Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Wellcome...

Institut for Produktion og LedelseDanmarks Tekniske Universitet

John Heebøll

VÆKSTHUS+

Wellcome to DTU E’ship course for Ph.D. StudentsKnowledgebased Entrepreneurship 2006

Entrepreneurship is "the process of looking at things in such a way, that possible solutions to problems and perceived needs may evolve in venturing."

Saskatchewan Government; Ministry of Learning

Wellcome, all of you!

venture (plural ventures)A risky or daring journey or undertaking.

Here: a risky commercial undertaking with a perspective


John Heebøll

VÆKSTHUS+

Skulle jeg ønske mig noget, da ville jeg ikke ønske

mig rigdom eller magt, men mulighedernes

lidenskab. Det øje som overalt, evigt ungt, evigt

brændende ser muligheder

Søren Kirkegaard

Were I given a wish, I would not want wealth or power,

but the passion of opportunities. The eye that

everywhere, ever young, ever passionate, identifies

opportunities.


John Heebøll

VÆKSTHUS+

PRESENTATION1 minute each. • Name• Specialties - interests• How many years in further education?• If intl. student: from where?• If visitor: why here – and from where ?• Any particular message to the audience ?

Take notes if you would invite the presenter

to join your team – or be part

of hers/his


John Heebøll

VÆKSTHUS+

Agenda

Presentation of the Course• The Teacher• Does entrepreneurship matter • Mission Statement• Methodology• Course Plan• Textbook and Materials• Work Plan


John Heebøll

VÆKSTHUS+

The Teacher• M.Sc. CE. DTH, 1974• Mil. service, Research Dept.• VIP, DTH, 1976 – 1988• DTU Incubator 1988 – 2000• DTU Innovation 2000 – 2004• Assoc. prof., E’ship, IPL, 1992 ->

• CEO, Gastrotechnology, 2004 -> 2006• Boardmember, app 15 Start-ups• Chairman, Swantec ApS• Boardmember, Image Metrology A/S, GPT• Own company:

Danish Product Development ApS


John Heebøll

VÆKSTHUS+

Dansk Produktudvikling ApS

JOB SHOP! D

on’t do it

. Sta

y focu

ssed


John Heebøll


John Heebøll

VÆKSTHUS+

The Importance of Entrepreneurship


John Heebøll

VÆKSTHUS+

Do we need more entrepreneurs?The Global Entrepreneurship Monitor GEM says YESVariation in rates of entrepreneurship may account for as much as one-third of the variation in economic growth

Best Countries: 15% of New Companies Start growing rapidly

Denmark: 5% of New Companies expand


John Heebøll

VÆKSTHUS+

Do we need more Entrepreneurs ?

YES! They make our industry more robust

• New industrialized nations take over classic industry

• Large companies do incremental innovation. Radical break-through is the entrepreneur’s turf

• New knowledge and technology in an increasingly global marketplace creates ever more sophisticated business opportunities – waiting for the skilled entrepreneur, capable of grasping and capturing ideas


John Heebøll

VÆKSTHUS+

Does it Matter what a University does?

• One in four faculty involved in technology venturing

• 5.000+ companies founded by graduates and faculty since 1861 (in av.: 35/yr. DTU: probably 5 – 10 max)

• Employees at MIT– companies > 1.000.000

• Sales of MIT- companies > $250 Billion/yr

• If a nation: 24th largest in the world

Massachusetts Institute of Technology


John Heebøll

VÆKSTHUS+

Does it matter what a university does?Technical University of Denmark


John Heebøll

VÆKSTHUS+

Alltogether: entrepreneurship makes a lot of sense – and now to

THE COURSE


John Heebøll

VÆKSTHUS+

Rationale

High Tech Venturing is a complex, demanding and interdisciplinary process.

Succes depends on multiple competencies, networks, advanced technical knowledge, business experience

Multiple Competencies Education and Training

Networks Group work, Venture

Cup

Business experience Mentor program

Simulator training


John Heebøll

VÆKSTHUS+

Objectives• Enable the inner entrepreneur• Learn how to start a company• Study experiences• Train methods and principles =

acquire applicable competencies• Develop business talent: learn to see the

business opportunity – learn to capture it.

• Create new companies

Business start-up takes a qualified decisionAcquire the qualifications needed.


