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Innovation Processes in Transition; SMEs
by Erkki Ormala
Professor of Innovation Management
Aalto University, Business School
Innovation processes in SMEs
•Involves all the elements of innovation process
•But is not formally organized
•Informal dialogue with key persons
•Close customer orientation
3 © NOKIA
Elements of Favorable Innovation Environment; critical elements for SMEs
FIRM
Good understandingof the changing landscape
Access to top-level research and high quality experts
Easy access to Broadband; abilityto use ICT
Favourable regulatoryenvironment; harmonized rules; IPR provisions; company statutes; taxation, etc
Rich fabric of private partners;enabling vertical and horizontal integration
Access to VCfunding and support
Access to market;Cost efficiencyMacro economic stability
Access to raw materials
Building a VC market
1980s 1990s 2000 and beyond
Public funding, education, incentives
Partnership funding, matching service, risk sharing. education
Public seed funding, risk sharing, education, exit market
Venture capital investments by country
• Million US dollars, 2012
• Estonia (2011) 1.8 Italy 91.7 Australia 331.3
• Slovenia (2011) 2.5 Finland 101.6 Korea 606.9
• Czech Republic 6.7 Denmark 101.7 Germany 706.2
• Russian Federation (2011) 9.3 South Africa (2011) 109.6 France 710.5
• Poland 11.7 Ireland 113.5 Israel 867.0
• Greece (2011) 13.7 Belgium 115.9 United Kingdom 929.1
• Luxembourg 14.2 Norway 143.4 Canada 1470.1
• Portugal 20.4 Spain 148.1 Japan 1553.6
• New Zealand (2011) 28.9 Switzerland 209.5 United States 26652.4 (75% of all OECD)
• Austria 43.5 Netherlands 226.5
• Hungary 82.6 Sweden 285.6
• 1 2 http://dx.doi.org/10.1787/888932829837
Small Business Investment Company in the US (SBIC)
• Established 1958• Direct investments in VC funds and quarantees• Last year 2.2 billion US$• Profitable
Private corporate VC companies; case Nokia
• BlueRun Ventures (BRV®) is an early stage venture firm focused on mobile opportunities in key global markets. Offices in Menlo Park, Beijing, Shanghai, and Seoul.
• Nokia Growth Partners. In a converged digital world, every business must be mobile. NGP provide access to resources beyond the capital investment: mobile expertise, strategic guidance, a global network of partners and thought leaders, and innovative partnership opportunities.
Plug and Play; Silicon Valley in a Box
• Private business incubator• 300 companies• Other locations: San Diego, Canada, Jordan, Singapore• Weekly meetings with VC companies and experienced
industry leaders• Big company sponsors• Ten times better than the current competitive offering• Transfluent
Venture capital in Finland
• TEKES: R&D, Organization and process development, Internationalization; Rapid growth; venture investements 200k€->500k€->1000k€
• Vision+: new partnering model; a revenue shared business model without dilution http://visionplus.fi/
• Tax incentive: private persons can deduct losses up to 200 k€
Partnering
• Partnering is a key to success for SMEs• Patnering can take many different forms: customers (Delfoi),
platform providers (Rovio, Supercell) , subcontractors, etc• IPR plays a significant role• Internationalization is a big step where a global partner can
help a lot (Forum Nokia)
Nokia Developers Community –Large and Active
11
4.5 milloin of developers
Over a millionmonthly visitors within our community sites (wiki, blog, discussion boards)
Research & Education
AppCampus
3500+ submissions reviewed in 24 mths300 Investment decisions made100 Applications launchedAproaching 10 million downloads
Corporate partners ComplementaryPartiesCoaches
PYK (Small Business Center)
Training for entrepreneurs
Aalto Center for Entrepreneurship
Around 200 innovation proposals/year -> 10-15 companies->15-20 patent applications
Aalto Ventures Program
Problem based learning program to foster entrepreneurial mindset and skills
Co-operation with Stanford
Startup Sauna
30-40 companies in acceleration / year 20 million Euros raised30 students trained with internships
SLUSH Established as the leadingStart-Up event in Europe
Aalto Start-up Center80 companies in incubation/ 32 high growth
AaltoES
9000 community members100 activists Annually 8000 participates events
EIT ICT LabsEIT Nodes &partners in Europe
Entrepreneurship ecosystem
Aalto University: Expertise workshops: Design Factory, Media Factory, Service Factory and Health Factory• Combining the expertise of the
schools in the fields of product development, media and services.
• Students, researchers and companies will meet in connection with joint projects.
Units based on Design Factory's
mode of operation have also been established at
universities in Shanghai, Melbourne and
Santiago.
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