Digital Entrepreneurship in Europe
Wim De Waele
Thursday 16 May 13
ICT is the driving force
of innovation in many
sectors of society
The required eco-system
11/07/2013 3
Entrepreneurs
Venture
Capital
Investors
Professions
Government
Management
Large pools...
Wim De Waele
• Male
• 15 years in 1978
• Visited city library twice a week
and read between 5 to 10
books weekly
• Watched...
Ruben De Waele
• Male
• 15 years in 2011
• Visits city library and reads
one book a quarter (at most)
• Watches 10+ hours ...
iMinds wants to create
a lasting and positive impact
on society through
ICT innovation
9
10
40mio
380+
1,000+ 800+
TOTAL REVENUE
RESEARCHERS
START-UPS
from the iMinds incubation programs
PARTNERS in the iMinds e...
iMinds is truly an
INTERNATIONAL RESEARCH COMMUNITY
USA
Belgium
France
Netherlands
Greece
Italy
Turkey
China
Sri Lanka
Spa...
iMinds is member of the EIT ICT Labs
Education
Research
Business
STRATEGY TO CALL 2014:
 Incubation & Entrepreneurship
 ...
Employment Urbanization
Ageing
Society
Globalization
Public health
for all and
well-being
Environment
Cloud
computing
Inte...
Addressing top priorities with digital innovation
 Residential digital applications & mobility
 City infrastructure & e-...
From idea to business: our innovation toolbox
5+ years …1 yearTime-to-market
Strategic
research
Incubation &
Entrepreneurs...
Incubation & Entrepreneurship
11/07/2013 17
training & coaching
financing facilities
networking internationalization
Greetings from
Toronto
Greetings from
Louvain
Greetings
from
Dallas
Europe will have to wait for an
entrepreneurial culture like
Silicon Valley’s.
The beginnings of such a
culture have taken...
Research to entrepreneurship: instruments
23
(ICON) Research
Opportunity
recognition
iStart
iBoot
Discover business
opport...
Student entrepreneurship
24
 On-demand coaching
 Hands-on Workshops
 Facilities: Start-up Garage
 iStart.light
 Start...
Opportunity recognition workshop
 Goal of the workshop?
 Discover business opportunities
for the technology developed in...
iStart Incubation program
 Focus on business (plan) development
 Training and coaching
 Entrepreneur-in-Residence (EiR)...
iStart projects facts and figuresiStart projects facts and figures
Call Q4
2011
16 registrations
10 projects through
to 2n...
What can iMinds do to help you grow your startup?
 Identifying growth opportunities and tailored coaching
track as part o...
11/07/2013 29
Acceleration program – go global
International coaching, facilities, introductions,
networking and tailored ...
iStart portfolio
Healthcare
Manufacturing
EnergySmart Cities
TokenPKI
ICT
Media
iStart portfolio
iMinds created 12 new companies in 2012
54
32
12
APPLICATIONS
& FIRST ROUND
INTERVIEWS
SECOND ROUND
INTERVIEWS
TokenPKI
12...
• Point-of-sale solution for
restaurants and bars
• Cash register and business
intelligence in 1 tool
• Company founded Se...
• Point-of-sale solution for
restaurants and bars
• Cash register and business
intelligence in 1 tool
• Company founded Se...
All Venture 774 3.0
All Buyouts 431 13.0
Generalist 126
All Priv Equity 1,331 9.5
9.0
© Thomson Reuters 2009. All rights r...
iMinds generates follow-up financing
x 4.7 in 2012
Incubation financing
Follow-up financing
1069
800
2450
925
Private capi...
Seven Forces disrupting venture capital
 First, we have Amazon: It’s cheap to build, host, test, and optimize
software
 ...
Wim De Waele
wim.dewaele@iminds.be
38
Join us
@iminds
infoShare 2013: Wim De Waele - Creating Digital Innovation clusters in Europe [EN].
infoShare 2013: Wim De Waele - Creating Digital Innovation clusters in Europe [EN].
infoShare 2013: Wim De Waele - Creating Digital Innovation clusters in Europe [EN].
infoShare 2013: Wim De Waele - Creating Digital Innovation clusters in Europe [EN].
infoShare 2013: Wim De Waele - Creating Digital Innovation clusters in Europe [EN].
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infoShare 2013: Wim De Waele - Creating Digital Innovation clusters in Europe [EN].

