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F inland and the helsinki spring 090811
 

F inland and the helsinki spring 090811

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    F inland and the helsinki spring 090811 F inland and the helsinki spring 090811 Presentation Transcript

    • Finland, Public Policy and the Helsinki Spring
      Steve Blank
      www.steveblank.com
      Twitter: sgblank
      Slides: www.slideshare.net/sblank
    • Corporate Lifecycle, Innovation, Startups, Founders, Ecosystem
    • Corporate Lifecycle, Innovation, Startups, Founders, Ecosystem
      Why Should I Care?
    • 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 From Existing Companies will decline
    • Job Growth Will Come From New Companies
    • Job Growth Will Come From New Companies
      Startups
    • Entrepreneurs are Coming to Finland to Start Companies
    • 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
      Scalable StartupBorn to Be Big
      Execute
      Search
      • A scalable startup is designed to grow big
      • 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 Sustaining InnovationInnovate or Evaporate
      Sustaining Innovation
      Transition
      Scalable
      Startup
      Large Company
      • Build
      • Partner
      • Acquire
      - IP- Talent
      - Product
      - Customers
      - Business
    • Large Company Disruptive Innovation
      New Division
      Large Company
      Transition
      Disruptive Innovation
      • New Market
      • New tech, customers, channels
    • Large Company Disruptive Innovation
      New Division
      Large Company
      Transition
      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
    • Each of these startups require different Government Policies
      They Can Not Be Built the Same Way
    • Scalable Startups Will Provide the Highest Job Growth
    • Scalable Startups Will Provide the Highest Job Growth
      They Require an Ecosystem You Do Not Have
    • Entrepreneurs
      Scalable Startup Ecosystem
      • Take risk
      • No funding
      • Building product
      • Thinking through business model
    • Entrepreneurs
      • skills training
      • mentoring = experience
      • networking
      • shared office
      • small funding ~ €30K
      • limited time ~ 6 months
      Incubators
      Scalable Startup Ecosystem
    • Angel Funds
      Entrepreneurs
      • it’s now a company
      • searching for a business model
      • limited funding ~ €300K
      • mentoring
      Incubators
      Scalable Startup Ecosystem
    • Venture Capital Funds
      Entrepreneurs
      Incubators
      Scalable Startup Ecosystem
      • Large funding > €2000K
      • Found a business Model
      • Scale
      • Multiple rounds of money
      • Startup Experience outside of Finland
      • Current policies in:
      • Capital Gains
      • Investment Incentives
      • Immigration
      • Cultural view of Risk and Failure
      All actively discourage Scalable Startups
      Startup Ecosystem Challenges
    • Startup Ecosystem Challenges
      • Consultants are paid with Tekes money not equity
      • Few are willing to change or criticize
      • Are on the wrong incentive system
      • Missing experienced startup entrepreneurs
      • Tekes, incubators, VC’s, etc.
    • Each of These Steps Must Require Risk
    • Each of These Steps Must Require Risk
      For the Entrepreneur and For the Investor
    • Public Funding of Private Capital Does Not Work
    • Public Funding of Private Capital Does Not Work
      Each Party Needs to Have Equal Risk
    • The Goal of Public Funding Should be to Create a Private Capital Ecosystem
    • The Goal of Public Funding Should be to Create a Private Capital Ecosystem
      Fund and attract experienced Incubators & Venture Capital
    • What Is the One Vision of Sitra, Tekes, Aalto, Finnish Technology Industries?
    • Find It and Put YourselfOut of Business
    • Thank You