1.
STARTUP & THE NEW
ENTREPRENEURS
04.04.2014
INSPIRING ROUTE

2.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Where does this story start?
2

3.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Natbat, sept 13.
This is the story of Natalie & Simon
From idea to exit
3

4.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Dissapore, aug 2012; La Stampa, jul 2013.
The history of Eataly
From microwave to Culatello
4

5.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source:
Testo slide
What do they have in common?
5
They are STARTUPS

6.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
What is a “startup”?
6

7.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Eric Ries
7
Source: Lean Startup, 2010..
A human institution designed
to deliver a new product or
service under conditions of
extreme uncertainty.

8.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS 8
IT’S NOT ABOUT
DIGITALINDUSTRYSIZE

9.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
RISKINNOVATIONPEOPLE
9
IT’S ABOUT

10.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Google Trends, 2013.
Media, blog, social, TV, newspaper, magazine...
A skyrocketing interest
10
“startups”
but is it just a buzzword?

11.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Whitehouse, feb 2009.
11
The future of our economy relies
on the imagination of our
entrepreneurs
Barack Obama

12.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Wikipedia, 2013; Geekwire, sept 2011.
Long story short
Ok, but what's new around here?
12
1998-2000
dot-com Bubble
2004-today
The “new wave”
1973-1998
The golden age
1950-1970
The early days
There’s something new (and more)

13.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Wikipedia, nov 2013; Forbes, nov 2013; Doppiozero, oct 2013.
3 drivers
13
Economic
• Economic Crisis
• Youth unemployment
• Failure of the traditional
business models
• Economic pressure from
emerging markets
Technological
• Exponential growth in
various technologies
• Know-how sharing
• Development of a global
real-time communication
network
Cultural
• Mixture of counterculture
utopias and neo-
capitalism optimism
• Loss of authority of the
institutions
• Craving for meaning and
realization
• Cult of failure
• Emergence of role model

14.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source:
Where everything was born
The reasons why Silicon Valley was (and is) the epicenter
14
Colleges
Research centers
Labs
Ultraliberalism
Hippie culture
Technology as a
religion
Cult of failure
“Do than discuss”
Technology
Venture capital
Lean juridical
system
“Resources”ValuesPlace

15.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source:
15
A global community of people who, relying on their
creativity, skills and commitment, create new
organizations as a tool to disrupt conservative paradigm,
solve global problems and create value for themselves
and the community itself.

16.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
The new paradigm
16
#vision
#disruption
#explorationfrom execution to
from management to
from retention to
#valuefrom profit to

17.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
How does it work?
17

18.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Market Revolution, nov 2013.
An highly connected ecosystem
The startup framework
18

19.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Entrepreneur.com, 2013.
Colleges, research labs, business schools, foundations, public institutions
Where ideas and people come from
Institutions
19

20.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Founders, coders, designers, makers, mentors, angels
Networking is the Word
Community
20

21.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Websites, blogs, magazines, webzines
Not only the specialized ones
Media
21

22.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Where you get to know and be known
Events
22
Fairs, events, competition, hackathons, demo days

23.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Finance, legal, administration
skills and services to run a company
Services & support
23

24.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Coworking, fablabs
Where companies are built and can share ideas, experiences, skills and network
Spaces & places
24

25.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
INVESTMENT & CORPORATE
Let’s focus on
25

26.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS 26
Source:Paul Graham, nov 2005.
Paul Graham
Venture funding works like gears.
A typical startup goes through several
rounds of funding.
A each round you take just enough money
to reach the speed where you can shift into
the next gear.

27.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
two friends, an idea
Let's start a company
27
This
girl
This
guy

28.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Paul Graham, nov 2005.
Let’s follow the story of a (imaginary) startup called:
28
COOLBOX

29.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
The first funding aimed at company set up, prototyping and living expenses
Pre-seed round
29
Goal:
- Fine tuning of the idea
- Build the prototype
!
Timing: 3 months
Pre-seed
Early stage
Seed
A-B-C round
Late stage
COOLBOX

30.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Funders and Founders, may 2013.
Friends & Family
Pre-seed round
30
Pros: easy to find, no interferences.
Cons: mix together business and personal
life, no business network, not accredited as
investors.
≈15k
5% of the equity
20%
Option pool

31.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Grants & Competitions
Pre-seed round
31
Pros: smart money, visibility and PR, few
constraints.
Cons: no business network.

