A learning programme for leaders

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Boosting Resilience: a 2-year learning programme for leaders – in the arts

The startup and scaleup world has seen a dramatic explosion, but there has been little or no support for the development of entrepreneurs and leaders of innovation. This is one such programme.

This is a programme – in a sector whose very essence is innovation – that aims to enable senior staff from England-based arts and cultural organisations, music education hubs, museums and library services, faced with difficult times (‘the new norm’), to develop new approaches to their work.

It is one of four new flagship projects supported by Arts Council England with the aim of inspiring and supporting the development and piloting of new approaches to ‘making the most of Creative Assets and Intellectual Property’.

It is being conceived and delivered by the Centre for Creativity in Professional Practice at Cass Business School, the Culture Capital Exchange and the Centre for Enterprise at Manchester Metropolitan University.

The programme is working with a cohort of 27 leaders, such as Directors or Chief Executives, from a diverse range of organisations across England. It aims to help participants to: recognise and seize opportunities, to deploy resources more strategically and imaginatively and to identify and mitigate risk, focusing on developing organisations’ thinking on their creative assets, their existing and potential intellectual property, and on their abilities to maximize these through working with wider sectors.

The longer-term aim is also to benefit the wider sector, creating materials and methods to anticipate and withstand economic, social, environmental and technological change.

The programme aims to create a unique environment in which to nurture approaches to resilience and leadership in the arts and culture sectors. It consists of three residentials that bring people together to develop skills and knowledge as well as to network and engage in peer-to-peer learning. It includes action learning sets, partner evaluation groups, peer-to-peer learning, walking, mentoring, bespoke workshops, one-to-one support and an online learning environment.

Participants’ interests and aspirations, derived from their applications, together with ideas generated in three ‘ideas pools’ each in a different part of the country, provided the themes for the first residential, just completed. It concentrated on established foundational knowledge and learning approaches. Four external speakers shared their expertise – of insights on creative assets, of problem solving styles, and intellectual property.

A combination of active and digital learning enabled individuals, small groups and the whole group to work collaboratively on individual’s issues; and material was regularly made available on the website.

The taught content consisted primarily of short briefings and debriefings around hands-on activities, introducing them to current learning methods while working on topics specific to their own interests.

Participants were also supplied with custom-designed reflective journals to keep during the event, and there is also a personal secure reflection space available digitally.

It was evidently a very inspiring week-end. The subsequent residentials take place in March and November, 2018. In between residentials, participants will have opportunities to meet individually with experts and programme staff and to take part in Action Learning groups – to help develop their ideas and plans.

John Whatmore, November 2017.

 

 

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A purposed accelerator – in public services

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Making use of external expertise to deliver innovations in public services. Innovationeers in the public sector have not shared the same raw enthusiasm for startups and scaleups as the private sector: they have come much later to the game.

I wrote last about Village Capital in New York, whose modus operandi is upside down, in that it starts with the identification of major issues and only then builds teams and finds resources to tackle those issues. In the UK, CivTech’s young programme is now doing likewise.

CivTech’s mission is simple: it is to support innovation in the public sector by creating an environment in which issues can be identified and new products and services developed – thus contributing to more effective and efficient public services.

Its second programme, just launching, aims to offer opportunities for entrepreneurs to ‘solve a challenge, build a product, develop a relationship and build a business with public sector benefits’, by engaging with a major public sector organisation.

This year’s programme has identified nine challenges provided by their public sector sponsors, of which seven will be tackled by the seven teams that have been selected for the programme. These include:

  • how to create a better booking system for outpatient appointments
  • how better to understand citizen data
  • how to provide better [internet] access to public services.

Applicants could be existing companies with relevant material, graduates, a digital team or just someone with insight or a good idea.

 Three potential solutions to each sponsor’s challenge go through to a 3-week Exploration Stage – to develop their idea further, to engage with the CivTech team and the Challenge Sponsor, to participate in some workshops, and then to make a final pitch – for which each team receives £3,000.

The CivTech Accelerator that follows is three months long (for which teams are required to relocate to Edinburgh) – of innovation, experiment, development and production; with workshops, talks and mentors; of team and business building; of product building; of developing real and lasting relationships with public sector organisations – for which each team will receive £17,000 (CivTech takes no equity nor IP).

