VÆKSTHUS+

1. VÆKSTHUS+ Wellcome to DTU E’ship course for Ph.D. Students Knowledgebased 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 venture (pluralventures) A risky or daring journey or undertaking. Here: a risky commercial undertaking with a perspective Wellcome, all of you!

2. 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.

3. VÆKSTHUS+ • PRESENTATION • 1 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

4. VÆKSTHUS+ • Agenda • Presentation of the Course • The Teacher • Does entrepreneurship matter • Mission Statement • Methodology • Course Plan • Textbook and Materials • Work Plan

5. 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

6. VÆKSTHUS+ JOB SHOP! Don’t do it. Stay focussed Dansk Produktudvikling ApS

9. VÆKSTHUS+ The Importance of Entrepreneurship

10. VÆKSTHUS+ Do we need more entrepreneurs? The Global Entrepreneurship Monitor GEM says YES Variation 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

11. 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

12. VÆKSTHUS+ • Does it Matter what a University does? Massachusetts Institute of Technology • 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

13. VÆKSTHUS+ • Does it matter what a university does? Technical University of Denmark

14. VÆKSTHUS+ Alltogether: entrepreneurship makes a lot of sense – and now to THE COURSE

15. VÆKSTHUS+ Rationale High Tech Venturing is a complex, demanding and interdisciplinary process. Succes depends on multiple competencies, networks, advanced technical knowledge, business experience Multiple CompetenciesEducation and Training NetworksGroup work, Venture Cup Business experienceMentor program Simulator training

16. 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 decision Acquire the qualifications needed.

17. VÆKSTHUS+ Enable the Entrepreneur • The Near-Entrepreneurial Experience • Introduction to a Working Life • Develop trust in own competencies • Get inspiration from successfull entrepreneurs • Enable the Entrepreneur • Learn how to start • Study experiences • Train Methods and Principles • Qualify Competencies • Develop Business Talents • Create New Companies

18. VÆKSTHUS+ Learn How to Start and run a Company • 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 • Enable the entrepreneur • Learn how to start • Study experiences • Train Methods and Principles • Qualify Competencies • Develop Business Talents • Create New Companies

19. VÆKSTHUS+ Study experiences • Case Stories: • Entrepreneurs • Consultants • Investors • Enable the entrepreneur • Learn how to start • Study experiences • Train Methods and Principles • Qualify Competencies • Develop Business Talents • Create New Companies

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

21. VÆKSTHUS+ Train Methods and Principles - 2 • Business Development • Ideas • Pre-analysis • Information research • Information analysis • Business model development • Business Planning • Presentation & Pitching

22. VÆKSTHUS+ Qualify Your Competencies • Realistic perception of opportunities • Qualifying your basis of decision • Develop specific self-confidence • Make a balanced decision • Enable the entrepreneur • Learn how to start • Study experiences • Train Methods and Principles • Qualify Competencies • Develop Business Talents • Create New Companies

23. VÆKSTHUS+ Develop your networks • 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! • 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

24. VÆKSTHUS+ Develop your business talent • 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 • 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

25. VÆKSTHUS+ 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 • 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

26. VÆKSTHUS+ The COURSE PLAN - 1 • 1. lecture: 3 April 2007 • Presentations • Introduction to the course • Entrepreneurial basics • Opportunity-driven creativity • Meet your team • 2. lecture: 10 April 2007 • Start-up strategies • Business planning

27. VÆKSTHUS+ The COURSE PLAN - 2 • 3. lecture: 17 April 2007 • 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

28. VÆKSTHUS+ The COURSE PLAN - 3 • 4. Lecture, 24 April 2007 • Busines Law • Select the right type of corporation/enterprise • Pro’s and con’s of holding companies • White Collar Workers’ Act • Product Liability • Agreements in trade and between shareholders • IPR strategies for start-ups • The IPR Protection Shield • The basics of a patent • Economy - IPR relationships for start-ups

29. VÆKSTHUS+ The COURSE PLAN - 4 • 5. Lecture. 1 May 2007 • Business management • The art of business management • The basics of running a board • Market Research and - Analysis • Michael Porters Market model • The 5-forces in action • The value chain • Sales and marketing • Sales strategies in high tech venturing • What makes you a successful sales person?

30. VÆKSTHUS+ The COURSE PLAN - 5 • 6. Lecture. 8 May 2007 • Exams • Formalities • Present your business plan • Exit • The course in retrospective • Entrepreneurship and the history of ideas

31. 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 at • www.entrepreneur.dk

32. VÆKSTHUS+ WORK PLAN Reference is made to the Course Manual • Tentative time schedule: • Kick-off: Week 14 Team formed. 3 April • 1. milestone: Week 16 Product /business concept OK 20 April • 2. milestone Week 18 Market research finalised 3 May • Project 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

33. VÆKSTHUS+ BREAK!