SCIENT “A European University-Business Alliance Aiming to Foster Young Scientists’ Entreprenerial Spirit”

SCIENT “A European university-business alliance aiming to foster young SCIentists’ ENTreprenerial spirit”

July 2015

D16: EVALUATION REPORT WITH SURVEY FINDINGS – CYPRUS

This project has been funded with support from the European Commission. This publication [communication] reflects the views only of the author, and the Commission cannot be held responsible for any use which may be made of the information contained therein.

Table of contents

1 Introduction 3

2 Project Context/Introduction to the project 4

3 National Initiatives/projects 6

4 Local Visits: strengths and weaknesses, best practices, existing gaps 12 (include organizational, doctoral training and careers services and venture capitalist information as appropriate)

5 EU visits: strengths and weaknesses, best practices, existing gaps 18 (include organizational, doctoral training and careers services and venture capitalist information as appropriate)

6 Suggestions on modules to be included in the SCIEnt package 35

7 Perceptions of organisations visited about the potential of our SCIEnt package 37

8 Conclusions 38

Annex I: Results from organization visits (local and EU) 39 [excel spreadsheet]

Annex II: Results from doctoral centre and career services visits 101 [excel spreadsheet]

1 Introduction

The purpose of this document is to describe the main findings from the state of the art and needs’ analysis, according to the thorough research by the four Cypriot organisations (GrantXpert, European University, Chrysalis Leap, CYBAN) implemented during March-July 2015.

The 4 Cypriot organisations that are participating in the SCIENT project based their research on existing entrepreneurship and accelerator programmes in Cyprus aiming to identify the existing gaps in terms of the target groups, the problems that the Cypriot organisations are currently facing, their best practices, the format and the structure of their programme, etc. After a rigorous research, we identified eight organisations in Cyprus that were able to participate in our research.

Additionally, as each partner was responsible to visit or contact 2 organisations from 2 other European countries besides the ones participating in our consortium, GrantXpert contacted relevant organisations in Athens-Greece and Denmark, European University Cyprus visited relevant organisations in Italy and Romania, Chrysalis Leap visited Greece and Hungary and CYBAN arranged meetings in the United Kingdom and Bulgaria.

2 Project context/Introduction to the project

SCIENT is an EU-funded project under the Erasmus+ Knowledge Alliances Programme. The ultimate aim of this project is to enhance the entrepreneurship levels of Scientists and Engineers studying for a Doctoral degree (PhD, EngD or similar) in any Science, Technology, Engineering or Mathematics (STEM) discipline across Europe. The aim is to offer a high-quality, pre-accelerator entrepreneurship and business awareness programme. This will assist the participants in developing the necessary entrepreneurship mindset in order to be able to participate in competing accelerator/entrepreneurship programmes.

The first stage of our project was to conduct a literature review at national, European and international level, to identify the existing entrepreneurship landscape for PhD STEM students/graduates and the best practices utilised across different organisations and nations. Thus, existing programmes and best practices in each participating country and in other EU countries that aim to enhance the awareness of PhD STEM students and graduates about their career options were studied. To this end, each partner implemented a survey in its country and brought together the various initiatives carried out at national level and relevant information on the implementing agencies.

Our mission was to gain an in-depth understanding of the subject matter through a comprehensive and large-scale study. To this end, all partners visited entrepreneurship centres, accelerators, science/technological hubs, business schools, incubators and universities in their region and in another two European country, in ordered to analyse the existing programmes, to identify the best practises, their successes and their gaps. Specific emphasis was given on:

. best practices identification . existing gaps . strengths and weaknesses of existing centres/incubators/accelerators

. perceptions of PhD STEM students/graduates about the alternative career option of becoming an entrepreneur . perceptions of universities/research centres/ about the potential of our entrepreneurship package.

More specifically the needs and perceptions of the following four target groups were examined:

A) STEM PhD students and graduates (goal: more than 1000 to participate in our survey) B) Careers’ Services/Graduates Department/Doctoral Departments at Universities C) Company builders: Incubators, Entrepreneurship Centres, Accelerators, Science and Technological hubs, business schools. D) VCs/Business Angels

3 National Initiatives/projects/news

The Cyprus economy is facing its deepest crisis since 1974 with the highest unemployment in over 38 years at 10.9% (with 25% youth unemployment). That is a rather bleak picture, but there is a silver lining: Cyprus does have several advantages and assets that can be proven pivotal in the enhancement and the fostering of entrepreneurship and in the development of an entrepreneurship ecosystem, which in turn could invigorate an economic growth in the next decade.

Cyprus has an excellently educated workforce and Cypriots rank first in EU27 in their dream of being self-employed. However, the gap between their dream and belief in achieving it is wide. An entrepreneurship ecosystem could help close this gap by fostering innovation and start-ups. Entrepreneurship in Cyprus is not new, as 98% of the companies in Cyprus are small to medium enterprises. Efforts to build an appropriate ecosystem are not new either. Since 2000, several incubators, such as Diogenes at the University of Cyprus, have been set up and have assisted a few companies to start up, but have faced several challenges and most ventures have since withered. Our time frame for fostering and reigniting entrepreneurship in Cyprus is the year 2020, which aligns also with the EU2020 agenda.

Several entrepreneurial activities including disruptive innovation tech start-ups, hackathons, meet-ups and a start-up accelerator are sprouting fast in Cyprus. All of these initiatives need support: mentoring, funding and a supportive legal framework together with a strong supportive voice of the industry. With geography no longer being a totally decisive factor, access to customers and markets is largely driven by expertise and innovation and here Cyprus has three additional key strengths: a robust professional services sector, favorable tax legislation and energy resources. A favorable tax break to VCs incentivizing them to invest in Cypriot start-ups focusing on, but not limited to, areas such as mobile technology, ‘cleantech’, solar power, 6

advanced vehicle technologies, smart grids wind energy, green and blue technologies could propel the economy out of the slump and into growth. Even though the Cypriot relevant ecosystem is relatively young, there has been a significant development over the past years. For instance, three years ago, private initiatives have led to the creation of angel investor organisations, accelerators, enterprise-enabling organisations such as ‘Junior Achievement Cyprus’, the ‘Cyprus Association of Research and Innovation Enterprises’ and the ‘Cypriot Enterprise Link’ which, amongst other initiatives, introduced Hack Cyprus – the first series of hackathons and first code schools in Cyprus; and of course university incubators such as Diogenes (University of Cyprus), Entice (CIIM), the Microsoft Innovation Centre (MIC at European University Cyprus) and Helix (University of Nicosia). This innovative environment is enhanced by entrepreneurship events such as the Cyprus Entrepreneurship Competition, StartUp Weekend Cyprus, Hack Cyprus Insights Tech Conference, TEDx Nicosia and so forth.

Furthermore, the Government of Cyprus through the Ministry of Commerce, Industry and Tourism have been launching new schemes that boost and enhance entrepreneurship, e.g.:

a. In 2002 the "Programme for the creation of new enterprises of high technology and innovation through the institution of business incubators" was introduced. This programme aims to enhance the potential for the production of products with high value added in knowledge and know-how and the demand of which is sensitive with regards to their quality and innovation and not their price. b. Funding Scheme for the support of Youth Entrepreneurship: an initiative that aims to develop, support and promote entrepreneurship among young people (from 2039 years) by using their knowledge, training and talents. c. Funding Scheme for the Support of Womens’ Entrepreneurship: an initiative that aims to develop, support and promote entrepreneurship among women aged 18 to 55 years old by using their knowledge, training and talents.

d. Funding Scheme for the Enhancement of Entrepreneurial Innovation: an initiative that aims to support and strengthen existing and new SMEs that invest in research and innovation for the development of competitive and innovative products or services or innovative processes and procedures for the production of their products.

What adds more value to this development is the existence of a strong professional services sector consisting from experienced and educated professionals: law firms, accounting and audit firms, banks as well as different other organisations operating in the telecommunications sector. Recently, as indicated above, government and legislators have become involved in the existing ecosystem to strengthen it through support policies and funding. Additionally, a co-working space has been introduced in Nicosia (‘Capital Impact’) which aims to provide a home to young entrepreneurs. All these activities aim to also help tackle unemployment, especially amongst the youth, to utilise the talents and skills of the workforce in Cyprus and create the needed ‘critical mass’ in order to draw foreign investors and especially venture capital to the island. It is believed that talented and motivated entrepreneurs with great ideas and skills do exist in Cyprus. There are a number of startups, such as ENERMAP, AVOCARROT, Teach & Go, Funifi, DIYFUL, Student Life, AtYourService and so forth, which can provide valuable advice, help and motivation to new entrants, although it must be added that these operations are very new and they are on a learning curve as well. Hence, it is worth stating that there is a long road ahead until Cyprus becomes the next successful ecosystem.

Βelow we briefly present some of the most interesting initiatives within the Republic of Cyprus:

a. CARIE - CYPRUS ASSOCIATION OF RESEARCH AND INNOVATION ENTERPRISES

The Cyprus Association of Business Research and Innovation was established to represent the interests of Cypriot enterprises engaged in scientific and technological research and to develop innovative products and promote actions in order to strengthen these activities and improve

on the competitiveness of its members. The Association was established in December 2010, is connected with the CCCI and currently has 22 members while 10 more companies are in the process of joining the Association. The desire of the Association is to bring together all the Cypriot businesses conducting research in order to develop new innovative products.

b. STARTUP LIVE CYPRUS - STARTUP WEEKEND CYPRUS Startup Weekend is a global grassroots movement of active and empowered entrepreneurs who are learning the basics of founding startups and launching successful ventures. It is the largest community of passionate entrepreneurs. Startup Weekend organizers and facilitators can be found in over 200 cities around the world. People around the globe are coming together for weekend-long workshops to pitch ideas, form teams, and start companies. All Startup Weekend events follow the same basic model: anyone is welcome to pitch their startup idea and receive feedback from their peers.

c. CHRYSALIS LEAP This organisation has the goal to promote and develop entrepreneurship among individuals in Cyprus in the area of sustainable development by providing knowledge, training, and opportunities otherwise unavailable, and building upon ideas from development through to implementation. In essence: they nurture, hold the ladder for others to climb, support, and kick-start ideas.

d. SCIENCE TECHNOLOGY PARK The Government of Cyprus is promoting the creation of the Science Technology Park (STP) in the form of a Knowledge Park for research, innovation and technology purposes, in order to enhance the entrepreneurial and industrial development of Cyprus and its transformation into a regional research and innovation center that will contribute to the differentiation of the economy.

e. Cyprus Business Angels Network (CyBAN) Cyprus Business Angels Network (CyBAN) is the only Angel Investment Network in Cyprus. They connect innovating fast growth companies to equity finance through experienced angel investors.They review up to 100 businesses per year to find the most exciting and cutting edge companies. From this they select up to 20 to pitch to their members through their ‘Company Presentation’ Events and online ‘Company Exhibition’. Their membership of investors represents a cross section of influential business leaders from Cyprus, including successful entrepreneurs and former CEOs, chairmen and non-executives of large private and public companies. The wide and varied nature of the companies expected to present to the network allows investors to leverage not just their financial capital but also their intellectual capital through both executive and non-executive positions.

f. Cyprus Federation of Business and Professional Women (BPW Cyprus) The Cyprus Federation of Business and Professional Women (BPW Cyprus) is a nongovernmental, non-political organization established in 1996. BPW international is one of the most influential international networks of business and professional women with affiliates in 80 countries all over the world. The main aim of the Cyprus Federation of Business and Professional Women (BPW Cyprus), in accordance with the constitution of BPW International is to develop the professional and leadership potential of women at all levels.

g. Entrepreneurship and Innovation Centre of CIIM, ENTICE ENTICE’ s mission is to contribute, through the provision of specialised consulting services, education and mentoring, in the creation of innovative new ventures (start-ups) and in the improvement of the competitiveness of existing innovative enterprises.

h. BANK OF CYPRUS AND CIIM SUPPORTING INNNOVATIVE IDEAS AND BUSINESSES Bank of Cyprus and the Cyprus International Institute of Management (CIIM) have partnered up to bring IDEA- Innovate.Develop.Excel.Accomplish - a Corporate Social

Responsibility initiative. IDEA claims to be the first integrated accelerator/incubator programme in Cyprus, aiming to facilitate the creation of innovative sustainable start-ups with a global outlook, whilst contributing in the further development of the Cypriot entrepreneurship ecosystem. IDEA has on board, as its strategic partners, four distinguished service providers in Cyprus: MTN, Innovation/Leo Burnett, Deloitte Ltd and Lellos P. Demetriades Law Office LLC who will offer pro bono first level consultancy services to the resident teams. Eligible for participation to the Programme are teams of 2 to 5 persons that have a creative and innovative idea, in nearly all economic sectors of the economy, provided they are willing and able to stay in Cyprus for the duration of the Programme that can last up to 12 months. The teams selected will be hosted, free of charge.

i. Helix Business Incubator The Helix Business Incubator is a joint collaboration between the University of Nicosia, the Cyprus Institute of Neurology and Genetics and the Government of Cyprus. The primary mission of the Helix Business Incubator is to foster the development and growth of young companies, by providing inventors and entrepreneurs with the business infrastructure and expertise, and the necessary training, mentoring and business networking to ensure the attainment of their developmental and business goals. Helix’s secondary, yet equally important goal is to help the resident companies tap into local and international talent, which will help them execute business plans and help the local economy grow.

j. Microsoft Innovation Center The newest entrant, in 2015, is the Microsoft Innovation Center. Microsoft Innovation Centers (MIC’s) are state of art technology facilities for collaboration on innovative research, technology or software solutions, involving a combination of government, academic and industry participants. There are now more than 100 Microsoft Innovation Centers worldwide. 11

As knowledge and innovation becomes the primary catalysts for economic growth, the Microsoft Innovation Centers can play a vital role in fostering innovation and grow sustainable local software economies by generating powerful new ideas through training, education and knowledge transfer. This Centre is in collaboration with the European University – Cyprus.

4 Local Visits: strengths and weaknesses, best practices, existing gaps

The set of organisations that agreed to participate in this study is shown below in Table 1.

Diogenes Business Incubator Entrepreneurship and Cypriot Enterprise & Entrepreneurship CAPITAL IMPACT Innovation Centre of Link (CEL) Centre CIIM, ENTICE University of Cyprus Equity Private Private Private Private

Entrepreneurship and Type Co-working space Youth led organisation Incubator Innovation Centre -Networking activities -A platform of memberships - Business Office space, utilities, Consulting services, electricity, Promotion and Development; education and mentoring airconditioning, inspiration of Organizational Entrepreneurship - in the creation of internet, cafe, 24 hours Management; Workshops with innovative new ventures Offerings – entrance, value Marketing; services, training specialists on (start-ups) and in the Activities several themes like Entrepreneurial improvement of the virtual marketing, mindset; Mentoring; Networking; Communication; competitiveness of software existing innovative Open events; soft skills; Internationalisation technical training enterprises. engineering, business plan canvas -Law

Helix Business ENERMAP and CYTA Cocoon Creations Chrysalis Leap Incubator Equity Public Private Private Private

Type Innovation Centre Start-Up Accelerator Incubator

Cyta’s Innovation They are an award Centre and Idea winning boutique Development organizes Training, mentoring digital agency creating and / or supports and business mobile Driven to promote the various initiatives, networking to ensure applications with world spirit of entrepreneurship Offerings – competitions and/or the attainment of their class standards. They in sustainable Activities events of other vendors developmental and also specialize in development in Cyprus. that promote business goals. product Innovation in our development, country branding creation & digital marketing promotion

As can be seen from the tables above, Cyprus has mainly private institutions which aim to develop and strengthen entrepreneurship at a local level. A number of them are connected with Higher Education Institutions (HEI) and the others are incubators, co-working spaces, entrepreneurship centres and youth organisations. Some of them have already developed their own entrepreneurial training programmes and others have ‘formatted’ their space so that new ideas can grow, with the right mentoring and coaching activities.

According to the visits we implemented at local level and through our research on the entrepreneurial ecosystem in Cyprus, we have come up with some conclusions concerning strengths and weaknesses, best practices, and existing gaps.

STRENGTHS

-There are emerging some local business individuals who are now acting as business angels, e.g. Cyprus Business Angels Network (CyBAN) which is the only Angel Investment Network in Cyprus aiming to connect innovative fast growth companies to equity finance through ‘experienced’ angel investors.

-The creation of co-working spaces for young entrepreneurs, like Capital Impact, which are offering office space, utilities, electricity, air-conditioning, internet, value services, training, mentoring and networking events, etc., by paying a very small amount per month.

-Certain especially dedicated NGOs have been created, such as CEL. The Cypriot Enterprise Link (CEL) is a youth-led organization aimed to connect and support the Cypriot entrepreneurial talent in order to form a local and a global entrepreneurial network supported by events, meetups, workshops and projects.

-Local tertiary level institutions and universities are now getting actively involved as well by cultivating the entrepreneurial mindset and culture in its students. For instance the Entrepreneurship Center which was formed by the University of Cyprus aims to introduce its students to the entrepreneurial ecosystem.; the Entrepreneurship and Innovation Centre of CIIM (ENTICE) contributes, through the provision of specialised consulting services, education and mentoring, to the creation of innovative new ventures (start-ups) and to the improvement of competitiveness of existing innovative enterprises; UCLan Cyprus through its Centre for Entrepreneurial Development, Alliance, Research (CEDAR) –claiming to be the first interdisciplinary research centre- is committed to promote entrepreneurship at all levels and across all frontiers.

-Related to the above, Universities are also creating their own incubators, like EUC which in collaboration with Microsoft established an innovation center; IDEA- Innovate.Develop.Excel.Accomplish, a Corporate Social Responsibility initiative established by the Bank of Cyprus and the Cyprus International Institute of Management (CIIM); Helix Business Incubator is a joint collaboration between the University of Nicosia, the Cyprus Institute of Neurology and Genetics and the Government of Cyprus.

-Local accelerators and incubators are being established, like Chrysalis leap, ENTICE and IDEA, aiming to facilitate the creation of innovative sustainable start-ups with a global outlook, whilst contributing in the further development of the Cypriot entrepreneurship ecosystem. This will hopefully build a wave of start-up operations.

-Events are increasingly being organized and this is attracting more attention from participants, trainers, media, mentors, etc. For instance, the organization of events like STARTUP LIVE CYPRUS - STARTUP WEEKEND CYPRUS which is empowered entrepreneurs who are learning the basics of founding startups and launching successful ventures; events organized by the Cypriot Enterprise Link (CEL) which aimed to connect and support the Cypriot entrepreneurial talent in order to form a local and a global entrepreneurial network supported by events, meetups, workshops and projects; Hack Cyprus was created by CEL aiming through networking events and activities to attract and produce world-class technologists; Enterprise Tuesdays by KPMG which aims to provide insights over specifics area of entrepreneurship and explore ways in which the team can add value to the founders and their startups via KPMG’s plethora of services and offerings; ‘Open Coffee Cyprus’, the popular networking platform for the startup business and technology community of Cyprus.

-The community at large is getting more involved; for example mentors from industry and academia are helping prospective entrepreneurs with their ventures. We have noticed that almost all local initiatives related to the subject of entrepreneurship place particular emphasis on coaching, mentoring and networking activities. Clearly this practice has great potential as it can help young people to develop their skills, their competences and their ideas.

-Financing, even in a small scale, is being provided. For instance, CYTA offers awards of between 4000 to 10000 euros per year for start-ups; IDEA incubator / accelerator will be offering €10,000.

