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Juha ruohonen 2011 05-30
- 1. Governments and start-upsKiss of Death? Juha Ruohonen
- 3. VC
- 8. R&D Funding Creates Growth
- 9. VC Funding Creates Growth
- 10. Patent is an Outcome
- 11. Patent is a Sunk Cost
- 12. Business Plan is needed for Business
- 13. No Business Plan Survives First Contact With Customer
- 14. You Need a Plan?
- 15. You Need a Pivot
- 16. Comparison
- 17. Research vs. Business Development
- 19. Tax Breaks vs. Other Incentives
- 21. Conclusion
- 23. Startup Entrepreneurship is a State of Mind
Notas do Editor
- Advising governments on growth companies, ecosystem and VC funding
- VC for 5 years investing in early-stage ICT companies
- Growth entrepreneur by heartSeveral VC funded start-upsHelping others at AVG
- Several Myths… and the reality
- “Give me money and all problems will go away”Most government initiatives around funding… so it must be true
- Real shortage is experienced serial entrepreneurs, networks and market access… either as C-level employees or investors
- R&D funding by government is a good investment? Is it?
- According to research VC and angel funding is the only type of funding creating growth (Lerner & Gompers)No R&D funding 1xPublic R&D funding 1,5xVC funding and R&D funding 4xSo R&D funding alone does not create growth
- Patents seen as a primary outcome of a successful development projectPatents are major components of success…
- Without business potential and bus model, patents are just a sunk costBusiness Model can also be licensingBusiness case should be defined BEFORE a decision to protect IPRPatent is a good start… not much more
- Business planning is essential for business development and to get funding
- Process of developing a quick concept description is valuable, outcome really is not…Why try figuring out what customers want at your own desk, ASK THEM!
- All EU funding is based on a plan - business plan or project planNo plan, no fundingStart today, finish after 18-24 months. WAY TOO SLOW
- Start-ups do not plan, they pivotPlan a little, try it outCome back, iterate, try it out…If it just does not fly, fail fastIF YOU WANT TO PLAN, WORK FOR CORPORATIONSEverything happens fast… except in Europe
- Research is seen as the primary value generator is the EU – plenty of funding availableEntrepreneurship is teached by professors in the EU, by entrepreneurs in the USIn the most successful startup regions, bus development and growth companies are the value generatorsLimited funding available for bus development in EU
- Direct vs. indirect intervention by the governmentEU direct, company/project angle. PLANISR and SIN indirect, ecosystem angle. PIVOT
- Tax breaks for investors, companies etc vs. Real ecosystem incentives by the government (Yozma etc)
- If you do not dare to fail, you do not dare to tryISR, US – ok to fail. If you do not fail…EU – not ok to fail. If you fail…
- System approach (government driven) works for corporations. PLANS and ProjectsStart-ups need ecosystem approach (market driven). Angels and VC´s. PIVOT