Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Wellcome to COURSE 42435Knowledgebased Entrepreneurship 2006

Entrepreneurship is "the process of looking at things in such a way that possible solutions to problems and perceived needs may evolve in venturing."

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Agenda

Presentation of YOU

Our guests to day:

IDEA Anne Kirketerp Linstad

Venturecup Torsten Kolind

Steffen G. Brandenhoff

Our mentor program Christian Hauch

The Course

The Entrepreneur

Entrepreneurship: succes & failure

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

To Do List

Fill out your personal ID form

Submit it to John Heebøll

- today, 7 Sept.

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

PRESENTATION5 sec. each. 10 sec. at a max.• Name• Specialties• How many years in further education?• If intl. student: from where?• If visitor: why here – and from where ?• Any particular message to the audience ?

Take notes if you would invite the presenter

to join your team – or be part

of hers/his

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

PRESENTATION

IDEA and Anne Kirketerp Linstad

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

PRESENTATION

Christian HauchM.Sc. (DTU 1994), MBA11years experience with business- and product-development:Head of department, Greenwood Engineering (measuring equipment).Project manager Nokia.Associate professor, IPL, Greenhouse+

Phone: +45 4525 4675SKYPE: christianhauchCell: +45 6062 7235Mail: hauch@ipl.dtu.dk

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

The Mentor Program

Mentors will be assigned to each team – on requestUse them for advice on building you business plan. In particular to get over the hurdles of selecting a business idea, defining a business model and the final trimming of the business plan.

Mentors are:John Heebøll and Christian Hauch from Væksthus+Investment managers from DTU-InnovationExternal mentors

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

PRESENTATION

The Venturecup!

www.venturecup.dk

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

TIME OUT

Get your personal ID form

Fill it out

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Agenda - 2

Presentation of the Course• The Teacher• Does entrepreneurship matter • Mission Statement• Methodology• Course Plan• Textbook and Materials• Work Plan

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

The Teacher• M.Sc. CE. DTH, 1974• Mil. service, Research Dept.• VIP, DTH, 1976 – 1988• DTU Incubator 1988 – 2000• DTU Innovation 2000 – 2004• Ass. prof., IPL, 1992 ->

• CEO, Gastrotechnology, 2004 -> 2006• Boardmember, app 15 Start-ups• Chairman, Swantec ApS• Boardmember, Image Metrology A/S, GPT• Own company:

Danish Product Development ApS

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

The Importance of Entrepreneurship

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Do We need more entrepreneurs?The Global Entrepreneurship Monitor GEM says YESVariation in rates of entrepreneurship may account for as much as one-third of the variation in economic growth

Best Countries: 15% of New Companies Start growing rapidly

Denmark: 5% of New Companies expand

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Do We need more Entrepreneurs ?

YES! They make our industry more robust• New industrialized nations take over classic industry• Large companies do incremental innovation. Radical

break-through is the entrepreneur’s turf• New knowledge and technology in an increasingly

global marketplace creates ever more sophisticated business opportunities – waiting for the skilled entrepreneur.

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Does it Matter what a Uni does?

• One in four faculty involved in technology venturing

• 5.000+ companies founded by graduates and faculty since 1861

• Employees at MIT– companies > 1.000.000

• Sales of MIT- companies > $250 Billion/yr

• If a nation: 24th largest in the world

Massachusetts Institute of Technology

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Does it matter what a university does?Technical University of Denmark

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Alltogether: entrepreneurship makes a lot of sense – and now to

THE COURSE

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Rationale

High Tech Venturing is a complex, demanding and interdisciplinary process.

Succes depends on multiple competencies, networks, advanced technical knowledge, business experience

Multiple Competencies Education and Training

Networks Group work, Venture

Cup

Business experience Mentor program

Go out and do it!

