Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in...
Transcript of Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in...
Building the Entrepreneurial Ecosystem in Auckland
A Perspective from The University of Auckland Business School
9 December 2013
Transforming Knowledge to Wealth
• 1950’s - NZ GDP per Capita #3 in world
• Farmyard of Britain – agriculture commodities
• UK entered the EEC in 1973 – quotas, subsidies
• Slippage - “3rd to 30th in 30 years”
Answer: Develop knowledge based economy
• Universities
- Increase research expenditure
- Transfer knowledge to business
Result: Return NZ to Top Half of OECD Rankings in 10 years
Building a Knowledge Based Economy
Intellectual Capital Financial Capital
Human Capital Skilled entrepreneurial people who
understand Commercialisation
Social Capital Contacts and Networks to secure
information and resources
A. 4 Types of Capital
C. University activities promoting commercialisation / entrepreneurship
B. Regional Entrepreneurship Ecosystem
E. Takes around 2-4 Decades
D. Requires a new breed of graduate
Situation Review 2001
• Low investment in R&D
• Words “Intellectual Property” seldom mentioned
• No Chief Scientist
• Limited linkage - Industry to Universities/CRI’s
• No “visible” Business School in Auckland
• No programmes inspiring innovation & entrepreneurship
• Limited expertise w/ Tech Start-ups in Professional Service Firms
• Few high-tech start-ups
• No Serial Entrepreneurs
• No Business Incubators or Accelerators
• No Seed Funds
• No Angel Investors
• Almost No Venture Capitalists
• No NZ Venture Investment Fund/NZSCIF
MIT Innovation Pipeline
Academic & Research Offices
Support & Alum Offices
Student & Informal Organisations
Source: Joost Bonsen – MIT Innovation Ecosystem - MediaLab
UofA Regional Entrepreneurial Ecosystem
Objective
• Develop
A spirit of innovation and knowledge of commercialisation
A mind-set and culture of entrepreneurship
The business-savvy scientist / engineer
• Foster the building of contacts and networks
Activities
• Provide
Inspiration
Education
Motivation
Incubation
Nurturing
Funding
Employees / Interns
Global Networks
Initiatives Undertaken
• Promoted greater spending on Research
• Extensively promoted UK “Third Stream Activities” model Hauser/Hiscocks
Visits to Govt/Uni (NZ – UK Visits 2002-04) • University VC/Deans actively support new initiatives • Introduce Spark/Chiasma/Entrepreneur in Residence
• Auckland Uniservices (1989)
• Chair of Entrepreneurship – Prof Dunn (2003) • Chair of Innovation/Knowledge Management – Kenneth Husted (2005) • Vision to Business – free 13 week course (2003) • Bio-Entrepreneurship (2004) – Masters BioScience Enterprise (2006) (Create Business Savvy Scientists) • New courses being developed for core curricula in various Faculties (2006) • ICT Academy (2004/05/06) (GIPI) • Entrepreneurs in Residence (2004) – Various • Upgrading of MBA (2006)
Create Knowledge
Change Culture
Tech Transfer
Teach Business Building
Initiatives Undertaken • Launch Spark (2003) The Entrepreneurship Challenge • Introduce I-volve (2005) • Introduced to Canterbury University (2005) – Dunedin (2006) • Introduce to University - 140+ through Spark & V2B (2003) - through Chiasma (2004) • Outreach to business community – Spark – “Exposure” Poster Competition
• ICEHOUSE Incubator (2001) Access to Advisors/Mentors/Investors – 400 • SBS – PFE establishing a Biotech incubator (2004) – 5 companies
• NZVIF – established (2002) • NZVCA – established (2002) • ICE Angels Club established (2004) • Proof of concept (2008 – Uniservices – Icehouse) • University - Chiasma – Promote Biotech Enterprise/Industry Links (2004) New Zealand - Incubators NZ (2002) - Establish NZBio Akld Chapter (2003) - Expand Angel Network in NZ (2005) - Connect Auckland (2005) International - Expand KEA (Kiwi expats) (2004/05) • ICEHOUSE “Growth” programmes • Courses - Owner Manager (2002)/Go-Global (2003) - Business Growth
Business Plan Competitions
Entrepreneurial Role Models
Nurturing Environment
Funding
Networks
Ongoing Business
Development
Integrated Regional Entrepreneurial Ecosystem
Spark
Grantees
University research / UniServices
Incubators & Accelerators
Seed funding
Professional Service Firms
Angel Funding
International networks
Venture Capital
Global company
Awards
Capability Building
Other sources of ideas
NZ Investment Ecosystem- 2002/03
MIT Innovation Pipeline
Academic & Research Offices
Support & Alum Offices
Student & Informal Organisations
Spark Challenges –Ideas/ $100K Business Plan Competition
Spark Education - V2B / I2B / Launchpad; Chiasma
Seed Funding - GDI
Integrated Regional Ecosystem in Action
Interns / Grads – Business Savvy
Entrepreneurship Club / Industry Organisations
UABS Entrepreneurs Challenge
Capability Building – UABS Courses
Projects – MBA/MCE/MBE Courses
Angel funding - ICE ANGELS / NZSCIF
Continued Growth / Exits
Capabilitie
s /
$’s
Time
TTO – UniServices / Research / MBIE/CI Grant
Venture Capital / NZVIF
Spark Inspiration – Launch / Other Events, Chiasma / Imagine Cup / UniServices Research
Go International – NZTE / KEA
Professional Service Firms
Incubation – ICEHOUSE / IIB / Accelerators
Orange = Spark / Black = Uni Activities / Green = Third Parties © 2013 Geoff Whitcher
MIT Exec Development Program
UniServices at a glance • 700 staff (500FTEs) on our payroll
and engage 550 academic staff.
