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Newsletter #16: Building Global Innovators, more global than ever!

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Building Global Innovators© is growing international
participation, edition to edition and getting the attention of
entrepreneurs from new parts of the globe. Submissions
outside Portugal reached 42%, from 13 Nations including READ MORE

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Newsletter #16: Building Global Innovators, more global than ever!

  1. 1. Awarded by Newsletter #16, 18th June, 2012The VC model is broken Global Entrepreneurs: Thank you for your strongA recent report published by Kauffman reckons participation!the industry needs to shrink in size and that thereturns in recent years have been deceivingly lowwhen compared to the risk downside The industry Building Global Innovators© is growing internationalneeds to innovate urgently. Dave McClure, headof VC portfolio at Kauffman, argues that we can participation, edition to edition and getting the attention ofdo better. And he is right. Read more. entrepreneurs from new parts of the globe. Submissions outside Portugal reached 42%, fromPPL Crowdfunding – People powering start-ups 13 Nations including Belarus, Brazil, Chile, Colombia, Czech Republic, Estonia, Germany, India, Italy, Mexico, PPL – Crowdfunding was Russia, Spain, USArecently accredited by US CAPS for its securityand transparency. It aims to democratize thesupport to small and medium entrepreneurial 132 Submissions involving 500 professionalsprojects lacking incentives to overcome thecurrent barriers to finance.From 1€ support, anyone can be an investor and 50% from incorporated start-ups or spin-outsso have a real impact on a start-up, in exchangefor a gift or reward. Together, we can shape anentire new VC industry! What next: The Jury is reviewing the applications and on the 2nd July will announce and invite the 20 Semifinalists to join e-The Golden Age of Silicon Valley Is Over, andWere Dancing on its Grave teams I crash course based in Lisbon, Portugal – keep posted here! “… this is the beginning of the end of the ____________________________________ valley as we know it. Silicon Valley historically SFINNO database is providing a new way of would invest in tracking down impacts of public innovationscience, and technology, and as you know, actualsilicon. If you were a good VC you could make funding: The Finish case from Tekes.$100 million. Now theres a new pattern createdby two big ideas. Read more. By Raine Hermans Ph.D., Adjunct Professor, Director, Strategic IntelligenceTechStars NYC 2012: 7 startups to watch
  2. 2. Awarded by Due to the global competition and shrinking public budgets it is Startup incubator TechStars NYC hosted important to allocate limited resources to those innovation recently its 3rd Demo activities and innovations which have the highest economic Day to present its latest and societal impacts. But which one to pick? Strategic choices class of graduates. have to be backed up with in-depth knowledge and research- based methodologies. By the same token, it is cruciallyThe 13 companies, which were culled from more important to provide information to decision-makers and tax-than 1,600 applicants, have been working for thepast 3 months and presented to +700 members of payers on how public spending in innovation activity hasthe tech community. Of the 23 startups backed by generated economic results and wider societal impacts. NewTechStars last year (in two classes), 21 raised a methodological approaches with underlying analysis arecollective $55 million. See here the pitches! needed and we give an example here on how the impact analysis has been conducted lately in Finland.So You Think You Can Pitch 2012 The Technical Research Centre of Finland, VTT has made a path-breaking research on the sources, nature andAfter 4 months of hard work and sessions inLisbon and Braga, 15 business ideas and 48 development of Finnish innovations. During the last 15 yearsfinalists were chosen to be part of the So You the so-called SFINNO project has identified nearly 5,000Think You Can Pitch Final, on the 31st May. After innovations and collected data on them. This database makesa 2 minutes elevator pitch to a Jury panel, 6 ideas it possible to make versatile studies of the renewal of thewere selected! Good luck to all! Finnish economy and innovation environment. The study at Marketing, hand represents pioneering work in the area of impact analysis Sales, in Finland. It is even internationally unique since the SFINNO Technology, database is significantly richer in content and wider in scope BusinessIdeas and Criative Industries were the 5 tracks in compared to other ones abroad. (See figure 1.)contest. Roles of Tekes assessedBig Data Can Save Health Care—But at What The SfinPact study and report provides a new perspective onCost to Privacy? the various roles that a funding agency, Tekes has played in innovation-driven renewal in Finland. Their most recent reportMedical research would benefit greatly frommassive, publicly shared sets of patient assesses different roles that Tekes – the Finnish Fundinginformation. Find out how. Agency of Technology - has had in the Finnish innovation system. Tekes is the main government funding agency that supports both the academic research and enterprise R&D activity with an annual volume of 610 million Euro in 2012. The present strategy puts a strong focus on growth entrepreneurship. The results of the report are based on a representative sample, since almost 900 innovators answered the survey. VTT updates the survey every other year by identifying5 Ways Mobile App developers will TransformHealthcare innovations in economic and technical publications. This object-oriented approach is complemented by sending aWith the explosive growth in digital health apps – questionnaire to the innovator. Based on the questionnaire,the market for mobile health apps is expected to different typologies of innovations are defined and linked toquadruple to $400 million by 2016, promise to individual innovations, to actors in the Finnish innovationradically change the way health care is deliveredand accessed. The impact of this shift on the system. An innovation is defined here as a new product,