The CivTech team provides specific advice about its approach to service design, product development, government standards and system integration needs.

 Sponsors are expected to set aside £106k for each challenge, of which £27k goes to the solution provider (as above), and the remaining £81k is for ongoing development of the solution. The Challenge Sponsor receives an in-perpetuity royalty free licence to enable the successful participant to further develop and test their work with a view to its exploitation in the sponsor’s services.

The website inviting applications is couched in very full and clear, and charmingly optimistic terms, though the exploitability of the proposals is uncertain.

Of the nine teams that had participated in Round 1, two had worked with the NHS and were confident of new business; two had worked with Transport Scotland, one with sales already and both with more to follow; and two of the nine reported that they were still working on future business. New businesses, a new platform, a new product and a new client were among the mentions in their final reports.

The small team that has conceived and evolved this programme sits in the Digital Directorate of the Scottish Government, which has not only backed and endorsed the programme but has recently doubled the amount of money behind it. And this work has attracted widespread interest.

John Whatmore, November 2017

For more see https://civtech.atlassian.net

Village Capital identifies issues and then builds teams to attack them

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Let’s try Village Capital’s proven model for tackling big problems in local areas

Since 2009, New York-based Village Capital has sought to tackle real-world problems in local areas, by using the principle of peer-selection, and investing and leveraging capital. It has sought to focus on big problems, and to tap directly into sources of expertise and of funding that relate to them.

Village Capital’s mission is to find, train and invest in entrepreneurs solving real problems. If MIT’s REAP works for entrepreneurship on a national scale (see www.johnwhatmore.com October 2016), VilCap works for it on a more local scale (see also my website Nov 2013).

It has concentrated on certain sectors, namely those that are about the essence of our future:

* access to opportunity for all communities (health, education and financial inclusion), and

* resource sustainability (energy and agriculture); and it has operated mainly in the US, sub-Saharan Africa, South Asia and Latin America,

It has several unique features:

  • it operates entirely by peer selection – of projects, methods and funding;
  • its projects have a sector specific theme that fits with local/regional strengths; and
  • it partners with any organisation that is committed to the same objectives.

Aside from the contributions to life in the places where it works, (which are effectively incalculable), it has supported over 500 ventures in 45 programmes, made 72 investments with a survival rate of over 90%, leveraged over $200mn of additional capital and created almost 10,000 jobs.

Examples include a company in Cincinnati which focused its programme on innovation in water; a company in Guatemala which focused on the future of its agriculture-based economy; and Philadelphia launched a financial technology programme building on its history of financial services R&D.

It is oriented towards social and public enterprise and its underpinnings, and bears little resemblance to the venture capital based model of the commercial startup world (with its idea-lite pop up entrepreneurs). And its methods run counter to the accepted wisdom of that world, in that it relies on expert entrepreneurs and collaborative working.

How do you find and train entrepreneurs are topics that currently concern Vilcap. The parallel here is: is the pool of lead investors/serial entrepreneurs big enough and/or sufficiently widespread; and how can the pool be grown. My work, supported by the then Department of Trade and Industry was clear but not easy to implement: they are essentially learners by experience! (Is failure a useful stepping stone?)

What better model could there be for the Scaleup Institute to espouse, and enable it to work with LEPs to revive the fortunes of run-down areas such as Grimsby, Toxteth or Tottenham?

John Whatmore, October 2017

A uniquely comprehensive development arena

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A UNIQUELY COMPREHENSIVE DEVELOPMENT ARENA Quite unlike most startup or scaleup programmes such as Techstars or Startupbootcamp (which tend to be short term injections), the programmes at Goldsmiths Centre are unique in that they aim to cover comprehensively all the stages and aspects of development for people in its field. The startup world needs something of this sort. 

The essence of the Goldsmith Centre is the professional training of goldsmiths. While these people are charmingly depicted as bespectacled, white-haired, elderly craftspeople, the skills and talents of the next generation are clearly an important target.

This training takes the form of a ‘community that works and learns together’ – a community of trainees, working goldsmiths and other interested parties – to help them grow and thrive; funded substantially by the Goldsmiths Company, and overseen by a Board of Trustees.

