Will CardwellHead, Aalto Center for Entrepreneurship

Enablers of Growth Entrepreneurship –Company and Policy Views.

1. Background

Aalto University engagesits students in a passionateculture of seeking new knowledge, learning and research.

A generation of thought leaders

Tuula Teeri, Aalto University

A merger of three leading Finnish highereducation institutes: business, art & technology

Aalto University

Why do we believe startups are important?Raising the next generation of changemakers.

90%of new jobs and radical innovationsare born in new technologycompanies, startups

Aalto Center for EnterpreneurshipBuilding successful companies that create jobs and prosperity.

The four cornerstones of ACEBuilding successful companies that create jobs and prosperity.

EntrepreneurshipResearch

Entrepreneurship Education

Innovation Servicesand TechnologyTransfer

GrowthVenturing and

Start-Up Services

Innovation researchSME research

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Highlights for ACE 2010Major new sales of Aalto patents to Finnish industry.

Record number of inventions from Aalto.1115015

Record number of priority patent applications filed based on Aalto Research.Record number of startups formed from Aalto-based ideas.Strong new partnership with Stanford Technology Ventures and Stockholm School of Entrepreneurship.

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Largest VC funding round of recent history in Finland for research-based company went to Beneq (9m€), which relies significantly on Aalto expertise

We see many things in the ecosystem around Aalto that are encouraging:

Aalto startups Rovio (Angry Birds!) and Remedy Entertainment created number 1 and 2 global game titles.

NO:1&2

9M€

3M€ Large funding round to Canatu and Blaast (3+m€), recent Aalto spinouts (i.e. based on Aalto IP)

Highlights from companies

PowerkissPowerkiss technology provides a simple, user-friendly and efficient way of keeping all your dear devices charged on top of any surface.

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AudioDraftAudioDraft offers companies a new and innovative way to order custom made audio from the artist and audio designer community by creating audio competitions.

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ZenRoboticsZenRobotics Ltd., is specializing in robotic recycling technology. The company's main product is ZenRobotics Recycler, a waste sorting system which separates raw materials from waste

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2. Case: Valimo

Mobile Identity ManagementMobile Payments

Mobile Signatures /WPKI

A Short Case Study: Valimo Wireless

What the Solution Looked Like

Entities involved

END USER

BANKValimo iD

Server

Validator - MSSP

OPERATOR

Web Bank

Certificate Repository

CA

OTA Gateway

Action Flow

User Database

Bank’s own or Trusted Third Party

In 2004, Our Partners Were…

In 2004, Our Customers Were…

GamingGovernment

mServicesCorporate Authentication

Fixed

Mobile

ePaymentDigital Signing

ISP

eBanking Digital TV

mBanking

Media

mGaming

Public Services

Retail

Mobile Operators

WHAT PUT US OVER THE TOP?

FacebookRoberto Carlos

HR Agility

Finnish Network

Reverse LearningFocused IP

WHAT HELD US BACK?

Complex Ecosystem

Unproductive PartnershipsDistressed Customers

Dripfed Finance

Fragmented Technical SolutionsUneducated Public

Small home market

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3. Messages to entrepreneurs & policy-makers

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For ”Startup DNA” in EuropeFocus on extreme competence and competitive advantage. Extreme work. Positioning such that companies thrive amid totally unpredictable market shifts

A Grounding for Decision-Makingunder High Uncertainty

Steve Jurvetson, Managing Director, DFJ

Video Link

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On risk taking and failuresEcosystem: promotes pioneering spirit embracing uncertainty, risk-taking and tolerating failure

Video Link

On risk taking and failuresEntrepreneur: you must not fail! (but BTW its OK if you do, keep trying!)

Tina Seelig, Executive Director, STVP

Video Link

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On Youth and EnergyEntrepreneur: Start early! Universities will probably drive the next Black Swan. And, DON’T BE PATIENT!

Mark Zuckerberg, Founder of Facebook

On Youth and EnergyEcosystem: Attract founders, who are ideally young, energetic and possibly migrants, and support them patiently

Company Foundation Founder Age

Microsoft 1975 Bill Gates 20

Microsoft 1975 Paul Allen 22

Oracle 1977 Larry Ellison 33

Apple 1976 Steve Jobs 21

Apple 1976 Steve Wozniak 26

Cisco 1984 Len Bosack 29

Cisco 1984 Sandra Lerner 29

Sun 1982 Vinod Khosla 27

Sun 1982 Bill Joy 28

Sun 1982 Andy Bechtolsheim 26

Google 1998 Larry Page 25

Google 1998 Sergey Brin 25

eBay 1995 Pierre Omidyar 28

eBay 1995 Jeff Skoll 30

Yahoo 1995 David Filo 29

Yahoo 1995 Jerry Yang 27

Netscape 1994 Marc Andreesen 23

Intel 1968 Robert Noyce 41

Intel 1968 Andy Grove 32

Amazon 1994 Jeff Bezos 30

HP 1939 Bill Hewlett 26

HP 1939 David Packard 27

Dell 1984 Michael Dell 19

Founder Company Age

Hasso Plattner SAP 28

Dietmar Hopp SAP 32

Hans-Werner Hector SAP 32

Klaus Tschira SAP 32

Francis Bernard Dassault >36

Pier Luigi Zappacosta Logitech 30

Daniel Borel Logitech 30

Bernard Liautaud Business Objects 27

Denis Payre Business Objects 27

Jamie Urquhart ARM 32

Mike Muller ARM 31

Tudor Brown ARM 31

André Auberton-Hervé Soitec 31

Jean-Michel Lamure Soitec 44

James Collier CSR 40

Glenn Collison CSR 35

Mike Lynch Autonomy 31

Richard Gaunt Autonomy 28

Marc Lassus Gemplus 49

Daniel Le Gal Gemplus 37

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On Customer DevelopmentEcosystem: Willing customers participate in trial and errorprocess with innovators. Entrepreneur: Get out of the office all the time – live and breathe with customers.

Steve Blank, Seriel Entrpreneur

Video Link

On team-building (a)Freedom offered to talent who should not be snatched from start-ups. Talent (+ capital!) MUST be mobile!Bring in the best wherever they come from (and many willcome from abroad!) 31

Martin Eberhard, Co-founder, Tesla Motors

Video Link

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On team-building (b)Ron Conway & Mike Maples

Video Link

On the Value of Technology (a)

Video Link

On the Value of Technology (b)

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John Doerr, KPCB

Video Link

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Any Ideas? Invented Something?Contact us directly: Will Cardwell, Head, 040 514 1325Pauli Laitinen, Innovation Services Team Leader, 050 338 0509

Or look at: http://ace.aalto.fi