Accelerating Entrepreneurship in a University Environment

Will CardwellAalto University Center for Entrepreneurship

www.ace.aalto.fi / will.cardwell@aalto.fi

Agenda

• What is ACE?• Short Case Study of Valimo Wireless• Five Points About Accelerating Growth• Aalto’s Building Blocks

– New Venture Formation• Questions

ACE Co-Creates Growth within theAalto Community

ACE Resources Aalto Community

ACE’s Resources

22 Core Team 5 EIRs, 30+ CoachesPeople

Process

Programs

Funding

ACE Competence Commercialization Process for screening and development

Stanford Partnership, Startup Sauna, Summer of Statrups, Startup Life

3.5 MEUR for Aalto2.2 MEUR from Tekes

Deal Flow

300 250 30 10

Licenses

Immaterial

Property

Rights

Innovation ‘fast track’

EvaluationProposal

Concept development

Validation

Back to community with feedback

10

550

21510

Directed to other supporting organizations

Start-ups

WHAT PUT US OVER THE TOP?

Facebook

Roberto Carlos

HR AgilityFinnish Network

Reverse LearningFocused IP

WHAT HELD US BACK?Complex Ecosystem

Unproductive Partnerships

Distressed Customers

Dripfed Finance

Fragmented Technical Solutions

Uneducated Public

Small home market

The Case of Valimo Wireless

9 / 11

5 Necessary Ingredients

• Positive Energy and Initiative• T-Shaped People• Extreme Work / Internationalism• Transparency, Community and Pay it

Forward• Black Swan Thinking

The Aalto Startup Community1. Blaast Oy: Investments byVeturi Partners, Ambient Sound, and Steve Blank, launching mobile cloud application in southeast asian operators2. Eniram Ltd: Name fastest growing Greentech company in Deloitte fast 500, Fastest growing company in Finland3. Multi Touch Ltd: Launched worlds largest multiuser, multitouch display, announced 2m euro investment in August4. Remedy Entertainment Ltd: Death Rally highly successful on iOS, with 1.8 paid download.5. Senseg Ltd: Named on of Time Magazines 50 most important inventions (a portfolio company of Jussi and Moaffak’s Veturi Partners)6. Rovio: revenues reportedly rising from about 7m in 2010 to 70m in 2011, setting every possible growth and penetration record in mobile gaming, and showing how to branch into new medias and industries7. Nexstim: raised 13m euro in new financing, and a steady stream of newsflow regarding new results of Navigated Brain Stimulation8. Mendor Ltd: raised 8.1 million euro of VC financing, Red Herring 100 finalist9. Modz: raised a significant financing round, founder Salla Koski wins second prize among European woman inventors.10. Campalyst: Startup Sauna winner who went on to win of Seedcamp NY11. Scoopinion: winner of 250k Sanoma Foundation Innovation Award12. Flowdock: Announced $650k funding round of US investors and seed investors, including Mårten Mickos.13. Zokem: sold to US Nasdaq company Arbitron for 11m dollars (plus earnout)

Aalto’s Building Blocks

1. Aalto Ventures Program2. Summer of Startups3. Startup Sauna4. Out to the Community!

New Venture Formation Class

• Session 1 – Intro & opp assessment• Session 2 – Sales & Marketing• Session 3 – Customer discovery, go-to-market

– Gate I: Opportunity Assessment• Session 4 – Financial modeling• Session 5 – R&D• Session 6 – Financing

– Gate II: Operating Plan• Session 7 – Capitalization and example Gate 2• Session 8 – The VC presentation

– Final Presentation

THANKS!Will.cardwell@aalto.fi