21st century finnish economy 090611
 

21st century finnish economy 090611

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21st century finnish economy 090611 21st century finnish economy 090611 Presentation Transcript

  • Building A 21st Century Economy in Finland
    Aalto University is Leading the Way
  • Why Start New Companies in Finland?
  • Because Old Ones Die
  • Corporate Lifecyclesare Getting Shorter
  • Disruption
    Technology, Globalization, Regulation, Consumer Taste
  • Disruption
    Technology, Globalization, Regulation, Consumer Taste, Competition, etc.
  • Job Growth Will Come From New Companies
  • Job Growth Will Come From New Companies
    Startups
  • Aalto is Leading the Way
    Center for Entrepreneurship, Startup Sauna, Venture Garage, Entrepreneurship Society
  • Alto is Leading the Way
    Center for Entrepreneurship, Startup Sauna, Venture Garage, Aalto Entrepreneurship Society
  • First -What’s A Startup?
    Six Types of Startups
  • Startup
    Lifestyle Startups Work to Live their Passion
    • Serve known customer with known product
    • Get paid for their passion
  • Small Business
    Startup
    Small Business StartupsWork to Feed the Family
    • Serve known customer with known product
    • Feed the family
  • Small Business
    Startup
    Exit Criteria
    • Business Model found
    - Profitable business
    • Existing team
    < €100K in revenue
    Small Business StartupsWork to Feed the Family
    • known customer known product
    • Feed the family
  • Scalable
    Startup
    Large Company
    Scalable StartupBorn to Be Big
    Search
    Goal is to solve for:
    unknown customer and unknown features
  • Execute
    Search
    Scalable
    Startup
    Large Company
    Exit Criteria
    • Business model found
    • Total Available Market > €300m
    • Can grow to €50/year
    Scalable StartupBorn to Be Big
  • Scalable
    Startup
    Large Company
    • Total Available Market > $500m
    • Company can grow to $100m/year
    • Business model found
    • Focused on execution and process
    • Typically requires “risk capital”
    Scalable StartupBorn to Be Big
    Execute
    Search
    • In contrast a scalable startup is designed to grow big
    • Typically needs risk capital
    • What Silicon Valley means when they say “Startup”
  • Buyable StartupBorn to Be Sold
    Search
    Sell
    Scalable
    Startup
    €3 to 30M Acquisition
    Goal is to solve for:
    Internet, Mobile, Gaming Apps
  • Buyable Startup
    Search
    Sell
    Scalable
    Startup
    €3 to e0M Acquisition
    Goal is to solve for:
    Internet and Mobile Apps
    Sell to larger company
  • Large Company Sustaining InnovationInnovate or Evaporate
    Sustaining Innovation
    Transition
    Scalable
    Startup
    Large Company
    • Existing Market / Known customer
    • Known product feature needs
  • Large Company Disruptive Innovation
    New Division
    Transition
    Large Company
    Disruptive Innovation
    • New Market
    • New tech, customers, channels
  • Large Company Disruptive Innovation
    New Division
    Transition
    Large Company
    Disruptive Innovation
    • Build
    • Partner
    • Acquire
    - IP- Talent
    - Product
    - Customers
    - Business
  • Large Non-Profit
    Social Startup
    Social Entrepreneurship Startups
    • Solve pressing social problems
    • Social Enterprise: Profitable
    • Social Innovation: New Strategies
  • Each of these startups require different skills
    They Can Not Be Taught the Same Way
  • Entrepreneurship as a Management Science
    E-School instead of B-School
  • Business as a Management Science
    • 1601 East India Company
    • 300 years of companies without MBA credentials
    • 1908 Harvard first MBA
  • Business School Topics
    Business School
    Scalable
    Startup
    Transition
    Large Company
    • Execution
    • Strategy
    • Accounting
    • Products
    • Engineering
    • Management
    • Administration
  • Business School Courses
    Business School
    Scalable
    Startup
    Transition
    Large Company
    Courses
    • Managerial Finance/Accounting
    • Managing Groups and Teams
    • Financial Accounting
    • Operations
    • Modeling for Optimization
    • Global Value Chain Strategies
  • Business School Results?
    • U.S. corporations went from local to national then international
    • Cadre of experienced managers to match
    • Experts on finance and growth (Dupont/GM)
    B-Schools made the 20th Century the American business century
  • Business School Versus Entrepreneurship School
    Entrepreneurship School
    Business School
    Scalable
    Startup
    Transition
    Large Company
    • Hypothesis testing
    • Business Model design
    • Customer Development
    • Agile Development
    • Metrics
    • Venture Finance
    • Design Thinking
    • Execution
    • Accounting
    • Products
    • Engineering
    • Management
    • Administrative
  • Business School Versus Entrepreneurship Courses
    Business School
    Entrepreneurship School
    Scalable
    Startup
    Transition
    Large Company
    Courses
    • Lean Launchpad
    • Customer/Agile Development
    • Business Model Design
    • Entrepreneurial Management
    • Creativity and Innovation
    • Entrepreneurial Finance
    • User-centric design
    Courses
    • Managerial Finance/Accounting
    • Managing Groups and Teams
    • Financial Accounting
    • Operations
    • Modeling for Optimization
    • Global Value Chain Strategies
  • Aalto Will Educate the 21st Century
    • Partnership with Stanford University
    • Center for Entrepreneurship
    • Startup Sauna
    • Venture Garage
    • Aalto Entrepreneurship Society
  • Thanks
    www.steveblank.com