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Innovation Start up Business angels

Innovation Start up Business angels. Traditional approach. Creative approach. Solution. Innovation. Some highlights. What is Innovation?. A combination of known elements in a principle new manner A new solution for an old – or new- problem. Evolution and innovation.

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Innovation Start up Business angels

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  1. Innovation Start up Business angels

  2. Traditional approach Creative approach Solution Innovation Some highlights

  3. What is Innovation? • A combination of known elements in a principle new manner • A new solution for an old – or new- problem

  4. Evolution and innovation • Nature gives many examples for innovation

  5. Play instinct: Discovery by accident Emergencies and necessities: Pressure to survive Perfection of existing procedures: Pressure by competition Planned research and development: Systematic product development Driving forces of innovation

  6. 1. (1800 – 1850) Steam engine, Cotton 2. (1850 – 1900) Steel, Railway 3. (1900 – 1950)Electro, chemical, 4. (1950 – 1990)Oil, cars 5. (1990 – 20XX) IT, communication tech.   6. (20XX – 20YY)Personal needs, environment, resources (Kondratiew/ Nefiodov) Basic innovations and business cycles

  7. Driving force sustainability

  8. Promising areas of innovation • Smart energy and transportation • Information technology • Materials and nanotechnology • Biotech and nutrition • Cross sciences: • Environmental technologies, • Resource efficiency • Social sciences

  9. Innovation is one of the most important keys to success Average Shareholder Return vs. Innovativeness Rating 60% 50% "Top management's commitment to and focus on increasing its organization's innovative ability could lead to significant bottom line result over and above typical costcutting and re-engineering initiatives" Source: ADL innovation survey 40% 30% 20% 10% Average Annual Shareholder Return 1986-96 0% -10% -20% 3,00 4,00 5,00 6,00 7,00 8,00 9,00 Innovativeness Rating Innovativeness Rating: Based on America’s Most Admired Corporations, Fortune Magazine ranking of 578 U.S. companies based on executive peer ratings and investment analyst evaluations. Source: Arthur D.Little , 2005

  10. The biotope of start - ups

  11. The situation of young entrepreneurs • Young • Inspired and excited • Full of good ideas • Inexperienced • Specialized • Poor financed • Filled with the courage of ignorance

  12. The way to success: Evaluate your biotope • Look into the market • Look to the competition • Analyze the financial demand • Ask your partner • Ask experienced people • Look for a business angel • Look for the best people • Look for subsidies and financial partners • Look into your mind: Are you strong enough?

  13. Function and advantages of a business angel • Experience in founding and developing a company • Large business network • Assistance in funding and financing • Assistance in search for partners • Assistance in marketing and distribution • Credibility respective banks and equity partners • Assistance and help in critical situations

  14. The universal rule • The Start – up period lasts three times longer and costs in minimum twice as much as planned before.

  15. How to fail certainly • Start immediately after having „the great idea“ • Take big debts and guarantees • Contemn possible corresponding and competing ideas • Contemn the ado of elaborating a business plan • Rent a big office, employ two secretaries • and buy a big corporate car front- end • Feel as the one and only in the field • Do everything alone • Do not listen to experienced people

  16. How to succeed • Follow the remarks given before • Do not expect immediate success • Expect hard competition • Be tough when the whole thing seems to fail. • Be careful regarding your family life, • watch out not to have private additional trouble • Believe in yourself. • There are not only backlashes but, sometimes, • also lucky incidents

  17. …… Thanks for your attention! THINK !

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