highest valued startups

Ease of Doing Business World Bank Report

= measures (in 190 countries) regulations affecting 11
areas of the life of a business (RO- 36) :
- starting a business (RO- 62),
- dealing with construction permits (RO- 95),
- getting electricity (RO- 134),
- registering property (RO- 57),
- getting credit (RO- 7),
- protecting minority investors (RO- 53),
- paying taxes (RO- 50),
- trading across borders (RO- 1),
- enforcing contracts (RO- 26),
- resolving insolvency (RO- 49),
- labor market regulation (RO/-). 
1st place = N. Zeeland; 2nd = Singapore; 8th = US
• http://www.doingbusiness.org/~/media/WBG/DoingBusiness/Documents/Annual-
Reports/English/DB17-Report.pdf
 Innovation & Creativity in
the Entrepreneurial Process
 The role of Creativity
• Creativity is the
process of
generating new
ideas that lead to
an improved
efficiency and
effectiveness of a
system.
The 4 stages of creativity (K):
1. Preparation = collect background information & focus on the
problem or opportunity;
2. Incubation = reflect, review, process data & info;
3. Illumination = a sudden new idea is born in your mind… (Eureka!!!);
4. Implementation = develop a plan to test & implement the new idea.
 About…creativity (K):
• It is NOT necessarily a structured process!

• It is not necessarily logic!

• It is not a linear process!

• It is something spontaneous and often a random

process!

• It shows no respect for time and deadlines!

The two hemispheres of the brain:

The right brain hemisphere

helps an individual understand
analogies, imagine things, and
synthesize information.

The left brain hemisphere

helps the person analyze,
verbalize, and use rational
approaches to problem
solving.
PROCESSES associated with the 2 brain
hemispheres:

Left Hemisphere Right Hemisphere

• Verbal • Nonverbal
• Analytical • Synthesizing
• Abstract • Seeing Analogies
• Rational • Non-rational
• Logical • Spatial
• Linear • Intuitive
• Imaginative
 The best way to predict the
FUTURE is… to create it!!!
 Myths about creativity (K):
• "It's a magical phenomenon"!
• "It is the result of divine intervention!"
• "It's about mental illness"!
• "You have to be genius to be creative!"
• "K is a trait you are born with"!
• “In order to be K ... you need a muse '!
Creativity is a skill that you can learn,
practice and develop !!!
 Phrases that can “kill” K:
1. “Naah.”
2. “Can’t” (said with a shake of the head and an air of
finality)!
3. “That’s the dumbest thing I’ve ever heard.”
4. “Yeah, but if you did that . . .” (poses an extreme or
unlikely disaster case)
5. “We already tried that – years ago.”
6. “We’ve done all right so far; why do we need that?”
7. “I don’t see anything wrong with the way we’re doing it
now.”
8. “That doesn’t sound too practical.”
9. “We’ve never done anything like that before.”
10. “Let’s get back to reality.”
11. “We’ve got deadlines to meet – we don’t have time to
consider that.”
12. It’s not in the budget.”
13. “Are you kidding?”
14. “Let’s not go off on a tangent.”
15. Where do you get these weird ideas?”
We are "fat" of logic when reaching
adulthood but ...
out of shape in terms of K…
 Stimulating creativity:

• You have to get used to

think "differently", try to
see things differently, to
seek new relationships
between things and
people!

• Try to develop a
functional perspective, or
to watch how to meet the
needs of others!
 Methods &Techniques…
to stimulate K:
• Brainstorming;

• The “Little” Technique;

• The “Fresh Eye”

Method;

• The “Phillips 66”

Method.
 Lateral Thinking versus

Vertical Thinking

• Right Hemisphere • Left Hemisphere

• Divergent • Convergent
• Generative • Selective
• Illogic • Logic
• Provocative • Conservative
• Disorderly • Orderly
• Postpone evaluation • Implies Evaluation
• Error is acceptable • Errors are unacceptable
• PO - as instrument
• NO – as instrument
 The 6 “thinking hats”-
effective tool to substantiate the entrepreneur’s
decisions
(Edward de Bono)
 “THE SIX THINKING HATS TOOL”

This tool offers a

"parallel or
dissociated thinking“
according to 6 major
approaches of the
problem! It is about
seeking the best
solution in a more
productive way !!!
 Creativity versus Innovation
Creativity involves
"unleashing" the human
mind’s potential, by
generating new ideas.

Innovation involves the

implementation of new
ideas into practice; it is
about to give them
economic value.
 INnOVATion:
• The Process by which
entrepreneurs convert
opportunities into
marketable ides!

