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Ecosystem approach to start and grow innovative technology companies Tony Bailetti, Ph.D. Carleton University Bailetti@sce.carleton.ca Vitesse OTI August 6, 2008
Motivation Serial technical entrepreneurs are regional treasures, how to best enable them and benefit Ottawa? • More serial technical entrepreneurs • Innovation is key to making money • Innovation is distributed globally • Harnessing innovation distributed globally requires cash, talent, partnerships and approaches/tools that scale • Barriers to entry are lower • ICT has made world flat • Successful companies use “ecosystem approach” to grow
Couple serial entrepreneurs with ecosystems and establish keystones in Ottawa Benefit Opportunity act to make market act to align with existing market Clarity Time Acting earlier results in more value created globally and appropriated locally
Next steps • TFN to organize meeting with serial entrepreneurs and ecosystem builders • Set economic goals • Establish keystone of keystones in Ottawa • Establish as many keystone organizations in Ottawa as it makes sense • Ensure tight coupling between serial entrepreneurs and global ecosystems
Complex networks Example Large Competitor Components + prototype environment 1. Sandbox Substitutes 2. Entrepreneurial $ + people lead project Customers 3. Commercial Services Business plan expert Company 4. Knowledge & Dissemination Early Customers Research Whole product 5. Business Development Orchestrator x x x x x Keystone Members x x x x x Coral CEA Ecosystem
Example of groups in an ecosystem Inputs Competitors Substitutes Inputs Outputs Company Suppliers Complementor 1 Intermediary stage 1 Inputs Complementor 2 Intermediary stage 2 Leader Influences + Customers
Main benefits of entrepreneur-ecosystem coupling • Aligns entrepreneur’s energy with resources from large number of diverse companies, organizations, and individuals all over the world • Combines entrepreneur’s contributions with those of others to create significant value for customers • Increases likelihood service providers and suppliers will share risks with entrepreneur in return for long term relationships • Increases entrepreneur’s legitimacy and options to grow market • Increases likelihood of selling to governments • Decreases investment to enter new markets, adopt and advance technology as well as raise capital • Reduces cost of recruiting excellent teams • Fosters collaboration with other serial entrepreneurs • Provides gateways to relationships in other ecosystems
Ecosystem approach requires technical entrepreneur to: • Use community’s shared vision and then contribute to it • Launch market offers using ecosystem’s foundation platform • Compete for leadership positions in space, niche and governance • Draw on talent around the world • Develop capability to collaborate • Incorporate ecosystem realities into: • Managing product interdependencies • Accelerating adoption of company’s products • Raising funds • Working with talented teams distributed worldwide • Creating and appropriating value • Open development and commercialization processes to customers
What is it? Advances foundation platform which anchors economic community Combined base of: technologies, architectures, designs and assets used to build market offers; components, products and services; contracts; and processes Strengthens ecosystem health Enables value co-creation with customers Benefits? Increases awareness of global environment Reduces cost and time of coordinating innovation and collective action globally Supports all stages of growth, not just the start Increases trust among entrepreneurs' company, complementors, intermediaries, suppliers and leaders Keystone organization