javier hernandez - hazitek - incide - stanford - feb 1 2010
TRANSCRIPT
Hazitek: Accelerator for Growth Aurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010- Javier Hernández de Miguel – [email protected]
Javier HernándezINCIDE, S.A.
Stanford School of EngineeringEuropean Entrepreneurship and Innovation Series
February 1st 2010
PresentationAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
- Electrical Engineering at University of
Navarre (Spain)
- Ph.D. in Electrical Engineering from the
University of Navarre (Spain)
- Executive MBA at IESE Business
School (Spain)
donewtech solutions
Startups co-founded:
Individuals
Failures of Today’s Basque EcosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Public, Semipublic and Private Investment Process
100kEur 1MEur 5MEur
Project
And more…
And more…
Companies
And more…
individuales
Failures of Today’s Basque Ecosystem
100kEur 1MEur 5MEur
Proyecto
Y más...
Y más...Y más...
Empresas
Aurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Public, Semipublic and Private Investment Process
Analysis of Today’s Ecosystem
RolandBerger Strategy Consultants and IESE Business School developed a
study on “How Europe can successfully stimulate knowledge-intensive start-
ups learning from world-class European ecosystems” :
FOR ENTREPRENEURS, BY ENTREPRENEURS(6 insights)
Aurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Analysis of Today’s EcosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Insight 1: Start-up success depends on business knowledge and personal
competencies.
Technical knowledge:
Networking, people knowledge:
“Contacting and Contracting Clients is the
most important hurdle in setting up a company”
“Acquiring resources (raising sufficient funding) is key”
Market
consultantVenture
Consultant
hazitekcapitalhazitekmarket
Analysis of Today’s EcosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Insight 2: Ecosystems allow entrepreneurs to better and more quickly
develop their initial ideas into viable businesses
Iterative Process requiring fast and quality feedback
“30% changed target customer/market”
“40% changed product specs”
“15% changed the position in the value chain”
Advisory Board Manager/s
hazitekestrategy
Analysis of Today’s EcosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Insight 3: Corporations can provide vital business know-how and
experience to start-ups but can also significantly benefit from the product,
service and process ideas
Exchange programs between corporations and start-ups are key
Collaborative programs between local
companies, funding up to 50% of the
R&D investment in new products
development
(public company managing industrial policies)
Analysis of Today’s EcosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Insight 4: Start-ups can make an essential contribution by sharing their
experiences in their ecosystems
Ecosystems create entrepreneurs by inspiring and motivating entrepreneurs
Mentors
hazitekestrategy(members acting as mentors for other members)
Professionalization Process
Basically...
Encourage the migration
from know-how to know-who
Aurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Support for high-growth companiesAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Company to
be accelerated
Venture
Consultant
Manager/s
Advisory Board
MentorsMarket
consultant
hazitekestrategy
hazitekmarket
hazitekcapital
Support for high-growth companiesAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Venture
Consultant
Manager/s
Advisory Board
MentorsMarket
consultant
Company to
be accelerated
Loan Guarantee Association
Financial Institutions
Basque Gvmnt
Financing approaches:
- Co-funding (equity)
-Secured loans (support for hiring
professionals)
INCIDE, S.A. – Partner for your ASICAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Prototyping & test capabilities in house
Engineering Services
IP Development and supply
Design consultancy
Specific technical engineering
Custom integrated circuits
Development of mixed-signal ICs
Production management in fabless model
Wafer manufacturing & packaging
& series test outsourced
Business Case: INCIDE, S.A.
Founded in 2000
18 designers
VC backed from 2008
Service to product migration strategy
Historical key accounts: Infineon, Hitachi, Siemens,…
INCIDE, S.A. – Partner for your ASICAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Wide expertise on full custom RFID design for special applications
Example: RFID tag for livestock identification
Building INCIDE’s ecosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2009 - Javier Hernández de Miguel – [email protected]
Market
consultant
Insight 1: Start-up success depends on business knowledge and
personal competencies
- Tech knowledge: Previous expertise at Fraunhofer Institut (DE)
- First customer: Siemens / Infineon
- Development of an ecosystem of sales partners
Building INCIDE’s ecosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2009 - Javier Hernández de Miguel – [email protected]
Manager/s
Advisory Board
Insight 2: Ecosystems allow entrepreneurs to better and more quickly
develop their initial ideas into viable businesses
- Development of an advisory board based on local experts
and R&D centres
- Reorganization of sales unit based on experienced managers
(new VP of Mktg & Sales hired)
Building INCIDE’s ecosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2009 - Javier Hernández de Miguel – [email protected]
Insight 3: Corporations can provide vital business know-how and
experience to start-up but can also significantly benefit from the product,
service and process ideas
- Collaboration with partners (monthly contacts with a list of
potential customers for INCIDE, who are Innobasque
members)
- Joint development of up to 15 R&D projects in cooperation
with local companies (about 2M$ in 10 years of public
support)
Building INCIDE’s ecosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2009 - Javier Hernández de Miguel – [email protected]
Insight 4: Start-ups can make an essential contribution by sharing their
experiences in their ecosystems
- Participation in different networks for entrepreneurship (mentoring)
- Analysis and/or creation of other startups: analysis of 2-3 business
plans/month for new startups
- Collaboration with Innobasque for running projects/programs:
participation in two different groups of analysis
Building INCIDE’s ecosystemAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2009 - Javier Hernández de Miguel – [email protected]
Venture
Consultant
Insight 1: Securing investment is key
- First round based on friends, family and…mainly fools… (< 1M$)
- Hiring a venture consultant to prepare a new round of about 3M$
- Evaluation, six months later, between two offerings:
- Best valuation by “financial ROI focused” funds
- Lower valuation by “social ROI focused” funds
- Contract negotiation during 4 months
- Deal closing
Results achievedAurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2010 - Javier Hernández de Miguel – [email protected]
Result: How accelerator structure helped INCIDE to grow
- New round of 3M$
- New advisory board formed
- New VP of Mktg & Sales hired
- Additional sales channel with 3 new reps in Europe
- Additional business model discussed in collaboration
with ecosystem (mentors)
- New ASIC products developed (co-funded by SPRI)
Thanks !Aurkezpen honen informazioa isilpekoa da eta indarrean dagoen legediak babesten du. La información de esta presentación es confidencial y está protegida por la legislación vigente. This presentation
contains confidential information protected by law © 2009 - Javier Hernández de Miguel – [email protected]
INCIDE, S.A.
Zuatzu Business Park – Urgull Building
20018 Donostia (Spain)
www.incide-semi.com