32.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Startupbro, 2013.
Crowdfunding
Pre-seed round
32
Pros: no constraints, awareness and PR.
Cons: hard to get, no business network, high
expectations.

33.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Investopedia, 2013; Paul Graham, nov 2005.
Burn rate - monthly cost of mantainance of the company. Tells you when you are
running out of cash.
Option pool - Shares of stock reserved for employees of a private company. Are
used to attract talents. The amount of stock an employee gets decreases
polynomially with the age of the company.
Key concepts
Pre-seed round
33

34.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Techinasia, dec 2012.
The first boost to build the company
Seed round
34
Goal: concept validation
- Minimum Valuable Product
- Business plan: value proposition, target,
maket size, revenue model, competitors,
competitive advantage
!
Timing: 3-6 months
Pre-seed
Early stage
Seed
A-B-C round
Late stage
COOLBOX

35.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Funders and Founders, may 2013.
Firms that offer small amounts of funding, working spaces, business and technical advisorship,
staff services (PR, lawyers, accountants, etc), networking.
Incubators/accelerators
Seed round
35
Goal: profitable disinvestment of the
shares
People
Main focus
Big batch
Model
15-100K
Funding
5-30%
Equity

36.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Forbes, apr 2012, Startup Weekend, 2013.
Incubators/accelerators
Seed round
36
Cons: Small funding, strong competition for
“brands”, lower commitment.
Pros: low control over the startup, easy to
reach, standardized investment process,
personal relationship, access to VC network.

37.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Bernardi, nov 2013.
Organizations which internally generate ideas for new startups and hire people to
develop them.
Startup foundries
Seed round
37

38.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Investopedia, 2013; Business Model Generation, 2013; Grasshopperherder, 2013; Lean Startup, 2010; Investment law group, 2013.
Equity - stocks or any other security representing an ownership interest. For a
startup is one of its main assets.
Business model - how an organization creates, delivers and captures value
(economic, social, cultural, or other forms).
Pivoting - structured course correction designed to test a new fundamental
hypothesis about the product, strategy and engine of growth.
Track record - the percentage return of invested assets.
Key concepts
Seed round
38

39.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Techinasia, dec 2012.
It’s time to make things seriously
Early stage round
39
Goal: customer validation
- Generate traction
- Generate revenue
- Hiring staff
!
Timing: 12-18 months
Pre-seed
Early stage
Seed
A-B-C round
Late stage
COOLBOX

40.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Paul Graham, nov 2005.
Rich people who invest in new companies.
Goal: invest in startups with high-speed growth
Angel investors
Early stage round
40
market
captivity
Main focus
15-20%
Equity
up to 200k
Funding
Cons: potential issues for subsequent
rounds, push to exit, less reputation to
protect, involved in the management.
Pros: SME, networking, mentoring, less
investment constraints.

41.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Paul Graham, nov 2005; Investopedia, 2013.
Accredited investors - people with over a million dollars in liquid assets or an
income of over $200,000 a year.
Evaluation - “in early stage investing, valuations are voodoo”
Exit strategy - is the way of "cashing out" an investment.
Key concepts
Early stage round
41

42.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Techinasia, dec 2012; Wikipedia, 2013.
Grow. And keep growing.
Series A-B-C round
42
Goal: from revenue to profit
- Scaling business
- International expansion
- Hiring executive
!
Timing: 1-2 year
Pre-seed
Early stage
Seed
A-B-C round
Late stage
COOLBOX

43.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Paul Graham, nov 2005.
Investment firms that manage, either private or general funds, in equity stakes of
high-risk/high-return ventures.
Goal: cash-out with a strong multiplier (2-3x)
Venture capital
Series A-B-C round
43
Exit
Focus
Mgmt fee
Model
> 1 million
Funding
10-40%
Equity

44.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Paul Graham, nov 2005.
Venture capital
Series A-B-C round
44
Cons: control on the management, strict
regulation on investment.
Pros: capital, experience, network.

