Enterprise Tuesday - Opportunity Recognition 6th nov 2012


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This presentation is the start of Enterprise Tuesday 2012/13. The excellent kick start on the topic of opportunity recognition using the new big thing from Cambridge

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Enterprise Tuesday - Opportunity Recognition 6th nov 2012

  1. 1. Enterprise Tuesday 2012/13Dr Shai Vyakarnam
  2. 2. FireLaptopsPhonesBadgesNetworking
  3. 3. Thank you to our sponsors and supportersBronze Sponsor DepartmentsOther Supporters
  4. 4. FOR StudentEntrepreneurship societies Departments CfEL Business community Cambridge Enterprise and incubators
  5. 5. Entrepreneurial Learning - JourneyINSPIRATION INTENTION INFORMATION IMPLEMENTATION Enterprise Tuesday Enterprisers ETECH Projects Ignite Postgraduate Diploma in Entrepreneurship
  6. 6. Bragging rights of CfEL Students so far 14,000+ Programmes and events 170 Alumni ventures created 140+Supported alumni of Ignite to raise £85m+
  7. 7. Acquired by Jonathan Custance, James Green Staccato Igor Drokov Green Juha Korhonen Communications Shaun Fitzgerald Patrick Palmer Pete Elena Punskaya Custard Andy Woods Magowan Simon Crosby Merged with Cantab Jonathan Custance Acquired Bryn Parry Gaurav Banga Solarflare Wireless Cronto James Green Breathing Mark Snook Ian Pratt Bromium by Thales Communicatio David Baker Camrivo Buildings Andrew Koehl UK William Tunstall-Pedoen Niel Viljoen Mark Moore David Ruiz-Alonso Amantys Jack Lang x Laura James David Wells Billy Boyle Tony Milbourn Acquired by Fulton True Johann Tönsing Artimi Owlstone Gordon Aspin Innovation Knowledg Cognovo Netronom Nanotech Charles Sturman Andrew Fisher e e Mark Collins Acquired Tim Glaue Ian White Richard Fry by Oracle Martin King Richard Penty Aveva Ronny Jonckheere DisplayLink Derek Fray Pascal Herczog Zinwave Camfridge Acquired Datanomic Inotech by CSR Richard Marsh Derek FrayAMDDerek Fray George ChanJohn Brimacombe Linguamatics nGame Tom Farthing Richard FriendDavid Milward John Brimacombe Metalysis Henning Job Asim Mumtaz Sirringhaus stream Enecsys Lesley Neil Greenham Florin Udrea Andrew Gower Mike Lynch ChisengaJulian Gardner Paul Gower Jagex Eight19 Autonom Acquired by Bill Milne Constant Tedder y Sumitomo Cambridge Featurespace Chemical Bang CMOS CacheLogic John Bates o David Excell Acquired Camvine Ray Anderson Sensors Giles Nelson William Fitzgerald HP by Adam Twiss David Cleevely Blinkx Quentin Stafford-Fraser Mike Lynch Suranga Michael Dales Alertme.co Light Qflo Apama Chandratillake Velocix (A wholly m Blue Alan Windle Pilgrim Beart Optics Martin Pick 1spatial Aurasma owned subsidiary of Alcatel-Lucent) Adrian Critchlow Adrian Cable Enval CRFS 2006 Alistair Massarella Global Howard Chase Acquired by David Cleevely Linked with Vasant Kumar Green Inkjet Progress PB Systems Nick Geddes Software Existing Firms Corporation New Generations 2011 Fig 1
  8. 8. The essence Enterprise TuesdayWhat is entrepreneurship?EVENINGS 8 CHAPTERSPersonal insightsRole modesDeeper understanding - ideas to marketMeet like minded people
  9. 9. ResourcesCertificate of attendance:ONLY for University of Cambridge students who attend aminimum of 6 sessionsBackground readings and LinkedIn discussion groupsVideos and podcasts available via the University’sStreaming Media Service (SMS) and CfEL web sitewww.cfel.jbs.cam.ac.uk
  10. 10. Enterprise Tuesday Timetable 2011Nov 6 Recognising Professor Sir Richard Friend Opportunities Dr Simon Bransfield-Garth Dr Seena RejalNov 8 Mindsets and Dr Darrin Disley MotivationNov 15 Spotting Market Dr Tony Raven; Shirley Jamieson and Opportunities Dr Andrea Cantone Pneumacare; Polymer Opal and NanoporesNov 22 Serendipity or Rahul Vohra Hard Work Dr Shamus Husheer
  11. 11. Roll CallProf Sir Richard Friend • Lord Karan BilimoriaDr Simon Bransfield- Garth • Chris BarnardoDr Seena Rejal • Richard BlakesleyDr Darrin Disley • Prof Sir Greg Winter • Rolf GuentherDr Tony Raven • Sherry CoutuShirley Jamieson • Jack LangDr Andrea Cantone • Robert BradyRahul Vohra • Peter CowleyDr Shamus Husheer • Monish Suri
  12. 12. Opportunity RecognitionDr Shai Vyakarnam
  13. 13. What is opportunity recognition? Kirzner Schumpeter
  14. 14. We know about the successes… Easyjet Beatles Taj Mahal and the other Wonders of the Worl Penicillin ChocolateReligious ideas! Coffee Fashion Mobile phones Bond Movies
  15. 15. Ones that got away!
