INNOVATION AND CORPORATE ENTREPRENEURSHIP The Art and Science of New Business Creation for Ambitious Corporations and Startup Entrepreneurs KENNETH P. MORSE MARCOS GÓMEZ

BARCELONA, November - December 2011

The Innovation Imperative: Companies need to achieve strategic growth through both incremental and Radical Innovation in order to survive the tsunami of global competition.

OBJECTIVES

Creating new markets, embracing new business models and identifying new customer segments within existing business units is a major challenge. Achieving significant innovation rapidly in traditional corporate environments is a daunting task. Almost all established companies recognize the strategic importance of innovation, intrapreneurship, corporate venturing and the creation of new markets. However, many large companies, especially those in Europe, have failed to realize the anticipated growth they need to remain significant and competitive global players.

• How to organize and leverage the corporate setting to start and grow new, significant, globally competitive businesses.

This course provides participants frameworks for innovation where, through collaboration with a variety of partners, new ventures can be created with an improved perspective and faster clock speed, outside their current corporate or start-up environment.

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This course conveys the latest concepts of entrepreneurship, intrapreneurship and corporate venturing with a focus on new product/new market/ new business models combinations including the finance, marketing, sales, technology and human capital frameworks relevant for start-up ventures. Innovation is introduced as a tool to create a meeting ground for corporate environments, university labs and and start-ups where resources, know­ ledge and especially new business options can be jointly developed. This Corporate Entrepreneurship course teaches the fundamentals of Innovation as applied to deve­ loping new venture options for global corporations. The participants will develop and refine a new business case, which will be evaluated during the last day of the course by an objective and demanding team of experts. The combination of world-class teaching, business case development, and access to networks will strengthen each participant’s new business deve­ lopment and venturing capabilities.

The course provides insights into the key aspects of global entrepreneurship, intrapreneurship, open innovation and corporate venturing:

• How to use new business development and venturing as a tool in strategy making processes and corporate transformations. • How to collaborate effectively with start-up firms and tech entrepreneurs. • How to generate successful (corporate) start-ups in an Open Innovation setting. Searching for complementarity: the role of incubators, spin-ins, spin-outs, corporate venture capital and other partners. The course addresses critical issues related to growing new business start-ups:

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Starting the venture: The Team. The Customers. Entrepreneurship/Intrapreneurship. Opportunity scouting. Creating value through technology. The role of intellectual property. Marketing, sales, financials: Sales and marketing for intrapreneurs. Venture capital: corporate venturing, public venturing. Setting up a business plan: Elements of the plan. Getting your message across. The importance of global ambition. How to build your team: Stages and evolution of the organization.

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How to scan the environment for new ideas.

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How to create and recognize new opportunities for innovation.

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How to organize the corporation to optimally embrace, assimilate, and integrate new technologies and business ideas.

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How best to work effectively and negotiate deals with technology providers (small start-ups and research institutes).



What is the role of flexibility and complementary competences in these negotiations?

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The will to win: the importance of leadership and the team.

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Global ambition means planning global sales from the start, but how?

SYLLABUS DAY 1: Monday, 28 November

DAY 2: Tuesday, 29 November

The Innovation Imperative: Innovate or Die Innovation = Invention + Commercialization

Engaging Customers and Generating Sales

Alternative Innovation Business Models, and the Pros and Cons of each Marcos Gómez, Kenneth P. Morse In this first day, we will examine the strengths and weaknesses of corporate innovation as it is practiced in emerging markets and advanced economies around the world. The traditional model is based upon a logic of internal vertical integration. As we shall discuss, the surrounding innovation environment no longer supports this internal logic, because the knowledge landscape has become too diverse and distributed for any one company to monopolize useful ideas in a given technology area. We will then present new and different models of corporate innovation, including Open Innovation and Corporate Venturing, and show how these models fit better with this more diverse and distributed environment. Time 09.00 10.00

Program DAY 1 Welcome by Dean Alfons Sauquet, Jaume Hugas and/or Josep Piqué The Innovation Imperative: Achieving Global Competitiveness through Entrepreneurship and Innovation Ken Morse

10.40 11.00

Break The Changing Context of Industrial Innovation: Open Innovation and Corporate Venturing Marcos Gómez, Ken Morse

12.30 14.00

Lunch Open Innovation & other Business Models Marcos Gómez Developing and Sourcing new Innovative Ideas Marcos Gómez

15.30 17.00 17.20

18.00

20.00 22.00

Break Innovating Beyond the current Business Models, including Services Required reading: CHESBROUGH, Henry. “The New Environment for Business Models”. In: Open Business Models. Boston: Harvard Business School Press, 2006. p. 49-80 Marcos Gómez Working with Venture Capitalists to Access Early Stage Technologies Ken Morse, Eric Achtmann Evening Study Tour: Antoni Gaudí, Paseo de Gracia Begin to form teams to develop a new business idea

Kenneth P. Morse, Marcos Gómez

Day 2 is devoted to what is consistently described as the most challenging Critical Success Factor in achieving Innovation: Selling the new concept and product, both to new customers, and inside your organization. The focus of this day will be on defining and quantifying the value proposition, preparing an effective elevator pitch, and then involving potential lead customers to prove the case. At the end of the day, the course attendants will have the opportunity to test their business proposition in a Networking and Sales Pitching Exercise with leaders of the Barcelona Entrepreneurial Ecosystem.

