Klaus Woltron

© MINAS 2011

Innovation Start up Business angels

Klaus Woltron

© MINAS 2011

Innovation

Some highlights

Traditional approach

Creative approach

Solution

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What is Innovation?

A combination of known elements in a principle new manner

A new solution for an old – or new- problem

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Evolution and innovation

Nature gives many examples for innovation

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Driving forces of innovation

• Play instinct: Discovery by accident

• Emergencies and necessities: Pressure to survive

• Perfection of existing procedures: Pressure by competition

• Planned research and development: Systematic product development

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Basic innovations and business cycles

  1. (1800 – 1850) Steam engine, Cotton

  2. (1850 – 1900) Steel, Railway

3. (1900 – 1950)  Electro, chemical,

  4. (1950 – 1990) Oil, cars

5. (1990 – 20XX) IT, communication tech.

  6. (20XX – 20YY) Personal needs, environment, resources

(Kondratiew/ Nefiodov)

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Driving force sustainability

Montag, 7. J anuar 20024

Umweltpreis 2001

Ökoeffizienz

More welfare for all, with less use of nature is the goal (see Fig. 1);

Fig. 1 time

‘welfare’

‘use of nature’

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Promising areas of innovation

• Smart energy and transportation

• Information technology

• Materials and nanotechnology

• Biotech and nutrition

• Cross sciences:

Environmental technologies,

Resource efficiency

Social sciences

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Innovation is one of the most important keys to success

Innovativeness Rating: Based on America’s Most Admired Corporations, Fortune Magazine ranking of 578 U.S. companies based on executive peer ratings and investment analyst evaluations. Source: Arthur D.Little , 2005

Average Shareholder Return vs. Innovativeness Rating

Average Annual Shareholder Return 1986-96

Innovativeness Rating

-20%

-10%

0%

10%

20%

30%

40%

50%

60%

3,00 4,00 5,00 6,00 7,00 8,00 9,00

"Top management's commitment to and focus on increasing its organization's innovative ability could lead to significant bottom line result over and above typical costcutting and re-engineering initiatives"

Source: ADL innovation survey

Klaus Woltron

© MINAS 2011

The biotope of start - ups

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© MINAS 2011The situation of young entrepreneurs

YoungInspired and excitedFull of good ideas

•Inexperienced•Specialized•Poor financed

Filled with the courage of ignorance

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The way to success: Evaluate your biotope

•Look into the market

•Look to the competition

•Analyze the financial demand

•Ask your partner

•Ask experienced people

•Look for a business angel

•Look for the best people

•Look for subsidies and financial partners

Look into your mind: Are you strong enough?

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Function and advantages of a business angel

• Experience in founding and developing a company

• Large business network

• Assistance in funding and financing

• Assistance in search for partners

• Assistance in marketing and distribution

• Credibility respective banks and equity partners

• Assistance and help in critical situations

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© MINAS 2011The universal rule

The Start – up period lasts three times longer and costs in minimum twice as much as planned before.

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© MINAS 2011How to fail certainly

• Start immediately after having „the great idea“

• Take big debts and guarantees

• Contemn possible corresponding and competing ideas

• Contemn the ado of elaborating a business plan

• Rent a big office, employ two secretaries

and buy a big corporate car front- end

• Feel as the one and only in the field

• Do everything alone

• Do not listen to experienced people

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© MINAS 2011How to succeed

Follow the remarks given before

• Do not expect immediate success

• Expect hard competition

• Be tough when the whole thing seems to fail.

• Be careful regarding your family life,

watch out not to have private additional trouble

• Believe in yourself.

There are not only backlashes but, sometimes,

also lucky incidents

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…… Thanks for your attention!

THINK !