From PhD student to entrepreneur

Today’s story is about…

Pitch Technology

Experience

How it started

I started my PhD in 2011

Robust Anodes for SOFC

SOFC Anode

Properties

Microstructure Synthesis

Tune the SOFC Anode’s

microstructure so I will get an enhanced

performance

NANOFIBERS!

The invention

The seed for the business idea

Entrepreneurship Workshop at ADEM Conference

Andre ten Elshof (Professor) Committee

Why don’t you show

your material?

I don’t want to

make business

Raising Interest

Some research groups started asking for material to me

Andre ten Elshof (Professor)

Bahruz Mammadov (MSc Student)

Hey man, let’s

make a business!

Register a company and sell samples for R&D

The Initial Business Idea

Make materials dedicated to R&D

Universities

Research Institutes

Industrial R&D

VOF: 2 person company

Registering a VOF take 50€ and 20 min… LITERALLY!

But we need money…

Early Business Development Course

• Course offered by MESA + (UTwente) • How to build a business plan • How to apply for seed funds

– Focused on the STW Take Off Grant

• Practice pitch in front of committee…

This is bullshit! You need to aim

higher…

Investor

The 80/20 rule

• Pareto Principle: “~80% effects come from ~20% of the causes” – 80% of the land was owned by 20% of the population – 80% of the fruits were produced by 20% of the plants

• In business: ~80% of the income come form 20% of the costumers

Focus your work on what gives most benefit!!

TIME Income

Change of Strategy

R&D Products

Lot of Time Small Income

Customized Small Orders

Find the right application for our

material

Steady Income Focussed Development

STW Take Off Grant

For Feasibility Studies

Give us money to find the right application!

Applications

Filtration

Biomedical Catalysis

Fire resistant Thermal insulation

Screening Applications

0

0.5

1

1.5

2

2.5

3

3.5

0 5 10

Pric

e

Performance

Proposed Product

Standard solution

1 Find a problem that we

can solve

2 How many people have this problem?

3 How much do they want

to pay?

Business Idea Generation How it’s supposed to be

Identify Problem

Invention

Solution

How we did it…

Invention

Identify Problem

Solution

We found the right application

✔ Big problem in the industry ✔ Lot of products sold yearly

✔ Competitive price with much better performance

Market study Market size, growth and segmentation

Benchmark Specifications Competitors

Value Proposition

The

proposed solution

Business Plan

Value Proposition

The

proposed solution

Business Plan

Costumer Segments

Cost Structure

Key Activities

Key Resource

Costumer Relation.

Distribut. Channels

Key Partners

Revenue Stream

Costumer Segments Who is your costumer?

What does he want?

The business plan is dependent on the costumer

Costumer Relationships

What deal do you offer? Best Cheapest Customized

Distribution Channels

How will you reach the costumer?

@

Direct Costumer- Costumer

Distributor Internet

Supplier Material Production

Product Assembly Distribution

Key Activities

What will you do? Value Chain

Added Value / Added Complexity

Key Resources

What do you need?

IP / Know How Production facilities Team

Key Partners

Who do you need? Universities Collaborations Outsourcing Suppliers

Finances

REVENUE STREAM How will you earn money?

COST STRUCTURE How much will you spend?

Where we are Closing

Investment

Move Out University Increase

Team

Buy New Tools

Speed Up Develop.

Increased Production

Prototype Find Costumers

Present

Conclusions