-Also, at last, Government is realizing the significance of assisting and facilitating start-ups and young would-be-entrepreneurs. Thus it has developed and launched various schemes, like the Funding Scheme for the support of Youth Entrepreneurship, the Funding Scheme for the support

of Young Business Women and the Funding Scheme for the Enhancement of Entrepreneurial Innovation, which aims to develop, support and promote entrepreneurship among young people by using their knowledge, training and talents.

WEAKNESSES

- Financing is very limited as compared to other European countries. For instance accelerator programmes abroad offer up to 100,000 EU for start-ups. The current financial crisis is not helping in the investment in new ideas, which is partially why funding is limited. Furthermore, the economic situation often acts as a deterrent for the growth and development of business ideas. -There are serious concerns that government inhibits in many ways the establishment of startups through time consuming applications, bureaucracy, the lack of innovation and the ability to understand the way young entrepreneurs and millennials are acting and working.

-Administrative processes: Related to the above there are many complications in terms of permits, legalities, forms, etc., which hinder the establishment of start-ups.

-It is also noted that there are very few communication channels within and between key stakeholders. For instance many educational institutions are beginning start-up actions very independently from one another instead of collaborating. Clearly, through forging partnerships, results could be more impressive and the business environment of Cyprus could be developed and evolved very rapidly.

- Mentality: It seems that the youth culture has distanced itself from entrepreneurial and innovative activity. This can be attributed to the full employment conditions of the past where all graduates were getting absorbed by the labor requirements of the country. Also the civil service would employ a large number of graduates.

-Low success rate, (e.g. according to the CYTA interview only 1-2% of start-ups succeed) and high percentage of failure, are possibly discouraging further entries in the entrepreneurial arena. This may be attributed to the small size of the local market.

- Lack of information: many initiatives and relevant activities are being missed simply because people don’t find out about them, as for example was noted in the HELIX interview. People and organisations seem to be hogging useful information and resources.

- Lack of research: more research (e.g. market research, product research, online businesses, etc.) needs to be conducted, thus opening the doors to available opportunities.

BEST PRACTICES It is admittedly a challenge to identify best practices in Cyprus. Due to the country’s size, the small market, the fact that initiatives are just now beginning in addition to other factors as mentioned above, Cyprus has yet to establish an appropriate environment where best practices and benchmarks can be identified.

-However, in the efforts to kick start development, experts from abroad are constantly being invited by universities, private institutions and others. Relevant conferences and workshops are on the rise.

-Also intrapreneurship efforts are being encouraged by large organisations such as CYTA.

-It has been understood by some authorities that an entrepreneurship spirit is developed at an early stage, e.g. HACK CYPRUS 2013 was sponsored by CYTAMOBILE Vodafone and others; its purpose was to provide teenagers, age 13-19 the chance to participate in innovative workshops.

-Although it goes without saying and it is not done in Cyprus to the necessary degree, an identified best practice is the collaboration of universities with private companies and other stakeholders for the enhancement of an entrepreneurial ecosystem.

-Pilot testing is a very useful tool which has been found to assist in corrective actions thus it is recommended that it is included in all start-up drives.

Results from doctoral Centre and career services visits

The European University-Cyprus Career Services has been actively trying to introduce an entrepreneurial spirit among students and graduates, with many relevant activities, including free presentations and workshops. However, no special emphasis has been placed on building the entrepreneurial skills of non-business students. With the establishment of the Microsoft Innovation Centre at the University’s premises, it is anticipated that both students and faculty will be able to take advantage of that firm’s relevant expertise. 5 EU visits: strengths and weaknesses, best practices, existing gaps

The set of organisations that agreed to participate in this study from other European Countries is shown below. GrantXpert Consulting visited three organisations in Athens-Greece and two organisations in Denmark. The European University Cyprus visited two organisations in Italy and another two in Rumania. Chrysalis Leap visited one organisation in Greece and one organisation in Hungary. CYBAN visited two organisations in United Kingdom and one in Bulgaria.

EU VISITS IMPLEMENTED BY GRANTXPERT

 Athens, Greece ORANGE GROVE FOUND.ATION THE CUBE

Equity Private Private Private

Co-working space – Type co-workspace Co-working space Accelerator Programme

Education Mentoring Classes/Workshops/Courses Seminars / Workshops BOOTCAMP Designathon Technical support, Programming, Mentoring and Hackathons Coding, networking activities, Course material. Topics of Legal and accounting Supporting activities courses services, and also it according to the help needed like legal organises several open information, marketing events activities, technical issues and financials.

In Greece there are 14 accelerator programmes (e.g. StartupBus Greece, Incubation 4 growth, The Cube, CoLab Workspace, etc.), from which no one is offering funding except the accelerator programme by Metavallon in Athens, Greece, where the funding is up to 25,000 euro and equity is 8%. There are also 2 investment funds, StartTech Ventures which gives a fund of up to 100,000, and the National Bank of Greece, which gives funds up to 500,000 euro. Furthermore, one can find several start up events organized on an annual basis, 2 contests (Hot eLearning Startups pitch, Promising Greek Startups-TiE) and several co-working spaces and incubators, like the FOUND.ATION and Orange Grove. Therefore it is difficult to draw absolute conclusions regarding practices in Greece as a whole, as the entrepreneurial ecosystem has been developed during the last few years and there is no consistency.

During our visit in Athens we had the opportunity to visit the following organisations:

 Orange Grove is located in Athens, Greece. It is a co-workspace supported by the Dutch Embassy and leading businesses and universities in Athens. It is a well-equipped, neatly designed space for 50 young entrepreneurs, that has links to companies (from corporates to start-ups) and educational institutions (Delft University of Technology, University of Amsterdam, Athens University of Economics and Business).

 Found.ation is a top-notch, privately funded and operated technology hub located in Athens, Greece. Originally established in 2011 as one of the first co-working spaces in SE Europe, Found.ation’s mission is to develop and mature local aspiring startup companies and talent by creating nationwide acceleration programs and a marketoriented Startup Education program, alongside quality events and hackathons. Their main mission is: “Turning Enthusiasts into Entrepreneurs”.  THE CUBE is a new startup cluster and innovation space in the heart of Athens, which was established in 2013. Cube is hosting the best of Athens’ innovators in the technology and making space. It is bolstered by its core management team, its partnerships with technology training institutes, an investment fund, technology user groups and the maker movement.

 DENMARK DANISH CSE CBS FOUNDATION

50-50 public-private Public (part of CBS) Public Equity

Financier of Danish Student incubator and Business School with focus on educational institutions(all accelerator entrepreneurship and the set-up of levels) for the promotion start-ups with international Type of entrepreneurship in prospects.Has its own education incubatoraccelerator (CSE).

Training EFFECTIVELY as Formation of Key aspects of entrepreneurship: many entrepreneurship multidisciplinary teams with modern marketing, finance, lean teachers as possible so the objective of setting up startup, law, IPR, leadership skills. that they promote and startups the founders of Competitions. Thesis on an innovative stimulate innovative which will be the members idea provided by STEM PhD students Topics of student entrepreneurial of such teams. Mentorship. from other Danish Universities. Trips courses ideas at all schools and Workshops. Trips abroad. abroad to partner universities, part of universities in Denmark. Presentations by serial course/training. entrepreneurs. Pitching techniques

During our visit in Denmark we had the opportunity to visit the following organisations:

 DANISH FOUNDATION FOR ENTREPRENEURSHIP: The main responsibility of this Foundation is to allocate funding for the further development of entrepreneurship in education in Denmark. More specifically this Foundation is Denmark’s central knowledge center and focal point for the development of entrepreneurship teaching at all educational levels in that country. The primary objective of the Foundation is to promote and stimulate innovation and entrepreneurship at all levels of educational institutions in Denmark from primary schools to Ph.D., under the slogan from ABC to PhD. Its major objective is to increase the number of pupils, students and teachers involved in innovation or entrepreneurship-related activities. The goal is that entrepreneurship should be ‘on the table’ in primary and secondary education, and that it must be in the curricula of higher education so that in future they will have trained more innovative business leaders and employees. The beneficiaries of the Foundation’s funding are 38,709 students (including several STEM students as mentioned above )in 881 Danish schools of all levels and Danish universities (including STEM universities).The Foundation also develops and publishes its own educational material, advises on the implementation of entrepreneurship in teaching, and facilitates the cooperation and networking about entrepreneurship education. The annual budget of the Foundation is 7 mill. Euros. The Foundation is financed through a

mix of governmental and private funds. The private funds come from a range of different sponsorships (including Microsoft) covering many different parts of the business sector. As a small company or private individual one can contribute to the good cause in kind by giving one’s time; for instance, as a judge at one of the Foundation’s competitions for children and young people. As a large business one can make a sponsorship agreement or a special activity sponsorship with the Foundation  Copenhagen School for Entrepreneurship (CSE): The Copenhagen School of Entrepreneurship (CSE), founded in 2007, is a part of Copenhagen Business School (CBS) which is a government-funded university in Denmark and one of the best business schools in the world, according to several rankings. CSE is both an incubator and an accelerator. Currently CSE is the largest student incubator in Denmark, where every year approximately 125 startup companies from a wide range of sectors and universities are supported in developing and commercializing ideas into business. CSE offers startup companies online tools, workshops and continuous supervision from day one and supports their development in close collaboration with external coaches, mentors and business partners among established companies and serial entrepreneurs. Since its start of operation in 2008, CSE as an incubator has contributed to the establishment of about 500 start-ups (in the technology, consultancy and finance sectors).Although being an incubator, CSE and its the partners do NOT take any ownership stake in the participating companies. Furthermore, mentors and advisors at CSE sign a non-disclosure agreement prior to a programme start. CSE also runs its own unique accelerator programme; the Go Grow accelerator, open to student entrepreneurs and entrepreneurs who are not in university. The Go Grow programme is designed to help make businesses thrive and is suited for international growth – through collaboration with personal mentors, experts, CSE staff and other startups. Included are monthly workshop sessions, taking part in facilitated group works, going abroad to targeted markets, learning new and easier ways of financing projects and getting a unique chance to continuously exchange ideas with a broader forum. The programme starts every February, and runs for 6 months. Startup founders 23

are not expected to spend full time during this period working on their startups, but must expect an increased work load. Throughout the whole programme, CSE provides workspace to ensure a dynamic working environment. Despite the fact that the Go Grow program has only been open since the beginning of 2014, and the fact that only 23 applicants were accepted, some of the participating entrepreneurs from CBS have already benefited from the program by establishing startups, able to compete in the international market.  COPENHAGEN BUSINESS SCHOOL (CBS): CBS is a government-funded university in Denmark. Key CBS figures: 21,000 students (of which 3,600 foreign students and 250 Ph.Ds.), 750 permanent academic staff, 700 part-time academic staff and 1,500 employees. CBS offers a wide range of undergraduate and graduate programmes within business/entrepreneurship, typically with an interdisciplinary and international focus. CBS students wishing to become entrepreneurs are given priority for admission at the Copenhagen School of Entrepreneurship (CSE) which is an integral part of CBS.CSE is both an incubator and an accelerator(see above for a short description of CSE). French ratings agency Eduniversal ranked Copenhagen Business School as the #1 business school in the world in 2014, followed by London Business School and Harvard Business School. Copenhagen Business School was also awarded a 5 Palms rating, as one of 100 Universal Business Schools with ‘Major International Influence’. In May 2015, Copenhagen Business School was ranked as the best school in the Nordic countries for business and management courses by the worldwide university rankings guide QS, and as the sixth best in Europe. CBS came in ahead of the highest-ranking institutions in the other Nordic countries – BI Norwegian Business School (20th), Aalto University in Helsinki (18th) and Stockholm School of Economics (16th) – and also surpassed some of the most prestigious institutions in other European countries, such as the University of Cambridge (8th) and HEC Paris School of Management (7th).

EU VISITS IMPLEMENTED BY EUC 24

 ITALY

H-FARM Trentino Sviluppo

Equity Private Public

Type Acceleration Programme & Digital Academia Business Centre

Digital Entrepreneurship Main emphasis is on Topics of courses technological breakthroughs and machinery, and tourism

There are over 60 accelerator programmes currently in operation in Italy. Funding has been found to range from 0 to 150,000 euro for start-ups while equity also has a very wide range, from 0% to 40%. Examples include: 42 Accelerator, Torino (15,000 euro, 5-10%), INCENSe, Rome (150 000 – 0%), Hardware Accelerator, Trento (50,000 euro – 15%), Imagginando, Laveno-Mombello (150,000 euro – 30%), etc. (for a thorough list see, https://www.f6s.com/accelerators/italy).

Therefore it is difficult to draw absolute conclusions regarding practices in Italy as a whole. There are evident variations. Also specialisations differ. They include digital marketing start-ups, designing platforms, green marketing, food innovation, tech start-ups, spinoffs, etc.

See pages 28-29 for the ‘strengths’ of the visited organisations.

 ROMANIA Gemini Solutions Foundry ASE StartUP Incubator de Afaceri

100% private mixed funding: EU funding, state from ASE, private (from Equity sponsoring companies)

flexible accelerator, customised on the business incubator needs of the companies it provides funding Type to

IT filed only, Face to face course only, maybe from next year online hybrid The training course is customized to the course on the website or a needs of each potential startup and it is communication platform for always face to face. (usually ICT courses video streaming, etc. and technical support in house), Intellectual Property Rights, Legal Aspects of company Courses of 40 hours of training Topics of courses establishment, entrepreneurship- for about 400 people a year. outsourced) Courses on LeanStartup. In the area of business plan, business models, cash flow calculations, how to validate a business idea, business and soft skills ( communication, sales).

 The Gemini Solutions Foundry has derived itself from Gemini Solutions, a consultancy firm in IT with over 10 years’ experience in Silicon Valley in the U.S. and in Western Europe. Based on their success it now buys companies in Romania and it provides funds for the startup of 3 to 5 people and it responds to the Romanian market needs. Their market niche is micro Romanian companies, but it aims at targeting these companies possibility to expand at international level, thus overvaluing themselves and targeting international value. GSF has three levels of services: 1). Level one is free of charge advices for directions of the business. 2) Level 2 are various services and a 2-3 month long term cooperation with daily availability after the evaluation of the effort involved, after which an equity percentage is agreed for sharing the startup profits and capital. Investment

funds from U.S., France and Germany are involved in the financing part and they are provided through GSF. There are specialized classes labelled “Lean start up" which are for one semester, which explain the results of researches, have an impact on hundreds of people, and explain the practical value of their work. They are ‘dressed up’ like entrepreneurship courses and make the ‘start-up-ers’ get out of their comfort zone.  ASE StartUP Incubator de Afaceri has been funded by a mix of sources including EU funds, the ASE state funds and a small percentage from private companies funding. It is very new as it was started at the beginning of 2014, and is operational since early 2015. The incubator has to offer to 40 start-ups funding of 25,000 euro each. There were 260 idea plans, of which 150 submitted and 86 preselected, of which 40 will be funded. The start-up people are mainly students and graduates of ASE who want ‘more from life'. The eligibility is based on two regions of Romania: Bucharest, the capital and Ilfov District, South -West Olt district, Gorj, Dloj, Olt, Valcea, Ilfov, but they are open to other regions as well as any foreign students residing in Romania. This year there is a project on students from Spain from the MBA programme. They do not have enough money for such entrepreneurial projects and the limit is small, 5,000 to 10,000 euro. There is a need to fund 1000 firms per year at 5000 euro each. Also, a need for people skills, incubators, facilities and to find the right equilibrium of this mixture.

EU VISITS IMPLEMENTED BY CHRYSALIS LEAP

 GREECE AND HUNGARY 27

ORGANISATION 1 ORGANISATION 2

Equity The EGG – Greece MyCo Incubation - Hungary

Type Incubator - Accelerator Incubator - Accelerator

Course content is adjusted according Course content is adjusted to the needs of each participant in the according to the needs of each program and covers all main areas participant in the program and Topics of courses (business modelling, financial, legal covers all main areas (business etc). modelling, financial, legal etc).

 The EGG The EGG is a Corporate Social Responsibility initiative by Eurobank designed and implemented in cooperation with Corallia, that aims to boost young innovative entrepreneurship and improve employment opportunities for young people in Greece. It is an integrated incubation, acceleration and co-working programme.

 MyCo

MyCo is an incubator-accelerator program based in Hungary. It has a close collaboration with Climate-KIC, Europe’s largest initiative to tackle climate change by transforming green ideas into viable businesses.

EU VISITS IMPLEMENTED BY CYBAN

 BULGARIA AND UK

ORGANISATION 1 ORGANISATION 2 ORGANISATION 3

Equity ELEVEN – Sofia, Bulgaria The Bakery – London, UK Techstars – London, UK

Type Accelerator venture fund Accelerator Programme Global Accelerator

Design thinking, mentor 12-week intensive f2f training Over the 12 weeks, the teams week, workshops on legal, and mentoring: product design meet f2f 3 times with the Offerings – marketing and fundraising & development, customer brand companies and 5 times Activities issues. Additional ad-hoc development, product-market with Bakery for mentoring and workshops on topics such fit, stage performance, investor monitoring. as stage performance. pitch.

 ELEVEN, Sofia –Bulgaria Eleven is an innovative accelerator and venture fund for early-stage European startups— providing mentorship, wide range of support, and critical initial capital to entrepreneurs and their ideas.

 THE BAKERY, London- UK The Bakery is the first dedicated program that offers advertising and marketing tech developers direct access to and mentoring from top brands and agencies so they can get their first big clients quickly.  TECHSTARS, London – UK Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to build their business.

STRENGTHS OF THE VISITED ORGANISATION IN GREECE

• They have utilised European and other initiatives which combine competition and training. • They have identified and taken on board various mentors who are successful in their practices and willing to share their knowledge. Orange Grove offers an extensive mentoring program. • Cooperation among various important stakeholders, which include government, universities, businesses, etc. For instance, The educational program of Orange Grove is offered in cooperation with some renowned universities in this field, like the University of Amsterdam (Amsterdam Centre for Entrepreneurship), the University of Delft (‘YES!Delft’),the University of Wageningen (Startlife) and the Athens University for Economics and Business. • Structured step by step training programmes with specific coaches along the way. For instance, Orange Grove has a well-structured training programme with fixed admission criteria. One can attend the training program of Orange Grove after completing an application form and preparing a business canvas model. • They offer wide selection of training opportunities including BOOTCAMPs, seminars and workshops, classes, courses, aiming to help young entrepreneurs to turn their idea into a viable enterprise. • Helping in promoting start-up ideas and marketing in general. • Networking facilitation. For instance, Orange Grove has a large network of experienced people in the Netherlands and Greece who are visiting the working space in order to meet with young entrepreneurs and exchange ideas and views. These people are all experts in their fields and they come from a wide range of multinationals, companies, universities, authorities, or they are entrepreneurs themselves. Also, these organisations bring together professionals and young people from several sectors, like web design, social media, advertising fields, basic electronics and Arduino, fashion design, jewelry making,

woodworking etc., as well as bringing together potential investors with young entrepreneurs interested in cooperating with startups. Also, EGG has a great network via Corallia and Eurobank. • They give great emphasis on the personal skills of the attendees and they help them in their personal development. For instance, at Orange Grove they guide them in how to present themselves and their idea and they explain how character influences the realisation of an idea.

