About Department of IT Management Approaches to Innovation & Entrepreneurship Motivation Ideation...

About Department of IT Management Approaches to Innovation & Entrepreneurship Motivation Ideation Coloplast, Christian Jlck Best Practice Business Plans Business Models Business Plans About Venture Cup Other Resources Thank you SLIDE OVERVIEW

The department of information technology management is one of the largest of its kind in Europe. Our aspirations are equally grand for our research and for our degree programmes. The departments research concentrates around research themes which are topical, popular, inter-disciplinary and dynamic in nature. Currently ITM focus on social business, open big data, the cashless society, internet of things, and IT in mergers and acquisitions. ABOUT ITM

The Department of IT Management conducts research within the following research areas related to information technology and information systems: Design Implementation Use and exploitation Information management ABOUT ITM

We strive for a high level of collaboration with representatives from industry and society (so-called engaged scholarship) while also organizing our research to accommodate for the fast-moving pace and radical innovation that characterizes the IS research field. We achieve this by organizing part of our research around themes that address societal or business challenges. The themes are topical, popular, inter-disciplinary and dynamic in nature. In addition to the research themes, ITM still maintains the more traditional research areas for the disciplinary development of its researchers. ABOUT ITM

1.Creativity Thinking linear approaches 2.Design Thinking iterative/interactive design approaches 3.Cooperative Thinking network approaches APPROACHES

MANUEL CASTELLS Networks are the fundamental stuff of which new organizations are and will be made. And they are able to form and expand all over the main streets and back alleys of the global economy because of their reliance on the information power provided by the new technological paradigm. The Information Age. Economy, Society and Culture. Volume 1. Second edition 2000 (org. 1996), p. 180. Blackwell Publishers.

THE CYCLE OF HARVESTING FOR INNOVATION 1. Who should do the harvesting? Proposed methodologies: A. Kienholz: Systems ReThinking Systems ReThinking C. Churchman: The Design of Inquiring Systems

2. Creating the right team Proposed methodologies: E. Wenger: Digital Habitats Digital Habitats E. Wenger and J. Lave: Communities of Practice Communities of Practice THE CYCLE OF HARVESTING FOR INNOVATION

3. Find and express generative themes Proposed methodologies: P. Freire: Pedagogy of the Oppressed Pedagogy of the Oppressed Knud Illeris: Transformative Learning THE CYCLE OF HARVESTING FOR INNOVATION

4. Finding and cultivating knowledge assets Proposed methodologies: Max Boisot: Social Learning Cycles in I-Space Social Learning Cycles in I-Space David Boje: Narrative Methods for Organizational and Communication Research Narrative Methods for Organizational and Communication Research THE CYCLE OF HARVESTING FOR INNOVATION

5. Finding and analyzing patterns in networks Proposed methodologies: V. Allee: Value Network Analysis Value Network Analysis K. Stephenson: Social Network Analysis Social Network Analysis THE CYCLE OF HARVESTING FOR INNOVATION

6. Pick the innovation potentials from the landscapes Proposed methodologies: Haystack Roos & Oliver: From fitness landscapes to knowledge From fitness landscapes to knowledge THE CYCLE OF HARVESTING FOR INNOVATION

7. Strategy and business models Proposed methodologies: T. Clark: Business Model You Business Model You A. Osterwalder & Y. Pigneur: Business Model Generation Business Model Generation E. Rice: The Lean Startup The Lean Startup THE CYCLE OF HARVESTING FOR INNOVATION

8. Seed for the next harvest Proposed methodologies: H. Mikkelsen & J.O. Riis: Project Management & Project Management E. Ostrom: 8 Principles for Managing A Commons 8 Principles for Managing A Commons THE CYCLE OF HARVESTING FOR INNOVATION

Goethe said on a life in joy and serious action: At least each day you should Hear a little song Read a little poem See a beautiful picture And if possible say a couple of reasonable wise words life is action, life is contemplation. THE CYCLE OF HARVESTING FOR INNOVATION

Students - Faculty - Employers - Denmark MOTIVATION

As part of the innovation strategy, a change of culture will be initiated in the education system with more focus on innovation. More focus on innovation in education is the first step on the path towards more innovative employees and to increasing the motivation of students to become entrepreneurs. The ability to be innovative should be a fundamental element of all education from primary school to PhDs. STRONG GOVERNMENT INCENTIVES

The Government will implement the following initiatives relevant to educations: Increase practice-elements at all education levels to support innovation Support innovation in the education of teachers and educators Strengthen the competences in innovation and entrepreneurship in vocational education Strengthen the innovative and business-oriented competences of PhD students Ensure new learning targets, and forms of teaching and exams Implement an innovation competition for students in primary and secondary education Strengthen the integration of innovation and entrepreneurship in education programmes SEVEN NATIONAL ACTION POINTERS

CLOSING THE GAP BETWEEN BUSINESS & EDUCATION A European survey initiated by the leading NGO in Entrepreneurial Education Programmes: JA-YE Europe Research conducted by FreshMinds Limited, 2011 517 Business leaders participated.

