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… period 2010- 2015. We would like to thank the management and administration of DKE for the excellent preparation of our visit, which created the perfect conditions for us to perform our task. We really enjoyed the candid and constructive conversations with many of DKE’s staff members, PhD students, and collaborators: these really helped us to obtain a better view of DKE’s achievements and ambitions. Annemarie Venemans, our secretary, did a marvellous job in guiding us through the process and … modelling of cellular and subcellular processes. Basic research includes topics in systems and control theory (identification, parameterization) and rigorous numerical mathematics. 2.2 Research quality The committee came to the conclusion that, when translating its opinion into the categories of the SEP 2015-2021, the overall quality of the research falling within its remit qualifies as 3 (good). The committee’s opinion is based on the following considerations. As a starting point, the … papers 1 1 3 5 4 5 Books 0 0 0 0 0 0 Book chapters 11 8 15 1 18 11 PhD theses 4 3 2 3 2 5 Conference papers 28 29 45 36 36 27 Professional publications 15 10 8 12 15 11 Publications aimed at the general public 0 0 0 1 0 1 Conference and workshop abstracts 7 9 23 14 10 7 Conference and workshop demonstrations 0 4 4 4 1 1 Technical reports 2 2 0 7 1 2 Edited books 1 0 4 1 0 0 Edited journals (special issues) 0 0 1 0 0 0 Edited conference proceedings 1 2 4 1 2 1 Editorials in journals and …

… 1349.12 2029.13 363.14 283.76 Cont. 2016 [bn] Grant NL 64.68 1.4 bn Tax exemption NL 30.88 0.35 bn Soft loan NL 0.77 49 mn Equity participation NL 0.45 9 mn Guarantee NL 0.29 3 mn Tax deferral 0.06 Other 3.30 Art 107(1) TFEU: Incompatibility of aid with the internal market “Save as otherwise provided in the Treaties, any aid granted by a Member State or through State resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the … investors Leveraging + State aid may exist at 4 different levels 1. Level of fund 2. Level of manager 3. Level of final beneficiary 4. Level of investor -Their principal may be guaranteed -Loss may be limited -A minimum profit may be guaranteed -They may take first dividends -They may take all dividends up to a certain level -They may take all dividends in a certain period Advantage = unequal sharing of risk Fund of funds Private investors Funds Final beneficiaries Intermediaries MS State assumes risk that is not acceptable to private investor No state aid when state invests pari passu What happens if there is state aid?  Options for MS: • De minimis aid [Reg 1407/2013] => no notification • GBER [Reg 651/2014] [upt to EUR 15mn] => no notification • Risk Finance Guidelines => notification [notifiable aid …