EUROPEAN INNOVATION WORKSHOP EDINBURGH OCTOBER 5/6/7 2005 Edinburgh, October 5-7, 2005 Start Up...
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Transcript of EUROPEAN INNOVATION WORKSHOP EDINBURGH OCTOBER 5/6/7 2005 Edinburgh, October 5-7, 2005 Start Up...
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Edinburgh, October 5-7, 2005
Start Up Network and Start Up Providers
European Innovation Workshop
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Obje
ctiv
es
Improve key services for start up creation and development at the European level
Incubate a sustainable body representing the SU community:a “voice of the European start up”
4 services to be designed+ 1 policy recommendation initiated by the networks
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
GM4Barcelona, April 28/29 2005Draft version of the 4 servicesDecision to support a policy recommendationExchange of experience with 3 PAXIS projects
GM5Dublin, October 20/21 2005Revised version of the 4 servicesUpdate on the policy recommendationDiscussion on the dissemination phase
Tim
elin
e
ValidationTesting phase until May 2006
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Ach
ievem
ents
Entrepreneurs and providers working together for two years
Two way collaboration with PAXIS - Exchange of experience with the Validation Projects- Regular contributions to AM1&2- Support from the regions
Willingness of the networks to initiate and support a policy recommendation
Strong dedication to the project- in spite of duration- in spite of precarious and busy situation
Start up companies directly involved in the project
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Added V
alu
eDemonstrated by strong dedication to the project (90% of the members stayed 2 years)
European added value: Four services evaluated by a pan-European network and implemented at European level
Potential impact of the Policy Recommendation: 100 B€/year
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Invest AcademyManaged by EURADA/EBAN
NXD NetworkManaged by FSDA
FAMEManaged by CICOM
Fuzzy SetManaged by UTC
1 2
43
+
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Service 1
Invest AcademyManaged by EURADA / EBAN
1
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Background
- Absence of professional training on how to discuss issues concerning financing with potential investors
- Lack of knowledge about appropriate funding sources- Lack of experience on how to deal with financiers- Lack of understanding of what an investor looks for in a proposition- Inability to produce convincing business plans- Conflict between the needs of the financiers and the perceived needs of the
business.
= Create a comprehensive training & education support service for entrepreneurs on how to deal with different investors, including a quality check of their business plan
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Invest Academy: ObjectivesFor the entrepreneur
• The main objective of the service is to advise the entrepreneur concerning the quality of his/her business proposition, business plan, its attractiveness to potential investors and lenders
• Help entrepreneurs understand the world of finance and learn how to deal with financiers
• Provide an active, personal and tailor-made coaching service to them
For the investor
• Enhance the quality of BP therefore the number of deals getting done
• Save time
> Bring investors and entrepreneurs together and help them understand each other.
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Main features• Service provider• Level of implementation• Target groups• Organisation of the programme in 3 phases
1. Generic programme2. Adjustment period3. Pitch
• Performance indicators• Financial considerations• Next steps
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Service 2
Non Executive Directors NetworkManaged by FSDA
The Trigger : “What Obstacles do You Perceive in Transforming your Technology or Product or Service Innovation, into a Commercial Success?”
2
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
(a)Encourage & stimulate the creation offeedback loops, clubs or platforms : facilitate exchange of experience
(b)Forum for companies to rate their
experiences with service providers e.g. law firms
(c)Create an international senior
sales/reseller team(Model berlin*startup)
(f)Establish knowledge website: "lessons learned" forum/database for sales related issues
(e)Provide access to a Business Angels networkfor very early stage finance
Main themeMain themeSet up a network of
experienced non-executive directors for management coaching
programmes
Main themeMain themeSet up a network of
experienced non-executive directors for management coaching
programmes
Overview of issues & implementation
Sales & Marketing Experience Exchange: e-Discussion Forum Best practice basis : “netpreneur.org” (USA)• Open to start-ups.(SUN only), 1/6/05• Managed, can be moderated.• Monthly Digests.• All traffic is archived: searchable by keyword.• SUP issued with archive passkey.• Link from SUN&SUP homepage
Sales & Marketing Experience Exchange: e-Discussion Forum Best practice basis : “netpreneur.org” (USA)• Open to start-ups.(SUN only), 1/6/05• Managed, can be moderated.• Monthly Digests.• All traffic is archived: searchable by keyword.• SUP issued with archive passkey.• Link from SUN&SUP homepage
NXD Matching Best practice basis : • “Higgs Review” (UK) + • “Réseau Entreprendre” (FR)
NXD Matching Best practice basis : • “Higgs Review” (UK) + • “Réseau Entreprendre” (FR)
LinkedIN SUNSUP group Best practice basis : “LinkedIn.com” (USA); + “GlobalScot” (UK)• Open to all SUN&SUP 1/9/05• Allows endorsement of service providers• Allows exploitation of diaspora to create sales leads
LinkedIN SUNSUP group Best practice basis : “LinkedIn.com” (USA); + “GlobalScot” (UK)• Open to all SUN&SUP 1/9/05• Allows endorsement of service providers• Allows exploitation of diaspora to create sales leads
Discrete contact brokering offered by FSDA
Discrete contact brokering offered by FSDA
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Where are we? What next?
