42629 lecture 8 - oroclean presentation


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42629 lecture 8 - oroclean presentation

  1. 1. Tirsdag d. 20/3-2012 42629 - Innovation in Product DevelopmentLærke Holstebroe Jeanne Lønstrup
  3. 3. The Team DTU Management MSc. Stud.Lærke Holstebroe Jeanne Lønstrup
  4. 4. Venture Cup Presentation Original Slides from Venture Cup FinalLærke Holstebroe Jeanne Lønstrup
  5. 5. Venture Cup Presentation OroClean – Change the world with a profitable business Low tech, proven technology Miner: 11% Cheaper than mercury Mercury in small scale mining 30% Higher value of gold 41% Income Lærke Holstebroe Jeanne Lønstrup Jakob Parslov Trine Duelund Refiner: 20% Income Locally Produced, for the expences of: DKK150 Eliminate 30% of the global mercury pollutionLærke Holstebroe Jeanne Lønstrup
  6. 6. Venture Cup Presentation BUSINESS MODEL NON REFINED GOLD OROCLEAN LEASE REFINER RENT MINER Expand market Product to market GREEN GOLD Break Even ~ 2. år 1. år 2. år 3. årLærke Holstebroe Jeanne Lønstrup
  7. 7. Venture Cup Presentation 15 – 20 milliones miners Start up expences: DKK 5 mio. Profit 1st year: DKK 3,5 mio. OroClean – Doing good by doing wellLærke Holstebroe Jeanne Lønstrup
  8. 8. The Business Plan…Lærke Holstebroe Jeanne Lønstrup
  9. 9. Content - Business Plan + Appendices: • Patent feasibility • Letter of recommendation • Income Statement • Competitor Analysis • Mapping of Value Chain • Cash flow • BudgetLærke Holstebroe Jeanne Lønstrup
  10. 10. Business modelLærke Holstebroe Jeanne Lønstrup
  11. 11. Arguments to back up feasibility • Geo Center • Professor Kurt S AndersonLærke Holstebroe Jeanne Lønstrup
  12. 12. Implementation Strategy Local ChampionLærke Holstebroe Jeanne Lønstrup
  13. 13. Current StatusLærke Holstebroe Jeanne Lønstrup
  14. 14. Projected Market Share / Competitor AnalysisLærke Holstebroe Jeanne Lønstrup
  15. 15. Mapping of Value Chain and Cash Flow Create value for all involved actors in the value chain Renting takes place: Rate $10/week*unit  $520/year*unit Leasing takes place: Rate $90/year*unit Contract manufacturing takes place: Rate $43/unitLærke Holstebroe Jeanne Lønstrup
  16. 16. Income Statement for OroCleanLærke Holstebroe Jeanne Lønstrup
  17. 17. Cash flow for OroCleanLærke Holstebroe Jeanne Lønstrup
  18. 18. Problem How it all started…Lærke Holstebroe Jeanne Lønstrup
  19. 19. USA – Exchange Program Rensselaer Polytechnic Institute Troy, New YorkLærke Holstebroe Jeanne Lønstrup
  20. 20. Inventor’s Studio ”Think big. You can do it!” – Burt SwerseyLærke Holstebroe Jeanne Lønstrup
  21. 21. Methods used Problem Basic Engineering skills – Learn by doing • Internet research • Bottom-of-the-pyramid theory • Brainstorms, morphology, concept creating • Actor-network • Testing & Prototyping • Calculation of mechanical / fluid dynamic principals • Roll-the-snow-ball / networking • Pitching / watch other people pitch • Participate in workshops / events, ‘in the field’ • Workshops with experts  An iterative approachLærke Holstebroe Jeanne Lønstrup
  22. 22. The Problem Problem • Find a problem that affects millions of people • Understand the context of the problem • “Need to have, not nice to have” • A treat is the most powerful motivation factorLærke Holstebroe Jeanne Lønstrup
  23. 23. What’s in it for me? I want to be able to eat my tuna fish every day!Lærke Holstebroe Jeanne Lønstrup
  24. 24. Tell a touching story ProblemLærke Holstebroe Jeanne Lønstrup
  25. 25. Inspiration Bottom-of-the-Pyramid (BOP): IDE – Treadle Pump: Paul Polak - TEDx: 2.5 billion people who live on Inspiration from Founder of non-profit less than $2.50 per day Franchise business International Development model Enterprises (IDE) http://www.youtube.com/watch?feature=playerem bedded&v=ezVxt7TkyeMLærke Holstebroe Jeanne Lønstrup
