! !
(
! ( ( . !
(

./% 01 2
'
/ ! + !
+

7 +
+
! ! )*
. ! / / ' /
' ( + '
)* !
+

! '
'! ! ! +
. 1
+ !
! 89: +
* ! )*
/ ! ( +

!
( * !
! ! '
7 ! (
-

1 /
! . - ! (
( ! ' ! !
( (
# ! /(
'

.
+ ( ! ( '

/ ! ( !
# . / + (
! ( + . &
' !

4
LIFT
Linking Innovation Finance and Technology

( / - (
' '
!
* ! (

+ ! . 2 5 (

.! (
!
! )*
+

( ;
+

1 / + <
= ( !

)* ( !
/
/ ! . 1 /
!
+ 1
!
! ' ! '
! '

. ,/ 3 2
(
! >
! + %

1 /
?
1 @
<. AB= !
/

./4 1 5 3 2
0
/

C& !
$ ! !
+ !
!

5
LIFT
Linking Innovation Finance and Technology

' #
! (
' / . 2 5
( ' ( ! 2
5!

!./4 1 2
(
( C
( ! (
(!
/

!
!

+
( + D / #

( !
- / 0
( (

(
/ /
!
.+ (
$

• - 9 8
: 0 ;
: 5
• <
• & 8= <
• )

/ (

!
? .

+ . !
. . !
! (
/

6
LIFT
Linking Innovation Finance and Technology

(
-
(
(
(
(! (
* ! ! /(
+'
'
$

-=

7 9

<

% 9 9 7 <

) <

> 8

"./ 2
#
+ ! -
. .
' / ! !(
. (
( E ' (

. - + --
( ! /
(+ F99 + (
(
! ( > ( +
(
-

7
LIFT
Linking Innovation Finance and Technology

+
> >
( ! .
! +

/( ! !
!
(
(

1 ! ( (
' ( 1 !
/ /
. !
! + /
( !
(

/ ( ( ! / +
(+ * ( ! '
!

-+$ * +&*
? / 3 5 < 9 2
? /4 1 92
? / 3 3 5 < 2
!? /4 1 6 <8 9 9 2
"? / 3 5 3 5 8 2
? /4 1 9 5 9
9 2
? / 3 5> 9 9 9 2

. & $ *

! -!
!

3# ( ( 4
( !

! ! (
( ! (
! !

8
LIFT
Linking Innovation Finance and Technology

'

1 ( ! . (

% (
(
( $

.@ 5
.
. ;
!. 9

&
! / ,G
/E ' ( !
+

* A $ $ ( %&* ( +*

CRECIMIENTO

VENTAS
DESARROLLO

MADUREZ DECLIVE

TIEMPO

..
! ( - ( ! (
> *
! (
! /
! (
! ! !

9
LIFT
Linking Innovation Finance and Technology

'( . ( '
> -
! (
! ! -

( .
( !
>
!

! ( '
1 !
! !
. ! ! /

..
( >
( ' # '
! (
/ (
+ ! !
! + ! (

' + (
0
! ' $

. B=
.- B@
. ; B&
!. B 15

! !
(
'
+ (
/
!
/ -

2 5< = - /

! (
. $

10
LIFT
Linking Innovation Finance and Technology

%*- ' %&* ( +* %& * -+& C( ' * ( $ '


* % + + A$
. * $ + & " +
> & ( 1 7 (
# #
! ( .
.- ( $& $ 7 (
' ' E
1 ( ! (
'
% '
.
. -% $ D$ $ ( #
(
7 / 7
(
+ (
!. *& " * ' ( + !
?
( 6'
.
/

". $&) $ ( #
7 / ( !
" / +
' 7 - '