45.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Paul Graham, nov 2005; Investopedia, 2013; Investopedia, 2013.
Term sheet - summary of what the deal terms will be when and if they do a deal.
Due diligence - the background check of the business, technological, financial and
legal aspects of the company.
Diluition - reduction in the ownership percentage of a share of stock caused by the
issuance of new stock.
Key concepts
Series A-B-C round
45

46.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Wikipedia, nov 2013, Crunchbase, nov 2013; Business Insider, nov 2013.
Get bought or go public
Later stage round
46
Goal: cash-out
- Solid growth
- Acquisition
- Financial stabilization
!
!
Timing: 3-4 years
Pre-seed
Early stage
Seed
A-B-C round
Late stage COOLBOX

47.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Startup Italia, nov 2013.
Acquisition
Later stage
47
EOS is an italian
biopharmaceutic
startup, founded
in 2006 with
private capital
and investment
of Sofinnova
Partners and
Principia.
In 2010 created
their flagship
innovative
product:
Lucitanib.
The 2012 it’s
licensed for using
in US, Japan and
China markets.
Few days ago
was acquired by
Clovis, U.S.
biopharmaceutic
al company, for $
400 million in
cash + shares.
It’s (perhaps) the
biggest exit of
the history of
Italian startup.

48.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Wikipedia, nov 2013, Crunchbase, nov 2013; Business Insider, nov 2013.
IPO
Later stage
48
After 7 years and
$1.16B of
funding, on
November 6,
2013, Twitter was
listed on the New
York Stock
Exchange
(NYSE).
70 million shares
were priced at US
$26.
Twitter raised
$1.82B.
In the first day of
trading, shares
closed at US
$44.90 for $31b
evaluation.
In one day
Twitter created
1,600 new
millionaries.

49.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Forbes, apr 2013; Crunchbase, nov 2013.
Testo slide
Large private company
Later stage
49
GoPro was
founded in 2004
by Nick
Woodman to
capture and
share our lives’
most exciting
moments in high
definition.
Over the years
received funding
from several
investors. The
latest was in 2012
from Foxconn of
$200 million.
Today, GoPro
evaluation is
$2.25 billion.
The estimated
revenues in 2013
are more $900+
million.

50.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Who’s financing who
50
Pre-seed Early stageSeed A-B-C round Late stage
Self-financing
Grant
Crowdfunding
Incubator
Accelerator
VCs
Angel Investors
Companies
Some examples

51.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
(Some) figures and data
51

52.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
The global start-up ecosystem
52
http://multisite-blog.digital.telefonica.com.s3.amazonaws.com/wp-content/uploads/
2013/01/Startup-Eco_14012013.pdf
The startup output index represents the total activity of
entrepreneurship in the region, controlling for
population size and the maturity of startups in the region
Silicon Valley
Tel Aviv
Los Angeles
New York
Boston
London
Toronto
Vancouver
Sydney
Sao Paulo
Moscow
Paris
Berlin
Singapore
Melbourne
Bangalore
Santiago
Waterloo
total activity of
entrepreneurship
controlling for population
size and the maturity of
startups
Source: Start-up Ecosystem Report 2012 , Telefonica

53.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
VC investment in the US
53
Source: PricewaterhouseCoopers and the National Venture Capital Association (NVCA),2012
Total VC investment in 2012: $8.6 billion
Seed
725
million dollars
274
companies
Early stage
7800
million dollars
1638
companies

54.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
VC investment in the EU
54
Source: PricewaterhouseCoopers and the National Venture Capital Association (NVCA),2012
Total VC investment in 2012: $1.9 billion
Seed
138
million dollars
353
companies
Early stage
1792
million dollars
1796
companies

