FINLAND / SINGAPORE / POLAND / SOUTH KOREA / TAIWAN / CHINA / INDONESIA / SWEDEN / RUSSIA

Will CardwellSenior Advisor, Entrepreneurship and Venturing

Visiting Professor, Venture Capital and EntrepreneurshipCo-Founder, Aalto University Center for Entrepreneurship

December 3, 2013Mons, Belgium

The Finnish Entrepreneurial Ecosystem

All Credit to:

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Aalto Entrepreneurship Society, Startup Sauna Foundation, www.slush.orgthe breakthrough teams at teams of Rovio, Supercell and others,and Brad Feld, Startup Communities, for the framework.

Plus Startup Weekend Helsinki, Mehackit and many others

Photos: Yu Shen and Slush photography team

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Question:Has the Finnish Startup

Community Broken Through?

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Evidence from www.Slush.org andthe press…

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Principles of a Vibrant Startup CommunityThe “Leaders and Feeders” Model, or

The “Boulder Thesis

Why Boulder? Ask Kauffmann Foundation…

Participants in Startup Communities

• Entrepreneurs• Government• Universities• Investors• Mentors• Service Providers• Large companies

FEEDERS

LEADERS

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4 Key Properties ofSuccessful

Startup Communities

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1. Entrepreneurs mustlead the Startup Community, and…

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2. The leaders must have a long-term commitment

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3. the Startup Community must be inclusive of ANYONEwho wants to participate

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4. and there must be continualengagement of the entireentrepreneurial stack! …

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4. yes, the whole stack…

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!!!!

University Involvement in theGrowth/ Startup EcosystemROLES• A community catalyst: a nerve

center where the startupcommunity convenes andinformation spills over-

• A magnet, teacher and pipelinefor the next generation ofentrepreneurial and technologytalent

• A source of insight, ranging frominnovative ideas that can becommercialized to policyrecommendations

KEY CHALLENGE• Cross-campus collaboration is

generally not in the DNA of theuniversity

• Aalto seeks to changethe game by buildingclose collaborationacross its community

Brad Feld, Startup Communities, 2013

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A few observations aboutKymenlaakso and Mons…

FINLAND / SINGAPORE / POLAND / SOUTH KOREA / TAIWAN / CHINA / INDONESIA / SWEDEN / RUSSIA

Will CardwellWill.cardwell@aaltoee.fi

December 3, 2013Mons, Belgium

Thanks!