11
LIFT
Linking Innovation Finance and Technology

-+$ * +&*

? / 3 3 5 38 , 7 7 2
? / 3 9 1 <9 2
? /$ 0 19 3 < 3 2
/ 01 9 A . < 0 12
!? /4 1 ; 2
"? 0 E 0 1 1 7
/ 3 3 8 6 9 2
? / 8 = 2
? / 3 2
/F < 6 0 G 7 < 2
/4 16 2
/4 19 9 2
? / 3 9 2
? / 3 8 76 < 8 2
#? /4 1 2
/ 3 8 < 15 2
/ 3 7 7 1 < 5 2
? / 3 9 2
? / 01 2

12
LIFT
Linking Innovation Finance and Technology

. %&* ( +*

( ! (
/ / +
. +

( .
. ( .
<. . A=$

• H I
• H > I

2 5
2 ' 5

1 .+ ! + 2
5 .+ 2 '
5 1

2 ' 5 '
!
'

+ /(

2 5 /
!
'

(! 0 /
!

1 ! ' $

13
LIFT
Linking Innovation Finance and Technology

• 3 5>

• <
• < ; 8
• 3
• 9
• G

* . H .
(
/ > ! !
' . ! ! ( (
' +

. )*!
( ( ! ' !
1 )*
> ! ' ( !
' '
/ ?
+ E ! ' ! )*
.
+
<. =

-+$ * +&*

? 5 7 9 8 .
? /- < 9 2- =7/ 3 3 5 < 01 2
? / 3 5 2
,= /% 3A . 9 7 8 7 = 9
9 2

14
LIFT
Linking Innovation Finance and Technology

!. )* * J -( %*- ' & $ *

/
' /
!

#
$

• 9 < K91 = ?
• 8= <

. ( ( /
' (
I /( > '/ +

( ( (
! < 1 =! !
( + ! + '
(
(

+ '

+ ' ( + (
/ ( H '
* ( ' . ! /!
. C! ( ! ( .
> + '
( '

( + '
+ (
/ ( $

• 9 5 (

• $ , 8 > < . (

-+$ * +&*

? / 3 5 < 2
? / 3 6 0 9 < 3 8 2
? /4 1 15 E < 2
!? / 3 2

15
LIFT
Linking Innovation Finance and Technology

". -+&$+ ) $ & $ *+ $

! + ! (
!
! ' ! ' . ! ( '

? ! ( ' !
!
( -

1 (! !
J

0 / !
!
! !
A!

!
.

0 / + !
/
$

• 8 L 8 0 5

• 8 0
• 5 L
• 8 1 9
• > 9 8 ;
• > 5
• 5 < 5> 9
• 9 1 .

/ !
! ! !
* (
/
(
( '
>

16
LIFT
Linking Innovation Finance and Technology

-+$ * +&*
? /F 5 A .< 2
? /F A .
5 <9 2
? /F 8 A . 3 8 7
2
!? /F 5 A . 0 5 <
< 9 2
"? /F A . 8 78 6> 5 2
? % < =
5 .
? % 5 < .
? % 8 9 < 5
0 8 .

. @$C& $ '

!
- !

!
/
I
( /
+
/ /
(
- ! /
! +

.
. + (
. ( !

1 (! (
(

-+$ * +&*

? /@5 3 A . 5 3 5 >2
? /A A . 0 30 2
? / 3 E 0 < 3 3 2
!? / 3 3 85 2
"? /4 1 6 <0 2 /% 3A . M
2
/4 1 3 9 2
? / 3 ; 2
? /4 1 9 3 5 < < 2

17
LIFT
Linking Innovation Finance and Technology

? /- 6 8 < 5 9 92

. %& A - * - A +$-7 J %( +* ( &+*

! (
(
( + '

. . % 9 9
>
(

E ' !
- ! ! !
! . !

1 ( ! ( /
! !

. % 9
0 / !

(
!
! ! ! ! ! 1
/ ( ! ( (
! (

89
> ( ! (

/
!

(
! . !

. % 9 E

! /
' '
/
! ! .

'

18
LIFT
Linking Innovation Finance and Technology

'
( /
'
! / !

