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  • Wehavehadthemalready in a way, buthavetroublecapturingmarketvalue.Nokia: 2.50 to 60 (1994 to 2001, then 40 to 10 (2008 to present)Whyaretheyimportantnow:Employment? Wealth? RoleModel? Allthree

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  • 1. EnablingBlack Swans – Entrepreneurial University, Start-ups, and the InnovationEcosystem
    German – FinnishDialogues
    29th October 2010
    Berlin
    Will.Cardwell@Aalto.Fi, Director
  • 2. What is ACE Today ?
    xES
    Entrepreneurship
    Education
    NoteCombo of
    Academic
    And
    Practice!
    Entrepreneurship
    Research
    Innovation Services
    and Technology
    Transfer
    Growth
    Venturing and
    Start-Up Services
  • 3. The Vision of ACE
    by 2020Enormous impact on globally challenging problems
    by2015Finland into the top ten high-growth communities in the world
    2010-2011Producing success stories and building confidence in Aalto community and beyond
  • 4. ACE Innovation Services in Numbers
    4
  • 5. How Will WeDothis?
    By creating an environmentfriendly to the emergence of positive Black Swans…
    And capturing a bettershare of the valuethistime!
  • 6. Caveats and Disclaimers
    I AMsaying:
    Finland/Europeneeds to create MANY €100MM+ growthcompanies to make the demographicmath of the futurework
    We, as University communities, canlay the foundations for theirbirth and growth, butit is challenging and wemust LEARN how to dothat
    I AM NOTsaying:
    Thateverybodyshouldtunetheirstartup to try to be a BlackSwan
    That the guys at the Black Swanswill (necessarily) be the richest, thoughhopefullyso…
    ThatwecanevenguaranteeanyBlack Swanswillemerge
    6
  • 7. What’s a Black Swan in thisContext ?
    • DefiesPrediction
    • 8. Makes a MassiveImpact
    • 9. WemakeupExplanationsAfterward
    Haveweeverhadany, and whyaretheysoimportanttoday?
  • 10. The Counter-IntuitiveReality of the Black Swan
    Link
    8
  • 11. 5 Conditionsthatmustbepresent to raise the probabilityof PositiveBlack Swans
    Plus, whatitmeans for the Entrepreneur!
    * Props to my friend and colleagueHerve Lebret at EPFL for much of the research and thinkinghere, seehisbook”The StartupBook”
  • 12. 1. On Passion…
    Ecosystem: promotes and rewards passion and ambition
    Entrepreneur: Focus on huge, game-changingproblems
    …and, letsnotbeat the billion euro ambition out of ourfounders !
    Link
    10
  • 13. 2. On Risk-taking and Uncertainty…
    Ecosystem: promotespioneering spirit embracing uncertainty, risk-taking and tolerating failure
    Entrepreneur: Youmustnotfail! (butits OK ifyoudo, keeptrying!)
    You just cannothave a Plan B !!
    Link
    Link
    11
  • 14. 3. On Youth and Energy…
    Ecosystem: Attract founders, who are ideally young, energetic and possibly migrants, and support them patiently
    Entrepreneur: Startearly! Universities will probably drive the next Black Swan. And, DON’T BE PATIENT!
    12
  • 15. About
    34
    About
    26
    13
  • 16. Cisco’sGrowth
    14
  • 17. 4. On Customers…
    Ecosystem: Innovation and commercialization via a trial and error process, this includescustomers !
    Entrepreneur: Get out of the officeall the time – live and breathewithcustomers.
    And customers: ifyoudon’tpay, youarepart of the productorservice, act likeit!
    Link
    15
  • 18. 5. On Teams…
    Entrepreneur: Bring in the bestwherevertheycomefrom.
    Ecosystem: Freedom offered to talent who should not be snatched from start-ups. Talent (and capital!) MUST be mobile!
    Link
    16
  • 19. Whatarewetrying to do at ACE to enablethis?
    A Deep International Network
    Bringworld-classlecturers, practitioners and studentsIN
    SendourcommunityOUT to globalhotspots.
    SupportREGULARbootcamps and eventsaroundkeythemes
    Createwinning IP strategies
    Raise the overallIMAGE of GrowthEntrepreneurship
    Collaboratefluentlywithour national and regionalecosystem!
    17
  • 20. Its their world,we just live in it !!
    aaltovg.com
    twitter.com/
    aaltogarage
  • 21. Spin-offsfrom Aalto University
    Is the next
    Black Swan in
    this list !?!
  • 22. Or here ??
  • 23. Any Ideas? Invented Something?
    Contact us directly:
    Will Cardwell, Head, 040 514 1325
    Pauli Laitinen teamleader+ innovationmanager, 050 338 0509
    Panu Kuosmanen technologytransfermanager, 050 384 1600
    Tapio Mäenpää Innovationmanager, 050 512 2485
    Antti Aarnio, business development, 040 503 6634
    Teemu Seppälä developmentmanagerTULI, 050 301 1192
    Or looked at: http://ace.aalto.fi
    21