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NISP CONNECT. Steve Orr European Training Foundation May 2010. The desire. DETI, Lisbon, Matrix, IOD “A high value-added, highly skilled, innovative and enterprising economy” Innovation led, knowledge based economy. Economic Process. Plantation. Rain Forest. 3.
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NISP CONNECT Steve Orr European Training Foundation May 2010
The desire DETI, Lisbon, Matrix, IOD “A high value-added, highly skilled, innovative and enterprising economy” Innovation led, knowledge based economy
Economic Process Plantation Rain Forest 3
The social infrastructure of commercialisation (start-ups) Professional Services Culture of Collaboration Research Institutions, private sector start-ups • Catalyst • Independent • Neutral • Integrator • Pro bono Experienced Entrepreneurs Experienced Executives, Trade associations, Trade unions Capital Providers (VC & angel) Government & Economic development agencies
A Process for New Venture / Cluster Creation Commercialisation Access to Capital Frontiers in Science and Technology “Research Breakthroughs and Market Problems” 25K “The search for the next big thing” Springboard “Group Mentoring Process” halo VC Forum “Access to Capital” Capital providers Experienced Entrepreneurs EiRs Experienced Entrepreneurs Capital Providers (VCs) Research Breakthrough Research Wantrepreneurs Experienced Entrepreneurs Capital providers Entrepreneurs Trade Associations Professional services Professional services Multi- nationals Entrepreneurs Multi- nationals Customised Community Panel Entrepreneurial Education Frameworks“Start up school” Evening Series “Community networking forums” AIF-NISP CONNECT Mentorship “12 month internships” Cluster Incubation Gov & economic development Professional Services Experienced Entrepreneurs Gov & economic development Entrepreneurs Professional Services US Corporations Entrepreneurs World class Content / people Entrepreneurs Vision Professional Services Researchers Capital Providers (VC & angel) NI Entrepreneurs & & Management Talent Researchers Capital Providers (VC & angel) Experienced Entrepreneurs Capital Providers (VC & angel) Experienced Entrepreneurs
New Company Creation Process Professional & Strategic Partners Digital Circle CONNECT Halo angel investors Capital Providers
Key Principals * Global CONNECT • People are the most important asset • People with money • People with ideas • People with skills • People with experience • Relationships ->Trust ->Transactions • ‘Community over Company’ • Culture, Trust, and Integration as drivers • Diverse competencies that can be mobilized quickly
Proof of Concept (pilot phase) April 08 to today: • >450 early stage ventures or wantrepreneurs engaging • Pool of 1,000 experienced volunteers • Pilot: £200 budget and 1 ½ staff
Next phase • Facilitate more • Experienced & the Promising • New leadership platform • Incubate new clusters
Envisioned Future: 2030 BHags: (Big Hairy Audacious Goals) • Recognized world leader in 3 industries • 50,000 new jobs in the 2/3rd high wage • NI Attracts 3X the per capita average of European research funding • 50 multinational companies located in NI due to the innovation pipeline • 20 publicly traded companies NISP CONNECT Core Purpose: • To develop the eco-system where Northern Ireland’s new ventures and new clusters can be created