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Ecosystems presentation
 

Ecosystems presentation

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    Ecosystems presentation Ecosystems presentation Presentation Transcript

    • INTRO Understanding business ecosystems 2012
    • INTROFast growing new companies are important for jobs and wealth Entrepreneurs are a key mechanism for turning knowledge into products and jobs Entrepreneurs are a key driver for competition 2012
    • INTRO Denmark has a major challenge in scaling up new companies We need to meet this challenge to create jobs in the global knowledge economy. 2012
    • INTRO In Denmark, very few companies realise their global potential compared to the US Source Nordic Entrepreneurship Monitor, Fora 2010 2012
    • INTROIn Denmark, new companies account for 9% of theemployment. In the US, new companies account for 25% of the employment. DK USA More than 10 years old 1-10 years old 0-1 years old Source Ibsen og Westergaard-Nielsen (2010): Job creation by Firm in Denmark & Haitiwanger og Miranda (2010): Who Creates Jobs? Small vs. Large vs. Young. Se FORA (2010): Den danske produktivitetsudfordring. 2012
    • INTRO In the US about 90 young companies each year reach more than 1000 employees. In Denmark, it has not happened in many years. For Denmark to match the US   1 or 2 young companies must every year reach more than 1000 employees Source Nordic Entrepreneurship Monitor, Fora 2010 2012
    • INTRO In the US, some regions are good in creating fastgrowing new companies while some regions are not. Why do these new high-tech clusters emerge in some places and not in others? 2012
    • INTRO Because new companies succeed in good business ecosystems which only exist in some regions 2012
    • INTRO But what is an ecosystem? 2012
    • INTRO ECOSYSTEMS Can the ecosystems in nature help our understanding of business ecosystems? 2012
    • INTRO ECOSYSTEMS We asked three questions about business ecosystems Why do strong business ecosytems emerge in some places and not in others? How strong are the Danish business ecoystems compared to best practice? How can business ecosystems be reshaped? 2012
    • INTRO ECOSYSTEMS REPORTS This study has been summarized in 3 reports Benchmark Report Travelogues Danish Biotech Ecosystem 2012
    • INTRO ECOSYSTEMS REPORTS Benchmark Report We have benchmarked regional ecosystems in IT, Biotech and Cleantech in USA, Canada and Europe The benchmarks are based on 4 indicators: Dealmakers, Venture capital, Patents, Location coefficient 2012
    • INTRO ECOSYSTEMS REPORTS It seems possible to make a valid ranking of ecosystems based on the four indicators. The best ecosystems are located in the US. Europe has no ecosystems that match the best ecosystems in USA 2012
    • INTRO ECOSYSTEMS REPORTS Seattle Northern Europe Minneapolis Boston Chicago Denver Silicon Valley Research Triangle Park, Raleigh-Durham San Diego Phoenix AustinUSA Stockholm Copenhagen IT & Tele Biotech CambridgeEcosystem ratings for USA and Northern EuropeSource: Own calculations London 2012
    • INTRO ECOSYSTEMS REPORTS Travelogues We have interviewed people in strong and less strong ecosystems in US. Some of the interviewed have helped create the ecosystem or have been key players in the ecosystem. 2012
    • INTRO ECOSYSTEMS REPORTS Strong ecosystems emerge when open and innovative companies - mother companies - are active in the ecosystem AND When successful entrepreneurs - serial entrepreneurs - remain in the region and reinvest time and resources 2012
    • INTRO ECOSYSTEMS REPORTS Groupon has been a big success, and theSeattle, Washington company founders are Chicago guys who will stay and invest in Chicago. CHK Conversation with Craig C. Bradley, “The ecosystem in Seattle started Edwars Wildman growing only when Amazon and Starbucks started with their open and innovative culture.” Conversation with Franck Nouyrigat, Chicago,Illinois Start-up Weekend Seattle Denver, Colorado ”The serial entrepreneurs are an Research Triangle Park, North Carolina important element in the ecosystem.” Paul Jerde, Leeds School of Business “If SAS Institute and RedHat had the same open and innovative culture as many companies in SiliconValley and Austin, RTP could have been one of Americas very successful entrepreneurial regions.” Amit Singh, entrepreneur of Indian origin, 800 employees, including 50 in RTP 2012
    • INTRO ECOSYSTEMS REPORTS Danish Biotech EcosystemWe interviewed key players from the emergence of Danish biotechInternational data on employment, venture capital and university research illustrates the standing of the Danish biotech cluster 2012
    • INTRO ECOSYSTEMS REPORTS The biotech cluster in Copenhagen is one of the biggest in Europe, but far behind the best clusters in the US The reason for the relative success was access to venture capital and experienced professionals from established companies e.g. Novo Nordisk 2012
    • INTRO ECOSYSTEMS REPORTS The reason Copenhagen is behind the best US clusters is a lack of experienced management teams to scale the new biotech companies 2012