  26. 26. Search for Possibilities Do you really need a patent? Other ways to protect your product?Lærke Holstebroe Jeanne Lønstrup
  27. 27. Proof of Concept Problem Initial simple testsLærke Holstebroe Jeanne Lønstrup
  28. 28. Spread the word – Get feedback Semifinal: 10 selected, 120 entriesLærke Holstebroe Jeanne Lønstrup
  29. 29. MIT Elevatior Pitch Competition Semi finals: http://www.youtube.com/watch?v=BspJKEMpoUQ&feature=related First Round: http://www.youtube.com/watch?v=viamkBLPUBw&feature=relatedLærke Holstebroe Jeanne Lønstrup
  30. 30. Develop New Competencies Through EventsLærke Holstebroe Jeanne Lønstrup
  31. 31. Workshop with GeoCenterLærke Holstebroe Jeanne Lønstrup
  32. 32. Understand the context Problem Gold Gold Goldshops The Refiner The Miner $ $Lærke Holstebroe Jeanne Lønstrup
  33. 33. Fundraising Augustinus Det Obelske Familiefond FUNDS Direktør Neergaards Fond No money Familien Hede Nielsen Fond Spar Nord Fond Skype presentation from Denmark Semifinals: 60 selected, 700 entries Winner of Cleantech Overall winner of Startup Competition Winner of Develop Prize, Social Entrepreneurship Presentation of project to Minister of Climate and Energy, Lykke FriisLærke Holstebroe Jeanne Lønstrup
  34. 34. Venture Cup 2010 • Announcement of the final 15 teams, 5 categories • Online Feedback on Business Plan (Excel Sheet) • Venture Cup Pitch Training Day • Jury Panel Pitch – Copenhagen City Hall (2nd of June) • 4 min pitch • 8 min Q&A • 10 min feedback • Venture Cup Final – Live pitch for audience – Copenhagen City Hall (3rd of June) • Winner of Cleantech category 50,000kr + final 200,000kr  Party + Champaign + HappinessLærke Holstebroe Jeanne Lønstrup
  35. 35. After the Venture Cup Final Accounting Advices Board of advisers Innovation Environments Student Incubator; Office space & business development sparring PrototypingLærke Holstebroe Jeanne Lønstrup
  36. 36. Problem …. And endedLærke Holstebroe Jeanne Lønstrup
  37. 37. What went wrong? • Lack of motivation & courage • A lot of tax • Not willing to share ownership with Venture Capitalists • Overlapping competencies in team • Prioritized university before business • Spent a lot of time on emails, university rights, practical stuff • Complexity of marketLærke Holstebroe Jeanne Lønstrup
  38. 38. 10 learnings #1: ”Just do it!” – mentality #2: Share your idea with other people #3: Work with something that interests you! #4: The right team is very essential #5: Take risks #6: Network - will open many doors #7: Talk to the user/experts and understand the context #8: Be curious and keep learning #9: Kill your darling & try again #10: Have funLærke Holstebroe Jeanne Lønstrup
  39. 39. Inspiration – The mushroom man Eben Beyer http://www.youtube.com/watch?v=Di-cvmSAQEQLærke Holstebroe Jeanne Lønstrup
  40. 40. Video from Dell Social Innovation Competition http://www.youtube.com/watch?v=LebCeHnr8R4Lærke Holstebroe Jeanne Lønstrup
  41. 41. Question? ”Its easier to teach a scientist business than to teach a business man science” ”Scientists are the best entrepreneurs” – Sharron BallardLærke Holstebroe Jeanne Lønstrup
  42. 42. References Picture - Trevor Snapp/ Bloomberg http://www.bloomberg.com/news/2010-12-23/shooting-gold-diggers-at- african-mine-seen-amid-record-prices.html Picture - IW Science http://projects.csg.uwaterloo.ca/inweh/display.php?ID=2451 Picture - BOP http://upload.wikimedia.org/wikipedia/commons/thumb/a/a7/Anti- capitalism_color.jpg/300px-Anti-capitalism_color.jpg IDE http://www.paulpolak.com/html/media_photo.htmlLærke Holstebroe Jeanne Lønstrup