kiei - linda darragh
TRANSCRIPT
Your Title Here
DEPARTMENT NAME HERE
World ChicagoNovember 4, 2015
Linda DarraghExecutive Director, KIEI
Clinical Professor of Entrepreneurship
Thought Leadership New Fundamentals
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
ACCOUNTING
FINANCE
MANAGEMENT & ORGANIZATIONS
STRATEGY
MANAGERIAL ECONOMICS & DECISION SCIENCES
MARKETING
MARKETS & CUSTOMERS
ARCHITECTURES OF
COLLABORATION
PUBLIC-PRIVATEINTERFACE
INNOVATION & ENTREPRENEURSH
IP
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
KIEI Unified Structure + Increased Impact
KIEILevy
Institute for Entrepreneurial
Practice
Heizer Centerfor Private Equity & Venture Capital Kellogg
InnovationNetwork
(KIN)
Real EstateProgram
Center for Family
Enterprises
Center for Research in
Technology & Innovation
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
THREE CORE TRACKS
CORPORATE INNOVATION
GROWTH & SCALING
NEW VENTURE CREATION
• Kellogg Innovation Network• Center for Research in Technology and
Innovation
• Heizer Center (PE/VC)• Center for Family Enterprise
• Levy Center for Entrepreneurial Practice; Heizer Center (PE/VC)
• Real Estate Entrepreneurship
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
New Venture Creation
X
Big Company
Copyright or confidentiality statementDEPARTMENT NAME HERE
Start-up
Start-up Definition
A temporary organization designed to search for a repeatable and scalable business model.
Steve Blank
Source: Business Model Generation by Osterwalder, Alexander and Pigneur, Yves
Piece & Co.Kathleen Wright
Past Fair Trade Model:Artisans try to find marketsPoor supply chain. Who pays?
Piece & Co. Model:Brands want artisansHigh quality. Good supply chain. More value to all.
Source: Business Model Generation by Osterwalder, Alexander and Pigneur, Yves
Supply chain & sourcing
Sourcing & technology
platform
Retailers
Apparel manufacturers
Supply chainSupply chain
Too high for department stores
More value, less cost
More value, raise prices; subscription and transaction fee
Sourcing & Technology
KIEI 462:
Product – Market Fit
New Venture Discovery – KIEI 462
• Problem identification and verification• Propose and then test a solution
– Is their a customer who has a ‘pain’ that you can solve, or an advantage you can give them?
– Is there product – market fit?– Are there enough customers to sustain and scale the business
• How to do this?– Prototyping– Get out of the building– Business Model Canvas
New Venture Discovery
New Venture Development
New Venture Launch
Where to Start?
$, Mentors, Resources
DISCOVER TEST LAUNCH
Have done significant market research
Want to learn how to acquire customers
Idea but needs more market research
Passionate about a problem
No Idea
Want to Learn Design Thinking
Already have a MVP, beta customer
Want to build low fidelity MVP
Building Block Courses
New Courses• Entrepreneurial Selling• Entrepreneurial Teams & Cultures• Digital Marketing• Introduction to Programming• Start-up Programming • IP for Entrepreneurs• KIN Challenge
Existing Courses• Business Law for Entrepreneurs• Entrepreneurial Finance and VC• Product Management for Technology Companies
Experiential Courses
New Courses• Entrepreneurial Experience• Medical Product Commercialization
Existing Courses (Revised)• Corporate Innovations & New Ventures• Social Enterprise: Designing for Change
KIEI Non-Tenured Faculty
23 new faculty members• 11 are investors – angel and VC• 9 are successful entrepreneurs• 8 Co-founders of accelerators or incubators
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
FALL WINTER
CO-CURRICULAR OPPORTUNITIES
SPRING POST-GRAD
Zell Scholars
Pritzker Group Venture Fellows
