Money talks will cardwell


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  • Wehavehadthemalready in a way, buthavetroublecapturingmarketvalue.Nokia: 2.50 to 60 (1994 to 2001, then 40 to 10 (2008 to present)Whyaretheyimportantnow:Employment? Wealth? RoleModel? AllthreeA Big StoryA SimpleStoryAn EfficientEcosystemDrive / Adhere to TrendsFast
  • Money talks will cardwell

    1. 1. Outliers, Black Swans, and InternationalizingourEcosystem<br />Will.Cardwell@Aalto.Fi<br />
    2. 2. What is ACE Today ?<br />xES<br />Entrepreneurship <br />Education<br />NoteCombo of<br />Academic<br />And<br />Practice!<br />Entrepreneurship<br />Research<br />Innovation Services<br />and Technology<br />Transfer<br />Growth<br />Venturing and<br /> Start-Up Services<br />
    3. 3. ACE Innovation Services today and tomorrow *<br />* This is ”Practice” part and it is Critical to future of Finland and mustberesourcedaccordingly!!<br />
    4. 4. Finland’s (and Europe’s) Challenge<br />4<br />Creating<br />Growth<br />In order to makethishappen,wewillneed to dosomethingsdifferently – whatwearedoingis notworkingwellenough…<br />
    5. 5. Summary of Finnish high-tech company capital raising activity – Q32010<br />Finnish high-tech companies announced raising nearly €30 million of risk capital during Q3 of 2010. <br />The quarterly amount was comparable to Q3 2009, when Finnish high-tech companies were able to attract around €29 million euros of financing.<br />The amount of investments remained equivalent to the prior year’s Q3 activity, however, the average investment size in Q3 2008 was significantly smaller<br />TECHNOPOLIS PLC 14 December 2010<br />5<br />
    6. 6. In Israel (1)<br />6<br />
    7. 7. The following is how I viewthat the values of Finland’sinnovationecosystemneed to berecalibrated, and how Aalto will help…<br />7<br />
    8. 8. The Counter-IntuitiveReality of the Black Swan<br />Link<br />8<br />
    9. 9. Outliers and Black Swan explained.<br /><ul><li>DefiesPrediction
    10. 10. Makes a MassiveImpact
    11. 11. WemakeupExplanationsAfterward
    12. 12. Endowedwith an unfairadvantange.
    13. 13. Extremepractice and work</li></ul>Haveweeverhadany, and whyaretheysoimportanttoday?<br />
    14. 14. Caveats and Disclaimers<br />I AMsaying:<br />Finland/Europeneeds to create MANY €200MM+ growthcompanies to make the demographicmath of the futurework<br />We, as a University community, canlay the foundations for theirbirth and growth, butit is challenging and wemust LEARN how to dothat<br />I AM NOTsaying:<br />Thateverybodyshouldtunetheirstartup to try to be a BlackSwan<br />That the guys at the Black Swanswill (necessarily) be the richest, thoughhopefullyso…<br />ThatwecanevenguaranteeanyBlack Swanswillemerge<br />10<br />
    15. 15. 1. On Passion…<br />Ecosystem: promotes and rewards passion and ambition<br />Entrepreneur: Focus on huge, game-changingproblems<br />…and, letsnotbeat the billion euro ambition out of ourfounders !<br />Link<br />11<br />
    16. 16. 2. On Risk-taking and Failure…<br />Ecosystem: promotespioneering spirit embracing uncertainty, risk-taking and tolerating failure<br />Entrepreneur: Youmustnotfail! (butits OK ifyoudo, keeptrying!)<br />You just cannothave a Plan B !!<br />Link<br />Link<br />12<br />
    17. 17. 3. On Youth and Energy…<br />Ecosystem: Attract founders, who are ideally young, energetic and possibly migrants, and support them patiently<br />Entrepreneur: Startearly! Universities will probably drive the next Black Swan. And, DON’T BE PATIENT!<br />13<br />
    18. 18. About<br />34<br />About<br />26<br />14<br />
    19. 19.<br /><br />aaltogarage<br />
    20. 20. 4. On Customers…<br />Ecosystem: Willingcustomersparticipate in trial and errorprocesswithinnovators.<br />Entrepreneur: Get out of the officeall the time – live and breathewithcustomers.<br />And customers: ifyoudon’tpay, youarepart of the productorservice, act likeit!<br />Link<br />16<br />
    21. 21. 5. On Teams…<br />Entrepreneur: Bring in the bestwherevertheycomefrom (and manywillcomefromabroad!)<br />Ecosystem: Freedom offered to talent who should not be snatched from start-ups. Talent (and capital!) MUST be mobile!<br />Link<br />17<br />
    22. 22. Whatarewetrying to do at ACE to enablethis?<br />A Deep International Network<br />Bringworld-classlecturers, practitioners and studentsIN<br />SendourcommunityOUT to globalhotspots.<br />SupportREGULARbootcamps and eventsaroundkeythemes<br />Createwinning IP strategies<br />Raise the overallIMAGE of GrowthEntrepreneurship<br />Collaboratefluentlywithour national and regionalecosystem!<br />Getgreatideas into the marketFAST!<br />18<br />
    23. 23. SelectSpin-offs and Start-UpsfromAalto University<br />SomePast<br />Start-Ups<br />Hybrid Graphics<br />F-Secure<br />Sulake<br />Rovio<br />Solid<br />… manyothers<br />
    24. 24. Any Ideas? Invented Something?<br />Contact us directly:<br />Will Cardwell, Head, 040 514 1325<br />Pauli Laitinen, Innation Services teamleader, 050 338 0509<br />Or looked at:<br />20<br />