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Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Wellcome to COURSE 42435Knowledgebased Entrepreneurship 2006
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Agenda
Presentation of YOU
Our guests to day:
IDEA Anne Kirketerp Linstad
Venturecup Torsten Kolind
Steffen G. Brandenhoff
Our mentor program Christian Hauch
The Course
The Entrepreneur
Entrepreneurship: succes & failure
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
To Do List
Fill out your personal ID form
Submit it to John Heebøll
- today, 7 Sept.
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
PRESENTATION5 sec. each. 10 sec. at a max.• Name• Specialties• How many years in further education?• If intl. student: from where?• If visitor: why here – and from where ?• Any particular message to the audience ?
Take notes if you would invite the presenter
to join your team – or be part
of hers/his
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
PRESENTATION
IDEA and Anne Kirketerp Linstad
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
PRESENTATION
Christian HauchM.Sc. (DTU 1994), MBA11years experience with business- and product-development:Head of department, Greenwood Engineering (measuring equipment).Project manager Nokia.Associate professor, IPL, Greenhouse+
Phone: +45 4525 4675SKYPE: christianhauchCell: +45 6062 7235Mail: [email protected]
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
The Mentor Program
Mentors will be assigned to each team – on requestUse them for advice on building you business plan. In particular to get over the hurdles of selecting a business idea, defining a business model and the final trimming of the business plan.
Mentors are:John Heebøll and Christian Hauch from Væksthus+Investment managers from DTU-InnovationExternal mentors
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
PRESENTATION
The Venturecup!
www.venturecup.dk
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
TIME OUT
Get your personal ID form
Fill it out
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Agenda - 2
Presentation of the Course• The Teacher • Mission Statement• Methodology• Course Plan• Textbook and Materials• Work Plan
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
The Teacher• M.Sc. CE. DTH, 1974• Mil. service, Research Dept.• VIP, DTH, 1976 – 1988• DTU Incubator 1988 – 2000• DTU Innovation 2000 – 2004• Ass. prof., IPL, 1992 ->
• CEO, Gastrotechnology, 2004 -> 2006• Boardmember, app 15 Start-ups• Chairman, Swantec ApS• Boardmember, Image Metrology A/S, GPT• Own company:
Danish Product Development ApS
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Dansk Produktudvikling ApS
JOB SHOP! D
on’t do it
. Sta
y focu
ssed
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
The Importance of Entrepreneurship
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Do We need more entrepreneurs?The Global Entrepreneurship Monitor GEM says YESVariation in rates of entrepreneurship may account for as much as one-third of the variation in economic growth
Best Countries: 15% of New Companies Start growing rapidly
Denmark: 5% of New Companies expand
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Do We need more Entrepreneurs ?
YES! They make our industry more robust• New industrialized nations take over classic industry• Large companies do incremental innovation. Radical
break-through is the entrepreneur’s turf• New knowledge and technology in an increasingly
global marketplace creates ever more sophisticated business opportunities – waiting for the skilled entrepreneur.
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Does it Matter what a Uni does?
• One in four faculty involved in technology venturing
• 5.000+ companies founded by graduates and faculty since 1861
• Employees at MIT– companies > 1.000.000
• Sales of MIT- companies > $250 Billion/yr
• If a nation: 24th largest in the world
Massachusetts Institute of Technology
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Does it matter what a university does?Technical University of Denmark
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Alltogether: entrepreneurship makes a lot of sense – and now to
THE COURSE
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Rationale
High Tech Venturing is a complex, demanding and interdisciplinary process.
Succes depends on multiple competencies, networks, advanced technical knowledge, business experience
Multiple Competencies Education and Training
Networks Group work, Venture
Cup
Business experience Mentor program
Go out and do it!
