Entrepreneurship and New Business Development in
a Silicon Valley framework
Camilla Rygaard-Hjalsted, November 20, 2014
Executing the innovation strategy
Types of Innovation
Clayton S. Christensen "A Capitalists Dilemma" New York Times, Sunday Nov 4th, 2012
• Sustaining Innovations - Replace old products with newer,
better ones
• Efficiency Innovations - Reduce the cost of making or
distributing existing products or services
• Empowering Innovations - Transform complex, costly
products only available to a few to simpler, cheaper
products available to many
• Radical Innovation – Create new categories of products or
services with entirely new markets (“Blue Ocean” strategy)
Areas of Innovation
•
•
•
•
Market Innovation – Finding the next big opportunity
Culture Innovation – Creating a culture of risk-taking, fast failure, and rapid pivots
Corporate Innovation – Innovative techniques to manage innovation within
organizations and corporations
Competitive Innovation – Staying ahead of global competitors
Why Silicon Valley?
Greatest universities
on the planet!
1/3 of the world´s
venture capital
The world´s center
for innovation…
…as well as startups
and tech companies
Silicon Valley – 8 mill people
Why? 10 Reasons why Silicon Valley works
1. Strong “Wild West” ideals: Hard work, eternal
optimism, restless, appetite for risk-taking (Gold Rush)
2. Strong educational tech talent pool: E.g. Stanford, UC
Berkeley
3. Few or no barriers, e.g., social/racial/ethnic/class
4. Strong flow of tech-talented immigrants: China,
India, Europe
5. Failure is not stigmatized: Valued as “education”
Slide borrowed from Tom French, ICDK advisory board member
10 Reasons continued
6. Ecosystem open and dynamic
7. Network, abundant, informal, open, focused on knowledgesharing
8.
Legal assistance, etc.: Strong support from key service
providers
9. Abundance of capital! 1/3 of the world´s venture capital in
SV
10. Stock options and IPOs create “serial entrepreneurs”
Silicon Valley Ecosystem
MARKET
TALENT
CAPITAL
SCALING
EXPERIENCE
Denmark’s need for innovation
Start-ups, SMEs
• Today’s role models
• Understand today’s path
from start-up to growth
• Global reach from start
• Better entrepreneurial
education
Corporations/organizations
 Innovation management
 More risk willingness
• More corporate funding to
start-ups
• Career path for
entrepreneurs/intrapreneurs
Key Learning:
Executive Innovation Management
Get the mandate
• Corporate innovation
management starts at Clevel…
Get the metrics right
• …and the metrics for
measuring new business
creation are different from
the core business
Technology today is data driven, education and funding is
democratized and the sharing economy is flourishing
Silicon Valley tendencies
• Big data all over
• Educational Disrupt
• Air B&B, Uber, …