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smart city expo 2014
Valto Loikkanen
Grow VC Group ++
www.growvc.com ++
@growvc ++
Copyrights © Grow VC Group 2014
For twitter
@valto
#startupecosystem
About me
As an Entrepreneur
● 20 years as international Serial Entrepreneur (US, EU, Asia) &
Portfolio Entrepreneur, with personal hard earn success & failures
● 17 years experience in developing web based tools for various
business processes
● 6 Years of developing equity crowdfunding model globally via Grow
VC Group (scaling access & availability of risk funding)
● 5 years for Startup Ecosystem online support tools, platforms &
metrics
● Past year, being part of three Horizon 2020 Groups: Access to Risk
Finance, Widening participation and International Cooperation
As a Business Advisor
● 10 years of startup mentoring with over 2000 one to one mentoring
sessions and workshops with 1000+ entrepreneurs and hundreds
of startups around the world at various development stages and
industries
● 10 years developing Startup Support services, with entrepreneurial
mind and lean methodology (fast ideation, implement and measure
cycle)
● 5 years of “living lab” development for Startup Ecosystem in
Finland with City of Helsinki
About Grow VC Group
"The global pioneer of securities crowdfunding, peer
to peer marketplaces and new investment models."
Other Business Verticals
Real estate, P2P loans etc.
Consulting
& knowledge
Services
Local Investors
Startups
Startup Ecosystem
Global
Investors
Enable online
investment
platforms and
marketplaces
Online infrastructure
to manage and
measure startup
ecosystems
Other Business Verticals
Real estate, P2P loans etc.
Consulting
& knowledge
Services
Local Investors
Startups
Startup Ecosystem
Global
Investors
Enable online
investment
platforms and
marketplaces
Online infrastructure
to manage and
measure startup
ecosystems
"How to generate more
innovation and improve return
on investment from your
innovation ecosystem."
Where Does Innovation Happen?
Research
IPR
Innovation via Big
Companies & Public
Sector.
Closed process &
Internal resources
Innovation by
Startups
Funding
Sources
Innovation Ecosystem
Customers
Innovation process is moving away from “closed
structures” and big companies to more open and
collaborative startup ecosystem.
Megatrend
Research
IPR
Innovation via
Big Companies &
Public Sector.
Closed process &
Internal resources
Innovation
by
Startups
Research
IPR
Innovation via
Big
Companies &
Public Sector.
Innovation by
Startups
Open,
collaborative &
external resources
Funding
Sources
Service
Providers
Support
Organizations
Funding
Sources
New
Funding
Solutions
Innovation
Ecosystem
Startup
Ecosystem
Customers
Customers
Research
IPR
Innovation via
Big Companies
& Public Sector.
Innovation by
Startups
Open, collaborative &
external resources
Funding
Sources
Service
Providers
Support
Organizations
New
Funding
Solutions
Startup Ecosystem
Customers
Why this megatrend?
● The megatrends of innovation is focusing more and more around startups
● The old world is about ideas, research and big companies creating the
innovation (products and services from these).
● The old models is already working at it’s best and is difficult to improve - as
such, little growth can be achieved in that area
● The new world is about making the innovation happen via Startups, where
innovation is also more openly and independently exposed to markets
● Startups are “outsourced innovation” for big companies and biggest group
generating new jobs
● Startups are fast, flexible, highly motivated, cost effective and supported by
private and public parties
● The big companies themselves are moving away from traditional innovation
models towards more open innovation and working with and buying most
promising startups after they have validated scalable innovation.
Difference between
innovation & startup?
“Innovation is about developing
a new product, service or business model.”
“Startups do innovation and also develop
a new growing company & business.”
"What are the keys to get
successful results?"
● To new growth ambition startup creation
● Pre-startup and early stage startup support
services
● get more research, inventions, ideas and
other IPR to be utilized by startups
Focus
Why Startups?
Recent study by Kauffman Foundation
and the Institute for Competitiveness
& Prosperity.
“Over the last twenty five years,
almost all of the private sector jobs
have been created by businesses
less than five years old.”
“Between 1988 and 2011, companies
more than five years old destroyed
more jobs than they created in all
but eight of those years.”
What is a Startup?
