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21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
21st century finnish economy 090611
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21st century finnish economy 090611

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  • 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 />

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