+ '
! ' !
+ ' #
8! +

( ( ! (
( (

! ! !
+ ( !
/ ( ! !
( (

( > ! '
( ( ! /
( '
0 + B9:
- B9: ( +
/ '

# ' ( /
( ' .
- (
> !

' ! (
! / ! .
(

! $


• = ; 9
• 1 ; N > ,9
<

.! C 9

+
. ! !
( > ' !
/ /

19
LIFT
Linking Innovation Finance and Technology

( . !
!

. /
! . ! '
!

." 1 < 9
. >
( !
( ' .
!
' (
. -

- !
- ! (
.
#
! ( / (
!
(

*
* +
! !

7 (
(

+ !
+ ! !
! / !

! . !
!
' . !

-+$ * +&*
? /+ 8 2
? / 01 5 G2
/ 3 < 3 32
? / 01 9
9 2
!? % 9 9 .
"? % ; 9 9 .

20
LIFT
Linking Innovation Finance and Technology

. ) -+ ' J * +&* )* *

0 (
(
% (
+ ! ! 1 !
-

(
.+ %
.! /
! '
+
/ ! . (
/
. (

( $

• @ ;
• A
• %

( ( (
' (

! !

0 ( ( ( (
( !
! !
( '
/ ! !'
(

. ( / / !
! !
! ' !
( ! ! !
/ ' ! . (
! ! /
'

21
LIFT
Linking Innovation Finance and Technology

-+$ * +&*
? /4 1 = 5 < 5 6 A .2
? /4 1 8 5 < 0 18 2
? /4 1 3 5 2
!? /4 1 3 2
"? /4 1 9 K 7 7
7 5 ?2

. * * - @ $ $ ' -$& $-

0
1 ! ( +
. + / ( (
!

$
! . /! !

1 (
(
. (
/ . !

/
%
.

-+$ * +&*
? C 3 9 8 7 5 ; 01 8 9
9 < 3 8 3 9
? C 3 9 7 E 0 3 3
8
? / 3 3 A . ;2
!? / 5 8 2 /% 7 1
5 7 7 2
"? - 9 7/ 9 3 2
? /4 1 8 9 E 2
? /4 1 5 9 2
? /4 1 = 8 7 7 5 1 2
? / =8 < 3 9 2
#? / ; < 2

22
LIFT
Linking Innovation Finance and Technology

-+( * ( $-* * & +*,

% $ )* *
F %F$ -+(- $+ & $ - + ,( O % *

F 6
! C &
C 6 <: : 6 P
(Q

+ ., : "#
@ E, :

& 5 ,
. 5
+1
- .(.F
@

23
LIFT
Linking Innovation Finance and Technology

- + --
% & !
/ ( / !

% /
! !

% & ' !
+8 7 / >
!
( / ! !
+ !
0

0 '
( / + % '
( / !
! < '
= BF:
+ (
0

/ ,,K 999
- LLL8!B 99K 999 LLLM N A99 999 - LLBB
- LLBF ( B9 ,9

% & A99999 F -

O 7 $
OO - LLL8

• 30 ; < 3

• 8 8 0 < 1

• R

( % ! (
- / ( ( BA BK
/ ( -

24
LIFT
Linking Innovation Finance and Technology

& $ *

1 ( . /
AA8 LLLN / ( NP9 LLLK
- $

. 3 1 9 ;

$G SSS $G SSS T 9 $G SSS $G SSS


+ T 9

1BA 9N < = N B99 BAF FF BMF ,F


1BA 9N < = BA9 ,F A9 M9 BK
1BA 9N < ( = BF K , BF ,
Q R Q < / . = BF M N B9 AF
Q 9A BA9 K , BF ,
& 9 A9 A B F B
# < ,9 F A B9 AF
R =
# < / = B9 , A BF ,
A 7, < N A B F B
=
N 7, < / = F B9 , NF P
F B9 , NF P

