Introduction lecture for workshop "FUNDAMENTALS OF NANOTECHNOLOGY AND ITS APPLICATIONS (FONA)" at University of Twente, MESA+ institute

1. Technology Venturing:
The triangulation of value creation
Ing. Matthijs H.M. Hammer M.Sc.
Senior lecturer Innovative Entrepreneurship
School of Business Creation & Entrepreneurship
PhD Researcher
Faculty of Product Innovation Management
Workshop FONA, 25 - 27 January 2016

2. Introduction
Background
Chemical Environmental Laboratory sciences, Quality Management
Experience
Consulting company, Research centre of coating & surface technology
Saxion, university of applied sciences, Senior lecturer Innovative
Entrepreneurship, School of business, building & technology
Delft university of technology, PhD Researcher, Industrial Design
Engineering, Product Innovation Management
Venturelab Twente, venture coach
European Council for Small Business and entrepreneurship, Country vice
president for The Netherlands

3. Menu
• Introduction
• Innovation processes
• Triangulation of value creation
• Technology venturing
• How to do it
• Summary

4. Models of innovation

5. Product innovation
(Roozenburg and Eekels, 1995)

6. Product innovation
Main design principle is to interact:
• Internal: within the company (departments)
• External: with stakeholders outside the company (users, market)
Strategic situation
of the company
Internal analysis External analysis
Generating search
ideas
(Roozenburg and Eekels, 1995)

7. Product innovation
Five design-steps for a product life cycle:
1. Product Use
2. Strategy Formulation
3. Design Brief Formulation,
4. Development,
5. Market Introduction.
(Roozenburg and Eekels, 1995)

8. Delft Innovation Model
(Buijs and Valkenburg, 2005, 3rd ed.)

9. Delft Innovation Model
Fuzzy Front End of innovation
New Product Development
Muddy Back End
Product Use
(Buijs and Valkenburg, 2005, 3rd ed.)

10. Researchers
Company
Stakeholders
Triple Helix co-operation
3 Anchors of co-operation

11. Triangulation of value creation
R&D
department
Marketing / Sales
department
? • In business, R&D and Marketing/Sales is
standard
• What about relation (potential values)
between Technology and Society?
• Who is in charge?

12. Innovation hero
Joseph Alois Schumpeter (1883 – 1950)
• "creative destruction" in economics
• Business Cycles; Without innovation no new wave:
hero is the entrepreneur
Business cycles, 1939
“Creative destruction”

13. Activity
IDIVIDUAL ASSIGNMENT
DO NOT COOPERATE
• Take a blank sheet of paper.
• Take a pencil.
• Draw an entrepreneur.

14. Results
>99% human being
Where from: >80% Man
Where from: >80% Suite
Where from: >80% Tie
Where from: >80% Smiling / success

15. Examples

16. Business Venturing Model
Market information
Sales
Market is dominant

17. Technology Venturing Model
Market information
Sales
TensionTechnology is dominant

18. Entrepreneurial process
VALUE
CREATION
Opportunity
recognition
Opportunity
preparation
Opportunity
exploitation
Value creation process (Shane & Venkataraman, 2000)

19. Example
See possibilities Tackle opportunities
Know where to find it. Successful application
test

20. Entrepreneurial dynamics

21. Risk, Return and Resources
Affordable Loss.
Calculate downside potential and risk no more than you can afford
to lose.
Expected Return.
Calculate upside
Potential and pursue the
(risk adjusted) best
opportunity.

22. Risk, Return and Resources
Alternative Own capital Loan bank investment Expected
return
1 40 0 35 50
Example
2 40 10 50 75
Alternative 2
Alternative 1

23. Partnership. Build your “future” together with
customers, suppliers and even prospective
competitors.
Attitude toward others
Competition. Set up transactional
relationships with customers and
suppliers.

24. Surprise
• Avoid Surprises.
• Leverage Surprises.
Surprises can present new opportunities.

25. Business model canvas
(Osterwalder, 2004)

26. Important issues
Issues to considerate before venturing technology:
• Intellectual Property (IP)
• Starting Capital
• Launching Customer
• Venture team
• Competition clause

27. Summary
Take a way's:
1. (Nano-) Technology Venturing is more complex than selling a product to the
market.
2. Venturing technology is strongly related to innovation.
3. The innovation hero is called an entrepreneur.
4. Dynamics of entrepreneurship deferens from process managing dynamics.
5. Technology Venturing is part of hard business reality: IP, Venture team and Venture
Capital are forgotten to easy.
Thank you for your attention!