Representing Ireland’s Startup Sector

Growth & Innovation Through Embedding the Startup Mentality

Eoin Costello, Startup Ireland

Representing Ireland’s Startup Sector

Some of our projects include:

PreBudget SubmissionHelping provide an environment conducive to entrepreneurship 

Guides for StartupsWe provide a one-stop portal containing: • Guides for startups websites for each city (such as

www.startupdublin.ie, www.startupcork.ie etc.). • Infographics on over 150 resources available to startups in Ireland • A Linkedin Group of 5,000 members.• Twitter account of 10,000 followers.

Corporate2Startups Working GroupBetter linkages between the startup sector and the multinationals located in Ireland is essential to help cross fertilisation and to grow world class startups.

About Startup Ireland…

Representing Ireland’s Startup Sector

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Representing Ireland’s Startup Sector

Representing Ireland’s Startup Sector

CHANGE IS THEONLY CONSTANT

HeraclitusGreek Philospher

Representing Ireland’s Startup Sector

“Hard to make time for innovation due to day to day

time pressures.”

“Staff raided from our innovation team for internal

projects.”

Representing Ireland’s Startup Sector

Target GrowthCash streams to support the projected growth

Where will they come from?What role will innovation play?

}2010 2013 2015

Ideas Concepts Dev Launch

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Existing productssupplying existing cashstreams}

What happens to the Growth Aligned Pipeline?

Representing Ireland’s Startup Sector

Representing Ireland’s Startup Sector

Representing Ireland’s Startup Sector

Rank

2011 2010

Company R&D Spending

2011 $US Bil

Change from 2010

As % of Sales(Intensity)

1 6 Toyota 9.9 16.5% 4.2%

2 3 Novartis 9.6 5.5% 16.4%

3 1 Roche Holding 9.4 -2.1% 19.6%

4 2 Pfizer 9.1 -3.2% 13.5%

5 4 Microsoft 9.0 3.4% 12.9%

6 7 Samsung 9.0 13.9% 6.0%

7 5 Merck 8.5 -1.2% 17.6%

8 11 Intel 8.4 27.3% 15.5%

9 9 General Moters 8.1 15.7% 5.4%

10 8 Nokia 7.8 0% 14.5%

Representing Ireland’s Startup Sector

Company R&D Spending

2011 $US Bil

Rank As % of Sales(Intensity)

1 Apple 2.4 53 2.2%

2 Google 5.2 24 13.6%

3 3M 1.6 86 5.3%

4 Samsung 9.0 6 6.0%

5 GE 4.6 30 3.2%

6 Microsoft 9.0 5 12.9%

7 Toyota 9.9 1 4.2%

8 P&G 2.0 72 2.4%

9 IBM 6.3 17 5.9%

10 Amazon 2.9 48 6.1%

Representing Ireland’s Startup Sector

The 10 most innovative companies outperformed the top 10 spenders on R&D.

NORMALISEDPERFORMANCEOF INDUSTRYPEERS = 50

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GROWTH5-YR. CAGR

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MARKETCAP

GROWTH5YR. CAGR

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68 65 62

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Representing Ireland’s Startup Sector

A company’s financial performance and innovativeness does not

correlate with how much it spends on R&D but rather how well it

executes its innovation strategy.

Representing Ireland’s Startup Sector

5 Rules of Thumb from Startups

1. When change is afoot, the balance sheet must come second to the investment.

Representing Ireland’s Startup Sector

“A startup is a company designed to grow fast.” Paul Graham founder of Y-

Combinator

Vs“Corporate organisations are about profit

maximisation and risk minimisation.” Peter

Drucker

Representing Ireland’s Startup Sector

Organisational culture eats strategy for breakfast

Peter Drucker

Representing Ireland’s Startup Sector

5 Rules of Thumb from Startups

2. Make calculated risk taking core

to your company culture

Representing Ireland’s Startup Sector

Representing Ireland’s Startup Sector

Need the innovation team to be inclusive both within the

company and the community

Representing Ireland’s Startup Sector

5 Rules of Thumb from Startups

3. Do More with Less

Representing Ireland’s Startup Sector

When you're operating on a shoestring budget, there's motivation

to be highly resourceful.

Stay resource poor on projects creates more innovative solutions.

Representing Ireland’s Startup Sector

5 Rules of Thumb from Startups

3. Speed

Representing Ireland’s Startup Sector

“Move fast and break things.Unless you are breaking stuff,you are not moving fast

enough.” Mark Zuckerberg

Larger companies are often weighed down by complex layers and processes, especially

when it comes to new thinking or innovation.

Separating employees into silos compounds this problem.

Representing Ireland’s Startup Sector

5 Rules of Thumb from Startups

4. Network

Representing Ireland’s Startup Sector

By consistently seeking real-time customer feedback, and carrying out constant market

analysis, startups are able to identify trends in their earliest stages.

Network with

customers, suppliers,

competitiors and

partners.

Representing Ireland’s Startup Sector

5 Rules of Thumb from Startups

5. Stay close to startups in your sector

Representing Ireland’s Startup Sector

There are a number of ways to do this…..

Salesforce nabs another Y Comninatorstartup in email contact manager Etacts

Representing Ireland’s Startup Sector

Representing Ireland’s Startup Sector

These days big corporatesfrom Siemens to Coca-Colato Disney have a startupaccelerator program

Representing Ireland’s Startup Sector

Representing Ireland’s Startup Sector

What’s different about Wayra…

● All startups located within the parent company offices.

● Global acceleration model - part of an international network.

● Championed within the parent multinational Telefonica.

Growing Ireland’sStartup Community

www.startupireland.ie

@StartupIrelandEoin Killian Costello