2013.10.07.a.practitioner.perspective

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A key challenge in the Canadian innovation ecosystem is developing new models for innovation intermediaries and knowledge transfer. This presentation shares the founder's experience as an innovation …

A key challenge in the Canadian innovation ecosystem is developing new models for innovation intermediaries and knowledge transfer. This presentation shares the founder's experience as an innovation intermediary while operating TheCodeFactory business incubator and shared workspace in Ottawa, Canada, since 2007. As a bootstrapped startup in its own right, TheCodeFactory takes a novel approach to business incubation: the business is funded from the
bottom-up by entrepreneurs and innovators. Through an overview of TheCodeFactory's history and evolution within the burgeoning web and mobile innovation ecosystem in Ottawa, this presentation provides a practioner's perspective of lessons learned in an entrepreneurial
business incubator. This experience also raises key questions for future academic research with practical applications for entrepreneurship support systems. In this way, the purpose of the presentation is to help bridge the gap between theory and practice in the domains of business incubation and knowledge transfer.

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  • 1. A Practitioners Perspective Innovation ecosystems from the bottoms up Ian Graham, MBA Founder and President, TheCodeFactory Inc. 1 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 2. Agenda  The Practitioner  Lessons Learned  Personal  Academic  Professional  TheCodeFactory Inc.  Innovation Intermediary      2 Concept Launch Timeline Evolution Future      School of hard knocks Ecosystem Evolve Ecosystem Dynamics Ecosystem Diversity Theory and Practice  Research Questions Copyright © 2013 by TheCodeFactory. All rights reserved.      Architecting Meritocracy Commercialization Innovation Entrepreneurship 09-Oct-2013
  • 3. The Practioner Personal  My wife Jo and I have been married for 28 years  3 Children in their early 20’s; Gareth, Erin, Lauren  1 Dog miniature schnauzer named Fraser  System Thinker, trend spotter  Personal passion is entrepreneurship, innovation and ecosystems  Driven by learning: Life Long Learner 3 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 4. The Practioner Academic  Academic wannabe … PhD  Apply Practice to Theory  eMBA from the University of Ottawa  Went back to school from 2000 to 2002  Life changing event  Technology diploma from Algonquin College  Electronic Technology 4 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 5. The Practioner Professional  Started in Hardware Test mid-1980’s:  Digital Equipment, Newbridge, Alcatel  Migrated from technical to business;  R&D to project and product management  Liked to understand customers  Left Alcatel in 2004 to work for a small company  Started TheCodeFactory in 2008  Been hard at work ever since 5 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 6. TheCodeFactory Inc. Concept Timeline Results Evolution Future 6 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 7. TheCodeFactory Inc. Concept Coffee Shops 7 Copyright © 2013 by TheCodeFactory. All rights reserved. Demo Camp 09-Oct-2013
  • 8. TheCodeFactory Inc. Overview  TheCodeFactory is:  A replicable sustainable model of business incubation,  An Ethical Business, Entrepreneurial Organization  Our business is:  Principled, Results Oriented  We tap into existing ecosystems  We build communities of shared interest  We facilitate high value job and wealth creation for the local economy 8 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 9. Idea TheCodeFactory Inc. Timeline 6 Years TODAY Bus Strike Move Location Recession 1,000 Events 246 Queen 2007 9 2008 Pain! 2009 2010 2011 Copyright © 2013 by TheCodeFactory. All rights reserved. MediaStyle 2012 100 Gloucester Arkalumen 2013 2014 09-Oct-2013
