SLIDE OVERVIEW
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About Department of IT Management
Approaches to Innovation & Entrepreneurship
Motivation
Ideation
Coloplast, Christian Jølck
Best Practice – Business Plans
Business Models
Business Plans
About Venture Cup
Other Resources
Thank you
ABOUT ITM
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
department´s 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.
APPROACHES
1. Creativity Thinking – linear approaches
2. Design Thinking – iterative/interactive design
approaches
3. Cooperative Thinking – network 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
C. Churchman: The Design of Inquiring Systems
THE CYCLE OF HARVESTING
FOR INNOVATION
2. Creating the right team
Proposed methodologies:
E. Wenger: Digital Habitats
E. Wenger and J. Lave: Communities of Practice
THE CYCLE OF HARVESTING
FOR INNOVATION
3. Find and express generative themes
Proposed methodologies:
P. Freire: 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
David Boje: 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
K. Stephenson: 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
THE CYCLE OF HARVESTING
FOR INNOVATION
7. Strategy and business models
Proposed methodologies:
T. Clark: Business Model You
A. Osterwalder & Y. Pigneur: Business Model Generation
E. Rice: The Lean Startup
THE CYCLE OF HARVESTING
FOR INNOVATION
8. Seed for the next harvest
Proposed methodologies:
H. Mikkelsen & J.O. Riis: Project Management &
E. Ostrom: 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.
MOTIVATION
Students - Faculty - Employers - Denmark
STRONG GOVERNMENT
INCENTIVES
“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.”
SEVEN NATIONAL ACTION
POINTERS
The Government will implement the following
initiatives relevant to educations:
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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
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=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 JOBCOMPETENCES
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
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Steve Jobs' 2005 Stanford Commencement Address
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• https://www.youtube.com/watch?v=Hd_ptbiPoXM
Think Different; Steve Jobs, The Crazy Ones
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Steve Jobs' Vision of the World
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https://www.youtube.com/watch?v=mgmVOuLgFB0
Failure is the pillar of success (a motivational Video)
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https://www.youtube.com/watch?v=V6xLYt265ZM
Why Do We Fall - Motivational Video
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https://www.youtube.com/watch?v=g-jwWYX7Jlo
INSPIRATIONAL - HOW GREAT I AM
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https://www.youtube.com/watch?v=UvEiSa6_EPA
Dream - Motivational Video
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https://www.youtube.com/watch?v=8rwsuXHA7RA
https://www.youtube.com/watch?v=Vi1ZF8yG3v4
Does and donts by Kauffmann
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"Go Be An Entrepreneur"
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https://www.youtube.com/watch?v=FOFm8fPP2Kc
Case
FROM STUDENT TO
ENTREPRENEUR TO
INTRAPRENEUR TO?
Christian Jølck
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 “spinout”.
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 Jølck.
**: Please note the core tearm: Birgitte Stubkjær Qvist-Pedersen, Jakob Weldingh, Tage Pors,
Christian Jølck.
INNOVATIONS BY CHRISTIAN
AND HIS TEAM
- PRODUCT LINE BRAVA RANGE BY COLOPLAST -
CHRISTIAN’S 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.
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.
WHAT
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
HOW - CASE
KICKSTARTER.COM
BUSINESS PLANS
6 ways to do it - it’s 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?
• It’s 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)
Startup
Plans
Growth
Internal
Types of
Business
Plan
Feasibility
Operational
Strategic
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
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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
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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 company’s
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
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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:
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This plan provides a thorough map of a company’s goal along with the proper instructions to
how it will achieve those goals;
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It lays out a foundation plan for the whole company;
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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:
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Is a study which is conducted sequentially to determine whether the business will thrive or
not;
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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:
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Growth plans or expansion plans are comprehensively portrayals of projected expansion of
business to outline their development evaluation consecutively;
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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
WHO
WHAT
The Danish Foundation for
Entrepreneurship - Young
Enterprise (FFE-YE)
Micro Grants; 10.000 to 50.000
DKK, Competition: Start Up
Programme
Gate to Create
Networking org., overall guide for
relevant resources
Microsoft
Imagine Cup - Global student
Technology Competition
Venture Cup
Worlds 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
DANISH ENTREPRENEURSHIP
AWARD 2014
Get: Speakers, Workshops, Advice within creativity, innovation and
entrepreneurship.
Video from 2013: bit.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”
EVENT CALENDAR BY CITY,
STARTUPDIGEST
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For CPH
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For Aarhus
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https://www.startupdigest.com/digests/copenhagen
https://www.startupdigest.com/digests/aarhus
Explore the world
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https://www.startupdigest.com/digests
THE ECOSYSTEM, CHP
WHO
WHAT
CSE (Copenhagen School of
Entrepreneruship), CBS
Free officespace, network, events
SkypLab, DTU
Free officespave, 3D printing,
prototyping,
ITU Innovators, ITU
Free officespace, network, events
T57, KU
Free officespace, network, events
Krebitat, RUC
Network, events
Dansic, NGO
Platform for social innovation, Dansic
Conference
Suitable for Business, NGO
Network, 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.
It’s a movement and everyone's invited.
THE NEW HOTSPOT IN TOWN:
STARTUP VILLAGE
Njalsgade 19D, 2300 Copenhagen
Go meet:
Shape, 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.
ABOUT VENTURE CUP
A NGO fostering student entrepreneurs.
Owned by the 8 Danish Universities.
Since year 2000.
For more info please refer to venturecup.dk/faculty
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
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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
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25.000 DKK - 6 categories.
First pize 200.000 DKK.
25 Venture Cup Booster Pack’s
The competition runs in the spring.
Participate by submitting 10-15 pages.
Get lots of feedback.
OFFICES
National overview
NATIONAL OFFICE
ZEALAND
SOUTHERN DENMARK
MID JUTLAND
NORTHERN JUTLAND
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
ANNUAL
STUDENT
REACH: +13000
+1100
participants
RUNS
in Autumn/Winter
CASH
prizes
2-3
EXPERT
MASSIVE
pages
feedback
networking
+250
Guests at the final
STARTUP COMPETITION
Business plan competition
ANNUAL
STUDENT
REACH: +10000
+300
RUNS
participants
in Spring/Summer
CASH
prizes
15
EXPERT
MASSIVE
pages
feedback
networking
+350
25x
Guests at the final
Booster Pack
3 LEVELS OF
INVOLVEMENT
Light - Medium - High
Please follow this link:
venturecup.dk/faculty
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
CEO’s – serial entrepreneurs – experts – consultants
6 step mentor program over 1 year!
GUIDANCE & SUPPORT:
More sales
IP rights
Product Development
Finance
Programming
Venture Capital & Investment
OTHER RESOURCES
Links & Goodies
OTHER RESOURCE
• For students
• “The CIEL lab map”. A map showing relation between phase of
development and resource. 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/
• “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