why creating a start-up makes sense? taiex moldova - june 2013
DESCRIPTION
During this conference in Chisinau (Capital of Moldova) I shared my vision and experience on why start-ups make sense for any economy and how success rates can be upgraded by effective incubation programs. In this workshop we also brainstormed about how the performance of incubation can be measured real-time! Our audience in Chisinau came from government, academia, incubation, finance and business. I was honored to be invited by TAIEX (European Technical Assistance bureau) to come over and share my experience. It was my first time there and hope it won't be my last time.TRANSCRIPT
Creating Start-upsand framing it in the incubator
Pim de BokxChairman DIA – Dutch Incubation Association
Initiator of Pioneerz Partnership
Pim de Bokx
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– Entrepreneur since my 20th
– Several companies and organisations founded – Education in Landscape architecture and Business Science– Started private BViT innovation network in 2000 with 2
partners and 1 VC, developing 6 incubators over time: Delft, Rotterdam, The Hague, Amsterdam, Den Helder, Noordwijk.
– Developer XLX game based entrepreneurship training.– Chairman DIA (Dutch Incubation Association) – Owner of Huygens-XC, Expertise Centre on
Entrepreneurship Development and Business Incubation.– Founder Pioneerz Partnership to enable the
PioneersSociety: “managing the risk to dramatically improve”
3PIONEERZ
History of Incubation in NL
1948: Wholesale building Rotterdam>> development business centers all over the country
(now more than 400)1986: Business Technology Centre of University Twente
>> development of thematic incubators all over the country like Twinning (ICT) and Biopartner.
2000: BViT founded to develop a network of incubators2000: Newconomy (private incubator) goes IPO.2004: Gorillapark bankrupt; last private incubator to go
bankrupt (except BViT incubators). 2006: New law on higher education and launch of government
programme to stimulate universities to develop incubators.4
Typology Dutch Incubation Industry 20123d generation / focus Nr. Remarks
Design/Creative 10
High-Tech 8
Aero&Space 2 Noordwijk, Noordoostpolder
Medic/Biotech/Life Science 8
Internet/IT/media 9
Sustainable/Cleantech 4
General/mix 10
TOTAL 51
Dutch Incubators Abroad 2 Silicon Valley, Hong Kong
Softlanding service 3 Noordwijk, Almere, Delft
Corporate 2 Philips, DSM
University Owned 18
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(c) Pim de Bokx, Taipei, 15-11-2011 7
Creating Start-upsand framing it in the incubator
Entry Policy & Start Incubation
Attract Projects Capital Formation
Shout Human Capital
Scout Intellectual Capital
Screen Social Capital
Select Financial Capital
Attract & Match
Attract Projects
Shout
Scout
Screen
Select
Match Projects
Entry Policy
Incubation Support
Exit Policy
Resources
Business Incubation Program
• Entry Policy: objective, target group, target Enterprise stage, target technology/discipline, target sectors, target ROI, etc.
• Incubation support: Entrepreneurial BI-team, cliënt or partner or development project? Focus on Entrepreneurial Team development, opportunity management/risk-management and market exposure.
• Exit Policy: demand performance, create exit = launch to ‘normal’ market, celebrate succes
• Resources: not unlimited, seeking efficiency, shared facilities, price vs. value mismatch.
Attract
• Shout: communicate the entrepreneurial achievement, communicate success, attract Iconic entrepreneurs to the board
• Scout: entrepreneurship days, open day/events, university education, guest colleges; get to know the potential talent
• Screen: organize idea competitions, innovation challenges, technology quests; to find potential product concepts
• Select: best possible entrepreneurial initiatives which fit your entry policy, incubation services, resources, exit outlook.
Startup Creation
Capital Formation
Human Capital
Intellectual Capital
Social Capital
Financial Capital
Kick-off Incubation
Incubation Contract
Business Planning
Foundation Support
Settle-in Support
Kick-off Incubation
• Incubation Contract: purpose of the cooperation, targets, rights & duties, pricing, valuations, use of resources, invoicing, liability, secrecy (NDA)
• Business Planning & Monitoring: establish operational plan, install monitoring and evaluation
• Foundation Support: support effective Capital Formation (legal, financial, notary, IP, fiscal) don’t forget to value Human Capital and Social Capital
• Settle-in Support: company registration, plug & play office, house rules, introduction to incubatees, mentors and network.
