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									Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




      Wellcome to DTU E’ship course
      Knowledgebased Entrepreneurship 2007

               Entrepreneurship is

               The process of looking at things in such a way, that possible
               solutions to problems and perceived needs may evolve in
               venturing”
                               Saskatchewan Government; Ministry of Learning


                                                      venture (plural ventures)
                                              A risky or daring journey or undertaking.
                                     Here: a daring commercial undertaking with a perspective

                                                     Wellcome, all of you!
John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




        AGENDA
        13:00 – 13:10 Hello everybody
        13:10 – 13:30 The Venture Cup Competition
                      Torsten Kolind & Trine Nygaard Hansen
        13:30 – 13:40 DTU Stardust: the Students’ entrepreneurial Network
                       Kim Lund Sørensen
        13:40 – 14:00 Break + filling out your ID-form
        14:00 – 14:50 The Importance of Entrepreneurship
                       The DTU e’ship course: rationale, contents,
                       lecture plan etc.
        15:00 15:50    Who are you: 30 seconds personal presentation of
                       anyone to everybody. Please prepare. Keep time.
        16:00 – 16:?? The Course Manual: 12 hints


John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




            13:10 – 13:30            The Venture Cup Competition
                                     Torsten Kolind & Trine Nygaard Hansen




   Winners 1,2,3 2007
                                                           Former students
John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




                      13:30 – 13:40
                      DTU Stardust: the Students’ entrepreneurial network
                      Kim Lund Sørensen

                      STARDUST-DTU is independend of party policy and religion
                      STARDUST-DTU is a member of the national association
                      START Danmark, region Copenhagen
                      STARTDUST–DTU aims at furthering the interest in
                      entrepreneurship and innovation amongst students at Technical
                      University of Denmark



                                             HOW, Kim ?



John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




    TIME OUT
    Get your personal ID form
    Fill it out
    Note: No ID form = No Group = No exams = No grades = No credits

John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




            AGENDA
            14:00 – 14:50
            The Importance of Entrepreneurship
            The DTU e’ship course:
                   rationale
                   contents
                   staff,
                   teachers (all types)
                   coaches
                   lecture plan etc.




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




            The Importance of Entrepreneurship
           Germany’s and Japan’s recession, early ninety-nineties in spite
           of massive investments in industrial development was partly
           due to a poor business birth rate: a lack of the enterprising and
           competent cambrium of young talentet entrepreneurs.
           Entrepreneurs have brought USA back in a leading position in
           the global economy. By example: 8 out of the 25 biggest
           companies in US did not exist in 1960. In Europe all 25 biggest
           companies were big also in 1960        (FORA 2007)
           Germany, 1870-ties: die Gründerzeit: French war reparations
           are invested in new german industry to create an economical
           lead that gave Germany a overwhelming competitive strength
           (later to wasted in wars).

John Heebøll
 Institut for Produktion og Ledelse
 Danmarks Tekniske Universitet
 VÆKSTHUS+



The Importance of Entrepreneurship
The Global Entrepreneurship Monitor GEM:
Variation in rates of entrepreneurship may account for as much as one-
third of the variation in economic growth


                                           Best Countries: 15% of New Companies
                                           Start growing rapidly




                                                     Denmark: 5% of New Companies
                                                     expand




 John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




The Importance of Entrepreneurship
Challenges 2007:
• New industrialized nations take over classic industry. Massive
  outsourcing of jobs from west to east
• Large companies locked in heavy investments do incremental
  innovation. Radical break-through and expedient action is the
  entrepreneur’s turf
• The speed of change in knowledge and technology in an
  increasingly global marketplace creates ever more sophisticated
  business opportunities – waiting for the skilled entrepreneur,
  capable of grasping and capturing ideas.