The Centre which opened in 2012, runs for budding goldsmiths a progressive series of programmes that are aimed at developing their future – for what will mostly be small craft businesses. Here are six of them:

* a one week programme of intensive workshops, seminars and talks called ‘Getting Started’ – for recent graduates in precious metals, which introduces its 30 participants to the basics of business.

* a one-year programme called ‘Setting Out’, which is currently home to 8 young goldsmiths, carefully chosen (this year from 30 applicants), who take part in a curated programme that aims to equip them with business, creative and product development skills.

* a one-year Foundation Programme in which 10 young goldsmiths are attached to the Centre and enabled to use its excellent working facilities.

* an appenticeship scheme, under which some 40 young goldsmiths are attached to ‘Masters’ and meet regularly at the Centre for further training.

* a membership scheme called ‘Creative Links’ for people with aspiring or established businesses to attend events and make and meet contacts at the Centre and a special membership scheme for craftspeople requiring ad hoc access to benches, hotdesking or a meeting room.

* and the Centre houses some 80 resident makers and businesses on the premises – on special terms as providing work collaborations for the goldsmiths who are connected with the Centre.

In addition to short courses on specialised subjects, the Centre has also created a number of videos and runs taster workshops; and there is a substantial programme of all sorts of events.

Some 50 craftspeople are linked to the Centre as providers of skill, tutoring, information etc; as are some 15 business people as contributors to the Centre’s business programmes.

The Centre houses the latest equipment and facilities into a meticulously crafted old building, and provides an atmosphere of spare elegance in which design, skill and beauty meld.

It includes spaces of all kinds: there are 24 professional workshops and 4 educational workspaces; tool rooms (one containing over 150 different kinds of hammer!); a CAD room with terminals; a conference room; a snug; a high quality café cum meeting space (depicted as ‘coffee, kitchen and craft’); and an area for exhibitions, conferences, product launches, receptions etc.

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In the startup world, training and development do not have a place: that world relies instead on ‘entrepreneurs’ to emerge spiritually. There is an urgent need for some organisation in the startup world to take up these roles.

John Whatmore, October 2017

Organising your venture’s supporters

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Organising your venture’s supporters Priscila Bala of Octopus Venture Capital, (formerly Mentor Director at the Yale Entrepreneurial Institute) has emphasised the value of advisers, and suggested how to set up and make good use of them.

Savvy enterprise start-ups understand the power of relationships. When it comes to entering new markets, gaining the support and endorsement of well-connected or local industry players can make all the difference. Advisory board members can fill knowledge and network gaps within your company or your own background – to help with product development or sales strategy or to introduce them to valuable clients, suppliers and investors.

An advisory board can be a bounty when you find the people who are experts at solving a set of problems you have, engage them with clear expectations and rewards, and turn to them whenever you have issues related to that problem. To find the right people, you have to be clear on what problems you want them to help you solve.

For example, Steve Blank [of I-Corps] suggests (1) that there are five primary types of advisory board members:

  1. Technical advisor: for product development advice
  2. Business advisor: for business strategy and guidance
  3. Customer advisor: for value proposition and positioning advice
  4. Industry advisor: for domain expertise
  5. Sales advisor: for market tactics and demand creation

Beyond these, it’s important that you identify the crucial challenges in your scaling up roadmap, to determine what kinds of advisors will be strategic to you, and which will complement your team’s skillset.

Go for ‘stars’! Advisory member relationships can work particularly well if the candidates you are courting are well-connected leaders in their space

Clarifying your objectives will also enable you to have you targeted conversations. For example, if your goal is to grow a base of customers in a particular vertical, try the following:

  1. Ask your customers or prospect customers who they respect.
  2. Ask your Board of Directors and industry connections for referrals.
  3. Have a point-of-view related to the industry, and build a profile and relationships based on your expertise.

If you are a first-time entrepreneur or an early-stage entrepreneur, there are often many apparent candidates but who won’t be valuable advisors for your business. Ask for referrals within the industry and spend time getting to know the advisor. Before formalizing any advisor relationship, ask for their input on a few demonstrative issues — how would they approach them? Who might they reach out to? What strategies have they seen in the past? What were the outcomes? Which risks do they anticipate?

