资料介绍:
（由中国营销网从原文中摘取得到，仅供参考）
Exhibit 2
KEY FACTORS FOR SUCCESS OF INNOVATIVE START-UPS
Ideas
. Degree of
innovation
. Scope
. Patent
Capital
. Availability/amount
. Needs/
responsibilities
. Exits for investors
People
. Inventors
. Entrepreneurs
. Team
members
Traditional service
providers
. Attorneys
. Patent lawyers
. Tax consultants/
accountants
. Market
researchers
Network and exchange
. Coaching
. Networking
. Team building
. Innovative service provider
–Venture capitalists
–Headhunters
–Angel investors
–High-tech start-up
consultants
1. THE ROUTE FROM CONCEPT TO
COMPANY
New, innovative companies generally try to grow from start-ups into established companies
within 5 years. But they can seldom finance their activities alone along the way. Rather, they
are dependent on professional investors with considerable financial clout. For entrepreneurs,
financing is a critical question – the business plan must thus be considered from the point of
view of potential investors right from the outset.
1.1. Success factors
Successful companies arise from a combination of five elements (Exhibit 2).
1. No business concept, no business
Having an idea is just the beginning of the creative process. Many entrepreneurs are initially
infatuated with their inspiration, losing sight of the fact that their idea is the point of departure
for a long process of development which must face – and withstand – tough challenges before it
can enjoy financing and market success as a mature business concept.
2. Money matters
Without somebody who invests money into the idea to grow it into a viable business, this
business will never become a reality. From early on, therefore, much attention must be paid to
convincing investors to provide the necessary funding.
3
Exhibit 3
STAGES OF START-UP DEVELOPMENT
Business idea
generation
Business plan
preparation
Start-up
and growth
Established
company
Interest of
investors
Financing
decisions
Exit of
initial
investors
3. No entrepreneurs, no enterprise
Growing new firms is not a one-person job. It can only succeed with a team of, usually, three to
five entrepreneurs whose talents are complementary. Putting together well-functioning teams
is a difficult process – one that takes time, energy, and an understanding of human nature. Do
not lose any time in putting your team together and work on perfecting it throughout the entire
start-up process. The characteristics of a high-performance management team are discussed in
more detail in section 6.3 of this Guide.
4. Traditional service providers will help you clear the first hurdles
You will often need the advice of professional service providers, such as patent lawyers, tax
advisors, and market researchers - especially at the beginning. Getting the right information
early (e.g., for registering a patent) can have consequences for later success or failure.
5. Strong networks are a "shot in the arm" for every new company
Professional guidance for potential entrepreneurs through a network of sponsors, entrepreneurs,
venture capitalists, and service providers is decisive in transforming viable ideas into real
companies. Prime examples for such regional networks can be found in Silicon Valley and the
Boston area.
1.2. Stages of development
The typical progression of the start-up and development of growing companies into established
firms can be subdivided into three stages. The end of each stage serves as a milestone for
venture capitalists by which to gauge the status of their investment. Being familiar with each
stage and the challenges it poses may spare you wasted energy and disappointment. Please
note, however, that the three stages in the development of a functioning start-up do not match
the three phases in the development of a business plan within the framework of this
competition (see Exhibit 3).
If you intend to be successful, this start-up process should influence both your activities as the
initiator of a business concept and your path toward forming your own company. To a large
extent, it is the demands of investors that will determine how you must approach the individual
stages of the start-up.
4
Stage 1: Business idea generation
The beginning is the inspiration – your solution to a problem. It must be evaluated to
determine if it delivers an actual customer value, whether the market is big enough, and just
how big it will be. The idea itself has no intrinsic economic value. It acquires economic value
only after it has been successfully transformed into a concept with a plan and implemented.
You will need to start putting together your team as soon as possible, finding partners who can
develop your product or service until it is ready for market (or at least until shortly before). In
the case of products, this stage usually involves a functioning prototype. You will most likely
have to do without venture capital during this stage. You will still be financing your plan with
your own money, help from friends, perhaps state research subsidies, contributions from
foundations, or other grants. Investors refer to this as "seed money," as your idea is still a
seedling, not yet exposed to the harsh climate of competition.
Your objective at this stage is to present your business concept and market – which forms the
foundation of your new company – so clearly and concisely as to pique the interest of potential
investors in helping you cultivate your idea further.
Stage 2: Business plan preparation
