It High Tech Company Business Plan

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					    Turning a business plan into a solid company




ORGANISED BY:




                                                                R&D Division
        K.U.Leuven                                               INCENTIM
  Research & Development
                            ORGANISED WITHIN THE FRAMEWORK OF
                            Vlaams Innovatienetwerk




   HIGH-TECH GROWTH MANAGEMENT
                    Integrated and modular programme

          Leuven, November 2002 – March 2003
            HIGH TECH                                                     GROWTHE
THEME & PROGRAMME
The integrated programme on "High-Tech Growth Management" confronts topics and
issues related to the management of growth within high-tech start-ups that have been
successfully launched and are now working hard to develop a sustainable position in the
market. This programme provides guiding frameworks and insights that are relevant to
handling problems frequently encountered during such a trajectory. Themes include the
development of a sustainable business model, internationalisation, research & development,
marketing and sales, and organisation & human resource management issues.

The first module sketches an overall picture, after which each of the following modules will
focus on one particular subject area relevant to high-tech growth firms. All modules are
scheduled during the late afternoon (4 - 7 pm). The modules will combine an overview of
current practice (“state of the art”) with lessons from the field (“company testimonials”).



MODULE I − GROWING PAINS OF A HIGH-TECH VENTURE

                                                                        Tuesday, November 26, 2002, 4 - 7 pm.

Prof. Dr. Ir. Koenraad Debackere, Managing Director K.U. Leuven Research & Development,
Chairman Gemma Frisius Fund (K.U.Leuven), Professor of Technology and Innovation Management.
Dr.Ir. Pierre De Muelenaere, Chairman of the Board of Directors and member of the Executive Committee of I.R.I.S.

High-tech venture entrepreneurs have very often developed a thorough understanding of developing and
writing a business plan. This indeed is a “conditio sine qua non” to satisfy potential investors. However, once
the business plan has been written and successfully defended and the investors are on board, the entrepreneur
becomes critically aware of the fact that translating the business plan into a real and solid company is not an
easy thing to do. This growth path requires strategy formulation and implementation, necessitates a lot of
market experimentation, and requires experience that is often lacking in the entrepreneurial team. In this
module, we deal with those issues of strategy implementation. The major questions addressed are: How do
we turn a business plan into a solid company? What are the common pitfalls and what are the ingredients for
success? What models and instruments can be used by the entrepreneurial team to increase the chances of
success with this endeavor?




MODULE II − STRATEGY DEVELOPMENT FOR HIGH-TECH
VENTURES

                                                                        Tuesday, December 10, 2002, 4 - 7 pm.

Prof. Dr. Herman Daems, Chairman of the Board of GIMV, Chairman of the Board of BARCO.
Dr. Ir. Jan Leuridan, Executive Vice-President and Chief Technical Officer, LMS International.
The development of a sound and clear strategy that can be a guiding framework for the years to come is a
crucial element in transforming a high-tech start-up into a solid and sustainable company. This module deals
with defining and pursuing a sustainable strategy. In this respect, it may prove necessary for a fast-growing
high-tech venture to balance a clear focus on the company's core activities, with the development of
complementary activities, which may eventually lead to the opening up of promising new opportunities.
Beside this need for ‘strategic flexibility’, the dynamic nature of strategy formation in turbulent
environments will be discussed.




MODULE              III      −       FINANCING               GROWTH                &       CREATING
SHAREHOLDER VALUE

                                                                        Tuesday, January 14, 2003, 4 – 7 pm.

Prof. Dr. Benoît Leleux, S.Schmidheiny Professor of Entrepreneurship and Finance, IMD.

Accelerated growth, in a start-up or developing company, poses specific challenges with respect to the
company's finances. A limited set of economic actors have developed the skills and tools to operate in that
"constrained" environment. The seminar will focus on the financial problems faced by high-growth
companies in general (start-ups, new ventures, buy-outs), addressing the topic from both the capital seeker’s
and the investor’s point of view. Issues to be addressed include sources of financing that are available and
appropriate for a particular business, what are key elements of a deal structure, the rationale for the various
parties involved and a current overview of the market situation in the private equity / venture capital worlds.




MODULE                IV         −     MARKET                DEVELOPMENT                       IN        AN
INTERNATIONAL ENVIRONMENT


                                                                        Tuesday, January 28, 2003, 4 – 7 pm.