Discussion ForumPilot implemented June 2005
Monitoring reactions to, and usage of the Forume.g.: moderator needs to initiate discussions by questions
Linked InPilot implemented September 2005Experiences were gathered from existing users.“The jury is out” for new SUN&SUP members ….
NXD Matching Pilot to be implemented from October 2005• Structure defined, Aug. 2005 : main implementation from Oct.05 - will use same database as B2.1 “Discussion Forum” - criteria from A4 (“self-evaluation”) & B3 (“FAME”)• Finding appropriate NXDs to register will be key success factor• Linkage to “money” (sources of funds) may come naturally
Learning to reach excellence:
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Service 3
FAMEManaged by CICOM
3
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
FAMEFAME Find the Appropriate Mentor Find the Appropriate Mentor
• Programme Creation of a free mentoring service to start-ups based in European Science & Business Parks.
• Mentor Definition A Mentor is a wise and trusted counsellor or teacher. He is not a consultant.
• Objectives Help young entrepreneurs & start-ups develop and succeed with the support of a mentor.
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
How does it work?How does it work?1. Start-up Entrepreneurs want to work with a mentor
2. Entrepreneur fills a registration form on the FAME platform
3. Creation of Advisory Board Mentors join FAME network
4. Application form examination by Advisory Board & mentors
5. Matching between start-up & mentor
6. Mentor contacts start-up
7. Mentor & start-up meet & work together on long-term
1) Start-ups and young
entrepreneurs
2) Start-up fills a mentor
registration form on the FAME
platform
3) Creation Advisory Board
(5 people)
Mentors join the FAME service
4) Advisory Board examines
requests companies’
needs, business plan,
development possibilities to
assess the most interesting projects
5) Matching between start-ups & mentors according to experience, fields, etc.
6) Selected Mentor contacts start-up
FAME Advisory Board approves and
gives contacts details of the
selected start-up to the mentor
7) Meetings & work together on long-term
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
FAME Success Factors & AdvantagesFAME Success Factors & Advantages
• Be a "win-win" situation for both parties involved
• Involve a long-term commitment • Rely on successful personal relationships and trust-building
• Financial consideration: free start-ups
• Door opening for start-ups: increase start-up success and business opportunities
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Service 4
Fuzzy SetManaged by UTC
4
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Fuzzy SET for High Tech Companies
Situation & Challenges
Key Factors Background
From SUN&SUP analysis
1) Lack of an effective and proven management team2) Difficulty in self-evaluation of own (own company)
situation and value
=> Need to diminish uncertainty=> Get a better understanding of the environment (Entrepreneur, Coaches, VC's, …)
=> For Europe, increase the number of Strong High Tech Companies
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
7 domains with different parameters relevant for evaluation : Technology, Product, Market, Management Team, Strategy, Marketing, Finance Holistic view
Strong uncertainty and interdependency of success factors
Credibility and transparency of evaluation
Instructive nature of feedback
Combining "Xtractis Generate" Fuzzy logic Model Software
Service Proposal : Fuzzy SET
Risk Analysis and Decision-Making ToolCreate a multi-lingual, European, Web-based
Fuzzy Self-Evaluation Tool
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Fuzzy SET : Methodology used
Data collection by questionnaire Case description and 57 questions
Expert Rating workshop (18/3/2005) 16 European experts (SUPs and UTC partners) 960 domains of 40 cases evaluated
Model building by Xtractis® Generate 2 global models (whole set success
pre-selected variables success) 1 finance model (whole set success
finance variables failure)
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Global Model
CharacteristicsO-Sa type Image
3 fuzzy rules (C1)21 input variables38 learning pointsRB Output Definition Range: [0 ; 10]RB Output Variation Range: [0.37 ; 8.07]Theoretical Output Variation Range: [0.57 ; 8.16]
Accuracy Performance (learning points)
Hamming's error and maximum error based on RB Output Definition RangeModel Output Variation Range included in RB Output Definition Range
Powered by Xtractis®, an IntelliTech [Intelligent Technologies] software.Copyright © 2002-2005 IntelliTech [Intelligent Technologies]. All rights reserved.
CharacteristicsO-Sa type ImagePredicted output: Global evaluation3 fuzzy rules (C1)21 input variables38 learning pointsRB Output Definition Range: [0 ; 10]RB Output Variation Range: [0.37 ; 8.07]Theoretical Output Variation Range: [0.57 ; 8.16]
Accuracy Performance (learning points)
Correlation coefficient 0,998Mean error (predicted - actual) 0,002Error standard deviation 0,079
Hamming's error 0,56%Maximum error 2,49%
Mean mapping degree (data) 0,590Min mapping degree (data) 0,327
Non mapped data count 0Mapped data 100%
Hamming's error and maximum error based on RB Output Definition RangeModel Output Variation Range included in RB Output Definition Range
Powered by Xtractis®, an IntelliTech [Intelligent Technologies] software.Copyright © 2002-2005 IntelliTech [Intelligent Technologies]. All rights reserved.