  3. 3. Awarded byhealthcare system and how consumers use and service or method that produces economic or social benefit.act on health information should not beunderestimated. Read more The original and most visible function has been the role of Tekes as a major provider of R&D and innovation funding.The Online Education Tsunami is about to hit More than 60% of the innovations in the SFINNO databaseus have had funding from Tekes. The role of Tekes funding has been significant in 80% of these innovations according to theIn the past few months some of the world’s mostelite universities have begun offering select online respondents (Figure 2). However, its roles as an activator,courses. Harvard and MIT have recently networker, coordinator, investor, accelerator or foresightercommitted $60 million to EdX, a partnership that have been less visible, thought important as well. Thiswill post some of these elite universities’ courses, assessment provided a strict link Tekes funding, programmefor free online. Similarly, Stanford recently offered activities and recognised Finnish innovations in the marketan online course on artificial intelligence. AsStanford President John Hennessy tells us, “there place.is a tsunami coming.” Links between Tekes funding and innovations in theThis “tsunami” raises some important questions marketplacefor traditional universities that are passive. If youare interested in knowing more about this and Tekes has also had a particularly significant role inparticipate in a web conference, delivered by Prof. internationalization of Finnish companies. Tekes funded 69%Peter Haddawy, register here. of innovations that were new to the global market (Figure 3). Tekes’ program activities have attempted to network of theYA – First Step: a new edition coming up academia and industry. The role as the facilitator of academe- industry networks are pinpointed in creation ofYoung Audax – First Step is looking for bold commercialization of scientific research results. The innovationyoung entrepreneurs (13 up to 18 years old) that is based on scientific breakthrough has been funded bylooking for a challenging bootcamp to generatenew ideas and start learning about putting them Tekes in 94 percent of the cases (Figure 2).into actual practice. Tekes’ role is connected to the long term development. A 1st bootcamp Therefore, innovations that are closer to the market can access at ISCTE-IUL to many other sources of funding, and Tekes is involved in only and a 2nd one as over 1/3 of the innovations that enter in a year the a Summer Camp in lovely marketplace. Tekes takes part in more challenging cases with medieval town longer duration of development. For instance, Tekes hasof Almeida, north Portugal, are the next editions. funded 60% of those innovations having entered theLimited number of places, register now! marketplace after being developed from 3-4 years, and almost 2/3 of innovations required at least 5 years of developmentCatólicas BET is powering Summer of duration. (Table 1.).Startups The SFINNO report assesses Tekes’ role as an activator ofFrom July 16th to August 14th BET – Bring R&D activities and a networker of universities, researchEntrepreneurs Together is scheduling a Summer institutes and businesses in addition to its role as a funder.session to entrepreneurs. Directed to those aiming Tekes has played an important part in the development ofto develop a business model. Team building, entire sectors. These sectors are defined as seven thematicmatching entrepreneurs together and workshops, areas, such as game industry or health-related biomaterials. Itare part of the program sessions. Interested? Goto the website and register. also presents the success stories of several innovations – including Rovio’s Angry Birds, Raisio’s Benecol, St1’s bioethanol and Polar Electro’s wrist computers.
  4. 4. Awarded byCheck our site for new great job offers here Materials on the webSave the Dates – update your calendar now: In conjunction with the publication of the report, Tekes published a website called Innovation Interstate that provides a June - October Rock Health Events visual presentation of the connections between the Finnish 20.06.2012 Marketing Essentials innovation field, social changes and Tekes programmes from for a U.S. Product Launch the 1980s through to today. The website has been created by 25.06.2012 Online Education Tsunami Flo Apps Ltd. 15:30-16:30 (Paris time) 26.06.2012 AppCircus in Lisbon! 26-27.06.2012 Young Innovators To know more: Tekes Review 289/2012: Funder, activator, networker, Unconvention investor & Innovation Interstate 16 – 19.07.2012 e-Teams I, Crash Course 19.07.2012 Software SIG Event: Is There a Business Here? The Organization wishes to thank to Raine Hermans for his contribution to More events around Europe? Here the current Newsletter issue with this emerging research paper.Follow us onNeed more Information? Unsubscribe
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