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Objectives• Qualify your interest in business start-up• Learn how to start a company• Study experiences• Train methods and principles =Solid applicable competencies• Develop business talent: learn to see the

business opportunity – learn to capture it.• Develop some self confidence: You can do it!• Create new companies

Business start-up takes a qualified decision

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Evoke the Entrepreneur

Evoke the Entrepreneur Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies

• The Near-Entrepreneurial Experience• Introduction to a Working Life• Develop trust in own competencies• Get inspiration from successfull entrepreneurs

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Learn How to Start and run a Company

Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies

Subjects covered:• Basic experiences and practicalities• Creativity and new business ideas• Business models and start-up strategies• Business planning• Marketing economics• Financing• Business administration• Business law• Intellectual property rights• Management

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Study experiences

Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies

Case Stories:• Entrepreneurs• Consultants• Investors

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Train Methods and Principles - 1

Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies

Project-oriented Group Work• Opportunity-driven Creativity• Pre-analysis• Information research• Information analysis• Business model development• Business Planning• Presentation & Pitching

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Train Methods and Principles - 2

Business Development• Ideas• Pre-analysis• Information research• Information analysis• Business model development• Business Planning• Presentation & Pitching

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Qualify Your Capabilities

Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies

• Realistic perception of opportunities• Qualifying your basis of decision• Develop specific self-confidence• Make a qualified decision

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Develop your networks

Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies

• Meet new people – in the group – and outside• Start working with them in a start-up context• Meet some of the players within financing and

consultancy• Meet your customers – your jury!

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Develop your business talent

Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies

Get to know your marketplace• Find out what can be sold and what not• Develop your capacity for sensing business

opportunities• Develop ”the silent merchant”: the continous

outlook for business opportunity coupled with the continous calculator, working residently somewhere in the deep of your mind

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Create New Businesses

Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies

After the course • Basic competences acquired• Insight into the knowledgebased

entrepreneurial culture• Relations to pre-seed venture capital developed

You earned your wings Now try if they can bear

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Create New Businesses

Evoke interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies

After the course

Greenhouse+The university business incubatorThe ”Flight Simulator”• Facilities• Mentoring• Networks

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

The COURSE PLAN - 1

1. lecture: 7 September 2006• Presentations• Introduction to the course• Entrepreneurial basics 1.

2. lecture: 14 September 2006• Entrepreneurial basics 2.• Meet your team

3. lecture: 21 September 2006• Opportunity-driven creativity

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

The COURSE PLAN - 2

4. lecture: 28 September 2006• Start-up strategies in high-tech venturing• Business planning• Case: Dorte Wiene, Connect Denmark

5. lecture: 4 October 2006• Business law by Erik Nyborg, cand.jur.

6. lecture: 12 October 2006• Budgets

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

The COURSE PLAN - 3After Autumn leave

7. lecture: 26 October 2006• Financing 1: Mapping the landscape• Financing 2: Pre-seed and Early stage

8. lecture: 2 November 2006• Financing 2 cont. Venture Capital Case• Financing 3: calculations in VC investment

9. lecture: 16 November 2006• Business management

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

The COURSE PLAN - 410. lecture: 16 November 2006• Market analysis • A case (TBD)

11. lecture: 23 November 2006• Sales and marketing

12. lecture: 30 November 2006• IPR strategies for start-ups

13. lecture, 7 December 2006• Exams• Exit: entrepreneurship in the history of ideas

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

MATERIALS

• Business Start-up for Knowledge based Entrepreneurs.

• Overheads: Hand-outs • The DTU Student’s Guide to the

Entrepreneurial Course. (The Course Manual)• Start-up Handbook (McKinsey)

All items are available at the course sitewww.entrepreneur.dk and CampusNet.

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

WORK PLANReference is made to the Course Manual

Kick-off: Week 37 Team formed. 14 September

1. milestone: Week 40 Product /business concept OK 5 October

2. milestone Week 43 Market research finalised 26 October

Deadline: Week 48 Business plan completed 30 November

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

BREAK!