Embedded Entrepreneur Occ Cork


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Tom Doherty, The Embedded Entrepreneur presentation at Cork Open Coffee, Friday 26th June 2009

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  • When was the last time you ever heard this said by an enterprise board? Vested interest
  • Embedded Entrepreneur Occ Cork

    1. 1. 97.5%<br />of business ideas never get to <br />start-up<br />1<br />
    2. 2. How a new business starts<br />2<br />All new business starts <br />with an idea<br />Why did you start your <br />own business?<br />Be honest with yourself<br />
    3. 3. How a new business starts<br />3<br />All new business starts <br />with an idea<br />Why did you start your <br />own business?<br />Be honest with yourself<br />Make more money?<br />Be my own boss?<br />
    4. 4. How a new business starts<br />4<br />I’ve been made redundant<br />I’m unemployed<br />I’m a disgruntled employee<br />I have a great idea<br />Most new business start up<br />Out of necessity<br />
    5. 5. Lack of Confidence at Pre-Start-up<br />Will the innovative concept work? (the more innovative, more likely to fail)<br />Will I run out of money?<br />Will I run out of time?<br />Do I have the right skills?<br />Will I ever get a first customer?<br />5<br />
    6. 6. Taking our first steps<br />We contact the state agencies FIRST<br />Enterprise Ireland<br />BIC’s<br />Enterprise Boards<br />University Incubators<br />6<br />
    7. 7. What have the Romans…..<br />7<br />
    8. 8. Your business idea is rubbish<br />8<br />
    9. 9. Start-up’s need different support’s<br />The Embedded Entrepreneur<br />9<br />
    10. 10. 10<br />The embedded war correspondent <br />
    11. 11. The embedded entrepreneur<br />11<br />Tom Doherty Beyond:Targets<br />
    12. 12. The Embedded Entrepreneur<br />Embed a pre-start entrepreneur in a HOST Customers site for a fixed period of time<br />Only launch start-up once proof of concept has taken place within HOST customer<br />12<br />
    13. 13. We are already doing it in other areas!<br />2nd level work experience<br />Graduate internships<br />Work placement schemes for unemployed<br />Student exchange for Language Learning<br />13<br />
    14. 14. The Embedded Entrepreneur<br />How it works<br />14<br />
    15. 15. The Embedded Entrepreneur<br />How it works<br />15<br />
    16. 16. Benefits for Embedded Entrepreneur<br />Pre-Start-up fear diminished<br />Shortened timeline for feasibility, R+D<br />A physical premises<br />Develop concept in risk free environment<br />Prototype in real business environment<br />See other opportunities within HOST customer<br />Win FIRST Customer and Testimonial<br />Identify a potential Partner / Investor / Employer<br />PROVEN BUSINESS MODEL = SELF CONFIDENCE<br />16<br />
    17. 17. Benefits for the HOST Customer<br />Free or subsidised development <br />Business Knowledge<br />Philanthropy<br />17<br />
    18. 18. Benefits for Government Agencies<br />Agency get involved much earlier in the Potential Entrepreneurs decision process<br />Research and Development aid is used in real business environment<br />Both Host Customer and Embedded Entrepreneur benefit from R+D<br />Risk of Business Failure is reduced<br />MORE CONCEPTS go to market<br />18<br />
    19. 19. Rollout – the challenges<br />Challenges for the Government Agency<br />Who will fund it?<br />Mediation<br />Rules of Engagement<br />Pre-Qualification criteria for concept<br />19<br />
    20. 20. Rollout – the challenges<br />Challenges for the HOST Customer<br />Initial Approach<br />Insurance<br />Intellectual Property Theft<br />Confidentiality<br />20<br />
    21. 21. Rollout – the challenges<br />Challenges for the Embedded Entrepreneur<br />Intellectual Property Rights Protection<br />Insurance<br />Correctly identifying best HOST company<br />21<br />
    22. 22. Identify the best HOST<br />Manufacturing & Internationally Traded Services<br />Annual Business Survey 2007: Manufacturing & Internationally Traded Services – Selected Indicators<br />22<br />
    23. 23. START HERE<br />Do it yourself;<br />Take your first step and call your ideal host company FIRST and ask for their help<br />23<br />Tom Doherty Beyond:Targets tom@beyondtargets.com<br />