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Wim De Waele / iMinds
Creating digital innovation clusters in Europe.
Nagranie z konferencji infoShare 2013 w Gdańsku.
Recorded at infoShare 2013 conference in Gdańsk, Poland.

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  • So, as I ‘ve just told you we had our offsite event / meeting in October last year.During that event / meeting we discussed our strategy for going forward. Probably you know that, as a result of this offsite meeting / event, we have set up a number of strategic task forces. We see that ICT is everywhere. ICT is becoming a key function in all sectors of (our) society. And it is transforming (has transformed) everyday life (It’s getting everywhere in our personal lives.)We can state that ICT is a driving force of innovation in all sectors of our society. It’s not just about telecommunications, or about IT platforms. No, “ICT is everywhere”.
  • 1985, I graduate from University and am convinced by my professor to go into research. Easily impressionable I go for it and end up doing research in artificial intelligence. At university all I have is an IBM PC with 640K of RAM to do this but my professor is ahead of his time and a strong believer in cooperation with industry. I end up at Siemens Corporation, who have money to pay for an Apollo Workstation, Apollo later got acquired by HP, which seem to have a bit of an identity crisis themselves now.
  • iMinds is indispensible in our modern society. By using computer programs and the Internet, we are able to work more efficiently, adress the bigger mobility issues and give better medical diagnose. ICT – and the Internet in particular – changes the way we communicate and the media we consume. A telephone at home is more than often replaced by Skype, television by Youtube and the paper by blogs. All around the world the growth in the ICT-sector contributes to the employment and the GNP (Gross National Product). Unfortunately, Europe is running behind the USA and Southeast Asia in the field of ICT. The main reason why the Flemish government invests in ICT research and development. Flanders has the ambition to become an important international player in this sector. This is whereiMinds steps in.
  • Definition of projects: All demand-driven projects since the start of iMinds (formerly IBBT). In other words: all internally financed projects (except ISBO) and all externally financed projects.Partners:Number of unique external partners.Start-ups = seeds + spin-offs37 Seeds:All signed iStart and iStart light projects/companies, including the former iProofs. 14 Spin-offs:As reported in the KPI report begin 2012. 17iMinds is indispensible in our modern society. By using computer programs and the Internet, we are able to work more efficiently, adress the bigger mobility issues and give better medical diagnose. ICT – and the Internet in particular – changes the way we communicate and the media we consume. A telephone at home is more than often replaced by Skype, television by Youtube and the paper by blogs. All around the world the growth in the ICT-sector contributes to the employment and the GNP (Gross National Product). Unfortunately, Europe is running behind the USA and Southeast Asia in the field of ICT. The main reason why the Flemish government invests in ICT research and development. Flanders has the ambition to become an important international player in this sector. This is whereiMinds steps in.
  • To end this part, I would like to mention that iMinds attracts people from all over the world , which (. And this) results in a significant brain gain for Flanders (is a brain engine for Flanders.)Currently, iMinds employs people of about 50 different nationalities (we already have about 50 nationalities present.)If we want to (do) / perform even better in the future, if we want to boost our technical and scientific excellence even more we have to keep attracting the best talents from all over the world.
  • Aims:Creating a new bread of entrepreneursEnabling excellent and multidisciplinary teams to develop breakthrough ideasSupporting innovators all the way to the market. Activities: EIT Master schools, living & experience labs, testbeds & simulation tools, softlanding & entrepreneurial education
  • The five market segments Media, Health, Manufacturing, Energy and Smart Cities are so-called vertical market segments. ICT is everywhere and becoming a key function in all sectors of (our) society. ICT is nowadays also called an enabling technology. Our organization has been market and demand driven from start, therefore it makes sense to segment the market based on (types of) industry and societal relevance.Developing a strategy is about focusing and making choices. It is impossible to be active in all (vertical) market segments. A coherent and focused strategy is required, so that we are able to leverage the know-how that is present at the institute and build up expertise in selected fields. There are two main elements that have played a role in selecting market segments.Firstly, ICT should respond to global trends and societal challenges and offer solutions. It is our core belief that ICT is the driving force of innovation in various sectors of society. Moreover, our organization’s mission states: iMinds wants to create a lasting and positive impact on society through ICT innovation. iMinds has carefully identified a number of grand societal challenges on the national and European agenda, such as our ageing society or unemployment. Additionally, iMinds is characterized as a demand-driven institute. The selected segments should therefore address local needs and value creation of research outcomes should be possible in Flanders. In short, there is a socio-economic relevance of the 5 verticals in Flanders and in Europe.Secondly, in the selection of iMinds vertical market segments, obviously the iMinds skills and competences should create substantial value. ICT cannot (yet) play a vital role for each societal challenge or in each industry.As a result, four of the selected vertical market segments are clear B2B markets, while the Smart Cities segments represents a current (EU) policy domain.Besides ICT we defined five vertical markets, namely media, healthcare, energy, smart cities and manufacturing.On the slide (projected behind me) you can see the relation between those five segments, and societal challenges and technologies.The same technology can be applied in different segments – and one segment can contribute to different societal challenges. First and foremost we are a strategic ICT innovation center. This is our core business. We help transferring technologies to ICT companies, and we help creating new ICT companies. But within the context of our cooperative research, like our ICONs, we will focus on ICT in combination with one of the five defined markets.These market segments will replace our former application domains. Compared to our application domains, Mobility and Social & Secure Software have been left out in this picture. In our belief, Mobility should from a residential perspective be covered in the Smart Cities segment and from a transport perspective in the Manufacturing segment. Security is a domain that should in essence be covered throughout all segments.
