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F inland and the helsinki spring 090811

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  • 1. Finland, Public Policy and the Helsinki Spring
    Steve Blank
    www.steveblank.com
    Twitter: sgblank
    Slides: www.slideshare.net/sblank
  • 2. Corporate Lifecycle, Innovation, Startups, Founders, Ecosystem
  • 3. Corporate Lifecycle, Innovation, Startups, Founders, Ecosystem
    Why Should I Care?
  • 4. Why Start New Companies in Finland?
  • 5. Because Old Ones Die
  • 6. Corporate Lifecyclesare Getting Shorter
  • 7. Disruption
    Technology, Globalization, Regulation, Consumer Taste
  • 8. Disruption
    Technology, Globalization, Regulation, Consumer Taste, Competition, etc.
  • 9. Job Growth From Existing Companies will decline
  • 10. Job Growth Will Come From New Companies
  • 11. Job Growth Will Come From New Companies
    Startups
  • 12. Entrepreneurs are Coming to Finland to Start Companies
  • 13. First -What’s A Startup?
    Six Types of Startups
  • 14. Startup
    Lifestyle Startups Work to Live their Passion
    • Serve known customer with known product
    • 15. Get paid for their passion
  • Small Business
    Startup
    Small Business StartupsWork to Feed the Family
    • Serve known customer with known product
    • 16. 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
    • 17. Feed the family
  • Scalable
    Startup
    Large Company
    Scalable StartupBorn to Be Big
    Search
    Goal is to solve for:
    unknown customer and unknown features
  • 18. Execute
    Search
    Scalable
    Startup
    Large Company
    Exit Criteria
    • Business model found
    • 19. Total Available Market > €300m
    • 20. Can grow to €50/year
    Scalable StartupBorn to Be Big
  • 21. Scalable
    Startup
    Large Company
    Scalable StartupBorn to Be Big
    Execute
    Search
    • A scalable startup is designed to grow big
    • 22. Needs “Risk capital”
    • 23. 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
  • 24. Buyable Startup
    Search
    Sell
    Scalable
    Startup
    €3 to e0M Acquisition
    Goal is to solve for:
    Internet and Mobile Apps
    Sell to larger company
  • 25. Large Company Sustaining InnovationInnovate or Evaporate
    Sustaining Innovation
    Transition
    Scalable
    Startup
    Large Company
    • Existing Market / Known customer
    • 26. Known product feature needs
  • Large Company Sustaining InnovationInnovate or Evaporate
    Sustaining Innovation
    Transition
    Scalable
    Startup
    Large Company
    - IP- Talent
    - Product
    - Customers
    - Business
  • 29. Large Company Disruptive Innovation
    New Division
    Large Company
    Transition
    Disruptive Innovation
    • New Market
    • 30. New tech, customers, channels
  • Large Company Disruptive Innovation
    New Division
    Large Company
    Transition
    Disruptive Innovation
    - IP- Talent
    - Product
    - Customers
    - Business
  • 33. Large Non-Profit
    Social Startup
    Social Entrepreneurship Startups
    • Solve pressing social problems
    • 34. Social Enterprise: Profitable
    • 35. Social Innovation: New Strategies
  • Each of these startups require different skills
    They Can Not Be Taught the Same Way
  • 36. Each of these startups require different Government Policies
    They Can Not Be Built the Same Way
  • 37. Scalable Startups Will Provide the Highest Job Growth
  • 38. Scalable Startups Will Provide the Highest Job Growth
    They Require an Ecosystem You Do Not Have
  • 39. Entrepreneurs
    Scalable Startup Ecosystem
    • Take risk
    • 40. No funding
    • 41. Building product
    • 42. Thinking through business model
  • Entrepreneurs
    • skills training
    • 43. mentoring = experience
    • 44. networking
    • 45. shared office
    • 46. small funding ~ €30K
    • 47. limited time ~ 6 months
    Incubators
    Scalable Startup Ecosystem
  • 48. Angel Funds
    Entrepreneurs
    • it’s now a company
    • 49. searching for a business model
    • 50. limited funding ~ €300K
    • 51. mentoring
    Incubators
    Scalable Startup Ecosystem
  • 52. Venture Capital Funds
    Entrepreneurs
    Incubators
    Scalable Startup Ecosystem
    • Large funding > €2000K
    • 53. Found a business Model
    • 54. Scale
    • 55. Multiple rounds of money
    • 56. Startup Experience outside of Finland
    • Current policies in:
    • 57. Capital Gains
    • 58. Investment Incentives
    • 59. Immigration
    • 60. Cultural view of Risk and Failure
    All actively discourage Scalable Startups
    Startup Ecosystem Challenges
  • 61. Startup Ecosystem Challenges
    • Consultants are paid with Tekes money not equity
    • 62. Few are willing to change or criticize
    • 63. Are on the wrong incentive system
    • 64. Missing experienced startup entrepreneurs
    • 65. Tekes, incubators, VC’s, etc.
  • Each of These Steps Must Require Risk
  • 66. Each of These Steps Must Require Risk
    For the Entrepreneur and For the Investor
  • 67. Public Funding of Private Capital Does Not Work
  • 68. Public Funding of Private Capital Does Not Work
    Each Party Needs to Have Equal Risk
  • 69. The Goal of Public Funding Should be to Create a Private Capital Ecosystem
  • 70. The Goal of Public Funding Should be to Create a Private Capital Ecosystem
    Fund and attract experienced Incubators & Venture Capital
  • 71. What Is the One Vision of Sitra, Tekes, Aalto, Finnish Technology Industries?
  • 72. Find It and Put YourselfOut of Business
  • 73. Thank You