Your SlideShare is downloading. ×
Aau   entrepreneurship+innovation - sept13
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Saving this for later?

Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime - even offline.

Text the download link to your phone

Standard text messaging rates apply

Aau entrepreneurship+innovation - sept13

1,448
views

Published on

A practical introduction to - and overview of - the entrepreneurship journey, based on the ecosystem in Copenhagen area. From a lecture, I gave at Aalborg University CPH for engineer candidates …

A practical introduction to - and overview of - the entrepreneurship journey, based on the ecosystem in Copenhagen area. From a lecture, I gave at Aalborg University CPH for engineer candidates (cand.polyt study) in the 'Entrepreneurship, Innovation & Business models'-course as part of the 'Converging Mediatechnology' track.

Published in: Business, Technology

0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,448
On Slideshare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
4
Comments
0
Likes
2
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. A PRACTICAL APPROACH TO INNOVATION - The Entrepreneurship Journey in the Ecosystem Johan Winbladh AAU – Sept. 2013 johanwinbladh@gmail.com M: 21915612 www.medieinnovation.dk Photo: Erik Johansson – Go Your Own Way
  • 2. • Marketing Strategist • Market Researcher • Commissioning Editor (new media) • Project Manager • Media Innovation Consultant About me (2) The ’about me’ slide • Media industry pioneer • 3 innovation consortiums • Organiser of Startup Weekend • Mentor, Coach, Advisor • CPH Entrepreneurship ecosystem networker
  • 3. The innovation strategy contains 27 policy initiatives regarding research, innovation and education. It focuses on a better knowledge exchange between companies and knowledge institutions, across borders and between the public and the private sector. http://fivu.dk/en/publications/2012/files-2012/innovation-strategy.pdf The National Innovation Strategy
  • 4. http://fivu.dk/en/publications/2012/files-2012/innovation-strategy.pdf 1. Innovation driven by societal challenges Demand for solutions to concrete societal challenges must be given higher priority in the public sector innovation effort. 2. More knowledge translated to value Focus on more effective innovation schemes and better mutual knowledge transfer between companies and knowledge institutions. 3. Education as a means to increase innovation capacity A change of culture in the education system with more focus on innovation and value creation. There are three focus areas in the strategy:
  • 5. http://fivu.dk/en/publications/2012/files-2012/innovation-strategy.pdf The National Innovation Strategy: Aims & objectives
  • 6. http://fivu.dk/en/publications/2012/files-2012/innovation-strategy.pdf The National Innovation Strategy: The System
  • 7. MEDIA EVOLUTION CITY, MALMÖ: Academia, commerce and industry and the public sector established Media Evolution City cooperating with and housing 100+ Startups on 7500m2 MEDIA CITY BERGEN, (NORWAY) : 50 small, large, new and old media companies moves in to 45,000 m2 in 2016 and gather 1500 people. The vision is to become an international hotspot for innovation and knowledge in media where at the same place is TV channels, newspapers, providers of media technology, Startups, education and research. Example: Connecting startups with established Biz (1)
  • 8. Perhaps you dream about something like this? Founded: 2009 in Copenhagen Acquired: 2012 by Citrix Systems for $43.6M Founded: 2005 in Copenhagen Acquired: 2008 by Vodafone for €31.5M in Cash Founded: 2001 in Copenhagen 425 employees, International offices, Topranked in industry Founded: 2007 in Copenhagen 250 employees, Headquarter in San Franisco, $86M in total investment. Founded: 2001 in Copenhagen Acquired: 350 employees, Serving 29.000 restaurants in 13 countries Founded: 2009 in Copenhagen 100+ employees, 200.000 customers in 193 countries, Total value $137M
  • 9. HOW DO YOU WANT TO DISRUPT?
  • 10. Exchange of goods or services can occur when: 1.Customers maximize utility from the good 2.Companies can maximize profit Both parties constantly evaluate opportunity cost
  • 11. THEART OF FAILING
  • 12. The path from idea to growth Time Networking Bootstrapping Accelerators Team-up Re-teaming Angels Investors A-funding Pivote B-funding Idea Desillusion Initiate Enthusiasm Proto typing Beta Product Launch Growth
  • 13. Entrepreneurship stage 1: Initiation –Team & Idea Build the Team carefully - performers attract investors Pitch the idea – addressing a customer need, fun to work with