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




                                The Importance of Entrepreneurship
                                The Role of Universities

               Massachusetts Institute of Technology
           • One in four faculty involved in technology venturing
           • 5.000+ companies founded by graduates and faculty
             since 1861 (in av.: 35/yr. DTU: probably 5 – 10)
           • Employees at MIT– companies > 1.000.000
           • Sales of MIT- companies > $250 Billion/yr
             (Denmark 2005 GNP:        $285 Billion)
           • If a nation: MIT Business Community the 24th largest
             in the world
John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




        Alltogether: entrepreneurship makes a
        lot of sense – and now to

                                     THE COURSE




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  Rationale 1: The Eye for Opportunities
   Skulle jeg ønske mig noget, da ville jeg ikke ønske mig rigdom eller
   magt, men mulighedernes lidenskab.
   Det øje som overalt, evigt ungt, evigt brændende ser muligheder
                                 Søren Kirkegaard

   Were I given a wish, I would not want wealth nor power, but the
   passion for opportunities.
   The eye that everywhere, ever young, ever burning, identifies
   opportunities.
                                 Søren Kierkegaard
                                 DK philosopher, 1816 - 55



John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet




                   是我被给愿望, 我不会想要财富或力量, 而
                   是机会激情。到处, 曾经年轻, 曾经多情,
                   辨认机会的眼睛。
                      Søren Kierkegaard, 1815- 1855




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




Rationale 2
High Tech Venturing is a complex, demanding and interdisciplinary
process.

Succes depends on multiple competencies, networks, advanced
technical knowledge, business experience, etc.
Multiple Competencies                 Education and Training
Networks                              Group work, Venture Cup
Business experience                   Mentor program
                                      Simulator training




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




Objectives
        1.    Enable the inner entrepreneur (the burning Eye)
        2.    Learn how to start a company
              = acquire applicable portable competencies
        1+2: Develop a business talent: learn to identify business
              opportunities – and to capture them and exploit them

        •                Create new companies




         Business start-up takes a qualified decision
         Acquire the qualifications needed.

John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  Enable the Entrepreneur

      •        The Near-Entrepreneurial Experience
      •        Introduction to a Working Life
      •        Develop trust in own competencies
      •        Get inspiration from successfull entrepreneurs




                                                           Enable the Entrepreneur
                                                           Learn how to start
                                                           Study experiences
                                                           Train Methods and Principles
                                                           Qualify Competencies
John Heebøll                                               Develop Business Talents
                                                           Create New Companies
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  Learn How to Start and run a Company

      Subjects covered:
      • Basic experiences and practicalities
      • Opportunity-driven creativity
      • Business models and start-up strategies
      • Business planning
      • Marketing economics
      • Financing
      • Business administration
      • Business law
      • Intellectual property rights
      • Management
                                                     Enable the entrepreneur
                                                     Learn how to start
                                                     Study experiences
                                                     Train Methods and Principles
                                                     Qualify Competencies
John Heebøll                                         Develop Business Talents
                                                     Create New Companies
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  Study experiences

      Case Stories:
      • Entrepreneurs
      • Consultants
      • Investors




                                        Enable the entrepreneur
                                        Learn how to start
                                        Study experiences
                                        Train Methods and Principles
                                        Qualify Competencies
John Heebøll                            Develop Business Talents
                                        Create New Companies
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  Train Methods and Principles - 1

      Project-oriented Group Work
      •        Opportunity-driven Creativity
      •        Pre-analysis
      •        Information research
      •        Information analysis
      •        Business model development
      •        Business Planning
      •        Presentation & Pitching


                                                  Enable the entrepreneur
                                                  Learn how to start
                                                  Study experiences
                                                  Train Methods and Principles
                                                  Qualify Competencies
John Heebøll                                      Develop Business Talents
                                                  Create New Companies
 Institut for Produktion og Ledelse
 Danmarks Tekniske Universitet
 VÆKSTHUS+




Train Methods and Principles - 2

       Business Development
       •        Ideas
       •        Pre-analysis
       •        Information research
       •        Information analysis
       •        Business model development
       •        Business Planning
       •        Presentation & Pitching – or
       •        All over again (not on this course,
                however)




 John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  Qualify Your Competencies


      •        Realistic interpretation of opportunities
      •        Qualifying your basis of decision
      •        Develop specific self-confidence
      •        Make a substantiated decision




                                                              Enable the entrepreneur
                                                              Learn how to start
                                                              Study experiences
                                                              Train Methods and Principles
                                                              Qualify Competencies
John Heebøll                                                  Develop Business Talents
                                                              Create New Companies
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  Develop your networks

      •        Meet new people – in the group – and outside
      •        Start working with them in a start-up context
      •        Meet some of the players within financing and consultancy
      •        Meet your customers – your jury!