STRENGTHS OF THE VISITED ORGANISATION IN ITALY

H-Farm is located in Roncade, in northern Italy, not far from Venice and Treviso. It mainly focuses on internet-based start-ups and mobile apps. • Possibly a big strength is that it is situated in a dedicated space, in farm land in open fields. Its 7 buildings are in relative isolation and this is described as an advantage because it allows training participants and entrepreneurial teams to concentrate on the work at hand. • The biggest advantage of H-Farm is probably its (realized in many ways) vision of creating a ‘creative village’ where every start-up need is almost self-contained: from business model development, to legal and other issues. • Participants are expected to fully commit themselves to the enterprise during the whole program cycle. They do nothing else but train and develop their entrepreneurial ideas during the period with H-FARM. • Start-ups obviously need funding and H-FARM has backed such operations (over 80 start-ups) with over 20 million Euros in the last decade. • Specialisation in accelerator programmes is important in order to provide specific expertise in terms of mentoring, knowledge of the market, etc. • Specialisation within the organization is also important for the same reasons as the above. For instance, H-FARM has: 1) Acceleration Programs; 2) Portfolio Investments 31

(this includes ‘scouting and advisoring’, that is, selecting the best start-ups from various industries from around the world); 3) Digital transformation (turning ideas, creations, inventions into viable business models); and 4) Digital Education. • There are always very high numbers of applications for participation in H-FARM programmes and only a few are selected every time. As a result, the quality of entrants tends to be high, thus increasing the chance for a successful start-up. So a strength of H- FARM is generating high demand by marketing themselves well.

Trentino Sviluppo is ‘headed’ by a local governmental board, at Trentino.

• A big strength is that they help in the development of the area and as a result they get help of all kinds from local stakeholders. • They too specialize, with the main emphasis being on technological breakthroughs and machinery, and tourism. They concentrate on: developing foreign markets; business development; seed money; European projects; incentives and opportunities; production spaces; incubation centres (BIC’s); Mechatronics; business crisis; green and clean technology; porphyry and stone industry; the Trentino film commission; branding Trentino; communication and events; Human Resources; Foreign Direct Investment; Marketing; Tourism; and assistance in starting up a business. • They have high-tech labs e.g. Mechatronics labs, which combine mechanics, electronics, automation, robotics and informatics and these often involve expensive massive machinery. This is available for use by local entrepreneurs who would otherwise not have access to such a cutting edge environment. • Training is very targeted. For instance, they provide training for exporting logistics, identifying market opportunities, etc. • They purposely don’t strictly adhere to the label of an accelerator organization. There is an accelerator ‘wing’ (internally and externally – apart from internal related activities) as well as other major divisions.

• They get involved in innovative activities such as: experimental apps, video games on a treadmill, a ‘passive house hotel’ and water purification using recycled bottle caps.

The organisation delivers training in ‘pre-incubation’ and ‘incubation’, the former involves more basic preparatory courses (e.g. business English language courses).

STRENGTHS OF THE VISITED ORGANISATION IN DENMARK

• Member of Junior Achievement (JA) Organization which promotes entrepreneurship to over 3.2 million students in 39 European countries (including Denmark) with the help of 146,831 teachers and 165,630 business volunteers. (DANISH FOUNDATION) • Receives public as well as private funds from various financially strong sponsors for entrepreneurship at school. (DANISH FOUNDATION)

• CSE is part of CBS, one of the best Business Schools in the world. • CSE has experienced mentors. • CSE is the biggest student incubator-accelerator in Denmark with a big number of successful start-ups associated with it. • In CSE one can find good networking opportunities. • Based on several rankings, CBS is one of the best businesses in the world attracting worldwide famous lecturers/mentors. CBS is Public/Government funded. • CBS has partnerships with a large number of the most renowned universities of the world with which, among other, exchange students • CBS puts theory into practice, from lab to market place.

STRENGTHS OF THE VISITED ORGANISATION IN HUNGARY

• Capacity – the program has several intakes during the year • Network – collaboration with Climate-KIC • Continued support to Alumni teams via bi-weekly meetings

STRENGTHS OF THE VISITED ORGANISATION IN BULGARIA

• ELEVEN is an "accelerator venture fund". Their main difference from a typical accelerator is that they have the capacity to invest up to €200K in each company they accelerate. Its main asset is the large community of around 300 founders (20 nationalities) in the last 2 ½ years who are very active in the program (as mentors). • Strong partnerships with top Incubators internationally- a ‘Gentlemen’s agreement’ with The Family Incubator from France, where GSF helps with experts in the technical field. Partnership with the U.S. investors in the sense that there are investors who fund the Romanian start-ups through equity finance and venture capital, arranged by the mother company (Gemini Solutions Foundry). • There are 40 start-ups funded for 2015 each of 25,000 euro (ASE StartUP Incubator de Afaceri). • A good customized model of doing business, access to the U.S. investment funds and market, excellence in product development, technical experience (Gemini Solutions Foundry). • Relatively high number of participants per course (400 participants -ASE StartUP Incubator de Afaceri). • Changes and adaptation of the courses curriculum (ASE StartUP Incubator de Afaceri).

STRENGTHS OF THE VISITED ORGANISATION IN UK

• The Bakery is a B2B Sales Accelerator, matching big-name brands, such as AB InBev and Panasonic, with startups. It is a sales-focused accelerator helping startups match their technologies and solutions to actual challenges from multinational companies (brands). • Techstars main strengths are its Global experience, strict selection criteria, industry contacts and mentor quality. All these create a great name. 35

WEAKNESSES

• Lack of funding opportunities. It is difficult to find access to capital. Although they have decent networks of experts, an even wider network would provide more opportunities. • The “employee mentality” is a huge problem especially in CY, GR and IT. • Limited communication among incubators and accelerator programmes in Greece. • The lack of a market which can absorb an idea. • Lack of skilled developers. • Absence of local investors for financial support of start-ups. • The assembled start-up teams would be stronger if they consisted of a bigger range of specialisations. • Monitoring of progress in entrepreneurship in education difficult to track.(DENMARK) • Shortage of entrepreneurship teachers. (DENMARK) • ELEVEN (BG): Founder teams do not challenge their hypothesis enough and should talk to more mentors. Network of mentors and customers in specific industries and verticals is limited. • The Bakery (UK): Program does not provide real market challenges to graduate teams to solve, thus creating their business around the developed solution. • Out of 150 projects screened, 60-100 had great ideas, all went to Level 1 of advice, only 2-3 are startup feasible, hence a low success rate in funding (Gemini Solutions Foundry) • No international partnership agreements with higher education or industry in the field (ASE StartUp Incubator de Afaceri) • There is no local recognition of the training accreditation (Gemini Solutions Foundry).

• High red tape EU procedures in accessing entrepreneurship funding, filling documentations, more personnel needed in this respect, hence higher costs, a lax political and fiscal police and more funding is needed ( Gemini Solutions Foundry) • Setting up operational teams, organizing the incubator , administrative issues, when a small team is available (ASE StartUP Incubator de Afaceri)

Usually the team of entrepreneurs have their own version of the product, that has no adaptation possibility to the market, lack of flexibility, testing the product and the lead to market (Gemini Solutions Foundry). • Getting rid of the academic content and include entrepreneurs more in the learning process, more focus on the sales, know-how and soft skills is required (ASE StartUP Incubator de Afaceri)

BEST PRACTICES

• They organize several events, seminars, workshops, competitions, short meetings on a regular basis in order to develop the entrepreneurial culture among young people and/or to help them enhance their knowledge and skills. (GR,CY) • The duration of courses is highly flexible depending on the available time of participants and their needs. (GR) • Identifying funds not only from local sources but also from international. (GR, CY) • Co-working spaces provide an appropriate innovative environment. The organisations apart from work space are also offering supporting services: mentoring/coaching; Legal advice; Event management; Product management; Business development; Product marketing (on-line/off-line); Consulting; Networking; Access to investors. (GR, CY) • Well-adjusted curricula according to the needs of the market and the participants. (GR) • The mentoring programs are tailor made, depending on the kind of idea the participant is pursuing inside the organization. (GR) Follow ups and other networking activities. • Dedicated facilities and development of a ‘creative village’ where all needs are satisfied on location (H-FARM, IT)

• Enough funding is secured for the start-ups. This increases the chance of success. (HFARM, IT) Specialization both within the organization (i.e. specialized departments) and in terms of provision of assistance (i.e. expert mentors). (IT) • Trentino Sviluppo is not strictly a money-making concern and it does not think in a modus operandi of creating ‘profit centres’, as other similar operations might do. Their aim is to improve the economy, conditions, opportunities and competitiveness of the Trentino area. • Trentino Sviluppo provides personalised consultation • Following up and supporting a start-up for extended periods. For instance, Trentino Sviluppo “stays” with the new company for up to six years. • The Danish Foundation for Entrepreneurship has worked out a model for the understanding of entrepreneurship education throughout the educational system. The purpose of the model is to inspire and help clarify which learning objectives and activities may be included in professional contexts at different schools and educational institutions. The model includes four dimensions: Action, Creativity, Environment, and Attitude. • Formation and development of multidisciplinary teams among participants (CSE) • CSE’s unique Go grow accelerator programme assists innovative start-ups with prospects to succeed in the international market. Part of participants' programme has to be spent working abroad. • CBS students encouraged to do their thesis on STEM fields after arrangement with STEM students of other Copenhagen Universities. This is a win-win arrangement for CBS students and the STEM students. • CBS students wishing to become entrepreneurs after their degrees are accepted by CSE (CBS's incubator-accelerator).They are encouraged to form startups with those STEM students in order to commercialize the thesis ideas.

• EGG in Athens has a structured selection process for the people that will enter its accelerator programme. • Alumni participants are offering guidance to new entrants (EGG, GR) At ELEVEN (BG), the first half of the program is full-time and quite intensive and covers topics such as design thinking, mentor week, workshops on legal, marketing and fundraising issues. The second half is less instructive (about 15 hours per week) and more practical and includes ad-hoc workshops on topics such as stage performance. • The Bakery (UK) is the first dedicated program that offers advertising and marketing tech developers direct access to and mentoring from top brands and agencies so they can get their first big clients quickly. Over the 12 weeks, the teams meet f2f 3 times with the brand companies and 5 times with Bakery for mentoring and monitoring. • Techstars (UK) - 12 weeks extremely intensive and practical program, involving experienced mentors, industry experts and real customers. • There is a high customization on the needs of the customers ( innovators) ( Gemini Solutions Foundry). • They offer incubator space for free for the students and charged for non-students, over 600 sqm (ASE StartUP Incubator de Afaceri). • Their training focus is on team partners and matching rather than individuals ( Gemini Solutions Foundry) • The group of ‘students’ are collaborating among them so that later on they can create their own business (ASE StartUP Incubator de Afaceri) • They use a a mix of experts, academics entrepreneurs, lawyers, accountants, trainers in sales and communication are used in course delivery (ASE StartUP Incubator de Afaceri). • There is an accreditation of the courses for the entrepreneurs (ASE StartUP Incubator de Afaceri).

• There is in both organisations a rigorous selection process in funding the potential entrepreneurs. • They offer financing directly, having stronger connections with HEI, programme accelerators internationally (Gemini Solutions Foundry)

6 Suggestions on modules to be included in the SCIENT package

During the implementation of our visits, both at national and European level, we had the opportunity to discuss suggestions for the subjects that, according to their opinion, are most important and essential to include in our training package for PhD STEM Students and Graduates. The suggestions of the visited organisations on modules that should be included in the SCIENT package, are the following:

• Opportunity sizing and market research • Presentation skills, Pitching skills, How to talk to investors • Business modeling • Raising finance • Negotiations • Legal aspects • Recognition of failure and Management of Failure • Communication within and outside the team • Networking activities • Applicable Market – Market feed (Product/Service – Market fit)- Real market problems • Building an Entrepreneurial mentality and culture • Practical Accounting and Finance • Dissemination • Business courses • Soft skills in general • Business Feasibility • Business Marketing • Industry and Market-Specific Training • Team building - Teamwork • Market testing • Internet and digital marketing 42

• General Commercial & business skills • Pivoting of original idea • Intellectual Property management & protection

Based on our 3 visits in Denmark, we have come to the conclusion that the following models should be included in the SCIENT package: e teaching part the main modules are:

 The process of starting-up a business  Design Thinking: your start up could only succeed if it will produce something (good or service) that will address specific consumer needs.  The lean start-up: satisfying consumer needs with the minimum possible resources.  How to protect your intellectual property through Patents.  Elements of Finance  Elements of modern Marketing.  Studying the needs of your customer.  Leadership and effective building of multidisciplinary teams.  Effective pitching techniques.

Additionally, for STEM PhD students tailor-made modules should be incorporated in their entrepreneurship program/training. Those modules should focus on issues relating to industries/products and services directly related to STEM scientists e.g. bio or life-science industry issues such as: Bio Business Management, financing of product development, sources of seed capital for their specific sector, negotiation skills, strategic alliances, commercialization strategies etc.

7 Perceptions of visiting organisations about the potential of our SCIENT package

The organisations we visited both locally and at a European level, especially organisations that offer educational / training services like FOUND.ATION, ENTICE, IDEA, or organisations that wish to include in their services the provision of educational / training services like CYBAN, CEL, were particularly enthusiastic about our initiative and the objectives of SCIENT project.

Some of them expressed their interest to participate in our project either as members of the Advisory Committee of the project, or as mentors during the implementation of the mentoring sessions. Also, the local organisations asked us if it is possible to attend the pilot workshops that will take place in Cyprus after the completion of the programme.

They agreed that the target sector of our SCIENT project is of particular interest to them as the potential from its utilization and its application is diverse and will facilitate different areas.

In general all organisations visited praised our efforts of engaging in the SCIENT project since it will contribute tremendously to scientific entrepreneurship thereby encouraging and empowering more STEM PhDs to move from their labs to the market place by commercializing their research. SCIENT is considered very promising in improving the level of PhD founder teams that turn into accelerators, if we manage to make the programme as practical as possible, thus matching the graduates’ PhD research with actual market challenges.

8 Conclusions

The present entrepreneurship programmes offered by most business schools in Europe do not address the specific needs of STEM PhDs wishing to become entrepreneurs. We are optimistic that with the full implementation of our SCIENT package the current gaps in such programmes will cease to exist, with beneficial effects on scientific entrepreneurship and the number of STEM PhDs who become successful entrepreneurs.

Furthermore, there is a verified huge gap in PhD graduates’ commercial knowledge, teamwork ability and in applying their research results to real market problems. Even though some HTI’s teach entrepreneurship to PhD students, they do so inside their own "sterile" environments, resulting in a gap in realistic and practical market knowledge. It was obvious from the local and EU visits that challenging the graduates on the applicability of their research results in solving real market problems will be a major success factor.

Annex I: Results from organization visits (local and EU)

Results from local/national visits

GrantXpert Local Visits

Organisations Institution Nr. 4 Institution Nr. 5 Institution Nr. 6 Institution Nr. 7

CAPITAL IMPACT Cypriot Enterprise Link Diogenes Business Entrepreneurship and 121 Prodromou Ave. (CEL) Incubator Innovation Centre of 1306 Strovolos & Entrepreneurship Centre CIIM, Nicosia University of Cyprus ENTICE Cyprus 2 Limassol Ave., 21 Akademias Avenue Wights Bldg (ELMA), 2003 2107 Aglandjia Nicosia, Cyprus Nicosia, Cyprus P.O.Box 20537, 1678 Tel: +357 2246 2246 Nicosia, Cyprus Fax: +357 2233 1121 Tel: +357 22 89 5110 Fax: +357 22 89 5055 Email: email: [email protected] info[AT]diogenes.com.cy & info[AT]Diogenesincubator.com

Capital Impact, is a gift The Cypriot Enterprise Link Diogenes Business Entrepreneurship and by the Cyprus Business (CEL) is a youth-led Incubator University of Innovation Centre of CIIM, Angels Network (CYBAN) organization aimed to Cyprus, wholly owned by ENTICE contributes, through to young entrepreneurial connect and support the the University of Cyprus, the provision of specialised Nicosia, bringing them Cypriot entrepreneurial Cyprus’ largest public consulting services, together into their own, talent in order to form a University, is a high education and mentoring, in specially designed home. technology business the creation of innovative local and a global Our building, 1000 square incubator aiming to new ventures (start-ups) entrepreneurial network meters of commercialize R&DI results and in the improvement of brilliantly simple, modern, supported by events, by creating business value. the competitiveness of creative space, houses a meetups, workshops and Diogenes is geared to existing innovative vibrant and powerful projects pioneering the enterprises. community. We host transformation of Cyprus powerful events, and try into an important center in Dr. Anastasia Constantinou to educate – inspire – the Eastern Mediterranean CIIM Director of and engage our young in the area of Entrepreneurship and community, create new commercializing high Innovation and Director of entrepreneurs, and technology research and ENTICE contribute to the innovative ideas and is entrepreneurial Tel: 22462246 Dir.: committed to developing ecosystem. And at the 22462213 entrepreneurship in the end of it all, there is email: [email protected] country as an important plenty of capital to be component of the process invested in great startups. Christis Plastiras CIIM professional and business development manager, ENTICE web entrepreneurship expert Tel: 22462246 Dir.: 22462217 email: [email protected] DELIVERY CAPITAL IMPACT CEL Diogenes & ENTICE Entrepreneruship Center Face to face BOTH both, we also have an Face to face How is the course e-platform delivered online/face to face/combination or both/other.

1 Session a week events DIOGENES This programme will be according to the workshops: 4 series of seminars, implemented every six training Ad HRS once a week, 6hrs months. hoc Code school: 1 series of lectures, The Business Concept is as discussions course every 2 3hrs every week follows: months 1.Application (a 3 pages

Hackathon: 1 or mini-business plan) ENTREPRENEURSHI 2 events during 1 2. Select the teams which P CENTRE twice a year for 48hrs were eligible according to week, 1.5 hr for 1 the rules of the semester according programme to the semesters of 3.Pitching event where all the University. the teams together were What is the duration of Emphasis will be presented their ideas in the course and how given to front of the ENTICE frequently are they entrepreneurship board and their mentors delivered? and innovation in 4.Selection of the best ideas order to develop 5.Mentoring and coaching entrepreneurial activities through the culture to the whole duration of the students of the programme university 6. 3 months laterpresentation of their business plan 7.1 month after the finalisation of their business plan - Pitching in front of investors 1 Session a week events DIOGENES 2 or 3hrs a day according to the workshops: 4 series of seminars, If necessary, can last one training - 2 days HRS once a week, 6hrs entire day - 8 hours Code school: 1 series of lectures, informal trainings course every 2 3hrs every week months (entrepreneurshi Hackathon: 1 or p, pitching, ENTREPRENEURSHI 2 events during 1 market, product) P CENTRE twice a year for 48hrs How is the delivery Ad hoc week, 1.5 hr for 1 structured e.g number discussions semester according of hours per day to the semesters of the University. Emphasis will be given to entrepreneurship and innovation in order to develop entrepreneurial culture to the

students of the university

Is the course No No No No accredited? If yes please provide details

Mentoring / networking We mainly aim to We are offering Networking activities / support the specialised Consulting /Open events/ promotion teams and the services for soft skills / ideas. We have Entrepreneurship and technical training the material Innovation, including available online globalisation and through a networking for platform established innovative enterprises striving for furthermore: growth and increased Value Adding competitiveness We Services Diogenes support them in finding offers what are public and private known as value financing. adding Incubation Services – customized business consultancy services, geared to adding value in startups - through its in house Do you provide any resources and support following the network of outside experts. The course – if so what? spectrum of support services include among others the following: Scientific Research Facilities Diogenes as a University of Cyprus entity can facilitate the use of required laboratories by collaborating companies. The University has a number of excellent quality laboratories and it is continuously upgrading the offered equipment and developing new facilities. Diogenes supports the liaising with UCY Research

Centers

no it is free for the Yes - Hackathon for our students it is no companies/startups and Insight free Is there a charge for the that rent events - course? If so how office in capital 4050euro much? impact

Mix of speakers Entrepreneurs Mix of speakers Mix of speakers, also Who is the course which are practitioners delivered by? E.g. academics and academics, professionals entrepreneurs, mix of speakers

Yes-Mentoring no Yes - we are trying During brokerage events activities for 3 to match students of that we are organising Do you deliver to months engineering with people can meet people individual students from MBA from other disciplines and entrepreneurs? If yes do develop together an idea. you encourage any The teams should include collaboration with 1 student from CIIM to others? participate in the ENTICE programme. Is it possible to sit in on NO slide share NO No any delivery or have a copy of the training material /outline to gain more indepth understanding of the training?