Capital Formation
• Human Capital: a startup’s most valuable asset, mostly forgotten.
• Intellectual Capital: Patents, Technology license, copyright, brands
• Social Capital: suppliers, family & friends, launching customers, crucial partners
• Financial Capital: founders equity, family debt, suppliers credit, customer pre-payments, subsidies/grants
Creating Start-upsand framing it in the incubator
Measuring Incubation Performance
Measuring Incubation Performance
• Measuring is learning NOT knowing• Selecting is valuing• Sharing is multiplying• Demanding progress is learning success• Towards ‘investment readiness’• Prerequisite for Quality Management• Eminent to create and keep support from
various stakeholders
Enterprise Development Model
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ORIENTATIE PERCEPTIE CONCEPTIE INCUBATIE INTRODUCTIE PROMOTIE EXPLOITATIE INNOVATIE
Ontwikkeling Ontwikkeling Ontwikkeling Ontwikkeling Ontwikkeling Ontwikkeling Ontwikkeling OntwikkelingVAKmanschap Techniek Toepassing Product Markt Organisatie Financien Vernieuwing
observatie idee concept/principe plan+prototypeEXIT -2 EXIT -1
EXIT 0 EXIT 1 introductie EXIT 2 groei EXIT 3 EXIT 4 EXIT 5Productieklaar Product marktontwikkeling diversificatie volwassen vernieuwing
break-even marktacceptatie
Business Concept Business Startup PlanProductontwikkelplan Marketingplanning
ONDERNEMEN PROJECT START GROEI
ondernemer draagt zorg voor de marktontwikkeling maar laat de verdere commercie over aan …
ondernemer bouwt een marktgerichte onderneming op en verkoopt die.
ondernemer bouwt een rendabel bedrijf op en verkoop (een deel) van het bedrijf.
ondernemer splitst zijn bedrijf, (ver-)koopt delen, investeert in vernieuwing
student rond af met het idee dat zelfstandig ondernemerschap wel/niet iets is voor hem/haar.
onderzoeker rond af met de conclusie dat er wel/niet toepassingsmogelijkheden zijn.
pre-starter rond af met een plan waarin de zakelijke potentie van het te ontwikkelen product blijkt.
starter ontwikkeld product en laat de marktintroductie over aan anderen.
marktintroductie begeleiden, markttoegang helpen, productieproces opzetten
organisatie helpen opbouwen, leren managen, marktexposure vergroten
selecteren pmc's met grootste exposure/rendement ratio en cashgenerators
vernieuwen cashgenerators, zoeken nieuwe sterren, afbouwen slecht renderende zaken
training & assessment mensen
research & evaluatie ideeen om nieuwe technieken/processen toe te passen
teambuilding&kansen assess.Resources vindenprototyping
productdevelopment, projectmanagement, testomgeving
product en commercialisatie-plan worden getoetsd op kwaliteit en financierbaarheid
na een succesvolle marktintroductie en een goed financierbaar organisatieplan …
na het verwerven van substantieel marktaandeel een behoorlijke marge …
na het realiseren van een behoorlijk rendement en het in beeld krijgen van de levenscyli …
student wordt geworven via voorlichting, curriculum en activiteiten.
onderzoeker wordt bewust gemaakt van de mogelijkheden van ondernemerschap.
persoon en concept worden getoetsd op commerciele potentie/ ond skills
persoon, plan, prototype toets risico's en kwaliteiten, eerste klant/investeerder
incubator
Innovation factory
Thank YouIng. P.M. (Pim) de Bokx BSc.CPO of Pioneerz Partnership+31(0)654 247 268+31(88)[email protected]://nl.linkedin.com/in/pimdebokx
Partnerships• DIA (Dutch Incubation Association),• EBN/Quality Auditor EBN• ESA Business Incubation Centres• GNBI (Global Network of Business Incubation)