  • 10. TheCodeFactory Inc. Business Results  Disruptive model of Business Incubation and       knowledge transfer Unique Bottoms UP Innovation Intermediary 2 Graduates 3 Senior Startups (Future Graduates) 28 Students Hired through Students and Startups 50+ Jobs Created Key Contributor to Ottawa Downtown ecosystem  1,000 events held  20 new users groups formed 10 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 11. TheCodeFactory Inc. Evolution Original Today  Coworking Space  Event Space  Workspace  Community Resource 11  Incubator  Private Community Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 12. TheCodeFactory Inc. Future  Grow locally HQed sustainable businesses  Increase the probability of venture success to 75%  Graduate 30 companies per year per facility  Create 250 local Knowledge based jobs per year per facility  Next 2 years     Complete our business model Connecting – merit based resource introductions Learning – teach entrepreneurship Open 2nd and 3rd location  Next 5 years  Have facilities in 10 Canadian cities 12 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 13. Lesson Learned School of hard knocks Ecosystems Evolve Ecosystem Dynamics Ecosystem Diversity Theory and Practice 13 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 14. Lesson Learned School of hard knocks  Entrepreneurial roller coaster  Setbacks  Financial Pressure  Everything takes longer than you think  The devil really is in the details  Major obstacles are those you didn’t plan for 14 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 15. Lessons Learned Ecosystems Evolve Downtown Ottawa Ecosystem Model  Web and Mobile Kanata Hierarchy Model  Telecom and Semi-  2004 – 2008: Emergent  2008 – 2012: Growth   2013 - … Irrational   Gartner Hype Cycle   Peak of Inflated Expectations  Sliding toward the trough of disillusionment 15   Copyright © 2013 by TheCodeFactory. All rights reserved. conductor 1995 – 1998: Growth 1999 – 2001: Irrational 2001 – 2004: Declining 2004 – 2012: Decay 2013 … Re-emerge? 09-Oct-2013
  • 16. Lesson Learned Ecosystem Dynamics Stakeholder Characteristics  Motivators  Herzberg's two factor theorem  Hygene, Motivators  Hofstedes dimensions of Stakeholder Interactions  Linkages  Bonding versus Friction  Tribal tendencies culture       Power Distance, Individualism vs Collectivism, Male or Female, Uncertainty Avoidance, Long term versus short term, Indulgence or restraint  Demographics,  Industry,  CMA Geography  Communities of interest  Formal versus Informal organizations  Optics vs reality 16 Copyright © 2013 by TheCodeFactory. All rights reserved.  Groups of like minded stakeholders within ecosystems  Stakeholder attraction 09-Oct-2013
  • 17. Lessons Learned Ecosystem Diversity  Dimensions of Diversity = Elements Organizational Culture  Public Sector versus Private Sector  Industry Sector  Product Lifecycle  Funding source  Demographics  Urban, Suburban, Rural  Heterogeneous versus Homogeneous  Communities of interest  Maslow's Hierarchy of “organizational” needs  Survival versus self actualization 17 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 18. Lesson Learned Theory and Practice Jan L. A. van de Snepscheut Yogi Berra “In theory, there is no difference between theory and practice. But, in practice, there is.” 18 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 19. Research Topics Architecting Meritocracy Commercialization Innovation Entrepreneurship 19 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 20. Research Topics Architecting Ecosystems Top Down 20 Copyright © 2013 by TheCodeFactory. All rights reserved. Bottoms UP 09-Oct-2013
  • 21. Architecting Ecosystems Innovation Value Chain Top Down Bottoms Up 21 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 22. Research Topics Mertiocracy 22 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 23. Research Questions Commercialization – Actionable! Demand Side Supply Side D Research 23 Research Outputs Knowledge Transfer Activities Economic Activity Copyright © 2013 by TheCodeFactory. All rights reserved. Model of Knowledge Transfer within the Innovation Ecosystem – University of Glasgow Economic Impact 09-Oct-2013
  • 24. Research Questions Innovation and Organizational Culture Hofstedes Dimensions Other Dimensions  Power Distance  Formal and informal  Individualism vs  Good to Great     24 Collectivism, Male or Female, Uncertainty Avoidance, Long term vs short term Indulgence vs restraint  Maslows hierarchy  Herzbergs Two Factor Theorem  Productivity Overlay Copyright © 2013 by TheCodeFactory. All rights reserved.  Inputs, Outputs  Metrics  Standardization 09-Oct-2013
  • 25. Research Questions Entrepreneurship  Entrepreneurial Key Success Characteristics  “Think and Grow Rich”  Napoleon Hill  “The Relationship of Entrepreneurial Traits, Skill, and Motivation to Subsequent Venture Growth”  J. Robert Baum and Edwin A. Locke  University of Maryland  Can entrepreneurship knowledge and motivation be learned and internalized?  What is the maximum success rate achievable for new Venture companies? 25 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013
  • 26. Thank you – Questions? Ian Graham, founder and President TheCodeFactory Inc. ian@thecodefactory.ca 26 Copyright © 2013 by TheCodeFactory. All rights reserved. 09-Oct-2013