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Entrepreneurship support at the University of Twente: Acceleration of Regional Economic Growth

Entrepreneurship support at the University of Twente: Acceleration of Regional Economic Growth. Prof. Dr. Aard J. Groen Head of department Entrepreneurship , marketing, strategy and international management Scientific d irector NIKOS, a.j.groen@utwente.nl. Presentation. NIKOS

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Entrepreneurship support at the University of Twente: Acceleration of Regional Economic Growth

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  1. Entrepreneurship support at the University of Twente: Acceleration of Regional Economic Growth Prof. Dr. Aard J. GroenHead of department Entrepreneurship, marketing, strategy and international managementScientific director NIKOS, a.j.groen@utwente.nl

  2. Presentation • NIKOS • Opportunities and results of spin off program TOP from University of Twente • Successes but also issues to solve • Approach of design of support structure • Firm level • University level • Q & A

  3. Activitities in NIKOS • Research • The role of entrepreneurial networking • University-Industry Interaction (ECIU) • E-commerce in SME’s • Global start ups • Database of knowledge intensive firms • Marie Curie Training site • High Tech Small firm Conference0 • Business Development • TOP • NENSI • KEB • Bepart • Mephi • Global starts Research Entrepreneurship in networks Business Development Support Teaching • Training & consultancy • Market orientation HTSF • KVGO/VNO-NCW • Rabo • International consultancy • Teaching • Minor Entrepreneurship, international management • High tech business development • Msc Innovative Entrepreneurship & business • development • ECIU Master Innovation & Entrepreneurship Training and Consultancy

  4. How to stimulate growth in high tech based firms? • Laissez faire, the invisible hand of the market will do its work • Governmental intervention, The visible hand steers the region: e.g.transfer state service organisations to the region; or start an university • Co-ordinate many visible hands by building entrepreneurial networks on micro level

  5. embedded systems MESA CTIT nano-medicine ! tele-medicine Business development &Tech dynamics BMTI IGS-NIKOS Nano, IT, Biomedtech and entrepreneurship research: From fundamental to multidisciplinary work Healthcare@UT !

  6. Forms of creating value in different research types Research Process Valorization Process multidisciplinarity PMC

  7. Entrepreneur Opportunity recognition Opportunity development Value creation Network The entrepreneurial process Imagination

  8. Support throughout enterprise genesis process Organisation development Venture capital & financing Housing/facilities (technopark) organisational support (CI) Concept development Accelerator Incubator Technopark Idea generation Entrepreneurship Network TOP ENT-Training Coaching training, courses, networks “Train the trainer” Monitoring entrepreneurship development

  9. What are the needs of an entrepreneur? • Culture, values, norms • Facilities • Personel arrangements & Systems • Knowledge • Ideas • Assessing the opportunity • Strategic processes • Business plan Scope: from idea to Strategy Entrepreneur and Enterprise Skills: Patterns of Organisation Scale: Economy: Financial means Social Network-Contacts Contacts with: - clients - suppliers - experts - colleagues - support agents • Own capital • bridging development period • Financing investments - Venture Capital - Loans

  10. Support instruments Knowledge & Space Organisational support • Culture, values, norms • Facilities • Personelrrangements & Systems • Knowledge Strategic Coach • Ideas • Assessing the opportunity • Strategic processes • Business plan Scope: from idea to Strategy Coaching, training & Courses Entrepreneur and Enterprise Skills: Patterns of Organisation Scale: Economy: Financial means Contacts Brokerage Soft loans participation Social Network-Contacts • Own capital • bridging development period • Financing investments - Venture Capital - Loans Contacts with: - clients - suppliers - experts - colleagues - support agents

  11. Spin off Companies University of Twente

  12. Economic results: • 500 firms in TOP program (since 1985) • Approx. 400 survived • Total direct employment in region > 4000 fte • Indirect employment ? • Clustering: ICT, biomedical, process technologies, nano (around Mesa+)

  13. Issues • Spin offs are small (medium) sized • Growth is small • Distance to market  death valley • IP returns to University until now via direct financing of research and infrastructure • IP: patents are recently taken by UT: aim long term growth of IP returns • What about creating business in/with existing firms?

  14. Issues • Market orientation versus technology orientation • Operational effectiveness versus Strategic flexibility • Service or product / production • Strategic partnering (TIMP) • Management competencies • Building of industrial networks • Global arena

  15. Characteristics of high ambition spin offs Balanced teams combining management, commercial & technology skills • Culture, values, norms • Facilities • Personelrrangements & Systems • Knowledge Growth ambition Strategic focus based on insights in T-M-O dynamics & value creation • Ideas • Assessing the opportunity • Strategic processes • Business plan Scope: from idea to Strategy Entrepreneurial and market orientation Entrepreneur and Enterprise Skills: Patterns of Organisation Scale: Economy: Financial means Strong connections with market (suppliers-clients) Managing strong & weak ties (in business & academic world) Overcoming death valley (time-to-market vs investments) through access to venture capital(Formal-informal investors) Social Network-Contacts • Own capital • bridging development period • Financing investments - Venture Capital - Loans Contacts with: - clients - suppliers - experts - colleagues - support agents

  16. UT-Entrepreneurship Support Structure: Innovation Lab Twente • Decentralised into research institutes, accelerators • Specialised business development support from NIKOS and BCvB staff • Market-academy connection via accelerators (business developers) in the research institutes • Utility sharing • Venture capital network • UT-strategy, focus on spearheads of research (converging technologies: Nano-IT-biomed) • At least 10-15% of academic staff involved in leading the entrepreneurial activities

  17. Incubators Nanotech accelerator Business & Technology Centre – BTC-Twente

  18. Entrepreneurship in the curriculum (1) 3yr Bachelor / elective Minor 1 & 2 year Master programme

  19. Entrepreneurship in the curriculum (2) • Advanced Technologies • Bachelor programme with “entrepreneurship and business development” as a specialisation • Industrial Design • In Bachelor programme: Market-oriented entrepreneurship • Business & Information Technolgies • In Master programme: Business Development in Networks • For Ph D students: Business planning and technology dynamics • For all students (elective): • Become your own Boss • Managing an SME

  20. Characteristics of successful support of entrepreneurial processes • Multi-dimensional (strategy, organisation, networking, economics) • Multi-level networking: firm level, regional level, global networks enhancing University Industry Interaction across technological fields • Multi-actor: combining heterogeneous competencies e.g. creativity,technology, and marketing competencies

  21. New Program for generating High potential entrepreneurial teams creating business out of UT-technology

  22. Group based support/selection • Kansrijk eigen baas (200 firms created in 2,5 year in Achterhoek) • Individual trajectories (self selection based) • Group based (n=60, 4-6 months) • Self selection + assessment • Intensive training, ideas brought in, process of enterprise concept development

  23. High Tech / High potential Group based selection process • Enterprising with knowledge • Group based (n=60, 4-6 months) + team/concept based 1 year • Target groups students Saxion, UT & persons with work experience • Using high potential business concepts UT

  24. High Tech / High potential Group based selection process • Self selection + assessment • Intensive training, general ideas brought in, process of enterprise concept development • Selection of high potential T-M-F teams matched with high potential business concepts • Small group/personal coaching with high level business coaches • Network with international VC-funds • Office space 1000m2

  25. Expected Results • Groups of 60 persons • 30 firms based on own idea development of participants (after 5 years 25 firms, employment >250) • 5 firms based on high potential ideas matched with teams based on selection during program (after 5 years, 2-3 firms, employment >250) • 2 groups per year, 3 years  employment after 8 year >3000

  26. Questions and remarks?

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