  16. 16. In reality what we see..Opportunity co-creation (Effie’s work) Management teams, supplyFuzzy front end chains, government agencies, investors, Researc hers come together• Shape and co-create the opportunity –• Business models – value chains• Technology from lab to product• Create products and services – people will pay for• Make bets
  17. 17. What boxes should it tick?Emotional• Excite the founder to commit• BeliefIntellectual • Understand it – deeplyRational• Early evidence of markets and customer need• Affordable loss (risk)
  18. 18. Three perspectives of opportunity
  19. 19. Recognising OpportunitiesProf Sir Richard Friend FRSCavendish Professor at the University of CambridgeDr Simon Bransfield GarthCEO, Azuri and Eigh19Dr Seena RejalChairman, Cambridge Policy Associates
  20. 20. Plastic Electronics:the technology landscape Richard Friend Cavendish Laboratory University of Cambridge
  21. 21. H HPPV: the Delocalised - H H Hprototypical electrons provide H H Hfluorescent H both conduction and valence bandssemiconducting H H H H H Hpolymer: H H H Solutions of a range of semiconducting polymers:
  22. 22. Polymer Light-Emitting Diodes poly(p-phenylenevinylene) aluminium, magnesium or calcium indium/tin oxide n External Circuit glass substrate Jeremy Burroughes, Donal Bradley et al. Nature, 347, 539 (1990), US patent 5,247,1901992 - foundation of Cambridge Display Technology, CDT
  23. 23. Organic LED technology:Engineering: chemical synthesis[CDT partnership with/acquisition by Sumitomo ChemicalCompany] ‘semiconductor’ purity levels achieved, detailed chemical modifications made to improve efficiency and lifetime. LED lifetimes: 1990 - few minutes 1996 - 1000 hours 2010 > 100,000 hours (projected)
  24. 24. OLED technology: printing [CDT partnership in 1996 with Seiko-Epson Base Technology Research Center Tatsuya Shimoda, Takeo Kawase et al]How to pattern the red, green and blue pixels? direct printing Inkjet Deposition Process: • Polymer deposition by ink-jet printing Printed Polymer in Bank Holes
  25. 25. Organic electronics – Status Existing markets Emerging applications Next generation applications Phones (45M units in Advanced prototypes Demonstrators, but technology challenges 2010) MP3, camera Lighting, wall-side TVOLED Source: Sumitomo-CDT All-polymer Paper-like & next gen. flexible displays;OTFT - displays RFID circuits sensors Source: PolyIC Source: Plastic Logic Mobile Power;OPV Solar Cells building Integrated PV
  26. 26. Organic Solar Cells?π-conjugated molecules used in nature forphotosynthesis, but:• green plants construct a very complex multiple „heterojunction‟ structure to separate electron and holeCurrent research and development:• „crude‟ single heterojunction devices work much better than they should….