  • 14. Entrepreneurship stage 1: Initiation - Networking
  • 15. PITCH YOUR IDEAS Concept development & Business models Entrepreneurship stage 1: Initiation – Kick off
  • 16. 110 PEOPLE. 54 HOURS.
  • 17. 40 PITCHES
  • 18. 12 IDEAS CHOOSEN TEAM FORMING: DEVELOPERS, BIZPEOPLE, DESIGNERS Photo: Ernst Poulsen
  • 19. Photo: Ernst Poulsen
  • 20. Photo: Ernst Poulsen
  • 21. Photo: Ernst Poulsen
  • 22. OUTCOME: • Lots of fails and learning! • 5 winners continued with accerator growth programmes • Tools for growth • At least 3 companies formed • Ambassador experience from entrepreneurship approach • Cultural change (bottom-up activism) • Networking across industries and specialists • Connections between corporations, entrepreneurs and students • Inspiration for educational institutions "The ideas, the spirit and the effectiveness of the groups was amazing to see, especially the work across different groups of developers, business people and people with completely different backgrounds were enormously rewarding." "Usually when you finish a project you sit with some long Word document or Power Point presentation. Here people created solutions that actually works and can be used, it is insanely impressive how much people have reached to build. It's really cool to be involved! “
  • 23. WHAT MAKES A WINNER ? JUDGE:Martin Thorborg JUDGE:Thomas Madsen-Mygdal JUDGE:Marrtin Ferro-Thomsen Business Model - The heart of it all. If you haven’t got answers to these questions, you’ve spent too much time on frills & features and need to get back to the basics: •Who is your customer? •What is your core value proposition? •What are your key activities? •What are your revenue streams? •What is your cost structure? •Who/what are your key partners/resources? •What are your distribution channels? •What is your customer acquisition / rollout strategy? Customer Validation:
- Solutions for real problems ! •Have you taken the proper steps to ensure that the people who matter (your future customers) support and reinforce your assumptions? •Think of Customer Validation as ‘evidence’ to back up the core structure of your ‘theory’ (your Business Model). •The more feedback you gather (quantity), the more this feedback comes from your specific target market (quality). •The more you’re able to actually integrate this feedback into the Business Model and product development (execution), the better. Execution – A High Performance Team? •What has your team been able to actually build over the weekend? •Have you established a “Minimal Viable Product” (the minimum set of features to be able to start collecting data) •Does you deliver a compelling and captivating user experience? Is it memorable? •Even the strongest of Business Plans are useless in the hands of those who can’t properly execute on them. •Getting as far as possible proves your strength and skills as a team. •This is what truly matters: investors don’t invest as in ideas so much as teams.
  • 24. Entrepreneurship stage 2: Bootstrapping • Tooling up and build for launch • The fragile path; but anyhow rewarding • Confusing, conflicts and Cool down…
  • 25. Entrepreneurship stage 2: Bootstrapping • Building the foundation • Getting to know each other • Gaining knowledge and insight (for free) • Continous inspiration (and pivoting) • Support and tools
  • 26. • It’s not about product features, but percieved value • Innovate all parts of the businessmodel to maximise growth opportunities CREATING CUSTOMER VALUE IMPLEMENT CONSULTING – VIEWPOINT NR. 4 / 2012 (implement.dk) •Key ressources •Key processes •Partner network •Value propsition •Value platform •Customer segments •Channel structure •Customer relations •Cost structure •Cash flows How do we create…. …valuable solutions and experiences… …for customers and partners… ..to provide profit for the firm?
  • 27. 71% increase in SMEs starting to use cloud services in US and EMEA (Source: Spiceworks, 2012) 64% of SMEs use at least ONE cloud-based service (Source: IDC) 70% are interested in cloud services (Source: Forrester, 2011) of SME’s SME demand for cloud based services will ‘skyrocket‘ - As existing users will increase usage + non-users will adopt (Source: IDC) Business cloud adoption in Europe lags behind the US by 2 years (Source: Guardian, 2012) Example: Market insight
