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Entrepreneurship @ TecMinho June 2007

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Entrepreneurship

@ TecMinho

June 2007

What is entrepreneurship ?

Entrepreneurship is not only starting a company:

“Entrepreneurship is an attitude or approach to management or life that starts with opportunity; it is a framework with which to look at the world regardless of what you do in the world.”

(Carsrud, 2005)

Entrepreneurship is about seeing opportunities and bringing about change.

Entrepreneurship shapes our society

There is tremendous interest in entrepreneurship around the world

According to a recent GEM study, about 300 million people or 12.5% of the adults in the 40 countries surveyed, are involved in forming new businesses

Entrepreneurship comes in many shapes and forms in addition to starting your own company

Entrepreneurship

Academic entrepreneurship:

Three levels

Training and supporting entrepreneurship - starting new businesses spin-offs

Entrepreneurship - a subject itself

The entrepreneurial university - creation and maintenance of an enterprising culture

Academic entrepreneurship

Entrepreneurship at UMinho

Academic entrepreneurship at UMinho:

Three areas

Awareness raising

Networking

Spin-off support

Entrepreneurship at UMinho

Awareness raising Presentations delivered at different university

courses

Conferences on entrepreneurship

Entrepreneurship Fair

Invention competition “InventUminho”

Entrepreneurship at UMinho

Networking Establish a network of already existing entrepreneurs

Get to know the market

Get to know potential investors

Networking of spin-offs Bring together entrepreneurs, and entrepreneurs and

investors

Entrepreneurship at UMinho

Spin-off support Identification of ideas

Training the entrepreneur

Identification of needs

Supporting the venture (company creation)

ResearchProof of principle

FeasibilityProof of conceptMarket & Technology

PreparationMarket & Product

VentureProduction & Business Development

University University/Project Project/Company Company

Scouting Screening Support Participation and/or continued support Go on / No go

License /Spin-off

Spin-off Programme

Spin-off Programme

Entrepreneurs must have a link to the University of Minho:

teaching staff;

researchers;

under-graduation and post-graduation;

students;

recent graduates;

technical personnel.

Spin-off purpose:

High-tech and/or knowledge-based products or services obtained as a result of research developed at the University.

Spin-off Programme

“Graduate spin-offs”: created by students or alumni of the UMinho who wish to keep a link with the university.

“University spin-offs”: technology-based entrepreneurial projects that use know-how developed at the university. UMinho, through TecMinho, can own part of the shares of the future company. There is a know-how license agreement that assigns exclusivity to the spin-off in a given domain.

Spin-off Programme

Type of spin-off

“Campus company” phase: pre-incubation 1-3 years. Ideation (technology and market). Labs use, equipments, proof of concept mechanisms.

“Spin-out” phase: incubation: 1-3 years. Technology development and industrialisation. Formal establishment of the company. Support available from UMinho may be continued.

Spin-off Programme

Spin-off phases

“Start-up” phase. Company should have got all necessary means regarding self-sustainability. It can keep privileged relations with UMinho.

Spin-off Programme

Spin-off phases

UMinho’s spin-off advantages

University of Minho:− Scientific mentoring− Preferential access to technologies− Access to space, labs and equipment− Label “Spin-off of the University of Minho”

TecMinho:− National / international networking− Intellectual property support− Technology brokerage− Contacts for financing− Training courses (e.g. management, marketing) − Business management support

List of spin-offs at UMinho

Spin-off Field CreationBIOTEMPO Biotechnology May 2005

SIMBIENTE Environment May 2005

ULTRAVISIOGRAPH Medical devices June 2005

CPC Biotechnology September 2005

UBISIGN ICT September 2005

VINALIA Biotechnology November 2005

BYZYMO Biotechnology February 2006

EDIT VALUE Business Management March 2006

WIDECOLOUR Physics March 2006

PMINNOVATION Business Management May 2006

TECNOWAVE Civil Engineering May 2006

MICROPOLIS Polymer Engineering November 2006

SOMATICA Physics December 2006

SINERGEO Geology January 2007

GEOS Geology March 2007

Academic entrepreneurship

The dual approach

Quantity vs. Quality

Should the University support all ideas from potential entrepreneurs?

Should the University focus on the ideas with more potential for high growth?

Focus on quantity: support all ideas

Academic entrepreneurship

The dual approach

Focus on quality: mechanisms for identification of high potential ideas for customised support

IDEA

COMPANY

Academic entrepreneurship

Success factors in entrepreneurship support Use people that really understand the

entrepreneurial processes Create reward mechanisms Drive and engagement Satisfy real needs A strategic focus An anchored position Collaborative mindset Credibility and openness Long term commitment