DISHARMONY IN NEED AND DEMAND The majority of businesses (approximately 70%) feel that the development of entrepreneurial and financial skills is particularly poor in their country. The soft skills necessary for entry into employment (such as confidence, presentation skills, networking, motivation, drive and teamwork) are felt to be particularly lacking. - European Survey, Closing the gap between business and education, page 4, 2011. http://archive.ja-ye.org/Download/CEO%20Survey.pdf

+33% OF EMPLOYERS WANT DIRECT ENTREPRENEURIAL EXPERIENCE! -according to a survey of 225 employers by Millennial Branding, a generation Y research and consulting firm

STAND OUT. DIFFERENTIATE YOURSELVES! With so many graduates now on the market, employers will look for evidence of skills and work experience which will make you stand out from the crowd. Start gathering them now or work on what you've got so you are ready to impress recruiters. Source: usnews.com

DID YOU KNOW 3.0 SHIFT HAPPENS Video: https://www.youtube.com/watch?v=F9WDtQ4Ujn8https://www.youtube.com/watch?v=F9WDtQ4Ujn8

TOP 10 SKILLS RECRUITERS WANT (#1-5) 1. Commercial awareness (or business acumen) 2. Communication 3. Teamwork 4. Negotiation and persuasion 5. Problem solving

TOP 10 SKILLS RECRUITERS WANT (#6-10) 6. Leadership 7. Organisation 8. Perseverance and motivation 9. Ability to work under pressure 10. Confidence

ANOTHER TOP 10 JOB- COMPETENCES

WHY* BECOME AN ENTREPRENEUR? Possibility to change the world or local community! You brew coffee because you need it not because your are told to - you solve tasks you believe is meaningful to you personally. Freedom - be your own boss. Majority of all newly rich danes are entrepreneurs. Take part in creating wealth for your family and friends the society as a whole. *Being naturally biased do to our mission, Venture Cup believe these are good arguments for you to make an informed decision and not just go with the herd...

GREAT VIDEOS Steve Jobs' 2005 Stanford Commencement Address https://www.youtube.com/watch?v=Hd_ptbiPoXM Think Different; Steve Jobs, The Crazy Ones https://www.youtube.com/watch?v=8rwsuXHA7RAhttps://www.youtube.com/watch?v=8rwsuXHA7RA Steve Jobs' Vision of the World https://www.youtube.com/watch?v=UvEiSa6_EPA Dream - Motivational Video https://www.youtube.com/watch?v=g-jwWYX7Jlo INSPIRATIONAL - HOW GREAT I AM https://www.youtube.com/watch?v=V6xLYt265ZM Why Do We Fall - Motivational Video https://www.youtube.com/watch?v=mgmVOuLgFB0 Failure is the pillar of success (a motivational Video) https://www.youtube.com/watch?v=Vi1ZF8yG3v4 Does and donts by Kauffmann "Go Be An Entrepreneur" https://www.youtube.com/watch?v=FOFm8fPP2Kc

Case FROM STUDENT TO ENTREPRENEUR TO INTRAPRENEUR TO? Christian Jlck Director for Commercial Excellence & Marketing

THE STORY, PART 1 1. MA in Finance and International business from ASB (AU) A. Took an entrepreneurial elective: Applied Business Development. They made a finance & investment plan for this spin- out. 2. Based on entrepreneurial extracurricular activity he was hired in Coloplast, because he stood out. A. Christian had gained new skills. B. They did not push on with this highly potential venture. 3. His motivation was sparked he wanted to create A. He assembled a diverse team to compete in The Grundfos Challenge(GFC). B. The team was a great fit. However they did not continue with this specific project but stayed in close contact.