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Objectives• Qualify your interest in business start-up• Learn how to start a company• Study experiences• Train methods and principles =Solid applicable competencies• Develop business talent: learn to see the
business opportunity – learn to capture it.• Develop some self confidence: You can do it!• Create new companies
Business start-up takes a qualified decision
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Evoke the Entrepreneur
Evoke the Entrepreneur Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies
• The Near-Entrepreneurial Experience• Introduction to a Working Life• Develop trust in own competencies• Get inspiration from successfull entrepreneurs
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Learn How to Start and run a Company
Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies
Subjects covered:• Basic experiences and practicalities• Creativity and new business ideas• Business models and start-up strategies• Business planning• Marketing economics• Financing• Business administration• Business law• Intellectual property rights• Management
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Study experiences
Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies
Case Stories:• Entrepreneurs• Consultants• Investors
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Train Methods and Principles - 1
Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies
Project-oriented Group Work• Opportunity-driven Creativity• Pre-analysis• Information research• Information analysis• Business model development• Business Planning• Presentation & Pitching
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Train Methods and Principles - 2
Business Development• Ideas• Pre-analysis• Information research• Information analysis• Business model development• Business Planning• Presentation & Pitching
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Qualify Your Capabilities
Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies
• Realistic perception of opportunities• Qualifying your basis of decision• Develop specific self-confidence• Make a qualified decision
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Develop your networks
Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies
• Meet new people – in the group – and outside• Start working with them in a start-up context• Meet some of the players within financing and
consultancy• Meet your customers – your jury!
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Develop your business talent
Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies
Get to know your marketplace• Find out what can be sold and what not• Develop your capacity for sensing business
opportunities• Develop ”the silent merchant”: the continous
outlook for business opportunity coupled with the continous calculator, working residently somewhere in the deep of your mind
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Create New Businesses
Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies
After the course • Basic competences acquired• Insight into the knowledgebased
entrepreneurial culture• Relations to pre-seed venture capital developed
You earned your wings Now try if they can bear
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
Create New Businesses
Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies
After the course
Greenhouse+The university business incubatorThe ”Flight Simulator”• Facilities• Mentoring• Networks
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
The COURSE PLAN - 1
1. lecture: 7 September 2006• Presentations• Introduction to the course• Entrepreneurial basics 1.
2. lecture: 14 September 2006• Entrepreneurial basics 2.• Meet your team
3. lecture: 21 September 2006• Opportunity-driven creativity
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
The COURSE PLAN - 2
4. lecture: 28 September 2006• Start-up strategies in high-tech venturing• Business planning• Case: Dorte Wiene, Connect Denmark
5. lecture: 4 October 2006• Business law by Erik Nyborg, cand.jur.
6. lecture: 12 October 2006• Budgets
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
The COURSE PLAN - 3After Autumn leave
7. lecture: 26 October 2006• Financing 1: Mapping the landscape• Financing 2: Pre-seed and Early stage
8. lecture: 2 November 2006• Financing 2 cont. Venture Capital Case• Financing 3: calculations in VC investment
9. lecture: 16 November 2006• Business management
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
The COURSE PLAN - 410. lecture: 16 November 2006• Market analysis • A case (TBD)
11. lecture: 23 November 2006• Sales and marketing
12. lecture: 30 November 2006• IPR strategies for start-ups
13. lecture, 7 December 2006• Exams• Exit: entrepreneurship in the history of ideas
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
MATERIALS
• Business Start-up for Knowledge based Entrepreneurs.
• Overheads: Hand-outs • The DTU Student’s Guide to the
Entrepreneurial Course. (The Course Manual)• Start-up Handbook (McKinsey)
All items are available at the course sitewww.entrepreneur.dk and CampusNet.
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
WORK PLANReference is made to the Course Manual
Kick-off: Week 37 Team formed. 14 September
1. milestone: Week 40 Product /business concept OK 5 October
2. milestone Week 43 Market research finalised 26 October
Deadline: Week 48 Business plan completed 30 November
Institut for Produktion og LedelseDanmarks Tekniske Universitet
John Heebøll
VÆKSTHUS+
BREAK!