Embed Size (px)
Startup SaunaBuilding world-class start-ups
Aalto Venture GarageVille Simola
Key success factors
Key Success Factors
Culture of venturing from grass roots: Aaltoes,
meaning that we have best students and researchers interested to a) start b) work on startups
Key Success Factors
Ideas and teams coming not only from Aalto
or rest of Finland but from whole Baltics and Nordics: only way to get good enough people and ideas
experienced serial entrepreneurs with international
success and failures as coaches to work with the selected startups from very beginning: our coaches
Key Success Factors
Key Success Factors
Exposure for the best startups to real markets, competitors, investors and specially to culture of doing business: 3- 4 months in the valley, in future Israel and china
Startup Sauna
The Concept
General• Development concept with intensive work-out sessions and active coaching• Duration 6 weeks for Startup Sauna including remote sessions, 1 day for the
local Startup Sauna warmups• Executed with the mix of AVG coaches and local/regional certified coaches• Intense Business Development, not just education
Goal• To create a launch-pad for new start-ups aiming for global high-growth• To bring together all parties needed (VC´s, entrepreneurs, scientists and
corporations) to produce new ground-breaking innovations
Certified Coach Profile• Successful execution of one or more high-growth start-ups• Raised more than 10 M€ of VC funding or executed an 5x -exit
8 02.01.08
The Process
GROWTH-ORIENTED BUSINESS BUILDER
PotentialEvaluation
DEVELOPMENT ACCESS
BusinessLaunch
Market AccessDealflowGeneration
ANALYSISACTIVATION
StartUp Sauna(1 day)
The Startup SaunaIntense(6 weeks)
Startup SaunaGlobal
(3-6 months)
TTO´sES´s
Activation for the ecosystem
• Active Promotion of Growth Entrepreneurship
• Events (Aalto ES Fair, Garage 48 etc.)
• Promotion and PR
Business Potential Analysis
• Executed regionally (rapid analysis and development)
• Focus on market potential and access
• Pitching Competition• Best teams to The
Helsinki
Growth Preparation• Initial funding• Market Entry• Business Model• Team
Transformation• International
networks
Growth execution• 3-6 months• Intensive cooperation
with STVP and other partners TBD
• Remote periods (e.g. in Silicon Valley) with intensive market penetration
The Value Creation
DEVELOPMENT PROCESS 18-36 months
ConceptDevelopment
Idea Commercialization
GrowthEnablement
EarlyGrowthIdea
INNOVATIONACTIVATION
The local Startup Saunas
(1 day)
AVGThe Startup Sauna
(6 weeks)
Vigos(12-24 months)
VC´sUniver-sity ES´s
Idea management• Innovation
disclosure management as required by the law
• Fostering the growth business ecosystem
• New programs for growth entrepreneurship education and research
Business Potential Analysis
• “Venture Cups” regionally (rapid analysis and development)
• Focus on market potential and access
• Team analysis and competence gaps
Business building and development
• 2 annually• Customer exposure• Team Building• Business model(s)• Cooperation with
FFI (LTO)• Partners (STVP etc)
used for international market access
Growth Preparation• Initial funding• Market Entry• Team
Transformation• International
networks
Growth execution• Seed and growth
funding• Market Access• VC business model
ACCELERATION INVESTMENTENTHUSIASM
Warmup events
Hub of the Baltic Region
12 02.01.08
The Startup Sauna Cities and Schedules
Finland• Turku 16.3.2011• Oulu 23.3.2011• Tampere 24.3.2011• Helsinki/Espoo 12.4.2011
13 02.01.08
The Baltic Rim• St Petersburg 4.4.2011• Moscow 6.4.2011• Stockholm 8.4.2011• Riga 15.4.2011
The Start-Up Sauna Intense 2.5-17.6
Startup Sauna warmup schedule
Time Topic Hosted By
10.00 Welcome Ville Simola, AVG
10.15 Introduction to Startup Sauna: What is takes to build a great start-up
Juha Ruohonen, AVG
11.00 Networking Break
11.15 First pitches and feedback from coaches Teams and Coaches
12.15 Lunch Break
13.15 One-to-one with the coaches Teams and Coaches
16.00 Final Pitches Teams
17.00 Winners and networking Ville Simola, AVG
14 02.01.08
Startup Sauna Intensive
The Startup SaunaIntensive
Customer Exposure
BusinessPotential
ExpansionPlan
Business Concept
Week 1
Definition of the business concept
• Customer problem or market challenge
• Solution description• Value generation
and monetization• Business model and
resourcing
Customer Exposure• Intro to prospects• Feedback analysis• Business concept
iteration• Value proposal
definition
Business Potential Analysis
• Market Info• Remote Period /
business visits• Business concept
iteration• Business
Potential Analysis
Expansion Plan• Business Concept
Finalization• Feedback from the
market• Business concept
iteration• Key Financials and
funding plan• Demo Day
Problem
Solu
tion
Value
Bus Model
Week 2-3
Intro
Feed
back
Iteration
Customer
ValueCustom
er Value
Week 4
Market Info
Visit
Iteration
Business PotentialBusiness Potential
Week 5-6
Business Concept
Feed
back
Iteration
Demo Day
Working Mode
• Intensive • 2-3 sessions per week, occasional week-end• Customer exposure• One-to-one with coaches• Lots of pitching• Team effort• Execution• Demo Day
• And lots of fun!
18 02.01.08
• What it takes!• Advise• Insight• Views
• Team• Network• International
• New Ideas• New Concepts• New Partners
What do the teams get?
• Concept Presentation
• Executive Summary
• Financial Model
Have Faith!
Chutzpah (ISR)
“Gall, brazen nerve, effrontery, incredible guts, presumption plus arrogance such as no other word or language can do justice”
SISU (FIN)
“Special strength and stubborn determination to continue and overcome in the moment of adversity. It's a combination of stamina, courage, and obstinacy held in reserve for hard times.”
19 17.3.2011
Contacts
Ville [email protected]+358 44 070 0520www.aaltovg.com
Juha [email protected]+358 40 3511892www.aaltovg.com