THE STORY, PART 2 4. Co-founder. Knowing Christians skills within tech-business and his ability within teamwork the PhD student he meet in GFC asked him co-found a project he worked on. A. By having a strong and diverse team*, addressing a huge problem/pain for millions of people with a novel and very plausible solution they won Venture Cup MedTech being one of the toughest categories to conquer. B. Continuously bring more positive attention to his achievements Christian was Awarded Talent100 by Berlingske Newsmagazine 5. Co-created** 12 product-innovations in only 5 years with Coloplast. * Please note the team: David Lindhard-Tordrup, Anders Madsen Pedersen, Jakob Madsen Pedersen, Jakob Virenfeldt Christiansen, Christian Jlck. **: Please note the core tearm: Birgitte Stubkjr Qvist-Pedersen, Jakob Weldingh, Tage Pors, Christian Jlck.

INNOVATIONS BY CHRISTIAN AND HIS TEAM - PRODUCT LINE BRAVA RANGE BY COLOPLAST -

CHRISTIANS CV

SELECTED COMMENTS FROM INTERVIEW Find a clear problem that somebody will pay you money to solve and then keep having a strong focus on differentiation. You need to take investment to really grow Create partnerships from the very beginning you need them to leverage your business, its impossible on your own.

TOP 3 LEARNINGS AND ADVICES Invest a lot of time in finding the right people and build a winning culture Make sure to stick to your ambition the whole way through Keep a strong focus on being close to customers to stay innovative

MORALS FROM CHRISTIANS STORY - Highlights by Venture Cup In their youth majority of modern entrepreneurs are flexing between being: in an independent startup and and intra-preneur* We believe that this ability and industry-insight increases the potential for radical innovation greatly. Understanding and harvesting both fields. Moderns world problems and crisis very often calls for multi-stakeholder solutions not one-man shows. * Definition by Wikipedia: Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization.entrepreneur

CASES - VENTURE CUP ALUMNI Want more inspiration or looking for a specific case? Please refer to: The winners of each category venturecup.dk/winners Mentee startups of the mentor program venturecup.dk/startup-mentees The 25 Booster Pack winners venturecup.dk/booster/

BUSINESS MODELS An introduction to why, what, how

WHY A comment by Venture Cup The importance of the business model is very often overlooked and often we tend to use too little time trying to gain competitive advantage here. How the money flows is not just an transaction it is an important choice of relation. A business model can both be your way into an industry and what keeps you out but it can also be a game changer; business model innovation. Sometimes you can become the market leader even with a standard product but with a new model of business for a specific industry. Sometimes it is just about adopting a well known model into another industry.

10 examples of business models Picture: Article from howstuffworks.com Please go to the website and explore: http://money.howstuffworks.com/5-influential-business-models.htm#page=1 WHAT

HOW - CASE KICKSTARTER.COM

BUSINESS PLANS 6 ways to do it - its depends on your stage

WHAT IS THE BUSINESS PLAN? Planning as part of the business operation The business plan is the image of your business, your goals and how they can be achieved. The structure of a business plan will vary depending on the nature of the business. The business plan is a concise and comprehensive summary of the business. Written document describing all relevant internal and external elements and strategies for starting a new venture The BP, the game plan or road map-answers the questions, where am I now? Where am I going? How will I get there?

WHY A BUSINESS PLAN? Its more for you than anybody else It allows you to organize your thoughts It allows you to see what you are missing It shows others that you have a rational organized process It becomes a historical document to let you see what you were thinking at the time It is a money raising document It is a recruiting tool It keeps you honest It is a starting point for a tactical operating plan

DIFFERENT TYPES OF BUSINESS PLAN Any type of business plan entails deep examination, careful assessment of all identified features, and projecting possible results of different possibilities that are open for the company. This flexible process can take numeral procedures; some of them are comparatively one-dimensional, while others are exceptionally comprehensive and complicated. Nevertheless, the basic task of business planning is essential for the business person establishing a new business, and also for the already established company that demands to expand or to complete the promotion of new products or for the acquisition of business contenders. (Anthony 2008) Types of Business Plan Startup Plans InternalOperationalStrategicFeasibilityGrowth

