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How incubation and acceleration programmes (can) increase your chances of growing and scaling
Experiences, best practices and recommendations from an entrepreneurial perspective
Benno Groosman MScBAwww.groosman.info
July 3, 2015UNconvention.eu in Brussels
IntroductionBenno Groosman MScBA• MSc Entrepreneurship & New Business Venturing
• 10 years entrepreneur
• Involved in multiple startups and experience in multiple incubators and accelerators
• Award winning health care company with 3 international patents and multiple products, €1.4M funding and… a bankruptcy
Now:
• Director Base pre-incubation programme at Maastricht University
• Cofounder Surge-on Medical: patented innovations for (knee) surgery www.groosman.info
IntroductionAgenda1. Definitions and background
2. My startup and incubation
3. Five accelerators I work(ed) with
4. Success factors
5. What to look for in an incubator?
6. Questions
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IntroductionYou?
•Entrepreneur, policy maker, other?•What do you want to learn in this hour?
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1. Definitions and scopeBusiness incubator“An organization designed to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services that could include physical space, capital, coaching, common services, and networking connections.
A business incubator’s main goal is to produce successful firms that will leave the program financially viable and freestanding.”
Robert C. MagGregor (2007), Small Business Clustering Technologies: : Applications in Marketing, Management, IT and Economics , Idea Group Inc.
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1. Definitions and scopeSeed accelerator“Seed accelerators are fixed-term, cohort-based programs, that include mentorship and educational components and culminate in a public pitch event or demo day.”
Susan Cohen (2013), What Do Accelerators Do? Insights from Incubators and Angels, MIT Press Journals.
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1. Definitions and scope
• The terms incubator and accelerator are being mixed regularly
• We now have incubators with acceleration programmes or accelerators with incubation spaces
• I will be using these terms interchangeably in this presentation for the above reasons
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2. Salusion and startup processRole of university accelerationA number of universities contributed to the startup of my company Salusion:
education, inspiration, funding and incubation.
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2. Salusion and startup processResults during incubation• €1.400.000,- total funding
• 3 products, 3 international patents
• 7 large institutional customers
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3. Your input
•What should an incubator/accelerator offer?
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3. Five incubators/accelerators I worked withWhich is a small selection….
“There are probably about 7,000 incubators worldwide. The incubation model has been adapted to meet a variety of needs, from fostering commercialization of university technologies to increasing employment in economically distressed communities to serving as an investment vehicle.”
source: www.startupmanufactory.com
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3. YES!Delft (the Netherlands)Technology incubator• Close collaboration with
Delft University of Technology
• Expanding network and partnerships for funding and startup services
• Space for >80 startups and a complete package meeting rooms, auditorium, co-working hall, etc.)
• Structured education programs for entrepreneurs and students
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3. YES!Delft (the Netherlands)Early and late stage• Offering fixed-term
entrepreneurship programs (like Launch Lab), also open for large companies and individuals
• Start construction of extra building for growth companies (post-incubation), to keep talent and companies in the YES!Delft ecosystem
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3. SEED (Belo Horizonte, Brazil)New accelerator• Accelerator open for
startups from all the world
• Startup selection, funding (no equity), mandatory 5 month program, ends with Demo Day
• 37 startups is first round
• SEED organization is a large team of government and private contractors
• Focus on customer development (inspired by “lean startup”) www.groosman.info
3. SEED (Brazil)New accelerator• 40 startups in second round
• 73 total in a 6 month start
• Some foreign startups stay in Brazil, with visa support government and funding of local angel/VC investors
• Intention to follow up for at least two more rounds of startups, but programme is closed now
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3. Rubik’s LogicenterMy roadmap to incubation
Figure 1: Startup generation roadmap in 6 steps (source: Benno Groosman)
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3. Rubik’s LogicenterMy accelerated roadmap to incubation
Figure 3: Adapted fast-track startup generation roadmap in 5 steps (source: Benno Groosman)
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3. LaunchBaseMy Base pre-incubation programme
• Base: pre-incubation• Individuals or groups• No idea or startup needed• 5-month inspiration and activation
programme• 24 months pilot: 4 rounds
• Launch: incubator• Opening: October 2015• 18 months pilot www.groosman.info
3. LaunchBase MaastrichtMy Base pre-incubation programme
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3. LaunchBase MaastrichtMy Base pre-incubation programme
Early stage talent selection and venture creation:
• Weekly lectures from experts (25 topics)
• Weekly networking
• Mentoring and coaching
• Free consultancy from experts
• Special activation days: design, pitching, funding, etc.
• Access to co-working space
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4. Success factorsDiscussion
• Which factors make a successful incubator/accelerator?
• How to define this success?
5. What to look for in an incubator?Discussion
• What are the needs of your startup?
• Could an incubator/accelerator fulfill these needs?
5. What to look for in an incubator?Some suggestions
• Match the focus of the incubator with your startup’s goals and needs
• Check for a relevant network of mentors, experts and investors
• Chose a location close to your customers and key-partners or in a new (geographical) market you want to open
• In case the accelerator takes shares: could you get this money for better terms from an investor and simply buy the services?
• In case of tech startup: access to university patents and support
6. Questions and discussion
Thanks for your attention!Please feel free to contact me
Benno Groosman MScBA
Phone: +31 6 1253 2039
Email: [email protected]
Website: www.groosman.info
Twitter:www.twitter.com/Benno_Groosman
Slideshare:www.slideshare.net/benno_groosman