Time 09.00

10.30 11.00

12.30 14.00

15.30 16.00

17.30 18.15

19.45 21.00

Program DAY 2 Welcome by Ken Morse Framework and Definition of High Tech Sales, Sales Management, and Building Predictable Strategic Customer Relationships Case Example: Quantifying the Customer Value Proposition Ken Morse Break Communicating your Value Proposition to Prospective Customers Ken Morse Lunch Finding Value through Alternative Business Models (inside-out) Required reading: CHESBROUGH, Henry; GARMAN, A.R. “How Open Innovation Can Help You Cope in Lean Times”. Harvard Business Review. December, 2009. Marcos Gómez Break What makes a Great Elevator Sales Pitch + Practice Ken Morse Transfer to the Building Roof Reception and Live Graded Networking and Sales Pitching Exercise with Barcelona Entrepreneurial Ecosystem Standing Buffet Dinner and Networking Event for the Participants at ESADE

DAY 3: Wednesday, 30 November

DAY 4: Thursday, 01 December

Global Ambition, Global Sales Eric Achtmann, Ricard Huguet, Laura Morse

Kenneth P. Morse

Day 3 is further devoted to developing and implementing a convincing innovation and commercialization strategy. Go to market lectures cover a wide variety of important aspects ranging from ’how to build a sales and customer oriented company’ to ‘how to close the deal’. Time 09.00

10.45 11.00

12.30 14.00

15.30 16.00 18.00 18.15

Program DAY 3 Global Sales Strategies Required Reading: Spotfire case + Questions Case discussion: Spotfire - How a Swedish Software Company Built Their Global Sales Strategy: Lessons learned Ken Morse Break Creating a Sales and Customer Focused Culture in Your Company and with Your Customers Ken Morse Lunch Managing a Global Sales Organization: Making a Successful Close Ken Morse Break Teams and Case Preparations Marcos Gómez, Ken Morse

Overcoming the Innovators Dilemma and Building World Class Management Teams

Time 09.00

10.45 11.00

12.30 14.00

15.30 16.00 18.00

Evening Study Tour: Networking Dinner at Barcelona’s Beach: Escriba

Program DAY 4 Overcoming the Innovators Dilemma: Corporate Venturing in Major Firms Enric Huguet Break Building World Class Management Teams to Accomplish the Innovation and Corporate Venturing Imperative Laura Morse Lunch The Critical Importance of Teamwork vs. Individual Performance Ricard Huguet Break Coaching the teams for their final presentations Eric Achtmann, Laura Morse Evening Study Tour: Barcelona City Tour and networking dinner at Poble Espanyol, Montjuic

DAY 5: Friday, 02 December

Reviewing, Coaching, and Judging the Business Plans Marcos Gómez, Ken Morse In the morning, participants will have time to further refine their case presentations. Then, all business cases will be discussed in several groups consisting of both your fellow students and also invited guests with expertise in the relevant areas knowing when, but also when not, to finance your new venture plans. Time 08.00 10.00 13.00 13.00 14.30 14.30 15.00

Program DAY 5 Case preparations, as needed Taking the Learnings Home. Closing luncheon at ESADE Wrap-up, followed by presentation of certificates. Closing Ceremony Ken Morse

W H O S H O U L D AT T E N D This Innovation and Corporate Enterpreneurship course is directed toward corporate intrapreneurs and tech startups interacting in an open innovation setting, responsible for building new businesses based on breakthrough technologies. It is also designed for managers responsible for new business model implementation, targeting sustainable long-term corporate growth, including: • Internal and External Venturing • New Business Development • Corporate R&D • Corporate VC • Incubators Since successful business development, intrapreneurship and venturing is based on the integration of several business activities, we encourage companies to send teams of 2 to 4 people with a cross-functional, interdepartmental background.