Accuracy RobustnessCharacteristicsImage
12 points on the decision space bounds10% drawing lots
Robustness Performance (BOO)
Correlation coefficient 0,758Mean error (predicted - actual) -0,073Error standard deviation 0,763
Hamming's error 6,11%Maximum error 19,26%
Mean mapping degree (data) 0,586Min mapping degree (data) 0,402
Non mapped data count 0Mapped data 100%
Hamming's error and maximum error based on RB Output Definition RangeModel Output Variation Range included in RB Output Definition Range
Powered by Xtractis®, an IntelliTech [Intelligent Technologies] software.Copyright © 2002-2005 IntelliTech [Intelligent Technologies]. All rights reserved.
CharacteristicsO-Sa type Image
3 fuzzy rules (C1)21 input variables38 learning pointsRB Output Definition Range: [0 ; 10]RB Output Variation Range: [0.37 ; 8.07]Theoretical Output Variation Range: [0.57 ; 8.16]
Accuracy Performance (learning points)
Hamming's error and maximum error based on RB Output Definition RangeModel Output Variation Range included in RB Output Definition Range
Powered by Xtractis®, an IntelliTech [Intelligent Technologies] software.Copyright © 2002-2005 IntelliTech [Intelligent Technologies]. All rights reserved.
21 variables to explain “global evaluation”
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Next Steps … to perform the fuzzy SET
Xtractis® Model Building Strong model with new business Cases and new experts Uses based on Intellitech licences
Elaboration of prototype features
Creation of user interface : European front office
Advises for Entrepreneur
Study : are entrepreneurs able to "self evaluate" ??
CharacteristicsO-Sa type Image
3 fuzzy rules (C1)21 input variables38 learning pointsRB Output Definition Range: [0 ; 10]RB Output Variation Range: [0.37 ; 8.07]Theoretical Output Variation Range: [0.57 ; 8.16]
Accuracy Performance (learning points)
Hamming's error and maximum error based on RB Output Definition RangeModel Output Variation Range included in RB Output Definition Range
Powered by Xtractis®, an IntelliTech [Intelligent Technologies] software.Copyright © 2002-2005 IntelliTech [Intelligent Technologies]. All rights reserved.
CharacteristicsO-Sa type Image
3 fuzzy rules (C1)21 input variables38 learning pointsRB Output Definition Range: [0 ; 10]RB Output Variation Range: [0.37 ; 8.07]Theoretical Output Variation Range: [0.57 ; 8.16]
Accuracy Performance (learning points)
Hamming's error and maximum error based on RB Output Definition RangeModel Output Variation Range included in RB Output Definition Range
Powered by Xtractis®, an IntelliTech [Intelligent Technologies] software.Copyright © 2002-2005 IntelliTech [Intelligent Technologies]. All rights reserved.
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
Policy Recommendation
Towards an European SBAManaged by HTFED
+
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
The growth of European SMEsis blocked by a glass ceilingpreventing them to becomeglobal players
Access to large accounts is high tech start-ups’ main concern - Large companies- Procurement agencies- RTD programmes
European large companies are bigger than American ones and they are performing more R&D.The problem is they are not numerous enough:
2000 vs 3200
Not having enough large companies performing R&D has a direct impact on the Lisbon Agenda:2/3 of European R&D should come from the private sector
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
In USASmall Business Act(1953)40% public procurement reserved to SMEs
95 B$ in 2003
Regulating competition is necessary to foster the emergence of new European large companies- no further public funding- good for large companies (open innovation)- more capital raised = growth
In EuropeEuropean governments do not have the right to give European SMEs a preferred supplier status.
WTO treaty
Potential ImpactSME targets in public procurement for innovative products and services
100 B€ contracts
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
The SUN network online petition
SUN&SUP, a group of 15 European high-tech start-up companies advising the EC, is arguing that both the EU and national governments need to act NOW to ensure that European SMEs get equal rights in the new 10-year WTO treaty that is currently being renegotiated in Geneva for the period 2005-2015
750+ signatures
WE NEEDMORE !!!
SME
signatures
Associations
support
Governments
position
MEP
lobbying
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
17 signaturesfrom large companies, procurement agencies and large R&D programmesto be extended at the European level
with the support of OSEO
French good practice: the SME Pact- voluntary commitment from the large accounts- not only public procurement but private companies- monitored by an independent SME body
Two way street•Set of indicators to monitor the SME share in purchases•Services to identify relevant SMEs
Annual evaluation from 2006
Towards a European Small Business Act- renegotiation of the WTO Procurement Agreement- European Directive on the access of SMEs to public procurement of innovative products & services
EUROPEAN INNOVATION WORKSHOPEDINBURGH OCTOBER 5/6/7 2005
+Violaine Menant
European Federation of high tech SMEs
+33 1 45 23 54 91
www.sunsup.org