Chalmers as an innovative and entrepreneurial university of

technology

Mats Lundqvist

• Founded in 1829• Located in Göteborg the second largest

city (500,000) in Sweden• 10,000 students and faculty• In 1836 it became a state institution• In 1994 Chalmers became a private

foundation again – the only private university of technology in Sweden

• In 1994 the technology-bridge foundation started as well as strategic research foundations

CHALMERSINVEST

Growth Company

Young Growth Company

Company start

Business plan

Business Idea

Patent Licensing

Idea

FINANCIAL MARKET

VENTURE CAPITAL

INNOVATIONSKAPITAL

CHALMERSINNOVATION

CHALMERS SCHOOL OF

ENTREPRENEURSHIP

NUTEK

LICENSING OFFICE

www.entrepreneur.chalmers.se

FIN

AN

CIN

GK

NO

W-H

OW

VENTURE CUP

From Idea to CompanyChalmersInnovation System

CHALMERSINVEST CONNECT

1998

Free research

Centers, consortia andpartnerships Preincubation

Seed financing

Incubation

Strategic IP

Contract research

Grants andscholarships

DiscoverIdentify

UtilizeCommercialize

ProductifyCommodify

2003An Expanded Innovation Process Perspective

BackgroundChalmers School of Entrepreneurship

since 1997

Inventor/researcher

Manager

?

Time

Size of venture

FallSpring

Strategy and market formation

Intellectual capital management

Entrepreneurialleadership

Business dynamics and financing

Business law Innovationseconomics

ESM

Innovation projectMaster thesis

School project

1,5 year at Chalmers School of Entrepreneurship1,5 year at Chalmers School of Entrepreneurship

Fall

MSc. in Innovation and EntrepreneurshipMSc. in Innovation and Entrepreneurship

School projet

Entrepreneurshipand Businessdevelopment

The admission process The admission process

•Written application

•Interviews with teachers

•Interviews with psychologists

•Tests

Academic merits Internal drive

CreativityCritical thinking

Ability to function in teams Establishes relationships

Right attitudeWillingness

PRE-INCUBATION PRE-INCUBATION –since2001-–since2001-

•Take a part of the value creation

•Improve the learning process

•Improve the commercialising process

Coaches

Business evaluation

Seed-financing

Reinforcement-financiering

Venture capital

Office

Infrastructure

Awaiting empty companies

Board of directors

Chairman

Rationale Idea-ProviderRationale Idea-Provider

In cooperation with Chalmers School of Entrepreneurship the commercialisation process is started in a constructive and controlled environment.

The projects are run with the presupposition and aim of being able to survive, expand and result in the formation of a viable company after the school year.

Low risk

Funding

Driving-force

INNOVATION PROJECTSINNOVATION PROJECTS

•Technology based

•Early stage

•In need of driving force

RESULTS 2002RESULTS 2002

• 5 out of 5 projects continue as

companies (3 biotech, 1 material

tech, 1 architecture)

• Students attracted approximately

180 kEuro during the year

• 3 projects won 30 kEuro (n=421)

• 3 projects from 2001 attracted VC

money

TENDERA

OXEON

REGLIA

PARANS

LAYERLAB

RESULT RESULT 1997-20021997-2002

* September, 2002** Added to this: 37 non-employed (consultants etc)

Students

Accumulated companies Employed

Valuation

(MSEK)

Turnover

(MSEK)

Venture Capital

(MSEK)

Soft Loans

(MSEK)

1997 12 1 - - - - -

1998 15 1 - - - - -

1999 18 3 17 43 3,8 9,6 2,9

2000 15 8 56 182 9,2 41,5 3,2

2001 22 15 74 347 33,7 19,8 6,5

2002* 16 18 114** 245 33,7 56,3 4,4

Total: 98 80,4 127,2 17,0

www.vehco.com

An example

Business idea

Vehco offers a unique IT-solution that controls and reduces costs for fleet owners.

Simplicity and low price gives all fleet owners the possibility.Unique technology makes it possible on all vehicles in the fleet.

Co-Driver - a telematics platform

1. A handheld computer is installed in the truck

3. Vehco produces data reports with conclusions and recommendations

2. Information is sent to Vehco over the mobile network

4. At the haulier’s office the reports are used for efficient follow-up

Product picturesVehicle Client Office Client

Project Vehco starts at Chalmers School of Entrepreneurship

Development initiated

Vehco project of the year in Sweden

Founders Students

Consultants

SIC and Proj.rådet400 kkr

Entreprenörskolanand VGR300 kkr

First external financing

Teknikbro-stiftelsen100 kkr

Sidoproduktklar för leverans

2001 2002

Chalmersinvest and private investor1.4 Mkr

Vehco becomes part of Chalmers Innovation

Launch on leading Swedish exhibition

First round of financing secured, 8 people employed

Summer workers

Pilot tests initiated

VGR650 kkr

Installation at first customer

2003

Second round of financing secured

Installation at more customers

COMMERCIAL PHASEDEVELOPMENT PHASE

DiscoverIdentify

UtilizeCommercialize

ProductifyCommodify

Chalmers TechnologyLicensing•Contract research•Strategic IP•IPR counselling•Etc

Center for IntellectualProperty studies•Research on IP, policies and models•IP training•Competence center•Seminars and conferences•Etc

Chalmers Innovation•Pre-incubator•Incubator•Competence center Incubation•Soft-loan node

Chalmers School of Entrepreneurship•Entrepreneurship training•Pre-incubator

Chalmersinvest•Seed financing

Innovationskapital•Venture capital

Venture Cup•Business plan competition

Connect West•Business angel network•Etc

Chalmers Innovation System 2003

Our core processes in our innovation system

Entrepreneurial spin-outs

Contract & consortia research

Strategic IP (early packaging)

• Chalmers strength

• Clarify claims• Enable commersialization

• Entrance ticket to research• Enable new industry in region

IVTS/Telematics

Digital modelling

Creative Industry

Biomedicin

Petro chemistry

Universitetsbaserat innovationssystem

Research Business

Etc.

Th

em

atic in

novatio

n sy

stem

s

Creative Industry

Biomedicine

Universitetsbaserat innovationssystem

Utiliza

tion

Etc.

Chalmers as an innovation engine

The entrepreneurial university…

• … not only teaches established ”truth” but also invites to knowledge creation and constructive learning

• …. not only communicates results and merits but also engages in the problems of the future

• … is not content only with publishing but wants to take responsibility for how knowledge is utilized in society

Learning

Utilization

Research