+*+$ !" ## # ##

+ !
! /
+ <H. =

.+ " : ###

1BA 9N < = M
1BA 9N < = B9
1BA 9N < ( = BF
Q R Q < / . = B9
Q 9A BF
& 9 BF
# < R = BF
# < / = N9
N7, < = BF
N7, < / = N9
N9

25
LIFT
Linking Innovation Finance and Technology

$G $G
K ? K 3E ?
S / . LLL, LLBN
S / LLLP LLAF
S / ' LLLA LLLK
S % LLLB LLLF
S #' R LLLN LLLK
S / LLLB LLLF
S ' LLLB LLLF
S 6 LLLB LLLF
S D LLLF LLAF

( (
( . ,F:
$> !
! ' ! ! +
! ' !. !
!( !' !
'! ( /

! (
-
A 999 N 999
/ F 999 ( .
9!F B: !
( (

( .
. +

/ . ( + >
( ! "
!

( % & (
' (
/ !

! AF -!
# N7,

%
/

26
LIFT
Linking Innovation Finance and Technology

L ( 5

- & ( @ $ & +

% B9 B9 A9 A, B9 M,
* N , F F F AA
+ R/
& BBA BB9 BB9 BBA B9F F,P
/ R'
+ F F B9 B9 9 N9

+*+$ # !" " # "

!B9 F9:
+ !B9 M9: !
/ R'

! / 0
( / / - (
! (

0 ( +
/ ( /
/ NA9 -! %
B:! / F - ! '
( / (
+ / B9
0 (
' % B9:
/ / / B9 -
/ R' ! +
/! '
F9 A9

+
! $

• = K6 > 1 7 8 <
3 :5 8 ?
• 5
• ; 8
• 6 8=
• 5 1 .

/ '
! ! (
0
( ( 0 !
0 (

0 ' $

27
LIFT
Linking Innovation Finance and Technology

• B
• 3 0 3
• 8 ; 85 ; ; ;

• F 6 1 < =8 < 0
1
• ( 5 6
6
• ( 5 .

0 /
( ( / (

U
9 9

$C % 4 SJD *- A%

& + & *-

S # &
S / &
S " & & & & &
S 1 &
S 1 & & & *
S 1 & &
S & & *
S D & & &
S # &
S "
S * & * * *
S * * & &
S & & * *
S # & &
S # 4 & & &

S D * & & &


S & & & &
S D & & &

$< = !< = !<&= !<*= .

# 2 5 16# (
- - /(
/ !
. !

7 >
H ! H D!
! / 1
! (
( /
*I!LCQ ? - > (

*
Frente al rendimiento de los compuestos de metal y cerámica que compiten con Hephaestus

28
LIFT
Linking Innovation Finance and Technology

> !
2 ( 5
( H ! )*!

% 0 2 5
( !
- ! +
. 16#! *I LCQ 7 /
% H D!
( (

%&* ( +* J -( @$C& $ '


% & / ( !
20 5! /
0 / / 6AR #!
7
1 R #

/ ( /
! < ' ! ' =
% / / '
! $

• / ' . +

• (

( + % '
. ( + /
- - ! ' *
#

% / '
( / / 0
/ ( ( ( (

- $

• 8 =
• 8 9 < 9 5
• 30 :6

BF:
BPPP ,AB 999
BPPK

29
LIFT
Linking Innovation Finance and Technology

C! (! ( AF9 999 / F - !

% .
% (
'

0 (
,B: ( 0

A 5

T 5

& / BF
1 N
BK
& / F

+*+$ !

% 0 /
/ !
+

% /
! !
+ /

$$ + A $ F %F$ -+(- $+ & $ -


% & /
( *
# - D 0 !
( .

' (
/

L ,##

@ 6 5 . SSS . SSS" . SSS!