  27. 27. Green plant photosynthesis: photosystem II makes O2 and photosystem I hydroquinones makes NADPH
  28. 28. Organic solar cells: simple recipe!mix two semiconductors together so that there is a lot ofinterface between the “electron donor” and the “electronacceptor” materials Poly(3-hexyl thiophene) – hole acceptor Fullerene – electron acceptor Solar energy conversion efficiencies now up to 10% with red-shifted polymers (2012)
  29. 29. Eight19 Ltd (2010): roll-to-roll solar cells: Completed modules Substrate ITO PEDOT Active layer Cathode Encapsulation Manufacture of organic PV modules made on a flexible substrate using roll-to-roll methods
  30. 30. Progress with organic solar cells:
  31. 31. Eight19: printed polymer solar cellsTechnology Push:• potential for lowest cost (materials and manufacture)• potential to reduce full systems costs (low weight, robust, unbreakable) Falls short of a „market pull‟……………
  32. 32. Dr Seena Rejal Chairman, Cambridge Policy AssociatesFormer Business Development & Financing, Eight19
  33. 33. Overview• What drives me• How it all started (… in Cambridge)• Before Eight19• The ride with Eight19• Next…
  34. 34. Personal Drivers Tech ‘Good’ Team Impact Opportunity EntrepreAffiliation neurial Clever Disruptive & Scale Unique
  35. 35. Cambridge Roots• Entrepreneurship & Sustainability – key themes!• Institute for Manufacturing• CU Entrepreneurs• Spin Offs / Startups
  36. 36. Clinton Climate Initiative• Leveraging markets to “Move the Needle”• High-impact, near-term, scalable solutions• Overcoming market failures• Intersection of policy, business, finance & tech• Entrepreneurial business-oriented team• Significant resources• Cross-tech (across CCS & Solar)
  37. 37. Disruptive Startups - GT• Negative Emissions Tech / CO2 Air Capture• High calibre team – Kyoto Protocol authors – Princeton & Bell Labs physics• Billionaire backers• Using power of markets• VEC Finalists• Business Development & Strategy
  38. 38. Eight19 Passed the Test! OPV Sir RF ‘Good’ et al. Impact Cambridge Startup BoP / PAYG ‘Ungrid’
  39. 39. Impact of PAYG Solar Health Savings Profit & for BoP Returns Win-Win Outcomes Virtuous Cycles UK PAYG Cleantech Market of prosperityCompet Solar Devpt Peace and Stability Social & Productivity $$ Gender & Education Equity Carbon Mitigation
  40. 40. Brief & Fit Clean• Fledgling concept Energy• Execution play NGOs Finance• Build brand internationally• Educate market on PAYG solar• Find partners and customers• Raise finance needed to scaleChallenge was exciting; change it could affect, real.
  41. 41. Finance• Project Finance vs. Equity• Different investor types – tailoring needed! – Impact investors, philanthropists, other patient cap – VCs and other angels• Innovative project finance mechanisms – Revolving funds (‘Kickstart’) – EIS Mechanisms in the UK – CSR funds• Lobbying of WB / IFC – challenge of ‘bankability’
  42. 42. Network Effect & Tipping Points Association Thought Leadership Guerilla Brand & Educate Social Marketing Prizes
  43. 43. Next…• Tackling the ‘bankability’ market failure• Cross-industry team• Mobilising the masses• You can be involved directly• Stay tuned…
  44. 44. Thank you @seenarejalseena@cantab.net
  45. 45. Indigo Case HistoryEnterprise Tuesday November 2012
  46. 46. Solar panels Azuri Technologies Ltd - CONFIDENTIAL
  47. 47. Organic solar is a bit different• Robust, lightweight plastic films• Based on abundant elements• Fraction of the embedded energy• Fraction of the CAPEX• …. What‟s not to like? Azuri Technologies Ltd - CONFIDENTIAL
  48. 48. Challenges• Organic technology is still a research project• It has a product lifetime of 5 years or less• The existing solar market is commoditised and barely profitable• Investors have been burned in recent years• You need scale to compete• …But you can‟t get scale until you are competitive• So what do you do? Azuri Technologies Ltd - CONFIDENTIAL