Dr. Stefan Stremersch, Assistant Professor of Marketing and Research Fellow, Erasmus University
Rotterdam.
Ir. Alain De Taeye, President and CEO Tele Atlas.

This module discusses how sales figures of new products grow in the marketplace. It reviews growth
patterns, especially during the early development of a new product (e.g. the existence of a sharp takeoff
and/or a saddle) and how innovations spread across boundaries. It discusses the implications of these growth
patterns for new product growth management. This module also deals with the development outside the
venture's home market. Strategies for international market development include setting up subsidiaries,
licensing, acquisitions, as well as knowing the decisive criteria in choosing one strategy over another, the
most common pitfalls, and the implications of choosing one market development strategy over the other.
MODULE              V     −     RESEARCH                 &      DEVELOPMENT                     IN      AN
INTERNATIONAL ENVIRONMENT

                                                                      Tuesday, February 11, 2003, 4 – 7 pm.

Mr. Hans Gilliams, Secretary-General and Vice-President, Belgian Association of European Law, Partner
Eubelius.
Dr. Ir. Dirk Callaerts, CEO, Eyetronics.

High-tech companies often have to deal with international markets, international customers and international
competitors. This is no small task. This module explicitly deals with the issue of international deployment of
the technological capabilities of a high-tech venture. Questions addressed are: At what point to “go
international”?; The do’s and the don’ts of protecting your knowledge and intellectual property when “going
international”; Commercial models available to you and when to choose one (e.g. licensing models versus
product models); What to do if international customers pay for co-development?.




MODULE VI − OPERATIONS MANAGEMENT

                                                                      Tuesday, February 25, 2003, 4 – 7 pm.

Prof. Dr. Marc Lambrechts, Head of the Department of Applied Economics, K.U.Leuven.
Mr. Johan De Schepper, Management Consultant, w.exp.

This module explores the strategic role of operations management (OM) in knowledge intensive ventures. It
tackles some of the critical ‘do’s’ and ‘don’ts’ in operations, starting from concrete, real life examples and
argues for a solid connection between operations management and the strategy of the venture. In addition,
the module takes a look at some recent ideas that go beyond transactions based on OM-systems and that
focus instead on optimization. Factory Physics is an excellent example of this way of thinking. Factory
Physics offers a systematic description of the underlying behaviour of manufacturing and distribution
systems, it identifies levels of improvement and analyses basic trade-offs. The module explores the basic
principles of Factory Physics and applies them in a practical way, showing how Factory Physics can become
translated into a valuable managerial decision tool.




MODULE VII − KEEPING AN EYE ON PERFORMANCE

                                                                         Tuesday, March 11, 2003, 4 – 7 pm.

Prof. Dr. Werner Bruggeman, Professor of Management Accounting and Control at the University of Ghent
and at the Vlerick Leuven Gent Management School.
Mr. Jan Schoevaerts, Managing Director, MEDA.

In the midst of the inherent turbulence of daily operations and developing products and markets, one can
easily lose sight of critical performance indicators. The purpose of this module is to explain the concept of
the Balanced Scorecard and to show (1) how it can be applied to translate strategy into performance
measures on the functional, business unit and corporate level of the company and (2) how it can be used to
put strategy into action as a management tool for change.
MODULE               VIII         −       KENNIS,             KENNISWERKERS                        EN
KENNISMANAGEMENT

                                                                Dinsdag, 25 maart, 2003, 16u00 – 19u00.

Prof. Dr. Ir. Mathieu Weggeman, Technische Universiteit Eindhoven.
Mr. Marc Boumans, Internationaal Personeelsdirecteur, Egemin.

Kennis veroudert steeds sneller. Daarom neemt in professionele organisaties de aandacht voor de
productiefactor ‘kennis’ nog voortdurend toe. Interessante informatie komt overal vandaan. De
geldigheidsduur ervan wordt alsmaar korter en we kunnen vandaag steeds moeilijker voorspellen welke
informatie morgen van belang zal zijn. Managen op basis van planning & controle heeft daarom zijn beste
tijd gehad. De toekomst is aan de kennisvriendelijke organisatie waar professionals, gedreven door een
collectieve ambitie en ondersteund door slimme ICT, met kennis van zaken kunnen en mogen handelen. Met
andere woorden, we moeten naar organisaties waar het delen van kennis onderdeel is geworden van het
primaire proces. In deze module bekijken we de theorie en de praktijk van de uitbouw en ontwikkeling van
kennisintensieve organisaties.