Compared with Board members, you can focus the work and input of those advisors much more narrowly to their expertise, there is more flexibility on the time and level of engagement the advisor can offer and you can successfully engage a larger group of advisors within this mandate.

Most companies don’t engage their advisory board in meetings as a group; instead they reach out to specific advisors as needed, and set different frequency for those interactions.

Strong advisors are busy people. Since you likely will only have a limited amount of their time each week or month, be rigorous about setting agendas for each meeting or call, be explicit about actionable items between conversations (your action items and theirs), and send follow-up summary emails after every meeting. Some entrepreneurs find it helpful to use a running Google Doc shared with the advisor to keep track of ongoing notes together.

Ongoing feedback is another helpful tactic to successful advisor relationships. Mention to the advisor up front that you will want to spend 15–20 minutes in your third or fourth meeting talking through how the relationship is going to-date, and how you can improve your collaboration. Advisors are professionals, and should be receptive to feedback. Some relationships will work better with a set schedule of interactions; others might require more flexibility and unfold in “bursts” of support. Work with the advisor to find the style and cadence that works best for your partnership.

Compensate your advisors. In addition to aligning incentives and recognizing that expert time is valuable, compensation will make you more disciplined about the calibre of advice and support you are seeking and getting. It formalizes the professional relationship you expect from advisors, as it does your commitment to receiving their open and honest expert feedback, rather than having them tell you what you want to hear.

Advisory boards can be a powerful asset, accelerating your access to people and solutions that are key to your company’s success. Advisors can make strategic introductions, help you secure contracts or fundraise, attend strategic meetings with you, help you secure press coverage for your company or serve as a reference for your product or your work, and help you recruit other members of the advisory board or your team.

(1) My work at IdeaLondon came up with exactly the same analysis.

See the full article at: https://medium/octopus Ventures/how-advisory-boards…

John Whatmore, September 2017

 

 

Imperial’s vast new incubator

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Imperial White City to house vastly more space for young businesses

With four times more startups and scaleups than on its South Kensilngton site and on ten floors, managing collaboration among a wide spectrum of parties and across big spaces will be a new and hugely challenging task.

Imperial White City in West London consists in the development of a wholesale new university campus. Imperial, very much a leading university, long constrained by the shortage of space in its part of London, took an opportunity offered by property developments in White City to rethink the complete structure of university education.

The gap that has emerged between students and staff could be bridged, the thinking went, if it were possible to bring together – into a community – students, staff, alumni, local businesses and the local community.

One of the dozen or more buildings on the new site is, rather enigmatically, called the Translation and I-Hub; (another is the big new ‘maker’ space, about which I will write next). The aim is to create a ‘dynamic, enterprising environment that enables the translation of research outcomes into internationally significant technologies’, co-locating research capabilities with ‘allied [commercial] enterprises’.

The building will offer ‘spinouts, startups, SMEs, scaleups, established industry leaders’ about seven times more space than was previously available on the South Kensington campus (1) (ie it will house perhaps 250-350 businesses,) for incubation, grow-on and collaboration with corporates.

Of the 13 floors, three are already kitted out as wet labs/office spaces devoted to incubator grow-on use – with coffee/community areas, that will house around two dozen bioscience businesses (one floor will be for businesses in synthetic biology). And the other ten floors are open plan office space, (initial plans show no coffee/community areas), each of which could make an ideal incubator for a community of carefully matched young businesses. While access to experts in departments still at Kensington will of course be harder, the bioscience incubator has recruited its first alumnus (‘who has done it before’ ie built a big business from the ground) to work with its occupants. (2)

The new facilities, all shipshape, will be impressively modern, not least with all the latest communication facilities. In so far as more of the accommodation than in the past is oriented towards more mature startups, the offices anticipate a greater focus on the individual company and less on the centre as an innovation community; yet the essence of the new thinking lies in the unity of the community.

If cross-fertilisation is of increasing value, the proactive management of support will be vitally important. But it will be unusually challenging by virtue of the wide spectrum of the parties involved and the very large area of the accommodation.

