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Enablers of Growth Entrepreneurship – Company and Policy Views. Will Cardwell Head, Aalto Center for Entrepreneurship
My Background and short case Study: Valimo Wireless
WHAT PUT US OVER THE TOP? FinnishNetwork HR Agility Facebook Roberto Carlos Focused IP ReverseLearning WHAT HELD US BACK? Dripfed Finance ComplexEcosystem UnproductivePartnerships DistressedCustomers Small home market Uneducated Public FragmentedTechnical Solutions
Innovation research SME research ?? The fourcornerstones of ACEBuilding successful companies that create jobs and prosperity. Entrepreneurship Education Entrepreneurship Research Growth Venturing and Start-Up Services Innovation Services and Technology Transfer
Highlights for ACE 2010Major new sales of Aalto patents to Finnish industry. 111 Record number of inventions from Aalto. Record number of priority patent applications filed based on Aalto Research. 50 Record number of startups formed from Aalto-based ideas. 15 Strong new partnership with Stanford Technology Ventures, Stockholm School of Entrepreneurship, Tokyo University 3
Degree of participation Inventor / team Aalto competence commercialization process Department ACE team Aalto community / research Markets Commitmentfrom all parties is needed to make it happen!
Competence commercialization process Aalto community Proposal Evaluation, concept development & validation of knowledge Start-ups Business potential Intellectual Property Rights Feasibility Intellectual property Licenses
All are evaluated, not all commercialized 200 10 Proposal 300 Start-ups 15 Evaluation 250 Concept development Intellectual Property Rights 15 prior. apps 30 Validation 10 Licenses >200 k€ income 50 10 5 Innovation ‘fast track’
9 Roadmap for Stanford Partnership The program is 3-years, with the following high-level roadmap: 2011 - Inspiring Stanford Faculty on the potential of Finland- Inspiring Aalto community on value of Stanford collaboration - Identifying key Aalto faculty and student change-makers, and executing initial exchange 2012 - Facilitating a growing amount of exchange- Building Aalto curriculum and offering first courses- Continuing inspiration, i.e. executing the Accel Roundtable on Entrepreneurship Education 2013 - Building out new curriculum contributions and adding courses - Continue inspiring, developing, and exchanging Click to edit Master text styles Click to edit Master text styles
SomePositiveSigns We see many things in the ecosystem around Aalto that are encouraging: NO:1&2 Aalto startups Rovio (Angry Birds!) and Remedy Entertainment created number 1 and 2 global game titles . Amount of VC into Finnish early and expansion stage companies through May 2011, 4x 2010 or 2009 92m€ 2M€+ Large funding round to University spinouts, i.e. Canatu and Blaast, and more forthcoming