Aachen Entrepreneurship Center at RWTH Aachen University building synergies between research, teaching and practice
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1 Aachen Entrepreneurship Center at RWTH Aachen University building synergies between research, teaching and practice Andreas Müller Aachen, October
2 Agenda I. Entrepreneurship at RWTH Aachen University II. Aachen Entrepreneurship Center III. Synergies between Teaching, Research and Practice IV. Outcomes achieved future agenda
3 Aachen Entrepreneurship has its tasks in teaching, research and practice Entrepreneurship at RWTH Aachen University Teaching Research Practice
4 Three integrated teaching modules build the theoretic background for the creation of entrepreneurial spirit at the RWTH Aachen Entrepreneurship at RWTH Aachen University (1) Introduction to Business Administration (2) Entrepreneurship I Entrepreneurship II Further classes: -Showcasing & Negotiating -Siemens E-Cup - Case studies (3) Entrepreneurial Marketing Entrepreneurial Finance RWTH Aachen Spin-Offs
5 The research agenda contains various entrepreneurial topics which are researched in close cooperation with selected partners Entrepreneurship at RWTH Aachen University Core Question How does the generation of new business look like in different functions (e.g., marketing, finance)? How should entrepreneurial teams be composed? How do entrepreneurial phenomena differ across different cultures and nations? Selected Topics - Market orientation in different national cultures: antecedents and performance outcomes - Cross-functional integration for new product success - Sales force organization in new entrepreneurial ventures - Examination of effectuation processes in foundations Select. Partners Prof. Shaker A. Zahra, Prof. Saras D. Sarasvathy Publications in - Journal of International Entrepreneurship - Journal of International Management - Journal of Product Innovation Management, etc
6 Agenda I. Entrepreneurship at RWTH Aachen University II. Aachen Entrepreneurship Center III. Synergies between Teaching, Research and Practice IV. Outcomes achieved future agenda
7 The Aachen Entrepreneurship Center supports every phase of the business start-up process through its coaching, events, workshops etc. Aachen Entrepreneurship Center Pre-Seed phase Seed Technology Idea generation Idea evaluation Business model Funding Operations Idea Local Heros ATEC* I2P idea competition Prepare! Workshops Concept Creation Start-up training BP Workshops BP Competitions Team Matchingpool Personality test Matching workshops Funding Governmental Support Programs Business Angel (BA-Day) Venture Capitalists Network Technology Expert Patent agent Market Expert Business Consultant Tax Consultants Lawyers * Aachen Technology Entrepreneurship Conference
8 Founder activation in close cooperation with Lehrstuhl WIN Aachen Entrepreneurship Center Activities Examples Lecture Teaching across disciplines Business simulation with more than 700 participants per year (EBWL) ATEC 2009 Conferences & Competitions Aachen Technology Entrepreneurship Conference (more than 200 attendants) Idea to Product Europe (I2P) competition with 12 Teams from all over Europe Activities Local Heroes presentations Workshops on selected topics Starter Kit "Starter Kit" for new professors and research staff Slide 8
9 Individual coaching is a key element of AEC s product offering Aachen Entrepreneurship Center Activities Examples Direct coaching Personal Coach at the moment app. 30 teams Enabling access to financing Support on applications for EXIST-GS and EXIST-FT, other grants Contact to business angels, banks, VCs Team-building and matching Helping to complement the team Personality test in order to identify and analyze the strengths and weaknesses of each team member in order to optimize fit EXIST- Gründerstipendium Up to 3 founders Innovative products and services 800 / months for students 2,000 / months for alumni 2,500 / months for postdocs 10,000-17,000 miscellaneous expenses 5,000 for coaching Duration: 1 year EXIST- Forschungstransfer Scientific teams Technologies with relatively long time to market (proof-ofconcept) Financial support for 3 team members, business guy after 12 months 50,000 miscellaneous expenses, thereof 10,000 for coaching Duration: 18 months Slide 9
10 Agenda I. Entrepreneurship at RWTH Aachen University II. Aachen Entrepreneurship Center III. Synergies between Teaching, Research and Practice IV. Outcomes achieved future agenda Slide
11 New findings in the entrepreneurial research stimulate teaching methods and leads vice versa to new stimuli in the research area Synergies between Teaching, Research and Practice Teaching Research Synergies between teaching and research Teaching Research Interactive project work and discussions during teaching sessions lead to new perspectives and new topics in the research area Research Teaching New theories from the entrepreneurship research are applied to teaching and further developed (e.g.effectuation in teaching and practice)
12 Intense cooperation between teaching and practice enhances the entrepreneurial spirit at the RWTH and in the Aachen area Synergies between Teaching, Research and Practice Synergies between teaching and practice Teaching Teaching Practice The teaching modules impart critical knowledge to the practitioners in various fields of the start-up process and could be seen as the theoretical background for the successfull entrepreneurs Benefits for founders: creation of product concepts (Entrepreneurship I) or the development of business plans (Entrepreneurship II) by student teams Practice Practice Teaching Business cases and entrepreneurial challenges being discussed in the teaching sessions are coming live from the entrepreneurial practice
13 Practical challenges of entrepreneurs stimulate the research agenda and new findings are applied to the practice Synergies between Teaching, Research and Practice Synergies between research and practice Research Practice New findings from the entrepreneurship research are tested in project groups (e.g. team tests) and getting further developed within the practice Research Practice Research Practical challenges lead to increased research efforts in specific fields (e.g. initial customer analysis or pricing) Practice
14 Aachen Entrepreneurship has its tasks in teaching, research and practice Synergies between Teaching, Research and Practice Teaching Research Practice
15 Agenda I. Entrepreneurship at RWTH Aachen University II. Aachen Entrepreneurship Center III. Synergies between Teaching, Research and Practice IV. Outcomes achieved future agenda
16 The Aachen Entrepreneurship Team consists of about 30 lecturers and researchers Outcomes achieved future agenda
17 The continuous support of AEC pays off for the entrepreneurs Outcomes achieved future agenda Businessplan competitions: VAWTix: 1st place AC² 2009, 1st place NUK 2009 Founder: Per Christian Steimle, Prof. Dr. Wolfgang Schröder, Markus Marnett Idea: Innovative wind turbine (vertical rotator) SelocDrive: 3rd place AC² 2009 Founder: Mirko Kleingries, Christoph Welsch, Matthias Görke Idea: innovative engine for solar panels Verkehrsmittelvergleich: 2nd place NUK 2009 Founder: Johannes Grassmann, Veit Blumschein Idea: Metaplatform for travel inqueries Cobocards: 1st place Start2Grow 2009 Gründer: Idea: Online file card learning system Financing Exist-Gründerstipendium Number of projects: 11 Financing volume each: ,000 Exist-Forschungstransfer Number of projects: 1 Financing volume each: ,000 HightechGründerfonds Number of projects: 1 Financing volume each: 500,000 + several projects in pipeline Slide 17
18 Maintaining the constructive collaboration between teaching, research and practice could be seen as the toughest challenge Outcomes achieved future agenda
19 In case of any question, please do not hesitate to contact us! Andreas Müller Aachen Entreneurship Center Templergraben Aachen Germany Tel: Fax: Mail: Web:
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