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Dirk Wauters - Flanders & Leuven Tech Ecosystem - Stanford Engineering - 28 Jan 2019

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Talk by Dirk Wauters, KU Leuven (Leuven BE), at Stanford Engineering on January 28 2019, Session #3: 'Flanders : From WW1 Battlefields to Global Leadership in Enterprise Software & Semiconductors'.

Website: http://www.StanfordEuropreneurs.org
YouTube Channel: https://www.youtube.com/user/StanfordEuropreneurs
Twitter: @Europreneurs

Published in: Technology
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Dirk Wauters - Flanders & Leuven Tech Ecosystem - Stanford Engineering - 28 Jan 2019

  1. 1. Flanders : From WW1 Battlefields to Global Leadership in Enterprise Software, Semiconductors & Biotech January 28, 2019 Dirk Wauters Visiting Professor Innovation Management KU Leuven dirk.wauters@kuleuven.be Former CEO: VRT, Siemens Networks Belgium Software, Telecom, Media sectors Angel Investor
  2. 2. My personal journey • Stanford MBA Seminar - Steve Jobs: Prospectus of Apple (Fall 1980) à Is Apple worth 22 $ /share ? (After stock splits: = 0,4 $ today) - Apple Stock today: 157 $ 2 • Co-founder 1st KU Leuven Spin-off (1981) - Silvar-Lisco: software for IC design - IPO on Nasdaq in 1984 • 30+ years of industry experience - Entrepreneur, Large Companies, CEO - Alcatel, Siemens, VRT • Visiting Professor at KU Leuven, Angel Investor
  3. 3. Faculty of Economics and Business Administration3 Belgium and Flanders • Population: 11.3 mio (Flanders: 6.5 mio) • GDP/Capita: $ 46.6 K (US: $ 59.8 k) • Unique Location: - 60% of Europe’s purchasing power within 500 km • Economic Growth Drivers changing: - 1950’s - : investment by multinationals - 1980’s: ”Hidden Champions” – ‘Mittelstand’ - 2000 - : new entrepreneurial spirit • Historically lower capital funding - Vs Netherlands: private pension funding - Risk averse citizens: safe investments • Changing mindsets: - Historically not entrepreneurial - Role models, success stories - 2nd generation entrepreneurs - ‘02-’16: willingness to start own company X 3
  4. 4. Faculty of Economics and Business Administration4 1914: Belgium is the 5th largest economy in the world Middle Ages: Textiles 1425: KU Leuven 1800’s à Industrial Revolution Textiles, steel, coal mining, metals, railroad ß 1950’s: Foreign Investment Small & Medium Enterprises: “Hidden Champions” (8% of SME’s) Start-Ups Scale-Ups ß 2000 ß 1970’s World War I Depression World War II
  5. 5. Academic Spin-offs • Universities: KU Leuven, UGent • Research Institutions: - IMEC (1984), iMinds (2004) - VIB (1996) • “Invention” driven • ‘Triple Helix’: - Universities, Business, Government Faculty of Economics and Business Administration5 The Flanders innovation ecosystem: 3 waves 1980 à 2000 à 2010 à “Idea” Start-Ups • Idea, Business Model driven • Proximity to talent sources • Accelerators: - iMinds iStart Scale-Ups • VC Funding: 2nd generation entrepreneurs - Fortino, Smartfin • Foreign Investors: now majority - Iconiq, Insight VP, Spectrum Eqty • Government Incentive: Tax Shelter - Tax deduction: 45% of investment • 2018: - 728 mio € financing, 129 deals - > 40% in biotech
  6. 6. Faculty of Economics and Business Administration6 Belgium Venture Funding Source: Omar Mohout, European Tech Scaleups report 2017 https://www.slideshare.net/omohout/european-tech-scaleups-report-2017?from_action=save Amount raised (mio €, 2017) Amount Per capita (2017) Note: USA per capita is € 230
  7. 7. Faculty of Economics and Business Administration7 Private Equity Data for Belgium 80 144 89 439 207 170 395 1.339 649 913 1.696 931 0 200 400 600 800 1.000 1.200 1.400 1.600 1.800 2.000 Fundraising Investment Exits (€Millions) Private Equity Data for Belgium (2017) Venture Growth Capital Buyout Total Venture Investment by Sector (Annual Average '13-17) € Million # Deals Agriculture 9 3 Business products and services 12 13 Chemicals and materials 3 2 ICT (Communications, computer and electronics) 30 19 Construction 0 1 Consumer goods and services 4 9 Energy and environment 11 7 Financial and insurance activities 0 Real estate 3 3 Biotech and healthcare 35 22 Transportation Other 3 Total investment 111 79
  8. 8. • University Driven: - Ghent: Biotech (VIB), Software - Leuven: Health, engineering • Ports: trade activity - Antwerp: large chemical cluster • Hidden champions: - West-Flanders - Antwerp/Limburg • Brussels: - Capital City Faculty of Economics and Business Administration8 Flanders Regional Innovation Ecosystems • 5 universities - KU Leuven, Ugent: 70% of students - Antwerp, Hasselt, Brussels