Startup
“A startup company or startup is a company or
temporary organization designed to search for a
repeatable and scalable business model”
http://en.wikipedia.org/wiki/Startup_company
Startup
“The only essential thing is growth. Everything
else we associate with startups follows from
growth.”
http://en.wikipedia.org/wiki/Startup_company
A B
C D
High Growth Ambition and
very scalable business model
Low Growth Ambition and/or
Non Scalable business
Market
validated
business
model
Unvalidated
business model
"a kiosk"
"new startup"
“New Startup”
Startup stages
http://en.wikipedia.org/wiki/Startup_company
Startup Development?
?
Startup Development
Improved Startup stages
ScaleProduct
Market Fit
Growth
Time
Ideation
Scalable product or
service idea for a
big enough target
market. Some
initial business
models for how it
would make
money. One
person or only a
vague team; no
confirmed
commitment or no
right balance of
skills in the team
structure yet.
Concepting
Clear and meaningful
target with direction
for at least 3 years
with milestones how
to get there, -> 3, 6,
12, 24, 36 months…
Team of two or three
core founding
partners with
balanced ownership.
Can also already
have some extended
team with lighter
commitment (stock
options and or cash
compensation)
Commitment
Committed and
balanced founding
team. Able to develop
the product or service
(Minimum Viable
Product) without
dependency of
uncommitted external
resources, or already an
initial product or service
in place. Existing signed
shareholder agreement
between founders, with
milestones, committed
time and money use, for
at least 2+ years with
vesting.
Validation
Can demonstrate
some user growth and
or revenue (initial
traction). Continue to
attract additional
resources (money or
sweat equity) for
equity or future
revenue. Looking for
clear market validation
(Product Market Fit),
to move into scaling.
Scaling
Showing a clear,
growing and
measurable user and or
market traction in a big
or rapidly growing
target market. Can and
wants to scale fast.
May have attracted
significant funding.
Establishing
Achieved great growth,
that can expected to
continue. No longer
needs to struggle to
get resources and can
acquire those easily.
Continues to grow and
often wants to
culturally continue
behaving like a
"startup" for as long as
possible. Founders exit
or continue business
as usual.
Minimum Viable
Product (MVP)
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License.
To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/
or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Startup Key Stages
By www.startupcommons.org
Vision & Mission
-2 -1 0 21 3
Target
Startup Ecosystem
A startup ecosystem is formed by people, startups in their various
stages and various types of organizations in a location (physical
and/or virtual), interacting as an organic system to create new
companies.
Different organizations typically focus on specific parts of the
ecosystem function and/or startups at their specific development
stage(s).
Learn more: http://www.startupcommons.org/understanding-startup-ecosystems1.html
Startups & Ecosystems
Startups develop in startup ecosystems through the
development phases in constant interaction with
various organizations, services & people.
The more dynamic, transparent and balanced the
ecosystem is the more successful startups ecosystem
can create.
Case Helsinki
Challenge was
● Not enough (high) growth companies in Finland
● Growth services were a total mess
● Growth potential or stage was not systematically
identified
● Angel investing was not systematically organized
● Poor investment readiness
● Ecosystem concept and understanding as a whole was
missing
● ROI at single service and ecosystem level is unclear
Level 1: Identify problem
● Growth potential and development phases should be
systematically identified
● Need more high growth companies to Helsinki
● Clear guidance to right growth paths
● Matching growth potential with most fitting services,
people and accelerators should be systematically
coordinated
● Improved investment readiness
● Ecosystem should be visualized to be understood
Level 2: Take action
● Make Startup development phases more broadly used
as "canvas" for ecosystem service design
● Get common terminology more broadly to be used
● Identify service gaps and development new services to
fix them
● Improve ecosystem level understanding and
communications among the ecosystem parties
● Define handovers between services and iteratively
improve
● Implement online ecosystem infrastructure to BETA use
Level 3: Finalize and start iterating
● Common metrics identified
● Ecosystem IT infrastructure in use
● Metrics implementation
● Metrics in use and shared with the ecosystem
● Iterative ecosystem development and validation by
metrics
Midterm results
● Less unknown
● Silos are braking
● ROI becomes more measurable and understandable
target
● Growing supply of “investment ready” startups
● more new companies creating jobs and attracting
international investments into region
Three steps of ecosystem development
1. map out starting position
2. Identify and fix gaps and bottlenecks
3. implement measurements
Iteratively improve; measure and learn
With help of key stages tool
● Map out ecosystem services
○ Public & Private
● Describe ecosystem target
● Label items;
○ startups, services, events, funding instruments, blog
posts, tools, ideas, suggestions, etc.
ScaleProduct
Market Fit
Growth
Time
Ideation
Scalable product or
service idea for a
big enough target
market. Some
initial business
models for how it
would make
money. One
person or only a
vague team; no
confirmed
commitment or no
right balance of
skills in the team
structure yet.
