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
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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
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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
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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
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.
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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
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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
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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
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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
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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
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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
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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
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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
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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
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Students - Faculty - Employers - Denmark MOTIVATION
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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
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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
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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.
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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
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+33% OF EMPLOYERS WANT DIRECT ENTREPRENEURIAL EXPERIENCE!
-according to a survey of 225 employers by Millennial Branding, a
generation Y research and consulting firm
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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
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DID YOU KNOW 3.0 SHIFT HAPPENS Video:
https://www.youtube.com/watch?v=F9WDtQ4Ujn8https://www.youtube.com/watch?v=F9WDtQ4Ujn8
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TOP 10 SKILLS RECRUITERS WANT (#1-5) 1. Commercial awareness
(or business acumen) 2. Communication 3. Teamwork 4. Negotiation
and persuasion 5. Problem solving
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TOP 10 SKILLS RECRUITERS WANT (#6-10) 6. Leadership 7.
Organisation 8. Perseverance and motivation 9. Ability to work
under pressure 10. Confidence
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ANOTHER TOP 10 JOB- COMPETENCES
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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...
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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
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Case FROM STUDENT TO ENTREPRENEUR TO INTRAPRENEUR TO? Christian
Jlck Director for Commercial Excellence & Marketing
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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.
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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.
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INNOVATIONS BY CHRISTIAN AND HIS TEAM - PRODUCT LINE BRAVA
RANGE BY COLOPLAST -
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CHRISTIANS CV
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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.
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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
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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
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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/
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BUSINESS MODELS An introduction to why, what, how
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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.
Slide 44
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
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HOW - CASE KICKSTARTER.COM
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BUSINESS PLANS 6 ways to do it - its depends on your stage
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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?
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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
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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
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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/
Slide 54
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.
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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.
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THE ENTREPRENEURIAL ECOSYSTEM Focus: National & CPH
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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.,
Slide 58
MAJOR OPEN NATIONAL EVENTS Venture Cup Idea Competition, fall
Venture Cup Startup Competition, spring Award2014 by FFE-YE,
summer
Slide 59
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
Slide 60
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
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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.
Slide 62
RESOURCES - THE CIEL MAP Please visit and click arround at:
ciel-lab.dk/map/
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THE COPENHAGEN STARTUP SCENE. UNITED. Follow this 1 hashtag on
Twitter: #CPHFTW
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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.
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
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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.
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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.
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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.
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SOUTHERN DENMARK ZEALAND NATIONAL OFFICE MID JUTLAND NORTHERN
JUTLAND OFFICES National overview
Slide 73
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)
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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
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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
Slide 76
Light - Medium - High Please follow this link:
venturecup.dk/faculty 3 LEVELS OF INVOLVEMENT
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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
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Links & Goodies OTHER RESOURCES
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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
Slide 80
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