Hothouse/Programme Interaction Learning Outcomes, Value Creation & Value Capture.

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Hothouse/Programme Interaction Learning Outcomes, Value Creation & Value Capture

Transcript of Hothouse/Programme Interaction Learning Outcomes, Value Creation & Value Capture.

Page 1: Hothouse/Programme Interaction Learning Outcomes, Value Creation & Value Capture.

Hothouse/Programme Interaction

Learning Outcomes, Value Creation & Value Capture

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WE HELP …

DIT Researchers

Investors

Businesses

Entrepreneurs

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What is Hothouse?The Technology Transfer & Innovation Centre at DIT

Commercialisation Team

• Helps DIT staff and students commercialise their IP

• Helps businesses find new technologies, research partners

• Develop research funding

• Qualifies the commercial opportunity for DIT technology

• Protects DIT IP

Incubation Team

• Helps entrepreneurs to start and grow businesses

• Helps investors find HPSUs

• Hothouse EPP supports 32 companies annually

• Typically ICT focus, some Life Science, Bio, CleanTech

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Hothouse - Incubation

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Enterprise Support Bodies

1 – 10 employees

Funding

Soft supports

No export requirement

Enterprise culture ...

10 + employees

Early stage funding

Equity investment in High Potential Start-Ups (HPSUs) if ...

Export focused

10 jobs

€1m in 3 years

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Hothouse Funded by

Programme is a feeder for EI HPSU companies

HPSU = matched investment from EI & VCs/Angels

EI Development Advisor appointed to help mentor Pre-HPSU company

DA has +18 clients at any one time

EI actively funds VC funds also

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Hothouse Venture Programme

Established 2001

A one-year incubation programme for early stage technology focused businesses

Aim to produce prospects for Enterprise Ireland

Based at Docklands Innovation Park (Bolton Trust)

Now on Hothouse 21!

300+ Hothouse alumni & participants

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Start-Up Cycle

Conceptualisation

Validation

Resourcing

Implementation

Growth

Consolidation

Feasibility

Implementation

Resourcing End

Start

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The Research Cycle

Conceptualisation

Validation

Resourcing

Implementation

Growth

Consolidation

Feasibility

Implementation

Resourcing End

Start

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2009

Hothouse - Commercialisation

2010

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DIT Mainstream Programmes Supporting Venture Creation and Commercialisation

MSc Business & Entrepreneurship

MSc International Business

MSc Strategic Management

MSc Technology Management & Innovation (Part time)

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‘The Method’Value creation

Portfolio of Techniques to practice entrepreneurship

Entrepreneur, team, and firm

Serious games, observation, practice, reflection, cocurricular, design

Practice, Self-knowledge, fit, action, do-learn, cocreation, create opportunities, expect and embrace failure

Action

(Neck, Greene (2011))

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Effectuation

What makes entrepreneurs entrepreneurial?•Bird in the hand •Affordable loss •Leverage contingencies •Patchwork quilt •Control v PredictionThe future is neither found nor predicted but rather made

Effectual v Causal reasoning

(Sarasvathy (2008))

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www.movidius.com

www.equiendo.com

www.TCASonline.com

www.smartwallpaint.com

www.AirmidHealthGroup.com

www.MicksGarage.com

www.Propertygate.ie

Hothouse success stories

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Evaluating New TechnologiesMost basic = is it a license or spin out?

License = enabler, relatively small market, single technology

Spin out = platform tech, large market, problem to solve, possibility of a team

IP – prior art? Strength of patent?

Outcome is a Feasibility Study, after

- Initial patent search

- Initial market research

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Feasibility Study?Market Side Analysis:

• Validation of proposed market (are there others?)

