14/09/2015, 1 Business Incubator 14 September, 2015 Olli Mankonen

14/09/2015, 2 Incubation history in Turku started ”one man show”: shortage of human resources heavy recession economical growth venture capital available organization development (4 experts in business development): development of our services (=more added value) TULI one incubation program, two units: Biotech Incubator and DIO Business Centre LIKSA

14/09/2015, 3 Incubation team Olli Mankonen Department Manager Tapio Hurme Business Development Biotech Juha Achrén Business Development ICT Johanna Reiman Project Manager TULI-program

14/09/2015, 4 Business planning Evaluation Finance negotiations Selection and finance decisions Incubation period TULI, LIKSA CONSULTING, EDUCATION, LIKSA etc. Exit Incubation process 1-3 years

14/09/2015, 5 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)

14/09/2015, 6 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

14/09/2015, 7 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

14/09/2015, 8 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 employees > <5 Bio ICT42337 Others1735

14/09/2015, 9 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

14/09/2015, 10 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 people Profitable and growing company