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21st century finnish economy 090611

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  • 1. Building A 21st Century Economy in Finland
    Aalto University is Leading the Way
  • 2. Why Start New Companies in Finland?
  • 3. Because Old Ones Die
  • 4. Corporate Lifecyclesare Getting Shorter
  • 5. Disruption
    Technology, Globalization, Regulation, Consumer Taste
  • 6. Disruption
    Technology, Globalization, Regulation, Consumer Taste, Competition, etc.
  • 7. Job Growth Will Come From New Companies
  • 8. Job Growth Will Come From New Companies
    Startups
  • 9. Aalto is Leading the Way
    Center for Entrepreneurship, Startup Sauna, Venture Garage, Entrepreneurship Society
  • 10. Alto is Leading the Way
    Center for Entrepreneurship, Startup Sauna, Venture Garage, Aalto Entrepreneurship Society
  • 11. First -What’s A Startup?
    Six Types of Startups
  • 12. Startup
    Lifestyle Startups Work to Live their Passion
    • Serve known customer with known product
    • 13. Get paid for their passion
  • Small Business
    Startup
    Small Business StartupsWork to Feed the Family
    • Serve known customer with known product
    • 14. 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
    • 15. Feed the family
  • Scalable
    Startup
    Large Company
    Scalable StartupBorn to Be Big
    Search
    Goal is to solve for:
    unknown customer and unknown features
  • 16. Execute
    Search
    Scalable
    Startup
    Large Company
    Exit Criteria
    • Business model found
    • 17. Total Available Market > €300m
    • 18. Can grow to €50/year
    Scalable StartupBorn to Be Big
  • 19. Scalable
    Startup
    Large Company
    • 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”
    Scalable StartupBorn to Be Big
    Execute
    Search
    • In contrast a scalable startup is designed to grow big
    • 24. Typically needs risk capital
    • 25. 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
  • 26. Buyable Startup
    Search
    Sell
    Scalable
    Startup
    €3 to e0M Acquisition
    Goal is to solve for:
    Internet and Mobile Apps
    Sell to larger company
  • 27. Large Company Sustaining InnovationInnovate or Evaporate
    Sustaining Innovation
    Transition
    Scalable
    Startup
    Large Company
    • Existing Market / Known customer
    • 28. Known product feature needs
  • Large Company Disruptive Innovation
    New Division
    Transition
    Large Company
    Disruptive Innovation
    • New Market
    • 29. New tech, customers, channels
  • Large Company Disruptive Innovation
    New Division
    Transition
    Large Company
    Disruptive Innovation
    - IP- Talent
    - Product
    - Customers
    - Business
  • 32. Large Non-Profit
    Social Startup
    Social Entrepreneurship Startups
    • Solve pressing social problems
    • 33. Social Enterprise: Profitable
    • 34. Social Innovation: New Strategies
  • Each of these startups require different skills
    They Can Not Be Taught the Same Way
  • 35. Entrepreneurship as a Management Science
    E-School instead of B-School
  • 36. Business as a Management Science
    • 1601 East India Company
    • 37. 300 years of companies without MBA credentials
    • 38. 1908 Harvard first MBA
  • Business School Topics
    Business School
    Scalable
    Startup
    Transition
    Large Company
  • Business School Courses
    Business School
    Scalable
    Startup
    Transition
    Large Company
    Courses
    • Managerial Finance/Accounting
    • 45. Managing Groups and Teams
    • 46. Financial Accounting
    • 47. Operations
    • 48. Modeling for Optimization
    • 49. Global Value Chain Strategies
  • Business School Results?
    • 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)
    B-Schools made the 20th Century the American business century
  • 52. Business School Versus Entrepreneurship School
    Entrepreneurship School
    Business School
    Scalable
    Startup
    Transition
    Large Company
  • Business School Versus Entrepreneurship Courses
    Business School
    Entrepreneurship School
    Scalable
    Startup
    Transition
    Large Company
    Courses
    • Lean Launchpad
    • 65. Customer/Agile Development
    • 66. Business Model Design
    • 67. Entrepreneurial Management
    • 68. Creativity and Innovation
    • 69. Entrepreneurial Finance
    • 70. User-centric design
    Courses
    • Managerial Finance/Accounting
    • 71. Managing Groups and Teams
    • 72. Financial Accounting
    • 73. Operations
    • 74. Modeling for Optimization
    • 75. Global Value Chain Strategies
  • Aalto Will Educate the 21st Century
    • Partnership with Stanford University
    • 76. Center for Entrepreneurship
    • 77. Startup Sauna
    • 78. Venture Garage
    • 79. Aalto Entrepreneurship Society
  • Thanks
    www.steveblank.com