Innovative Venture Creation Process

Innovative Venture

Creation Process

1

/ the 7 steps

Idea Preseed Seed Startup Initial growth Expansion Restructuring

Idea

Ideation, research and networking

Gate: Idea Screening

Preseed

Does it work? IPR, partners, money, development

Gate: Preliminary Business Plan

Seed

Prototype, more money, contact customers, documentation

Gate: Product and evaluation of commercial potential

Startup

Market intro, production, organization, money

Gate: Market launch and organization that works

Growth

Expand capacity, money, improve product

Gate: Profitable business

Expansion

Restructure

IdeaIdeation

Research

Networking

Idea Description

Stagegate: Idea screening News Level of innovation Market potential Realisability Risks

5

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

6

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

7

SeedAdding resources Finance Knowledge

Prototype

Contact customers and partners

Documentation and presentation

Stage gate Product Evaluation of commercial potential

8

StartupMarket introduction

Establishing production

Organization Sales Production Board of directors

Developing new skills Sales Production Logistics Purchasing

9

Startup (2)

Raising finance

Stagegate: Organization & Market launch

Organization that works

Market launch organized

Agreements with sales channels

Potential customers found

Market introduction started

10

Initial GrowthRaising finance

Enhance production capacity

Expand sales activities

Hire more employees

Improve the product

Stagegate: Profitable business Positive cashflow Net profits

11

Expansion

12

Restructuring

Change in ownership

13