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Dietmar Harhoff - UniMunich LMU - GSVA - Stanford Engineering - Feb 6 2012 - Version 20120211


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Dietmar Harhoff - UniMunich LMU - GSVA - Stanford Engineering - Feb 6 2012 - Version 20120211

  1. 1. Innovation and E tI ti d Entrepreneurship i hi in GermanyGerman Technology and Life Sciences Startup Bridges with Silicon ValleyEEITL SeminarStanford University Dietmar HarhoffDietmar HarhoffUniversity of MunichFebruary 6th 2012F b 6th, 2012 1
  2. 2. Agenda• The LMU Entrepreneurship Center• Research and I R h d Innovation in Germany  ti i G• Entrepreneurship and VC in Germany• German Silicon Valley Accelerator – A New Bridge ‐ History, Concept and Outlook 2
  3. 3. THE LMU EC OF TODAY IS THE RESULT OF JOINED EFFORTS 2000 2007 2008 2011 Timeline Initial donation of Winner of major establishment of Development of 500,000€ from R lf 500 000€ f Rolf governmentt grant - tt t formal structure f l t t the major Dienst, Founder of 400,000€ per year and creation of entrepreneurship Wellington Partners to for 3 years LMU EC Lab community in the Prof. Dietmar Harhoff 2007-2010 region of Munich Students 100 600 700 1000 per yearNumber ofincubated 0 0 16 49 start-upsNumber of industry 1 1 2 18 partnersPage 3 July 2011
  4. 4. WHAT WE PROMISED AND WHAT WE ACHIEVED: THE LMU EC AS ACATALYZER FOR ENTREPRENEURSHIP Mission Milestones achieved in 3 years Expansion of course offering from We educate tomorrow‘s Teaching 1 faculty in 2007 to all 18 faculties entrepreneurial leaders of the LMU in 2010 49 start-ups and over 120 new jobs We support the creation Lab in 43 months and over 4 million € in of successful ventures financing raised for founders & start-ups Over 7‘000 members We promote a culture of Community in our online community portal entrepreneurship We make outstanding contributions 5 research projects in the fields of Research entrepreneurship and intrapreneurship in entrepreneurship researchPage 4 July 2011
  5. 5. LMU Entrepreneurship Center COMMUNITY Dr. Thomas Erich Lejeune, Walter Gunz, Strüngmann, Strüngmann Selfmade entrepreneur Founder of Media Founder of Hexal Markt Mark Zuckerberg, Founder of Facebook Oliver Samwer, Arndt Kwiatkowski, Heinz Herrmann Internet entrepreneur Internet pioneer Thiele, Knorr-Bremse Thiele Knorr BremsePage 5 July 2011
  6. 6. LMU Entrepreneurship Center LAB: SUCCESSFUL EARLY-STAGEINCUBATOR FOR 49 START-UPSOur Support Services: Currently 49 Teams (Selected Examples): Key Success Indicators: Material * • Over 120 jobs created Support * • Over 4 M€ of Angel & VC financing * * for the start-ups Coaching and • Over 1.7 M€ in government Mentoring funding for founders of 28 teams • Survival rate of over 85% 6 * * months after I h f Incubator exit b i Financing Search * Support • Various Awards for LMU EC Start- ups, ie. Munich Business Plan * Competition, Start-up of the p p Month, Financial Times, Tesla Award, German Multimedia Award Training & Seminars etc.* 35% of all exiting teams have recieved Angel or VC financingPage 6 July 2011
  7. 7. LMU Entrepreneurship Center: Structure and Governance Ludwig-Maximilians-University München Foundation for Entrepreneurship at the LMU München Innovation Chair A model for future Tech Transfer Center & Cooperation 100% cooperations between Spin Off Services agreement* subsidiary universities and businesses Te LMU Entrepreneurship Center LMU (Cross-faculty i tit ti (C f lt institution Entrepreneurship within the LMU) GmbH * Cooperation agreement between three parties: LMU München, Foundation and GmbHPage 7 July 2011
  8. 8. Research and Innovation in GermanyResearch and Innovation in Germany Most of Most of the slides used in the in the following slides orginate from annual reports of the Expert  Commission Research and Innovation. The next report „Gutachten 2012“  will be handed to Chancelor Merkel on February 29th, 2012. English language pdf versions available at www.e‐ 8
  9. 9. Research and Innovation in GermanyResearch and Innovation in Germany• R&D* performed by three major groups – enterprises (46.9 billion € – 67%) – universities (12.6 billion € ‐ 18%) – public research organizations (10.2 billion € ‐ 15%)• overall R&D intensity now at 2.82% of GDP  ( (since 2009 en par with USA) p )• R&D as well as exports strongly focused on  automotive, chemicals automotive, chemicals and machinery• much smaller role of ICT, pharma and life science 9*Note:  data for 2010
  10. 10. Research and Innovation in GermanyResearch and Innovation in GermanyR&D Expenditures as a Share of GDP in Selected Countries 10
  11. 11. Research and Innovation in GermanyResearch and Innovation in Germany• G Germany is not among the l di R&D i h leading R&D performers f (top group comprised of Sweden, Finland, Korea,  Japan)  Japan)• structural reasons: industries with high R&D intensity not strongly not strongly represented in Germany in Germany• export success almost exclusively driven by established industries• result: political economy not always in favor of VC  and entrepreneurship (with some notable changes recently) 11