FACULTY Program Directors MARCOS GÓMEZ ESADE Lecturer in Innovation and Marketing Management. Specialist in corporate innovation, he has worked as R&D Manager, Industrial Manager and Assistant General Manager, of various companies. He focusses on expert methods for the exploration of opportunities, strategic project selection, and innovation creation. He is a founding partner of Orbita97 Innovation Company and Director of innovation process introduction programmes for groups of SMEs from the associations ASCAMM, ASEPRI, CEPTA. He has managed the creation of various technological incubators. Director and Co-founder of five tech start-ups. www.esade.edu/faculty KENNETH P. MORSE Serial Entrepreneur. Visiting Professor, ESADE Business School. Chair in Entrepreneurship, Innovation and Competitiveness, Delft University of Technology. Founding Managing Director, MIT Entrepreneurship Center. Chairman & CEO, Entrepreneurship Ventures, Inc. National Advisory Council on Innovation & Entrepreneurship (USA). Member Telefónica Disruptive Council. Member Citi SFS Advisory Board. Commercialization Advisor, Dynasil Corporation. Commercialization Advisor, Scottish Enterprise. New Zealand GNS Science External Expert Panel. MassChallenge, Board of Advisors. MIT Enterprise Forum Global Board. Member Barcelona HiT: The Hothouse of Innovation & Technology. Board of Advisors for several ambitious start-ups. Bachelor of Science, MIT; MBA, Harvard Business School. www.esade.edu/faculty

GUEST SPEAKERS LAURA MORSE Managing Director, Entrepreneurship Ventures Inc., Boston, MA, USA. 2009 Co-instructor with Professor Diane Burton, MIT Sloan School: “Designing & Leading the Entrepreneurial Organization”. Former Human Capital Partner, Atlas Venture: London, Paris, Munich, and Boston. Former senior executive with S.W.I.F.T. sc, Belgium. Prior twenty years as a Partner with Leading Global Executive Search Consultancies; Russell Reynolds Associates and Heidrick & Struggles in Chicago, Boston and Brussels. B.A. and graduate work, University of Iowa; Elected to Mortar Board. www.esade.edu/faculty ERIC ACHTMANN Managing Director in Global Capital Advisors GMBH, Independent advisory for corporate finance, investment, M&A, strategy and restructuring. Former Managing Partner for Polytechnos Venture- Partners GMBH, earlystage private equity/venture fund focusing on technology and life sciences. MS, Aeronautics & Astronautics and MBA, Finance. RICARD HUGUET Founding Managing Director, Invenio learn. by.doing. Former Innovation Director, City of Barcelona. BA, Pharmacy, University of Barcelona. Degree in Business Administration, Open University of Catalonia. MA, Management of Technology, MIT.

REGISTRATION DEADLINES & CANCELLATION POLICY

LOCATION Barcelona ESADE Business School Executive Education Av. Esplugues, 92-96 E-08034 Barcelona. Spain Tel. +34 932 804 008

Registration deadline: 14th November, 2011. Cancellations before 14th November are free of charge. Between 15th November and 22nd November € 2,300 will be charged. The cancellation fee after 22nd November is € 3,500. Without cancellation, at the beginning of the course the full amount will be charged. Substitutions within companies are permitted.

DATES From 28 November to 2 December, 2011 From 9:00 am to 22:00 pm th

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FEES € 8,900 € 7,850 ESADE Alumni € 7,900 per person for teams of 3 or more executives from the same company The Tuition Fee includes: • Five-day Innovation and Corporate Entrepreneuship course. • Course Book (including all Case Studies, Articles and Presentations). • Photo Book with full Contact Details of all Attendees for Future Networking. • Networking Reception, and Dinner, with Special Invited Guests: - Leaders of the Entrepreneurial and Business Community - Executives of the Local Innovation Ecosystem - Business Angels and Venture Capitalists • 5 nights 4* hotel in DUI room. • Study Tours. • Luncheons, Dinners and Coffee Breaks during the course days.

REGISTRATION PROCESS Registration should be made online by providing full company and contact details, as well as details of your motivation to attend the course. Your participation will be confirmed by e-mail from [email protected] [email protected] or [email protected] Register online: openinnovation.esade.edu www.cs4mc.com

It does not include travel and extra hotel expenses

FURTHER INFORMATION For further information, candidates may consult on any matter concerning the program or its admission process, arrange their personal interview and present their admission application by contacting: Our organisation, CS MC, Creative Specialised Management Consultancy, offers a wide range of services that cover almost every need an organisation and its executives may have .CS MC’s holistic approach to organisational issues makes it unique. CS MC’s philosophy concerning its approach is simply that for an organisation to exist, it must be restless and ever hungry and ambitious for better tomorrows. CS MC has extensive resources that enable it to offer the best to its clients in the Gulf, Middle East and North Africa. This is done in cooperation with international partner universities, specialists in all fields, practitioners and Organisation Development Consultants/Specialists from all over the world. www.cs4mc.com

Hiba Taja [email protected] Mobile +971(0) 561 594 222 Maria Birchall [email protected] Mobile +971 (0)561 596 222 CS4MC Po. Box: 36680 Abu Dhabi, UAE Tel. +971(0) 265 048 80 Mobile +971(0) 561 594 222 Fax +971(0)265 048 81

Montse Cañellas [email protected] ESADE Executive Education Av. Esplugues, 92-96 E-08034 Barcelona Tel. +34 932 804 008 Fax +34 932 048 105

www.exed.esade.edu Please note: program, faculty, dates and fee are subject to change. ESADE Business School also reserves the right to cancel this program if in its view the circumstances required for its successful completion do not apply.