© UNIVERSITEIT ANTWERPEN
Failures and success factors in innovation, a research
VERHAERTINNOVATIONDAY – OCTOBER 12th, 2007
www.mastersininnovation.com
Failures and success factors in
innovation, a research
Sven H. De Cleyn
sven.decleyn@ua.ac.be
www.ua.ac.be
Commercially confidence – This presentation contains ideas and information which are proprietary of University of Antwerp, it is given in confidence. You are authorised to open and view the
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Failures and success factors in innovation, a research
LECTURE CONTENT
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1. Context of the research
2. Research objectives
3. Research approach
4. Key performance indicators
5. Valorisation
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Failures and success factors in innovation, a research
1. Context of the research
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• Many untapped potential in Flanders,
partially due to absence of financially
strong companies.
• High technological and financial risk profile
of projects.
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Failures and success factors in innovation, a research
1. Context of the research
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• Primary motivation: Corporate venturing
facility (Verhaert).
• Importance:
– Foundation of new high-potential ventures
– Diversification & growth of incumbents
Flanders as incubation region
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Failures and success factors in innovation, a research
2. Research objectives
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• Joint research project to assess feasibility
of the project concept.
• Partners: &
• Funding: &
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Failures and success factors in innovation, a research
2. Research objectives
• Final objective: Develop instrument to screen
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and select projects and product ideas efficiently.
• First phase: Analyse feasibility of software
development to resolve this problem.
• Next phase: Large scale international research
to gather data and build up model / software.
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Failures and success factors in innovation, a research
2. Research objectives
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• Requirements of software:
– Scoring of projects (including identification of
weaker dimensions)
– Differentiation according to industry sector
– Clustering of similar projects
– Artificial Intelligence approach (feeding
database with new projects’ information)
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Failures and success factors in innovation, a research
3. Research approach
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• Specification of required data set
– Size
– Geographic and industry sector diversity
• Required techniques
– Statistical analysis
– Artificial Intelligence
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Failures and success factors in innovation, a research
3. Research approach
• Similar models exist to assess ventures and
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NPID projects
– Business Platform Model (M. Klöfsten)
• Likert-5 assessment on 8 dimensions
• Multi industry approach
• Growth companies
– Bell-Mason Diagnostic
• Holistic assessment with yes/no questions
• Single industry focus (ICT / software)
• Growth / Mature companies
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Failures and success factors in innovation, a research
3. Research approach
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• Uniqueness of our approach:
– Holistic view
– Early stage assessment
– Integration of Artificial Intelligence (learning
system)
– Cross-industry approach, with fine-tuning per
industry sector
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Failures and success factors in innovation, a research
3. Research approach
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• Research confirms feasibility and
usefulness of model (success ratio
of 40% vs up to 85%).
• Database with more than 200 potential
influencing success factors.
• First attempt on 1 dimension in small
sample reveals discriminatory power.
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Failures and success factors in innovation, a research
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Failures and success factors in innovation, a research
4. Key success factors
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• Small research sample of 16 product-
oriented spin-off ventures as pre-test
• Some key success factors appear, even in
this small sample
• Confirmation required in larger sample
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Failures and success factors in innovation, a research
4. (Presumptive) Key success factors
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• Preliminary screening of competitive
technologies
• Government subsidies (mainly IWT
funding)
• Product idea originating from clear market
demand (market pull vs technology push)
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Failures and success factors in innovation, a research
4. (Presumptive) Key success factors
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• Preliminary test of compliance with
customer needs through panels / lead user
analysis
• Realisation of product development within
project timing
• Business / industry experience of key
team member(s)
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Failures and success factors in innovation, a research
4. (Presumptive) Key success factors
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• Actual trademark protection and future
patents and trademarks
• Integrated product development team
(technology, market & human interface)
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Failures and success factors in innovation, a research
5. Valorisation
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• First stage valorisation:
– Input for further research
• Second stage valorisation:
– Instrument for monitoring projects
– Strategic instrument for fund management
– Service package (advice in project selection)
– Stand-alone software package
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Failures and success factors in innovation, a research
5. Valorisation
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• Target group:
– Innovating companies
– Venture Capitalists and other investors
– Incubators and technology transfer offices
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Failures and success factors in innovation, a research
Questions?
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University of Antwerp
Faculty of Applied Economics
Prinsstraat 13
2000 Antwerp
Belgium
Tel +32 (0)3 220 41 11
Fax +32 (0)3 220 44 20
www.ua.ac.be
sven.decleyn@ua.ac.be
johan.braet@ua.ac.be
12.10.2007 Slide 19
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Failures and success factors in innovation, a research
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Verhaert New Products & Services nv
Hogenakkerhoekstraat 21
9150 Kruibeke
Belgium
Tel +32 (0)3 250 19 00
Fax +32 (0)3 254 10 08
www.verhaert.com
info@verhaert.com
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