Innovative venture creation process

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Innovative venture creation process

  1. 1. Innovative Venture Creation Process 1
  2. 2. / the 7 steps Idea Preseed Seed Startup Initial growth Expansion Restructuring
  3. 3. • Ideation, research and networking Idea • Gate: Idea Screening • Does it work? IPR, partners, money, development Preseed • Gate: Preliminary Business Plan • Prototype, more money, contact customers, documentation Seed • Gate: Product and evaluation of commercial potential
  4. 4. • Market intro, production, organization, money Startup • Gate: Market launch and organization that works • Expand capacity, money, improve product Growth • Gate: Profitable business Expansion Restructure
  5. 5. Idea Ideation Research Networking Idea Description Stagegate: Idea screening – News – Level of innovation – Market potential – Realisability – Risks 5
  6. 6. Pre-seed Market potential? – Customer • Need/wish/pain • Willingness to pay – Market size Technology – Does it work – IPR • Ways to protect • Offending IPR of others 6
  7. 7. Pre-seed (2) Partners – Potential customers – Suppliers Funding – Estimating requirements Resources – Other resource requirements? Product development Stagegate: Preliminary business plan – Capital needs – Need for other resources – Patent needs and opportunities – Technological challenges – Market challenges – Critical milestones 7
  8. 8. Seed Adding resources – Finance – Knowledge Prototype Contact customers and partners Documentation and presentation Stage gate – Product – Evaluation of commercial potential 8
  9. 9. Startup Market introduction Establishing production Organization – Sales – Production – Board of directors Developing new skills – Sales – Production – Logistics – Purchasing 9
  10. 10. Startup (2) Raising finance Stagegate: Organization & Market launch – Organization that works – Market launch organized • Agreements with sales channels • Potential customers found • Market introduction started 10
  11. 11. Initial Growth Raising finance Enhance production capacity Expand sales activities Hire more employees Improve the product Stagegate: Profitable business – Positive cashflow – Net profits 11
  12. 12. Expansion 12
  13. 13. Restructuring Change in ownership 13

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