Entrepreneurship and Innovation: Getting it Right and Making it Real

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Lucy Reeves
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1 Entrepreneurship and Innovation: Getting it Right and Making it Real By M. Andriolo and Mario Farias DAY 4 Universitá di Verona, June 2015 Verona University May 2015 Locations: BOSTON BOLZANO DUBAI LONDON SHANGHAI SÃO PAULO SEOUL TORONTO

Agenda JUNE 17 TIME Registration 14.00-14.15 Entrepreneurship and Innovation: 20% idea 80% execution 14.15-15.30 Design Thinking and Business Model Canvas 15.30-16.

00 Learn how to Identify Risks and Navigate Uncertainty 10.00-10.45 Prototype or Die 10.45-11.05 Learn to Communicate via Prezi 11.00-11.45 Exercise: Apply Canvas Model to Crack the Challenge 11.

2 Agenda JUNE 17 TIME Registration Entrepreneurship and Innovation: 20% idea 80% execution Design Thinking and Business Model Canvas Crowd Sourcing and Social Media Exercise: Set the Stage, Present Challenges and Build Teams JUNE 18 TIME How to Develop and Priorize Business Concepts Learn how to Identify Risks and Navigate Uncertainty Prototype or Die Learn to Communicate via Prezi Exercise: Apply Canvas Model to Crack the Challenge JUNE 22 TIME What is Marketing and Why is it Important The Art of Storytelling Promotion Plan (examples) Exercise: Apply Canvas Model to Crack the Challenge JUNE 23 TIME Navigate start-up contests and Crowd-Funding Platforms About 45 Min Clinton Global Case Challenge Accelerator (example) Exercise: Apply Canvas Model to Crack the Challenge About 1.5 hours Teams Present Solutions (5 Minutes per Team, 10 team) Collective Q & A by Venture Board (Luca, Mario, Elena, Massimo) Venture Board De-Briefing Announcement of Winners Wrap-Up

3 Last week we discussed about how to structure a business idea 9 3

4 During your career you may face the issue of raising capital for your start-up or on behalf of your company From public co-funding schemes (Horizon 2020 etc.) From family and friends From banks From crowdsourcing platforms From angel investors From venture capital funds Explaining your Business Model (explain how you plan to make money) is going to be key for convincing your investor to fund you 4

) From family and friends From banks From crowdsourcing platforms From angel investors From venture

5 There are different ways of funding your business Debt: Your funder lends you money asking you to reimburse the funds + an interest rate (if family is involved this doesn t necessarily apply); Equity: Your funder invests in your company in exchange of a share of the latter (share depends on the company valuation and on your negotiation skills); Mezzanine: Your funder lends you money and gets an option to convert it in a share in case that some covenants are/are not met 5

in exchange of a share of the latter (share depends on the company valuation and on your negotiation skills);

6 Start-up challenges are a good way to pitch your idea and get funding Check what kind of initiatives are considered for funding before applying Application processes, logistics and rules are not necessarily the same for each event 6

for funding before applying Application processes,

7 Crowd-funding is the newest way of having the crowd funding you There are three main ways of asking the crowd to support you: 1. Reward based crowd-funding: The crowd asks for a non-monetary reward 2. Equity based crowd funding: The crowd invests 3. Debt based crowd funding: The crowd lends you money in exchange of an interest rate 7

Reward based crowd-funding: The crowd asks for a non-monetary reward 2.

8 There are several platforms funding research 8

Frequently Venture Capital Funds joing forces with incubators and accelerators in order to speed-up the path to success Programmi di accelerazione Aperto: Classico & affiliato con università Diretto:

9 Frequently Venture Capital Funds joing forces with incubators and accelerators in order to speed-up the path to success Programmi di accelerazione Aperto: Classico & affiliato con università Diretto: di nicchia Captivo: interno ad aziende Aperto: crowdsourcing e aperto a tutti i settori Diretto: aperto a settori specifici (tecnologia, alimentare, servizi sociali ecc.) Captivo: programmi interni aziendali 9

nicchia Captivo: interno ad aziende Aperto: crowdsourcing e aperto a tutti i settori Diretto: aperto a

10 IXLerator Incubators/accelerators may offer different types of support Tipi Serivzi Spazio e internet Finanz. e sponsors Coaching e supporto dal mondo imprendit. Modelli, templates, metodologie e software Networking & eventi Classico (affiliato a universitá) Diretto Captivo forte Strategico: Aprire canali di vendita e distribuzione + contatti con clienti debole 10

Modelli, templates, metodologie e software Networking & eventi Classico (affiliato a

OUTPUTS PROCESS Example: IXLerator s acceleration approach is based on 5 phases and lasts 6 weeks Week 1 Week 2 Week 3 Week 4 Week 5-6 1. Innovation Intent (Kickoff) 2.

Business Case Strategic Innovation Portfolio Defines the Campaign & Establishes Boundaries Strategic Innovation Focus 500 + Insights/Idea Fragments Across Markets, Offerings,

11 OUTPUTS PROCESS Example: IXLerator s acceleration approach is based on 5 phases and lasts 6 weeks Week 1 Week 2 Week 3 Week 4 Week Innovation Intent (Kickoff) 2. Opportunity Insights 3. Fields-of-Play 4. Business Concepts 5. Business Case Strategic Innovation Portfolio Defines the Campaign & Establishes Boundaries Strategic Innovation Focus Insights/Idea Fragments Across Markets, Offerings, Technologies, etc. Business Opportunity Map 25 Fields of Play: New Opportunity Spaces for Your Business Fields-of-Play 25 New Business Concepts Focused Within Five Prioritized Fields of Play Business Concepts 4-5 Business Plans for Your Organization to Pursue on Monday Morning Business Case Client Meetings 11

12 Avoid thinking that the path to success is as a straight line 12

5. Funding Available for IP-Rich Businesses

20 IP Finance Toolkit 5. Funding Available for IP-Rich Businesses Introduction As the Banking on IP? report notes; SMEs first port of call for finance is often a bank. Figures quoted in the report show