Learning to walk as
entrepreneurs in your day jobKyrre Riksen, Investment Manager
Telenor GBDR, New Business
Oslo, 12 September 2009
Gründerskolen
Learn to takerisks
in a
controlledenvironment
Today’s pitch to you
It all started with a
Seed proposal on our desks
5% banked among 140 millon people
We saw the tip of the
Iceberg
100% mobile coverage
300 ATMs in major cities
Less than300.000 credit cards
The ideal ground
to redefine building blocks
The Future of
Banking?
BillPay RetailerTravel Time: 5 mins
Travel Cost: Tk. 0-5
Queue Time: 0 min
Customer’s
Location
BillPay Locations
Bank’s LocationTravel Time: 15-60 mins
Travel Cost: Tk. 20-80
Queue Time: 30-150 mins
We fixedFrictions
Bill number
209378382,
amount
Taka 312 has
been paid.
Thank you
Tk
PDB
Step 1: Customer gets electronic notification with bill
Step 2: Presents bill to a channel
Step 3: Channel credits account using mobile phone, takes cash, issues receipt
Tk
Customer with a mobile
Step 4: Customer gets notification that bill has beenpaid
Link to video: http://www.youtube.com/watch?v=QZ9aMoq-ZSI
Tk
PDB
Step 1: Customer gets bill from PDB
Step 2: Presents bill to a channel
Step 3: Channel credits account using mobile phone, takes cash, issues receipt
Customer without a mobile
Link to video: http://www.youtube.com/watch?v=QZ9aMoq-ZSI
Thousands of BillPay outlets
Open from 9 am to 9 pm everyday
Easy tracking via SMS or call center
Stringent validity screening
Instant payment acknowledgement & accounts update
Convenience
Simplicity
Reliability
Trust
Transparency
Selling points
Presentation and hand-over to Mobile Management Board(MMB)
May 2007
Group Executive Management (GEM) presentationApril 2007
Executive Lead appointed and Global Project formalizedwith DTAC, DiGi, Grameenphone, Telenor Pakistan, Telenor Serbia & Kyivstar
May 2007
Global Knowledge Group initiated with 30 members from Norway, Hungary, Ukraine, Thailand, Malaysia, Pakistan & Bangladesh
Mar 2007
Launch of BillPay in BangladeshDec 2006
Pakistan project & foreign remittance project initiatedSep 2006
Positive decision to GO ahead with Implementation projectFeb 2006
Feasibility study approved & initiatedDec 2005
Opportunity identifiedDec 2004
MilestonesDates
7 Innovationtactics
Identify winningpeople& ideas
Via boundarylessmatchmaking
•10 markets scanned•First 1 BIG idea inBangladesh, then”snowball” effect
•Entrepreneurial talentrecruited locally•Matched with globalsupport team mappingglobally
•First, launch in Bangladesh•Then, team recruited in Pakistan &project kick-off• Leads in Thailand, Malaysia, & Serbia identified & prepared
•Global sharing group w/ 7 countries•Remittance project kick-off•Hand-over to Corporate Management May 2007 for expansion, ”Top-Down” process
2004 2005 2006 2007
Acquire the
Licenseto Kill
By mobilizing talents
bottom-up•Visionary dialoguesw/Seed finalist•Local Management
on hold
•Cross functional assumptionstested locally at working level• Then, introduced to localManagement, later HQ/ Strategy
•100 processes designed, then ”license to launch”•Strategic discussions stimulated at HQ level in parallel, then supporting focus area established• License to launch in Pakistan, followed-up rest
•Global capabilities enabled•Hand over from Bottom-up•Top-down governanceprocess formalized May 07
2004 2005 2006 2007
Deepdivelocally
& secure the
Epicentrefor learning & growth
2004 2005 2006 2007
•First,boost of localhero•Not starting at the top• Develop the
entrepreneur
•Local project Manager w/ authority & entrepreneurial skills recruited. •Headhunted operational talent having a South African track record•We moved to Bangladesh
•Centre-of-Excellence leveraged for expansion, > 100 cross functionalprocesses quality assured• Top Management involvement
• Recruited sponsors, doers & ideapeople in Grameenphone. A base• Validated concept externally beforeinvesting in ”Centre-of-Excellence”
Demonstrate
Results
By investingin Entrepreneurial
Leadership•Mobile Money 2nd place in BangladeshiSeed 2004 contest
•Feasibility kick-off,Seed Capital, only USD 85.000, USD 149,300 for build-,design phase. Launch locallyfunded
•Offsite strategy campin Cox Bazar gives 1 team vision• BillPay launch Dec 2006• Pakistan kick off Sep 2006
•Global Sharing Group established•Remittance project staff funded•Hand-over & Executive Lead appointedfor top-down development
2004 2005 2006 2007
Prepare a
Growth
engine
By sharing
Best Practices
•Seed 2004 finalist initiated dialogues•Later backed up byfacts & best practice sharing
•Early quality assurance withexperts & future leads•Stimulated environment for achievements & risk taking
•First, created implementableopportunities at working level•Then, brought to stakeholders who added value.
•Knowledge Group Mar 2007•Remittance project fundingensured competencies used later•Hand-over to Management May 2007
2004 2005 2006 2007
Safeguardlocalinnovators
By driving fact based
Hypothesis testing•1 fundamental hypothesis defined & defended throughoutthe process
•Key principles slowly adopted by core business areas
•Key beliefs in feasibility Study approved by stakeholders
•The Team can focus on execution•Very little politics left•Predictable processes for all
2004 2005 2006 2007
Hand overthe project to Managementat the
time of
momentum•A big idea is bornbut is yet to get biggerwith stakeholders
•We have evidencefor the potential!• Team is in place
•Local CEO is finally on thehook•Then, Corporate Management
•Sister projects & Knowledge Group addcredibility to Management•Group Executive Management (GEM) & Mobile Management Board (MMB) presentations
2004 2005 2006 2007
Today’s pitch to you
Time
Individual pushing the idea
Peers and stakeholderssupporting idea
The market buys the idea
From idea to market development
My personal journey from Seed activity
to Business realityKyrre Riksen, Investment Manager
UMTS Forum at Lysaker, 28 October 2008
My personal journey from Seed activity
to Business realityKyrre Riksen, Investment Manager
UMTS Forum at Lysaker, 28 October 2008