                                                       THE SPEAKERS
MR. MARC BOUMANS                                            Innovation Management). Koenraad Debackere is
                                                            Managing Director of K.U.Leuven Research &
Marc Boumans is licentiaat Psychologische en                Development and Chairman of Gemma Frisius Fund,
Pedagogische Wetenschappen aan de Universiteit van          the seed capital fund of K.U.Leuven, Chairman of
Gent. Hij volgde tevens de post-academische opleiding       Leuven.Inc (Leuven Innovation Networking Circle)
Bedrijfseconomie aan het IPO.        Hij startte zijn       and Director of IWT-Vlaanderen (Institute for the
loopbaan bij O&E, een selectiebureau met specialisatie      promotion of innovation through Science and
in industriële verkoop. In 1992 zette hij de stap naar      Technology in Flanders).
Organon Teknika om daar als personeelschef te
functioneren. Sinds 1997 is hij tewerkgesteld bij           DR. IR. PIERRE DE MUELENAERE
Egemin als internationaal personeelsdirecteur. Hij is
tevens gastdocent bij o.a. Flanders Business School,        As a young electronics Civil Engineer Pierre De
EHSAL en UAMS (University Antwerp Business                  Muelenaere set up I.R.I.S. in 1987. The company is
School).                                                    based on his doctoral thesis on the development of new
                                                            specialist microprocessor architectures for image
PROF. DR. WERNER BRUGGEMAN                                  recognition. After a management buy-out, he became
                                                            jointly responsible for all the activities. Pierre De
Werner Bruggeman is Professor of Management                 Muelenaere is a member of the I.R.I.S. Executive
Accounting and Control at the University of Ghent and       Committee, he is also Chairman of the Board of
at the Vlerick Leuven Gent Management School. He is         Directors. Pierre De Muelenaere has gained solid
a Partner at the Vlerick Leuven Gent Management             international experience as the key figure in many
School and Managing Partner at B&M Consulting,              cooperation agreements with strategic partners in the
specialised in implementing Integrated Performance          USA, Europe and Asia.
Measurement and Activity-based Cost Management
Systems.                                                    MR. JOHAN DE SCHEPPER

DR. IR. DIRK CALLAERTS                                      Johan De Schepper provides through w.exp. business
                                                            advice to start-up companies. Over the last 17 years he
Dirk Callaerts has been CEO of Eyetronics since             has held various positions within the Amylum Group,
September 2001. He is also President and CFO of 3D-         an agro-business multinational with over 18 production
Eyetronics Inc, a Californian corporation. Prior to that,   sites worldwide. He held ultimate responsibility for
he was working as Marketing and Operations Manager          sales and marketing, regional operations management
at Easics, a company that was co-founded in 1991.           and integrated supply chain (group logistics, global
Between 1991 and 1994, he was advisor to the                purchasing). The scope of activities was European as
Minister-Presidents G. Geens and L. Van den Brande          well as global. Today this experience is used in start-
of the Flemish Government on Science Policy. Prior to       up companies who, in terms of technology or expertise,
that, he was full-time researcher at the ESAT               lack some of the critical elements in commercial and
department of the K.U.Leuven. His specialisation is in      operations management.
biomedical signal processing, DSP, image processing
and pattern recognition. He holds a Ph.D. and is            IR. ALAIN DE TAEYE
currently guest professor at the K.U. Leuven.
                                                            Alain De Taeye is President & CEO of Tele Atlas. Tele
PROF. DR. HERMAN DAEMS                                      Atlas is the world leader in digital mapping, with
                                                            extensive digital maps of Europe and the US. These
Herman Daems is Chairman of the Board of GIMV,              maps are widely used as the basis for car navigation
and Chairman of the Board of BARCO. In 1999                 systems, location based services and in business
Daems became Chairman of GIMV after a career in             applications such as telematics, fleet management, geo-
academia, policy-making and consulting. He continues        marketing and geo-data applications. He received a
today his professorship in International Management         degree in civil engineering from the State University of
and Strategy on a part time basis at the Department of      Ghent in 1979.
Applied Economics of K.U. Leuven. He is currently a
visiting professor with IESE in Barcelona.                  MR. HANS GILLIAMS