                                                          Enable the entrepreneur
                                                          Learn how to start
                                                          Study experiences
                                                          Train Methods and Principles
                                                          Qualify Competencies
                                                          Develop Business Talents
                                                          Develop your networks
John Heebøll                                              Develop your business talent
                                                          Create New Companies
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  Develop your business talent

     •         Get to know your marketplace
     •         Find out what can be sold and what not
     •         Develop your capacity for sensing business opportunities
     •         Develop ”the silent merchant”: the continous outlook for
               business opportunity (the burning eye) coupled with the
               continous calculator, working residently somewhere in the
               deep of your mind



                                                           Enable the entrepreneur
                                                           Learn how to start
                                                           Study experiences
                                                           Train Methods and Principles
                                                           Qualify Competencies
                                                           Develop Business Talents
                                                           Develop your networks
John Heebøll                                               Develop your business talent
                                                           Create New Companies
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  Create New Companies

         After the course 
         • Basic competences acquired
         • Insight into the knowledgebased entrepreneurial culture
         • Relations to pre-seed venture capital developed
         • A business idea ready to be launched




                                                      Enable interest i entrepreneurship
You earned your wings                                 Learn how to start
       Now try if they can bear                       Study experiences
       - once you’ve graduated                        Train Methods and Principles
                                                      Qualify Competencies
                                                      Develop Business Talents
                                                      Develop your networks
John Heebøll                                          Develop your business talent
                                                      Create New Companies
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 1

           Thursday, 6 September 2007

           Introduction:
           1. to the course
           2. to the entrepreneurial culture
           3. Presenting the Venture Cup Competition
           4. Presenting StardustDTU


           Practicalities: Forming the Teams
            Submit your ID form (Download it from www.entrepreneur.dk)



John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 2

           Thursday, 13 September 2007
           Presenting the McKinsey Business Plan Competition
           Presenting assistant teachers

           The Basics of Entrepreneurship 1.
           - Preconditions for succeeding a business start-up
           - The entrepreneur: characterization of a person and a working life

           The Basics of entrepreneurship 2.
           - Succes and non-succes in high-tec venturing
           - Classic rules of the Thumb

           Practicalities: Meet Your Team

John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 3

           Thursday, 20 September 2007

           Opportunity-driven Creativity
           - The fabric of ideas
           - Increase your creativity: a systematic approach to developing
                realistic business ideas with a perspective.
           - Examples from earlier courses, etc.

           Practicalities: group meetings start
           Contact your assistant teacher
           One meeting with John Heebøll per group: planning starts



John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 4

           Thursday, 27 September 2007

           Set the Right Strategy
           - From idea to going concern: strategies in high-tec venturing

           Business planning

           External lecturer Dorte Wiene lectures on quality in business
               planning




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 5

           Thursday, 4 October 2007

           Business law
           - Legal forms (Ltd., A/S, ApS etc.)
           - Holding companies: Pros and cons.
           - White Collar Workers’ Act
           - Product Liability
           - Agreements in trade and between shareholders

           External lecturers: lawyers Erik Nyborg & Karin Absalonsen




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 6

           Thursday, 11 October 2007

           Business Economics 1
           - Budgeting
           - From action plan to cash flow budget to capital requirements.
           .
           Summarizing first six lectures

           Case: TBD

           Autumn holidays from 15 to 19 October



John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 7

           7. Thursday, 25 October 2007

           Financing 1
            - Mapping the landscape of investors and capital

           Financing 2
            - Presenting the pre-seed and early-stage investors:
            - Seed Capital Denmark
            - Growth Fund (Vækstfonden)
            - The Venture Capital Company




