Innovation in the uk what it takes

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A practical walk through the process of doing a start up in the UK v the USA experience. Contrasts the different attitudes, success and failure mechanisms.

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Innovation in the uk what it takes

  1. 1. Concept to Commercialisation - what it takes ! Peter Cochrane COCHRANE a s s o c i a t e s cochrane.org.uk ca-global.orgMonday, 28 March 2011
  2. 2. What it takes - a common misconception! Energy Required 100% ~95% 80% 60% 40% 20% ~5% ~1% ~0.1% 0% Idea Beta Alpha Getting to MarketMonday, 28 March 2011
  3. 3. What it takes - the actuality ! Energy Required 100% ~95% 80% 60% 40% 20% ~1% ~5% ~0.1% 0% Idea Beta Alpha Getting to MarketMonday, 28 March 2011
  4. 4. How will it fit in the market ?Monday, 28 March 2011
  5. 5. Business spectrum...World Economy Ms 100ks 10ks 1ks 100s 10s 1 1M 10M 100M 1Bn 10Bn 100Bn 1000BnMonday, 28 March 2011
  6. 6. Business spectrum...World Economy Ms 100ks 10ks Very Very Almost Easy Hard Impossible 1ks 100s 10s 1 1M 10M 100M 1Bn 10Bn 100Bn 1000BnMonday, 28 March 2011
  7. 7. Business spectrum...World Economy Ms 100ks 10ks Very Very Almost Easy Hard Impossible 1ks 100s Princes Trust Google Apple, BP 10s Life Style FaceBook MSoft, Shell 1 1M 10M 100M 1Bn 10Bn 100Bn 1000BnMonday, 28 March 2011
  8. 8. Worlds apart... 982M Land Area Hectares 24M 300M Population 65M NY ~8M London 12,880G$ GDP 1,260G$Monday, 28 March 2011
  9. 9. Worlds apart... Build for fun to change & challenge Build to Dominate Build to Sell Make money & retire Life Style Golf CourseMonday, 28 March 2011
  10. 10. Worlds apart... Build for fun Life Style to change & Golf Course challenge Build to Dominate Build to Sell Make money Build to Sell & retire Make money & retire Build to Dominate Build for fun Life Style to change & Golf Course challengeMonday, 28 March 2011
  11. 11. Worlds apart...Monday, 28 March 2011
  12. 12. Worlds apart... 1980 = 2 x Starts/Year/Head of Population >600kpa New Start Ups >400kpa 2010 = 3 x Starts/Year/Head of PopulationMonday, 28 March 2011
  13. 13. Worlds apart... 1980 = 2 x Starts/Year/Head of Population >600kpa New Start Ups >400kpa 2010 = 3 x Starts/Year/Head of Population ~10% year 1 ~18% year 1 ~15% year 2 Failure Rate ~30% year 2 ~80% year 10 ~95% year 10Monday, 28 March 2011
  14. 14. How come?Monday, 28 March 2011
  15. 15. Bad Money! - short termism - expensive - punitive deals - self interested - no business support - no value add - supreme arrogance/know betterMonday, 28 March 2011
  16. 16. Poor Management! - inexperienced - unprofessional - stubborn - stupid - believing your own BS - refusing to step aside - corruptMonday, 28 March 2011
  17. 17. Poor Management! - missing targets - poor customer relationship - under resourcing - running out of moneyMonday, 28 March 2011
  18. 18. Poor Management!Monday, 28 March 2011
  19. 19. Wrong Business ModelMonday, 28 March 2011
  20. 20. Wrong Business ModelMonday, 28 March 2011
  21. 21. Bad IdeaMonday, 28 March 2011
  22. 22. Slow FailureMonday, 28 March 2011
  23. 23. Technology FailureMonday, 28 March 2011
  24. 24. Fierce CompetitionMonday, 28 March 2011
  25. 25. So, what makes innovation fly ? A good leader A seductive Supportive A good idea & a good team business plan investorsMonday, 28 March 2011
  26. 26. Good mentors !Monday, 28 March 2011
  27. 27. An acceptance that it all looks like this ! Activity Energy Early Emergence Clear Product Stage of Order and Market Chaos DirectionMonday, 28 March 2011
  28. 28. AND of course...timing & luck !Monday, 28 March 2011
  29. 29. Receptive customers help too! Big Problem Desperation Lots of Money & PanicMonday, 28 March 2011
  30. 30. What stops innovation ? Destructive Old minds Old industry Short Termism investorsMonday, 28 March 2011
  31. 31. We need a visionaries and risk takers... ...but there is a fine line between calculated risks and doing something really dumb!Monday, 28 March 2011
  32. 32. cochrane.org.uk COCHRANE ca-global.org a s s o c i a t e sMonday, 28 March 2011

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