Entrepreneurship in virtual worlds nov3

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Slides from Seminar on entrepreneurship in Virtual worlds in Nov 2011: http://nordicworlds.net/2011/10/31/seminar-on-entrepreneurship-in-virtual-worlds-november-3/.

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<ul><li> 1. Entrepreneurshipin Virtual WorldsNovember 2011www.nordicworlds.net</li></ul> <p> 2. Programme 10:30 Welcome and Presentation Virtual Worlds: Just a game or what? 11:00 Presentation of a Pan-Nordic Research Project Professor Robin Teigland (Stockholm School of Economics, UiA) presents the project NVWN - TheNordic Virtual Worlds NetworkShowcases 11:30 RunAlong Entrepreneur Heidi Harman presents her experiences with the running initiative, RunAlong inSecond Life 11:45 Virtex Founder Sverre Lune-Nielsen presents Virtex, a company developing software applications forinteractive data visualization 12:00 ICYou Group Project Manager Serdar Temiz presents ICYou, a company that develops interactive mediaplatforms 12:15 Lunch 3. Virtual Worlds: Just a game or what?Entrepreneurship in Virtual Worlds November 2011 4. ...when the rate of changeoutside an organization isgreater than the rate ofchange inside,the end is near......Jack Welch 5. Social Media Increase in integration and rapidly more interactivity Characterised by user participation, openness, andnetwork effects (Musser and OReilly, 2006)7 6. Social mediaDefinition Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user generated content (Kaplan &amp; Haenlein, 2011) 7. Drivers of changeInteractivity IncreasedDiGangi 2010 8. Types of Social MediaSocial Presence/ Media Richness LowMediumHighHigh BlogsSocial Networking Virtual Social SitesWorldsSelf-disclosurepresentation/Low Collaborative Content Virtual GameProjectsCommunities WorldsSelf-Shneor 2011, Kaplan &amp; Haenlein 2011 9. What are Virtual Worlds?Persistent, computer-simulated, 3D immersive environmentsShared space/interactivity with othersIn some cases, ability to manipulate/create content In some cases, virtual economy and currencyTeigland 2010 10. Tomorrows education?Mahaley &amp; Teigland 2009, http://bit.ly/rUMfcO 11. 3D Avatar SchoolFlten &amp; Hansen 2011 12. VWs moving out of Gartner Hype Cycle trough &gt;1.2 blnVirtual usersMay 2006WorldstodayJuly 2007http://www.gartner.com/it/page.jsp?id=1447613 Teigland 2011 13. 970 mln VW accounts under age 16http://www.slideshare.net/nicmitham/kzero-universe-q2-2011 Teigland 2011 14. Clearly, if social activity migrates tosynthetic worlds, economic activity will go there as well.Castronova, 2006Teigland 2011 15. Pay through PayPal and have delivered to any virtual world http://www.totalavatarshop.comTeigland 2011 16. US$ 635,000 for a virtual asteroid!US$ 500,000 profit in 5 years by Jon Neverdie Jacobs Entropia Universe with GDP&gt;US$ 440 mln http://blogs.forbes.com/oliverchiang/2010/11/13/meet-the-man-who-Teigland 2011just-made-a-cool-half-million-from-the-sale-of-virtual-property/ 17. HP rolls out virtual banking with Avayas Web.alivehttp://www.hypergridbusiness.com/2011/04/hp-rolls-out-virtual-banking-with-avayas-web-alive/ Teigland 2011 18. Virtual CollaborationMercks Global R&amp;DIBMs Innovation Jam Welch et al 2010 Teigland 2011 19. Increasing pace of VW/3Di developmentFor smart "Create Once, phones and Experiencetablet PCsEverywhere Expanding uses VWs onstickSeamlessnessBrowser-basedbetween VWs VWs/hyperlinked 3Dhttp://www.hypergridbusiness.com/2009/05/hypergrid-101-why-its-good-for-business/http://mediagrid.org/groups/technology/OFF.TWG/ Teigland 2011 20. 2http://www.slideshare.net/helgetenno/post-digital-marketing-2009 21. Moving into the Experience EconomyPine Jr. &amp; Gilmore 1998, 1999; DiGangi 2010 22. - Greater purchase intentState of flow - Positive brand attitudesHooker et al 2010, Teigland 2011 23. Armed with new connective tools, consumers want to interact and co-create value... Prahalad and Ramaswamy, 2003Slide from Kohler 2011 24. Exploring VW affordancesTeigland et al 2010 25. As soon as the Facebookgeneration wakes up andembraces virtual reality, we are going to see a giant wave ofvirtual world millionaires.Jon Neverdie JacobsTeigland 2011 26. SomeNordic players 27. International, multidisciplinary team Denmark, Finland, Iceland, Norway, Sweden, USA Academia, Industry, Public