Once a participant gets NO- But they can no micro finance is a No accepted in your course, participate in possibility small 1.We are offering do you offer him/her an pitching events amount to cover consulting services, amount of money for of CYBAN their expenses training, mentoring and his/her living and during their networking and participation in subsistence costs? We also offer them Accelerator-type services. space, services, accelerator Emphasis is given to web internet, programmes abroad entrepreneurship, networking financial services and activities, marine entrepreneurship, mentoring sessions as well as, on a case to case basis, to other very (5hrs every 2 promising innovative months) ideas. 2.We are offering specialised postgraduate education and professional / executive training (in collaboration with CIIM executive education unit). 3.We are offering specialised Consulting services for Entrepreneurship and Innovation, including globalisation and networking for established innovative enterprises striving for growth and increased competitiveness 4.We support them in finding public and private financing. Through the provision of specialised consulting services, education and guidance, in the creation of innovative new ventures and in the improvement of the competitiveness of existing enterprises.

DEMAND

CAPITAL IMPACT CEL Diogenes & ENTICE Entrepreneurship Center 25 participants but we Workshops: 35 It depends according Around 21 people have capacity for 100 people to the course and its How many Hasckathon: 100 structure. participants do people Around 20-25 people you have per Insight Conference: course? 300 people Code school: 50 people How many of the majority the majority all of them 75% those that participate are graduates? Do you require the NO no It depends from the Yes, they have to entrepreneurs to admission stage prepare a business complete any plan and present it in preparation before front of the ENTICE commencing the board. course? NO- Must be start-ups no Yes - a Special Yes Is there a or individuals that they Committee examines selection process? have an innovative the maturity of the If so please idea and they want to idea, the team, the describe implement it prototype Is it open to others Yes yes To Cypriot students Yes within our outside and students from the EU? Greece The curriculum is No The curriculum is Our programme is not adapted to the needs of adapted to the needs structured but is Have you made the market and the of the market and the tailor-made. Our any changes in the participants participants mentoring and curriculum of the educational activities courses? Why? are offering in accordance to the needs of each group

SUCCESSES CAPITAL IMPACT CEL Diogenes & ENTICE Entrepreneurship Center

We have The Insights The participation in The graduation of 6 representatives from Conference 2015 several EU funded groups from our the most well-known where a great projects which were programme at a initiatives (CEL, Junior number of people implemented from very good level. Achievement, attended and we Diogenes. Furthermore, the Chrysalis, CYBAN) succeed through collaboration of networking and ENTICE with the promotion to cause Bank of Cyprus for social awareness. the creation of a The conference joint accelerator aimed to provide a and incubator. What would you mix of practical and say have been theoretical your biggest knowledge to an successes to date? audience hungry to learn. The conference took place over two days and included workshops and talks by world-class founders who shared their startup experience and expertise with our audience. 8 COMPANIES We are helping the 11-12 companies From the 6 groups, Of those that attendees direct and the 3 set up in participate in the indirect as we offer business programme how them the many set up in opportunity for business? networking and promotion

In CY is a unique and We are a youth-led For the development of We are offering a innovative initiative. We organisation We the Centre we followed practical educational have nonprofit support are very active in a Jewish methodology programme which from corporate CY but also we are that the Ministry of includes academics, partners. elaborate actively Commerce in Cyprus businessmen and For free services to the abroad suggested us. practitioners. Also attendees trying to bring We have the experience we have an Extremely attractive knowledge and new from the development extensive network of of Diogenes Business package ideas from outside contacts Incubator What would you We have the support say makes you of the biggest different from other University of Cyprus offerings? which is among the top 1000 University of the world We can use the facilities of the University We have high quality raw material - the students

1. Persistence 1. doer 1. Do what you love 1.Perseverance 2.Courage 2.confident 2.Have a good team 2.Communication What do you feel 3. Hard-work 3.take criticism and 3. Self-awareness 3.Flexibility are the top three 4.Afraid of failure feedback qualities to make a 4. Persuade people successful around them to entrepreneur? follow them 5. Communicator 6. Open to learning

IMPROVEMENTS CAPITAL IMPACT CEL Diogenes & ENTICE Entrepreneurship Center

For free space Recruit Full time Ad hoc training in Bring mentors from Structured courses personnel companies all over the world Acceleration Sustain financially A complete end-to-end expanding thereby Programme Offer an accelerator programme which will the pool of mentors programme be also continuous for with international What students and entrepreneurs. improvements academics Furthermore, give would you make funding to new to the service if entrepreneurs. Of there were no course, according to limits? recent research there mustn't be given a grant in order to push young people being on their edge. Funding to private Support young-led Give financial support Simplifying the sector that support the organisations Give Make investments to procedures for the start-ups access to young research More simple entrepreneurs Incentives to investors people and help procedures Internationalisation to invest on start-ups them through new Co-investment schemes schemes and Potential customers for programmes If the EU could do start-ups Give funding to more to improve start-ups Give entrepreneurship funding to what would this organisations that look like? aim to promote entrepreneurship through several activities Promote and support programming in schools

Access to funding The Yourself and the lack of funding lack of The culture- the mentality social norms entrepreneurial way of thinking culture Invest in the What do you feel is entrepreneurial culture the main barrier to Investment from EU in entrepreneurship? start-ups for long-term Patience

PARTNERSHIP

CAPITAL IMPACT CEL Diogenes & ENTICE Entrepreneurship Center NO With RELOAD Yes through the EU Network of Greece We projects we are contacts across organise implementing Europe forged Do you currently together (Germany, Greece, through our active work with any EU several events Spain) participation in partners? - if so and we European projects please provide info promote events Excellent together cooperation with (http://www.reloadg Enterprise Europe reece.com/) Network NO no no We have partnerships with professors and businessmen from Do you work with Israel, who participate in our any partners program as outside of the EU? - mentors. if so please add Student placement details activities for our students in Israel Cooperation with a University in Tel Aviv

EUC Local Visits

ORGANISATIONS Institution Nr. 1 Institution Nr. 2 Institution Nr. 3 Institution Nr. 4 HELIX- Business Incubator ltd. of CYTA Innovation Centre and ENERMAP and Cocoon Creations the University of Nicosia Idea Development ( CYTA Chrysalis Leap ICID)

http://www.helixincubator.com/ https://www.cyta.com.cy/ken http://chrysalisleap. http://www.cocooncreati

tro-kenotomias/en com/ ons.net/ Managing Director : Mr. Demetris Director: Mr. Christos Director: Paris Director/s: Michalis Hadjisofoclis Christou- Innovation and Thomas Strouthos, Elena Idea Development Centre Strouthos

DELIVERY

HELIX CYTA ENERMAP COCOON CREATIONS How is the course delivered online/face to Face to face, due to the No are at the If and when face/combination or both/other. interaction and initial required immediate quality stages of feedback obtained this organising way courses as and when required What is the duration of the course and how 4-5 hours per day, for 3-4/year depends on Depends on frequently are they delivered? 2-3 days, twice a year the demand demand of participants How is the delivery structured e.g number of 4-5 hours/day Whole day hours per day Is the course accredited? If yes please provide By Min of Finance for By Min of n/a details CYTA only Finance for CYTA only Do you provide any support following the course Mentoring after the mentoring Provides – if so what? training and providing feedback facilities of the after the incubator for follow up course Is there a charge for the course? If so how no no n/a n/a much? Who is the course delivered by? E.g. Specialized speakers/ Specialized academics, entrepreneurs, mix of speakers consultants, no speakers/ academics consultants Do you deliver to individual entrepreneurs? If To individuals/ yes To teams/ When is yes do you encourage any collaboration with through networks yes required others? provided Is it possible to sit in on any delivery or have a Yes n/a n/a copy of the training material /outline to gain more indepth understanding of the training? Once a participant gets accepted in your No Yes/ venture course, do you offer him/her an amount of or money for his/her living and subsistence costs? commission /bonus

DEMAND HELIX CYTA ENERMAP COCOON CREATIONS How many participants do you have 200 people per 20-30 Depends on Provides courses on per course? year demand demand 59

How many of those that participate 50% depends Initiated the Provides specialised are graduates? Junior courses on various Achievement topics Startups and i.e. CEL legal , CEL actually pink for women; mentored about CEL investors 32 young school pupils

Do you require the entrepreneurs to No No n/a n/a complete any preparation before commencing the course? Is there a selection process? If so No, anyone allowed Idea selection Depends on the Varies please describe initiative Is it open to others within our Yes, one No n/a n/a outside the EU? specifically targeting foreigners

Have you made any changes in the Yes, all the time, in n/a n/a n/a curriculum of the courses? Why? the funding information which changes

SUCCESSES HELIX CYTA ENERMAP COCOON CREATIONS

What would you say have In the area of Medical drug Just started Initiated the Initiated, HACK been your biggest patents in solving diabetes last year Junior CYPRUS 2013 successes to date? disease in Cyprus, but also Achievement which was have started some Startups. This is launched in 2013 startups, like a gym, a initiative now powered by souvlaki place, a nails part of the Cytamobile – cosmetician, but not really ministry of Vodafone with the true entrepreneurs. education aim of providing teven. Also set Teenagers aged up The Cypriot 13-19 the chance Enterprise Link to participate in (CEL) is a workshops on the youth-led basics of organization programming and aimed to robotics and alos connect and holds various support the competitions. Cypriot entrepreneurial talent in order to form a local and a global entrepreneurial network supported by events, meet ups, workshops and projects. Of those that participate in the programme how many set up in business? What would you say makes n/a n/a n/a n/a you different from other offerings? What do you feel are the n/a n/a n/a n/a top three qualities to make a successful entrepreneur?

IMPROVEMENTS HELIX CYTA ENERMAP COCOON CREATIONS

What improvements would you make Unlimited funds New laws To provide more Encourage to the service if there were no limits? support to young more investors people through locally and funding globally If the EU could do more to improve General Funding and To provide more Change the entrepreneurship what would this look turnaround assisting the support and business like? ecosystem funding culture in Cyprus which is now predominated by men What do you feel is the main barrier to High costs and Costs limitation on lack of funding entrepreneurship? advice funding

PARTNERSHIP HELIX CYTA ENERMAP COCOON CREATIONS Do you currently work with any EU No No Only local ones Only local ones partners? - if so please provide info like ENERMAP like Cyprus and Cypriot Entrepreneurshi Enterprise Link p Link and HACK (CEL) CYPRUS Do you work with any partners USA, venture No no no outside of the EU? - if so please capitalists add details

EU VISITS BY GRANTXPERT

Delivery

Name of company CUBE FOUND.ATION ORANGE GROVE

How the organization is funded: private/public Private Private split? Private mainly How the organization startup cluster and technology hub incubator identifies itself: innovation space science/technology park, incubator, accelerator etc.? Whether it works with higher education higher education higher education institutions / institutions / other institutions (HEIs) other partners higher education partners and/or other ‘partners’? institutions If it works with HEIs and On several ways Co-organized bootcamps other partners, in what On several ways and knowledge sharing way? Does it focus on working No Found.ation’s mission is to No, all setors with specific client develop and mature local groups or particular aspiring startup companies and sectors? talent by creating nationwide acceleration programs and a market-oriented Startup Education program, alongside quality events and hackathons How many staff it has. 2 10 4+

CUBE FOUND.ATION ORANGE GROVE How is your Online and Face to Face to face The educational programme is entrepreneurship face delivered face to face. We are programme delivered also preparing an e-learning online/face to platform where the participants face/combination or will have access and they can find their educational material. both/other? The platform is not live yet.

What is the duration of The duration of the This is not fixed but is Orange Grove is offering weekly the programme and how course is according modulated according to the seminars and bootcamps on frequently are they to theme and the class, seminar, course: educational programme. delivered? content of the -Educ.ation Furthermore they are offering course and its Classes/Workshops/Courses 2 many networking opportunities as they are organising very often objectives. We are or 3 classes during 1 week accordingly. We have classes several events and they have the offering turnovers of 2hrs or 8hrs during the connection with the embassy. on several themes. afternoon on different themes The selection of the people that One seminar could such as accounting, legal, will enter the co-working space of have a duration of social media, development, our organisation is implemented 1 day to 1 month. programminhg etc. 2-3 times during the year after Mainly the courses -Designathon: is a hackathon submitting a relevant application that we are offering for designers.Graphic design form and a canvas model. This are technical students and graphic designers process is implemented with the courses, e.g. coding have 24 hours to show their cooperation of Dutch universities and programming. creativity and skills (1 day / 2 where a bootcamp is organised. events per year) The participants have the -Workshops aiming to inspire opportunity to learn about and enable participants to take pitching, business model canvas, social action, create viable etc. The programme is businesses and propose implemented from people expert solutions to issues concerning in their field. health (1 workshop per year - The parrticipants that entered in 100 participants/event) - Orange Grove they have 6 months Hackathons (‘Hack or Die’): the after they run their business. event geared toward students Once their mentor or coach and young developers believe that there is an added interested in building new value to stay in our space, then platforms from scratch (2 they can rent office in our space events per year - 50-60 for 1,5 year. They are people that participants/event) -MeetIn5’: A speeding event started from the beginning and which brings together there still on Orange Grove. professionals and young people from the web design, social media and advertising fields as well as potential investors with young entrepreneurs, interested in cooperating with startups (5 events/year)

How is delivery Usually we organised Educ.ation structured e.g. number targeted seminars in Classes/Workshops/Courses of hours per day? a regular basis that 30 hours (6-7 days) they are held once a Designathon: 24hrs We are organising weekly week for eight or ten Workshops: accordingly seminars on several themes according to the weeks. The seminars Hackathons (‘Hack or Die’): 3 days needs of the participants are implemented MeetIn5’: accordingly that have a duration of 2 mainly in a single day hours. and mostly have a We also offer a one-to-one duration of 3 hours. discussion time, private The courses are held moments with the in the evenings so participants. they can being attended by those who work. Is the programme No No No accredited? If yes please provide details?

Do you provide any THE CUBE is FOUND.ATION is a co-working Orange Grove is a support following the essentially a space, which also has an coworking space which course – if so what? coworking space accelerator programme. We are offers several supporting which in parallel offering several supporting activities like mentoring organizes seminars activities according to the help and networking activities, and other needed like legal information, Legal and accounting side activities that marketing activities, technical services, and also it can help new issues and financials. organises several open entrepreneurs in We leverage our infrastructure to events where people have their development help the ecosystem to develop. the opportunity to share of their idea or their Many times we offer our facilities their experience and their business. The and services to individuals or ideas, and meet other supporting activities groups for free. Our infrastructure people. that we are is our tool and we operate as a offerinng in business entity. To the members of youngwould-be Orange Grove, we are entrepreneurs are: offering a work spot, a Technical support, flexible desk, access to Programming, our media groups, kitchen, Coding, Course locker, wifi, printing material. services and phone. Aside It is important if the from office amenities, we participants have a are offer them a dedicated good educational mentor and coach for backgroung as it will personal issues who acts be more easy to like a motivational them to understand psychologist. We are also the courses and offer business services like proceed. legal and accounting We are working in an services, the first couple innovative kind of of meetings are for free). way. We do not give them set material, a Once you have been book. They can find online open relevant

material and info, selected, Orange Grove will and they have a week offer you a wide selection to run over this of training material. if they have opportunities including a questions they can BOOTCAMP, seminars and workshops, which will help ask us during a you turn your idea into a meeting that we viable enterprise. settled with •You can attend lectures professional for FREE on subjects such practitioners as flexible working, branding, market research, personal accounting, procedures & legislation, intellectual rights, business ethics / integrity and receive help in drawing up or improving your business plan. •You can work on your personal skills: for example how do you present yourself and your idea and how does your character influence the realisation of your idea? •You can learn how to attract venture capital and what the possibilities are for public (national or European) funds. •The educational program will be offered by Orange Grove in cooperation with some renowned universities in this field

Is there a charge for the Yes there is a charge for The courses we are Yes, we have a charge to be course? If so how much? one to attend a course. offering are for free except a member of Orange Grove The cost ranges from 50 in the cases that we have and it is 100 euro each to 600 euro accordingly for long time workshops and month, each month. It is about 10 we must cover various We are also organising a lot euro per hour. expenses. Even in these of Open Events where we cases the participation fee informed the people through is symbolic. emails and facebook and they can attend for free.

Who is the course The course is delivered The course is delivered by The teaching staff is delivered by? E.g. mainly from a mix of speakers - volunteers and they are high- academics, entrepreneurs, as those academics and educated people. We have entrepreneurs, mix of people have extensive entrepreneurs or mix of speakers in our speakers experience, they know the academics that they also seminars. Orange Grove have an entrepreneurial cooperates with known facts and they can give career- according to the Universities such as the practical advices to young class and the help needed University of Amsterdam people. from young would-be (Amsterdam Centre for entrepreneurs. Entrepreneurship), the We are inviting a diverse University of Delft collection of speakers in (YES!Delft),the University of order to share with us and Wageningen (Startlife) and the participants their the Athens University for knowledge, their expertise Economics and Business. and experience. Do you deliver to We have mentoring and No we are not delivering to Yes we are delivering to individual entrepreneurs? coaching activities and individual entrepreneurs. individuals. We are offering If yes do you encourage thus we can arrange a We are delivering only in one to one sessions, any collaboration with one-to-one delivery if its teams. Even though our dedicated mentoring and others? needed but this is not courses are open to all coach, and ad hoc meetings people and they can with our network formalised. This is offered participate as individuals. professionals. mainly to individuals or We encourage the Also we are organising groups that already rent a collaboration with other activities where we give the space in our organisation. through the networking opportunity through several Furthermore, through the events we are organising, activities to people to meet several activities and where people have the each other and see if they events that we are opportunity to meet each can collaborate. organising, young people other, to discuss their have the opportunity to ideas, to exchange opinions meet each other, to and their thoughts. discuss their ideas, and of course we encourage EVENTS & ACTIVITIES them to collaborate and Open Showcase Nights: exchange services. Successful startups showcase their experience and results to early stage startups. We have hosted well known and successful startups such as Pinnatta, Dopios and BugSense.

