How to Make Ideas Bloom Breakfast – 18 May

REPOST: Story by Annalise Pennisi for Real World Futures

Organisations are changing the way they work in order to harness their employees’ big ideas and stay competitive in today’s global marketplace.

Dr Henri Burgers, a Senior Lecturer in Business and Management at QUT, said the trend of corporate entrepreneurship was about adapting business structures to support new ideas from employees.

“In terms of disruption, I think organisations increasingly realise that if they want to be able to deal with that kind of disruptive innovations and those kind of big changes … they need to be able to tap into the entrepreneurial spirit of their employees,” he said.

The role of corporate entrepreneurship will be the subject of a Real World Conversation at QUT on May 18. The conversation, Making Ideas Bloom will feature speakers from industry and QUT’s Australian Centre for Entrepreneurship Research.

Dr Burger said studies showed that at any given time, about 6% of the adult population, most of whom are in working environments, are starting a business.

“If you apply that to an organisation … say it has a hundred thousand employees – that means that at any given time, about six thousand of those employees are working on a new business idea or an entrepreneurial idea,” he said.

Research carried out around the world showed that about two-thirds of people started a business  highly related to their current organisation.

“There’s a lot of anecdotal evidence that they often want to contribute this to their organisation but somehow they found roadblocks,” he said.

“(It might be) A manager that says, ‘No, focus on your current work.  No time for fiddling around with new ideas’.”

Firms are increasingly contracting employees for short-term projects as a way of engaging and enhancing corporate entrepreneurship.

“Even if it’s not about starting your own business, it’s about managing your career in an entrepreneurial way that you’ll be able to self manage these kinds of projects and new ideas.”

Dr Burgers said organisations tended to invest large amounts into few ideas and were generally good at predicting the outcomes of these investments.

The challenge with more disruptive or radical innovations is that they are much more unpredictable.

“We don’t know now what’s going to come out and if you apply that same approach, you’re very often wrong.”

“The challenge for orgnisations is to find ways to almost play that numbers game better.”

He suggests Lean Startups as a way of experimenting with many different ideas at low costs and the ones that succeed, the firms can take to the next level.

“If there’s all these would be entrepreneurs in your organisation, you can tap into those and some of those will be very good ideas.”

Hear more at the next Real World Futures  event – How To Make Ideas Bloom Breakfast on Wednesday 18 May 2016.  Learn more about the event and register here.

QUT ACE – Creating A More Entrepreneurial Organisation In Three Steps – watch the video

video storyboard

Read more news from ACE here

Breaking the Barriers to Student Entrepreneurship

Republished with the permission of the authorTim Hui, President of Fellowship of Medical Engineers & Student Ambassador at QUT.  Photography credit to Marvin Fox Photography.

May 31 saw a close to the Startup Hatch program, with a finale Showcase Event. Startup Hatch was a program planned over a period of 4.5 months, that kicked off on March 2nd and concluded on March 31st that gave university students the opportunity to turn ideas into reality.

Students were encouraged to submit their idea at the start throughout January – February and pitch at Startup Hatch Launch for input and co-founders who could bring new and contrasting skillsets to their team. Startup Hatch Launch saw the formation of 13 teams and by the end of March, there were 19 teams taking part in the program. There were 15 partners, including leading companies to give students a unique insight and develop the core aspects of entrepreneurship and starting a business.

The final day of Startup Hatch, the Showcase, was ultimately a success with 9 of the teams willingly pitching to a panel of three judges and an audience of over 150 people. Read more

The Business Model Generation – Value Proposition Design

As previously advised, Professor Professor Yves Pigneur – co-inventor of the Business Model Canvas – gave a public ACE presentation at QUT on 27 March 2015. At the event, Yves, introduced new tools for Value Proposition Design from his new book by the same name. Yves has now provided us with a slide deck of Value Proposition Design, which we can share with you. Please find it here.

Dimensions of Innovation presentations now available online

On 17 October 2014, QUT was pleased to host two of the world’s leaders in innovation and entrepreneurship research, Harvard Business School Professor, Josh Lerner and Professor Adam Jaffe.

