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Accelerating Entrepreneurship in a University Environment Will Cardwell Aalto University Center for Entrepreneurship www.ace.aalto.fi / email@example.com
Agenda• What is ACE?• Short Case Study of Valimo Wireless• Five Points About Accelerating Growth• Aalto’s Building Blocks – New Venture Formation• Questions
ACE Co-Creates Growth within the Aalto Community ACE Resources Aalto Community
ACE’s Resources 22 Core TeamPeople 5 EIRs, 30+ Coaches ACE Competence CommercializationProcess Process for screening and development Stanford Partnership, StartupPrograms Sauna, Summer of Statrups, Startup Life 3.5 MEUR for AaltoFunding 2.2 MEUR from Tekes
Deal Flow Directed to other supporting organizations Back to community with feedback 215 10Proposal Evaluation Start-ups Concept development Validation 300 250 30 10 Immaterial Property Rights 50 5 10 Licenses Innovation ‘fast track’
The Case of Valimo Wireless WHAT PUT US OVER THE TOP? Finnish NetworkHR Agility Facebook 9 / 11 Roberto CarlosFocused IP Reverse Learning WHAT HELD US BACK? Complex Ecosystem Dripfed Finance Unproductive Partnerships Distressed Customers Small home market Uneducated Public Fragmented Technical Solutions
5 Necessary Ingredients• Positive Energy and Initiative• T-Shaped People• Extreme Work / Internationalism• Transparency, Community and Pay it Forward• Black Swan Thinking
The Aalto Startup Community1. Blaast Oy: Investments byVeturi Partners, Ambient Sound, and Steve Blank, launching mobile cloudapplication in southeast asian operators2. Eniram Ltd: Name fastest growing Greentech company in Deloitte fast 500, Fastest growing company inFinland3. Multi Touch Ltd: Launched worlds largest multiuser, multitouch display, announced 2m euro investment inAugust4. Remedy Entertainment Ltd: Death Rally highly successful on iOS, with 1.8 paid download.5. Senseg Ltd: Named on of Time Magazines 50 most important inventions (a portfolio company of Jussi andMoaffak’s Veturi Partners)6. Rovio: revenues reportedly rising from about 7m in 2010 to 70m in 2011, setting every possible growthand penetration record in mobile gaming, and showing how to branch into new medias and industries7. Nexstim: raised 13m euro in new financing, and a steady stream of newsflow regarding new results ofNavigated Brain Stimulation8. Mendor Ltd: raised 8.1 million euro of VC financing, Red Herring 100 finalist9. Modz: raised a significant financing round, founder Salla Koski wins second prize among European womaninventors.10. Campalyst: Startup Sauna winner who went on to win of Seedcamp NY11. Scoopinion: winner of 250k Sanoma Foundation Innovation Award12. Flowdock: Announced $650k funding round of US investors and seed investors, including Mårten Mickos.13. Zokem: sold to US Nasdaq company Arbitron for 11m dollars (plus earnout)
Aalto’s Building Blocks1. Aalto Ventures Program2. Summer of Startups3. Startup Sauna4. Out to the Community!