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Why creating a start-up makes sense? TAIEX Moldova - June 2013


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During this conference in Chisinau (Capital of Moldova) I shared my vision and experience on why start-ups make sense for any economy and how success rates can be upgraded by effective incubation programs. In this workshop we also brainstormed about how the performance of incubation can be measured real-time!
Our audience in Chisinau came from government, academia, incubation, finance and business. I was honored to be invited by TAIEX (European Technical Assistance bureau) to come over and share my experience. It was my first time there and hope it won't be my last time.

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Why creating a start-up makes sense? TAIEX Moldova - June 2013

  1. 1. Creating Start-ups and framing it in the incubator Pim de Bokx Chairman DIA – Dutch Incubation Association Initiator of Pioneerz Partnership
  2. 2. Pim de Bokx 2 – Entrepreneur since my 20th – Several companies and organisations founded – Education in Landscape architecture and Business Science – Started private BViT innovation network in 2000 with 2 partners and 1 VC, developing 6 incubators over time: Delft, Rotterdam, The Hague, Amsterdam, Den Helder, Noordwijk. – Developer XLX game based entrepreneurship training. – Chairman DIA (Dutch Incubation Association) – Owner of Huygens-XC, Expertise Centre on Entrepreneurship Development and Business Incubation. – Founder Pioneerz Partnership to enable the PioneersSociety: “managing the risk to dramatically improve”
  3. 3. 3 PIONEERZ
  4. 4. History of Incubation in NL 1948: Wholesale building Rotterdam >> development business centers all over the country (now more than 400) 1986: Business Technology Centre of University Twente >> development of thematic incubators all over the country like Twinning (ICT) and Biopartner. 2000: BViT founded to develop a network of incubators 2000: Newconomy (private incubator) goes IPO. 2004: Gorillapark bankrupt; last private incubator to go bankrupt (except BViT incubators). 2006: New law on higher education and launch of government programme to stimulate universities to develop incubators. 4
  5. 5. Typology Dutch Incubation Industry 2012 3d generation / focus Nr. Remarks Design/Creative 10 High-Tech 8 Aero&Space 2 Noordwijk, Noordoostpolder Medic/Biotech/Life Science 8 Internet/IT/media 9 Sustainable/Cleantech 4 General/mix 10 TOTAL 51 Dutch Incubators Abroad 2 Silicon Valley, Hong Kong Softlanding service 3 Noordwijk, Almere, Delft Corporate 2 Philips, DSM University Owned 18 5
  6. 6. (c) Pim de Bokx, Taipei, 15-11-2011 6
  7. 7. (c) Pim de Bokx, Taipei, 15-11-2011 7
  8. 8. Creating Start-ups and framing it in the incubator
  9. 9. Entry Policy & Start Incubation Attract Projects Capital Formation Shout Human Capital Scout Intellectual Capital Screen Social Capital Select Financial Capital
  10. 10. Attract & Match Attract Projects Shout Scout Screen Select Match Projects Entry Policy Incubation Support Exit Policy Resources
  11. 11. Business Incubation Program • Entry Policy: objective, target group, target Enterprise stage, target technology/discipline, target sectors, target ROI, etc. • Incubation support: Entrepreneurial BI-team, cliënt or partner or development project? Focus on Entrepreneurial Team development, opportunity management/risk-management and market exposure. • Exit Policy: demand performance, create exit = launch to ‘normal’ market, celebrate succes • Resources: not unlimited, seeking efficiency, shared facilities, price vs. value mismatch.
  12. 12. Attract • Shout: communicate the entrepreneurial achievement, communicate success, attract Iconic entrepreneurs to the board • Scout: entrepreneurship days, open day/events, university education, guest colleges; get to know the potential talent • Screen: organize idea competitions, innovation challenges, technology quests; to find potential product concepts • Select: best possible entrepreneurial initiatives which fit your entry policy, incubation services, resources, exit outlook.