START UP BUSINESS PLAN Is used to attract future potential partners or current business investors or partners; Gives insight to decide whether it is feasible to profitable to continue with existing business idea; A startup plan is also known as a feasibility plan; As the business grows, there is always possible to edit sections out and add details. Parts of a Startup Business plan Executive Summary: Concise description of BP Product and Service Customer Pain: customer need/problem Business Idea: Innovation and differentiation Value proposition: why to buy product/service? Idea Protection: how to prevent from copying? Market and Customer Customer Profile: describe the typical customer Market & Testing: contact the potential customers and define the market size Industry and Competition Competitors study and competitive advantage People and organization structure Marketing and operational plans Money, financial feasibility and Budget For further information on startup BP please refer to the below address: http://www.venturecup.dk/resources/

INTERNAL AND OPERATIONS BUSINESS PLANS Internal BP Internal business plans target an audience within the existing business. These plans are usually written internally by management so to evaluate a proposed future project. The plan contains a brief description of the companys current operating status, including prepared costs and profitability. It is also necessary to calculate in these plans, if and how the business will repay any how much capital will be needed for the proposed future projects. It may provide some information about project marketing, hiring and technical costs. Operations BP Formal type of internal plan and is also called as an annual plan. It consist of business milestones, deadlines and targets for future or current projects and every day jobs of different operational team members and office. mphasizes mainly on a certain business area or division in case if the business decision makers decide to launch new product/service can develop a growth plan before the launch. Later this plan might act as external plan depending if business requires investment from outside, this can be done by including details about management and company progress in past 12 few years.

STRATEGIC, FEASIBILITY AND GROWTH BUSINESS PLANS STRATEGIC BP: This plan provides a thorough map of a companys goal along with the proper instructions to how it will achieve those goals; It lays out a foundation plan for the whole company; normally contains five basic essentials: vision of business, mission statement, description of important success factors, strategies for achieving objectives and an implementation plan. FEASIBILITY BP: Is a study which is conducted sequentially to determine whether the business will thrive or not; This investigation can be carried out by the businesses which are already established and are at a certain stage when the business wishes to introduce a new product or service in the market. GROWTH BP: Growth plans or expansion plans are comprehensively portrayals of projected expansion of business to outline their development evaluation consecutively; includes complete metaphors of the company including its leading management and expert officers, this information can be used to convince prospective future investors by showing true potential of the business.

THE ENTREPRENEURIAL ECOSYSTEM Focus: National & CPH

THE DANISH ECOSYSTEM WHOWHAT The Danish Foundation for Entrepreneurship - Young Enterprise (FFE-YE) Micro Grants; 10.000 to 50.000 DKK, Competition: Start Up Programme Gate to CreateNetworking org., overall guide for relevant resources MicrosoftImagine Cup - Global student Technology Competition Venture CupWorlds largest prize sum for student startups, 1 year mentoring program, etc.,

MAJOR OPEN NATIONAL EVENTS Venture Cup Idea Competition, fall Venture Cup Startup Competition, spring Award2014 by FFE-YE, summer

Get: Speakers, Workshops, Advice within creativity, innovation and entrepreneurship. Video from 2013: bit.ly/1fFS640bit.ly/1fFS640 Date: Thursday 21. November 2014 Time: 10.00 -16.00 Place: Messe C, Fredericia Free signup opens in August: www.award2014.dk Facebook: Danish Entrepreneurship Award DANISH ENTREPRENEURSHIP AWARD 2014

EVENT CALENDAR BY CITY, STARTUPDIGEST For CPH https://www.startupdigest.com/digests/copenhagen For Aarhus https://www.startupdigest.com/digests/aarhus Explore the world https://www.startupdigest.com/digests

THE ECOSYSTEM, CHP WHOWHAT CSE (Copenhagen School of Entrepreneruship), CBS Free officespace, network, events SkypLab, DTUFree officespave, 3D printing, prototyping, ITU Innovators, ITUFree officespace, network, events T57, KUFree officespace, network, events Krebitat, RUCNetwork, events Dansic, NGOPlatform for social innovation, Dansic Conference Suitable for Business, NGONetwork, 32-hour case competition for humanities & social science students.

RESOURCES - THE CIEL MAP Please visit and click arround at: ciel-lab.dk/map/

THE COPENHAGEN STARTUP SCENE. UNITED. Follow this 1 hashtag on Twitter: #CPHFTW

THE COPENHAGEN STARTUP SCENE. UNITED. #cphftw is a grass root initiative to unite the startup community in Denmark. The goal is to bring the entire community together and work out ways to improve entrepreneurial ecosystem in Denmark centered around Copenhagen. #cphftw aims to integrate a strong focus on building relationships, trust, knowledge and awareness in the danish startup community. #cphftw brings people together to do great things. Its a movement and everyone's invited.