Concepting
Clear and meaningful
target with direction
for at least 3 years
with milestones how
to get there, -> 3, 6,
12, 24, 36 months…
Team of two or three
core founding
partners with
balanced ownership.
Can also already
have some extended
team with lighter
commitment (stock
options and or cash
compensation)
Commitment
Committed and
balanced founding
team. Able to develop
the product or service
(Minimum Viable
Product) without
dependency of
uncommitted external
resources, or already an
initial product or service
in place. Existing signed
shareholder agreement
between founders, with
milestones, committed
time and money use, for
at least 2+ years with
vesting.
Validation
Can demonstrate
some user growth and
or revenue (initial
traction). Continue to
attract additional
resources (money or
sweat equity) for
equity or future
revenue. Looking for
clear market validation
(Product Market Fit),
to move into scaling.
Scaling
Showing a clear,
growing and
measurable user and or
market traction in a big
or rapidly growing
target market. Can and
wants to scale fast.
May have attracted
significant funding.
Establishing
Achieved great growth,
that can expected to
continue. No longer
needs to struggle to
get resources and can
acquire those easily.
Continues to grow and
often wants to
culturally continue
behaving like a
"startup" for as long as
possible. Founders exit
or continue business
as usual.
Minimum Viable
Product (MVP)
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License.
To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/
or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Startup Key Stages
By www.startupcommons.org
Vision & Mission
-2 -1 0 21 3
Target
-2 -1 30 21
Public services
& funding
Private service providers
& investors
Supporting Startup Development
Startup Knowledge - Money & Connections
Map your current startup
ecosystem support
services
-2 -1 30 21
BusinessideaTeam
Online Communities and tools on connected platform (Startup Commons)
BusinessCompany
Sample set of services
-2 -1 30 21
BusinessideaTeam
Private Advisory: Multiple advisors
In search of co-founders
SHA Workshop
Group Advisory
Private Advisory: One advisor
Pitch Training & feedback
General networking
In search of team members
Startup Info (stages & service matching)
Company registration, VAT etc. basics advisory
Co-working space and pop up advisory
Pitching events: for advisors, funding, sweat equity & visibility
Recruiting support & advisory
Biz Model Canvas
MVP & metrics workshop
Customer Development
Online Communities and tools on connected platform (Startup Commons)
BusinessCompany
Random events, meetups & presentations in the ecosystem
Media as a Service
Marketing ServicesMarketing Workshop
Subsidised specialist grants (UX, design etc. etc.)
Sales as a Service
Subsidised specialist grants (accounting, legal
etc.)
Startup Weekend etc.
Accelerator Bootcamps
Public sector as a customer
Evaluating things
Business Idea Potential
More Potential
Big Market
Market growing
Market pull
Scalable
Less Potential
Small market
Market shrinking
Market Push
Not scalable
Team Validation
More Potential
Good Team
Balanced Skills
Committed
Doer Attitude
Right Culture
Less Potential
Solo Entrepreneur
Uneven Skills
Not committed
Talker Attitude
Wrong Culture
A B
C D
High Growth Ambition and
very scalable business model
Low Growth Ambition and/or
Non Scalable business
Market validated
business model
Unvalidated
business model
"a kiosk"
New Startup
at Stage 0
Startup
Early Startup
at Stage 2
A B
C D
High Job Creation Potential (need
of people)
Low Job Creation Potential
Low Demand Potential
Very few and/or low paying
limited region customers
High Demand Potential
a lot of potential well
paying international
customers
No Value Idea
High Value Idea
Idea evaluation
NOTE: as a public sector!
Medium Value Idea
Low Value Idea
Use together with
development phases
criteria
About Metrics
● Ecosystem as a funnel
● Input and output volumes of each service
● Compare each service ROI separately
Other tools
● Ecosystem development workshop
● Development support
● Mapping and agreement templates
● Ecosystem IT infrastructure
● Knowledge on demand (for all levels)
● Library of best practices service models
● Develop startup ecosystem as a whole
● Measure “everything” to learn and improve
● Improve iteratively
Recap
Single most valuable
tool to improve your
ROI
Free to use under
creative commons
licence
Original www.
startupcommons.org
Licence terms
http://creativecommons.
org/licenses/
“Only the things that are understood can
be developed”
“When more people and organizations
are developing things together, there
needs to be a common language and
understanding about what is being
developed.”