H , AM, N 8K8 A 8,P
6 N88 A88 ;BN
1 ' B KAP B MNP B K9N
1 / B BFM B 9P, MMF
? / B 9NM B 9M9 8KP
B 8MB B ,PA B N8F
# B P,P B M8N B KKP
:D BK!K BF!B ;

30
LIFT
Linking Innovation Finance and Technology
:D K!
8 M!
A ;

# ! % /
BPPF! / / ( *
! ! (
0

% 9 F 6 ,

* " $ T " ! BK - +
& 1E
* T UU 1

* . $ * !* .
6 K - *
# 1 <
/ =

* $ 0 % ! 1 ,
- B9 - -

* & $ 1 6 ! * H
& & " 6 D V W
1 F -

7X
* ,
B9
B8
H 1 B9

+*+$ !#

# ! ( (

5 0 ( 5

SSS SSS SSS

6 B!FO A!
F A!
F
* B!9 B!
9 B!
F
? B!9 B!
9 B!
F
H A!9 N!
9 N!
9
? 9!F B!
9 B!
9
A!F A!
9 9!
F

+*+$ 7
" #7
" #7
#

31
LIFT
Linking Innovation Finance and Technology

O '( ( -
LLLM

9 9 ( 5

F 6 $C % 4 SJD *- A%

" & & &


1 * * * *
* * * *

1 * * * *
& & *
# * &

& & * *
# & &
& & &

$< = !< = !<&= !<*= .

% ( . !'
16# H Y H

% . !
- ( (
( 0 / -

' % (

/ ' ! !

-+&$+ ) $ & $ *+ $

C 0
(
0

/ '
!

!
0 ( - / ' 0
( . / !
( 0
( ! 2 5
.

32
LIFT
Linking Innovation Finance and Technology

% & (+
!
/ ( ' (
2 5

%
( / % (
(
- 0

@5

0 / ( % + !
( (
$

0 ( / 89 999
0 ( ,9 999
(
B9 999
? 1 BB9 999

(
0 ! ' B9 BF: ( +

/ ( -
B F99 999 ( N 999 999 - /
/
+ /

)* + ( / (+ -
/ ( ! (
! '

0 '
+

( 5

" 0 &
< K9: / =
& 8K,99
B 999
" ' 89 999
B 999

33
LIFT
Linking Innovation Finance and Technology

# M A99
& BN8NA9
? 1 AMN PA9

7 +

/ 6 1
/ . ' !

% ( ( 0 !
( ' ' 1>
! # ! * 1 ' )*! (

% 9 9
& 1- LLLM 1- LLLK 1- LLLP 1- LLB9 1- LLBB

S A99 ,99 K99 B B99 B A99


S / BF9 N99 899 B 9F9 B BF9

S * F9 BF9 BF9 BF9 AF9


S # ,K BFK B89 A8, N99
* + A99 N99 N99

? 1 ,,K B 99K B PB9 A K8, N A99

5 9
& 1- LLLM 1- LLLK 1- LLLP 1- LLB9 1- LLBB

D 0 ,,K 89K B BB9 B F99 B 899


A99 AF9 ,F9 FF9
6 + B99 A99 NF9 NF9
1 B99 AF9 ,99 F99
? B99 B8, A99

? 1 ,,K B 99K B PB9 A K8, N A99

- " !1 U U6 # D Z /
/ B 999 !
! 1
%
/ / (

34
LIFT
Linking Innovation Finance and Technology

% / ( (
1 # - LLLK

35
LIFT
Linking Innovation Finance and Technology

( 5 F 6 G
# B A N , F 8 M K P B9 BB BA

H NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, ,,K 99K

#
/ F9 999 F9 999
? 89 999 89 999

# B99 99999 B99 999

A,M NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, NM NN, 8FK 99K

# / BB9 999 BB9 999


& BB ,99 BB ,99 BB ,99 BB ,99 BB ,99 BB ,99 8K ,99
& BB N89 BB N89 BB N89 BB N89 BB N89 BB N89 BB N89 BB N89 BB N89 BB N89 BB N89 BB N89 BN8 NA9
1 , F99 , F99 , F99 , F99 , F99 , F99 , F99 , F99 , F99 , F99 , F99 , F99 F, 999
F99 F99 F99 F99 F99 F99 F99 F99 F99 F99 F99 F99 8 999
A 999 A 999 A 999 A 999 A 999 K 999
" F 999 F 999 F 999 F 999 F 999 F 999 F 999 F 999 F 999 F 999 F 999 F 999 89 999
1 K99 K99 K99 K99 K99 K99 K99 K99 K99 K99 K99 K99 P 899
. 899 899 899 899 899 899 899 899 899 899 899 899 M A99

