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Business support activities in HUT

Business support activities in HUT. Petro Suvanto Business Consultant OIIC 2.4.2004. Academic Entrepreneurship. Entrepreneurial spirit combined with the academic education Source for the hi-tech growth companies Promoted by the universities and the government. Topics. Basics

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Business support activities in HUT

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  1. Business support activities in HUT Petro Suvanto Business Consultant OIIC 2.4.2004

  2. Academic Entrepreneurship • Entrepreneurial spirit combined with the academic education • Source for the hi-tech growth companies • Promoted by the universities and the government

  3. Topics • Basics • Business idea • Team • Capital • Inventions • Companies • Tools • Business consultancy • InnoTULI • InnoLinko • Spinno • Networking

  4. Basics • Business idea • Team • Capital

  5. Business idea (1/3) • What you are selling? • products, knowledge, etc. • To whom you are selling? • businesses, consumers • How you are selling? • Licensing, one-time sales

  6. Business idea (2/3) • Examples: • Selling new copy machines • Software subcontracting • Teaching new methods for IPR management • Tool for efficient logistics • etc.

  7. Business idea (3/3) Should be clear to you before you can sell it to your customer!!

  8. Team (1/3) • Alone is hard to success • You have only 24-hour a day! • You are not a master of all trades! • With trusted partners it is easier to continue • more ideas • shared responsibility • faster process

  9. Team (2/3) • Different types of skills are needed • technological skills • managerial skills • marketing skills

  10. Team (3/3) However, typical number of founders is 2-3 people!!

  11. Capital (1/5) • Money is needed to run a business: • salaries • equipments • travelling • marketing • external services • etc

  12. Capital (2/5) • Sources of the funding: • own resources • banks • business angels • venture capitalists • TEKES and other public sources • customers

  13. Capital (3/5) • In the business idea stage, need for the capital not very high • much can be done by own work • public sources available

  14. Capital (4/5) • In a mature company, money for the operation comes from the customer

  15. Capital (5/5) • In between, the funding may come from external sources • External capital enhance the business growth with the price of losing equity

  16. Luck

  17. Inventions • HUT acts with Finnish Foundation for Inventions to support protections and commercialization of the inventions done by the personnel and the students of HUT • Two innovation managers in HUT: • Panu Kuosmanen • Tuomas Mennola

  18. Companies (1/2) • Each year dozens of companies are established by the students and the personnel of HUT • Companies can be established based on the research results • Business activities can be carried out while working or studying • However, working full-time in a company gives creditability

  19. Companies (2/2) • One or two man consultant companies • Software companies • Companies based on the inventions created in the laboratory • Companies based on the knowledge and the contacts received in the laboratory • Companies based on the ideas derived from the academic studies

  20. Tools for business support • Business consultancy • InnoTULI: support for external services • InnoLinko: support for business space • Spinno Business Development Centre • Networking

  21. Business consultancy • From business idea stage to early months of the company • an ousider look to business idea and team • 2-10 meetings with the entrepreuneurs during one to six months • in each meeting action points are given

  22. InnoTULI (1/5) • Money to support business ideas by external services • InnoTULI is a TEKES funded project to support commercialization of the research results in Otaniemi area • Main sources of business ideas are HUT and VTT (Technical Researach Center of Finland) • Fast process

  23. InnoTULI (2/5) • The ideas are collected, evaluated, and the mature ones are supported • A mature case: reasonable business idea with the commitment to pursue further • Each year 150 prospective ideas of which 60-80 cases funded

  24. InnoTULI (3/5) • The measurement to support the cases are evaluated and decided by the InnoTULI experts • consensus opinion of at least 4 experts • project group (10 persons) makes a final decision each month • However, all the actions must be approved by the entrepreneurs!!

  25. InnoTULI (4/5) • Support for the cases can be: • Market research • Business model • Legal services • Contacts with the prospective clients • Markets • etc

  26. InnoTULI (5/5) • Activities last from one month to three months • 35-45% of the cases are commercialized (company established or licencing agreement) Contact persons in HUT: Petro Suvanto and Panu Kuosmanen

  27. InnoLinko (1/4) • Space to develop business ideas • Early-stage business incubator • Located in Otaniemi Technology Park • For the students and researchers of HUT • The committed teams with a business idea • Company may have been founded beforehand

  28. InnoLinko (2/4) • Open office or individual rooms • Free or subsidized • Available for 6 months • Flexible transfer to the inbubator, when the company gets funding or reaches positive cash flow

  29. InnoLinko (3/4) • Mailbox • Fax • Copy machines • Internet connection • Conference rooms

  30. InnoLinko (4/4) • Support for Business development • establishing a company • business plan • networking • weekly round table discussions Contact person in Otaniemi region: Tuomas Maisala

  31. Venture Cup • A business plan competition • Expert coaching and feedback to the teams • Participation free, monetary prizes!! Contact person in HUT: Maija Hellman

  32. Spinno Business Development Centre • Training activities focus on • business development • growth and internationalization • Networking • HelpDesk • Aiming for the success of participating companies

  33. Spinno HiTech (1/3) • A year-long business development program for new entrepreneurs and companies • Program includes • 20 seminar days • 3-7consultancy days • HelpDesk • Heavily subsidized

  34. Spinno HiTech (2/3) • Seminar days (4-6 hours), once or twice a month, cover basic business areas: • financial planning an accounting • marketing and market information • selling • IPR and contractual aspects • Human resources and management • Growth and internatiolalization

  35. Spinno HiTech (3/3) • Consultancy days for specific needs of a company • Panel of high-level advisors available, use of own consultant allowed

  36. Spinno HelpDesk • Quick support for • juridical questions • financicial and strategic aspects • recruiting and human resources • market and competition information • Short consultancies free!

  37. Networking (1/3) • Networks within HUT,Otaniemi, Helsinki region, elsewhere in Finland (e.g. Southern Savonia) • European networks (Proton, IRC) • Contacts to all over the world

  38. Networking (2/3) • Mentors for the companies established by the students • HUT alumni • HUT personnel • Spinno mentors • Business angels

  39. Networking (3/3) • Customers • Project partners • Strategic partners • University partners

  40. Targets • Founding new companies faster • Profitable business • Business plan for VC:s

  41. Companies • Icareus Oy: content expertise for digi-TV • Adaptamat Oy: magentic shape materials • Trueflaw Oy: material qualification • Jamera Networks Oy: recycling school books • Finmeas Oy: environmental measurements

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