  9. 9. Faculty of Economics and Business Administration9 The Biotech ecosystem in Flanders
  10. 10. • KU Leuven: - #5 most innovative university in the world, #1 in Europe - Early mover in Technology Licensing: LRD - Hospital - LCIE: student entrepreneurship • IMEC (Interuniversity Micro-Electronics Research Center) - #1 IC research center in the World - > 100 spin-offs, 125 mio € value-added, 1.250 employees • ‘City’ Ecosystem - Leuven ‘Mindgate’: Triple Helix - Health, High-Tech and Creativity Faculty of Economics and Business Administration10 The Leuven Innovation ecosystem KU Leuven IMEC ‘City’ Ecosystem
  11. 11. • Founded in 1972: third mission of the university • 95 employees • Three activity areas: - Contract & collaborative research: - 2000 new agreements / year - 70% of turnover - Intellectual property: - 200 invention disclosures / year - 100 mio $ royalty income / year - Spinning out companies: - >120 spin-offs so far - 7 IPO’s - 6.700 direct employees KU Leuven Research & Development (LRD)
  12. 12. Faculty of Economics and Business Administration12 Leuven Start-Ups & Spin-Offs IMEC Spin-Offs Year Company name Activities 2018 D-PAC Digital platform for assessment of competences. 2018 Spectricity Miniaturized spectral sensing solutions. 2018 Onera Next-Generation Sleep Diagnostic Device. 2018 Sentea Fiber optic sensors. Everywhere. 2017 ALOXY Industrial Internet of Things 2017 QRAMA The Big Data framework tailored to your needs. 2016 EUV RMQC Photoresist solutions for the semiconductor industry 2016 Indigo Diabetes Glucose sensor for diabetic patients. 2016 EYEco eyeCO Digital lenses for glasses 2016 BioSensource Measurement and data analysis technologies for drug discovery 2015 miDiagnostics Diagnostic devices and data for healthcare 2015 Zembro Smart monitoring watch for senior people 2015 sureCore Low-power memory IP. 2014 Bloom Wearable devices and services for pregnancy monitoring. 2014 Luceda Photonics Software and services for photonics designers. 2012 Atlas Neuroengineering Products and services for the brain research market 2010 EpiGaN GaN-on-Si and GaN-on-SiC epitaxial wafer materials 2010 Caliopa Developing and marketing advanced silicon photonics based optical transceivers for the data and telecommunications markets. 2010 MagCam Magnetic field camera measurement platform. 2009 Lumoza Printable electronics (electroluminiscent flexible panels). 2009 Pepric In-vivo molecular and functional imaging for pharma Leuven Start-Ups BINARTA binarta.com CUMUL.IO cumul.io DATACAMP DataCamp EYECO eyeco-eyeco.com GUARDSQUARE guardsquare.com Happy Volcano happyvolcano.com ICOMETRIX icometrix.com Miaa Guard miaaguard.com PickIt pickit3d.com THEO Technologies theoplayer.com TINKERLIST tinkerlist.tv QAELUM qaelum.com REIN4CED rein4ced.com SOUNDTALKS soundtalks.com XENOMATIX xenomatix.com IMEC Spin-Off KU Leuven Spin-Off
  13. 13. • Almost all are not university spin-offs • Gent(6) and Leuven (4) dominate the list • Growth rates lower than US success stories • Majority are SaaS companies Faculty of Economics and Business Administration13 Scale-Ups Deloitte Fast 50 (2018) # Company name City Growth % 1 GuardSquare Leuven 4714% 2 Mega Luik 3087% 3 Silverfin NV Gent 2842% 4 THEO Technologies Leuven 2076% 5 Teamleader Gent 1199% 6 iBanFirst Brussels 1149% 7 Nanopixel Roeselare 679% 8 ML6 Gent 654% 9 OncoDNA Gosselies 592% 10 EyeSee Gent 489% 11 Zentrick Gent 472% 12 CodaBox NV Heverlee 368% 13 Sync Solutions nv Sirault 357% 14 DX-Solutions Harelbeke 343% 15 Pitco Kessel 324% 16 Showpad Gent 317% 17 StepUp Consulting Leuven 310% 18 Monizze Woluwe-Saint-Piere 284% 19 AvioVision nv Hasselt 231% 20 Lansweeper Grembergen 228%
  14. 14. Faculty of Economics and Business Administration14 Company Cases
  15. 15. • Good news: - Entrepreneurship is ‘Hip’ and growing - Flourishing ‘Seed’ activity - Increased local funding and foreign investment - Technology Knowledge Centers - B2B Strengths • Challenges: - Scaling-up from Series A round - International expansion - 2nd/3rd generation entrepreneurs - Ambition & funding to become world leaders: - “Do we exit too early?” Faculty of Economics and Business Administration15 Challenges for Flanders Major Exits Technology AVT Cartagenia Clear2Pay Icos Vision Layerwise LMS Metris Trendminer Biotech Ablynx Tigenix

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