• $135 million in 2012
- doubled in 7 years
• We invest in emerging technologies
and capabilities
• Market cap of companies based on our
technology more than $250 million
0
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1990 1995 2000 2005 2010 2015
Revenue
A student led initiative that stimulates the creation
of wealth in New Zealand by fostering and promoting a spirit of innovation and
culture of entrepreneurship at The
University of Auckland
What We Do
Inspire To become entrepreneurial
Educate Business Entrepreneurship
Fundamentals
Motivate Develop new ideas for new
ventures
2013
Challenges
Networking
Education
Events
How We Do It
Integrated Entrepreneurial Programme for All Students & Staff
Three separate phases provide:
Inspiration and motivation – exposure to iconic entrepreneurs
Education – lectures, seminars, clinics, workshops, mentoring
“Learning by doing” – 3 submissions into 2 competitions: - Ideas & $100K Challenge
Prize money – for additional motivation
Risk free environment to test ideas/concepts
Feedback from experienced industry experts
Mainly delivered by volunteers – 30 students & 150 business community
Opportunities for co-mingling of students and business people
Strong networks
LaunchPad Education / Mentoring
$100k Challenge - 1 Competition
Competition
Launch Event
$100K Finalist Prize Giving Event
Ideas Challenge Prize Giving Event
Event
Ideas Challenge
Feedback sessions
Vision to Business / Innovation Seminars
Ideas to Business Education
Feedback sessions
Sta
ge
1
Sta
ge
2
Sta
ge
3
Spark Programme
$100K Final Prize Giving
$100k Challenge - 2
Education
Competition
Feedback sessions
Success – Changing Culture
Success - Venture Creation
100+ ventures launched Attracted $142+ million investment
Created 300 jobs Selling in 30 countries
Success – People New Breed of Graduate (particularly STEM)
Filling the Talent Pipeline
Innovative – Entrepreneurial – Business-Savvy – Globally Connected
• Essential in a knowledge economy – Entrepreneurs (Fady Mishriki, Logan Wait, Alex Dunayev, Simon Malpas, Colin Green, Daniel Robertson)
– Start-ups (LanzaTech, PowerByProxi, TrascribeMe, Book Track)
– SMEs (Orion Health, Xero, Trademe, Fishpond, Inro, Telemetry Research)
– Major Corporates (Fonterra, Telecom, F&P Healthcare, F&P Appliances, Datacom, Meridan)
– Top Tier Professional Service Firms (Management Consulting, Accounting, Legal, Investment Banking, Patent Attorneys)
– Government Departments (Treasury, MBIE, NZTE, Callaghan Institute, NZVIF)
• Internationally Competitive – 27 at Top International Graduate Schools (completed or in process)
– Stanford Summer Institute of Entrepreneurship – 2009 (2), 2010 (1), 2012 (1), 2013 (1)
Centre for Innovation & Entrepreneurship
Curricula
•Experiential Learning
•Under Grad
•Post Grad
•Exec Ed (MBA)
•Project work, guest lecturers & speakers, judges, mentors
Resources
•Books
•Papers
•Magazines
•Websites
•Blogs
•Network
Ecosystem / Network
•Entrepreneurs
•Investors (Angels, VCs)
•Business Community
•Academia
•UniServices
•Government (Central / Regional / Local)
EClub
•Entrepreneurship related events
•Workshops
•Presentations
•Seminars
•Networking
•Clinics (for Alumni)
Student Entrepreneurial
Activities / Engagement
•Student Initiatives
•Spark
•Chiasma
•Employment
•Full time
•Part time
•Internships
•Mentoring / Advice budding entrepreneurs
Research
•Advice / support / contacts / engagement / funding
•FBRG
•GNZB
•NZ Asia Institute
•Innovation in Traditional Industries
•Other Entrepreneurial related research
CfEL
Curricula - Programmes
Undergraduate Postgraduate
BCom Major Innovation &
Entrepreneurship
Master of Bioscience Enterprise
Master of Commercialisation &
Entrepreneurship
Develop essential understanding and knowledge of the entrepreneurial and innovation process
Interdisciplinary programme aims to give science graduates the skills, knowledge and networks to move with confidence in the worlds of science and business
Develop core knowledge and skills essential to move research and innovation from the lack or an idea to the workplace. Become business informed
Curricula – Courses
Various courses in other programmes • Bachelor of Science • Bachelor of Engineering • Master of Commerce • MBA
*NEW* PhD Commercialisation Workshops
• 2 day workshops for PhD students nationally
• Topics to be covered include:
– The economic role of science in society
– Pathways for capturing value from science
– Identifying potential commercial applications for the students’ research
– How to protect the intellectual assets of your research
– Core steps in the commercialisation pipeline
– A peek in the academic entrepreneur’s toolbox
– Career possibilities
New Development Extended Integration
UniServices – Business School – Spark
Surface more ideas – bring to market better and quicker
• New Programmes/Courses Now in Curriculum – MBE/MCE/MBA
- Pre-Commercialisation - Analyse + Review
- Commercialisation Strategies
- Marketing / Market Development Plan
- International Market Entry Plans
• Internship – Summer/Casual – knowledgeable personnel
• Spark – Power of Network – awareness and incentive
Centre for Innovation & Entrepreneurship (Centre for Entrepreneurial Learning)
The University of Auckland Business School www.cfel.auckland.ac.nz www.spark.aucland.ac.nz
For New Zealand the best is yet to come…