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Study undertaken by INNOVATHLON Consulting
100 interviews 3 months in Europe & North America
March 2013

Contact

ENTREPRE...
ENTREPRENEURIAL ecosystem:
the pillars

Maximizing ideas sharing. Transferring
pieces of information, best practices,
idea...
integrated Ecosystem:
the example of chicago

DIGITAL ECOSYSTEMS
AT global scale

IDEA WORTH SPREADING 1

1

1

1

The ent...
STARTING a BUSINESS
AT THE LEAN STARTUP ERA

STARTUPS ACCELERATORS
AND THE HUMAN CAPITAL LEVERAGE

NEW sources
OF FINANCIA...
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Entrepreneurial Ecosystem at the digital age

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Entrepreneurial Ecosystem at the digital age

  1. 1. Study undertaken by INNOVATHLON Consulting 100 interviews 3 months in Europe & North America March 2013 Contact ENTREPRENEURIAL ECOSYSTEMS AT THE DIGITAL AGE Vincent PRETET vincent.pretet@innovathlon.fr +33 6 83 32 96 94 innovathlon 9 Rue André Darbon 33000 Bordeaux, France
  2. 2. ENTREPRENEURIAL ecosystem: the pillars Maximizing ideas sharing. Transferring pieces of information, best practices, ideas within and in between companies. Fostering workforce turnover and building upon creation-destruction-reconfiguration cycles of companies. SPREADING IDEAS HUMAN RESOURCES Entrepreneurs Talented workforce 2 behaviors to foster ECOSYSTEM FEEDERS Investors 1 KEY SUCCESS FACTORS Service Providers Large companies attitude entrepreneurs give first before taking collaboration being partners rather than competitors Associations An entrepreneurial ecosystem should be : Public Organizations Entrepreneur driven Long term committed (20+ years) Inclusive to anyone who wants to contribute 2 types of companies Telecom gathering people StartUp WeekEnds, Digital Festivals, MeetUps, meetings… all events contribute to keep the ecosystem running, to shed a light on what happens. They have a profound impact on the ecosystem since they create opportunities for meeting people. High Growth Companies are easily scalable: they employ a numerous workforce and have a broad geographical reach. They attract venture capital and constitute the shining part of the ecosystem. UNIVERSITIES & LABS Academics & Scientists Students & Graduates Intellectual Property (IP) Local Companies are not scalable but still profitable. They are much more deeply locally rooted and contribute significantly to the success of the former, through their velocity and their expertize. Study by INNOVATHLON Consulting - 2013 Real Estate Transportation ENTREPRENEURIAL ECOSYSTEM AT THE DIGITAL AGE infrastructures
  3. 3. integrated Ecosystem: the example of chicago DIGITAL ECOSYSTEMS AT global scale IDEA WORTH SPREADING 1 1 1 1 The entrepreneurial ecosystem dynamics does 1 1 not depend on the number of1 inhabitants 1 1 1 1 but on the entrepreneurial density. 1 An initiative led by entrepreneurs for entrepreneurs. This place inherits from two symbols: it is named 1871 after the entrepreneurial rebirth of Chicago following the great fire of 1871; it is located in the Merchandise Mart, the heart of Chicago’s trade economy. 1 1 square feet of open space located in the very center of Chicago. 250 StartUps hosted there 9 months after the launch of 1871.com 1 Universities fostering ideas sharing between, entreprenerus, academics and students. 2 StartUps Accelerators : TechStars for high growth companies and SocialEngine for social businesses. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Number of inhabitants 1 Silicon Valley Tel Aviv Los Angeles Seattle New York City Boston London Toronto Vancouver Chicago 1 Paris Sydney Sao Paulo Moscow Berlin Singapore Melbourne Bangalore Digital ecosystems ranked by increasing dynamics Santiago Big coworking space split into two parts: open and private. 1 1 Source: StartUp Ecosystem Report 2012, telefonica. 1 4 1 1 1 1 5 1 1 1 Venture Capital Companies having an office on site. 1 1 1 Study by INNOVATHLON Consulting - 2013 +750 people working with passion on a daily basis. 1 ENTREPRENEURIAL ECOSYSTEM AT THE DIGITAL AGE 50,000
  4. 4. STARTING a BUSINESS AT THE LEAN STARTUP ERA STARTUPS ACCELERATORS AND THE HUMAN CAPITAL LEVERAGE NEW sources OF FINANCIAL capital Starting a business in the web or digital sector requires a much lower amount of seed-investment than in the past. This is the context of Lean StartUp: For more than 7 years companies have been committed to the acceleration of StartUps development. TechStars and Y-Combinator are forefront examples of such companies built by entrepreneurs for entrepreneurs: Financial capital is a scarce resource. Having access to it is difficult, everywhere, even in the Silicon Valley where there is a fierce competition between StartUps. Identify a “burning need” Build in short runs with existing and accessible technologies Launch a Minimum Viable Product (MVP) Measure the impact on Users Analyze impacts’ data MVP Refine by iterations ATTRACTING INVESTORS DURING BEAUTY CONTESTS SwitchPitch® Large companies explain the (non core business) need they would like StartUps to fix. They then enter into long-term commercial relationships. $$$ cing Eq u it y I nv INVESTING BIG MONEY DemoDay and Pitch The force behind Accelerators: human capital injection leverages the financial investment. 500 investors gathered for the DemoDay es t en measure n na Fi tm DATA Fund raising for local companies INJECTING HUMAN CAPITAL Accelerators’ Managers Network of Mentors - refine New sources for raising financial capital: Crowdfunding platforms for small equity investments; Prefinancing platforms such as KickStarter where customers pay before having their service or product been produced. Customers Venture Capital Crowdfunding Business Angels Pitch StartUps explain their unique solution to a «burning need», burning enough to create value, and seek for investors to scale it more broadly. Fund raising for high growth companies Study by INNOVATHLON Consulting - 2013 INVESTING SMALL MONEY 1 competition every 6 months 1 to 5% of teams selected $25k to $50k invested for 5 to 15% equity ENTREPRENEURIAL ECOSYSTEM AT THE DIGITAL AGE build Prod uct Pr e IDEA

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