  • Media is covered in different iMinds Research Groups, such as MMLab or EDM. Recently our efforts in the field of media got re-inforced by the establishment of the Media Innovation Center, MIX. Media also includes topics like learning, culture and gaming, by the way.In the Healthcare segment, iMinds has a strong position in all elements. Life sciences, medical technologies – but also care and well-being as explained before in this talk.Energy and Smart Cities are markets in which iMinds also operates for a while. Manufacturing, however, is a new market segment for iMinds.New manufacturing methods, e.g., additive manufacturing, challenge old the economies of scale assumptions for manufacturing, as each item can be different at little or no extra cost, what is commonly referred to as mass customization. iMinds holds a strong position in several of the sub segments related to the factory of the future, most notably being the field of Logistics.
  • Let’s move on to our Fourth achievement of the year.In 2012 iMinds helped setting up 12 new companies as part of its seed incubator program.Last year, we received 54 applications of candidates who were asking iMinds to help establish their company.Twelve companieswereat the end selected, not onlygivingFlanders an economicboost, but alsorepresenting the growing entrepreneurial spirit in Flanders.
  • iMinds not only helped setting up those 12 companies, but also assisted them in fnding follow-up financing. As you can see, we invested one million euro and an amount of 4 million euro was contributed by external investors (was found externally.)
  • infoShare 2013: Wim De Waele - Creating Digital Innovation clusters in Europe [EN].

    1. 1. Digital Entrepreneurship in Europe Wim De Waele Thursday 16 May 13
    2. 2. ICT is the driving force of innovation in many sectors of society
    3. 3. The required eco-system 11/07/2013 3 Entrepreneurs Venture Capital Investors Professions Government Management Large pools of private capital Public Stock Markets  Major Corporations  Strategic Investors  R&D Centers  Potential Acquirers Universities
    4. 4. Wim De Waele • Male • 15 years in 1978 • Visited city library twice a week and read between 5 to 10 books weekly • Watched 10 to 15 hours of TV • Did not practice enough sports, and spent most much time running a youth club • Bought his first computer in 1982
    5. 5. Ruben De Waele • Male • 15 years in 2011 • Visits city library and reads one book a quarter (at most) • Watches 10+ hours of TV or DVD a week • Spends all the time his parents allow him to gaming • Practices sports when not gaming
    6. 6. iMinds wants to create a lasting and positive impact on society through ICT innovation 9
    7. 7. 10 40mio 380+ 1,000+ 800+ TOTAL REVENUE RESEARCHERS START-UPS from the iMinds incubation programs PARTNERS in the iMinds ecosystem PROJECTS with the industry 50+ 1,000+ PUBLICATIONS on a yearly basis
    8. 8. iMinds is truly an INTERNATIONAL RESEARCH COMMUNITY USA Belgium France Netherlands Greece Italy Turkey China Sri Lanka Spain Japan Germany Ecuador Colombia Serbia India Romania Iran United Kingdom Brazil Vietnam Palestine Pakistan Croatia Bulgaria Sweden Poland Mexico Israel Hungary Egypt Switzerland Belarus Austria Slovakia Portugal Algeria Czech Republic Canada Argentina Tunisia , Syrian Arab Republic Singapore Russia Malaysia Congo Hong Kong Myanmar Ethiopia Finland Macedonia Latvia Lithuania Grenada Côte d'Ivoire 2012 iMinds is truly an INTERNATIONAL RESEARCH COMMUNITY USA Belgium France Netherlands Greece Italy Turkey China Sri Lanka Spain Japan Germany Ecuador Colombia Serbia India Romania Iran United Kingdom Brazil Vietnam Palestine Pakistan Croatia Bulgaria Sweden Poland Mexico Israel Hungary Egypt Switzerland Belarus Austria Slovakia Portugal Algeria Czech Republic Canada Argentina Tunisia , Syria Singapore Russia Malaysia Congo Hong Kong Myanmar Ethiopia Finland Macedonia Latvia Lithuania Grenada Côte d'Ivoire 201255 nationalities
