will cardwell laurea - jan 31 2012
DESCRIPTION
Presentation to Laurea Entrepreneurship SocietyTRANSCRIPT
Accelerating Entrepreneurship in a University Environment
Will CardwellAalto University Center for Entrepreneurship
www.ace.aalto.fi / [email protected]
Agenda
• What is ACE?• Short Case Study of Valimo Wireless• Five Points About Accelerating Growth• Aalto’s Building Blocks
– New Venture Formation• Questions
ACE Co-Creates Growth within theAalto Community
ACE Resources Aalto Community
ACE’s Resources
22 Core Team 5 EIRs, 30+ CoachesPeople
Process
Programs
Funding
ACE Competence Commercialization Process for screening and development
Stanford Partnership, Startup Sauna, Summer of Statrups, Startup Life
3.5 MEUR for Aalto2.2 MEUR from Tekes
Deal Flow
300 250 30 10
Licenses
Immaterial
Property
Rights
Innovation ‘fast track’
EvaluationProposal
Concept development
Validation
Back to community with feedback
10
550
21510
Directed to other supporting organizations
Start-ups
WHAT PUT US OVER THE TOP?
Roberto Carlos
HR AgilityFinnish Network
Reverse LearningFocused IP
WHAT HELD US BACK?Complex Ecosystem
Unproductive Partnerships
Distressed Customers
Dripfed Finance
Fragmented Technical Solutions
Uneducated Public
Small home market
The Case of Valimo Wireless
9 / 11
5 Necessary Ingredients
• Positive Energy and Initiative• T-Shaped People• Extreme Work / Internationalism• Transparency, Community and Pay it
Forward• Black Swan Thinking
The Aalto Startup Community1. Blaast Oy: Investments byVeturi Partners, Ambient Sound, and Steve Blank, launching mobile cloud application in southeast asian operators2. Eniram Ltd: Name fastest growing Greentech company in Deloitte fast 500, Fastest growing company in Finland3. Multi Touch Ltd: Launched worlds largest multiuser, multitouch display, announced 2m euro investment in August4. Remedy Entertainment Ltd: Death Rally highly successful on iOS, with 1.8 paid download.5. Senseg Ltd: Named on of Time Magazines 50 most important inventions (a portfolio company of Jussi and Moaffak’s Veturi Partners)6. Rovio: revenues reportedly rising from about 7m in 2010 to 70m in 2011, setting every possible growth and penetration record in mobile gaming, and showing how to branch into new medias and industries7. Nexstim: raised 13m euro in new financing, and a steady stream of newsflow regarding new results of Navigated Brain Stimulation8. Mendor Ltd: raised 8.1 million euro of VC financing, Red Herring 100 finalist9. Modz: raised a significant financing round, founder Salla Koski wins second prize among European woman inventors.10. Campalyst: Startup Sauna winner who went on to win of Seedcamp NY11. Scoopinion: winner of 250k Sanoma Foundation Innovation Award12. Flowdock: Announced $650k funding round of US investors and seed investors, including Mårten Mickos.13. Zokem: sold to US Nasdaq company Arbitron for 11m dollars (plus earnout)
Aalto’s Building Blocks
1. Aalto Ventures Program2. Summer of Startups3. Startup Sauna4. Out to the Community!
New Venture Formation Class
• Session 1 – Intro & opp assessment• Session 2 – Sales & Marketing• Session 3 – Customer discovery, go-to-market
– Gate I: Opportunity Assessment• Session 4 – Financial modeling• Session 5 – R&D• Session 6 – Financing
– Gate II: Operating Plan• Session 7 – Capitalization and example Gate 2• Session 8 – The VC presentation
– Final Presentation