  • 28. CRM TOOLS FRIENDS TRUSTED PARTNERS SOCIAL MEDIA STARTUP NETWORKS BOOTCAMP PARTNERS ENTREPRENEURS SOCIAL NETWORKS PROJECT MGMT TOOLS OPERATION MGMT TOOLS BRANDED NEWS SITES 3’rd PARTY RESSOURCES AFFILIATES BUSINESS INTELLIGENCE & ANALYTICS SALES TOOLS EKSTERNAL RECOMMENDERS PARTNER SITES BUSINESS TOOL SERVICE CHECK OTHER TOOLS TOOWL DATABASE COLLABORATION TOOLS TOOWL CROWD SOURCING OTHER PREMIUM SERVICES CROSS SELLING >> TIME >>YEAR 0 REVENUE STREAMS COST EFFECTIVE CLIENT AQUSITION BUILDING TRUST EXPANDING SERVICE AREAS NEXT STEPS IMPROVEMENTS FUTURE VISION COMMERCIAL LAUNCHBETA Example: Growth Roadmap
  • 29. The Wheel of Growth
  • 30. You are not alone…. The vibrant ecosystem
  • 31. What the entrepreneur also needs:
  • 32. Co-working space, office hotels, incubation • Inspiration, coffee, shared ressources • Mentors, coaching, training, events • Party, social life, collaboration • ….
  • 33. http://www.nestcopenhagen.dk/ http://www.fastupfront.com/blog/entrepreneurs/18-famous-college-dorm-room-businesses-that-made-millions/#sthash.V9Zc2nXQ.dpuf Famous College Dorm Room Businesses that Made Millions You can even live together…..
  • 34. Entrepreneurship stage 3: Dealing with Accelerators • Early stage Startup is high risk > High share for taking the risk! • Providing highly competent support and growth coaching • Choose with care > Chemistry, approach & shared objectives • May provide capital, connection to angels or preparing for investors
  • 35. You are not alone…. The vibrant ecosystemEntrepreneurship stage 4: Moving ahead • Expanding internationally • Going professional (Board, CEO etc) • Creating the culture • Increasing investments (& funds/loans)
  • 36. Tradeshift was awarded Best Enterprise Startup 2010 at The TechCrunch Europe startup award Tradeshift is used by over 200.000 businesses in 190 countries Example: From Tradeshift presentaion; Symbion Investor Day, dec 2012
  • 37. From Tradeshift presentaion; Symbion Investor Day, dec 2012 Example: Business of innovation PROGRESS •Are you making progress? •How do you know that you are making progress? •What are your assumptions? •How do you plan to test those assumptions? •What were the resultas of the tests you performed since last board meeting? INNOVATION ACCOUNTING Establish a baseline •Turn leap of faith assumptions into something quantifiable • Face the brutal facts • Measure where we are right now
  • 38. •Think and act like pirates •Think outside the box – challenge decisions •Agile •Validated Learning (it’s OK to make mistakes) •Team Camps •Transparency (all business aspects) •Break up structures From Tradeshift presentaion; Symbion Investor Day, dec 2012 Example: Pirate Culture http://www.computerworld.dk/art/225863/danske-tradeshift-her-er-hemmeligheden-bag-vores-succes
  • 39. From Tradeshift presentaion; Symbion Investor Day, dec 2012 Example: Knowledge & pitfalls Device experiments to learn • How to move the real numbers •Iterate (engine tuning) •Pivot or persevere WHAT COULD GO WRONG? •Crisis of confidence •Traditional management approach (failure of execution, failure to plan) •Plans are full of uncertainty •- how do we know, we learned something critical? • - How do we know, if we just goofed up?
  • 40. From Tradeshift presentaion; Symbion Investor Day, dec 2012 Example: Learning loop LEARNING THROUGH FEEDBACK •Low cycle time - learn fast. Fail fast. •Demonstrate value-creating activities in shortest possible time with least possible effort •Put in front of target audience and measure behaviour (#getoutofthebuilding) •Compare to baseline and learn VALIDATED LEARNING •Every action is based on assumptions •Right=progress. Wrong=wasted peoples time •Progress => moving towards sustainable growth •Value hypothesis: Why users will spend time with the product •Growth hypothesis: How new users come in contact with the product •Validation: We want to know that we learn the right thing
  • 41. Innovation Inside. February, 2010, TheRISE of the CREATIVE MASSES INNOVATION CULTURE
  • 42. Disruption from the inside: Media companies seek hope in incubators Example: Connecting startups with established Biz (2) “If you continue to disrupt our industry, we want to work with you.”
  • 43. http://www.15inno.com/wp-content/uploads/2012/06/Screen-Shot-2012-06-06-at-08.43.21.png READY FOR OPEN INNOVATION ?
  • 44. The intrapreneur Innovation Consortiums – connecting education with companies  Funded innovation  Creation of Startups  New knowledge and insight  New tools and methods Research vs. Product interest conflicts  Methodology vs. Conclusion communication Transforming knowledge to commercial output
  • 45. Innovation Inside. February, 2010, TheRISE of the CREATIVE MASSES INNOVATIONS CULTURE
  • 46. johanwinbladh@gmail.com M: 21915612 www.medieinnovation.dk