Connect to Collaborate Young people meet to create virtual businesses and find out how good they are in entrepreneurship through emulator. 69

Is it possible to sit in on This is not possible as the NO NO any delivery or have a training material is copy of the programme continuously shaped and material/outline to gain a changed since it is up to more in-depth the trainer understanding of the training? Once a participant is No we are not offering an No, we are not offering an No, we are not offering an accepted on your amount of money for their amount of money for their amount of money for their programme, do you offer living and subsistence living and subsistence living and subsistence costs. him/her an amount of costs at this moment but it costs. We offer them space, As we have already money for his/her living is something that we services, internet, mentioned, Orange Grove is discuss to implement. As a exploitation, educational and subsistence costs? a co-working space which is co-working space, we are programmes, networking offering space, services, offering them space, activities and the possibility services, internet and to participate in great internet, education, and educational seminars. The events, where they have other supporting activities. rental prices vary the opportunity to meet key We offer to our participants’ accordingly. You pay one people. access to pitching funding. price. Rental is “All in” We have recently organised which includes WiFi, Coworking Services for a competition where the best electricity and cleaning. Startups start-up of Orange Grove can Extra services such as Amenities win up to 10 000 to 50 000 Telephony, Copying and Hospitality; Food court euro. printing are available too. space; Kitchen space; 90% of people in CUBE are Outdoor balcony; paying an amount per Receptionist; High-Speed month and the other 10% Internet; Scanner, fax, are people that they are printer, phone line; working on projects or Computer (on request); ideas of our interest and Email account; Online we invited them to work in secretary office; Daily back our place in order to help up; Projection screens, them develop their idea, to whiteboards (in the class link them with the market, rooms); Coffee and refreshments to disseminate their project. Supporting services Mentoring/coaching; Legal advices; Event management; Product management; Business development; Product marketing (on-line/offline); Consulting; Networking; Access to investors

Demand CUBE FOUND.ATION ORANGE GROVE

How many participants do you The minimum Accordingly, 30-40 88 start-ups, which have per course? number per course participants. The courses represent 142 entrepreneurs is 5 participants that are in total 30 hrs and all this people have during 6-7 days have 15-20 been through the participants and those programme. courses also have a small fee. Do STEM (Science, Yes Yes but in a small Yes Technology, Engineering, percentage Mathematics) PhD students/graduates participate in the entrepreneurship programmes that your organization implements? If yes, what do you see as the They do not know N/A special characteristics (or what is unique attributes) of these entrepreneurship participants? They do not have money Good program, networking They are doing their opportunities, focus on first entrepreneurial entrepreneurship in science steps later in life after their PhD and it is not their first option Do you require the We are asking for Our workshops directed Yes - the participants have entrepreneurs to complete any specific prerequisites towards beginners, thus we to fill the application form preparation before in order to be able inform the audience from and prepare a business commencing the course? one to attend a the beginning for the level canvas model in order to be course and we are and the target group of our accepted. Once they are giving them courses. Although accepted, they can follow all guidance for their participants must be the courses for free if they preparation. related to the object and think there are useful for Although it is their they must have a basic them. responsibility to be knowledge otherwise they prepared will not be able to attend. Our aim is to create a talent that will be ready to attempt by his own or to attempt though the company that he/she is working for.

Is there a There is not a selection process but No we do not have a Yes there is a selection selection process? we are able to select which one we selection process. Our process for the start-ups. If so please do not want to accept in our programmes and The members from our describe programme according to their past. activities are open to the sponsors and other We have a great network thus we participants of business professionals that FOUNDATION and also are doing a survey at the local they are an important part are open to the entire market, we are asking for them and of Orange Grove, they ecosystem. we get good indications and bad formed a selection indications. committee. We have vary of criteria, but the most important are: innovative ideas, below 40 years old because our aim is to help the youth unemployment and we believe that people that are inexperience are below 40. Is it open to Yes of course! At this moment we Yes if they would like to Yes others within our people from Russian, Italy, Sweden, be in Athens. We do not outside the EU? Moldavia, etc. have webinars etc Have you made The material is developed by each The curriculum is Yes- we adapted the any changes in the speaker accordingly. Although we adapted to the needs of curriculum to the needs of curriculum of the have a specific direction that we are the market and the the start-ups. For example courses? Why? following according to the needs of participants if we have a team the market and the aims that we dedicated to tourism we will want to succeed. make changes to our curriculum.

Successes CUBE FOUND.ATION ORANGE GROVE Of those that We are offering to them a space to We do not have those All of them, because there participate in the work and technical guidelines and data as we believe the are start-ups and they programme how courses. All of our members have system is still immature. need ot make money. many set up in raise the money they needed, they Up to this moment 85 business? have already started their business. START-UPS have passed from FOUND.ATION

What would you say We are helping people technically Wide network of partners We really try to focus on makes you different mainly through our courses and in the EU and international level because from other offerings? guidance and our aim is to select beyond we have the Dutch ideas and projects that they have Great Experience Embassy behind us. Thus value. Continuous participation we invite international We are not offering a fix mentoring in European and local speakers (US, Holland). We programme as each one that events have industrial flexible entered the CUBE is working also Organizing events with approach. We are trying to as mentor of all other members. great impact at local have more flexible and level with guests from customise approach to abroad everything. Participation in regional Unlike other incubators events and accelerators that give Implementation of focus on tech start-ups, we important initiatives accept teams from several industries. We have various start-ups from different sectors (fashion, tourism, agro culture). What do you feel are 1. Perseverance 1. Educational 1. Dedication the top three qualities 2. Flexibility background and 2. A Good idea to make a successful 3. Internal Discipline professional experience 3. Good Management entrepreneur? (short not extended) on Skills (good strategy the theme their working basically) on. 2. Coachable - listening skills 3.Pation Do you believe that YES Of course YES STEM PhD students/graduates are interested in participating in programmes that seek to stimulate their entrepreneurial mind-set? What other priorities Entrepreneurial Mindset Entrepreneurial Mindset do you believe they have that could be addressed through an educational programme? Innovation, research

What special training Business attitude, business builders needs do you believe in order to develop to them the STEM participants entrepreneurial mindset have that we need to pay particular Entrepreneurial knowledge attention to when designing our own educational programme? Based on your Opportunity size, Pitching skills, Communication, experience, which Raising finance, Negotiations,, Legal Oitching, Go to market skills, or special activities, Management of failure, and where it feeds, knowledge, should we failure recognition Entrepreneurial MindseT, Business courses, Pitching, emphasize and seek Accounting and finance, Entrepreneurial mindset, to develop when Promotion, Presentation skills, creating our teamworking, Feasibility educational study, Marketing, programme networking specifically for STEM PhD students/graduates?

Improvements CUBE FOUND.ATION ORANGE GROVE What We would like to be funded enough Call of investors from Give financial support and improvements in order to be able to have people in abroad in our country for funding to our start-ups. would you make to my organisation that can help young financial support of the service if there would-be entrepreneurs. startups. were no limits? Give funding to start-ups in order to help them to start. Extensive networking that will help the ecosystem to utilise its resources.

If the EU could do EU has to change its mentality Give access to EU needs Funding is a very important more to improve Open Funds analysis reports and best issue to start-ups. entrepreneurship Open communicational channel practices. what would this Educational trainings for values and Simplification of the law look like? business ethics, accountability, etc. for the registration of Simplicity start-ups Invest in new ideas Simplification of the law Open discussions for the angel investing

What do you feel is The main barrier to Fear of failure Funding the main barrier to entrepreneurship is the Small market Lack of funding The Find access to capital Lack entrepreneurship? lack of a market which of success stories as an can absorb an idea The example to them fact that young people Lack of skill developers have a safety net The lack of openness What would you say are the most common mistakes made by young entrepreneurs in general?

How can we take - - - this into account when developing our own educational programme?

Where do you see a Funding needs Funding needs Go Funding needs gap in existing Go to market to market Go to market entrepreneurship Attitude Attitude programmes?

Partnership CUBE FOUND.ATION Orange Grove Do you currently Germany Yes - We are involved as a Yes. We work with Dutch work with any EU Holland company in EU projects, Universities and Sponsors. partners? - if so Belgium thus we have partners please provide info UK from EU France Best practices change Do you work with USA, Australia, etc. Yes - Turkey Not specifically with groups any partners but we are working with outside of the EU? - individuals as we bring over if so please add speakers. details

Would your Yes Yes Yes organization be interested in offering a preaccelerator programme for STEM PhD participants once such an educational

Copenhagen School of Copenhagen Business Danish Foundation for Entrepreneurship (CSE) School (CBS)/DENMARK) Entrepreneurship (DFE) which is an active member of the Address: Solbjerg Pl. 3, international organisation Junior Porcelænshaven 26, 2. 2000 Frederiksberg, Name of company Achievement (JA). JA is a non- floor Denmark profit organisation with the 2000 Frederiksberg C Enrollment: 18,038 (2011) purpose of strengthening Phone: +45 38 15 38 15 innovation and entrepreneurship +45 3815 3646 Founded: 1917 among students and young persons programme has been developed by our project team?

Mostly public with some Government funded with Split. The Foundation is financed private sponsorships. some private sponsorships through a mix of governmental and private funds. Our annual budget is about 7 mill.euros.The private funds come from a range of different sponsorships covering How the many different parts of the organization is business sector. As a small funded: company or private individual you private/public can contribute to the good cause split? by giving your time, for instance, as a judge at one of the Foundation’s competitions for children and young people. As a large business you can make a sponsorship agreement or a special activity sponsorship with the Foundation. 76

Mixed incubator and Business School but with The main responsibility of our accelerator.CSE is the a wing(CSE) providing Foundation is to allocate funding largest student incubator incubator and accelerator for the further development of in Denmark. facilities . entrepreneurship education with a focus on innovation and entrepreneurship teaching at all levels of Danish education system. The Danish Foundation for Entrepreneurship - Young Enterprise is Denmark’s central knowledge center and focal point for the development of entrepreneurship teaching at all educational levels in that country. The primary objective of the How the Foundation is to promote and organization stimulate innovation and identifies itself: entrepreneurship at all levels of science/technology educational institutions in Denmark park, incubator, from primary schools to P.hd. , accelerator etc.? under the slogan from ABC to PhD . Its major objective is to increase the number of pupils, students and teachers involved in innovation or entrepreneurship-related activities. The goal is that entrepreneurship should be on the table in primary and secondary education, and that it must be in the curricula of higher education so that in future we will have trained more innovative business leaders and employees. In this regard the Kauffman Foundation in USA has, among other things, been the inspiration

for the creation and operation of our Organization. Whether it works with higher education institutions (HEIs) and/or other It works with all levels of education ‘partners’? Yes extensively. Yes it works with both. in Denmark from ABC TO Phd.

The CSE Academia The CBS cooperates with The Foundation Department is responsible the other Copenhagen allocates entrepreneurship funding for a cross-disciplinary universities (mainly DTU for the further development of project between 3 famous and Copenhagen Uni) in entrepreneurship education with a Danish Universities: CBS, offering courses where focus on innovation and different academic DTU (Technical Uni of entrepreneurship teaching at all backgrounds go together to Denmark) and KU levels of Danish education system, develop innovations out of (University of including HEIs. Copenhagen) where science and business skills. Most prominent is the CIEL teachers from the three scheme, where the three universities through institutions organize courses and workshops common courses in integrate entrepreneurship innovative and into their own curriculum entrepreneurial subjects, through action-based but also the Bio-Business learning and collaborative Entrepreneurship Masters network-thinking. program and a few courses Furthermore Academia involving Technical creates ECTS courses and University faculty and If it works with summer schools in students are in operation. HEIs and other entrepreneurship for Such cross discipline partners, in what student across the three cooperation demands way? universities in the capital energetic and flexible region students, and in return the participants gain insights that cannot be won in the usual curricula. Furthermore, CBS welcomes around 1200 exchange students per year from our partners round the world, as well as a few free-movers from nonpartner universities. CBS has been engaged in student mobility for decades and has a large number of partner universities all over the world (including LSE, WARWICK from UK and COLUMBIA, BOSTON, NEW YORK, CORNELL,BOSTON from USA). We in turn send over 1,100 students to study at partner universities every year.

Does it focus on It works with all sections working with and all client groups specific client provided their ideas are groups or innovative and with good particular sectors? prospects of No. We are covering many different commercialization. No parts of the business sector. How many staff it CSE is part of Copenhagen CBS has 750 permanent has. Business School (CBS) academic staff, 700 .Key CBS figures: 21,000 parttime academic staff and students (of which 3,600 1,500 employees. foreign students and 250 Ph.Ds.), 750 permanent academic staff and 700 part-time academic staff. Over and above its basic administrative personnel, CSE has its own professional staff of 10 permanent experienced entrepreneurship consultants and 17 mentors, experts in The Foundation employs a entrepreneurship. permanent staff of 30 people (key Furthermore it cooperates persons and administrative with a number of external employees) and about 10 partners professional volunteers and (domestic and foreign) . advisers.

DELIVERY Copenhagen School of Copenhagen Business Danish Foundation for Entrepreneurship (CSE) School (CBS)/DENMARK Entrepreneurship (DFE) How is your We provide entrepreneurship entrepreneurship financing programme delivered to eligible Danish online/face to educational institutions as well as to individual face/combination or Mostly face to face in Mostly face to face in innovative students both/other? workshops attended by classrooms and workshops. through the following multidisciplinary teams. Online provision is means: We have 2 types of On-line programme available for some of the financial assistance we can courses options are also available. give to eligible applicants: (1)Project Funding direct to Danish Educational Institutions

In this case to ensure anchorage of the project the applicant must represent a school or educational institution. That is, a private individual or business cannot receive funding for a project, unless this takes place in cooperation with an accredited educational institution in Denmark. Funding, of the order of 15,000 Euros per approved course, is given to projects with the purpose of, for instance, giving teachers and lecturers a further or continuing education within entrepreneurship education, developing new educational programmes that strengthen young people’s innovative and entrepreneurial competences, or developing new entrepreneurship teaching material. The selection criteria applied by us are very strict and only the best projects are approved for financial assistance. (2)Micro Grants direct to students, especially to Stem P.hd students. In this case The Danish Foundation for Entrepreneurship - Young Enterprise supports financially students with good ideas with great potential in order to promote entrepreneurship/selfemployment as a career path. All students enrolled at an upper secondary education or higher education institution in Denmark can apply for a Micro Grant. In order to

apply they must have an innovative business idea . This idea may be at the idea stage or perhaps the student has already established a start-up company with a sales volume however of less 8000 euros. We apply a strict selection process and only the best cases are financed. We extend two types of grants directly to students wishing to become entrepreneurs: -Micro Grants for students with an eligible innovative idea in the early stage. Here the student, including a Ph.D. Stem student, can apply for a grant between 1500 – 3000 Euros to cover the costs of their final research related activities just before setting up their start-up. -Micro Grants for students who have just established their first Company in Denmark. Here the student can apply for a grant between 4500 – 7000 euros in order for their business to mature and achieve growth. This Micro Grant however requires 25% of the amount in self- cofinancing. The above 2 categories of grants should be used for covering the following student specific expenses which do not include accommodation/out of pocket expenses: Prototyping, Market

Research, Pilot tests - eg. Equipment rental or purchase of reagents,

Consultations, advice and mentoring, Programming What is the duration of the Our incubator programme CBS offers the following programme and how lasts 9 months and our main degrees: frequently are they accelerator programme 3-year Bachelor (BA)) “Go -Grow “lasts 6 months. 2-year Master (M.Sc) delivered? N/A We also have summer 1-year MBA entrepreneurship courses, 3-year PhD tailor made based on demand, lasting 2 months

How is delivery structured Normally about 6-8 hours Depending on the subject e.g. number of hours per per day but structure is /course/year of study, the day? adjusted according to delivery is structured special events. accordingly. N/A

Is the programme French ratings agency accredited? If yes please Eduniversal ranked provide details? Copenhagen Business School the #1 business school in the world in 2014, followed by London Business School and Harvard Business School. Copenhagen Business School was also awarded a 5 Palmes rating, as one of 100 Universal Business Schools with Major International Influence. In May 2015, Copenhagen Business School has been We have the same high ranked as the best school Approval by certain accreditation as in the Nordic countries for Government Ministries Copenhagen Business business and management should be obtained for all School (see separate courses by the worldwide types of financial university rankings guide spread sheet) assistance we extend. QS, and as the sixth best in Europe. CBS came in ahead of the highestranking institutions in the other Nordic countries – BI Norwegian Business School (20th), Aalto University in Helsinki (18th) and Stockholm School of Economics (16th) – and also surpassed some of the most prestigious institutions in other European countries, such as the University of Cambridge (8th) and HEC

Paris School of Management (7th).

Do you provide any Continuous “after sale” support following the services are provided to course – if so what? all CSE Alumnis provided they become members to tth CSE Alumni club. The CSE Alumni club is the exclusive club for all the CSE companies that have completed the CSE Program successfully and comprises more than half CBS students of the total CSE startups. with excellent academic As a member of the CSE merits and with innovative Alumni Club, you will be business ideas are part of a great network accepted by our student with the following perks: incubator(CSE) for =Invitation to future CSE developing further and events commercializing those -Continuous access to ideas. Podio, CSE advisors and partners -Access to office space and meeting rooms at CSE from 5-10 pm and during weekends and summer time. - Alumnis’ new interns can also use of all CSE’s office and facilities. N/A Is there a charge for the There is no charge for the course? If so how much? BA degrees. There is a There is no charge for the charge for the higher course. Use of CSE degrees for which some facilities by eligible scholarships are offered by participants is free. CBS. N/A Who is the programme A mixture of those. delivered by? E.g. A mixture of those. academics, entrepreneurs, mix of speakers N/A Do you deliver to individual Yes we do deliver to entrepreneurs? If yes do individual entrepreneurs in This is done by our CSE. you encourage any collaboration with their collaboration with others? Associations and CBS. Please see above.

Is it possible to sit in on any delivery or have a copy of the programme material/outline to gain a more in-depth understanding of the training? Yes it is possible. No N/A Once a participant is No pocket money given. No. Our funding is of a accepted on your Only office and other limited nature. We cannot programme, do you offer facilities provided for free. therefore afford the him/her an amount of financing of such student money for his/her living expenses. and subsistence costs? NO

DEMAND Copenhagen School of Copenhagen Business Danish Foundation for

Entrepreneurship (CSE) School (CBS)/DENMARK Entrepreneurship (DFE)

How many participants do At any one academic year you have per course? CBS has 21,000 students The beneficiaries of our (of which 3,600 foreign funding are 38,709 students and 250 students (including several P.hds).My BA class in STEM students ) in 881 entrepreneurship has 50 Danish schools of all levels students. Demand for CBS and universities (including courses and degrees from STEM universities).The domestic, European and Foundation also develops non-European students is very high every year. In and publishes its own 2014 we had 8,000 educational material, applications for our advises on the In our incubator postgraduate degrees from implementation of programme we take about eligible students worldwide entrepreneurship in 100-125 participants and in but only the very best teaching, and facilitates our accelerator program (about 3,200) could be the cooperation and much fewer (about 30 admitted. Excessive networking about surplus demand is entrepreneurship observed every year in all education. The applications CBS courses and submitted every year to programmes which unfortunately cannot be the Foundation for funding met because of those new entrepreneurship constraints. They are programmes at school beyond our control. exceeds by far our Rejected eligible applicants available financial with bright qualifications resources and this is a and academic merits have serious problem we are bitter complaints against constantly facing. CBS every year. Do STEM (Science, We have a very active Technology, Engineering, participation from such Mathematics) PhD students due to special partnership agreements students/graduates Yes they benefit from our participate in the with the 2 STEM Yes they do. universities of Copenhagen funding in several ways. entrepreneurship : the Danish Technical programmes that your University specializing in organization implements? bio/life sciences fields and

the University of Copenhagen specializing mostly in engineering and mathematics. Students from those universities as well as students from other foreign STEM universities form multidisciplinary teams with CBS students.