  13. 13. Startup Creation Capital Formation Human Capital Intellectual Capital Social Capital Financial Capital Kick-off Incubation Incubation Contract Business Planning Foundation Support Settle-in Support
  14. 14. Kick-off Incubation • Incubation Contract: purpose of the cooperation, targets, rights & duties, pricing, valuations, use of resources, invoicing, liability, secrecy (NDA) • Business Planning & Monitoring: establish operational plan, install monitoring and evaluation • Foundation Support: support effective Capital Formation (legal, financial, notary, IP, fiscal) don’t forget to value Human Capital and Social Capital • Settle-in Support: company registration, plug & play office, house rules, introduction to incubatees, mentors and network.
  15. 15. Capital Formation • Human Capital: a startup’s most valuable asset, mostly forgotten. • Intellectual Capital: Patents, Technology license, copyright, brands • Social Capital: suppliers, family & friends, launching customers, crucial partners • Financial Capital: founders equity, family debt, suppliers credit, customer pre-payments, subsidies/grants
  16. 16. Creating Start-ups and framing it in the incubator Measuring Incubation Performance
  17. 17. Measuring Incubation Performance • Measuring is learning NOT knowing • Selecting is valuing • Sharing is multiplying • Demanding progress is learning success • Towards ‘investment readiness’ • Prerequisite for Quality Management • Eminent to create and keep support from various stakeholders
  18. 18. Enterprise Development Model 18 ORIENTATIE PERCEPTIE CONCEPTIE INCUBATIE INTRODUCTIE PROMOTIE EXPLOITATIE INNOVATIE Ontwikkeling Ontwikkeling Ontwikkeling Ontwikkeling Ontwikkeling Ontwikkeling Ontwikkeling Ontwikkeling VAKmanschap Techniek Toepassing Product Markt Organisatie Financien Vernieuwing observatie idee concept/principe plan+prototype EXIT -2 EXIT -1 EXIT 0 EXIT 1 introductie EXIT 2 groei EXIT 3 EXIT 4 EXIT 5 Productieklaar Product marktontwikkeling diversificatie volwassen vernieuwing break-even marktacceptatie Business Concept Business Startup PlanProductontwikkelplan Marketingplanning ONDERNEMEN PROJECT START GROEI ondernemer draagt zorg voor de marktontwikkeling maar laat de verdere commercie over aan … ondernemer bouwt een marktgerichte onderneming op en verkoopt die. ondernemer bouwt een rendabel bedrijf op en verkoop (een deel) van het bedrijf. ondernemer splitst zijn bedrijf, (ver- )koopt delen, investeert in vernieuwing student rond af met het idee dat zelfstandig ondernemerschap wel/niet iets is voor hem/haar. onderzoeker rond af met de conclusie dat er wel/niet toepassingsmogelijk heden zijn. pre-starter rond af met een plan waarin de zakelijke potentie van het te ontwikkelen product blijkt. starter ontwikkeld product en laat de marktintroductie over aan anderen. marktintroductie begeleiden, markttoegang helpen, productieproces opzetten organisatie helpen opbouwen, leren managen, marktexposure vergroten selecteren pmc's met grootste exposure/rendement ratio en cashgenerators vernieuwen cashgenerators, zoeken nieuwe sterren, afbouwen slecht renderende zaken training & assessment mensen research & evaluatie ideeen om nieuwe technieken/processe n toe te passen teambuilding&kanse n assess. Resources vinden prototyping productdevelopment, projectmanagement, testomgeving product en commercialisatie- plan worden getoetsd op kwaliteit en financierbaarheid na een succesvolle marktintroductie en een goed financierbaar organisatieplan … na het verwerven van substantieel marktaandeel een behoorlijke marge … na het realiseren van een behoorlijk rendement en het in beeld krijgen van de levenscyli … student wordt geworven via voorlichting, curriculum en activiteiten. onderzoeker wordt bewust gemaakt van de mogelijkheden van ondernemerschap. persoon en concept worden getoetsd op commerciele potentie/ ond skills persoon, plan, prototype toets risico's en kwaliteiten, eerste klant/investeerder incubator Innovation factory
  19. 19. Thank You Ing. P.M. (Pim) de Bokx BSc. CPO of Pioneerz Partnership +31(0)654 247 268 +31(88)2848600 Partnerships • DIA (Dutch Incubation Association), • EBN/Quality Auditor EBN • ESA Business Incubation Centres • GNBI (Global Network of Business Incubation)