Aalto University, Finland Promoting Academic Entrepreneurship and Supporting Innovative Startups! Marika Paakkala

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1 Aalto University, Finland Promoting Academic Entrepreneurship and Supporting Innovative Startups! Marika Paakkala San Sebastian

2 In Finland 2010: Three leading universities in their own fields became Aalto University! University of Art and Design Helsinki Helsinki School of Economics Helsinki University of Technology

3 Fostering entrepreneurship ecosystem Aalto Start-up Center 80 companies in acceleration/ 32 high growth Small Business Center Training for entrepreneurs Corporate partners Complementary Parties Coaches EIT ICT Labs EIT Nodes & partners in Europe AppCampus 2500 submissions reviewed in 18 mths 150 Investment decisions made 30 Applications launched, running rate apps per month Startup Sauna companies in acceleration / year 20 million Euros raised 30 students trained with internships SLUSH Established as the leading Start-Up event in Europe AaltoES 9000 community members 100 activists Annually 8000 participates events Aalto Center for Entrepreneurship Around 200 innovation proposals/year -> companies ->15-20 patent applications Aalto Ventures Program Problem based learning program to foster entrepreneurial mindset and skills Co-operation with Stanford Research & Education

Sauna 30-40 companies in acceleration / year 20 million Euros raised 30 students trained with internships SLUSH Established as the leading Start-Up event in Europe AaltoES 9000 community members 100

4 Aalto Factories Innovation in action Design Factory Media Factory Service Factory Environments and ecosystems for learning, research and co-creation Students Researchers Companies Unicef Audi efm Washtec Carvajal Biolan Comnet Kesko Coreorient Ensto Ericsson GE Helsinki Kone Konecranes USP Locomotec Metso MetsäWood NetMedi Nextim Nordic Hug Philips Society e.g. Urban Mill RAY Sako Wärtsilä Rovio Qonsalt Chemical Industry Federation Fluid NSF Storaenso Introdex Unicef Toyota VWG Strong global interest and expanding presence

Ericsson GE Helsinki Kone Konecranes USP Locomotec Metso MetsäWood NetMedi Nextim Nordic Hug

5 Aalto University School of Business Leading the Way SMALL BUSINESS CENTER Adding value through Entrepreneurship and SME development

6 Small Business Center Activities since 1980 Finland: Helsinki and Mikkeli > Russia: St. Petersburg > Estonia: Tallinn >

8 Accelerate your business in Aalto Start-Up Center! Business incubator founded in 1997 Providing business acceleration services for companies which are seeking for rapid growth and success 25% of all applicants are selected ( ~ 250 appl. /year) Max 3 year-old start-ups mainly from ICT and knowledge intensive services and creative industries Clusters: HR, Health care, Software development, Game industry, Mobile solutions, Fashion and design, travelling 80 growth start-ups with innovative and scalable business idea! ~ Have a team of 3, aged years, 80% academic background VC investments in 50 + companies

9 Start-ups will be quided through the first challenging years Find and test the right business model Begin the customer development process Secure the funding Find the right business contacts Co-operate with other growth companies

customer development process Secure the funding Find the

10 A P P L I C A T I O N S E L E C T I O N Enter accelerator To apply for the accelerator: - Business idea with growth potential - Existing company and business plan - Application through Aalto Start-Up Center s web pages - Decision within one week after all necessary material has been sent Aalto Start-Up Center service portfolio Info sessions & High quality training - Training and information events form various areas of business Business coaching Workshops & face to face clinics Development program O yrs. Business modeling -Modeling of company s business -Strategic alternatives, policies and focus points - Definition of customer value, competition field and supply - Ensuring funding Modern Facilities - Furnished premises, Office Suite, conference rooms, private Intranet and broadband Sales program Sales action plan Networking and development - Events with other entrepreneurs and stakeholders - Development- and coaching programs - Cornerstones of sales - Defining purchasing criteria - Tailored sales action plan - Practical sales training Business mentors & Investors - A broad and experienced network of business professionals and investors Growth program Business coaching Workshops & face to face clinics 3 yrs. Ensuring continuation of growth - Managing growth stage - Defining genuine competitive advantage - Securing necessary resources - Planning of growth-driven financing

events form various areas of business Business coaching Workshops & face to face clinics Development program O yrs.