If yes, what do you see as At the Foundation great the special characteristics emphasis and priority is (or unique attributes) of given to providing these participants? entrepreneurship education to STEM PhD students. This is so because it is generally acknowledged that those students have the most innovative ideas. They are the inventors. But they are not equipped with the following essential prerequisites for establishing and sustaining STEM PhDs, generally a successful business acknowledged as the best startup: brains, inventors and - First and foremost marketing skill and innovators are found to be Knowledge, especially the lacking in soft and Key They are very strong in need to test their entrepreneurship skills their specialized STEM products/services with which are absolutely fields but weak in soft and potential clients before necessary for the success entrepreneurial skills. they put them into the of any start-up or any market business. CSE programmes -Legal and financial skills supply them with all those not only on how to set-up crucial skills. a start-up company but also on how to run it efficiently based on the philosophy of lean startup. - Dealing with other people/soft skills. Working intensively in the 4 walls of their laboratories will not make them good entrepreneurs even if they achieve to make the greatest invention. Before they become entrepreneurs and commercialize their

research it is highly advisable that one way or the other they should join a multidisciplinary business team. That is a team composed of members with varied but complimentary experience, qualifications, and skills (in accounting, finance, marketing ,management ,entrepreneurial skills etc.) that contribute to the achievement of the team’s common business objectives. In Denmark such Ph.D. Stem students are assisted to fill extensively those gaps in entrepreneurship in various ways ,directly or indirectly with the involvement of our Foundation: (i)Before they finish their degrees, by taking entrepreneurship subjects in their own Universities or at other Scandinavian Business Schools (primarily CBS Denmark and LUND Centre for Entrepreneurship, Sweden) after special arrangements. Almost all these entrepreneurship subjects, besides theoretical coverage provide for the following entrepreneurship related tools: workshops, one to one mentoring, frequent presentations by successful serial entrepreneurs/best practice examples, multifunctional teams of students(local and international),ways and means of and setting - running of a start-up. 91

Extensive networking with local and international

entrepreneurship students is also thereby achieved by all members of such programs/teams which is highly beneficial for potential young entrepreneurs wishing to commercialize their ideas in the European or international market. (ii)For those Stem Ph.D. students who have completed their degrees and wish to commercialize their ideas and become entrepreneurs, Denmark is famous internationally for its unique Incubators/Accelerators. The best known are the Copenhagen School of Enterprise (essentially an extension of CBS) and Startupbootcamp (international accelerator with a branch at Copenhagen).Such incubators/accelerators over and above the aforementioned services/entrepreneurial skills and tools also provide office facilities and assist young entrepreneurs with good ideas with prospects to obtain finance for the purpose of commercializing those ideas, preferably through the creation of new companies with cofounders of different skills/capabilities. Do you require the entrepreneurs to complete No No N/A any preparation before commencing the course?

Is there a selection For our incubator CBS admission criteria for process? If so please programme there is a strict all degrees are very strict Only the most innovative describe. selection process called and only students with the educational and training “proof of concept” during best secondary/tertiary programmes are financed which applicants must accredited examination by us. prove the grades are accepted. CBS

commercialization has had to introduce prospects of their quantitative limits for most innovative idea before of its degree courses, for being accepted. Go Grow is reasons of limited financial, open to startups from all space and other resources. sectors and markets. We do not have any requirements regarding sectors or market and we hope to get applicants from both IT focused startups and product oriented startups working within a broad range of market. We are open to student entrepreneurs and entrepreneurs who are not in university. To be accepted in the Go Grow programme, proposed startups must have potential for international growth. Further, the startup has to be at a stage where it has already generated its first sales. Go GROW is intended for high- potential startups cofounded by crossdisciplinary teams. A big number of qualified youths with innovative ideas/multidisciplinary teams apply every year to CSE for the Go Grow program .However because of limited capacity CSE has no option but to say no and reject the great majority of those applications based on its strict admissions criteria .Only the best innovative ideas with international growth potential can be approved(about 30 participants per programme of which 50% CBS students and the rest

other applicants ,including international).

Is it open to others within Yes it is open to both Yes, for details please see This a National initiative: or outside the EU? section six (partnerships) for Danish students only below. although we encourage exchange programmes with foreign students. Have you made any CSE is constantly making All CBS curriculum changes in the curriculum such changes in the light of We are constantly making programmes are reviewed of the courses? Why? its experiences, taking improvements in the light of very often and changes are always into account best our experiences. made accordingly. practices applied globally.

SUCCESSES Copenhagen School of Copenhagen Business Danish Foundation for Entrepreneurship (CSE) School (CBS)/DENMARK Entrepreneurship (DFE) Of those that participate in Since its start of operation Based on a recent survey, the programme how many in 2008 , CSE as an over 29% of the set up in business? incubator has contributed entrepreneurship students to the establishment of and over 11% of the about 500 start-ups ordinary students in (mostly in the technology, Denmark are actively trying consultancy and finance to start up a new business. sectors). Our accelerator Go Grow These are very high levels had its own successes Please see the relative for both of the groups .Despite the fact that the performance and compared to the total Go Grow program has only successes of our CSE population of the country, been open since the incubator/accelerator on where this share is only beginning of 2014, and the this matter (separate entry 2.7%. Our Foundation fact that only 23 applicants on the spreadsheet) contributed substantially were applicants were towards this positive accepted, about 5 of the differentiation. In the participating entrepreneurs Foundation we are and their startups from determined to extend and CBS Go Grow programme stimulate Entrepreneurship are doing very well in the in Education even further. international markets ,experiencing increased sales and publicity.

What would you say makes 1.The close co-operation While we teach the theory The Foundation defines you different from other of CBS students ( good in of entrepreneurship and entrepreneurship somehow offerings? entrepreneurship and soft the work of the best different from what others skills) with students of authors on this subject we define it For us STEM universities (good in do not stop there. We go a Entrepreneurship is when technical/lifescience/maths step further by guiding and you act upon opportunities fields but lacking instructing our students and ideas and transform entrepreneurial skills) how to put this theory into them into value for others. through multidisciplinary practice. What makes us The value that is created CSE teams ,out of which different from other can be financial, cultural, promising start –up Business Schools is our or social .For us, being companies are born.2.One focus on putting theory entrepreneurial means not

to one mentorship offered into practice, from Lab to only developing ideas but to participants from very the market place.It should above all putting them into experienced mentors.3.We also be stressed that our practice by focus on putting theory student exchange commercializing them. into practice and ideas programs and partnerships Studies show that students with numerous renowned from lab to the market. who participate in universities of the world entrepreneurship (see below) is another of education experience an our unique features, increasing desire to stimulating networking become an entrepreneur. and the formation of Children doing multidisciplinary teams entrepreneurship lessons with local and international in primary school are more students catered by the likely of going to higher best academics and school and this increases mentors in the world the likelihood that they will attracted here by the get a high school diploma courses, entrepreneurship or graduate from a programmes, networking vocational training opportunities and ranking institution. Pupils and of CBS. These are the students alike initiate more things which make us activities outside their different from other school and studies – some Business Schools. of them even start their own companies – if they have received entrepreneurship education and training. The likelihood of starting a company is three times as high for individuals who have achieved entrepreneurship skills and competences than for those who have not. This is why we try desperately to promote entrepreneurship at school. This is what makes our offering different from other stakeholders attempting to stimulate entrepreneurship in general.

What do you feel are the 1. Identifying customers’ Top 3 qualities of a top three qualities to make needs and size of that successful entrepreneur: • a successful entrepreneur? We are of the same market.2.If market size 1. One who gets feedback philosophy as CBS on this justifies the setup of a new from his/her issue(see separate CBS business, produce a good customers on a constant spreadsheet) or service satisfying those basis, adjusting needs to the biggest quickly his/her products or extent possible.3.Follow services accordingly.

the philosophy of lean start Always being ahead of the up by satisfying those competition in this matter. needs with the lowest • 2.One who satisfies possible operational cost. changing customer demands with the lowest possible operational costs in line of the lean start up philosophy /methodology and • 3. One who widens his/her networking with influential decision makers affecting the success or failure of his/her business, on a continuous basis. Do you believe that STEM PhD students/graduates are interested in We have no doubt about We have no doubt about participating in Yes definitely. that that programmes that seek to stimulate their entrepreneurial mind-set? What other priorities do Some other special Please see CSE They need to strengthen you believe they have that priorities of those Phds are: answer for this . their entrepreneurial skills. could be addressed tailor made programmes Especially they have to fill through an educational for their specific sector i.e their big gaps in finance, programme? studying in depth their own marketing /customer dynamic target market, approaches and legal strategic alliances, means issues, all crucial for any of financing their product company sustained development stage which success. In parallel with for some sectors might be filling those gaps they huge(e.g should learn basic soft developing/testing a new skills such as working medicine). harmoniously in teams and key leadership qualities.

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What special training Soft skills (dealing with Please also see CSE needs do you believe people/working answer for this. STEM participants have harmoniously in that we need to pay multidisciplinary teams) particular attention to and entrepreneurial skills when designing our own with emphasis on modern educational programme? marketing, finance, commercial/intellectual property protection Law and Key leadership skills. N/A Based on your experience, Please also see CSE All the above skills plus which skills, or special answer for this. skills necessary for their knowledge, should we own specialized STEM emphasize and seek to sector: e.g how to make develop when creating our The above skills just strategic alliances with educational programme mentioned. others(including investors), specifically for STEM PhD financing and marketing students/graduates? strategies for Bio companies, negotiation skills etc.

IMPROVEMENTS Copenhagen School of Copenhagen Business Danish Foundation for Entrepreneurship (CSE) School (CBS)/DENMARK Entrepreneurship (DFE) What improvements would Promote further you make to your service if entrepreneurship in there were no limits? education by such measures as training a lot more teachers in key entrepreneurial issues so that they are enabled , in More funds, office and If there were no limits, turn, to stimulate other facilities to more students would be entrepreneurial drive and accommodate more accepted in all our degrees mind set in educational participants ,especially in by hiring more lecturers institutions. Of equal the Go Grow accelerator and extending our importance is the provision programme. buildings/other facilities. of much more soft finance and seed capital to both innovative students and educational institutions in Denmark, eager to strengthen their entrepreneurship programs but presently unable to do

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so for lack of financial and other basic resources.

If the EU could do more to (1)Above all they should 1. Increased budget for improve entrepreneurship promote and improve entrepreneurship in what would this look like? drastically education.2.Make entrepreneurship in entrepreneurship a education through more compulsory curriculum funding or otherwise, subject at all educational starting at the lowest levels. 3.Increased possible level (primary financing to promising schools or even before young entrepreneurs with Pls see CSE answer on this those).Of crucial bright innovative issue importance is the proper ideas.4.Change bankruptcy training of a great number laws in all EU nations so of entrepreneurship that a second chance is teachers for which given to young presently there is an acute entrepreneurs who fail in shortage. (2)Also EU their first attempt to join should assist further young the business world. entrepreneurs with innovative ideas by

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providing them with much more non-returnable grants and seed capital (3) Enforce uniform Single market rules ,regulations ,IPR protection Laws and improved second chance legislation to bankrupt entrepreneurs, in all EU member nations.,

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What do you feel is the In our opinion, the biggest main barrier to barriers to entrepreneurship? entrepreneurship are the following: 1.Acute shortage of suitable teachers with business experience is the biggest barrier to entrepreneurship in education. For this reason our Foundation in close collaboration with the Danish Universities(including Copenhagen Business School and Danish Technical University) have already launched an intensive training program for 1,000 entrepreneurship teachers all over the 1. Access to finance. 2. country covering: primary Pls see CSE answer on this Aversion to risk 3. schools, secondary issue Recession in the economy. schools, vocational schools and tertiary educational institutions. 2. Secondly the unwillingness of young people to take risks. Our Foundation advises educational institutions to teach students how to take calculated risks by studying in depth the market and customer changing needs and demands before they embark on any business investments. Untested ideas by themselves, however innovative or bright, are not sufficient for starting a business. Also start-ups founded by multidisciplinary teams

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rather than an individual have a much better chance of success in the market. 3.Finally the unwillingness of banks to finance start-ups which they consider as very high risk against which young entrepreneurs are not willing or able to offer satisfactory tangible collaterals to banks. We are of the opinion that EU must make available more soft loans and seed capital to young entrepreneurs with bright innovative ideas and viable projects.

What would you say are Most common mistakes of the most common mistakes young entrepreneurs: made by young 1. To set up a start- entrepreneurs in general? up for the purpose of commercializing an idea 1. Starting a business without the prior testing of without studying first their their target market and target market or get without due feedback from feedback from their target their potential clients. customers. 2.Thinking that 2. Relying on their their skills and only (be own skills only (technical or Pls see CSE answer on this they financial or marketing financial or marketing) issue or technical) is sufficient without considering the for the success of their usefulness of basic new enterprise. Business complementary business success presupposes skills they do not possess. multidisciplinary skills. Successful entrepreneurs 3.Weak networking horizon. had to rely on the skills and experiences of others at least at their initial business attempts.3.Being overoptimistic about their future volume of business.

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How can we take this into Design courses and account when developing programmes to tackle those Developing tailor made Develop educational and our own educational issues, preferably based on programs based on best training programmes which programme? best practice examples practice examples drawing encourage participants to from successful only on CBS courses and work in multidisciplinary entrepreneurship programmes. teams. programmes across the world. Where do you see a gap in They focus on the profitable Pls see CSE answer on this As far as entrepreneurship existing entrepreneurship growth of issue in education is concerned programmes? existing enterprises the acute shortage of ,ignoring how to set up suitable teachers , and sustain a new start up. able to teach Also they are too entrepreneurship properly theoretical taking place in and effectively. This is a common classes .More big gap constraining workshops, real case progress in studies , competitions, entrepreneurship at school. mentorship and interaction For entrepreneurship in with serial entrepreneurs general European should be incorporated in entrepreneurs are facing such programmes which, serious problems in additionally, should accessing finance, stimulate cooperation of especially young participants in entrepreneurs, finishing multidisciplinary teams. college or university. PARTNERSHIP Copenhagen School of Copenhagen Business Danish Foundation for Entrepreneurship (CSE) School (CBS)/DENMARK Entrepreneurship (DFE)

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Do you currently work with Being part of CBS,CSE any EU partners? – if so makes full use of CBS’s EU please provide info and Non EU partners. CBS CBS welcomes around welcomes around 1200 1200 exchange students exchange students per per year from our partners Our main partner: Our year from our partners round the world, as well as Foundation is an active round the world, as well as a few free-movers from member of the a few free-movers from non-partner universities. international organisation non-partner universities. CBS has been engaged in Junior Achievement (JA). CBS has been engaged in student mobility for JA is a non-profit student mobility for decades and has a large organisation with the decades and has a veery number of partner purpose of strengthening big number of partner universities all over the young people’s universities all over the world (including LSE, competences in world (including LSE, WARWICK from UK and selfemployment, innovation WARWICK from UK and COLUMBIA, BOSTON, NEW and entrepreneurship. JAYE COLUMBIA, BOSTON, NEW YORK, CORNELL, BOSTON Europe empowers over YORK, CORNELL,BOSTON from USA). We send over 3.2 million students in 39 from USA). We also over 1,100 students to study at countries (including 1,100 students and CSE partner universities every Denmark) with the help of programme participants to year. 146,831 teachers and study and train at partner 165,630 business universities every year. volunteers. Do you work with any partners outside of the EU? Yes see above Yes see above Yes see above – if so please add details Would your organization Yes we would welcome We would be very much be interested in offering a such an initiative and we interested to consider Certainly. Please inform us pre-accelerator programme are looking forward in offering pre-accelerator accordingly once you are for STEM PhD participants cooperating with you on programme to STEM PhDs ready. once such an educational this matter when you are once such an educational programme has been ready. programme has been developed by our project developed by your team team?

Name of company H-Farm Italy TRENTINO Gemini Solutions ASE StartUP Incubator de SVILUPO ITALY Foundry Afaceri How the organization Private Local government 100% private mixed funding: EU funding,

EU VISIT BY EUC

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is funded: plus privately state from ASE, private (from private/public split? sponsoring companies) How the organization Accelerator Sustainable flexible accelerator, business incubator identifies itself: development of the customised on the science/technology area needs of the park, incubator, companies it accelerator etc.? provides funding to It does, A number of no, but with their Yes, with the Academy of Whether it works with currently partners academic experts Economic Studies Bucharest higher education there are 9 and other institutions institutions (HEIs) partners /incubators form abroad, the and/or other ministry in charge, Romaniani ‘partners’? Busienss Leaders Association, funding companies, banks. Provides Provides hi-tech no HEI partnership, co-working space, training and labs, targeted only within partnership, working with the other training, consulting seminars student's associations within If it works with HEIs relevant ASE, offering financing and other partners, in support what way?

Does it focus on Mainly Tourism, exporting, IT field only yes, any ASE graduates and working with specific internet entrepreneurship, students, alumni in the client groups or based start hi tech products business area mainly, but no particular sectors? ups preferential sector. How many staff it has. 450 132 GSF can have 450 access to the group experts, who has over 100 people

DELIVERY ASE StartUP TRENTINO Gemini Solutions H-Farm Italy Incubator de SVILUPO ITALY Foundry Afaceri

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How is the course The course is mainly The course is The training face to face only, delivered delivered face to face, mainly delivered course is maybe from next online/face to although other means (e.g. face to face, customised to the year online hybrid face/combination or e-mail and other electronic although other needs of each course on the both/other. communications’ modes) means (e.g. e-mail potential startup website or a are also used to facilitate and other electronic and it is always communication learning. An estimate of communications’ face to face. platform for video 70% is done face-to-face modes) are also streaming, etc. with other methods taking used to facilitate up the rest. By definition, learning. Commonly because there are, for they are in the form instance, mentors from of seminars, but world renowned institutions webinars have

or organisations (e.g. also been held. Stanford University, Apple Computer Inc., etc.), other digital methods (e.g. Skype etc.) are used to learn/discuss/communicate. What is the Generally, there are 2 Courses’ duration it depends how 40 hours of training duration of the months of workshops and varies, because the advanced is the for a group of 400 course and how mentoring. That is followed organisation works knowledge of each people per year by frequently are they by 1 month of ‘tutoring’, in a much startup, GSF 4 hours a day in delivered? which culminates in customized way. responds to the the weekends for finetuning the product and, Course titles, startup needs the entire year. ultimately, presenting it to content, delivery a panel of experts and mode are potential investors. The dependent on the equity share is 10%, and group the investment funds tend requirements, to be 80,000 euros. rather than being pre-set curricula. How is the delivery It depends on the training. The specific it could be 40 hours of structured e.g It is about 3 or 4 hours of accelerator intensive or in the training: by 4 hours number of hours training / workshops per programs, areas the startup a day in the per day day, although group work conducted in needs advice, like weekends for the etc. continues beyond that. association (‘Joint the technical part entire year, till it This is for a total duration Venture’ – see JV, related to the reaches 40h in of 10 (minimum) to 12 below) with a product total. weeks. specialist firm, have development, the taken as long as 6 legal aspects, the months to accounting part, complete. Other which is done with trainings last half the team of that or less. 109

inhouse experts or collaborators

Is the course The ‘loop’ closes with a No, there has been GSF is 1 year old, Yes ANC accredited accredited? If yes ‘classic’ demo night in no necessity to no accreditation by Agentia please provide which the finalists present structure the for its activity Nationala de details their ideas. After all this, courses. Cercetare (National that is during the 4th Agency for month, the ‘winners’ talk Research). and make arrangements (practical, legal etc.) with investors. Do you provide any Follow ups are generally 1 Varies. A recent Support is given No fee, only a 200 support following meeting per week EU-wide contest for through the RON facility to the course – if so innovators, in which incubator The each one attending what? Sviluppo was Family ( from the course, collaborating France- Paris), the maximum 2500 (referred to as a mother company RON, according to ‘joint venture’), had from U.S. provides this EU funded an award of up to the business project. €40,000 for the model. winner. ‘Matching

funds’ (a combination of public and private funds) can help support business start-ups and enhances competitiveness of Trentino.

