business support activities in hut petro suvanto business consultant oiic 2.4.2004

Business support Business support activities in HUTactivities in HUT

Petro Suvanto

Business Consultant OIIC

2.4.2004

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Academic Academic EntrepreneurshipEntrepreneurship

• Entrepreneurial spirit combined with the academic education

• Source for the hi-tech growth companies

• Promoted by the universities and the government

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TopicsTopics• Basics

– Business idea– Team– Capital

• Inventions• Companies• Tools

– Business consultancy– InnoTULI– InnoLinko– Spinno– Networking

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BasicsBasics

• Business idea

• Team

• Capital

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Business idea (1/3)Business idea (1/3)

• What you are selling?– products, knowledge, etc.

• To whom you are selling?– businesses, consumers

• How you are selling?– Licensing, one-time sales

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• Examples:

– Selling new copy machines

– Software subcontracting

– Teaching new methods for IPR management

– Tool for efficient logistics

– etc.


Should be

clear to you before

you can sell it to your customer!!

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Team (1/3)Team (1/3)

• Alone is hard to success

– You have only 24-hour a day!

– You are not a master of all trades!

• With trusted partners it is easier to continue

– more ideas

– shared responsibility

– faster process

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• Different types of skills are needed

– technological skills

– managerial skills

– marketing skills


However,

typical number of

founders is

2-3 people!!

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Capital (1/5)Capital (1/5)

• Money is needed to run a business:

– salaries

– equipments

– travelling

– marketing

– external services

– etc

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• Sources of the funding:

– own resources

– banks

– business angels

– venture capitalists

– TEKES and other public sources

– customers

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• In the business idea stage, need for the capital not very high

– much can be done by own work

– public sources available

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• In a mature company, money for the operation comes from the customer

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• In between, the funding may come from external sources

• External capital enhance the business growth with the price of losing equity

LuckLuck

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InventionsInventions

• HUT acts with Finnish Foundation for Inventions to support protections and commercialization of the inventions done by the personnel and the students of HUT

• Two innovation managers in HUT:

– Panu Kuosmanen

– Tuomas Mennola

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Companies (1/2)Companies (1/2)

• Each year dozens of companies are established by the students and the personnel of HUT

• Companies can be established based on the research results

• Business activities can be carried out while working or studying

• However, working full-time in a company gives creditability

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Companies (2/2)Companies (2/2)

• One or two man consultant companies

• Software companies

• Companies based on the inventions created in the laboratory

• Companies based on the knowledge and the contacts received in the laboratory

• Companies based on the ideas derived from the academic studies

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Tools for business supportTools for business support

• Business consultancy

• InnoTULI: support for external services

• InnoLinko: support for business space

• Spinno Business Development Centre

• Networking

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Business consultancyBusiness consultancy

• From business idea stage to early months of the company

• an ousider look to business idea and team

• 2-10 meetings with the entrepreuneurs during one to six months

• in each meeting action points are given

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InnoTULI (1/5)InnoTULI (1/5)

• Money to support business ideas by external services

• InnoTULI is a TEKES funded project to support commercialization of the research results in Otaniemi area

• Main sources of business ideas are HUT and VTT (Technical Researach Center of Finland)

• Fast process

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• The ideas are collected, evaluated, and the mature ones are supported

• A mature case: reasonable business idea with the commitment to pursue further

• Each year 150 prospective ideas of which 60-80 cases funded

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• The measurement to support the cases are evaluated and decided by the InnoTULI experts

– consensus opinion of at least 4 experts

– project group (10 persons) makes a final decision each month

• However, all the actions must be approved by the entrepreneurs!!

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• Support for the cases can be:– Market research– Business model– Legal services– Contacts with the prospective clients– Markets– etc

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• Activities last from one month to three months

• 35-45% of the cases are commercialized (company established or licencing agreement)

Contact persons in HUT: Petro Suvanto and Panu Kuosmanen

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InnoLinko (1/4)InnoLinko (1/4)

• Space to develop business ideas

• Early-stage business incubator

• Located in Otaniemi Technology Park

• For the students and researchers of HUT

• The committed teams with a business idea

• Company may have been founded beforehand

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• Open office or individual rooms

• Free or subsidized

• Available for 6 months

• Flexible transfer to the inbubator, when the company gets funding or reaches positive cash flow

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• Mailbox

• Fax

• Copy machines

• Internet connection

• Conference rooms

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• Support for Business development

– establishing a company

– business plan

– networking

– weekly round table discussions

Contact person in Otaniemi region: Tuomas Maisala

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Venture CupVenture Cup

• A business plan competition

• Expert coaching and feedback to the teams

• Participation free, monetary prizes!!

Contact person in HUT: Maija Hellman

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Spinno Business Spinno Business Development CentreDevelopment Centre

• Training activities focus on

– business development

– growth and internationalization

• Networking

• HelpDesk

• Aiming for the success of participating companies

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Spinno HiTech (1/3)Spinno HiTech (1/3)

• A year-long business development program for new entrepreneurs and companies

• Program includes

– 20 seminar days

– 3-7consultancy days

– HelpDesk

• Heavily subsidized

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• Seminar days (4-6 hours), once or twice a month, cover basic business areas:

– financial planning an accounting

– marketing and market information

– selling

– IPR and contractual aspects

– Human resources and management

– Growth and internatiolalization

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• Consultancy days for specific needs of a company

• Panel of high-level advisors available, use of own consultant allowed

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Spinno HelpDeskSpinno HelpDesk

• Quick support for

– juridical questions

– financicial and strategic aspects

– recruiting and human resources

– market and competition information

• Short consultancies free!

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Networking (1/3)Networking (1/3)

• Networks within HUT,Otaniemi, Helsinki region, elsewhere in Finland (e.g. Southern Savonia)

• European networks (Proton, IRC)

• Contacts to all over the world

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• Mentors for the companies established by the students

– HUT alumni

– HUT personnel

– Spinno mentors

– Business angels

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• Customers

• Project partners

• Strategic partners

• University partners

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TargetsTargets

• Founding new companies faster

• Profitable business

• Business plan for VC:s

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CompaniesCompanies

• Icareus Oy: content expertise for digi-TV

• Adaptamat Oy: magentic shape materials

• Trueflaw Oy: material qualification

• Jamera Networks Oy: recycling school books

• Finmeas Oy: environmental measurements

business support activities in hut petro suvanto business consultant oiic 2.4.2004

Documents

customer slide

luck slide

equity slide

government slide

creditability slide

business growth

business idea stage

business support activities