The document discusses the key principles of a successful entrepreneurial ecosystem using Finland as a case study. It outlines that entrepreneurs must lead the ecosystem and have a long-term commitment. The ecosystem also needs to be inclusive and engage the full "entrepreneurial stack" including entrepreneurs, government, universities, investors, mentors and service providers. Universities play an important role as a catalyst, talent pipeline, source of ideas and policy recommendations. The Finnish ecosystem has been successful due to following these principles through groups like Aalto Entrepreneurship Society and Startup Sauna Foundation and the success of companies like Rovio and Supercell.

1. The Finnish Entrepreneurial Ecosystem
Will Cardwell
Senior Advisor, Entrepreneurship and Venturing
Visiting Professor, Venture Capital and Entrepreneurship
Co-Founder, Aalto University Center for Entrepreneurship
December 3, 2013
Mons, Belgium
FINLAND / SINGAPORE / POLAND / SOUTH KOREA / TAIWAN / CHINA / INDONESIA / SWEDEN / RUSSIA

2. All Credit to:
Aalto Entrepreneurship Society, Startup Sauna Foundation, www.slush.org
the breakthrough teams at teams of Rovio, Supercell and others,
and Brad Feld, Startup Communities, for the framework.
Plus Startup Weekend Helsinki, Mehackit and many others
Photos: Yu Shen and Slush photography team
December 3, 2013
© Aalto University Executive Education
2

3. Question:
Has the Finnish Startup
Community Broken Through?
December 3, 2013
© Aalto University Executive Education
3

4. Evidence from www.Slush.org and
the press…
December 3, 2013
© Aalto University Executive Education
4

5. December 3, 2013
© Aalto University Executive Education
5

6. Principles of a Vibrant Startup Community
The “Leaders and Feeders” Model, or
The “Boulder Thesis
Why Boulder? Ask Kauffmann Foundation…

7. Participants in Startup Communities
•
•
•
•
•
•
•
Entrepreneurs
Government
Universities
Investors
Mentors
Service Providers
Large companies
LEADERS
F
E
E
D
E
R
S

8. 4 Key Properties of
Successful
Startup Communities
December 3, 2013
© Aalto University Executive Education
8

9. 1. Entrepreneurs must
lead the Startup Community, and…
December 3, 2013
© Aalto University Executive Education
9

10. 2. The leaders must have a long-term commitment
December 3, 2013
© Aalto University Executive Education
10

11. 3. the Startup Community must be inclusive of ANYONE
who wants to participate
December 3, 2013
© Aalto University Executive Education
11

12. 4. and there must be continual
engagement of the entire
entrepreneurial stack! …
December 3, 2013
© Aalto University Executive Education
12

13. 4. yes, the whole stack…
December 3, 2013
© Aalto University Executive Education
13

14. !!!!
December 3, 2013
© Aalto University Executive Education
14

15. University Involvement in the
Growth/ Startup Ecosystem
ROLES
• A community catalyst: a nerve
center where the startup
community convenes and
information spills over• A magnet, teacher and pipeline
for the next generation of
entrepreneurial and technology
talent
• A source of insight, ranging from
innovative ideas that can be
commercialized to policy
recommendations
KEY CHALLENGE
• Cross-campus collaboration is
generally not in the DNA of the
university
• Aalto seeks to change
the game by building
close collaboration
across its community
Brad Feld, Startup Communities, 2013

16. A few observations about
Kymenlaakso and Mons…
December 3, 2013
© Aalto University Executive Education
16

17. Thanks!
Will Cardwell
Will.cardwell@aaltoee.fi
December 3, 2013
Mons, Belgium
FINLAND / SINGAPORE / POLAND / SOUTH KOREA / TAIWAN / CHINA / INDONESIA / SWEDEN / RUSSIA