“Systematically implement this common
language to your ecosystem and
everything follows naturally.”
“Only things that can be measured,
can be improved.”
“Missing knowledge you can buy.”
“Plenty of EU funding available.”
Just take the first step...
Valto Loikkanen
valto@growvc.com
+358 400 421 551 (FIN)
+1 415 854-0546 (US)
Grow VC Group ++
www.growvc.com ++
@growvc ++
Twitter
@valto
#startupecosystem

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Smart City Expo 2014: How to generate more innovation and improve return on investment from your innovation ecosystem

  • 1. smart city expo 2014 Valto Loikkanen Grow VC Group ++ www.growvc.com ++ @growvc ++ Copyrights © Grow VC Group 2014
  • 4. As an Entrepreneur ● 20 years as international Serial Entrepreneur (US, EU, Asia) & Portfolio Entrepreneur, with personal hard earn success & failures ● 17 years experience in developing web based tools for various business processes ● 6 Years of developing equity crowdfunding model globally via Grow VC Group (scaling access & availability of risk funding) ● 5 years for Startup Ecosystem online support tools, platforms & metrics ● Past year, being part of three Horizon 2020 Groups: Access to Risk Finance, Widening participation and International Cooperation
  • 5. As a Business Advisor ● 10 years of startup mentoring with over 2000 one to one mentoring sessions and workshops with 1000+ entrepreneurs and hundreds of startups around the world at various development stages and industries ● 10 years developing Startup Support services, with entrepreneurial mind and lean methodology (fast ideation, implement and measure cycle) ● 5 years of “living lab” development for Startup Ecosystem in Finland with City of Helsinki
  • 6. About Grow VC Group "The global pioneer of securities crowdfunding, peer to peer marketplaces and new investment models."
  • 7. Other Business Verticals Real estate, P2P loans etc. Consulting & knowledge Services Local Investors Startups Startup Ecosystem Global Investors Enable online investment platforms and marketplaces Online infrastructure to manage and measure startup ecosystems
  • 8. Other Business Verticals Real estate, P2P loans etc. Consulting & knowledge Services Local Investors Startups Startup Ecosystem Global Investors Enable online investment platforms and marketplaces Online infrastructure to manage and measure startup ecosystems
  • 9. "How to generate more innovation and improve return on investment from your innovation ecosystem."
  • 11. Research IPR Innovation via Big Companies & Public Sector. Closed process & Internal resources Innovation by Startups Funding Sources Innovation Ecosystem Customers
  • 12. Innovation process is moving away from “closed structures” and big companies to more open and collaborative startup ecosystem. Megatrend
  • 13. Research IPR Innovation via Big Companies & Public Sector. Closed process & Internal resources Innovation by Startups Research IPR Innovation via Big Companies & Public Sector. Innovation by Startups Open, collaborative & external resources Funding Sources Service Providers Support Organizations Funding Sources New Funding Solutions Innovation Ecosystem Startup Ecosystem Customers Customers
  • 14. Research IPR Innovation via Big Companies & Public Sector. Innovation by Startups Open, collaborative & external resources Funding Sources Service Providers Support Organizations New Funding Solutions Startup Ecosystem Customers
  • 15. Why this megatrend? ● The megatrends of innovation is focusing more and more around startups ● The old world is about ideas, research and big companies creating the innovation (products and services from these). ● The old models is already working at it’s best and is difficult to improve - as such, little growth can be achieved in that area ● The new world is about making the innovation happen via Startups, where innovation is also more openly and independently exposed to markets ● Startups are “outsourced innovation” for big companies and biggest group generating new jobs ● Startups are fast, flexible, highly motivated, cost effective and supported by private and public parties ● The big companies themselves are moving away from traditional innovation models towards more open innovation and working with and buying most promising startups after they have validated scalable innovation.
  • 17. “Innovation is about developing a new product, service or business model.”
  • 18. “Startups do innovation and also develop a new growing company & business.”
  • 19. "What are the keys to get successful results?"
  • 20. ● To new growth ambition startup creation ● Pre-startup and early stage startup support services ● get more research, inventions, ideas and other IPR to be utilized by startups Focus
  • 22. Recent study by Kauffman Foundation and the Institute for Competitiveness & Prosperity.
  • 23. “Over the last twenty five years, almost all of the private sector jobs have been created by businesses less than five years old.”
  • 24. “Between 1988 and 2011, companies more than five years old destroyed more jobs than they created in all but eight of those years.”
  • 25. What is a Startup?