    9. 9. iMinds is member of the EIT ICT Labs Education Research Business STRATEGY TO CALL 2014:  Incubation & Entrepreneurship  Living & Experience Labs  Health & Wellbeing iMinds associated partnership to NL node & 60 innovative ICT actors in Europe
    10. 10. Employment Urbanization Ageing Society Globalization Public health for all and well-being Environment Cloud computing Internet of Things Big Data Connectivity & Sensor systems Security & Privacy Social & context based IT iMinds focus: ICT and five vertical markets Societal challenges Markets Technologies Leveraging our research assets in multiple markets
    11. 11. Addressing top priorities with digital innovation  Residential digital applications & mobility  City infrastructure & e-City  New production (3D printing, robotics) & logistics  Virtual factory, optimization & automation  Patient-centric Care & Wellbeing  Hospital MedTech & Pharma Lifesciences  Broadcast, Print & on-line  Production & Gaming companies  Smart Grid Networks with security & resilience  Residential Smart Homes & electrical cars  Telecom, IT infrastructure & Cloud providers  Web & Application software companies
    12. 12. From idea to business: our innovation toolbox 5+ years …1 yearTime-to-market Strategic research Incubation & Entrepreneurship Applied Research Pre-competitive testing Knowledge- driven Explorative Basics for applied research Training & coaching Financing Facilities Networking Internationali- zation Business-driven Interdisciplinary Demand-driven Cooperative Proof of Concept Large-scale user trials & living labs Evaluate technical feasability Simulations
    13. 13. Incubation & Entrepreneurship 11/07/2013 17 training & coaching financing facilities networking internationalization
    14. 14. Greetings from Toronto
    15. 15. Greetings from Louvain
    16. 16. Greetings from Dallas
    17. 17. Europe will have to wait for an entrepreneurial culture like Silicon Valley’s. The beginnings of such a culture have taken root in recent years. Economist Feb 2011
    18. 18. Research to entrepreneurship: instruments 23 (ICON) Research Opportunity recognition iStart iBoot Discover business opportunities Launch a startup company Grow a company Draft business proposition 1 2 3 4 Business Acceleration & Internationalization
    19. 19. Student entrepreneurship 24  On-demand coaching  Hands-on Workshops  Facilities: Start-up Garage  iStart.light  Startup Grid
    20. 20. Opportunity recognition workshop  Goal of the workshop?  Discover business opportunities for the technology developed in the ICON project  Develop entrepreneurial skills of researchers and Ph.D. students  Format: Focused workshop combines teaching of methodologies and concepts and the hands-on application 25 Part of Doctoral school program at several universities
    21. 21. iStart Incubation program  Focus on business (plan) development  Training and coaching  Entrepreneur-in-Residence (EiR)  6-18 months, max. €50K  4 calls per year Conditions to participate:  Mature ICT-related idea  Technological Proof-of-Concept (PoC)
    22. 22. iStart projects facts and figuresiStart projects facts and figures Call Q4 2011 16 registrations 10 projects through to 2nd round 4 projects selected 2 projects signed the incubation agreement Call Q1 2012 17 registrations 10 projects through to 2nd round 4 projects selected 4 projects signed the incubation agreement Call Q2 2012 14 registrations 9 projects through to 2nd round 4 projects selected 3 projects signed the incubation agreement Call Q3 2012 5 registrations 5 projects through to 2nd round 2 projects selected 2 projects signed the incubation agreement Call Q4 2012 18 registrations 8 projects through to 2nd round 3 projects selected 3 projects signed the incubation agreement numerous projects registered before the iStart call system was introduced 10 projects selected 9 projects signed the incubation agreement Call Q1 2013 19 registrations 8 projects through to 2nd round 6 projects selected 6 projects signed the incubation agreement
