VentureLab TwenteRob van Lambalgen - Programme Director

QUT - 9 Februari 2010

This project is co-funded by the European Fund for Regional Development, the Twente Region and the Province of Overijssel

VentureLab Twente… today

Need for VLT initiativeStakeholders

Concept Proof of concept

VLT for economy

VentureLab Twente.. initiative and objectives

University Twente: > 800 start-ups in 25 yrs… but they remain small (< 10 fte)

University asked to design business support program for growth companies VLT

VLT OBJECTIVES350 participants in 4 years 200 SME’s 30 SME’s >100 fte’s 3000 direct, 6000 indirect fte’s Need for

program

VentureLab Twente stakeholdersGovernment, providing subsidies… getting sustainable economic growth in

return

University, carrying out the program… generating valuable research data

Participants, making full use of the program…creating a successful growth company

… our offer to the participants:

Stakeholders

VentureLaba partner in creating value ..

.. for ambitious people who want to build their own company

- high tech, high growth and international focus

Flexible support programme .. tailored to need of company.. one year for € 2.500

What is it?

VentureLab TwenteOur value proposition, your choice Do it yourselfStruggle three years all by yourself .... and create a company value of 100.. “I don’t have time for the VLT program”

Do it with VLTExploit the benefits of the VLT program .... and create a company value of 1000 within one year

Why VLT?

What is High Tech?

Broad definition, including aspects (and/or)• Intellectual Property Right (IPR)• New Business Model• Long time to market• Uncertainty of success• New proposition in Value chain• New technology• Existing technology in new market• Connection with academic world.. No strict boundaries.. If in doubt, ask!

VLT for YOU!Participants

Who can participate?.. Age 8 – 88 years • Starting entrepreneurs• Experienced entrepreneurs• Employees of larger firms (BD/NPD) .. “corporate venturing”• Soft landings• Graduate students in engineering, MBA,

sciences, arts, ..• Specialists in marketing, finance, ..• Individuals as well as teams.. future owners of a fast growing high-tech company

VLT for YOU!Participants

Entrepreneurial needs (4S model NIKOS)

Entrepreneur and

Enterprise

Not market oriented

Scope: from idea

to Strategy

SocialNetworks

Skills:Patterns of

Organisation

Scale: EconomyFinancial

means

• Ideas• Assessing the opportunity • Strategic processes• Business plan

• Culture, values, norms• Facilities• Personelarrangements

& Systems • Knowledge

Contacts with:• Clients• Suppliers• Experts• Colleagues• Support agents

• Own capital • Bridging development

period• Financing investments

- Venture Capital- Loans

Mono-disciplinaryTeams (tech)Management skills

Strategic driftTechnology/marketSmall ambition

“Death valley”Long time to marketHigh cost - high riskUnsufficient funding

Academic networks Small markets No networks

But companies often underperform

Why VLT?

VLT instruments for success

Entrepreneur,team andEnterprise

Coaching, Training,

Team building& Courses

Scope: from idea

to Strategy

SocialNetworks

Skills:Patterns of

Organisation

Scale: EconomyFinancial

means

• Culture, values, norms• Facilities• Personelarrangements

& Systems • Knowledge

• Ideas• Assessing the opportunity • Strategic processes• Business plan

Contacts with:• Clients• Suppliers• Experts• Colleagues• Support agents

• Own capital • Bridging development

period• Financing investments

- Venture Capital- Loans

Knowledge Office spaceOrganisationalsupport

Strategic Coach

Access to:Soft loansParticipationVenture capital

IntroductionsBrokerage

Why VLT?

VA

LU

EC

RE

AT

ION

Key success factor for value creation.. focus on personal skills & team skills

Opportunity recognition

Opportunity preparation

Opportunity exploitation

CTO/COOCulture Capital

CFO

Economic Capital

CEO

Strategic Capital

CMOSocial Capital

.. Entrepreneurial environmentWhy VLT?

Value Creation Model of VLT

YOURVALUE

YOURIDEA

VLT support

Value Creation

Value creation support.. unique and integral approach

CoachingGuiding

M

T/O €

S

OfficesLabs

ResourcesCapital

Pers. skills

Team skills

CommunityNetworks

S = StrategyM = MarketingT = TechnologyO = Operations€ = Finance

Value Creation

Coaching & guidance key for success

InternalDevelopment

ExternalEnvironment

coaching

guiding

.. Entrepreneurial environmentValue Creation

VLT designed to solve all shortcomings in business creation• Early stage support from (international)

trainers, personal coaches and experts– Business planning, marketing, production, finance, etc– Competences and skills

• Building of and working with multidisciplinary entrepreneurial teams– Partnerships

• Dynamic entrepreneurial community– Office facilities– Stimulating environment and networks– Launching customers, Clients and finance

VLT CONCEPT

Skills, roles and knowledge

Finance Marketing & Sales Strategy Technology Organization Personal & Team skills

F101 - Management Accounting MS101 - Strategic Marketing as a holistic approach

S101 - Strategy Context: the external environment

T101 - Technology Innovation environment

O101 - Being a manager and an entrepreneur: conflicting roles?