  • 26. Startup “A startup company or startup is a company or temporary organization designed to search for a repeatable and scalable business model” http://en.wikipedia.org/wiki/Startup_company
  • 27. Startup “The only essential thing is growth. Everything else we associate with startups follows from growth.” http://en.wikipedia.org/wiki/Startup_company
  • 28. A B C D High Growth Ambition and very scalable business model Low Growth Ambition and/or Non Scalable business Market validated business model Unvalidated business model "a kiosk" "new startup" “New Startup”
  • 33. ScaleProduct Market Fit Growth Time Ideation Scalable product or service idea for a big enough target market. Some initial business models for how it would make money. One person or only a vague team; no confirmed commitment or no right balance of skills in the team structure yet. Concepting Clear and meaningful target with direction for at least 3 years with milestones how to get there, -> 3, 6, 12, 24, 36 months… Team of two or three core founding partners with balanced ownership. Can also already have some extended team with lighter commitment (stock options and or cash compensation) Commitment Committed and balanced founding team. Able to develop the product or service (Minimum Viable Product) without dependency of uncommitted external resources, or already an initial product or service in place. Existing signed shareholder agreement between founders, with milestones, committed time and money use, for at least 2+ years with vesting. Validation Can demonstrate some user growth and or revenue (initial traction). Continue to attract additional resources (money or sweat equity) for equity or future revenue. Looking for clear market validation (Product Market Fit), to move into scaling. Scaling Showing a clear, growing and measurable user and or market traction in a big or rapidly growing target market. Can and wants to scale fast. May have attracted significant funding. Establishing Achieved great growth, that can expected to continue. No longer needs to struggle to get resources and can acquire those easily. Continues to grow and often wants to culturally continue behaving like a "startup" for as long as possible. Founders exit or continue business as usual. Minimum Viable Product (MVP) This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. Startup Key Stages By www.startupcommons.org Vision & Mission -2 -1 0 21 3 Target
  • 34. Startup Ecosystem A startup ecosystem is formed by people, startups in their various stages and various types of organizations in a location (physical and/or virtual), interacting as an organic system to create new companies. Different organizations typically focus on specific parts of the ecosystem function and/or startups at their specific development stage(s). Learn more: http://www.startupcommons.org/understanding-startup-ecosystems1.html
  • 35. Startups & Ecosystems Startups develop in startup ecosystems through the development phases in constant interaction with various organizations, services & people. The more dynamic, transparent and balanced the ecosystem is the more successful startups ecosystem can create.
  • 37. Challenge was ● Not enough (high) growth companies in Finland ● Growth services were a total mess ● Growth potential or stage was not systematically identified ● Angel investing was not systematically organized ● Poor investment readiness ● Ecosystem concept and understanding as a whole was missing ● ROI at single service and ecosystem level is unclear
  • 38. Level 1: Identify problem ● Growth potential and development phases should be systematically identified ● Need more high growth companies to Helsinki ● Clear guidance to right growth paths ● Matching growth potential with most fitting services, people and accelerators should be systematically coordinated ● Improved investment readiness ● Ecosystem should be visualized to be understood
  • 39. Level 2: Take action ● Make Startup development phases more broadly used as "canvas" for ecosystem service design ● Get common terminology more broadly to be used ● Identify service gaps and development new services to fix them ● Improve ecosystem level understanding and communications among the ecosystem parties ● Define handovers between services and iteratively improve ● Implement online ecosystem infrastructure to BETA use
  • 40. Level 3: Finalize and start iterating ● Common metrics identified ● Ecosystem IT infrastructure in use ● Metrics implementation ● Metrics in use and shared with the ecosystem ● Iterative ecosystem development and validation by metrics
  • 41. Midterm results ● Less unknown ● Silos are braking ● ROI becomes more measurable and understandable target ● Growing supply of “investment ready” startups ● more new companies creating jobs and attracting international investments into region
  • 42. Three steps of ecosystem development 1. map out starting position 2. Identify and fix gaps and bottlenecks 3. implement measurements Iteratively improve; measure and learn
  • 43. With help of key stages tool ● Map out ecosystem services ○ Public & Private ● Describe ecosystem target ● Label items; ○ startups, services, events, funding instruments, blog posts, tools, ideas, suggestions, etc.