    • INTRO ECOSYSTEMS REPORTS “In the late 1990s there was relatively easy access to venture capital. There was a "It can be a challenge to become CEO of a strong belief in the new technology, and new biotech company for an employee e.g. there was access to public financing from from Novo or Lundbeck if they have not been the Danish Growth Fund. Zealand Pharma part of the management team where the managed to raise 175 million in seed strategic overview is often developed." capital in 1998.” Eva Steiness, newpharma.dk Eva Steiness, newpharma.dk “Many of the leading Danish biotech companies started from 1998 to 2001. It was especially talented people from Novo, who had some great ideas and got a pat on the shoulder from the company. This has undoubtedly contributed to the Danish biotech cluster being among the worlds largest clusters today.” Vækstfonden New Pharma Christian Motzfeldt, Vækstfonden Copenhagen Business School "The culture in the big companies play an important role in Danish biotech. It is important that employees can go out in a new business during a period without the door being closed behind them. Established companies can be important birth attendants when their employees want to break new ground and start their own business." Mads Øvlisen,Copenhagen Business School 2012
    • INTRO ECOSYSTEMS REPORTS The key question is: Why do ecosystems emerge in some places and not in others? 2012
    • INTRO ECOSYSTEMS REPORTS There must be good framework conditions for entrepreneurship including access to the necessary resources in terms of knowledge, skills and capital This is the case in many places in the world 2012
    • INTRO ECOSYSTEMS REPORTS But to make a difference Large established companies must be open and play an active role in the ecosystem And successful entrepreneurs must stay in the region and reinvest their time and resources in the ecosystem 2012
    • INTRO ECOSYSTEMS REPORTS A model of the Ecosystem option 1 option 2Scalable phase Competencies Knowledge 500+ 5 years + Support CapitalGrowth phase 10-40 2-5 years Competencies Knowledge Support CAPITALStart-up phase COMPETENCIES Venturecapitalists KNOWLEDGE Companies Universities 3-10 1-2 years SUPPORT Advisors 2012
    • INTRO ECOSYSTEMS REPORTS A model of the EcosystemScalable phase option 3 Competencies Knowledge 500+ 5 years + Support CapitalGrowth phase 10-40 2-5 years Competencies Knowledge Support CAPITALStart-up phase COMPETENCIES Venturecapitalists KNOWLEDGE Companies Universities 3-10 1-2 years SUPPORT Advisors 2012
    • INTRO ECOSYSTEMS REPORTS A model of the EcosystemScalable phase 500+ 5 years +Growth phase 10-40 2-5 yearsStart-up phase 3-10 1-2 years 2012
    • INTRO ECOSYSTEMS REPORTS A model of the EcosystemScalable phase Competencies Knowledge 500+ 5 years + Support CapitalGrowth phase 10-40 2-5 years Competencies Knowledge Support CAPITALStart-up phase COMPETENCIES Venturecapitalists KNOWLEDGE Companies Universities 3-10 1-2 years SUPPORT Advisors 2012
    • INTRO ECOSYSTEMS REPORTS A model of the EcosystemScalable phase Competencies Knowledge 500+ 5 years + Support CapitalGrowth phase 10-40 2-5 years Competencies Knowledge Support CAPITALStart-up phase COMPETENCIES Venturecapitalists KNOWLEDGE Companies Universities 3-10 1-2 years SUPPORT Advisors 2012
    • INTRO ECOSYSTEMS REPORTS A model of the Ecosystem 2012
    • INTRO ECOSYSTEMS REPORTSUntil now it has been a widespread assumption that strong ecosystems develop randomly - BUT based on our findings, we will argue that this could happen by intent anywhere 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION CALL FOR ACTION Who should act? Established companies Venture capitalists Universities Politicians 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION Established companies Established companies gain from being located in a strong ecosystem Partnerships and collaborations between established companies and entrepreneurs are beneficial for both 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION Circulation of employees is an advantage for both entrepreneurs and established companies Spin-outs are an important building block in the ecosystem Support and collaboration with universities fertilises the whole ecosystem 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION Capital Capital has more investment opportunities in strong ecosystemsCapital has a special responsibility to get the right management team in place Venture capital has an important role to secure that the founder is part of the whole journey 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION Entrepreneurship is a repeated business, and venture capital has a special responsibility to bring the experience further Venture capital plays a crucial role in creating successful entrepreneurs with financial resources that stay in the region and bind the ecosystem together Pension funds have a long term interest in a strong venture capital industry 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION Building a new industryrequires large investments from pensions funds and other capital funds 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION Universities Universities benefit from taking an active part in strong ecosystems Universities gain from partnerships and collaborations with entrepreneurs and established companiesUniversity spin-outs are important for developing the ecosystem 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION Universities can benefit from dedicated entrepreneurship centers with the task of interacting with the ecosystem 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION Politicians Politicians have an unique opportunity to putecosystems on the agenda and raise awareness about the importance of strong ecosystems Politicians can encourage public owned companies and institutions to be active in the ecosystems Politicians can ensure that public owned universities are active in the ecosystems 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION SIGN UP! 2012
    • INTRO ECO-SYSTEMS REPORTS ACTION www.foragroup.dk SIGN UP! 2012
    • Thank You! 2012