    23. 23. What can iMinds do to help you grow your startup?  Identifying growth opportunities and tailored coaching track as part of the Flemish Gazelle program  Access to finance through coaching and networking  Growth through Smart Innovation  iCubes office facilities 11/07/2013 28 Acceleration program – grow local
    24. 24. 11/07/2013 29 Acceleration program – go global International coaching, facilities, introductions, networking and tailored business development GO WEST Partnership with Local incubators, supported by FIT GO EAST Singapore office European network of incubators
    25. 25. iStart portfolio Healthcare Manufacturing EnergySmart Cities TokenPKI ICT Media
    26. 26. iStart portfolio
    27. 27. iMinds created 12 new companies in 2012 54 32 12 APPLICATIONS & FIRST ROUND INTERVIEWS SECOND ROUND INTERVIEWS TokenPKI 12 NEW COMPANIES
    28. 28. • Point-of-sale solution for restaurants and bars • Cash register and business intelligence in 1 tool • Company founded Sep 2012 • Large distributor deal with Griffin Technologies • Horeca Expo Innovation Award Service 2012 • Reseller contracts worldwide • More than 15,000 app downloads • Software-as-a-service app • Integration with back-end, printers, menus and much more • Mobile integration • Business reporting • iStart Incubation Program • Go West internationalization program • Startup Garage resident OBJECTIVES KEY RESULTS APPROACH KEY ELEMENTS POSiOS Restaurant POS company – iMinds spin-off www.posios.com 3311/07/2013
    29. 29. • Point-of-sale solution for restaurants and bars • Cash register and business intelligence in 1 tool • Company founded Sep 2012 • Large distributor deal with Griffin Technologies • Horeca Expo Innovation Award Service 2012 • Reseller contracts worldwide • More than 15,000 app downloads • Software-as-a-service app • Integration with back-end, printers, menus and much more • Mobile integration • Business reporting • iStart Incubation Program • Go West internationalization program • Startup Garage resident OBJECTIVES KEY RESULTS APPROACH KEY ELEMENTS POSiOS Restaurant POS company – iMinds spin-off www.posios.com 3411/07/2013
    30. 30. All Venture 774 3.0 All Buyouts 431 13.0 Generalist 126 All Priv Equity 1,331 9.5 9.0 © Thomson Reuters 2009. All rights reserved Table 2. Investment Horizon IRRs to 31.12.2008 Fund Type 1 Yr 3 Yr 5 Yr 10 Yr 20 Yr Early Stage VC -12.2 -2.5 -0.4 -2.6 -1.3 Development Stage VC -20.5 0.5 4.3 3.8 7.4 Balanced VC -23.6 0.6 2.1 0.2 3.0 All Venture -19.6 -0.6 1.8 0.2 3.0 Small & Medium Buyout -16.7 6.6 10.0 12.2 13.9 Large Buyout -15.4 10.4 10.9 19.1 19.6 Mega Buyout -33.8 1.0 11.1 9.2 9.1 All Buyout -31.0 3.5 10.8 11.6 12.9 Generalist -43.8 4.2 7.2 7.6 9.0 All Private Equity -30.5 2.6 8.1 8.0 9.6 © Thomson Reuters 2009. All rights reserved European VC Environment
    31. 31. iMinds generates follow-up financing x 4.7 in 2012 Incubation financing Follow-up financing 1069 800 2450 925 Private capital Other public capital Spin-off financing (SOFI) iStart (x 1,000 €)
    32. 32. Seven Forces disrupting venture capital  First, we have Amazon: It’s cheap to build, host, test, and optimize software  Secondly, Angel Investors: Once a products gets to some proof of concept, an entrepreneur can raise seed funding from an incredibly wide range of sources.  Third, we have AngelList: Social software pairing investors and investment opportunities  Fourth, we have Kickstarter: crowdfunding  Fifth, there’s Y Combinator: sophisticated incubators  Sixth, is “New” Venture Capital: operationalizing services such as business development.  And, finally, seventh are secondary markets: liquidity Semil Shaw TechCrunch April 2012
    33. 33. Wim De Waele wim.dewaele@iminds.be 38 Join us @iminds

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