  12. 12. Entrepreneurship and VC in Germany VC in Germany• G Germany has b h been l i other countries in extent of lagging h i i f entrepreneurship, startup rates and VC investments.• Si Since mid‐1990s various public support schemes t id 1990 i bli t h to stimulate entrepreneurship – public support for VC funds VC funds – early‐stage support for foundes (EXIST founder stipends) – build up build‐up of entrepreneurship centers at universities – a.k.o. Bayh‐Dole for Germany (in 2002)• moderate success with some clusters being particularly moderate success successful• no breakthrough yet for VC tax treatment and VC tax treatment regulation 12
  13. 13. Entrepreneurship and VC in Europe VC in EuropeVC Investment by Country of Portfolio Company as a Share of GDP in Selected Countries 13
  14. 14. Entrepreneurship and VC in Germany VC in Germany• Why are there no hi h h h high‐growth startups i h in  Germany (Europe)? Why no SAP‐repeat?• Main reasons? – lack of research results and ideas lack of – lack of capable entrepreneurs – cultural aspects – lack of appropriate regulation and incentives – structural reasons: European market t t l E k t fragmentation… and some bright spots despite the complaints 14
  15. 15. Early Stage Venture Capital Investments  2008‐ 2011 by Bundesland 2011 by Bundesland 140 Baden‐Württemberg Bayern 120 Berlin Brandenburg 100 Bremen Hamburg ent(M€) Hessen 80 Mecklenburg‐VorpommernInvestme Niedersachsen 60 Nordrhein‐Westfalen Rheinland‐Pfalz 40 Saarland Sachsen 20 Sachsen‐Anhalt Schleswig‐Holstein 0 2008 2009 2010 2011** Source: BVK/PEREP Analytics. ** 2011 data estimated based on Q1‐Q3 data. 15
  16. 16. German Silicon German SiliconValley Accelerator yA New BridgeHistory, ConceptHistory, Concept and Outlook 16
  17. 17. GSVA historyGSVA history• by no means a new concept y p• inspired by Austrian, Canadian, Scandinavian, … examples• very helpful report on bridging organizations by Eilif y p p g g g y Trondsen• model validated with in‐depth research of several startup  cases, including Aloqa (an LMU startup)• concepts refined and financing secured in 2010 and first  half of 2011 17
  18. 18. GSVA programGSVA program• 3 months participation in GSVA program for selected  p p p g startups • 3 months extension possible• program over 3 years, EUR 2.5m• 42 companies, 19 extended stays• hosted in Plug & Play Tech Center, Sunnyvale• main sponsor BMWi (90%), external sponsors 10% p ( ), p 18
  19. 19. Who can apply?Who can apply?• incorporated in Germany p y• typically not older than 3‐5 years• ITC space (HW, SW, internet, mobile, wireless, medical  p ( , , , , , devices)• business plan demonstrates growth potential and  international expansion plans 19
  20. 20. GSVA objectivesGSVA objectives• understand Silicon Valley and US „Business  y „ Environments“ • develop and understand a US go‐to market strategy• gain market feedback from US beta‐customers• benchmarking of business plan• introduction to fundraising process (business angels/VC  investors)• successful networking / pitching• benchmarking of management team 20
  21. 21. GSVA is successful when …GSVA is successful when• … startups successfully enter the US market p y• … startups establish a presence/operations in Silicon Valley• … startups will be more successful in its German/European  p / p markets upon return• … overall learning (networking, go‐to market strategy  definition, team mapping etc.)• … GSVA becomes a permanent two‐way bridge for contacts  between founders, mentors, venture capitalists, business  angels l 21
  22. 22. GSVA servicesGSVA services• office space  p startups are provided with a dedicated semi‐open office  space for 1‐2 persons including conference room access  and high speed internet.• kick‐start workshop startups participate in a 3 day training camp to provide an  t t ti i t i 3 d t i i t id initial overview • networking events networking events startups have access to network and community events • visa support visa support startups are supported in obtaining appropriate US visa 22
  23. 23. GSVA mentoringGSVA mentoring• mentoring fine‐tuned to each startup’s needs g p• core group of mentors plus specialized mentors• Startup to be accompanied by one lead mentor p p y• particularly important themes • US go‐to‐market strategy • marketing, sales and business development • communication & presentation skills • financing strategy • team building and completion 23
  24. 24. GSVA teamGSVA teamChairman:  Dietmar HarhoffCEO:  Dirk KanngiesserVP BusDev:  Oliver HanischmentorsAdvisory Committee Silicon ValleySteering Committee GermanySteering Committee Germany 24
  25. 25. Important GSVA datesImportant GSVA dates• 2012/2/1 – first startups have arrived at GSVA / / p• 2012/2/2 – launch event GSVA Silicon Valley• 2012/3/28  selection of Q3/Q4 2012 participants 2012/3/28 – selection of Q3/Q4 2012 participants• 2012/3/28 – launch event GSVA Berlin at TU Berlin 25
  26. 26. GSVA contactsGSVA g @g+1 (408) 840 (89) 2180 (408) 320‐5720 26