PTS100 - Self-assessment for personal development

F102 - Financial Accounting MS102 - Strategic Marketing: Segmentation, Targeting and positioning

S102 - International Business T102 - Technology strategy O102 - Planning and control PTS201 - Communication skills

F103-Financial Accounting MS201 - Market analysis: customer needs

S103 - Industry Structure T201 - Technology Analysis O103 - Organizational Structure and growth

PTS202 - Presentation skills for entrepreneurs

F104 - Corporate Finance MS202 - Market analysis: value assessment

S104 - Sustainability and Ethics T202 - Technology assessment O104 - Corporate Culture and images of organizations

PTS203 - Networking skills

F201 - Bootstrapping, Subsidies and 3F's

MS301 - Transactional marketing: Basic

S201 - Strategy Process: Planning vs emergence

T301 - Customer integration O201 - Operations Strategy and competitive advantage

PTS300 - Leadership

F202 - Banks MS302 - Transactional Marketing: Advanced

S202 - Strategic Thinking T302 - Product/Service planning O202 - Introduction to Operations Management

PTS301 - Convincing an influencing others

F203 - Venture Capital & Business angels

MS400 - E-Commerce: The new media as marketing tools

S203 - Strategic Change T401 - IP Protection O301 - New Product Development: From idea to design

PTS302 - Negotiating skills

F301 - Equity planning MS501 - Identifying prospective customers

S204 - Exit Strategies T402 - Knowledge Management O302 - New Product Development: From design to production

PTS303 - Conflict Management

F302 - Business valuation MS502 - Account Management and customer relations

S301 - Strategy Content: the business model

T501 - Knowledge-based collaboration

O401 - The founder's role in human resource management in SMEs

PTS401 - Personal efficiency

F303 - Deal terms for private equity S302 - Mission and strategic intent T502 - Technology Transfer O402 - HRM practices and systems in SMEs

PTS402 - Work Life Balance

S304 - Organizational Form T601 - Technology Commercialization

PTS501 - Business English

S305 - Contracts T602 - Technology Exploitation PTS600 - Teamtraining

S306 - Networks and Cooperation T701 - Process evaluation PTS601 - Building entrepreneurial teams

T702 - Continuous improvement

Training programme details

Successful launch of VLT in 2009:1st group in May: 18 participants2nd group in October 2009: 23 participants3rd group in Januari 2010: 20 participants

Proof ofconcept

• Aviation and Bio fuel • 3-D printing• E-commerce (internet platforms)• Remote sensoring/measurement• Energy information systems• Identity management• Synthetic seeds• Solar energy• Insulation/Cooling• Simultaneous multi-language translations• etc

Wide range of participants

Proof ofconcept

Tailor made to need of company.. (1) Aviation and biofuel

Ambition: Aviation school, Testing facilities for biofuel, Air carrier based on biofuel, Demoflight USAEU on Biofuel

Support focus1. Relocation to Airport Twente2. Focussed ambition3. Start of Clean Tech Development Center4. Alliance with 2 partners in Value Chain5. Team development and training

2

1, 3 4

5

Proof ofconcept

Tailor made to need of company.. (2) 3-D printing

Ambition: Company on printing 3-D products for industry, health care, consumers (via web)

Support focus1. Business skills2. Development of business model3. Start of Rapid Manufacturing Center 4. Relocation equipment, engineers to Twente5. Corporate finance

2,3

1

3, 53, 4

Proof ofconcept

Tailor made to need of company.. (3) Corporate Venturing

Ambition: Spin-out activity of large company

Support focus1. Business skills2. Development of business model3. Team building for new company 4. Introduction into relevant networks

2

1

4

3

Proof ofconcept

Tailor made to need of company.. (4) Soft Landing

Ambition: Establish subsidiary in Twente (Europe)

Support focus1. Guidance2. Facilities (incubator, office and/or production)3. Introduction into relevant research and

business networks

1

2 3

Proof ofconcept

VLT =

VentureLab Twente for you• Building your OWN High Tech Company

• Opportunity recognition• Business Model • Business Plan• Company start up

• Building your entrepreneurial competences and team

• Personal coach and experts• Access to worldwide networks and

facilities (clients, partners, financers,..)• VLT office facilitiesFlexible programme,

tailored to YOUR needsVLT for YOU!Summary

Planning• Duration: 1 year• Training every Friday• Community day on Thursday• Monthly Venture Classes• Four monthly business panels• Weekly coaching (at request)• Coaching sessions with experts• Fulltime availability of own office facilities at ‘The Corridor’

VLT for YOU!Planning

Next in OLCT: Het voorportaal

<<< OLCT building

Vent

ure

Lab

Ca. 1

000

m2

What are the costs for VLT start-ups?

• Total costs: € 30,000 per participant

Start-up contribution is:• Enrollment fee of € 2,500Promotors:• Subsidy of € 27.500 : EU, Province of

Overijssel, Twente region, Saxion University, University of Twente (Nikos)

VLT for YOU!Costs

Benefits of VLT • Economic development & employment• Sustainable, future-oriented business• Research on successful entrepreneurship

and economic development (Nikos)

VLT for economy