55.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source:
Million euros in 2012
VC investment in the EU
55
477
355
274
56
28
in 2013

56.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: OECD, 2013; Che Future, oct 2013.
Far from the average yet (0.02%)
% of GDP in venture capital
56
ISRAEL USA
%0.5 %0.2
ITA
%0.004

57.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
How many startups?
57
23
Number startup per 1.000 working age people
1112
16
Source:World Bank, 2012

58.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
U.S.-based companies initially funded by venture capital between 2006 and 2011
How many survive?
58
Source: The Venture Capital Secret: 3 Out of 4 Start-Ups Fail, 2012.
6.613 startup founded
5.555 operating independently
727 were acquired or made
initial public offerings
66 currently in IPO
registration

59.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Fear of Failure Rate
Percentage of 18-64 population with positive perceived
opportunities who indicate that fear of failure would prevent
them from setting up a business
What can stop them?
59
Source: Global Entrepreneurship Research Association (GERA)

60.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
And what about Italy?
60

61.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Gazzetta Ufficiale, june 13.
I requisiti
‣ la maggioranza del capitale sociale e dei diritti di voto nell’assemblea ordinaria deve essere detenuto
da persone fisiche al momento della costituzione e per i successivi 24 mesi; (requisito soppresso dal
d.l. n. 76/2013)
‣ la società deve essere costituita e operare da non più di 48 mesi;
‣ deve avere la sede principale dei propri affari e interessi in Italia;
‣ il totale del valore della produzione annua, a partire dal secondo anno di attività, non deve superare i
5 milioni di euro;
‣ non deve distribuire o aver distribuito utili;
‣ deve avere quale oggetto sociale esclusivo o prevalente, lo sviluppo, la produzione e la
commercializzazione di prodotti o servizi innovativi ad alto valore tecnologico;
‣ non deve essere stata costituita per effetto di una fusione, scissione societaria o a seguito di cessione
di azienda o di ramo di azienda.
La “start-up innovativa” è società di capitali, costituita anche in forma
cooperativa, di diritto italiano oppure Societas Europea, le cui azioni o quote
non sono quotate su un mercato regolamentato o su un sistema multilaterale di
negoziazione.
Il Decreto Startup d.l. n. 76/2013
61

62.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
‣ Deroghe al diritto societario e riduzione degli oneri per l’avvio
‣ Esenzione da imposta di bollo, diritti di segreteria e diritto annuale
‣ Remunerazione con strumenti finanziari della start-up innovativa e
dell’incubatore certificato
‣ Incentivi all’investimento in start-up innovative
‣ Raccolta diffusa di capitali di rischio tramite portali online (crowdfunding)
‣ Sostegno all’internazionalizzazione
‣ Gestione della crisi nell’impresa startup innovativa e attività di controllo
I vantaggi
Il Decreto Startup d.l. n. 76/2013
62
Source: Gazzetta Ufficiale, june 13.

63.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: StartupItalia, 2013.
Testo slide
1 startup every 4 minutes
63

64.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Testo slide
Milan, startup capital
64
Source: StartupItalia, 2013.

65.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: StartupItalia, 2013.
Testo slide
4 out of 5 are services
65

66.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
What’s going on in Italy
66
300 k
29 mln
5,3 mln
3,5 mln
1456
Internet Users
Would invest in start-ups
Would invest much
money in start-ups
Know where to invest
Create an innovative
startupStartuppers
Wanna-be Startuppers
Committed
Wanna-be startuppers
Potential Startuppers
Source: Human Highway per Italia Startup, 2012

67.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Who is who, nov 2013.
Sottotitolo slide
Italy by numbers
67
113
Funded
startup
97
Incubators /
accelerators
40
Science
parks
32
Institutional
investors
65
Coworking
spaces
33
Startup
competitions
20
Associations

68.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Who is who, nov 2013.
30 sicialian startups
68

69.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
“from a business point of view”
models, strategy, consequences
69

70.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source:
70
What’s going on?

