VentureLab Twente for high-ambition techno starters !

If you want to start your own high-tech, high-growth business, than VentureLab Twente might be a good way to realize your ambitions as entrepreneur. VentureLab Twente is a combined project of:  (1) University of Twente; (2) Nikos, Dutch Institute for Knowledge Intensive Entrepreneurship; (3) Saxion Hogescholen; (4) Kennispark (“Knowledge Park”) Twente.

Yesterday VentureLab Twente organized a meeting on the High Tech Campus in Eindhoven, to present the concept, the model and underlying rules & assumptions. The figure below provides a schematic overview of the design of VentureLab Twente.

Nikos researcher Dr. Constantinidus provides a nice summary of Venture Lab Twente on his Weblog:

The mission of the Lab is to help “ techno-starters” and knowledge-intensive businesses to enter the market and succeed. … At VentureLab Twente, entrepreneurs work in teams to develop a successful high-tech company. Participants receive support from academics, consultants and students from the entrepreneurial University of Twente and the Saxion Universities of Applied Sciences Seminars by internationally renowned trainers, carefully planned personal coaching, access to newly developed technologies, access to a network of international companies and last but not least access to venture capital are some of the elements of the VLT approach. [ref02]

The high ambition of the program is reflected by the expected outcomes, among which the start of 210 companies (58%) -including 30 high potential companies (8%)- from the 360 participants at the start of the program. Furthermore the expected results after 5 years are 157 companies (75%) who have survived, including 15 high-growth companies (50%). During the meeting we had a discussion about this high percentages. [ref03]

However the “entrepreneurial” University of Twente has more than 25 years of experience in this field, and there are parts of the VentureLab program already running in a stand-alone setting. The percentages are therefore based on best practices and experience. Furthermore VentureLab Twente provides every nessesary support for techno-starters, which should result in this high survival rates.

(Corporate) Entrepreneurship might also be a good form for developing new innovations in the market, and could be a way of thinking to deal with the current problems as the result of the financial crisis. If you are an entrepreneur-with or without an idea-, please check out the website and register there for one of the informational meetings or apply directly to the VentureLab Twente program. With Aard Groen as main driver of this project, and on of the most inspiring people within the School of Management and Governance Faculty this project should become a huge succes, both in terms of practical outcomes as well as contribution to scientific theory.

Reference list:

1. HOME:  VentureLab Twente
2. NIKOS STAFF: Dr. E. Constantinides Weblog
3. SLIDES:  VentureLab Twente promotional meeting 08-12-2008