Can a Nation Create Entrepreneurs Part 2
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The document discusses how entrepreneurship can be encouraged at a national level. It notes that in the US between 1980-2005, all net new employment came from companies less than 5 years old. It also discusses some of the challenges facing entrepreneurs like access to funding. The document advocates telling entrepreneurs' stories to help build business communities and networks where entrepreneurs can share knowledge and inspire each other.
Can a Nation Create Entrepreneurs Part 2
- 1. CAN A NATION CREATE ENTREPRENEURS? - AN ENTREPRENEUR’S JOURNEY
- 2. Innovation, Expansion & Scotland a happy mix? Growing a business in Scotland today 15 minutes romp through years of work in Innovation and Economic Development Joe Pacitti- Powerwall Space Frame Systems
- 3. What is happening in Business? The accelerating pace of global change & emerging global markets is a reality A demand for increasingly sophisticated, integrated & connected products Short-termism & Shareholder pressures The reality of OEM “Global Downsizing” & greater focus on “core products & services” The “realisation-gap” between Ideas and real market opportunities either remains constant or is widening ?
- 4. To Survive in the New Age……… Shorter product life cycles- mean more product development/improvement Achieve shorter & shorter “Time to Market” development timelines The need to understand & handle convergent technologies (increased demands for sophistication) ......Innovation is the key
- 5. Innovation Drivers Problem Solving Convergence /Cross-technology Applications Accidents/Opportunities Collaboration
- 6. Innovation through Collaboration You can influence Connections Generate and engineer introductions Opportunities Accidents Collaborations
- 7. Collaboration, Innovation & Business Growth - one method ! Stays with MNC capacity to develop 10 to 15% Product Market Corporate MNCs 30% of use IP SMEs to partnering Product IP within SME available to partner Expert Team Consultants / Academics Academia
- 8. Simple Concept ! Academia SMEs MNCs Intermediaries Finance, Advisors
- 9. We have a Simple Concept ! Get the organisations together Academia Find common SMEs areas to work MNCs on … Intermediaries Finance, Advisors Collaboration Projects We act as the glue ?
- 10. Opportunity Formation Process Briefing in more Detail to all interested Companies Refinement of Check propensity to collaborate opportunity and Of companies shortlist Final collaborative group New Products Validation Launch Refinement Concept Develop opportunities Events/Workshops Wider Company base
- 11. Is there a Structure to this..? Frog Kissing However you don’t want to kiss ugly frogs do you? So it might be a good idea to have the skills to separate out the good- looking from the ugly! or you will need to do a bit of cosmetic surgery
- 12. Key Words: experts Key Words: personal collaboration energy communication creative trading zones people orientated mental models determination expertise ………………………. knowledge capabilities accidents convergent serendipity commercialise risk-taking innovative Frog Dating Agency latent or orphan IP asset sweating
- 14. Types of Innovation Steady State Often exhibited by well organised global companies Over time can get predictable, competition can catch up Lower Risk Lower returns Disruptive Smaller more innovative companies (SMEs & Start ups) External funders looking for good bets Higher Risk Higher Return
- 15. 20 16 Innovation Index 12 8 4 0 1 5 10 15 20 25 Time Steady State
- 16. 16 12 Innovation Index 8 4 0 1 5 10 15 20 25 Time Disruptive
- 17. Combine the 2 types through collaboration 20 16 Innovation Index 12 8 4 0 1 5 10 15 20 25 Time Steady State Disruptive
- 18. Convergent Technologies “Technologies such as connections between the brain and machines, wearable health monitors, smart houses made of environment-sensitive materials are not science fiction anymore, but are scientifically feasible. It is very likely that these technologies will emerge in the next 20 years. However some convergent technologies are already hitting the marketplace, among these are optical micro-electromechanical systems (MEMS). Convergence promises to transform existing technologies into lucrative commercial endeavors, and many companies are investing heavily in research and development (R&D). Business and industry are already beginning to restructure themselves, as network-based organizations follow fundamentally new management principles” Technical Insights - a unit of Frost & Sullivan
- 19. Convergence & Collaboration “Converging technologies will require collaboration across disciplines. A good metaphor for such collaborations is the kind of trading zone that emerges whenever human beings from different cultures interact. We must avoid trading zones that are dominated by one discipline or set of interests, and instead encourage multiple stakeholders to form a shared mental model of what needs to be accomplished.” MICHAEL E. GORMAN Division of Technology Culture & Communications School of Engineering and Applied Science, University of Virginia , USA
- 20. Convergence & FUNDING "Most high-tech VCs concentrate on one of three areas: information technology (IT), life science or materials. What we're seeing most interesting at Alameda Capital are those products based on a convergence of two or all three of these disciplines, say materials for use within IT. Convergence technologies promise to be extremely powerful, especially given the advances in nano- and micro-scale technologies. Companies are creating and investing in new materials with different structural and functional properties from anything previously known. The ultimate goal of this approach is deliberate and intelligent manipulation of atoms and molecules so that the resulting structure has desired properties and functions at the macro level." Because these convergence technologies are so multidisciplinary, it is difficult for competitors to "get the formula right" and duplicate any development. This means intellectual property can be more easily protected ,that's very important to us." M. Norman Wu, managing director of Alameda Capital, a $100 million early-stage fund focused on convergence technologies
