TecMinho June 2007

What is entrepreneurship ? Entrepreneurship is not only starting a company: “Entrepreneurship is an attitude or approach to management or life that starts with opportunity; it is a framework with which to look at the world regardless of what you do in the world.” (Carsrud, 2005) Entrepreneurship is about seeing opportunities and bringing about change.

Entrepreneurship shapes our society There is tremendous interest in entrepreneurship around the world According to a recent GEM study, about 300 million people or 12.5% of the adults in the 40 countries surveyed, are involved in forming new businesses Entrepreneurship comes in many shapes and forms in addition to starting your own company Entrepreneurship

Academic entrepreneurship: Three levels Training and supporting entrepreneurship - starting new businesses  spin-offs Entrepreneurship - a subject itself The entrepreneurial university - creation and maintenance of an enterprising culture Academic entrepreneurship

Entrepreneurship at UMinho Academic entrepreneurship at UMinho: Three areas Awareness raising Networking Spin-off support

Entrepreneurship at UMinho Awareness raising Presentations delivered at different university courses Conferences on entrepreneurship Entrepreneurship Fair Invention competition “InventUminho”

Entrepreneurship at UMinho Networking Establish a network of already existing entrepreneurs Get to know the market Get to know potential investors Networking of spin-offs Bring together entrepreneurs, and entrepreneurs and investors

Entrepreneurship at UMinho Spin-off support Identification of ideas Training the entrepreneur Identification of needs Supporting the venture (company creation)

Research Proof of principle Feasibility Proof of concept Market & Technology Preparation Market & Product Venture Production & Business Development University University/Project Project/Company Company Scouting Screening Support Participation and/or continued support Go on / No go License /Spin-off Spin-off Programme

Entrepreneurs must have a link to the University of Minho: teaching staff; researchers; under-graduation and post-graduation; students; recent graduates; technical personnel.

Spin-off purpose: High-tech and/or knowledge-based products or services obtained as a result of research developed at the University. Spin-off Programme

“Graduate spin-offs”: created by students or alumni of the UMinho who wish to keep a link with the university. “University spin-offs”: technology-based entrepreneurial projects that use know-how developed at the university. UMinho, through TecMinho, can own part of the shares of the future company. There is a know-how license agreement that assigns exclusivity to the spin-off in a given domain. Spin-off Programme Type of spin-off

“Campus company” phase: pre-incubation 1-3 years. Ideation (technology and market). Labs use, equipments, proof of concept mechanisms. “Spin-out” phase: incubation: 1-3 years. Technology development and industrialisation. Formal establishment of the company. Support available from UMinho may be continued. Spin-off Programme Spin-off phases

“Start-up” phase. Company should have got all necessary means regarding self-sustainability. It can keep privileged relations with UMinho. Spin-off Programme Spin-off phases

UMinho’s spin-off advantages University of Minho: −Scientific mentoring −Preferential access to technologies −Access to space, labs and equipment −Label “Spin-off of the University of Minho” TecMinho: −National / international networking −Intellectual property support −Technology brokerage −Contacts for financing −Training courses (e.g. management, marketing) −Business management support

List of spin-offs at UMinho Spin-offFieldCreation BIOTEMPOBiotechnologyMay 2005 SIMBIENTEEnvironmentMay 2005 ULTRAVISIOGRAPHMedical devicesJune 2005 CPCBiotechnologySeptember 2005 UBISIGNICTSeptember 2005 VINALIABiotechnologyNovember 2005 BYZYMOBiotechnologyFebruary 2006 EDIT VALUEBusiness ManagementMarch 2006 WIDECOLOURPhysicsMarch 2006 PMINNOVATIONBusiness ManagementMay 2006 TECNOWAVECivil EngineeringMay 2006 MICROPOLISPolymer EngineeringNovember 2006 SOMATICAPhysicsDecember 2006 SINERGEOGeologyJanuary 2007 GEOSGeologyMarch 2007

Academic entrepreneurship The dual approach Quantity vs. Quality Should the University support all ideas from potential entrepreneurs? Should the University focus on the ideas with more potential for high growth?

Focus on quantity: support all ideas Academic entrepreneurship The dual approach Focus on quality: mechanisms for identification of high potential ideas for customised support IDEA COMPANY

Academic entrepreneurship Success factors in entrepreneurship support Use people that really understand the entrepreneurial processes Create reward mechanisms Drive and engagement Satisfy real needs A strategic focus An anchored position Collaborative mindset Credibility and openness Long term commitment