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Is there a charge Courses are delivered free In one phase, No charge per No. for the course? If of charge. TechPeaks (the JV course, but when so how much? partner), awarded the programme for €25,000 to the training is presentation accepted there is a (‘pitch’) winner, plus split of profits that offered alumni come out from the (graduates of the activity of the programme) up to startup. €200,000 in ‘matching funds’ (see above). Who is the course It depends on the courses. Courses are There is a mix of Mix , academics, delivered by? E.g. A rough estimate is that it delivered by in-house experts entrepreneurs, academics, is 30% academicians and experts in the very on the attorneys, entrepreneurs, mix 70% entrepreneurs. In any specific fields, technicalities of accountants, of speakers case, emphasis is placed on these being usually the product trainers in sales practical issues and real ‘niche’ topics, which development and and end results. require precise other experts form communication. knowledge. These the industry, experts can be a academics, and combination of consultants. trainers. Do you deliver to Teams are necessary, the Teams are The training is Groups of 20 individual underlying belief being that encouraged, but focused on the students, yes entrepreneurs? If in today’s complex world it sometimes team of partners collaborating yes do you is very hard if not individuals (e.g. rather than the between them and encourage any impossible for an individual with a business individuals among them, to go it alone. Sometimes, proposition of their collaboration with establishing later individuals are brought in own) are ‘allowed’ others? on commercial alone, but on the to go it alone. relationships understanding that they Training – will then form teams during consultation, the initial process of however, is often training. administered to already existing firms (and teams of individuals from them) who are looking to go to the ‘next level’ (exporting, use of specific technologies etc.)

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Is it possible to sit NO Yes, for the Yes a summary in on any delivery Foundry copy of the course or have a copy of Conferences which structure. the training material are annual, the /outline to gain GSF Talks, more indepth discussions, there understanding of is no written the training? material in this respect. Once a participant Yes. Out of that 80,000 NO no cash offered , Grant of 25,000 gets accepted in total, 10,000 to 15,000 is only service euro per startup, your course, do you given as cash. And, all offering. plus 200 RON for offer him/her an subsistence costs each course student amount of money (accommodation, food) are or follower, 16% for his/her living and covered by H-Farm. VAT. subsistence costs?

DEMAND H-Farm Italy TRENTINO SVILUPO Gemini Solutions ASE StartUP Incubator ITALY Foundry de Afaceri Tell me about the Very high, Programmes offered The area of deman The course is dedicated demand for your oversubscribed and agreed with is IT, the theme of to students, graduates, programme? tenfold. Still they companies or the training postgraduates of ASE. would prefer more industries locall, so services are: For those wanting more and higher quality there's a balance product, technical ( from life. applications in house), financing, legal ( outsourced), MVP ( mission viable product), intellectual property rights, fine-tuning their responses Do STEM ( Science, Not specifically Not specifically yes, graduates Mostly business Technology, from Computer students, but they are Engineering, Science, MSc. open to these fields Mathematics) Ph.D. Computers, not so also. students/graduates many Ph.Ds. participate?

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If yes, what do you they look for the They have research skills see as the special business part highly developed. characteristics (or missing from their They want! unique attributes) of skills these participants? How many Varies, but It depends. But it is it is highly 400 participants do you generally it is 37-45 generally 15-20 customised, have per course? people per individuals. These dedicated to each program. Teams are derived from startup team are usually made up participating local by up to 4 people, (or other) often having companies or from different sets of individuals with skills. E.g. technical entrepreneurial and computers, orientations. For marketing, etc. these courses there are fully equipped areas (projectors, wifi, interpretation facilities etc.)There are many types of meeting/training rooms, including a large Auditorium (257 seats), a main meeting room (45 seats) and many small rooms accommodating about 15 people

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How many of those It is noted that Many are graduates, about 50% 50% that participate are annually there are but not in the sense graduates? very many that they have just applications, in the graduated. region of 600 per ‘Students’ often year. Usually every tend to be people call has about 400 who already have some applications, entrepreneurial overwhelmingly experience and who from teams, as even have their own mentioned personal funds. previously. They are looking to gain more specialization in specific areas (e.g. ‘specific marketing’, mechanics, megatronics) Do you require the No. The main There are two types Yes, there is a Yes a special application entrepreneurs to criterion is the idea of courses’ selection process, form available on the complete any and the proposal. If orientation, website preparation before it is well thought depending on www.incubatorase.ro commencing the out, the team will needs: Preincubation course? be selected and and incubation. The trained former offers the more traditional appropriately by ‘basic’ courses (e.g. HFarm.

entrepreneurial skills, marketing) while the latter is more specialist, concentrating on, for example, green technology and megatronics. However, there are two kinds of common topics: Project management and ecommerce

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Is there a selection There is. Out of the The accelerator A standardized No, anyone can apply. process? If so please several hundred programme (with form to be filled in describe submissions, there the JV) follows a that requires is an intensive competitive process: information than review process of submissions through there is a meeting face to face to the projects which online applications discuss the idea of are ‘uploaded’ at with a deadline, the business, the the H-Farm site, followed by analysis of the and a shortlist is qualification and team of the startup created. Only 10 to then selection. if it is consolidated 12 teams are and then the invited to the next product is stage, so the supported till the chance of getting end, there are two selected is small. meetings to see if The sheer number there will be a cooperation and if of submissions and there is chemistry small acceptance in the relationship. ratio assures that After the selection the finalists’ quality and after the will be high. There consultancy part, is then an ‘open there will be day’ during which documents to be these finalists are singed towards the invited to pitch their equity sharing in idea. The winners the startup are selected to business at Level participate in the 34 two of operation. month accelerator programs. Is it open to others Mainly the Changes are The aim is for Yes. ( students from within or outside the participants are constantly made to Romania, and U.S., Spain applied) EU? Italians but there curricula dependent but no one outside are other on the respective it will be refused. participants as well. audiences and their Numbers were not expertise, the available, but a course objectives figure of ‘maybe’ and the 30% non-Italians requirements of the was given. These companies or are (have been) individuals. No from the EU rather specifics were than elsewhere. provided.

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Have you made any "Adjustments are Have you made "Adjustments are being changes in the being constantly any changes in the constantly made, in curriculum of the made, in order to curriculum of the order to customize each courses? Why? customize each courses? Why? program. This depends program. This on the call, its title and depends on the call, focus and the its title and focus participants: their level and the of knowledge and their participants: their particular needs. level of knowledge and their particular needs.

SUCCESSES H-FARM ITALY TRENTINO SVILUPO Gemini Solutions ASE StartUP ITALY Foundry Incubator de Afaceri What would you say not yet at 40 fundings for this have been your international level, year each of 25,000 biggest successes to aiming for 2016 for euro date? a public launch Of those that Generally, 60% of Particular figures out of 150 projects 40 participate in the the 14 were not screened, 60-100 programme how many (approximately but immediately had great ideas, all set up in business? this number was available. Many went to Level 1 of given here) sets up participating advice, only 2-3 are a business. organisations were startup feasible Remember, H-Farm already operational, concentrates on so, reportedly, these ‘digital’ businesses. numbers are not as Other ideas are important or specific directed elsewhere. as in specific accelerators-only type companies. What would you say The main difference In order to The customised incubator space for makes you different is this ‘village’ idea. understand the model of doing free for the students from other offerings? A self-contained strengths of business, and charged for non- village with all the Trentino Sviluppo, everything, access students, over personnel, one can mainly to the U.S. 600 sqm environment, skill focus on several investment funds sets, even the factors: a) The and market, isolation, and a bunch of willing Company’s mission, excellence in participants, all which is generally to product working with each make the Trentino development, area more technical experience

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other (with a spirit innovative, of competition, but entrepreneurial, also learning from competitive and each other), popular. This gives contributes to a very Sviluppo a dynamic and proven ‘patriarchal’ aura (a successful model for very real hands-on accelerated business practical as well as incubation. emotional one) for the area. Many business aspects (e.g. start-up training and consultation, training for competitiveness, exporting logistics, etc.) are catered for to assist entrepreneurs (budding or existing), while being careful not to tread on local businesses’ ‘toes’ (e.g. legal services are not provided, as they can be purchased by local outside firms); Within this factor may also be included that this is a local government operation (see point c, below; b) the organisation’s several areas of expertise, which have been outlined previously, above. Big competitive advantage examples include the fields of megatronics, green technology and related in-house operations and/or 117

laboratories. Sviluppo’s JV’s also make it unique. For instance, its

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association with an independent accelerator and its provision of free space and laboratories (e.g. robotics) for smaller local firms who would otherwise not have access to such expensive equipment. c) Sviluppo’s history. Originally, the organisation (under a different name) was established by the ‘Autonomous Province of Trento’. Original operations included management of a real estate fund, a company operating in business innovation and the University of Trento. Combine that with the later addition of ‘Trentino Marketing’, and one begins to understand the scope and depth of Trentino Sviluppo operations.

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What do you feel are This complete Finally, the Perseverance, self-confidence, the top three qualities package which organisation is a adaptability to the sales abilities, to make a successful includes shareholder in many market, capacity to networking entrepreneur? accommodation, companies located in express their offer food and a the area to the public ( oral requirement that communication) participants physically stay on the premises (except week ends), makes accelerated business development a committed reality from all involved. Hence the many successes. There are approximately 50 companies still operational, while others have been sold at a profit. Success rate is about 60%, quite high. Do you believe that Perhaps Not particularly yes yes, the discover they STEM Ph.D students can /graduates are intrested in participating in programs that seek to stimulate their entrepreneurial mindset? What other priorities People skills Selling skills Communication and I do not know do you believe they pitching and the have that could be product definition, addressed through an obtaining/achieving educational one of the best programme? products

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What special training See previous See above Get out of the Sales, SMART, needs do you belive comfort zone, how commercial abilities, STEM participants to associate with a business, marketing, have that we need to business person to priorities throughout pay particular attention build a business the educational to when designing our around their programme own educational technical ideas and programme? speech, language business vocabulary Based on your Communication, Team building, Soft skills, financial, 1. Know-how experience, which business set up leadership communication, entrepreneurship ( skills, or special business oriented business plan, knowledge, should we business model, emphasize and seek to Cash flow develop when creating calculation, how to our educational validate a business programme specifically idea); 2. Business skills; 3. soft skills ( for STEM Ph.D. sales, commercial) students/graduates?

IMPROVEMENTS TRENTINO SVILUPO Gemini Solutions ASE StartUP H-FARM ITALY ITALY Foundry Incubator de Afaceri What improvements These programs See NOTE below. offering financing set up operational would you make to would be available to directly, stronger team, organizing the the service if there more and more connections with incubator,

were no limits? teams; The teams HEI, programme administration, a themselves would be accelerators prepared even better quality, environment, the in terms of ideas, need is so big, pu tit skills set and other on the European Map knowledge and networking. There would be a bigger network of connections and partnerships.

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If the EU could do Set up a more See NOTE below. too bureaucratic E.U. support incubators; more to improve complete, bigger procedures and incentives for entrepreneurship network of experts filling, more starting new what would this look and willing personnel for business at EU , US like? participants. More building up level, like TTIP very specific, profit submissions for, the oriented, industry EU funds, a more lax targeted programs. political and fiscal Too many programs policy, more funding end up at dead ends, or at least no real results. There is often a sense of academia, a sense of research for the sake of information gathering which often ends up nowhere What do you feel is Networks, or lack of. NOTE: The three Financing (difficult to it is difficult to start a the main barrier to Bigger teams should above points were be obtained in business, too many entrepreneurship? be set up, with more answered succinctly, Romania, access for responsibilities and knowledge and the in conjunction: They equity, rather than risks, without money ability to ‘take care’ must find out where banking loans, who one can do nothing. there is opportunity of the startups. finance only per and potential and each contract. proceed thus, in a results-oriented Investment Funds manner. The main needed to perform barrier to this. entrepreneurship is a lack of enough links to finance (banks, other investors, etc.), as too often there are liquidity problems, especially at the start. This causes many worthy businesses, which would take off with time, to never quite take off. ‘Europe’ could help assist in facing these challenges.

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What would you say Too little analysis Networking They imagine their Mistake the product are the most common deficiencies own version of the vs the goods, instead mistakes made by product, no of a good quality young entrepreneurs adaptation to the product, client in general? market needs, lack identification, the of flexibility in need addapting the product constantly to the market How can we take this Teach that Emphasis this and Lean Start Up- Book structure the into account when show ways to by Eric Ries… read knowhow of developing our own develop it it!/ also how MVP, entrepreneurship ( educational market feedback, see Marius Ghenea programme? product market fit book Antreprenoriat), Business Angels understanding Where do you see a More hands on More team building Test the product, 1. get rid of gap in existing needed these are isolated academic content, no entrepreneurship slides; 2. Include programmes? entrepreneurs ( mix with academics and entrepreneurs); 3. Entrepreneurial Know-How; 4. sales skills, know-how and soft skills

PARTNERSHIP TRENTINO SVILUPO Gemini Solutions ASE StartUP H-FARM ITALY ITALY Foundry Incubator de Afaceri Do you currently Details were not Details were not No. Gentlemen Not yet work with any EU provided, though provided, though it agreement with The partners? - if so they are involved in was stated that they Family Incubator please provide info several EU projects. are currently working from France, where in 10 EU projects. GSF helps with They mainly work experts in the with Italian (and technical field. surrounding area partners), but they also currently work with Spanish and

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partners from other countries Do you work with any They are members of Also, no details but Yes, with the U.S.A., No partners outside of international they work with in the sense that the EU? - if so please networks and also a organisations all over there are investors add details European the world who fund the Entrepreneurship Romanian startups network. They through equity mentioned FIWARE. finance and venture They offer capital. internships, although there should be more funding available for these. Would your Yes Yes YES Yes organization be interested in offering a pre-accelerator programme for STEM PhD participants once such an educational programme has been developed by our project team?

OTHER INFORMATION H-FARM ITALY TRENTINO SVILUPO ITALY Gemini Solutions ASE StartUP Incubator Foundry de Afaceri

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H-Farm is located in Roncade, in Trentino Sviluppo is ‘headed’ The Gemini Solutions This incubator has northern Italy, not far from by a local governmental board, Foundry has derived been funded by a mix Venice and Treviso. It is situated at Trentino. Their stated main from Gemini of sources form the EU in farm land in open fields. Its 7 focus during the interview is to Solutions, a funds, the ASE state buildings are in relative isolation help improve the areas consultancy firm in funds and a small IT with over 10 percentage from is described as an advantage prospects in all kinds of areas, years’ experience in private companies because it allows training with the main emphasis being Silicon Valey in the funding. It is very new, participants and entrepreneurial on technological U.S. and in Western it started at the teams to concentrate on the breakthroughs and machinery, Europe. Based on beginning of 2014, work at hand. and tourism. their success it now operational since early buys companies in 2015. Romania and it provides funds for the startup of 3 to 5 people and it responds to the Romanian market needs. Participants are expected to fully The organization is not strictly Their market niche The incubator has to

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commit themselves to the a money-making concern and are micro Romanian offer to 40 start ups enterprise during the whole it does not think in a modus companies, but it funding of 25,000 euro program cycle (see below). The operandi of creating ‘profit amis at targeting each. There were 260 weekends are free, but during centres’, as other similar these companies idea plans, of which week days participants are operations might do. Their aim possibility to expand 150 submitted and 86 is to improve the economy, preselected, of which expected to do nothing else but at international conditions, opportunities and 40 will be funded. The train and develop their level, thus competitiveness of the startup people are entrepreneurial ideas. Trentino area. Business people overvaluing mainly students and from established firms, new themselves and graduate of ASE who entrepreneurs with start-up targeting want 'more from life'. ideas and local educational international value. The eligibility is based institutions all ‘utilise’ the GSF has three levels on two regions of organization for help regarding of services: 1). Level Romania: Bucharest , training in all kinds of subjects one is free of charge the capital and Ilfov (see below), spotting advices for District, South -West opportunities, guidance for directions of the Olt district, Gorj, Dloj, specific activities (e.g. business. 2). Level 2 Olt, Valcea, Ilfov, but exporting logistics), are various services they are open to other networking and creating and a 2-3 month regions as well as any connections with local and longer term foreign students international organisations, cooperation with residing in Romania. conferences, special courses, daily availability This year there is a etc. after the evaluation project on students of the effort from Spain from the involved, after which MBA programme. an equity percentage is agreed for sharing the startup profits and capital. Investment funds from U.S. France and Germany are involved in the financing part and is provided by through GSF.

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The letter H in H-Farm, stands Because of the variety of There are Not enough money for for the word ‘Human’, a word activities related to this diverse specialised classes such entrepreneurial which emphasizes the approach organisation, the respondents of " Lean start up" projects, the limit is of the program. H-Farm considered some of the which are for one small 5,000 to 10,000 concentrates on projects using questions in the interview too semester, explains euro , but it is needed ‘digital tools’, i.e. mainly ‘narrow’. To explain, there is the finality of for r more and the risk internetbased start-ups and an accelerator ‘wing’ researchers, have an of losing it is high, so mobile apps. (internally and externally – impact on hundreds no need for apart from internal related of people, explain guarantees. There is a activities, they also have an the practical value of external association, a need to fund 1000 their work, are company dedicated to firms per year at 5000 dressed up laike ‘accelerating’ and startups), euro each. Need for entrepreneurship but they do not adhere to the people skilled, courses, and makes title of ‘accelerator’. They are incubators, facilities the sartupers get just as much an incubator, a and to find the right out of their comfort equilibrium of this

consultant and advisor. zone. mixture or a middle way. There are over 450 ‘young’ Especially, there are areas Startup "Research Find the right balance employees at H-Farm, so it is a where only Trentino Sviluppo and Industry" is also between money and .. buzzing, alive place. The feeling can help smaller companies. dedicated to the To many things that things are happening is For example, they are heavily representative available. almost palpable. A total of 20 involved in Mechatronics, people in the industry for Romania million Euros have been invested which involves a really high Startup ( Mr. in start-ups in the last decade. investment to develop in Alexandrou Cabuz) There have been approximately independent companies. 80 start-ups, many of which are Mechatronics combines still operational, as will be seen mechanics, electronics, below. Some new businesses are automation, robotics and sold off, others are kept within H- informatics and it often Farm’s portfolio. involves expensive massive machinery. Trentino Sviluppo has relevant laboratories within its expansive real estate, which includes buildings in many areas, apart from the main operation at Rovereto, Trentino.

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H-Farm is a specialized The organisation deals with a accelerator, in the true sense of diverse set of activities. These the term. Through accelerated include: developing foreign programs and training, and very markets; business specialized relevant training, development; seed money; European projects; incentives ‘inventions become innovations, and opportunities; production ideas become products and spaces; incubation centres people become entrepreneurs’. (BIC’s); Mechatronics; business crisis; green and clean technology; porphyry and stone industry; the Trentino film commission; branding Trentino; communication and events; Human Resources; Foreign Direct Investment; Marketing; Tourism; and assistance in starting up a business. As can be noted, this list includes many activities catering to quite differing activities. Trentino Sviluppo is a ‘business centre’, more than an accelerator programme. Hence, some of the questions/ points below do not exactly hold one answer or any answers, in some cases. The organisation is currently involved, directly or indirectly, in innovative activities such as experimental apps, video games on a treadmill, a ‘passive house hotel’ and water purification using recycled bottle caps. Importantly, the organisation helps companies set up their business in the Trentino area, offering personal consultation and related services. Almost €13 million was the budget for related activities (2012-2015).

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H-farm separates its operations Regarding accelerator into four main parts, although programs specifically, Trentino they are all interconnected, for Sviluppo also collaborates with self-evident reasons. 1) external organisations (see Acceleration Programs; 2) below) for logistics and Portfolio Investments (this execution. includes ‘scouting and advisoring’, that is, selecting the best start-ups from various industries from around the world; 3) Digital transformation (turning ideas, creations, inventions into viable business models); and 4) Digital Education. H-Farm purports to have the benchmark in digital education in Italy. This digital education is all under the umbrella of the so called ‘Digital Accademia’. The biggest advantage of H-Farm The organisation delivers is probably its (realized in many training in ‘pre-incubation’ and ways) vision of creating a ‘incubation’, the former ‘creative village’ where every involves more basic start-up need is almost preparatory courses (e.g. selfcontained: from business business English language model development, to legal and courses). The incubation other issues. period can be brief but there is a formal ‘6 year follow up’ of the incubation period. This organisation tries to stick with the ‘trained’ firm, guiding it for success.

