Business Incubator

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Business Incubator. 17 September, 2014 Olli Mankonen. Incubation history in Turku. started 1989 1989-2000 ”one man show”: shortage of human resources heavy recession 1990-1994 economical growth 1995-2000 venture capital available 1995- - PowerPoint PPT Presentation

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PowerPoint Presentationdevelopment of our services (=more added value)
TULI
LIKSA
office and lab space
networking: connections to financiers, universities, consultants etc.
financial support
LIKSA-finance (for business planning)
Advising, sparring
Informal process
Other consultants
Sales
Source Code Finland
Education: universities, TE-keskus, Finnvera
About 750 jobs
About 25 companies have received finance from VC-investors or business angels
Growth rate has not been satisfactory
employees
> 50
21-50
11-20
5-10
<5
Bio
2
1
6
1
23
ICT
4
23
37
Others
1
7
35
Business plan was not acceptable
Strategy was not clear, several product ideas without clear focus, unrealistic goals
Several meetings during 2002
Finance negotiations
Accepted to incubator on February 2003
Started in incubator on March 2003
e-Book lending system, online bookstore for e-books
GAP-program
England, Sweden, Denmark
5 employees
First contact July 2001
“Nothing happened”
First business plan (”quick and dirty version”) on March 2002
Acceptable business plan in the end of March 2002
Accepted and started in incubator on April 2002
No venture capital, small loan, positive cash flow
LIKSA-finance on May 2002
Finance negotiation started
Venture capital investment on June 2003
15 people