Venturelab Twente softlanding and new business incubation

Global Perspective European Business Incubation Programs By Aard Groen and Jaap van Tilburg Dutch Institute for Knowledge Intensive Entrepreneurship Nikos - University of Twente The Netherlands NBIA - Kansas - 22 April 2009

Presenters background ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Presentation ,[object Object],[object Object],[object Object],[object Object],[object Object]

EU Survey’s on Incubators (nr=source) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Definition Business Incubator (1) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Incubator business support instruments (3) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Distribution of 936 BIs accross the EU (2)

Figures and trends ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Figures (n=170) (% respondents)(2) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

More figures (n=170) (% respondents)(2) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Challenges ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Incubator programs Twente University ,[object Object],[object Object],[object Object],[object Object]

Twente – The Netherlands Business & Sciencepark Enschede University Germany

Business & Sciencepark Enschede ,[object Object],[object Object],[object Object]

Profiles Twente ,[object Object],[object Object],[object Object],[object Object],[object Object]

Twente incubator schemes KEB / VentureLab Money Networks Tasks and skills Strategy Phase Role (4S) TOP scheme BTC incubator / Mesa+ incubator / High Tech Factory 1. Opportunity recognition 2. Opportunity development 3. Opportunity exploitation

Twente University Incubator schemes VentureLab TOP scheme Mesa+ incubator BTC incubator …. enlargement KEB …. franchise High Tech Factory 1980 - 1989 1990 - 1999 2010+ 2000 - 2009

BTC-Twente incubator (since 1983)

BTC figures ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

TOP program (since 1983) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

“ Spin-off entrepreneur is excellent human bridge between university and business community”

Number of Top companies 1976–2007

TOP Impact on Research Groups ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Mesa+ incubator / High Tech Factory ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

KEB – (since 2003) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

KEB project - Results ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Venture Lab Twente: Realising ambitions with High Tech Prof. Dr. Aard J. Groen Professor of Innovative Entrepreneurship

A story: High tech start up (University Spin Off) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Growth? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Basic research question: ,[object Object],[object Object]

The entrepreneurial process Imagination Opportunity recognition Opportunity development Value creation Entrepreneur Network

Social system model (4S) a.o. Groen et al, 2008 Scale Economic adaptation leading to efficient production ECONOMIC CAPITAL Social networking SOCIAL CAPITAL Skills & values Pattern maintenance based on culture, knowledge, rules etc. CULTURAL CAPITAL Scope Goal attainment using strategies, power STRATEGIC CAPITAL Social networking SOCIAL CAPITAL Businessactor Academic actor Skills & values Pattern maintenance based on culture, knowledge, rules etc. CULTURAL CAPITAL Scope Goal attainment using strategies, power STRATEGIC CAP. Scale Economic adaptation leading to efficient production ECONOMIC CAPITAL Network Integration of scope, skill, scale in social interaction

4 S Business support Model Nikos Entrepreneur and Enterprise Scope: From Idea to Strategy Social Network- Contacts Skills: Patterns of Organisation Scale of Economy: Financial means ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Reasons for small growth Mono-disciplinary teams (tech) Management skills Strategic drift technology/market Small ambition “ Death valley” Long time to market High costs-high risk Little VC available Academic networks too little market networks Balancing weak- strong ties Entrepreneur and Enterprise Not market oriented Scope: from idea to Strategy Social Network- Contacts Skills: Patterns of Organisation Scale: Economy: Financial means ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],Four success factors for growth* (Leuven, Stanford, Cambridge) * Martijn Enter; Identifying factors that contribute to high-groth knowledge intensive ventures; Nikos , February 2006

Support instruments ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Knowledge & Space Organisational support Strategic Coach Soft loans Participation Contacts Brokerage Entrepreneur and Enterprise Coaching, Training & Courses Scope: from idea to Strategy Social Network- Contacts Skills: Patterns of Organisation Scale: Economy: Financial means

Training program Follows the value creation process in relation to 4S model and 4 teamroles VALUE CREATION Opportunity recognition Opportunity preparation Opportunity exploitation CTO/COO Culture Capital CFO Economic Capital CEO Strategic Capital CMO Social Capital

Characteristics of successful support of entrepreneurial processes ,[object Object],[object Object],[object Object]

What is VentureLab Twente? – the Design

Inspirations for designing VentureLab ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Advisors Technology Screening Process Research institutes / firms Participants 100 Interested Individuals Screening Process TOP-Teams Training Program Lecture Project ‘ normal’ Company Staff & Entrepreneurs Instructors e.g. TOP Follow up (support) Network (eg. VC’s) Design Venturelab Twente Selection & Matching High AmbitionCompany 60 selected Individuals TIMELINE Month 1 Month 4-12 Month 2 Month 4-6 Month 3

Characteristics of VentureLab Twente Ventures ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],COO / CTO Balanced teams operations organized, Q-systems in place & product offering ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors) CMO Strong connections with market (suppliers-clients) Managing strong & weak ties (in business & academic world) Entrepreneur and Enterprise Entrepreneurial and market orientation Scope: from idea to Strategy Social Network- Contacts Skills: Patterns of Organisation Scale: Economy: Financial means

Target Groups VentureLab Twente ,[object Object],[object Object],[object Object],[object Object],[object Object]

High Tech / High potential Group based selection process ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Expected Results ,[object Object],[object Object],[object Object],[object Object]

VentureLab Twente - summary ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Further information ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Thank you for your attention, time for Q&A Aard Groen a.j.groen@utwente.nl Jaap van Tilburg [email_address] Your gateway to success in Europe!

Venturelab Twente softlanding and new business incubation

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