  • 44. ScaleProduct Market Fit Growth Time Ideation Scalable product or service idea for a big enough target market. Some initial business models for how it would make money. One person or only a vague team; no confirmed commitment or no right balance of skills in the team structure yet. Concepting Clear and meaningful target with direction for at least 3 years with milestones how to get there, -> 3, 6, 12, 24, 36 months… Team of two or three core founding partners with balanced ownership. Can also already have some extended team with lighter commitment (stock options and or cash compensation) Commitment Committed and balanced founding team. Able to develop the product or service (Minimum Viable Product) without dependency of uncommitted external resources, or already an initial product or service in place. Existing signed shareholder agreement between founders, with milestones, committed time and money use, for at least 2+ years with vesting. Validation Can demonstrate some user growth and or revenue (initial traction). Continue to attract additional resources (money or sweat equity) for equity or future revenue. Looking for clear market validation (Product Market Fit), to move into scaling. Scaling Showing a clear, growing and measurable user and or market traction in a big or rapidly growing target market. Can and wants to scale fast. May have attracted significant funding. Establishing Achieved great growth, that can expected to continue. No longer needs to struggle to get resources and can acquire those easily. Continues to grow and often wants to culturally continue behaving like a "startup" for as long as possible. Founders exit or continue business as usual. Minimum Viable Product (MVP) This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. Startup Key Stages By www.startupcommons.org Vision & Mission -2 -1 0 21 3 Target
  • 45. -2 -1 30 21 Public services & funding Private service providers & investors Supporting Startup Development Startup Knowledge - Money & Connections
  • 46. Map your current startup ecosystem support services
  • 47. -2 -1 30 21 BusinessideaTeam Online Communities and tools on connected platform (Startup Commons) BusinessCompany
  • 48. Sample set of services
  • 49. -2 -1 30 21 BusinessideaTeam Private Advisory: Multiple advisors In search of co-founders SHA Workshop Group Advisory Private Advisory: One advisor Pitch Training & feedback General networking In search of team members Startup Info (stages & service matching) Company registration, VAT etc. basics advisory Co-working space and pop up advisory Pitching events: for advisors, funding, sweat equity & visibility Recruiting support & advisory Biz Model Canvas MVP & metrics workshop Customer Development Online Communities and tools on connected platform (Startup Commons) BusinessCompany Random events, meetups & presentations in the ecosystem Media as a Service Marketing ServicesMarketing Workshop Subsidised specialist grants (UX, design etc. etc.) Sales as a Service Subsidised specialist grants (accounting, legal etc.) Startup Weekend etc. Accelerator Bootcamps Public sector as a customer
  • 51. Business Idea Potential More Potential Big Market Market growing Market pull Scalable Less Potential Small market Market shrinking Market Push Not scalable
  • 52. Team Validation More Potential Good Team Balanced Skills Committed Doer Attitude Right Culture Less Potential Solo Entrepreneur Uneven Skills Not committed Talker Attitude Wrong Culture
  • 53. A B C D High Growth Ambition and very scalable business model Low Growth Ambition and/or Non Scalable business Market validated business model Unvalidated business model "a kiosk" New Startup at Stage 0 Startup Early Startup at Stage 2
  • 54. A B C D High Job Creation Potential (need of people) Low Job Creation Potential Low Demand Potential Very few and/or low paying limited region customers High Demand Potential a lot of potential well paying international customers No Value Idea High Value Idea Idea evaluation NOTE: as a public sector! Medium Value Idea Low Value Idea
  • 55. Use together with development phases criteria
  • 56. About Metrics ● Ecosystem as a funnel ● Input and output volumes of each service ● Compare each service ROI separately
  • 57. Other tools ● Ecosystem development workshop ● Development support ● Mapping and agreement templates ● Ecosystem IT infrastructure ● Knowledge on demand (for all levels) ● Library of best practices service models
  • 58. ● Develop startup ecosystem as a whole ● Measure “everything” to learn and improve ● Improve iteratively Recap
  • 59. Single most valuable tool to improve your ROI Free to use under creative commons licence Original www. startupcommons.org Licence terms http://creativecommons. org/licenses/
  • 60. “Only the things that are understood can be developed”
  • 61. “When more people and organizations are developing things together, there needs to be a common language and understanding about what is being developed.”
  • 62. “Systematically implement this common language to your ecosystem and everything follows naturally.”
  • 63. “Only things that can be measured, can be improved.”
  • 65. “Plenty of EU funding available.”
  • 66. Just take the first step...
  • 67. Valto Loikkanen valto@growvc.com +358 400 421 551 (FIN) +1 415 854-0546 (US) Grow VC Group ++ www.growvc.com ++ @growvc ++ Twitter @valto #startupecosystem