Will cardwell skolkovo presentation - 2012

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Presentation to Skolkovo

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  • 1.Accelerating Entrepreneurship in a University Environment Will CardwellAalto University Center for Entrepreneurship www.ace.aalto.fi / will.cardwell@aalto.fi

2. Agenda Aalto University Overview Intro: Short Case Study What is ACE? Five Points About Accelerating Growth Aaltos Building Blocks Questions 3. Aalto UniversityA merger of three leading Finnish highereducation institutes: business, art &technology 4. Aalto UniversityA unique community: 4,300 faculty and staff, including 300 professors 20,000 students 75,000 alumniEndowment: 1 Billion EurosTotal annual budget 400 million (2011)Vision 2020 The best connect and succeed at Aalto University, an institution internationally recognized for the impact of its science, art and learning. 4 5. Case Study to Establish Way of Thinking: Valimo WirelessWHAT PUT US OVER THE TOP? Finnish NetworkHR Agility Facebook9 / 11 Roberto CarlosFocused IPReverse Learning WHAT HELD US BACK?Complex Ecosystem Dripfed Finance Unproductive PartnershipsDistressed Customers Small home market Uneducated Public Fragmented Technical Solutions 6. ACE Co-Creates Growth within the Aalto CommunityACE ResourcesAalto Community 7. ACEs Resources22 Core TeamPeople 5 EIRs, 30+ CoachesACE Competence CommercializationProcess Process for screening and development Stanford Partnership, StartupPrograms Sauna, Summer of Statrups, Startup Life3.5 MEUR for AaltoFunding 2.2 MEUR from TEKES 8. ACE Technology Transfer Process 9. 5 Necessary Ingredients for Entrepreneurship Positive Energy and Initiative T-Shaped People Extreme Work / Internationalism Transparency, Community and Pay itForward Black Swan Thinking 10. The Aalto Startup Community What Happened in 2011Blaast 3M investments by global investors, launching mobile cloud in southeast Asian operatorsEniram name fastest growing Greentech company in Deloitte fast 500, Fastest growing company in FinlandMulti Touch launched worlds largest multiuser, multitouch display, 2M investment in AugustRemedy Entertainment Death Rally highly successful on iOS, with 1.8 paid download.Senseg named on of Time Magazines 50 most important inventionsRovio sets every possible growth record in mobile gaming, showing how to branch into new marketsNexstim 13M fro, and a steady stream of newsflow regarding new results of Navigated Brain StimulationMendor 8 million euro of VC financing, Red Herring 100 finalistModz significant financing round, founder Salla Koski wins 2nd prize among European woman inventors.Campalyst Startup Sauna winner who went on to win of Seedcamp NYScoopinion winner of 250k Sanoma Foundation Innovation AwardFlowdock Announced $650k funding round of US investors and seed investors, including Mrten Mickos. 11. Aaltos Building Blocks1. Aalto Ventures Program2. Summer of Startups3. Startup Sauna4. Startup Life5. Out to the Community! 12. Aalto Ventures ProgramAVP Curriculum structure Is a minor offered widely to Aalto students Integrative project experience is relevant for building new scalable businessboth in new and existing firms integrates research, teaching, and outreachactivities Skills and builds on research-based insights and knowledgepractice-based experience includes a heavy dose of experiential learningin cross-disciplinary teams Inspiration connects students, faculty, and the venturingcommunity 13. 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 14. Summer of Startups Intern Substitute10 weeks, 40 students, Global. 15. Startup Sauna7 weeks, 300 applicants globally, 20 teamsCoached by Serial Entrepreneurs 16. 16 17. THANKS!Will.Cardwell@Aalto.f