• Market assessment – define addressable and primary attitudinal survey

• Define Key Geographies; Proposed Market Segments; market size and growth projections

• Industry trends

• Competitor analysis – SWOT analysis

• Potential Business Models

• Customer / User Questionnaire / Interviews

• Estimated sales per year

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Feasibility Study, con’tProduction Side Analysis:

• Depends on validation of perceived market

• Define key production & scaling parameters

• Review existing process &/or research results

• ID Industrial scaling requirements to meet estimated sales volumes

• Value chain analysis – insource / outsource etc

• Cost analysis; fixed costs, operational costs, ROI etc

• Regulatory environment – marketing, gov. Standards, changes

• NOW – Define the Business Case

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Technology Options / www.hothouse.ie

A Nutraceutical Seaweed Drink

Under Life Science

5x levels of bioactivity = weight loss / health drink

Extraction from an abundant resource

Extraction method patented (PCT)

1. Define the market need

2. Define the size of the opportunity

3. License or spin out?

4. Marketing / Sales plan

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Technology Options / www.hothouse.ie

Audio Thumbnail

Under ICT

Automatically creates a thumbnail of music

Picks out the chorus – in a song, album, or library

Extraction method patented (PCT)

Social Media plug in application

1. Define the market need

2. Define the size of the addressable market

3. Define the business case for a start up

4. Analyse revenue models

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Technology Options / www.hothouse.ie

ProjecTable: an interactive digital interface

Under ICT

Analyses the point of touch on a surface – projection & sensors

Research into the interface market shows it is crowded

Novelty is the point of touch software – Method patented (1st File)

Applications in signage or ambient media??

1. Define the market need

2. Find a problem (Innovation push)

3. Define the size of the opportunity

4. Licensee opportunities?

5. Industry interviews

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Technology Options / www.hothouse.ie

Crypstic: an novel encryption software

Under ICT

Creates a multi-algorithmic keyless encryption

Pen drive – just a platform, taking a cloud based approach

Novelty is know-how

1. Define a niche high value (B2B?) application

2. Define the size of the opportunity

3. Define the customer need?

4. Licensee or spin out?

5. Business case

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Technology Options / www.hothouse.ie

Audio Data protection

Under ICT

Creates a digital watermark which lives in an audio signal

Applications in the music / download copyright space

Regulatory applications?

Novelty is know-how

1. Define the application / problem

2. Define the size of the opportunity

3. Define the customer need? Who pays?

4. Licensee or spin out?

5. Business case

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Technology Options / www.hothouse.ie

Audio Data protection

Under ICT

Creates a digital watermark which lives in an audio signal

Applications in the music / download copyright space

Regulatory applications?

Novelty is know-how

1. Define the application / problem

2. Define the size of the opportunity

3. Define the customer need? Who pays?

4. Licensee or spin out?

5. Business case

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Technology Options / www.hothouse.ie

Pressure or Humidity sensitive HologramUnder Industrial

A novel holographic polymer

Can be individualised, show pressure points, change with humidity

Applications in instrumentation space

IP Patented (series of patents)

1. Define the size of the opportunity

2. Define the addressable market and segments

3. Define the customer need? Where is the problem acute?

4. Licensee or spin out?

5. Business case

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Technology Options / www.hothouse.ie

Laser Doppler Vibrometer LDVUnder Industrial

Uses holographic optics

Much lower cost than traditional models

Applications in instrumentation / industrial measurement space

1. Define the addressable market and segments

2. Define the size of the opportunity

3. Define the customer need?

4. Licensee opportunities?

5. Industry survey

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Technology Options / www.hothouse.ie

Wind and wave estimation software

Under Clean Tech

Uses a novel formula to better estimate wind velocity

Size, velocity, topography all impact location of wind farms

Applications in consulting / software space

1. Define the market size

2. ID the key players in the segment

3. Quantify the value proposition - B-C2 =V OR B-(C+I) = V

4. Industry survey

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Technology Options / www.hothouse.ie

Production analysis in Fermentation process

Under Industrial

Uses novel technique based on fractal analysis - know how

Optimises fermentation process

Automated analysis of digital images

Could be delivered via software system

1. Analyse the size of the problem

2. Define the sectoral applications; brewing, pharma, etc

3. Recommend a high value niche

4. Delivery - License or spin out?

5. Industry survey

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Technology Options / www.hothouse.ie

Stegocrypt: e-document authentication

Under ICT

Allows for authentication of e-documents, steganography

Image encrypted and embedded in document

Application education, security, etc (e.g. Diploma)

Novelty is know-how

1. Define the sectoral applications

2. Define a value of this sectors – size of the problem?

3. Define the addressable market

4. License or spin out?