Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in...

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Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

Transcript of Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in...

Page 1: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

Building the Entrepreneurial Ecosystem in Auckland

A Perspective from The University of Auckland Business School

9 December 2013

Page 2: Building the Entrepreneurial Ecosystem in Auckland · 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

Page 3: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 4: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 5: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

MIT Innovation Pipeline

Academic & Research Offices

Support & Alum Offices

Student & Informal Organisations

Source: Joost Bonsen – MIT Innovation Ecosystem - MediaLab

Page 6: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 7: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 8: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 9: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 10: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

NZ Investment Ecosystem- 2002/03

Page 11: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013
Page 12: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013
Page 13: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

MIT Innovation Pipeline

Academic & Research Offices

Support & Alum Offices

Student & Informal Organisations

Page 14: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 15: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

20,000,000

40,000,000

60,000,000

80,000,000

100,000,000

120,000,000

140,000,000

1990 1995 2000 2005 2010 2015

Revenue

Page 16: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013
Page 17: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 18: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

What We Do

Inspire To become entrepreneurial

Educate Business Entrepreneurship

Fundamentals

Motivate Develop new ideas for new

ventures

Page 19: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

2013

Challenges

Networking

Education

Events

How We Do It

Page 20: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 21: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 22: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013
Page 23: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

Success – Changing Culture

Page 24: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

Success - Venture Creation

100+ ventures launched Attracted $142+ million investment

Created 300 jobs Selling in 30 countries

Page 25: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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)

Page 26: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013
Page 27: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013
Page 28: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 29: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 30: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

*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

Page 31: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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

Page 32: Building the Entrepreneurial Ecosystem in Auckland · Building the Entrepreneurial Ecosystem in Auckland A Perspective from The University of Auckland Business School 9 December 2013

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…