seeda
TRANSCRIPT
Five ObjectivesFive Objectives
B2B Mentoring and networkingB2B Mentoring and networking Tailored Business SupportTailored Business Support Flexible WorkspaceFlexible Workspace Knowledge baseKnowledge base Early stage financeEarly stage finance
Hub ChampionsHub Champions Knowledge baseKnowledge base Flexible WorkspaceFlexible Workspace Hub DirectorHub Director
Four ComponentsFour Components
What are Hubs and Gateways?What are Hubs and Gateways?
Incubation networkIncubation network
Gateways and Hubs – What is the difference?Gateways and Hubs – What is the difference?
Hard to reach markets
Knowledge base
Enterprise GatewaysEnterprise Gateways
Hard to Reach Geographical AreasHard to Reach Geographical Areas Hard to reach communitiesHard to reach communities Business Link is the main partnerBusiness Link is the main partner Early days Early days Six gateways covering, rural, deprived Six gateways covering, rural, deprived
wards and, for one them, the black and wards and, for one them, the black and ethnic community in Slough.ethnic community in Slough.
Total South East SMEs 253,000
South East SMEs with < 20 employees 241,000
The Enterprise Hub Network potential market i.e.start up and early stage
South East knowledge-based SMEs < 20 employees
7,225
Target Enterprise Hub Network members (2007)
3,000
Who are the customers?Who are the customers?
The Enterprise Hub Network market share
Target Enterprise Hub Portfolio members (2007)300
Per hub
Venture Deals
Portfolio Members
Sign Posting
Network Members
Associate Members 250
100
50
15
3
Companies / Region
5 000
2 000
1 000
300
60
The Market / Year
Netw
ork Mem
bers
Portfolio M
embers
Why?Why?
““3-4% of start-ups in a given period account 3-4% of start-ups in a given period account for between 50% - 75% of for between 50% - 75% of allall jobs created 10 jobs created 10 years later”years later”
““Start-ups are responsible for 55% of Start-ups are responsible for 55% of incremental and 65% radical innovation”incremental and 65% radical innovation”
DTI Innovation Report 2003DTI Innovation Report 2003
Risk Value
Technical Market Business
Hubs Manage Companies Through Development Process
Idea Commercial Entity
The Commercialisation Process
What is The USP?What is The USP?
Economic FeasibilityBusiness PlanningFinancial supportTeam matching
Market needs assessmentMarket plansMarket valuationSales and DistributionMarket Diversification
Technical AnalysisTechnical FeasibilityPatent supportEngineering PrototypePre-production prototypeProduction Support
BusinessMarketTechnical
What is the regional value?What is the regional value?
What is the regional value?What is the regional value?
Will this product make a profit?Will it make sufficient returns to justify investment?Who are the management team?
Does the product have a market?Who will buy it?Have you made sales?Are you growing market share?
Is this product new?What will it cost to produce?Do you have a prototype?Do you own the IP?
BusinessMarketTechnical
Start up 15-50kBanks, family business angles
Start-up/early growth £50-150kBusiness Angels, Early Growth Fund, SMART,SGFL
Early Growth/2nd stage £150-500kRegional VC Fund, Business Angels (SGFL)
Follow-up funding £500k-£2mLimited Venture Capital
MBO/MBI, acquisitions £2m+Institutional VCs
The Regional Value: The Funding Escalator for SMEsThe Regional Value: The Funding Escalator for SMEs
Hub CompaniesHub Companies
Mesophotonics based at the Southampton Hub is utilising Photonic Crystal technology to satisfy the demanding requirements of 21st Century optical engineers. Spinox, part of the Newbury
Hub, is developing a spinning process to create high performance fibres from natural or artificial proteins based on the principles used by spiders and insects to create natural silk fibres
I-TRAK, based at the Surrey Hub is the world's first technically integrated airline compatible instant notification luggage tracking tag.
A Hub or Gateway In Every Part of the RegionA Hub or Gateway In Every Part of the Region
.Eastbourne
What is the Role of the Flexible Workspace?What is the Role of the Flexible Workspace?
Isle of Wight
Southampton Newbury
Solent
Flexible workspace vs Incubation SpaceFlexible workspace vs Incubation Space
Continuum
Flexible Workspace Incubators/Virtual incubators
Private Sector Private/Public Public
Regional Value?Regional Value?
Economies of ScaleEconomies of Scale Very, very leanVery, very lean Regional network of hub directors is the Regional network of hub directors is the
keykey CollaborationCollaboration More surface area to absorb best practiceMore surface area to absorb best practice
Where Next? Triple the Deal Flow By 2007Where Next? Triple the Deal Flow By 2007
5 000 associate subscribers5 000 associate subscribers 2 000 network members per annum2 000 network members per annum 300 portfolio members per annum300 portfolio members per annum 60 deals first round deals per year60 deals first round deals per year
How Should We Measure Ourselves?How Should We Measure Ourselves?
Significant Interventions by hub directors
Network membersActivity
Significant Interventions recorded by hub directors
Portfolio MembersActivity
Annual survey be research agency
Customer Satisfaction Survey
Outcome
Recorded by hub directors
New dealsOutcome
Recorded by hub directors
No of entrepreneurs ready to pitch for investment
Outcome
Accounting firm does audit
Equity GrowthImpact
MethodMeasureType