VentureWell’s Post

Here are some sensible and practically useful heuristics to increase success rate in building a new venture. Rule 1: The team is more important than the idea Rule 2: Hire slow, fire fast Rule 3: It costs more and takes longer Rule 4: A unique business idea is not required Rule 5: Better share than stealth Rule 6: Focus, focus, focus (on time to market) Rule 7: Customers do not tell you—you need to analyze their needs Rule 8: No dead equity Rule 9: Modesty comes later Rule 10: Credibility via advisory board Most of the rules apply to all start-ups, not just ones that have a strong foundation in some kind of research… #newventurebuilding #startups

🌟 After our in-depth-interview with Mari Suoranta on research on the Impact of Incubators in Startups and Student Entrepreneurship 🌟 Hello IE community! 👋 A captivating study is underway, investigating the impact between incubators and student-led startups within the entrepreneurial landscape. The research, delving into how incubators and accelerators affiliated with universities support early-stage startups, is actively collecting data across Finland, Sweden, the UK, and Spain. As a part of this comprehensive research endeavor interviews are being conducted to gain insights from entrepreneurs who have participated in IE Venture Lab activities. For those that don’t know, these activities encompass coaching, competitions, and events, offering real-world exposure and experience to different ventures. If you're an IE student or alum with an existing business and have been part of IE Venture Lab activities, your unique journey and learnings are incredibly valuable to their research. Your insights can significantly influence and steer the future of startup support initiatives. Feel free to reach out to Mari Suoranta on LinkedIn and contribute to this insightful research being part of a larger movement aimed at nurturing and advancing the startup ecosystem. Together, let's drive innovation and elevate student entrepreneurship. 🚀 IE University #IECommunity #StartupResearch #IncubatorsImpact #IEVentureLab #EntrepreneurialInsights #StudentEntrepreneurship #StartupSupport

My inductive study with Hong Jiang is now in print.  “Functional Knowledge versus Strategic Knowledge: What Type of Knowledge Matters Most for the Long-Term Performance of Startups?” is published open access at Cambridge University Press.  http://jpm.li/359  What I found methodologically exciting about the study is that we initially developed our theoretical ideas from four case studies of two poorly and two highly performing firms. We then made the prediction that two firms that failed completely should have lacked strategic knowledge. It was very difficult to find two of these complete failures because their death had happened long ago. But like a good detective,  Hong Jiang located the founders. Interviews with them our confirmed our emerging theoretical ideas that in the long-term strategic knowledge is key for startups. #startups #Knowledge

We'd like to celebrate a great panel last week with guest speakers and McCormick School of Engineering alumni Carolina Fong Guzzy, Eric Horler, and Vysak Venkateswaran! Moderated by Farley Center Director Hayes Ferguson, the discussion covered how the speakers approached building and launching successful businesses. The speakers considered their most significant challenges and successes, citing the importance of taking risks and experimental learning to drive innovation in startups. We'd like to thank our wonderful panel of speakers, our moderator, and all students and alumni in attendance! #northwesternuniversity #entrepreneurshipeducation #alumni #startups #innovation

Slowly writing this book on how information patterns impact start-up ecosystems. Here's the latest chapter on the Methodology I used for my research! https://lnkd.in/exdc9be8 #startups #business #research #urbanplanning #informationarchitecture

“There is a shift towards a more mature innovation ecosystem. Previously, we had tech startups that were pure venture cases that needed to scale quickly on the one hand. On the other hand, we had deep tech with a very long road to market. But the two opposites are starting to meet,” says Jes Broeng, serial high-tech entrepreneur, director of DTU Entrepreneurship and Programme Director of Open Entrepreneurship. Several initiatives such as Open Entrepreneurship DK and Spin-outs Denmark help the development accelerate. Both act as a link between universities and the business community so that inventions can be turned into businesses to a greater extent. Read the article from TechSavvy Media in full below 👇 https://lnkd.in/dRfYTxVw TechBBQ #innovation #technology #entrepreneurship #deeptech

The Acceleration Zone program provides young entrepreneurs from Gdańsk and the surrounding area with specialized knowledge, experience and tools necessary to develop their innovative business ideas. The acceleration program at the Gdańsk Science and Technology Park supports startups at every stage of their development, from prototyping to first successes on the market. The Gdańsk Science and Technology Park provides intensive mentoring, training, and opportunities to establish contacts with potential investors. and customers. The Gdańsk Science and Technology Park gives access to infrastructure and technological tools. Startups are required to have an idea that fits into the thematic issues of the program. Regardless of the stage of development of the enterprise or whether the activity is formalized or not.

🚀 Starting as an idea inspired by MIT, the LIAA Technology Business Centre (TBC) embarked on its journey with the EEA and Norway Grants to become the most efficient platform for validating business ideas for early-stage startups. TBC has been a great success and has become a catalyst for change, blending the best of public institutions, academia, and industry to drive sustainable and groundbreaking innovation. Now, the center has evolved into being a resounding resource and success, creating more sustainable and successful companies and assisting young entrepreneurs. As a result of this success, the center will, after the conclusion of this funding period, be transformed into the Riga Technology Incubation Center. Still being part of LIAA, the center will be located at the Rīgas Tehniskā universitāte (Riga Technical University), becoming a permanent fixture in Latvia's innovation ecosystem. 🌐 EEA and Norway Grants by Innovation Norway #innovation #startup #businessdevelopment

A best in class and a lesson to learn...

Here are some sensible and practically useful heuristics to increase success rate in building a new venture. Rule 1: The team is more important than the idea Rule 2: Hire slow, fire fast Rule 3: It costs more and takes longer Rule 4: A unique business idea is not required Rule 5: Better share than stealth Rule 6: Focus, focus, focus (on time to market) Rule 7: Customers do not tell you—you need to analyze their needs Rule 8: No dead equity Rule 9: Modesty comes later Rule 10: Credibility via advisory board Most of the rules apply to all start-ups, not just ones that have a strong foundation in some kind of research… #newventurebuilding #startups #ResearchStash #PLOS #Team #Hiring #Business #Equity