- 21. Examples
- 22. Burton and Apple Burton Snowboards and Apple® created a wearable electronic jacket with an integrated iPod™ control system The Burton Amp jacket uses SOFTswitch™ technology, allowing the iPod to be controlled via a control pad on the sleeve It is made with GORE-TEX three-layer fabric, and is waterproof, seam-taped and machine washable Priced at $499
- 23. Adidas Adidas says it has created the world's first "smart shoe“, called “1”, by mating it with a computer chip that adapts its cushioning level to a runner's size and stride • "This is the first intelligent shoe ever," said Erich Stamminger, global marketing director for Adidas. "It senses, understands and adapts.“ • Priced at $250
- 24. Adidas The chip is implanted in the arch of the sole and is capable of making 5 million calculations per second to adjust the heel cushioning depending on the runner's size and stride • The microprocessor is located in the arch of the shoe, and drives a tiny screw and cable system that adjusts the heel cushion depending on the signals sent back by an electric sensor coupled to a magnet • It is powered by a battery that conserves power by adjusting the shoe while it is in the air during a runner's stride, avoiding resistance from the ground
- 25. Powerwall Story Driver - to find a better and improved construction process Results/Offering •Greener – 60% less energy in construction, reduced waste – heating bill £70/year •Faster - 40% to 50% time reduction in build •Better Quality – 10 to 15% improvement over current standards •Cost benefit – 10% to 15% over site construction
- 26. The Powerwall Volumetric Process Frame Design Frame Fit Out Manufacture Erect & Finish Transport Internal Fit Out Construction for the 21st Century
- 27. Questions & Discussion
- 28. CAN A NATION CREATE ENTREPRENEURS? - AN ENTREPRENEUR’S JOURNEY
- 29. Sandy Finlayson MBM Commercial LLP
- 30. In America between 1980 and 2005 net new employment from companies more than 5 years old: ZERO Net new employment from companies less than 5 years old: 40,000,000
- 31. • Pre crisis - £40/£45 Billion • Post crisis - £35/£40 Billion (PWC) • Scottish Loan Fund - £90 Million
- 32. In 2009:- • VC Investment in Europe = 20% of America (Ernst & Young) • Scotland gets 2% of UK VC Investment • Scottish Equity Risk Capital Report 2008 • £100 Million invested in Scotland • c/f $2.1 Billion in Israel • £789 Billion under management
- 33. • Scottish Co-Investment widely recognised as a model of best practice • Syndicated investment by Business Angels leads the UK • Archangels are one of the biggest Business Angel Syndicates in the World • Informatics Ventures • Technology Enterprise Centre • Bio Quarter
- 34. • Cash from Customers – Clever Contracts • Asset Finance • Cash-flow Finance • Crowd Funding • Peer-to-Peer Lending
- 35. • Savings and Credit Cards • Family, Friends and Fools • Business Angels • You need – Commitment and Determination – Clear Customer Focus – Prospects of Cash Generation – A really Good Plan – A Good Chairman – Contacts and Networks
- 36. CAN A NATION CREATE ENTREPRENEURS? - AN ENTREPRENEUR’S JOURNEY
- 37. Social before everything was social (but with a traditional kick-start!)
- 38. “I think Entrepreneurs are good enough and strong enough to look after themselves” Lord Kirkham Founder of DFS Extract from an interview available on:
- 39. The entrepreneurial revolution started 9 years ago in the North East – led by the great and the good, joined by ordinary people doing extraordinary things.
- 40. It was all about telling stories………..
- 42. Being an entrepreneur can be a lonely experience at times. Thankfully in the North East there’s a well established community. A ‘big society’.
- 43. It was all about telling stories The people behind the stories ‘started’ the community....
- 44. “Entrepreneurship teaches the rest of society a lot of good things about accountability, self- belief, working in teams, trust and leadership” Julie Meyer Ariadne Capital Online Dragon Extract from an interview available on:
- 45. It offers the opportunity to take advantage of a huge wealth of knowledge within the community – there’s always someone who has been where you want to go.
- 46. It was all about telling stories The people behind the stories ‘started’ the community.... Those people knew how to do stuff.......and did it.....
- 48. And just by doing what they do, everyone can inspire those who aspire to follow in the footsteps of those who have been there, done that and got the t-shirt.
- 49. It was all about telling stories The people behind the stories ‘started’ the community.... Those people knew how to do stuff.......and did it..... Lots more people wanted to tell their stories.....
- 50. “Talk to people who have been through the experience, they can often just point you in the direction of others but it will fast track your progression.’” Graeme Lowdon Nomad Digital EF Board Member
- 51. It offers the chance to talk to people who have been through the experience - even if they just point people in the direction of others it will fast track their progress.
- 52. It was all about telling stories The people behind the stories ‘started’ the community.... Those people knew how to do stuff.......and did it..... Lots more people wanted to tell their stories..... And meet people......they just weren’t always sure who?...
- 53. It inspires those with aspiration at all levels to extend their ambition by exposing them to those who have turned their vision into reality.
- 54. It’s essential to create and build on communities within communities to find common interests and actions. It’s about understanding the value of links and looking beyond boundaries.
- 55. It’s an upward journey and one that everyone takes step by step as far as they can – but it needs to be stimulated and nurtured. It’s about encouraging and developing self-reliance.
- 56. Be inspired. Get Connected. Tap into knowledge. Share your experience.
- 59. =