N8 B89 BNA M89 N, B89 A, M89 N, B89 AA M89 N8 B89 AA M89 N, B89 A, M89 N, B89 AA M89 ,FP FA9

ABB BM, <PF ,A8= N BM, BA FM, N BM, B, FM, B BM, B, FM, N BM, BA FM, N BM, B, FM, BPK ,KK

36
LIFT
Linking Innovation Finance and Technology

% '
0 ! '
! ! ! !
( !
$

1 < 9 5

& 0

& 1- LLLM 1- LLLK 1- LLLP 1- LLB9 1- LLBB

,,K B 99K B PB9 A K8, N A99


# AM, 8B, B B88 B M,K B PFA

& BM, NP, M,, B BB8 B A,K

"

1
B9 F8 89 89 K9
1 89 BA9 AB9 AB9 AB9
K B8 AK ,9 ,9
" 89 BA9 AB9 AB9 AB9
1 / AA AA ,, ,, ,,
B, B8 N8 N8 N8

? 1 BM, NF9 FKK 899 8A9

6
9 ,, BF8 FB8 8AK

9 B, F8 BB9 B89
6 . 9 N9 B99 ,98 ,8K

:& NP NP NP NP NP
:" NP NF NB AB BP
:6 9 , K BK A9

:D 9 B, ,K B!
KK A!
AM

:1 8M A, BM BB K

O7 . ( 0
' ! (

37
LIFT
Linking Innovation Finance and Technology

$ 3 5 1 < 9
#T 9
1 NB

& 1- LLLM 1- LLLK 1- LLLP 1- LLB9 1- LLBB

NFK K98 B FAK A APB A F89

# AB8 ,PB PNA B NPK B F8B

& B,A NBF FP8 KPN PPP

"

1
B9 F8 89 89 K9
1 89 BA9 AB9 AB9 AB9
K B8 AK ,9 ,9
" 89 BA9 AB9 AB9 AB9
1 / AA AA ,, ,, ,,
B, B8 N8 N8 N8

? 1 BM, NF9 FKK 899 8A9

;NA ;NF K APN NMP

9 B, F8 B99 B89
6 . ;NA ;NF K BPN ABP

:& NP NP NP NP NP
:" ,K ,N NK A8 A,
:6 <P= <,= 9 BN BF

:D ; ; ; PB B9,

:1 8M A, BM BB K

7 $ )* >
0 % ( ( 6 1
" !* " % ! ( +

38
LIFT
Linking Innovation Finance and Technology

* * - @ $ $ ' -$& $-
% & (
# )* !
( (
BPPK! -
>

1 % 0 !'
* # 1 % ( 0
. ! +
0

!% AB9 999 -
BB9 999 BPPP! !
! ( A99B

/ - A999!
( -

% 0
$

% F9 999

1 89 999

#. < = B99 999


? 1 AB9 999

+
- 0 > %
B: ( NP9 A999
A9: ! 0
-

39
LIFT
Linking Innovation Finance and Technology

!
H
#

- < C& =

#
* V%
D 1 " .
0 ? 9ARAAK8
;APA9 +
+$)NFA,N9BNA9K,
# $ [

%5
@+
BB 6
;BAMN 0L & 6?0D"
$)NFA,AK99B
+$)NFA,AK99N
# $ [
( Z $ $RRZZZ

* - 7V
7V [ V

D ?7 16 *1*
# /
. /
( ( '
# 1 !
/
>
(

40

You might also like