Sector Objectives To explore how entrepreneurs and SMEs can use VWsto improve competitiveness To create a Virtual Center for VW Entrepreneurship &amp;Innovation March 2010 to February 2012 28. Two primary levels of investigation User business Using a virtual world forbusiness purposes Platform business Providing a platformfor a virtual world 29. A spectrum of business virtuality Virtuality Fully realFully virtual NO activities ALL activitiesconducted in-conducted in-world world 30. A spectrum of business virtuality Virtuality Fully realFully virtual NO activities ALL activitiesconducted in-conducted in-world world 31. VWs as tool for RL firms for design, training,. 32. and co-creation 35Kohler, Teigland, Giovacchini 2010 33. A spectrum of business virtuality Virtuality Fully realFully virtual NO activities ALL activitiesconducted in-conducted in-world world 34. Lifestyle BeautyMagazinePageantBOSL ModelShopping Agency&amp; COMallModellingAuditoriumAcademyWeb Radio Lindqvist 2011 35. Event DJsbuildersMODELLING MODELLING Photo SCHOOLS studioAGENCIES makersPhoto- Modelling graphersTop furniture models MAGAZINES VirtualPoses andanimations fashionecosystem Clothes/Furniture shoes AccessoriesSkins HairBody ShopbuildersshapesViachka, Giovacchini, Teigland, Lindqvist 2011 36. But few firms span the RL/VW boundary Virtuality Fully realFully virtual NO activities ALL activitiesconducted in-conducted in-world world 37. Why? DifferentconsumerLack of groups economies of scale? between economies of scope?RL &amp; VW https://marketplace.secondlife.com/p/MG-Dungeon-Lord-black-male-coat-outfit-by-Marlene/1447251 38. Two primary levels of investigationUser businessUsing a virtual world for business purposesPlatform businessProviding a platform for a virtual world 39. Opposing forces:Current business modelslimit overall VW industry growth VWplatformSMEsprovidersNeed forseamlessnessClosedbetween VWsbusiness models 40. Income Model Income model 41. RL entrepreneurs keeping out.The modeling and simulationtechnology is crapIm not going to risk my money and time.. 42. But it is only a matter of time.ODriscoll 2009 43. Open source VW platforms growing OurBricks 44. Charities bridging RL/VW boundary Members Core teamMeetings $$Teigland 2010 45. Fashion industry leading the way.... Entertainment moremeaningful than real life Meaningful interactions between real people creates real value Fashion allowsfor self-identificationand is driver foreconomic valueEyjlfur Gumundsson, CCP Games, 2011 46. Stardoll launches JC Penney clothes linehttp://socialtimes.com/stardoll-online-fashion-community-launches-jc-penney-clothes-line_b38360 47. 970 mln VW accounts under age 16http://www.slideshare.net/nicmitham/kzero-universe-q2-2011 48. My 10 year old cousin is addicted toStardoll and doesnt see why I like Facebook since I can only read whatother people send me. For her it is justnatural for all her friends to be moving around the Stardoll website.- Masters Student atStockholm School of Economics 49. Tomorrows international entrepreneurs? 50. The rise of Avapreneurs and Born Virtuals?Avapreneur = Avatar + entrepreneurLeveraging global reach Microemployees and pro-ams Global markets and local market knowledgeChallenging multinational corporations traditional resource advantage?Teigland 2010 51. Pine Jr. &amp; Gilmore 1998, 1999; DiGangi 2010 52. From the mobility of goodsto the mobility of financial capital to ...the mobility of labor? 53. We aint seen nothin yet!Karinda RhodePhoto: Lindholm, Metroaka Robin Teiglandrobin.teigland@hhs.sePhoto:Nordenskild www.knowledgenetworking.org www.slideshare.net/eteiglandwww.nordicworlds.netRobinTeiglandPhoto: Lindqvist 54. Programme 10:30 Welcome and Presentation Virtual Worlds: Just a game or what? 11:00 Presentation of a Pan-Nordic Research Project Professor Robin Teigland (Stockholm School of Economics, UiA) presents the project NVWN - TheNordic Virtual Worlds NetworkShowcases 11:30 RunAlong Entrepreneur Heidi Harman presents her experiences with the running initiative, RunAlong inSecond Life 11:45 Virtex Founder Sverre Lune-Nielsen presents Virtex, a company developing software applications forinteractive data visualization 12:00 ICYou Group Project Manager Serdar Temiz presents ICYou, a company that develops interactive mediaplatforms 12:15 Lunch </p>