EU VISIT BY CYBAN

Name of company and ELEVEN The Bakery Techstars contact information including email and website

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Eleven manages a €12M Jeremie Fund from 2012, having a 10-year mandate. In essence, It is a private How the organization is company managing a funded: private/public public-private fund. The split? company's operations are funded through a management fee that they charge on the funds under management. Privately funded Privately funded B2B Sales Accelerator, matching big-name brands, such as AB InBev and Panasonic, with startups. It is the first How the organization dedicated program that identifies itself: They call themselves an offers advertising and science/technology park, "accelerator venture fund". marketing tech developers incubator, accelerator etc.? Their main difference from direct access to and a typical accelerator is that mentoring from top brands they have the capacity to and agencies so they can invest up to €200K in each get their first big clients company they accelerate. quickly. Global Accelerator Eleven works with HEI's Whether it works with but not on a formal or any Yes, they tend to have higher education other special basis. They graduate teams but they institutions (HEIs) and/or simply sometimes receive are not treated any other ‘partners’? requests from HEI differently from other graduate teams. teams. No They have relations with individual professors in HEI's who may send them graduate teams with projects that are ready for If it works with HEIs and acceleration. These other partners, in what projects are usually formed way? in entrepreneurship programs of the Universities and the teams There is no special are not treated in any relationship with HTI's. special way because they They expect the teams to come directly from an HEI. be complete and ready. N/A Does it focus on working They focus primarily on Advertising software with specific client groups ICT projects (90%) but will technology. Mostly ICT/Web/Mobile

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or particular sectors? not exclude a good idea in another sector (10%). The core team consists of 6 full time employees but they also have a network of people helping on a project How many staff it has. basis. Eg, the "design thinking" and "stage performace" courses are outsourced to external 18 people in the London expert teams. The core team is 9 people. team

DELIVERY ELEVEN The Bakery Techstars

How is your entrepreneurship It is a face-2-face program It is a part-time (a few programme delivered and is exclusively delivered hours per week) f2f Only F2F online/face to at Eleven's premises in programme face/combination or Sofia both/other? What is the duration of the The program has a duration The duration is 12 weeks. 12 weeks. In London they programme and how of 3 months and there are They run about 40 hold 3 general sessions frequently are they 3 programs delivered per programs per year, many of and 3 vertical (fintech) delivered? year. them overlapping. sessions per year How is delivery structured The first half of the program e.g. number of hours per is full-time and quite day? intensive and covers topics such as design thinking, mentor week, workshops on Over the 12 weeks, the legal, marketing and teams meet f2f 3 times with fundraising issues. The the brand companies and 5 Full time for 12 weeks second half is less times with Bakery for instructive (about 15 hours mentoring and monitoring. per week) and more practical and includes adhoc workshops on topics such as stage performance.

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Is the programme No the program is not No the program is not No the program is not accredited? If yes please accredited. accredited. accredited. provide details? Do you provide any Usually the Eleven team Yes, the relationship support following the keeps close contact with the between the brand Continuous mentoring course – if so what? graduate teams and company and the startup is offered whenever required. sometimes additional funds managed by the Bakery. may be invested through the fund. In addition, and based on space availability, some teams are hosted at the premises for some time after graduation. Is there a charge for the Eleven gets 8% equity course? If so how much? stake in exchange of €25K that each company receives No, they get a commission No cash charge. They get when they enter the from client brands. There is 8% equity program and then charge a no equity share either. €2K fee for the program itself. Who is the programme The program is delievered The program is delivered by Mostly delivered by the delivered by? E.g. by the core team, and the Bakery team and team and some external academics, entrepreneurs, mostly by external resources from the client entrepreneurs (mentors) mix of speakers guests/mentors. (brand) companies. Do you deliver to individual No, they only deliver the entrepreneurs? If yes do program to teams They ususally only take in No, they only accept you encourage any (preferably with see funding complete teams. complete teams collaboration with others? already received and 5-15 people per team). Is it possible to sit in on any delivery or have a copy of the programme material/outline to gain a No more in-depth The program is not public understanding of the and is only delivered to the training? teams. No Once a participant is The participating teams accepted on your receive €25K in exchange programme, do you offer for 8% equity stake. The him/her an amount of money is mostly used for Yes, they get ₤25K per money for his/her living living expenses (about 50% team (against 8% equity) and subsistence costs? of the particpants come plus an additional ₤75K as from outside Bulgaria). No a convertible loan.

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DEMAND ELEVEN Techstars The Bakery.com

How many participants do About 30-40 people per Over 200 participants. 10 teams per session you have per course? course. Do STEM (Science, Technology, Engineering, Mathematics) PhD These are few PHD Not a focus for Bakery, but students/graduates graduates but no special Sometimes some teams do apply. participate in the treatment is offered entrepreneurship programmes that your organization implements?

If yes, what do you see as The PHD graduates are not the special characteristics different from the rest There is a large business & Lack of commercial (or unique attributes) of (they expect the team to teamwork skills gap. knowledge these participants? have technical and building aspects) Do you require the entrepreneurs to complete No, they just need to be No any preparation before No preparation required complete teams commencing the course? (even had 16- year old) Is there a selection Application process is process? If so please entirely online through f6s. describe. Selection window open for 1 month (250-500 applications/ intake: 3x/ year). Interview in RUM or Yes, they receive about via skype 60-80 applicants There is an ongoing 1000 applications per invite a shortlist of 25 selection process using an session from which they teams in a selection event online application form. preselect 75 for skype (3 day event) where they The main criterion is the interviews out of which 25 meet mentors and alumni- applicability of the team's are selected for f2f receiving feedback and technology to brand's interviews and 10 enter guidance and on 3rd day challenges. the session. they peach in front of investment committee (core team and 5-6 mentors/ advisors). Selection cycles lust 2 months. Is it open to others within Open to all but mostly EU or outside the EU? teams apply (over 20 Yes, internationally Yes. nationalities) 133

Have you made any Changes are made The program is always changes in the curriculum continuously based on evolving depending on the of the courses? Why? feedback from teams and requirements of the client Continuously adapting to mentors. brands. market needs

SUCCESSES ELEVEN The Bakery Techstars

Of those that participate in About 25-30 teams per From graduates about 2/3 the programme how many year get an initial contract continue to be in business Over 80% set up in business? from client companies (half of them successfully). (brands). What would you say makes Main asset is large It is a sales-focused Experience, strick selection you different from other community of around 300 accelerator helping criteria, industry contacts offerings? founders (20 nationalities) startups match their and mentor quality. All in last 2 ½ years most technologies and solutions these create a great name. very active in the program to actual challenges from (as mentors) and more multinational companies financial support. (brands). What do you feel are the Must be very good at top three qualities to make execution. Believe that the a successful entrepreneur? predictor of success is Execution, execution, Team, Passion, Idea balanced team. Program execution… designed around team NOT individuals. Do you believe that STEM PhD students/graduates They expect the team to are interested in Yes, but nothing special is come ready so no individual participating in programmes offered to STEM PhD Yes attention is given to PHD that seek to stimulate their student teams. students/graduates entrepreneurial mind-set?

What other priorities do They lack you believe they have that commercial/marketing could be addressed through knowledge and very Lack of commercial an educational programme? Must have business sense impartantly, they need to knowledge and ability to (but no special treatment is focus on the applicability of blend in a team given). Up to the team to their technology to market do this needs.

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What special training needs do you believe STEM Suggest to go to a Commercial knowledge, participants have that we preaccelerator (eg. "start- Application of technologies team building skills and need to pay itsmart" in Bulgaria) and to market needs. mindset training to accept particular attention to when get some help to set up giving up control of their IP designing our own team and business sense educational programme? Based on your experience, which skills, or special knowledge, should we There is a massive gap on emphasize and seek to Business accumen & commercial, marketing and As above develop when creating our working as a team. technology-market educational programme development skills. specifically for STEM PhD students/graduates?

IMPROVEMENTS ELEVEN The Bakery Techstars

Would be better for teams A new program that will to challenge their provide real market What improvements would hypothesis and talk to more challenges to graduate you make to your service if mentors. Also expand n/w teams to solve, thus None there were no limits? of mentors and customers creating their bsuienss in specific industries and around the developed verticals solution If the EU could do more to No opinion (Jeremie is a Nothing much Don't know improve entrepreneurship good PPP) what would this look like? Lack of good eco-systems/ What do you feel is the infrastructure/ mentors and main barrier to Fear of failure Fear of failure funding/ admin services/ entrepreneurship? etc What would you say are Lack of domain expertise in the most common a particular area and single Not understanding real Not flexible about changing mistakes made by young founders lucking team and market problems their original idea entrepreneurs in general? no team work experience How can we take this into Through experience account when developing program is enhanced next Match PhD research to Don't know our own educational time taking into account actual market challenges programme? these limitations

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HTI's should partner with external mentors to teach entrepreneurship. However, HTI's usually Working in real life teach entrepreneurship conditions for a real known Too academic inside their own "sterile" problem Where do you see a gap in environments resulting in existing entrepreneurship gap in realistic and programmes? practical knowledge.

PARTNERSHIP ELEVEN The Bakery Techstars

Do you currently work with any EU partners? – if Jeremie/ EIF/ mentors etc No Mentors from EU so please provide info Do you work with any Mentors from EU mostly partners outside of the Global client companies Mentors from the US and because of proximity but EU? – if so please add (multinational brands) other markets here some US as well. details Would your organization be interested in offering a Being a small team with pre-accelerator limited capacity so they Only as part of a more No, but would be personally programme for STEM PhD prefer to focus on what general B2b program that interested in offering participants once such an they do well. So No but covers real feedback on the final educational programme ready to partner with problems/challenges curriculum has been developed by our someone who offers it project team?

EU VISIT BY CHRYSALLIS Name of company and contact information including email and The EGG MyCo Incubation, website The EGG is a CSR project that is How the organization is funded: privately funded (by Eurobank). It is private/public split? not a legal entity. 100% privately funded organisation How the organization identifies itself: science/technology park, incubator, accelerator etc.? Incubator - Accelerator Incubator - Accelerator

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Not working with HEI's. Attempts to Whether it works with higher approach Hungarian HEI's were education institutions (HEIs) and/or made but the responses were other ‘partners’? negative due to complete lack of Yes. It sponsors and supports HEI's interest. Together with other institutions and corporates they offer in-kind contribution e.g. in the form of If it works with HEIs and other services. The EGG also works with partners, in what way? the Corallia Clusters Initiative that helps more mature companies in the field of gaming and electronics N/A Does it focus on working with No. The program is open to all specific client groups or particular industries ranging from agriculture to The program covers all sectors sectors? IT except ICT 2 head coaches, 10 coaches, 1 How many staff it has. 4 members of staff - onsite admin assistant

DELIVERY The EGG MyCo Incubation How is your entrepreneurship Face to face training based on the programme delivered online/face to Business Model canvas and the face/combination or both/other? Face to face training via scheduled content of the training provided by and ad-hoc "bootcamp" sessions. Climate-KIC which combines material There are weekly appointments with from various sources including the the mentors. business model canvas and "disciplined entrepreneurship" by Bill Aulet. What is the duration of the 9 to 11 weeks per program and programme and how frequently are 1 year duration, annual intakes there can be up to 8 intakes per year they delivered? How is delivery structured e.g. No specific structure, but participants Phase 1: 4-5 day bootcamps. Phase number of hours per day? are assessed on their commitment 2: 4-5 hours per week for 4 weeks. and achievement of set deliverables Phase 3: ad-hoc Is the programme accredited? If yes NO. Participants receive a ranking No. please provide details? according to their performance Do you provide any support following YES - ad-hoc communication with the course – if so what? former participants, networking support. The teams performing best Alumni teams with business during the program, get to stay with operations meet with coaches every the EGG for another year offering 2 weeks useful insights and guidance to the new intake

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Is there a charge for the course? If so There is a symbolic fee of 1 euro per how much? day and at the end of the year the No. MyCo receives an equity share in participants donate this money to a participating teams ranging from 10 charity or other institution of their to 25%. choice Who is the programme delivered by? E.g. academics, entrepreneurs, mix of Mix of speakers Mix of speakers speakers Do you deliver to individual entrepreneurs? If yes do you Yes, but there is no interest from Yes encourage any collaboration with individuals as yet. others? Is it possible to sit in on any delivery There is no specific content as this is or have a copy of the programme designed and delivered on an ad hoc material/outline to gain a more basis according to the needs of the No specific content. Program varies indepth understanding of the participants according to the needs of training? participating teams Once a participant is accepted on your programme, do you offer him/her an amount of money for his/her living and subsistence costs? No No

DEMAND The EGG MyCo Incubation How many participants do you have 8-9 teams per intake, 15-16 persons in Approx. 25 teams, max. 70 persons per course? total Do STEM (Science, Technology, Engineering, Mathematics) PhD Yes. Around 50% are STEM students/graduates participate in the No students/graduates entrepreneurship programmes that your organization implements? If yes, what do you see as the special Different way of thinking (more characteristics (or unique attributes) technical). Need to start thinking N/A of these participants? how to commercialise their ideas. Do you require the entrepreneurs to complete any preparation before No commencing the course? No

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Is there a selection process? If so It is a 4 step process. First, please describe. applicants submit an 8 page business plan on a standard template. 2. This Yes. There is no specific format. is then reviewed by two to three Teams pitch their ideas to a panel of external assessors. The top 60 are judges who mainly rely on their "gut offered a chance to pitch for 5' in feeling". After years of experience front of a panel of 7-9 judges. 3. The they are in a position to know which top 40 are given the opportunity to ideas have prospects. They also take pitch for another 5' followed by 5' into consideration the level of Q&A in front of a single judge. 4. knowledge of the English language. The top 20-25 are selected for the intake. Is it open to others within or outside Yes. Anyone can participate at their Yes. There are no restrictions the EU? own expense

Have you made any changes in the The program is constantly evolving curriculum of the courses? Why? and designed according to the specific requirements of the Changes are made continuously to participants adapt to the needs of each course.

SUCCESSES The EGG MyCo Incubation Of those that participate in the So far around 20 participants have programme how many set up in 5-10% started their own business. business? What would you say makes you The organisation is very strong at different from other offerings? the pre-accelerator stage of the The flexibility in delivering the training, providing the necessary program tools early on helping teams transform ideas into viable businesses What do you feel are the top three qualities to make a successful Commitment, Resilience, Endurance Stamina, focus, respect entrepreneur? Do you believe that STEM PhD students/graduates are interested in Yes, and they should be further participating in programmes that No encouraged seek to stimulate their entrepreneurial mind-set?

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What other priorities do you believe Specialised workshops in the areas they have that could be addressed of marketing, sales, negotiation through an educational programme? skills, financial planning, as well as N/A mix 'n match with graduates of different backgrounds What special training needs do you STEM students have strong analytical believe STEM participants have that and technical skills and are the best learners. They should be trained to we need to pay particular attention to As above when designing our own educational learn how to take out these hard programme? skills and how to improve their soft skills Based on your experience, which skills, or special knowledge, should The educational program could start we emphasize and seek to develop earlier, at school. Students would As above when creating our educational develop their skills and learn by programme specifically for STEM doing. PhD students/graduates?

IMPROVEMENTS The EGG MyCo Incubation What improvements would you make Set up a second location and The aim is to build a 10.000 sqm to your service if there were no subsequently more, both in Greece working and training space which will limits? and internationally provide all necessary resources to start ups If the EU could do more to improve Improve the ease of doing business Spend money to attract quality entrepreneurship what would this from a legal, regulatory and tax coaches and mentors across the EU look like? perspective What do you feel is the main barrier Mentality Wrong mindset to entrepreneurship? Having the wrong mindset in trying to seek solutions for themselves rather than solving customers' Underestimate the barriers and how problems/pains. They also expect to difficult it really is to set up a new raise funding prior to delivering business. Young entrepreneurs are What would you say are the most results. Also the fear of failure rarely fully committed. common mistakes made by young prevents them from exploring their entrepreneurs in general? full potential. How can we take this into account Teach students to do first and have Encourage a startup to take part in when developing our own educational something tangible in hand other training programs as well programme? Where do you see a gap in existing N/A entrepreneurship programmes? N/A

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PARTNERSHIP The EGG MyCo Incubation Do you currently work with any EU No Yes. Oxolab and Climate-KIC partners? – if so please provide info Do you work with any partners outside of the EU? – if so please add No No details Would your organization be interested in offering a preaccelerator programme for STEM Yes Yes. PhD participants once such an educational programme has been developed by our project team?

Annex II: Results from doctoral centre and career services visits

DELIVERY EUC Careers Centre How is your entrepreneurship programme delivered Mainly face to face presentations to alumni. Also, through online/face to face/combination or both/other? 'webex'. Depends on the event. 'Wobi' is delivered twice a year. Stands for 'world of business ideas', with distinguished What is the duration of the programme and how presenters; 'self-made' presenters are periodically frequently are they delivered? invited; there are round-table discussions-workshops; specialised presentations (e.g. music technology, media industry, etc.; and conferences on entrepreneurship, etc.

How is delivery structured e.g. number of hours per Depends. Usually, they aim for 12-25 people. day? Do you provide any support following the course – if so Not specifically. what? Who is the programme delivered by? E.g. academics, A mix, but they prefer entrepreneurs. entrepreneurs, mix of speakers? Do you provide support to individual students/graduates? If yes do you encourage any collaboration with others? Not specifically. Is it possible to sit in on any delivery or have a copy of the programme material/outline to gain a more in-depth NA understanding of the training?

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DEMAND EUC careers Do STEM (Science, Technology, Engineering, Mathematics) PhD students/graduates participate in the NA entrepreneurship programmes that you implements? If yes, what do you see as the special characteristics (or NA unique attributes) of these participants? Have you made any recent changes in the content of the An entrepreneurship MBA is starting now, but not truly courses? Why? applicable to PhDs

SUCCESSES EUC Careers Of those that participate in the programme how many NA set up in business? What would you say makes you different from other The variety of approaches that are available. The variety offerings? of experts whom can help What do you feel are the top three qualities to make a Creative skills; Analytical skills; Leadership successful entrepreneur? Do you believe that STEM PhD students/graduates are interested in participating in programmes that seek to Not sure stimulate their entrepreneurial mind-set? What other priorities do you believe they have that could Assessment of soft skills. Laureate has a specialised be addressed through an educational programme? questionnaire What special training needs do you believe STEM participants have that we need to pay particular How to think 'business'; entrepreneurship skills; attention to when designing our own educational Creativity programme? Based on your experience, which skills, or special knowledge, should we emphasize and seek to develop See previous when creating our educational programme specifically for STEM PhD students/graduates.

IMPROVEMENTS EUC Careers What improvements would you make to your service if Continuously match market needs and people skills there were no limits? If the EU could do more to improve entrepreneurship More 'brainstorming' with us in order to build policy and what would this look like? programmes What do you feel is the main barrier to Seeing the future'. Learning to anticipate and respond entrepreneurship? 142

What would you say are the most common mistakes Knowing that the market 'can eat you up' learning to made by young entrepreneurs in general? hold on and respond How can we take this into account when developing our Have, apart from soft skills training, specialised training own educational programme? (eg. Energy, biology etc.) Where do you see a gap in existing entrepreneurship More end result, like money competitions; more programmes? mentors; more international advisors

OTHER INFORMATION EUC CAREER CENTER Generally, use all University resources available; be close to the market; use international connections and experts, be more aware of international developments

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