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Entrepreneurship is in Our DNA

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NWRA/WDC One Region One Vision Conference / Salthill Hotel, Galway / 28th November 2017

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Entrepreneurship is in Our DNA

  1. 1. @JohnBreslin @Tech_Innovate and @Insight_Centre @NUIGalway Entrepreneurship is in our DNA
  2. 2. Did you kNow About the Irishman who coined the term ENTREPRENEUR?
  3. 3. Richard Cantillon ● Kerry-born Cantillon originated the term “entrepreneur” in his 1730 book Essai (published in French in 1755), in which he expounded upon his very complex economic theories ● He first defined entrepreneurs as “non-fixed income earners who pay known costs of production but earn uncertain incomes, due to the speculative nature of pandering to an unknown demand for their product” ● Free audio book of Essai at bit.ly/theaudiobook 3
  4. 4. Descendants of eNtrepreneurs in Agrifood
  5. 5. 5 Every Irish farmer had to be an entrepreneur to survive! ● Ireland has a tradition of stockmanship and crop husbandry going back at least 200 generations ○ Céide Fields in Mayo is a 5,500-year-old Stone Age farming landscape of stone walled fields, preserved beneath the growing blanket bog ● We have a longstanding export-oriented agrifood industry ● Ireland exports €11 billion of agriculture and food exports annually ○ That’s 10% of our total annual exports ○ The sector accounts for 9% of our employees ○ Ireland produces 10% of the world’s powdered milk supply My grandparents on their farm in County Clare
  6. 6. Dealing with uNanticipated Adversity in tech
  7. 7. Digital Equipment Corporation’s hardware plant closure in 1993 Picture of DEC workers in 1974 7
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  10. 10. Developing iNnovation and ReseArch centres of excellence
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  12. 12. Developing iNnovations in Agriculture
  13. 13. Agriculture + technology innovation ● Ireland is ideally placed to leverage the agtech revolution due to its agricultural heritage and burgeoning tech sector ● Various funds/accelerators are targeting agtech startups: ○ WDC Investment Fund ○ The Yield Lab Galway ○ Atlantic Bridge Ventures’ University Bridge Fund ○ Finistere Ventures’ Ireland AgTech Fund ○ Alltech’s Pearse Lyons Accelerator ○ SVG Partners’ Thrive AgTech Accelerator ● Other countries like New Zealand are moving ahead in terms of agricultural innovation 14
  14. 14. ● Agriculture/forestry/fishing employs 10% in the West Region ● Donegal and Galway have the largest sheep stock in Ireland ● Galway has the most goats in Ireland ● Average farm size in the West (26.3 ha) is 20% smaller than the Irish average (32.7 ha) ● For each farmer under 35, there are more than 10 farmers over 55 years of age Data: galwaydashboard.ie / wdc.ie @aginnovate @tech_innovate Western AgInnovation Ecosystem
  15. 15. AgInnovate Programme to accelerate the agricultural innovation ecosystem in Ireland Teaching professionals how to create agricultural innovation-driven enterprises First cohort alumni are now being funded under the Enterprise Ireland Commercialisation Fund Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 16
  16. 16. P R O T O T Y P E 3. Value Creation What Can You Do For Your Customer? 4. Competitive Advantage Why You? 6. Product Unit Economics Can You Make Money at the Product Level? 5. Customer Acquisition How Does Your Customer Acquire Your Product? 7. Sales How Do You Sell Your Product? 8. Overall Economics Does Your Product Make Money at a Company Level? 9. Design and Build How Do You Produce the Product? - Product Design - Product Development 1. Entrepreneurs Why Are You in Business? Mission, Passions, Values, Initial Assets, Initial Idea 2. Initial Ag Market Who Is Your Customer? - Brainstorm (Many Markets) - Narrow (4-10) - PMR and Matrix (1 Beachhead) 10. Scaling How Do You Scale Your Agricultural Innovation- Driven Enterprise? E M P A T H I S E 1. Intrapreneurs New Opportunity / Market / Customer for Your Existing Company T E S T 2b. Gather Raw Data Observation, Interviews, Focus Groups 2a. Define Scope Goals and Objectives, Techniques, Recruitment, Secondary Research, etc. 2c. Interpret Raw Data From Problems to Needs Statements 2d. Organise the Needs Hierarchy 2e. Establish Importance Surveys 2f. Reflect on the Process Continuous Improvement I D E A T E D E F I N E 9a. Planning 9b. Concept Development 9c. System-Level Design 9e. Testing and Refinement 9d. Detail Design 9f. Production Ramp-Up
  17. 17. 18 - Hustlers Hackers Hipsters Know Know Know Business Engineering Design Must Know How to Talk to Humans (User/Customer)
  18. 18. Do Not Accept the status quo
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  25. 25. Develop eNtrepreneurial Attitude + skills
  26. 26. Springboard+ TechInnovate Entrepre- neurship Development Programme for the formerly self-employed/unemployed/homemakers
  27. 27. Can we get more R&D innovations into spinouts/subsidiaries/startups? Levels of R&D (% of GDP) on the y-axis and levels of employment (ages 15-64) on the x-axis in all EU27 NUTS 2 regions Six areas with relatively high unemployment (< 60% employment, ages 15-64) but also relatively high R&D (> 1.5% of GDP) 28
  28. 28. STArtup skills for Researchers and innovaTors in Entrepreneurship Development Border, Midland and Western (IE) Région de Bruxelles-Capitale / Brussels Hoofdstedelijk Gewest (BE) Prov. Liège (BE) Languedoc-Roussillon (FR) Cataluña (ES) Lazio (IT)
  29. 29. Drive a commoN Agenda to address challenGes facinG the West
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  31. 31. 32 Gather the innovation ecosystem stakeholders Original slides by Dr Phil Budden and Professor Fiona Murray, MIT
  32. 32. Define shared metrics to set agenda and create impact via action Original slides by Dr Phil Budden and Professor Fiona Murray, MIT 33
  33. 33. Don’t be Silicon Valley: have own comparative regional advantage Original slides by Dr Phil Budden and Professor Fiona Murray, MIT 34
  34. 34. Increase innovation and entrepreneurship capacity Original slides by Dr Phil Budden and Professor Fiona Murray, MIT 35
  35. 35. REAP = Regional Entrepreneurship Acceleration Programme Original slides by Dr Phil Budden and Professor Fiona Murray, MIT 36
  36. 36. ● Increase impact and innovation capacity/entrepreneurship capacity in the West of Ireland through actions derived from a metric-driven common agenda ● Having a conference call tomorrow afternoon with MIT REAP for West of Ireland innovation ecosystem stakeholders (let me know if relevant to you) Endeavouring to get West of Ireland onto 2018 MIT REAP programme Thank you! Any questions? @JohnBreslin @Tech_Innovate @Insight_Centre @NUIGalway

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