John Whatmore, June 2017

  • The South Kensington Incubator was home in all to around 80 young businesses – 20 core SMEs plus 10 in cleantech and 10 in synthetic biology; some 30 were virtual/hot desk businesses, and around 10 were brand new startups.
  • Wayra Lab, Startupbootcamp and MassChallenge inter alia average 5 mentors per startup, some closely attached, others called up as their businesses evolve.

See also: New support for startups and scaleups in East London ENTIQ’s new innovation centre in the old Olympic Park will be a great new signpost but the peloton needs more than that: a new network is needed to spur incubators and co-working spaces to develop support services like this one – for the growing number of young businesses. (http://wp.me/p3beJt-gu)

STOP PRESS Imperial has just announced that it is seeking to recruit a Director of Entrepreneurship to lead its new Enterprise Lab.

John Whatmore, May 2017

 

France’s new Incubator

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France opens a giant new Incubator Aiming to attract in the next month a thousand young ventures to its halls, France’s vast new incubator (a refurbished train depot in Paris called Station F), has just been opened by President Macron (‘preaching to the choir’ as one correspondent called his speech’). It provides all sorts of spaces for young businesses that ‘have a business prototype and a path to growth’, together with other related organisations.

Station F is the brainchild of a French billionaire from the tech startup world and his project manager, a lady with a serious background in a variety of startups – who has focused on health, finance, education, and even fashion. It is supported by France’s increasing efforts to become second only to the UK in startups in Europe; and it is backed by Facebook and Amazon.

Its young ventures still face likely problems – in attracting talent, and around French attitudes to risk. Questions hang over the incubator itself and its sheer size, and the extent of the necessary eco-system in Paris. And later in their life they face France’s tough labour laws.

In 2014 the French government started a sprawling programme to support tech, in which 13 cities were designated hi-tech hubs; and it supports the growth of French startups in dozens of foreign cities. The French government has created numerous investment vehicles and offers loans and grants to fund startups and accelerators on easy terms. France has created a special tax status for innovative new companies; and Macron has pledged to do more about exemption form wealth tax and liability to capital gains taxes. ‘While more venture capital is flowing into France, the levels still lag Britain, Germany and Israel’; but France’s angel network is only a quarter the size of the UK’s, reports the New York Times.

The rationale for housing startups in incubators is that they have great opportunities to learn from their fellow travelers, and increasingly so from those in the same field as themselves. Claimed to be the largest incubator in Europe (and more than four times the size of Imperial’s new incubator at its White City campus – just completed, which is likely to take months to fill; see link below), making Station F into an effective growth community will itself be an innovative task for those who run it (like ENTIQ – see below.)

What makes Silicon Valleys’ eco-system so effective is perhaps the intimacy of interactions between early stage ventures and those with related expertise and experience. In Accelerators (and in some UK incubators), mentor cohorts are large and their management is proactive. But they take time to set up and are difficult to manage effectively (see link below – BioHub).

Facebook set up an artificial intelligence hub in Paris several years ago to recruit talented engineers at France’s elite universities; and is now anchoring a programme in Station F called Startup Garage, which will mentor every six months 12 budding tech entrepreneurs in health, education and other fields. In exchange for coaching, Facebook will observe how the startups approach issues like privacy, and identify cutting-edge tech trends.

Despite the gross hype around the grand Station F, one French citizen is reported as commenting: ‘France can definitely become a startup nation: the potential is there’.

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See on my website: johnwhatmore.com:

 Imperial White City to house vastly more space for young businesses With four times more startups and scaleups than on its South Kensington site and on ten floors, managing collaboration among a wide spectrum of parties and across big spaces will be a new and hugely challenging task. May, 2017. (http://wp.me/p3beJt-k0)

Making science deliver: BioHub – an outstanding new Incubator BioHub has been assiduously building programmes of support and development for research based businesses.  June, 2017 (http://wp.me/p3beJt-k4)

 New support for startups and scaleups in East London ENTIQ’s new innovation centre in the old Olympic Park will be a great new signpost but the peloton needs more than that: a new network is needed to spur incubators and co-working spaces to develop support services like this one – for the growing number of young businesses. Sept, 2016. (http://wp.me/p3beJt-gu)

John Whatmore, July 2017