Startupsaunareepdf 120911071921-phpapp01


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Startupsaunareepdf 120911071921-phpapp01

  1. 1. Building a world class Accelerator Program in A(alto) University context
  2. 2. Question Think of 3 most important factors that form a startup ecosystem
  3. 3. Answers Students Talent University Entrepreneurs Know-how Companies University Internationality Government Investors Startups Culture
  4. 4. 1. Who are we today 2. How & Why it came to be 3. A grain of research
  5. 5. 1. Who are we today
  6. 6. The seed accelerator for the most promising startups from Northern Europe, Baltics and Russia
  7. 7. Meetups To get the word out and have everyone involved. Warmups 1 day coaching events to help as many startups as possible. Accelerator 6 week program brings together the 20 most promising startups from Northern Europe, Baltics, Russia twice a year
  8. 8. As of 2012 Spring 5 batches of Startup Sauna 16 million USD raised to date 31 Warmups organized 74 startups gone through Sauna 380 startups coached
  9. 9. 1. Accelerator 2. In the future... Internship 3. Co-working
  10. 10. Question How does your university support entrepreneurship - 3 things?
  11. 11. Answers Education Incubation Tech Transfer Student societies Working space Networks Conferences Funding
  12. 12. 2. How & Why it came to be
  13. 13. First, everything was founded because of the cultural issue.
  14. 14. “Entrepreneurship is next to unemployment.” “When are you going to get a real job?.” “You made it big, and have to show it small” “Yet again a company sold abroad” “I’d rather work for a big company” “I’m a normal human, how could I create the next Apple?” “It’s too tough and uncertain to run a company”
  15. 15. Founded 2009 Group of students with an ambition No examples, no money, no space A perfect opportunity to bring together Aalto students before Aalto was formed
  16. 16. Founded 2009 Mission was to find serial entrepreneurs Invite them to share their story and inspire Start DOING, not reporting
  17. 17. Founded 2009 over 10 similar entrepreneurship societies born over 300 events (keynotes, workshops, programs etc.) over 500 students involved hands-on over 7000 students online over 1 million € of funding raised
  18. 18. Co-working space in Aalto University campus A 2 month summer program An internship program for for students and Aalto University students researchers, from Aalto to go work in startups An old industrial hall bringing University Helsinki / Silicon Valley. together the students, entrepreneurs and startup All you need is an idea and a Creates a stream of new communities team. talent. Latest, a YC funded startup Kippt.
  19. 19. The vision grew bigger.
  20. 20. Let’s make our region the next technology hub. Let’s give everyone a reason to come out here.
  21. 21. Budapest Helsinki Kaunas Kazan Krasnodar Malmö Moscow Novosibirsk Oslo Oulu Riga St.Petersburg Tallinn Tampere Turku Shanghai Stockholm Yekaterinburg Vilnius Warsaw
  22. 22. Growth entrepreneurship is not about money, office space, civil servant advice or lecturing.
  23. 23. Growth entrepreneurship is all about attitudes, knowhow, coaching, sharing, risk-taking, skills & learning through failing.
  24. 24. Growth entrepreneurship is all about learning from the best that big hairy audacious vision, making a dent into the universe, changing what is and creating what will be.
  25. 25. Growth entrepreneurship is tough.
  26. 26. 2009 2010 2011
  27. 27. 3. A grain of research
  28. 28. Open For Acceleration: The Case of Startup Sauna in Finland DHRUV BHATLI, IRG, Université Paris Est, France PAOLO BORELLA, Boro Oy, Espoo, Finland JUKKA KARIMAA, Aalto School of Economics, Finland
  29. 29. PAOLO BORELLA - Coach at Startup Sauna Director at Appcampus Founder at Boro Oy Vice President at Fox Mobile Distribution GmbH Director at Nokia, Portfolio Mgmt. for Service and Software GTM
  30. 30. Incubators can be broadly categorized as: University based Incubators (UIS) Independent / Private “for profit” Accelerators (PAS)
  31. 31. University based Incubators (UIS) Benefits: Extended support for long development ventures, e.g. Life sciences, tech. based startups Provides cost free resources: Infrastructure, organizational services etc. Disadvantage: Bureaucratic, No intensive Mentoring, No access to commercial networks
  32. 32. Independent / Private “for profit” Accelerators (PAS) Benefits: Intensive coaching to help short development cycle ventures, e.g. Web, ICT, Gaming More dynamic with easy access to markets, funds and commercial networks Disadvantage: Takes equity or revenue share from the ventures, Accepts narrow venture types
  33. 33. Open For Acceleration: The Case of Startup Sauna in Finland 1. What is the business model of SUS “non profit” accelerator? 2. How is the incubation process managed at SUS? 3. What is the value provided by SUS to participating NV's (acceleratee's)? 4. What are the adjustments made by SUS, as a regional accelerator to attract deal flow and succesfully sustain in the competitive entrepreneurial landscape?
  35. 35. STUDY RESULTS STARTUP SAUNA NOT A REGULAR PAS 1. Accepts all venture types, SDC/ MDC/ LDC, diverse range of ventures 2. 40% ventures (non service based) 3. Provides cost free resources: Infrastructure, organizational services etc. 4. Intensive coaching to help participating startups 5. Takes No equity or revenue share from the ventures
  38. 38. BENEFITS FOR ACCELERATEES 1. Connections to a growth network (including future investments) 2.Validation of “graduated startup” for external actors (reduced contingency, Vetted Idea) 3. Part of a support community (Peer to Peer Network) 4. Time bound progress and growth objectives through intensive mentoring (Necessary push) 5. Improved team dynamics and performance 6.Visibility, access to media and generate genuine interest
  39. 39. RESULTS IN NUMBERS 844 applications since start of operations in Spring ‘10 380 startups coached in Warmups and batches 63 (7%) graduates from 5 batches 83% increase in Startups headcount post Sauna 73% Alumni have raised early stage funds 16 Million USD raised from first 3 batches (38 Alumni)
  40. 40. Discussion What are the key entrepreneurial issues in your university and how to empower students to improve them?
  41. 41. Lessons
  42. 42. 1. Serendipity
  43. 43. 2. Empower the students
  44. 44. 3. Darwinian evolution
  45. 45. Antti Ylimutka Captain of Startup Sauna @startupsauna / @andynosebone
  46. 46. One more thing...
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