                                                            Hans Gilliams, member of the New York (1987) and
PROF. DR. IR. KOENRAAD DEBACKERE
                                                            Brussels (1992) Bars, also admitted to appear before
Koenraad Debackere is Full Professor in Technology          the Court of Justice of the European Communities and
and Innovation Management at K.U.Leuven and                 the Court of First Instance of the European
faculty member at the Vlerick Leuven Gent                   Communities. Lic. Juris, 1984, K.U.Leuven. LL.M.,
Management School. He is Head of the K.U.Leuven             Harvard Law School, 1985. Legal Secretary to the
R&D division INCENTIM (International Centre for             Hon. W. Van Gerven, Advocate-General at the Court
Research on Entrepreneurship, Technology and                of Justice of the European Communities, Luxembourg,
1988-1992; Secretary-General and Vice-President,         the Board of Directors at LMS International since
Belgian Association of European Law, 1994 - present.     1987.

PROF. DR. MARC LAMBRECHT                                 MR. JAN SCHOEVAERTS

Marc Lambrecht is Full Professor in Operations           Jan Schoevaerts is Managing Director of MEDA, a
Management and he is Head of the Department of           company that provides solutions and related services
Applied Economics, K.U.Leuven. He specialises in         for the clinical-technical patient environment and the
managing the capacity structure of firms and the         associated process management. Before that, he was
reduction of all sources of variability in operations    employed at Synthes in Brussels where he worked his
systems. His team was a finalist for the Franz Edelman   way up to become International Sales & Marketing
Award, the best practice competition in Management       Manager in 1992. Since 1996, he has also been
Sciences and Operations Management. He developed         involved in consulting activities, drawing on his
in co-opeartion with university researchers and Dana     expertise in the fields of Strategic Management and
Corporation engineers, a new tool to estimate lead       Balanced Scorecards.
times. This tool can be used in conjunction with
existing enterprise resources planning systems. The      DR. STEFAN STREMERSCH
methodology used by Marc Lambrecht can best be
described by the term “Factory Physics”.                 Stefan Stremersch (PhD Tilburg University, The
                                                         Netherlands) is currently Assistant Professor of
PROF. DR. BENOÎT LELEUX                                  Marketing and Research Fellow at Erasmus University
                                                         Rotterdam (The Netherlands). He was also a visiting
Benoît Leleux is the Stephan Schmidheiny Professor of    scholar at USC and UCLA, both in the US. He
Entrepreneurship and Finance at IMD. He was              specialises in new product growth and marketing of
previously Visiting Professor of Entrepreneurship and    high-tech products. He has published in leading
Director of the 3i VentureLab at INSEAD and              international academic journals such as Journal of
Associate Professor and Zubillaga Chair in Finance       Marketing and received grants from renowned
and Entrepreneurship at Babson College, Wellesley,       international institutions such as the Marketing Science
MA (USA) from 1993 to 1999. He obtained his Ph.D.        Institute and the European Union. He has consulted
at INSEAD, specialising in Corporate Finance and         with leading technology companies such as 3M,
Venture Capital. He holds an M.Sc. in Agricultural       Alcatel and Dell.
Engineering and an M.A. in Education from the
Université Catholique de Louvain (Belgium), and an       PROF. DR. IR MATHIEU WEGGEMAN
MBA from Virginia Tech. He was a Fellow of the
Sasakawa Young Leaders Programme in Japan and the        Mathieu Weggeman is Hoogleraar Organisatiekunde,
College for Advanced Studies in Management (CIM)         in het bijzonder Innovatiemanagement aan de Faculteit
in Brussels.                                             Management van de Technische Universiteit
                                                         Eindhoven. Daarnaast voert hij een eigen advies-
DR. IR. JAN LEURIDAN                                     praktijk als raadgevend ingenieur.      Hij doceerde
                                                         eveneens bedrijfskunde bij de Management Training
Jan Leuridan joined LMS in 1984 as R&D Manager           Group van Philips en werkte als consultant voor de
and is today Executive Vice-President & Chief            raad van bestuur van Philips. Voor zijn bijdragen aan
Technical Officer. He graduated from K.U.Leuven,         de vakliteratuur ontving hij in 2001 van de Orde van
Department of Mechanical Engineering and from the        Organisatiekundigen en -Adviseurs de oeuvreprijs.
University of Cincinnati, Department of Mechanical &
Industrial Engineering. Dr. Leuridan is a member of
ORGANISED BY
                                                             ORGANISED WITHIN THE FRAMEWORK OF
                                                             Vlaams Innovatienetwerk