John Heebøll

VÆKSTHUS+

Enable the Entrepreneur

Enable the Entrepreneur Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies

• The Near-Entrepreneurial Experience• Introduction to a Working Life• Develop trust in own competencies• Get inspiration from successfull entrepreneurs


John Heebøll

VÆKSTHUS+

Learn How to Start and run a Company

Enable the entrepreneur Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Create New Companies

Subjects covered:• Basic experiences and practicalities• Creativity and new business ideas• Business models and start-up strategies• Business planning• Marketing economics• Financing• Business administration• Business law• Intellectual property rights• Management


John Heebøll

VÆKSTHUS+

Study experiences


Case Stories:• Entrepreneurs• Consultants• Investors


John Heebøll

VÆKSTHUS+

Train Methods and Principles - 1


Project-oriented Group Work• Opportunity-driven Creativity• Pre-analysis• Information research• Information analysis• Business model development• Business Planning• Presentation & Pitching


John Heebøll

VÆKSTHUS+

Train Methods and Principles - 2

Business Development• Ideas• Pre-analysis• Information research• Information analysis• Business model development• Business Planning• Presentation & Pitching


John Heebøll

VÆKSTHUS+

Qualify Your Competencies


• Realistic perception of opportunities• Qualifying your basis of decision• Develop specific self-confidence• Make a balanced decision


John Heebøll

VÆKSTHUS+

Develop your networks

Enable the entrepreneur Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies

• Meet new people – in the group – and outside• Start working with them in a start-up context• Meet some of the players within financing and

consultancy• Meet your customers – your jury!


John Heebøll

VÆKSTHUS+

Develop your business talent

Enable the entrepreneur Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies

• Get to know your marketplace• Find out what can be sold and what not• Develop your capacity for sensing business

opportunities• Develop ”the silent merchant”: the continous

outlook for business opportunity coupled with the continous calculator, working residently somewhere in the deep of your mind


John Heebøll

VÆKSTHUS+

Create New Companies

Enable interest i entrepreneurship Learn how to start Study experiences Train Methods and Principles Qualify Competencies Develop Business Talents Develop your networks Develop your business talent Create New Companies

After the course • Basic competences acquired• Insight into the knowledgebased

entrepreneurial culture• Relations to pre-seed venture capital developed• A business idea ready to be launched

You earned your wings Now try if they can bear


John Heebøll

VÆKSTHUS+

The COURSE PLAN - 1

1. lecture: 3 April 2007

• Presentations• Introduction to the course• Entrepreneurial basics• Opportunity-driven creativity• Meet your team


• Start-up strategies• Business planning


John Heebøll

VÆKSTHUS+

The COURSE PLAN - 2


• Business economics Budgets, cash flow projections

• Financing Pre-seed and early-stage investors:

Seed Capital Denmark.Vækstfonden

A venture capital company • A case by Ulla Brockenhuus Schack


John Heebøll

VÆKSTHUS+

The COURSE PLAN - 3

4. Lecture, 24 April 2007

• Busines LawSelect the right type of corporation/enterprisePro’s and con’s of holding companiesWhite Collar Workers’ ActProduct LiabilityAgreements in trade and between shareholders

• IPR strategies for start-upsThe IPR Protection ShieldThe basics of a patentEconomy - IPR relationships for start-ups


John Heebøll

VÆKSTHUS+

The COURSE PLAN - 4

5. Lecture. 1 May 2007

• Business managementThe art of business managementThe basics of running a board

• Market Research and - AnalysisMichael Porters Market modelThe 5-forces in actionThe value chain

• Sales and marketingSales strategies in high tech venturing

What makes you a successful sales person?


John Heebøll

VÆKSTHUS+

The COURSE PLAN - 5

6. Lecture. 8 May 2007

• ExamsFormalitiesPresent your business plan

• ExitThe course in retrospectiveEntrepreneurship and the history of ideas


John Heebøll

VÆKSTHUS+

MATERIALS

• Business Start-up for Knowledge based Entrepreneurs.

• Overheads• Hand-outs• The Ph.D. Student’s Guide to the

Entrepreneurial Course. (The Course Manual)• Start-up Handbook (McKinsey)

All items are available atwww.entrepreneur.dk


John Heebøll

VÆKSTHUS+

WORK PLANReference is made to the Course Manual

Tentative time schedule:

Kick-off: Week 14 Team formed. 3 April1. milestone: Week 16 Product /business concept OK 20 April2. milestone Week 18 Market research finalised 3 MayProject deadline: Week 20 Business plan completed 16 May

Deadline: submit business plan no later than Friday 18 May at 12:00 am.

Exams : Tuesday 22 May. Plan TBD


John Heebøll

VÆKSTHUS+

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Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Wellcome...

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