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Business Incubator. 17 September, 2014 Olli Mankonen. Incubation history in Turku. started 1989 1989-2000 ”one man show”: shortage of human resources heavy recession 1990-1994 economical growth 1995-2000 venture capital available 1995-

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business incubator

Business Incubator

17 September, 2014

Olli Mankonen

incubation history in turku
Incubation history in Turku
  • started 1989
  • 1989-2000 ”one man show”:
    • shortage of human resources
    • heavy recession 1990-1994
    • economical growth 1995-2000
    • venture capital available 1995-
  • 2000-2001 organization development (4 experts in business development):
    • development of our services (=more added value)
    • TULI
  • 2002- one incubation program, two units:
    • Biotech Incubator and DIO Business Centre
    • LIKSA
incubation team
Incubation team

Olli Mankonen

Department Manager

Juha Achrén

Business Development

ICT

Tapio Hurme

Business Development

Biotech

Johanna Reiman

Project Manager

TULI-program

slide4
Incubation process

Exit

1-3 years

Incubation period

CONSULTING, EDUCATION, LIKSA etc.

Selection and finance decisions

Finance negotiations

Evaluation

Business planning

TULI, LIKSA

incubation process
Incubation process
  • expert services and education for business development
  • office and lab space
  • office services (telephonist, copying etc.)
  • networking: connections to financiers, universities, consultants etc.
  • financial support
  • TULI-finance (”from research to business”)
  • LIKSA-finance (for business planning)
expert services and education
Expert services and education
  • Business plan development and evaluation
    • Advising, sparring
  • Counselling by incubation team
    • During incubation period
    • Strategy, marketing, finance
    • Our input depends on the need
    • Informal process
  • Other consultants
    • services are often subsidised
  • Education
    • Short entrepreneurship course (50 h + 1 consultancy day)
    • Sales
    • Business plan competition
    • Short seminars
networking to other development programs
Networking to other development programs
  • Source Code Finland
    • Not successful
  • GAP
  • Global Software
    • Espoo, Oulu, Tampere, Jyväskylä
    • Next year also Turku
  • Hermia Business Development Ltd: “Partnership program”
  • Education: universities, TE-keskus, Finnvera
  • Technology programs (Tekes)
  • LIKSA
  • TULI
results
Results
  • 136 start ups
  • Survival rate over 85 %
  • About 750 jobs
  • About 25 companies have received finance from VC-investors or business angels
  • Growth rate has not been satisfactory
start up examples
Start-up examples
  • Eweline Finland Ltd. (Ellibs.com)
    • First contact November 2001
      • Business plan was not acceptable
      • Strategy was not clear, several product ideas without clear focus, unrealistic goals
    • Several meetings during 2002
      • Strategy development, product definition etc.
    • Finance negotiations
      • No venture capital, but some partners have financed
    • Accepted to incubator on February 2003
    • Started in incubator on March 2003
      • e-Book lending system, online bookstore for e-books
    • GAP-program
    • 200 libraries in Finland has the lending system
    • England, Sweden, Denmark
    • Investors are interested, but no agreements
    • 5 employees
    • Growth potential is obvious
start up examples1
Start-up examples
  • 4Pharma Ltd
    • Data management, data warehousing, statistics, information technology and scientific writing for pharmaceutical industry
    • First contact July 2001
      • Based on university unit CRST (Clinical Research Service Turku)
    • “Nothing happened”
    • First business plan (”quick and dirty version”) on March 2002
    • Acceptable business plan in the end of March 2002
    • Accepted and started in incubator on April 2002
      • No venture capital, small loan, positive cash flow
    • LIKSA-finance on May 2002
      • Better business plan
    • Investor meeting (Eqvitec) organized by incubator on October 2002
      • Finance negotiation started
    • Exit from incubator premises on January 2003, counselling continues
    • Venture capital investment on June 2003
    • 15 people
    • Profitable and growing company
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