K.U.Leuven                                                                        R&D Division
Research & Development                                                            INCENTIM
GENERAL INFORMATION AND PRACTICAL DETAILS

STRUCTURE AND DATES
                                                               PARTICIPATION FEE
The complete programme consists of 8 modules.
Each module is scheduled from 4 - 7 pm.                        For the entire programme:
                                                                    For Leuven.Inc Members (Company or Associate
Module I:    Growing pains of a high-tech venture                   Company Members):
             Tuesday November 26th, 2002                            1360 EUR per person.
Module II: Strategy development for high-tech                       For non-members:
             ventures                                               1640 EUR per person.
             Tuesday December 10th, 2002                       The fee includes coffee, snacks, documentation.
Module III: Financing growth & creating
             shareholder value                                 For more information on Leuven.Inc membership, please
             Tuesday January 14th, 2003                        visit www.leuveninc.com or e-mail: info@leuveninc.com
Module IV: Market development in an
             international environment                         Fee per module if taken separately:
             Tuesday January 28th, 2003                             For Leuven.Inc Members (Company or Associate
Module V: R&D in an international environment                       Company Members):
             Tuesday February 11th, 2003                            195 EUR per person.
Module VI: Operations Management                                    For non-members:
             Tuesday February 25th, 2003                            230 EUR per person.
Module VII: Keeping an eye on performance                      All prices exclusive of 21% VAT.
             Tuesday March 11th, 2003
Module VIII: Kennis, kenniswerkers en
             kennismanagement                                  REGISTRATION, PAYMENT AND
             Dinsdag 25 maart, 2003
                                                               CANCELLATION POLICY

                                                               Please register at least 14 days before the start of the
                                                               programme. Registration per module is possible.
LOCATION
                                                               To register, please complete the registration form and
The location for all modules is                                return it to Nicole De Smyter at Leuven.Inc,
                                                               Bedrijvencentrum, Interleuvenlaan 62, B-3001 Leuven or
                                                               by fax + 32 -16-40 81 47.
                                                               An invoice will be sent to you.

LMS International (Headquarters)                               All invoices are due within 14 days. An administration fee
Interleuvenlaan 68                                             of 15% of the participation fee will be charged for written
B-3001 Leuven                                                  cancellations received more than 10 days before the start
                                                               of a module. Cancellations less than 10 days before the
Detailed information on how to reach the location will be      start will be invoiced at 25% of the registration fee.
sent upon registration.                                        If after subscription you are unable to attend a module, a
                                                               colleague can take your place.

LANGUAGE                                                       MORE INFORMATION

                                                               For further information, please contact
English will be used as the main language in this programme,
except for Module VIII (Dutch).                                Nicole De Smyter, Leuven.Inc
                                                               e-mail: info@leuveninc.com
                                                               tel: + 32-16-40 11 90
                                                               fax: + 32-16-40 81 47
                                                               Bedrijvencentrum, Interleuvenlaan 62, B-3001 Leuven



   REGISTRATION FORM
Please complete this form and return it before to:

Leuven.Inc, Attn: Nicole De Smyter
Bedrijvencentrum - Interleuvenlaan 62, B-3001 Leuven
Fax: + 32-16-40 81 47
If you register for the entire programme, please return this document before November 12, 2002.
If you register for a specific module, please return this document 14 days before the start of the module.

Feel free to copy this document if more people from your company wish to register.

Please indicate your choice

   I want to register for the entire programme (Modules I, II, III, IV, V, VI, VII and VIII)

                  My company is a Leuven.Inc Company or Associate Company Member

                  My company is not a Leuven.Inc Member

   I want to participate in the following modules (check the approriate box):

                 Module I                                   Module II                                  Module III                                 Module IV

                 Module V                                   Module VI                                  Module VII                                 Module VIII


First name ........................................................................ Surname.................................................................................
Position ............................................................................................................................................................................
E-mail ..............................................................................................................................................................................
Company..........................................................................................................................................................................
Company address ............................................................................................................................................................
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Number of personnel ....................................................... Sector.....................................................................................

VAT - number .................................................................................................................................................................

The invoice should be addressed to (address and contact person):

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