What is entrepreneurship ?
Entrepreneurship is not only starting a company:
“Entrepreneurship is an attitude or approach to management or life that starts with opportunity; it is a framework with which to look at the world regardless of what you do in the world.”
(Carsrud, 2005)
Entrepreneurship is about seeing opportunities and bringing about change.
Entrepreneurship shapes our society
There is tremendous interest in entrepreneurship around the world
According to a recent GEM study, about 300 million people or 12.5% of the adults in the 40 countries surveyed, are involved in forming new businesses
Entrepreneurship comes in many shapes and forms in addition to starting your own company
Entrepreneurship
Academic entrepreneurship:
Three levels
Training and supporting entrepreneurship - starting new businesses spin-offs
Entrepreneurship - a subject itself
The entrepreneurial university - creation and maintenance of an enterprising culture
Academic entrepreneurship
Entrepreneurship at UMinho
Academic entrepreneurship at UMinho:
Three areas
Awareness raising
Networking
Spin-off support
Entrepreneurship at UMinho
Awareness raising Presentations delivered at different university
courses
Conferences on entrepreneurship
Entrepreneurship Fair
Invention competition “InventUminho”
Entrepreneurship at UMinho
Networking Establish a network of already existing entrepreneurs
Get to know the market
Get to know potential investors
Networking of spin-offs Bring together entrepreneurs, and entrepreneurs and
investors
Entrepreneurship at UMinho
Spin-off support Identification of ideas
Training the entrepreneur
Identification of needs
Supporting the venture (company creation)
ResearchProof of principle
FeasibilityProof of conceptMarket & Technology
PreparationMarket & Product
VentureProduction & Business Development
University University/Project Project/Company Company
Scouting Screening Support Participation and/or continued support Go on / No go
License /Spin-off
Spin-off Programme
Spin-off Programme
Entrepreneurs must have a link to the University of Minho:
teaching staff;
researchers;
under-graduation and post-graduation;
students;
recent graduates;
technical personnel.
Spin-off purpose:
High-tech and/or knowledge-based products or services obtained as a result of research developed at the University.
Spin-off Programme
“Graduate spin-offs”: created by students or alumni of the UMinho who wish to keep a link with the university.
“University spin-offs”: technology-based entrepreneurial projects that use know-how developed at the university. UMinho, through TecMinho, can own part of the shares of the future company. There is a know-how license agreement that assigns exclusivity to the spin-off in a given domain.
Spin-off Programme
Type of spin-off
“Campus company” phase: pre-incubation 1-3 years. Ideation (technology and market). Labs use, equipments, proof of concept mechanisms.
“Spin-out” phase: incubation: 1-3 years. Technology development and industrialisation. Formal establishment of the company. Support available from UMinho may be continued.
Spin-off Programme
Spin-off phases
“Start-up” phase. Company should have got all necessary means regarding self-sustainability. It can keep privileged relations with UMinho.
Spin-off Programme
Spin-off phases
UMinho’s spin-off advantages
University of Minho:− Scientific mentoring− Preferential access to technologies− Access to space, labs and equipment− Label “Spin-off of the University of Minho”
TecMinho:− National / international networking− Intellectual property support− Technology brokerage− Contacts for financing− Training courses (e.g. management, marketing) − Business management support
List of spin-offs at UMinho
Spin-off Field CreationBIOTEMPO Biotechnology May 2005
SIMBIENTE Environment May 2005
ULTRAVISIOGRAPH Medical devices June 2005
CPC Biotechnology September 2005
UBISIGN ICT September 2005
VINALIA Biotechnology November 2005
BYZYMO Biotechnology February 2006
EDIT VALUE Business Management March 2006
WIDECOLOUR Physics March 2006
PMINNOVATION Business Management May 2006
TECNOWAVE Civil Engineering May 2006
MICROPOLIS Polymer Engineering November 2006
SOMATICA Physics December 2006
SINERGEO Geology January 2007
GEOS Geology March 2007
Academic entrepreneurship
The dual approach
Quantity vs. Quality
Should the University support all ideas from potential entrepreneurs?
Should the University focus on the ideas with more potential for high growth?
Focus on quantity: support all ideas
Academic entrepreneurship
The dual approach
Focus on quality: mechanisms for identification of high potential ideas for customised support
IDEA
COMPANY
Academic entrepreneurship
Success factors in entrepreneurship support Use people that really understand the
entrepreneurial processes Create reward mechanisms Drive and engagement Satisfy real needs A strategic focus An anchored position Collaborative mindset Credibility and openness Long term commitment
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