This event explored how government policy can support firm and industry innovation; the capabilities organisations require to respond to turbulent environments; and how entrepreneurs recognise and pursue opportunities through the formation of new independent or corporate ventures. The presenters were Harvard Business School Professor and head of the Harvard Business School Entrepreneurial Management unit, Professor Josh Lerner, and Professor Adam Jaffe formerly at Harvard and now Director of Motu, New Zealand’s leading non-profit economic and public policy research institute. This sharing of their world leading research on entrepreneurship and innovation was followed by QUT led panel discussion.

you tube small     Professor Josh Lerner

you tube small     Professor Adam Jaffe

you tube small     QUT Panel Discussion

Small Business Week presentations now available online

The Australian Centre for Entrepreneurship Research at the QUT Business School hosted three events to inspire and build business as part of 2014 Queensland Small Business Week, an initiative supporting and celebrating the important role of small business in the Queensland economy.

Presented by Professor Per Davidsson, Director, Australian Centre for Entrepreneurship Research, and Dr Scott Gordon, Research Fellow, Australian Centre for Entrepreneurship Research: This seminar reports some main findings from the Comprehensive Australian Study of Entrepreneurial Emergence, which is the largest study of business start-ups ever undertaken in Australia.

Well over a thousand emerging and young firms were followed over a six-year period. Four doctoral dissertations; eight reports to the federal Department of Industry, and a range of other works have been written on the basis of this project. The seminar will cover the dos and don’ts of business planning; low-cost strategies to start a business; the challenges of innovation; more vs. less successful start-up processes, and a number of other topics.

 you tube small     The creation process: What works and doesn’t work for Australian start-ups?

you tube small      Small Firm Growth: Lessons from systematic research

you tube small      Entrepreneurship in Australia

QSBW – a busy time for ACE !

2014 Queensland Small Business Week (September 1-5) was a busy time for ACE, with lots of external exposure and great networking. It started on the Monday with the high profile event “Are You a Business Tiger?”, organised by the Small Business Minister’s office, in QUT’s exquisite “Room Three-Sixty”. ACE Director, Per Davidsson, was one of the key presenters-panelists, along with Dhruba Gupta, Paul Niederer, Kit Kriewaldt and Emily Jade O’Keeffe.  Per’s speech was one of “encouragement and caution” – based on research – in relation to canonising the most rapidly growing firms in the economy. The event was also streamed to over 700 participants in regions throught out Queensland.  The Queensland Minster for Tourism, Major Events, Small Business and the Commonwealth Games, Honourable Jann Stuckey MP, closed the plenary part of the event. This was followed by roundtable sessions, many of which were facilitated by ACE and QUT Business School affilates, Paul Steffens, Rowena Barrett, Stephane Tywoniak, John Polichronis, Sukie Sawang, Sandeep Salunke, Tonis Mets, Julienne Senyard and Deb McGregor. Read more

You are invited to join the 2014 Queensland Small Business Week celebrations!

The Australian Centre for Entrepreneurship Research at the QUT Business School will host three events to inspire and build business as part of 2014 Queensland Small Business Week. 2014 Queensland Small Business Week from 1-6 September is a Queensland Government initiative supporting and celebrating the important role of small business in the Queensland economy.

You are invited to attend all or any of these events, registration is essential to secure your place:

Small Firm Growth – Lessons from systematic research

Presented by : Professor Per Davidsson, Director, Australian Centre for Entrepreneurship Research

What is gained and lost when a firm grows larger? Where do “high growth firms” come from; what challenges do they meet – and are they able to sustain their growth over time? What risks and opportunities are associated with different forms of growth, such as domestic vs. international expansion; organic vs. acquisition-based growth; “mere” volume expansion vs. growth through new products and new markets? When should and should not sales growth be accompanied with internal growth in personnel? Last but not least – how are growth and profitability related? Do firms become profitable as a result of their growth, or is it the other way round? During the last 20 years a lot has been learnt from systematic, large-scale research about the drivers, forms, and consequences of growth in small firms. This seminar summarizes some of the highlights in an accessible and entertaining form.

Date: Wednesday 3 September 2014
Time: 1:30 to 2:30 pm
Venue: Gibson Room, Level 10 Z Block, QUT Gardens Point Campus, 2 George Street, Brisbane 4000
Cost: Free
Register to attend

The business creation process: What works and doesn’t work for Australian start-ups?

Presented by: Professor Per Davidsson, Director, Australian Centre for Entrepreneurship Research, and Dr Scott Gordon, Research Fellow, Australian Centre for Entrepreneurship Research.