71.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
What Companies Want
71
THEMSELVES
Get noticed in a highly
competitive industry
INDUSTRY
Find the next big idea
INTERNALLY
Smart talented employees
Increase efficiency and effectiveness

72.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source:
The next big idea
How can startups help?
72
Source: Harvard Business Review, dec 2008; Wikipedia, nov 2013.
Open innovation
It’s not convenient to innovate on its own.
!
Find and access to new ideas and paths to market through
partenership and collaborations.
“The boundaries between a firm and its environment have
become more permeable; innovations can easily transfer inward
and outward.”

73.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Steve Blank
73
Source: Steve Blank, jan 2010..
A temporary organization
formed to search for a
repeatable and scalable
business model.

74.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
3 company-incubator model
74
Corporate
Business
Incubator
PartnershipSponsorship

75.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: GV.com, 2014; TechCrunch, nov 2011; TechCrunch, dec 2013.
In 2013:
75 new investments
9 exit
+$300 million of venture
funding
From “corporate venture investment” to “private VC”
GOOGLE
75
4 year from now:
225 funded companies
$1.2 billion of capital under
management

76.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source:: Fortune, jun 2013; Nike Fuel lab, 2014.
An acceleration program dedicated to running companies which are given tools, resources
and support to create products or solutions integrated with NikeFuel platform.
Supporting the creation of an innovation ecosystem
NIKE
76
• 10 startups
• 12 weeks
• $50.000 grant for each startup
• Business and technology mentorship
with executives and developers from
Nike
• Training
• Full access to NikeFuel platform

77.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Techcrunch, feb 2014; Disney Accelerator, 2014.
An immersive mentorship and seed investment program to develop ideas and build
new products related to Disney existing assets and property
The startup accelerator for innovative services and entertainment experiences
DISNEY
77
• 10 weeks
• $120.000 grant for each startup
• Full access to the stories, characters,
resources and networks of The Walt
Disney Company
• Mentorship by Disney executives,
entertainment industry experts, venture
capitalists, entrepreneurs.
• Coworking space @ Disney HQ

78.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS 78
Source: Privco,2012
The TOP 10 Acquirers of 2012
1
2
3
4
5
6
7
8
9
10
16
16
12
10
10
9
8
7
6
6
Number of acquisitions in 2012

79.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Nymag, 2013
Get noticed in a highly competitive industry
79
PR & Reputation
“A 17-year-old whiz kid who sold his company to Yahoo
for $30 million”
!
like BEST STORY EVER for PR.
How can startups help?

80.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Smart talented employees
80
ACQ-HIRE
Source :Fortune,2013
How can startups help?

81.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source Wikipedia, nov 2013:
Increase efficiency and effectiveness
81
NEW MANAGERIAL METHODS
LEAN STARTUP: a set of methodologies and tools for
developing businesses and products
!
Validated learning, minimum viable product, actionable metrics, pivoting.
How can startups help?

82.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
The dark side of startup revolution
82

83.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
What are the risks?
83
Startup Ecosystem Corporate

84.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Focus on hyped but with little value segments
For startups
Can I be sexy too?
84
Especially for social and consumer internet

85.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
Source: Infoworld, nov 2013; Instagram, jan 2013; Businessweek, nov 2013.
For the ecosystem
Are we in a new bubble?
85
$100m investmet
nov 2012
≈$1b acquisition
apr 2012
≈$3b evaluation
nov 2013

86.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
How can a speculative system foster breakthrough innovation that
create new markets and at the same time destroy others?
for the ecosystem
Don’t you mind if we disrupt?
86

87.
INSPIRING ROUTE - STARTUP & ENTREPRENEURS
for corporate
Well, it is not my job!
87
Discover, communicate, acquire, integrate and collaborate with
startups require a whole new set of skills and processes.

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INSPIRING ROUTE - STARTUP & ENTREPRENEURS 88
Startup revolution is not a passing hype but it's a
growing movement that is
changing the way people and businesses

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info@marketrevolution.itwww.marketrevolution.it
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