21st century finnish economy 090611


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21st century finnish economy 090611

  1. Building A 21st Century Economy in Finland<br />Aalto University is Leading the Way<br />
  2. Why Start New Companies in Finland?<br />
  3. Because Old Ones Die<br />
  4. Corporate Lifecyclesare Getting Shorter<br />
  5. Disruption<br />Technology, Globalization, Regulation, Consumer Taste<br />
  6. Disruption<br />Technology, Globalization, Regulation, Consumer Taste, Competition, etc.<br />
  7. Job Growth Will Come From New Companies<br />
  8. Job Growth Will Come From New Companies<br />Startups<br />
  9. Aalto is Leading the Way<br />Center for Entrepreneurship, Startup Sauna, Venture Garage, Entrepreneurship Society <br />
  10. Alto is Leading the Way<br />Center for Entrepreneurship, Startup Sauna, Venture Garage, Aalto Entrepreneurship Society <br />
  11. First -What’s A Startup?<br />Six Types of Startups<br />
  12. Startup<br />Lifestyle Startups Work to Live their Passion<br /><ul><li>Serve known customer with known product
  13. Get paid for their passion</li></li></ul><li>Small Business<br />Startup<br />Small Business StartupsWork to Feed the Family<br /><ul><li>Serve known customer with known product
  14. Feed the family</li></li></ul><li>Small Business<br />Startup<br />Exit Criteria<br /><ul><li> Business Model found</li></ul>- Profitable business<br /><ul><li> Existing team</li></ul>< €100K in revenue<br />Small Business StartupsWork to Feed the Family<br /><ul><li>known customer known product
  15. Feed the family</li></li></ul><li>Scalable<br />Startup<br />Large Company<br />Scalable StartupBorn to Be Big<br />Search<br />Goal is to solve for:<br /> unknown customer and unknown features <br />
  16. Execute<br />Search<br />Scalable<br />Startup<br />Large Company<br />Exit Criteria<br /><ul><li> Business model found
  17. Total Available Market > €300m
  18. Can grow to €50/year</li></ul>Scalable StartupBorn to Be Big<br />
  19. Scalable<br />Startup<br />Large Company<br /><ul><li> Total Available Market > $500m
  20. Company can grow to $100m/year
  21. Business model found
  22. Focused on execution and process
  23. Typically requires “risk capital”</li></ul>Scalable StartupBorn to Be Big<br />Execute<br />Search<br /><ul><li> In contrast a scalable startup is designed to grow big
  24. Typically needs risk capital
  25. What Silicon Valley means when they say “Startup”</li></li></ul><li>Buyable StartupBorn to Be Sold<br />Search<br />Sell<br />Scalable<br />Startup<br />€3 to 30M Acquisition<br />Goal is to solve for:<br /> Internet, Mobile, Gaming Apps<br />
  26. Buyable Startup<br />Search<br />Sell<br />Scalable<br />Startup<br />€3 to e0M Acquisition<br />Goal is to solve for:<br /> Internet and Mobile Apps<br />Sell to larger company<br />
  27. Large Company Sustaining InnovationInnovate or Evaporate<br />Sustaining Innovation<br />Transition<br />Scalable<br />Startup<br />Large Company<br /><ul><li> Existing Market / Known customer
  28. Known product feature needs</li></li></ul><li>Large Company Disruptive Innovation<br />New Division<br />Transition<br />Large Company<br />Disruptive Innovation<br /><ul><li>New Market
  29. New tech, customers, channels</li></li></ul><li>Large Company Disruptive Innovation<br />New Division<br />Transition<br />Large Company<br />Disruptive Innovation<br /><ul><li>Build
  30. Partner
  31. Acquire</li></ul> - IP- Talent<br /> - Product<br /> - Customers<br /> - Business<br />
  32. Large Non-Profit<br />Social Startup<br />Social Entrepreneurship Startups<br /><ul><li>Solve pressing social problems
  33. Social Enterprise: Profitable
  34. Social Innovation: New Strategies</li></li></ul><li>Each of these startups require different skills<br />They Can Not Be Taught the Same Way<br />
  35. Entrepreneurship as a Management Science<br />E-School instead of B-School<br />
  36. Business as a Management Science<br /><ul><li> 1601 East India Company
  37. 300 years of companies without MBA credentials
  38. 1908 Harvard first MBA</li></li></ul><li>Business School Topics<br />Business School<br />Scalable<br />Startup<br />Transition<br />Large Company<br /><ul><li>Execution
  39. Strategy
  40. Accounting
  41. Products
  42. Engineering
  43. Management
  44. Administration</li></li></ul><li>Business School Courses<br />Business School<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Courses<br /><ul><li>Managerial Finance/Accounting
  45. Managing Groups and Teams
  46. Financial Accounting
  47. Operations
  48. Modeling for Optimization
  49. Global Value Chain Strategies</li></li></ul><li>Business School Results?<br /><ul><li>U.S. corporations went from local to national then international
  50. Cadre of experienced managers to match
  51. Experts on finance and growth (Dupont/GM)</li></ul>B-Schools made the 20th Century the American business century<br />
  52. Business School Versus Entrepreneurship School<br />Entrepreneurship School<br />Business School<br />Scalable<br />Startup<br />Transition<br />Large Company<br /><ul><li>Hypothesis testing
  53. Business Model design
  54. Customer Development
  55. Agile Development
  56. Metrics
  57. Venture Finance
  58. Design Thinking
  59. Execution
  60. Accounting
  61. Products
  62. Engineering
  63. Management
  64. Administrative</li></li></ul><li>Business School Versus Entrepreneurship Courses<br />Business School<br />Entrepreneurship School<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Courses<br /><ul><li> Lean Launchpad
  65. Customer/Agile Development
  66. Business Model Design
  67. Entrepreneurial Management
  68. Creativity and Innovation
  69. Entrepreneurial Finance
  70. User-centric design</li></ul>Courses<br /><ul><li> Managerial Finance/Accounting
  71. Managing Groups and Teams
  72. Financial Accounting
  73. Operations
  74. Modeling for Optimization
  75. Global Value Chain Strategies</li></li></ul><li>Aalto Will Educate the 21st Century<br /><ul><li> Partnership with Stanford University
  76. Center for Entrepreneurship
  77. Startup Sauna
  78. Venture Garage
  79. Aalto Entrepreneurship Society </li></li></ul><li>Thanks<br />www.steveblank.com<br />