This seminar reports some main findings from the Comprehensive Australian Study of Entrepreneurial Emergence, which is the largest study of business start-ups ever undertaken in Australia. Well over a thousand emerging and young firms were followed over a six-year period. Four doctoral dissertations; eight reports to the federal Department of Industry, and a range of other works have been written on the basis of this project. The seminar will cover the dos and don’ts of business planning; low-cost strategies to start a business; the challenges of innovation; more vs. less successful start-up processes, and a number of other topics.

Date: Thursday 4 September 2014
Time: 1:30 to 2:30 pm
Venue: Gibson Room, Level 10 Z Block, QUT Gardens Point Campus, 2 George Street, Brisbane 4000
Cost: Free
Register to attend

Entrepreneurship in Australia: How does our start-up activity hold up against other countries?

Presented by: Associate Professor Paul Steffens, Deputy-Director, Australian Centre for Entrepreneurship Research

Australia is not Silicon Valley –but neither is 99% of the US! How does Australia’s level of entrepreneurial actually fare in comparison with other countries? What is the rate and quality of new business formation compared to relevant other countries? Are women, immigrants and different ethnic groups over- or under-represented—and how does their representation compare internationally? Looking beyond small, independent start-ups: Is Australia high or low in “producing” self-made billionaires who created their fortunes based on business activities? What about entrepreneurial initiatives among employees in established businesses? Various types of research actually points a rather bright picture of the state of entrepreneurship in Australia, and even if there are things that could be improved we should perhaps think twice about thinking and saying that everything is much better elsewhere.

Date: Friday 5 September 2014
Time: 1:30 to 2:30 pm
Venue: Gibson Room, Level 10 Z Block, QUT Gardens Point Campus, 2 George Street, Brisbane 4000
Cost: Free
Register to attend

 

These research-informed events hosted by the Australian Centre for Entrepreneurship Research at the QUT Business School are open to business owners, industry, and policy makers interested in the growth of entrepreneurship in Australia. Small business is vital to Queensland’s economy, representing approximately 95 percent of all Queensland businesses and employing almost half of the state’s private sector workforce. These events are designed to provide information that will inspire the entrepreneurial ecosystem and provide networking to build and grow businesses.

For more information about the presenters and the Australian Centre for Entrepreneurship Research visit www.qut.edu.au/business/ace

2014 Queensland Small Business Week is being delivered by the Department of Tourism, Major Events, Small Business and the Commonwealth Games. For more information on 2014 Queensland Small Business Week visit www.business.qld.gov.au/smallbusinessweek

small business week logo

 

The Role of Entrepreneurship Education in Regional Development

Marcello Tonelli_China

Qīnzhōu is a municipal region in Guangxi, and one of the few areas in China expected to experience a rapid growth over the next 5 years. It is also home of the China-Malaysia Qinzhou Industrial Park, which is set to be a new platform, new engine of growth and new highlight for China-ASEAN cooperation.

During a visit at Qinzhou University Dr. Marcello Tonelli discussed higher entrepreneurship education as a fundamental component of regional economic development strategies. A comparison of cases in Italy, Australia, and China highlighted how a dialogue between university and local businesses is a key aspect in ensuring that skills development moves hand-in-hand with the needs of local entrepreneurs and society at large. Far too often, education lags behind what the economy requires and research is confined at reporting what occurs in the industry, rather than proactively informing practice with new concepts and ideas.

Participants at the meeting acknowledged that the education system can no longer be only responsive to economic and social needs. Universities around the world are facing a crisis, where the value of degrees is rapidly declining and new generations of students consider whether self-taught subjects are in fact more up-to-date, relevant, effective, and of course cheaper than what universities can offer. If we believe that universities can still play an important role in the development of an individual as well as that of an entire region, we need to think differently. Job security is no longer ‘real’, hence individuals across all industry sectors require additional − entrepreneurial − skills that can help them embrace uncertainty, think more creatively, and continually innovate themselves (i.e. awareness of an entrepreneur’s career options). The way entrepreneurship is to be taught also needs to evolve. There is no more space for courses that are rigidly structured, teaching material has to be regularly updated, and, above all, mode of delivery has to include hands-on modules.

Many thanks to Dr. Marcello Tonelli, Collaborative Researcher with ACE, for contributing this story.