The document outlines the 7 key steps in an innovative venture creation process: 1) Idea, 2) Preseed, 3) Seed, 4) Startup, 5) Initial Growth, 6) Expansion, and 7) Restructuring. Each step involves certain activities like prototyping, fundraising, hiring, and product development. Gates or stagegates are reached at the end of each step to evaluate commercial potential and organizational readiness before advancing to the next phase.

1. Innovative Venture
Creation Process
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2. / the 7 steps
Idea Preseed Seed Startup Initial growth Expansion Restructuring

3. • Ideation, research and networking
Idea • Gate: Idea Screening
• Does it work? IPR, partners, money, development
Preseed • Gate: Preliminary Business Plan
• Prototype, more money, contact customers, documentation
Seed • Gate: Product and evaluation of commercial potential

4. • Market intro, production, organization, money
Startup • Gate: Market launch and organization that works
• Expand capacity, money, improve product
Growth • Gate: Profitable business
Expansion
Restructure

5. Idea
Ideation
Research
Networking
Idea Description
Stagegate: Idea screening
– News
– Level of innovation
– Market potential
– Realisability
– Risks
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6. Pre-seed
Market potential?
– Customer
• Need/wish/pain
• Willingness to pay
– Market size
Technology
– Does it work
– IPR
• Ways to protect
• Offending IPR of others
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7. Pre-seed (2)
Partners
– Potential customers
– Suppliers
Funding
– Estimating requirements
Resources
– Other resource requirements?
Product development
Stagegate: Preliminary business plan
– Capital needs
– Need for other resources
– Patent needs and opportunities
– Technological challenges
– Market challenges
– Critical milestones
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8. Seed
Adding resources
– Finance
– Knowledge
Prototype
Contact customers and partners
Documentation and presentation
Stage gate
– Product
– Evaluation of commercial potential
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9. Startup
Market introduction
Establishing production
Organization
– Sales
– Production
– Board of directors
Developing new skills
– Sales
– Production
– Logistics
– Purchasing
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10. Startup (2)
Raising finance
Stagegate: Organization & Market launch
– Organization that works
– Market launch organized
• Agreements with sales channels
• Potential customers found
• Market introduction started
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11. Initial Growth
Raising finance
Enhance production capacity
Expand sales activities
Hire more employees
Improve the product
Stagegate: Profitable business
– Positive cashflow
– Net profits
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12. Expansion
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13. Restructuring
Change in ownership
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