  49. 49. Finding a viable marketNew New Product, New Building integrated solarProduct, Existing MarketMarket Consumer devices Emerging marketsExisting Product, Existing Product,Existing Market New Market Azuri Technologies Ltd - CONFIDENTIAL
  50. 50. Small companies only survive if they move fast Off-Grid On-Grid Early Applications2010 2015 2020 Azuri Technologies Ltd - CONFIDENTIAL
  51. 51. Huge Off-Grid Solar Market Opportunity• 1.3Bn people without electricity• 600M people spend $15-35/yr to charge phones• $38Bn / year spent on kerosene lighting TOTAL MARKET ~ $50Bn/yr Azuri Technologies Ltd - CONFIDENTIAL
  52. 52. Market Needs a New Business ModelPower is a pay-as-you-go Service…. But Solar is all UP FRONT + Maintenance/Repair Azuri Technologies Ltd - CONFIDENTIAL
  53. 53. Disruptive Innovation: Combine Mobile and Solar Eight19 Ltd - CONFIDENTIAL Azuri Technologies Ltd - CONFIDENTIAL
  54. 54. Change the game Currently (Kenya) • 900 KSh/mth for Kerosene ($10) • 20 KSh/charge for mobile Customer cuts weekly energy Total: ~$13/mth spend by 50% or more Indigo AND • 900 KSh install ($10) • 120 KSh/wk ($1.40) has 8 hours of light for 2 rooms + Total: ~$6/mth mobile phone charging too Azuri Technologies Ltd - CONFIDENTIAL
  55. 55. Go beyond the obvious Energised Work 80W 4 lights, phone, rad io, TV, sewing machine Media 40W 4 lights, phone, rad io, TV Home 10W 4 lights, phone, rad io Light 3W 2 lights, phone Disconnected Azuri Technologies Ltd - CONFIDENTIAL
  56. 56. Build a vision (emergent strategy)Energised home • Grid connection ~$400-800 • Bottom-up view of power – Solar and battery cost is almost TV linear i.e. little economy of scale Lights – Losses in distribution – Centralised purchasing Phone / • Un-Grid delivers power now Internet – Appropriate solutions that build with users needs 12V Grid – New generation of low power, low Fridge voltage appliances Sewing machine – Vision of future power usage – Just as mobile replaced the landline Azuri Technologies Ltd - CONFIDENTIAL
  57. 57. Indigo in ActionStudying with Kerosene lamp Studying with Indigo solar Azuri Technologies Ltd - CONFIDENTIAL
  58. 58. Geographical Deployment Key: Indigo Deployment Early Deployment Planned Deployment Negotiations Enquiry Azuri Technologies Ltd - CONFIDENTIAL
  59. 59. Why we do it Azuri Technologies Ltd - CONFIDENTIAL
  60. 60. No simple answer• Joy of creating something new• Exploring the unknown• Potential for wealth• Learning• Recognition• Impact• Solving a puzzle Azuri Technologies Ltd - CONFIDENTIAL
  61. 61. Success helps Strongly Agree Agree Disagree 86% Strongly 92% Disagree Before: 2.3USD/week Now: 0.3USD 6% 5% 0% 3% 3% 5%• 100% strongly agreed Now I Now IIndigo, my household and I are saving time lighting and phone charg with have have Indigo, my household’s expenditure on the statement “Now I have Indigo, I am using less kerosene” Azuri Technologies Ltd - CONFIDENTIAL
  62. 62. Particularly when it is demonstratively beneficialOn average each student is studying an extra2.5 hours per day "I do better at school now because I can complete my homework every night" Indigo User, Female, Class 8 StudentOn average families are productive for an extra 3.2 hours per day "I can open my shop for an extra 3.5hrs per day, instead of shutting at 6.30pm I stay open until 10pm" Indigo user, male Azuri Technologies Ltd - CONFIDENTIAL
  63. 63. Summary Azuri Technologies Ltd - CONFIDENTIAL
  64. 64. Lessons• We started in one place and finished somewhere quite different• Move fast and focus on the achievable• Face reality: If it doesn‟t work / can‟t work – change!• Be prepared to think outside the box• Capture a vision• Inspire others• Keep innovating Azuri Technologies Ltd - CONFIDENTIAL
  65. 65. “Today I live in the city” - Mr Chabalala, ZambiaAzuri Technologies Ltd - CONFIDENTIAL
  66. 66. Thank You!info@azuri-technologies.com Azuri Technologies Ltd - CONFIDENTIAL
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