Trieste Forum on Science and Technology Impact on Society and Economy Antonio Sfiligoj Collaborative entrepreneurship and emerging new investment models.

Trieste Forum on Science and TechnologyImpact on Society and Economy

Antonio Sfiligoj

Collaborative entrepreneurship and emerging new investment models

Trieste, mar 5th, 2013

New and Small, innovative firms are Key to employment and economic growth …Nature or nurture?

Democratizing Innovation

Bringing ideas, discoveries to Market

InnovaInnovating,ting,

TodayToday

CollaboCollaborating,rating,TodayToday

FinanciFinancing,ng,

TodayToday

Innovating, Today

Science, Interaction, Test, Design, Make, Test

Invention InnovationInnovationInnovationInnovation

Linear innovation modelLinear innovation modelLinear innovation modelLinear innovation model Dynamic innovation modeDynamic innovation modeDynamic innovation modeDynamic innovation mode

Build to forecasted demandBuild to forecasted demandBuild to forecasted demandBuild to forecasted demand Sense need and create marketSense need and create marketSense need and create marketSense need and create market

IndependentIndependentIndependentIndependent InterdependentInterdependentInterdependentInterdependent

Single disciplineSingle disciplineSingle disciplineSingle discipline Multiple DisciplineMultiple DisciplineMultiple DisciplineMultiple Discipline

Product functionsProduct functionsProduct functionsProduct functions Value to customerValue to customerValue to customerValue to customer

Local teamsLocal teamsLocal teamsLocal teams Globalized teamsGlobalized teamsGlobalized teamsGlobalized teams

The Perceived Nature of Innovation is Changing

From To

The collapsing cost of product building (NOT of company building). •commoditization of technology. (Cameras, sensors, …)•Crowdsourcing of infrastructure. Huge computing power and the capability to scale rapidly.

Rapidly prototyping something and seeing if it works.

“ A CULTURE (AND POLICIES) SUPPORTING POSITIVE FAILURE”

The democratization of innovation

?MANY

INTERACTIONS OUTSIDE !

Crowds Outside

Collaborateto SPEED

DefineNEED

DESIGNMAKE

TEST

The Key Roles of Lead Users

Define The Problem

Name the Problem

ConductObservations

DocumentObservations

Test and RefineProblem Statement

Prepare forObservations

Set upObservations

Exploit the Potential of Therapies based on Autologous Stem Cell

DISCIPLINE OF NEED DEFINITION

VivaBioCell – Italy – Bringing Stem Cell Tissue Engineering in Every Hospital

GMP: good manufacturing practice

VivaBioCell’s GMP-in-a-boxClean Room Cell Facility

• MAXILLO-FACIAL SURGERY• ORTOPEDICS• VETERINARY

The Customer Development Process (*)

(*) Four Steps to the Epiphany – Successful Strategies for Products that Win – Stephen G. Blank 2006

Collaborating, Today

Become Players in Global Ecosystems

MarketOpportunity

Incubators, DevelopmentGencies, Support Business Organizations ..

Company B

Business Angels

Investors

R&D Centre

Company A

Collaborative Entrepreneurship

Min. T-to-Mkt

=> Max. Competitive Adv.

*) Ref: COLLABORATIVE ENTREPRENEURSHIP, How Communities of

Networked Firms Use Continuous Innovation to Create Economic Wealth

Raymond E. Miles, Grant Miles, and Charles C. Snow

CLIENTSCLIENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

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CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

CLIENTSEGMENTS

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CLIENTSEGMENTS

CLIENTSEGMENTS

Business Model 9 Building Blocks

13

VALUE PROPOSITION

VALUE PROPOSITION

COST STRUCTURE

COST STRUCTURE

CLIENTRELATIONSHIPS

CLIENTRELATIONSHIPS

CLIENTSEGMENTS

CLIENTSEGMENTS

KEY COMPETENCIES

RESOURCES

KEY COMPETENCIES

RESOURCES

KEY ACTIVITIESKEY ACTIVITIES

REVENUEFLOWS

REVENUEFLOWS

DISTRIBUTION CHANNELS

DISTRIBUTION CHANNELS

KEY PARTNERSKEY PARTNERS

12

3

4

5

8

6

7

9

Business Model Generation – Alexander Osterwalder, 2010

ATHONET’S PRIMOShrinking costs of technology have allowed to design a breakthrough compact portable Mobile Gateway.

PRIMOLow Cost Mobile Gateway is ideal for Rural Communications

So, it’s Nurture …!What Strategies ?

Research & Invention

BusinessModel

Process

Product/ServiceApplications

CustomerValue

MarketDemand

Public Policy Environment

Innovation Infrastructure

Innovation Framework: Fostering R&D is NOT Enough

“Italian SMEs, have since long implemented different forms of collaboration and integration among them. To answer the economic crisis and the new challenges posed by the global economy, SMEs today need types of aggregation that are more flexible and innovative than traditional ones, in order to increase their competitiveness without giving up their autonomy”.

«Contratto di Rete di Impresa»National Law 33 - 2009Supporting Collaborative Entrepreneurship Market

Opportunity

The “Contratto di Rete”

Must indicate :•strategic objectives re. innovation and competitiveness of the participants, the agreed metrics to measure progress towards objectives•A programme for the network , specifying rights and obligations by each participant, how to implement •The governance process,•A common asset fund

The Tax facility consists of suspension of tax on the profits that the parties set aside in a special reserve to be used to fund the investments foreseen in the network program

583 Contracts / 2803 SMEs in 2012

2000 Contracts/ 15.000 SMEs

in 2016

• More Patents• More Foreign Investments• More Quality Certifications• More Profits and Growth

Financing, today

CrowdFunding, Business Angels, Venture Capital

Discipline of Market

Ask forMoney

Understandtheir

structureand need

Find yourcustomers

Collecttheir

feedbacks

IncorporateFeedbacks

SPEED is Key

The Customer Development Process (*)

FFF, CROWDFUNDINGFoundations /Gov’t

AcceleratorsBUSINESS ANGELS VENTURE CAPITAL

Italian Crowdsourcing Platforms

• www.kapipal.com • www.eppela.com• www.starteed.com• www.produzionidalbass

o.com• www.boomstarter.com• www.crowdfunding-

italia.com• www.sum_molo.comsectorial• www.musicraiser.com• www.cineama.it• www.shinynote.com• www.iodono.com

13 M EUR have financed 3.000 projects

Incubator-Accelerator Case: H-Farm

H-Farm explores the frontiers of the internet in search of dynamic business models and new forms of communication.We look for people passionate about the internet, the innovators who are shaping tomorrow's world.We look for new ideas that truly innovate and simplify technology.

…. And 16 other Start-Ups

Portfolio

Law, n. 179,2012. Taxation Advantages for “Restart Italia”.

«Legge Sulle Start-Up»Supporting New Firms, Credit, Private (Angel) Investors and Incubators Investment

Opportunity

Global Collaborative Entrepreneurship

SMEsSMEs VCInvestors

VCInvestors

ExpertsHR

ExpertsHR

R&DR&D Lead Users

Lead Users

REGION B

SMEsSMEs ExpertsHR

ExpertsHR

R&DR&D LeadUsers

LeadUsersVC

Investors

VC Investors

REGION A

Connecting Innovation Ecosystems

REGION B

Let's Collaborate !

Strategies for Full Employment

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