THE NEW HOTSPOT IN TOWN: STARTUP VILLAGE Njalsgade 19D, 2300 Copenhagen Go meet: ShapeShape, Vivino, Conferize, Opbeat, Graduateland, Birdback, Nabby, TightDB, Boligsurf, Anker Studio, Everplaces, Kirkeweb, Codeable.io, HelloWorldMobile, Labster, BodyBarista, MeeWee, Riidr, Pinstriped, Pocket Risk, SNIPS, 8pen, Bellmetric, Autobutler, Planday, Hello Monday, Driversnote, etc. Vivino Conferize Opbeat Graduateland Birdback Nabby TightDB Boligsurf Anker Studio Everplaces Kirkeweb Codeable.io HelloWorldMobile Labster BodyBarista MeeWee Riidr Pinstriped Pocket Risk SNIPS 8pen Bellmetric Autobutler Planday Hello Monday Driversnote

A NGO fostering student entrepreneurs. Owned by the 8 Danish Universities. Since year 2000. For more info please refer to venturecup.dk/faculty ABOUT VENTURE CUP

VENTURE CUP is a nationwide non-profit organization whose purpose is to find entrepreneurs of tomorrow and to facilitate the creation of new businesses. This purpose is achieved through a targeted effort that centers on the following core activities: competitions, skills training, mentoring and networking.

IDEA COMPETITION 25.000 DKK - 6 categories. The competition runs in the autumn. Generate interest in entrepreneurship. Participate by submitting 2-3 pages. Get lots of feedback.

STARTUP COMPETITION 25.000 DKK - 6 categories. First pize 200.000 DKK. 25 Venture Cup Booster Packs The competition runs in the spring. Participate by submitting 10-15 pages. Get lots of feedback.

SOUTHERN DENMARK ZEALAND NATIONAL OFFICE MID JUTLAND NORTHERN JUTLAND OFFICES National overview

ALL 8 UNIVERSITIES National overview Aalborg University (AAU) Copenhagen Business School (CBS) Roskilde University (RUC) IT University of Copenhagen (ITU) Technical University of Denmark (DTU) University of Aarhus (AU) University of Copenhagen (KU) University of Southern Denmark (SDU)

IDEA COMPETITION Early stage idea plan competition +1100 participants 2-3 pages RUNS in Autumn/Winter MASSIVE networking EXPERT feedback CASH prizes ANNUAL STUDENT REACH: +13000 +250 Guests at the final

STARTUP COMPETITION Business plan competition 25x Booster Pack +300 participants 15 pages RUNS in Spring/Summer MASSIVE networking EXPERT feedback CASH prizes ANNUAL STUDENT REACH: +10000 +350 Guests at the final

Light - Medium - High Please follow this link: venturecup.dk/faculty 3 LEVELS OF INVOLVEMENT

MENTOR PROGRAM The startup mentor program will be one of the key features of venture cup. The mission is to create the largest mentor program for startups in denmark to bring great ideas and valuable experience together. Our mentors are typically entrepreneurs or business leaders in higher management positions with longstanding experience in how to build up and conduct a business. +60 Mentors 6 step mentor program over 1 year! More salesIP rightsProduct Development FinanceProgrammingVenture Capital & Investment GUIDANCE & SUPPORT: CEOs serial entrepreneurs experts consultants

Links & Goodies OTHER RESOURCES

OTHER RESOURCE For students The CIEL lab map. A map showing relation between phase of development and resource. http://ciel-lab.dk/map/http://ciel-lab.dk/map/ For Teachers Collection of links and basis info about 9 different toolboxes, http://innovation.blogs.ku.dk/andre-relevante-vaerktojskasser/ http://innovation.blogs.ku.dk/andre-relevante-vaerktojskasser/ The Entrepreneurial Method: Full community and all resources for implementing effectuation principles http://effectuation.org/ Startup news Trendsonline.dk

THANKS! Nynne Christiansen, DTU, overall expert advice Roxana M. Stefanescu, JA-YE Europe, expert societal perspectives Leif Bloch Rasmussen and Caroline Bille, ITM at CBS, for co-founding the projekct. Rikke G. Nielsen, Venture Cup, Ideation workshop, rhetoric and implementation Casper Svane, Venture Cup, graphics and web Human Shojaee, Venture Cup, initiating and overseeing Main producer: Brian Gjerstrup, Venture Cup

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