Transcript
Dr. Eythor Ivar Jonsson Founder of Accelerate Business Visiting Professor at Copenhagen Business School/University of Iceland E-mail:
[email protected]
3 stories Accelerators Mentorship A-Board
Learning Next steps for research
Limited research New phenomena in entrepreneurship Very popular amongst practitioners Investors Entrepreneurs
There is need for effective models in
entrepreneurship
Short term Process which filters
startups and uses mentors to help entrepreneurs to create and demonstrate value and present a business case to investors and other stakeholders.
Investor Day
number of weeks
Funnel
Direction
Execute
Pitch
2008 – Viðskiptasmiðjan/ Accelerator 2-3 times a year x 3 months programs
15 – 20 companies for program (start-ups)
Total: +150 companies
2009 RU Entrepreneur Bootcamp Once a year x 3 weeks
300 students = 70 companies (seeds) Total: 1500 students = 350 companies (seeds)
2011 Startup Reykjavik
Once a year x 10 weeks 10 companies (start-ups) Total: 30 companies (start-ups)
2013 Startup Geothermal Reykjavik Once a year x 10 weeks
7 companies (start-ups)
2013 MBA CBS Accelerator
Once a year x (1+1+1) weeks 13 companies (seeds + start-ups)
Action/Problem based learning Learning by doing is very important Sense of urgency Pushed with collaboration, competition and time restrains Driven by objectives Investment, Customers, BM, Partners, Development Commitment to venture creation Team action and capabilities Open Business Development Exploring with others (mentors) Testing ideas and validating Co-creation with customers
It is the leading approach for helping
entrepreneurs to build and grow their companies
Accelerators are based on the idea of
using mentors to help start-ups
The approach of VCs and BAs Incubators, universities, public
institutions etc. are using it to help entrepreneurs
100 mentor/coach programs in
Europe
10 in-depth analysis From different countries in Europe
Goal: Best practice for
mentorship/coaching
Horizon 20/20 – Supporting
mentorship
Mentoring
Consulting
Coaching
Teaching
Mentoring is the sharing of knowledge and
professional experiences with the aim of giving examples to inspire change. The role of the mentor is to share relevant and important lessons learned and experiences to facilitate understanding and provide examples of change.
Coaching is the art and science of self-
directed change. The role of the coach is to help the client to think through problems and solutions with the help of questions to facilitate self-discovery.
Consulting is the art and science of
giving advice based on the experience and knowledge of the consultant with the aim of driving change. The role of the consultant is to help the client to analyze the situation and provide possible solutions based on her expertise.
Teaching is the sharing of objective
body of knowledge with the aim of giving examples, frameworks and theories which help to understand and facilitate change. The role of the teacher is to provide objective knowledge to help the client to understand what has worked in other companies and situations according to research.
Helping by giving examples from experience
Mentoring
Helping by asking the right questions for self-discovery
Coaching
Consulting
Helping by Teaching explaining rules and models which come from research
Helping by analysing and suggesting solutions
Done it before: - Serial entrepreneurs - Gray hair - CEOs
Mentoring Good at asking questions and motivating: - Coaches - Trainers - Psychologists
Coaching
Consulting
Good at researching Teaching and teaching: - Professors - Teachers
Good at analysing and coming with suggestions: - Consultants - Analysts
1. Case
2. Result
Induction 3. Rule 1. Case /Self
2. Result
Mentoring
3. Rule
Consulting
Coaching
Self-duction
Abduction
1. Rule
2. Case
3. Result
Teaching Deduction
1. Result 3. Case
2. Rule
Relevance and Rigour The right tool/people for the job
Improve and clarify the different approaches Mentors – better examples and the learning of the
examples Coaches – better questions and push for action Consultants – better analysis and solutions Teachers – more relevant models and theories Next steps for the venture Reason & Rationality Confidence Big Picture
Advisory board program created
for Copenhagen Business School (CBS)
Time: 2006 – 2014 Period: 6 – 8 months
+100 Nordic companies (start-ups,
early growth, growth companies)
Nr. of directors: 3 – 5 400 – 500 directors
Companies need to have a board Many start-ups have advisory boards Role of boards – and effects on performance Boards in terms of value creation Monitoring (controlling) Strategic (directing)
Service (advisory)
Start-up – How to create value Mentoring and advicing
Analysis
Co-Creation
Visioning
Analysis
Understanding the business
Trust and commitment
Key for information sharing and co-creation
Helicopter view
Big picture to thinking big
Possibilities
Open up venture – iterate and pivot
BM co-creation
Focus on value creation
Strategy and vision
Next steps & agenda
Lean Start-up
Effectuation
Action Dynamic Capabilites
Networking
Action research aims to contribute both to the
practical concerns of people in an immediate problematic situation and to the goals of social science (Rapoport, 1970)
It is about developing solution to a practical
problem which is of value to the people with whom they are working while at the same time developing theoretical knowledge of value to a research community (Susman and Evered, 1978; Gustavsen 1993; Levin 1993; McKay and Marshall, 2007)
The required linking of theory and practice is
pursued through different forms of cyclical and iterative processes (e.g. Baburoglu and Ravn, 1992; Chisholm and Elden, 1993; Coglan, 2001)
Nordic Research Center Action Research Accelerate Value Creation Purpose Platform Process
People
Accelerating growth of ventures in
the Nordic countries
Dr. Eythor Ivar Jonsson E-mail:
[email protected]