Business Competitions
Startup Career Fair
Social Entrepreneurship
Awards
In only 2 Years The Zell ScholarsProgram has:
Supported and Impacted 19 Scholars
$ $ $ $ $ $
14 who Continue to Grow Their Ventures
(6 PartTime)
(8 FullTime)
6 Ventures are Revenue Positive
14 Competition Wins: $800k in Non-Dilutive Funding
$4m in Cumulative Funding To-Date
Launch a new
business
Join a new
business
Join a scaling
business
Buy and transform
a business
Intrapre-neurship
Re-ignite a family business
VENTURING MIND
Multiple Pathways to Entrepreneurship
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
ACROSSNU
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
FALL WINTER
NUVENTION COURSES
SPRING
ENTREPRENEURSHIP PATHWAY
NUVention: Medical
NUVention: Web/Mobile
NUVention: Energy NUVention: Impact
NUVention: Media & Entertainment
NUVention: Analytics
Northwestern UniversityVenture Challenge• $200,000 in Prizes
• 5 tracks– Consumer products & services– Business to business products & services– Life Sciences– Clean Energy & Sustainability– Impact
• Kellogg winners– 2014: Innoblative, Four Kites, Page Vault– 2015: Opticent Health, MDAR Technologies
Programs and Benefits
1. Drop in space to work on your business or start-up1. Free snacks, free wifi, free deskspace, free coffee
2. The Garage Residency Program1. 24/7 access to The Garage and dedicated workspace2. A weekly “Family Dinner” and presentation3. Priority access to office hours, workshops, and events
3. Office Hours with Experts from our Mentor Network1. Seasoned Entrepreneurs-in-Residence (EIRs).2. Free legal services and advice.3. Alumni & faculty experts offering advice in all domains.
4. Workshops and Events1. The Internet of Things.2. NUScramble (coming in November) – a condensed early stage start-up experience weekend.
The Garage is open to all students at Northwestern
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
GROWTH&
SCALING
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
CORPORATE INNOVATION
GROWTH &
SCALING
NEW VENTURE CREATION
WHY GROWTH & SCALING?
FOCUS OF MOST MBA COURSES
Growth & Scaling Courses
Growth Scaling Scaling Scaling Financing GovernanceStrategy Organizations Operations Customers Growth
Strategies for Growth
Managing Organizations
for Growth
Scaling Operations
Marketing Lab –
Generating Growth
Entrepreneurial Finance &
Venture Capital
Human Capital &
Enterprise Scaling
Scaling Operations
Lab
Global Entrepreneurial
Finance
Entrepreneurship Through
Acquisition
Family Enterprises:
Issues & Solutions
Global Corporate
Governance
New Zell Growth Scholars Program
Immersion TripMeet variety of
companies 25 students
Summer Internships in middle market
companies
AWARENESS TEST
LAUNCH
Winter Spring FallSummer Winter Spring Post- GradFall
Zell Growth/Acquisition Track:10 Students
KELLOGG INNOVATION AND ENTREPRENEURSHIP INITIATIVE
WHERE ARE WE GOING?
Gro
wth
&
Scal
ing
2013 2014 2015 20172016 2018
New
Ven
ture
C
reat
ion
KIEI: 6 Year PlanDevelop FT & PT Curriculum Iterate, Improve, & Add Faculty
Assessed Existing
Programs
Pritzker Launch
U
Zell Fellows
Expanded NUVC / Startup
Career Fair
McCall Startup Support
Increase curated resources & mentors.Increase funds to support student businesses
Iterate, Improve, & Add FacultyDevelop EMBA Curriculum
Develop Alumni Offerings Iterate & Improve
Develop Global Offering
Develop FT & PT Curriculum Iterate, Improve, & Add Faculty
Evaluate & Add Other Curricular ProgramsNew Zell Fellows Program
Develop EMBA Curriculum Iterate, Improve, & Add Faculty
Improve Integration of CRTI, CFE and KIN into G&S
Develop Scaling & Exit Options for Alumni Iterate & Improve
Develop Global Offering