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 8

           Thursday, 1 November 2007

           Financing 3
           - Funding: the numericals of raising capital

           Market Research and - Analysis
           - Michael Porters Market model
           - The 5-forces in action
           - The value chain




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 9

           Thursday, 8 November 2007

           Sales and marketing
           - Why is this most important activity at all?
           - What makes you a successful sales person?
           - Sales strategies in high tech venturing

           Business cases from earlier courses

           Case: Knud Erik Andersen, CEO, European Wind Farms A/S




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 10

           Thursday, 15 November 2007

           Business management
           - Setting up the administration of your business venture
           - The art of fine business management:
           - The board: roles and practicalities

           - Case: TBD




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 11

           Thursday, 22 November 2007

           IPR strategies for start-ups
           - Components in protecting intellectual property and knowledge
           - The basics of a patent
           - Impacts of economy on IPR strategies for start-ups

           - Case: TBD




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN – 12

           Thursday, 29 November 2007

           Lectures: recapitulation, catching up, cases etc.

           Practicalities: Deadline, McKinsey competition at 12:00 sharp

           Details to follow




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     The LECTURE PLAN - 13
         Thursday, 6 December 2007
         Presenting the McKinsey Business Plan Competition Winners
         About Exam
         - Formalities
         - Presenting your business plan
         Exit lecture
         - The course in retrospective
         -     Entrepreneurship and the history of ideas
         Deadline, delivering business plan for exam evaluation:
         - Thursday, 13 December 12:00
         Exams plan:
         - Thursday 20 December from 8:00 a.m.
         - Friday    21 December from 8:00 a.m.

John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     BREAK!




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet




1. Lecture, 3 rd. session

15:00 15:50                          Who are you?
                                     30 seconds personal presentation of
                                     anyone to everybody.




John Heebøll
    Institut for Produktion og Ledelse
    Danmarks Tekniske Universitet
    VÆKSTHUS+




The Teacher
•    M.Sc. CE. DTH, 1974
•    Mil. service, Research Dept.
•    VIP, DTH, 1976 – 1988
•    DTU Incubator 1988 – 2000
•    DTU Innovation 2000 – 2004
•    Assoc. prof., E’ship, IPL, 1992 ->

                    •      CEO, Gastrotechnology, 2004 -> 2006
                    •      Boardmember, app 15 Start-ups
                    •      Chairman, Swantec ApS
                    •      Boardmember GPT
                    •      Own company: Danish Product Development ApS




    John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




John Heebøll                         Dansk Produktudvikling ApS
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




               PRESENTATION
               30 seconds personal pitch
               •   Name
               •   Nationality
               •   Engineering specialties
               •   Your favourite group

               Take notes, everybody
               in case you would invite the presenter to join your
               team – or you want to be part of hers/his


John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




     BREAK!




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  The Course Manual

           Link




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




  MATERIALS

           •       Knowledge based Entrepreneurship
           •       Overheads
           •       Hand-outs
           •       The DTU Master Student’s Guide to the Entrepreneurial
                   Course. (The Course Manual)
           •       Start-up Handbook (McKinsey)

           All items are available at
           www.entrepreneur.dk




John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
VÆKSTHUS+




 WORK PLAN
 Reference is made to the Course Manual

 Tentative time schedule:
          Kick-off:                  Week 37   Team formed.                   13 September
          1. milestone:              Week 40   Product /business concept OK       4 October
          2. milestone               Week 43   Market research finalised         25 October
          Project deadline:          Week 48   Business plan roughly completed 29 November

 You have two more weeks to finalize and submit your Business Plan
 Deadline: submit business plan Thursday ,13 December at 12:00 am, latest

 Exam:              Thursday, 20 December and Friday, 21 December 2007.
 Plan.              To Be Defined (TBD)



John Heebøll
Institut for Produktion og Ledelse
Danmarks Tekniske Universitet
Greenhouse+




QUESTIONS?




                 ALL for NOW!


John Heebøll

								
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