• It is more than just…

“a good idea”!!!
 The Innovation Types:
• Invention – totally new product, service or process
(light bulb/ T. Edison; Telephone/ A.G. Bell etc.);
• Extension = new use or different application for
an existing product, service or process (McDonalds,
Facebook etc.);
• Duplication = creative replication of an existing
concept (Pizza Hut, Walmart etc.)
• Synthesis = combination of existing
concepts and factors into a new formulation or
use (Fed-Ex; Starbucks etc.);
 Sources of Innovation:
• Unexpected
Occurrences;
• Incongruities;
• Process Needs;
• Industry and Market
Changes;
• Demographic Changes;
• Perceptual Changes;
• Knowledge-Based
Concepts.
European Innovation Scoreboard (EIS) 2018
https://ec.europa.eu/growth/industry/innovation/facts-figures/scoreboards_en

IUS distinguishes between 3 main types of categories (25

ind./8 dimensions):
- the enablers = the main drivers of innovation
performance external to the firm (3 dimensions):
Human resources; Open, excellent and attractive
research systems; Finance and support.
- firm activities = the innovation efforts at the firm’s
level, in 3 dimensions: firm investments; Linkages &
entrepreneurship; Intellectual assets.
- outputs = the effects of firms’ innovation activities in
2 dimensions: innovators; economic effects.
European Innovation Scoreboard (EIS) 2018

4 CATEGORIES:
– Innovation leaders: Denmark; Finland; Luxembourg; Netherlands
Sweden (EU leader); UK;

– Strong Innovators: Austria, Belgium, France, Ireland; Germany;

Slovenia;

– Moderate innovators: Croatia, Cyprus, Czech Republic, Estonia,

Greece, Hungary, Italy, Latvia, Lithuania, Malta, Poland,
Portugal, Slovakia and Spain;

– Modest innovators: Bulgaria, Romania.

In a global context, South Korea, the US and Japan all

have a performance lead over the EU. Among
European countries, Switzerland is the most
innovative one.
 3 Levels of Innovation:

• Incremental Innovation/ exp.

Parking sensors) - is unlikely to
provide a dramatic change in
business performance;

• Substantial Innovation/ exp.

Remote engine diagnostics) -
provide a competitive advantage
to the company developing them;
requires considerable investment
in the process and an effective
strategy for managing the
innovation;

• Radical Innovation/ exp. Hybrid

engine technology) - is frequently
technology based - the result of
long R&D exercises .
There are 3 generic innovation strategies:
• Pioneer: Focused on bringing new
and industry leading or
transformative technologies to
the market (Sony, 3M, Toyota);

• Fast Follower: Adept at
improving existing technologies
through incremental innovation in
both product and process
technologies (Korean car
companies and Chinese computer
manufacturers);

• Opportunistic: Makes some
investment in substantial
innovation but uses also innovation
sources from third parties and
invests in adapting these for its
identified markets (digital camera
and MP3 technology into mobile
phones).
The World’s most innovative companies
(2016)

1. Tesla Motors (Automobile Manufacturer/ US);

2. Salesforce (Application Software/US)
3. Regeneron Pharmaceuticals (Biotechnology/ US)
4. Incyte (Biotechnology/ US)
5. Alexion Pharmaceuticals Inc. (Biotechnology/ US)
6. UnderArmour (Appare, Accessories & Luxury
Goods/ US)
7. Monster Beverage (Soft Drinks/ US)
8. Unilever (Household Products/ Indonesia)
9. Vertex Pharmaceuticals (Biotechnology/ US)
10. Biomarin Pharmaceutical ((Biotechnology/ US)

https://www.forbes.com/innovative-companies/#1ebe8de41d65
 “Life Sciences Industry/ Sector/ Highly
Innovative Companies”
= companies whose business targets are one or more
of the following areas: biotechnology; pharmacy;
biomedical technology; technologies for life
systems; nanotechnology; Nutraceuticals
(Nutraceuticals), or pharmaceuticals with a role in
nutrition; "cosmeceuticals", etc. More briefly,
companies with concerns about organisms
(humans, animals, plants).

•   Although start-up capital is usually very high,

firms (often partnerships includ researchers,
institutes, etc.) in this sector are highly
innovative and have growth as a key strategy
(often targeting the global market).
 The 3 Best Life Science Companies with
Great Perks and Work Culture:
• Genentech (RHHBY), headquartered in South San
Francisco, Calif.

• Stryker (SYK) best known for its surgical supplies

(USA)

• Novo Nordisk (NVO) best known for a comprehensive

portfolio of products and delivery systems to treat
diabetes (Denmark).

(http://www.biospace.com/News/the-5-best-life-science-companies-with-great-perks/414706)