11 Financing partners The client has to receive the right kind of service at the right time, always keeping productivity in mind. The best way to do this is by systematically and closely collaborating with partners. A good example of this is our twice yearly organized business clinic, where ELY Center, Start-Up Center and the new customer team of Tekes jointly assist start-ups. It s a way for the companies to concentrate on creating a basis for successful business and future R&D, instead of e.g. their Tekes-funding application. ANNE TURULA, Tekes

A good example of this is our twice yearly organized business clinic, where ELY Center, Start-Up Center and the new customer team of

12 Corporate partners Aalto University is an important partner for us, and collaboration with Aalto Start- Up Center is a natural part of our partnership. Our goal is to find innovations and start-ups close to our field of business, as well as establish contacts with the future generation of innovators. MARJA-LEENA TUOMOLA, Sanoma News ja Sanoma Media Fi n l a n d

Our goal is to find innovations and start-ups close to our field of business, as well as

13 Partners providing business development support based on their own expertice We started our co-operation with Aalto Start-Up Center in the spring of 2010 because we want to help young companies understand the value of copyrights and trademarks for future business success. Too many Finnish companies make technological and brand losses due to lacking know-how in this area. It s important for Finnish commerce as a whole that the immaterial rights of companies are sufficiently taken care of. MARKKU SIMMELVUO, Papula-Nevinpat Together with Aalto Start-Up Center we strive to assist new companies with international ambitions in their initial phases. We want to impart some of our legal know-how and perspective to the entrepreneurs, so that they may accomplish their goals. In short, we want to do our part in creating new Finnish success stories. JUKKA KALLIO, Kalliolaw Asianajotoimisto Oy (Legal company)

It s important for Finnish commerce as a whole that the immaterial rights of companies are sufficiently taken care of.

14 Aalto Start-Up Center Alumni survey results (2012) Target group: Over 300 alumni companies 107 participated the survey >85 % still up and running 28% of companies are fast growers (=Gazell companies) Revenue growth rate was 98% *) Gazelle company = turn over more than , annual growth more than 25% and they are doing profitable business

fast growers (=Gazell companies) Revenue growth rate 2010 2011 was 98% *) Gazelle

16 Cross-border activities focused on Student, Business and University level Softlanding services and joint events for entrepreneurs Collobaration between incubators/accelerators and their managers Entrepreneurial education programs (crosstraining) for teachers and students Developing of new trainings, methods, tools and platforms University - Startup company activities - St. Petersburg State Financial and Economic University: Marketing research for finnish startups Joint projects in Baltic Sea region - Bestagers +55 project (Poland, Italy, Germany, Turkey) - FinEst, StartSmart. Smedge Search for investors: Seedforum, PitchHelsinki, Demo Days Benchmarking trips Sharing good practices

platforms University - Startup company activities - St.

17 What is needed to construct an effective entrepreneurship ecosystem? People and teams with high ambition, motivation, and growth orientation scalabtle, market seeking ventures Infrastructure and access to capital Human capital and entrepreneurial culture Educational instiutions including universities, Entrepreneurship training, Role models: successful businesses, Learning from mistakes Financial capital Informal: Angel investors, friends and family, Formal: Private equity and venture capital, Debt Support from business community 2014 Markku Virtanen

capital Human capital and entrepreneurial culture Educational instiutions including universities, Entrepreneurship training, Role models:

18 How the ecosystem of Aalto evolved? Small Business Center, established in 1980 Aalto Start-up Center, established in 1997 Entrepreneurship as a major in School of Business in 1980 s Entrepreneurship in Helsinki University of Technology in 1980 s Aalto Entrepreneurship Society in 2009 Student community trickering factor for start-up boom in Finland Generated Start-up Sauna and Slush conference 2014 Markku Virtanen

as a major in School of Business in 1980 s Entrepreneurship in Helsinki University of Technology in

19 Entrepreneurial ecosystem in Helsinki region Supporting startups focusing on different development phases

20 Contributions of Business incubator - some examples - For tenants Domestic and international networks created since 1997 add value to the businesses Connection to university / SBC organised three stage training program Business Mentor network Modern facilities For society Pre-screening for partners and investors Post-incubation gazelles born in incubator are high impact firms Post-incubation firms of ASUC have created about 2000 jobs (2011) Support from public sources and sponsors 0,5 M euros / year ->price of the created job for the society 8000 euros per job 2013 Markku Virtanen

Pre-screening for partners and investors Post-incubation gazelles born in incubator are high impact firms Post-incubation firms of ASUC have

21 Real cases and Spin-offs from Aalto University

22 Thank you for your attention! Ms. Marika Paakkala Head, Aalto Start-Up Center GSM Website Twitter Facebook

Aalto University. Small Business Center. Arabus Business Incubator. www.start-upcenter.fi www.pienyrityskeskus.aalto.fi

Aalto University. Small Business Center. Arabus Business Incubator. www.start-upcenter.fi www.pienyrityskeskus.aalto.fi Aalto University Merging the three leading universities in Finland ACE Aalto Centre for Entrepreneurship Small Business Center Under the Aalto University School of Economics SME business education programmes