1. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Wellcome to COURSE 42435 Knowledgebased Entrepreneurship 2006

2. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Agenda Presentation of YOU Our guests to day: IDEAAnne Kirketerp Linstad VenturecupTorsten Kolind Steffen G. Brandenhoff Our mentor programChristian Hauch The Course The Entrepreneur Entrepreneurship: succes & failure

3. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ To Do List Fill out your personal ID form Submit it to John Heebøll -today, 7 Sept.

4. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ PRESENTATION 5 sec. each. 10 sec. at a max. • Name • Specialties • How many years in further education? • If intl. student: from where? • If visitor: why here – and from where ? •Any particular message to the audience ? Take notes if you would invite the presenter to join your team – or be part of hers/his

5. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ PRESENTATION IDEA and Anne Kirketerp Linstad

6. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ PRESENTATION Christian Hauch M.Sc. (DTU 1994), MBA 11years experience with business- and product-development: Head of department, Greenwood Engineering (measuring equipment). Project manager Nokia. Associate professor, IPL, Greenhouse+ Phone:+45 4525 4675 SKYPE: christianhauch Cell: +45 6062 7235 Mail:hauch@ipl.dtu.dk

7. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ The Mentor Program Mentors will be assigned to each team – on request Use them for advice on building you business plan. In particular to get over the hurdles of selecting a business idea, defining a business model and the final trimming of the business plan. Mentors are: John Heebøll and Christian Hauch from Væksthus+ Investment managers from DTU-Innovation External mentors

8. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ PRESENTATION The Venturecup! www.venturecup.dk

9. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ TIME OUT Get your personal ID form Fill it out

10. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Agenda - 2 Presentation of the Course •The Teacher •Mission Statement •Methodology •Course Plan •Textbook and Materials •Work Plan

11. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ The Teacher • M.Sc. CE. DTH, 1974 • Mil. service, Research Dept. • VIP, DTH, 1976 – 1988 • DTU Incubator 1988 – 2000 • DTU Innovation 2000 – 2004 • Ass. prof., IPL, 1992 -> •CEO, Gastrotechnology, 2004 -> 2006 •Boardmember, app 15 Start-ups •Chairman, Swantec ApS •Boardmember, Image Metrology A/S, GPT •Own company: Danish Product Development ApS

12. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Dansk Produktudvikling ApS JOB SHOP! Don’t do it. Stay focussed

13. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll

14. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll

15. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ The Importance of Entrepreneurship

16. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Do We need more entrepreneurs? The Global Entrepreneurship Monitor GEM says YES Variation in rates of entrepreneurship may account for as much as one-third of the variation in economic growth Best Countries: 15% of New Companies Start growing rapidly Denmark: 5% of New Companies expand

17. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Do We need more Entrepreneurs ? YES! They make our industry more robust •New industrialized nations take over classic industry •Large companies do incremental innovation. Radical break-through is the entrepreneur’s turf •New knowledge and technology in an increasingly global marketplace creates ever more sophisticated business opportunities – waiting for the skilled entrepreneur.

18. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Does it Matter what a Uni does? •One in four faculty involved in technology venturing •5.000+ companies founded by graduates and faculty since 1861 •Employees at MIT– companies > 1.000.000 •Sales of MIT- companies > $250 Billion/yr •If a nation: 24th largest in the world Massachusetts Institute of Technology

19. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Does it matter what a university does? Technical University of Denmark

20. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Alltogether: entrepreneurship makes a lot of sense – and now to THE COURSE

21. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Rationale High Tech Venturing is a complex, demanding and interdisciplinary process. Succes depends on multiple competencies, networks, advanced technical knowledge, business experience Multiple Competencies Education and Training NetworksGroup work, Venture Cup Business experienceMentor program Go out and do it!

22. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Objectives •Qualify your interest in business start-up •Learn how to start a company •Study experiences •Train methods and principles = Solid applicable competencies •Develop business talent: learn to see the business opportunity – learn to capture it. •Develop some self confidence: You can do it! •Create new companies Business start-up takes a qualified decision

23. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Evoke the Entrepreneur  Evoke the Entrepreneur  Learn how to start  Study experiences  Train Methods and Principles  Qualify Competencies  Develop Business Talents  Create New Companies •The Near-Entrepreneurial Experience •Introduction to a Working Life •Develop trust in own competencies •Get inspiration from successfull entrepreneurs

24. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Learn How to Start and run a Company  Evoke interest i entrepreneurship  Learn how to start  Study experiences  Train Methods and Principles  Qualify Competencies  Develop Business Talents  Create New Companies Subjects covered: •Basic experiences and practicalities •Creativity and new business ideas •Business models and start-up strategies •Business planning •Marketing economics •Financing •Business administration •Business law •Intellectual property rights •Management

25. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Study experiences  Evoke interest i entrepreneurship  Learn how to start  Study experiences  Train Methods and Principles  Qualify Competencies  Develop Business Talents  Create New Companies Case Stories: •Entrepreneurs •Consultants •Investors

26. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Train Methods and Principles - 1  Evoke interest i entrepreneurship  Learn how to start  Study experiences  Train Methods and Principles  Qualify Competencies  Develop Business Talents  Create New Companies Project-oriented Group Work •Opportunity-driven Creativity •Pre-analysis •Information research •Information analysis •Business model development •Business Planning •Presentation & Pitching

27. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Train Methods and Principles - 2 Business Development •Ideas •Pre-analysis •Information research •Information analysis •Business model development •Business Planning •Presentation & Pitching

28. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Qualify Your Capabilities  Evoke interest i entrepreneurship  Learn how to start  Study experiences  Train Methods and Principles  Qualify Competencies  Develop Business Talents  Create New Companies •Realistic perception of opportunities •Qualifying your basis of decision •Develop specific self-confidence •Make a qualified decision

29. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Develop your networks  Evoke interest i entrepreneurship  Learn how to start  Study experiences  Train Methods and Principles  Qualify Competencies  Develop Business Talents  Develop your networks  Develop your business talent  Create New Companies •Meet new people – in the group – and outside •Start working with them in a start-up context •Meet some of the players within financing and consultancy •Meet your customers – your jury!

30. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Develop your business talent  Evoke interest i entrepreneurship  Learn how to start  Study experiences  Train Methods and Principles  Qualify Competencies  Develop Business Talents  Develop your networks  Develop your business talent  Create New Companies Get to know your marketplace •Find out what can be sold and what not •Develop your capacity for sensing business opportunities •Develop ”the silent merchant”: the continous outlook for business opportunity coupled with the continous calculator, working residently somewhere in the deep of your mind

31. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Create New Businesses  Evoke interest i entrepreneurship  Learn how to start  Study experiences  Train Methods and Principles  Qualify Competencies  Develop Business Talents  Develop your networks  Develop your business talent  Create New Companies After the course  •Basic competences acquired •Insight into the knowledgebased entrepreneurial culture •Relations to pre-seed venture capital developed You earned your wings Now try if they can bear

32. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ Create New Businesses  Evoke interest i entrepreneurship  Learn how to start  Study experiences  Train Methods and Principles  Qualify Competencies  Develop Business Talents  Develop your networks  Develop your business talent  Create New Companies After the course  Greenhouse+ The university business incubator The ”Flight Simulator” • Facilities • Mentoring • Networks

33. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ The COURSE PLAN - 1 1. lecture: 7 September 2006 •Presentations • Introduction to the course • Entrepreneurial basics 1. 2. lecture: 14 September 2006 • Entrepreneurial basics 2. • Meet your team 3. lecture: 21 September 2006 • Opportunity-driven creativity

34. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ The COURSE PLAN - 2 4. lecture: 28 September 2006 •Start-up strategies in high-tech venturing •Business planning •Case: Dorte Wiene, Connect Denmark 5. lecture: 4 October 2006 • Business law by Erik Nyborg, cand.jur. 6. lecture: 12 October 2006 •Budgets

35. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ The COURSE PLAN - 3 After Autumn leave 7. lecture: 26 October 2006 •Financing 1: Mapping the landscape •Financing 2: Pre-seed and Early stage 8. lecture: 2 November 2006 • Financing 2 cont. Venture Capital Case • Financing 3: calculations in VC investment 9. lecture: 16 November 2006 •Business management

36. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ The COURSE PLAN - 4 10. lecture: 16 November 2006 •Market analysis •A case (TBD) 11. lecture: 23 November 2006 • Sales and marketing 12. lecture: 30 November 2006 •IPR strategies for start-ups 13. lecture, 7 December 2006 • Exams • Exit: entrepreneurship in the history of ideas

37. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ MATERIALS •Business Start-up for Knowledge based Entrepreneurs. •Overheads: Hand-outs •The DTU Student’s Guide to the Entrepreneurial Course. (The Course Manual) •Start-up Handbook (McKinsey) All items are available at the course site www.entrepreneur.dkwww.entrepreneur.dk and CampusNet.

38. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ WORK PLAN Reference is made to the Course Manual Kick-off: Week 37 Team formed. 14 September 1. milestone: Week 40Product /business concept OK 5 October 2. milestone Week 43Market research finalised 26 October Deadline: Week 48Business plan completed 30 November

39. Institut for Produktion og Ledelse Danmarks Tekniske Universitet John Heebøll VÆKSTHUS+ BREAK!