Experiences from teaching: Presenting a value co-creation model comprising students, firms and university in education. Case: Growth Entrepreneurship Education in Aalto University.

1. Experiences from teaching:
Value co-creation model for students,
firms and the university in education
Case: Growth Entrepreneurship Education in Aalto University
Olli-Pekka Mutanen
Aalto Ventures Program & EIT Master’s Programme
in ICT Innovation

2. Biography: Olli-Pekka Mutanen
• CURRENT: Professional background and societal activity
– Leading the Software Business Lab research group @ DIEM, School of Science, Aalto
– Aalto Ventures Program, founding team member and lecturer
– Entrepreneurship & Innovation Minor of the EIT Master’s Program, coordinator & lecturer
– National Growth Forum (www.kasvufoorumi.fi), member of the steering group
– Consultation and lecturing on technology based growth, ecosystems and business
• BACKGROUND: Founder and CEO of IT and new media firms (1991-2004)
• MULTILIZER, Inc. 1998-2004, Co-founder, CEO and Member of the board
– Multilizer was the market leader in software globalization technology platform solutions for
internationally operating enterprises.
– Company won "The Best Globalization Technology of the Year" award three times in 2001, 2002 and
2003 in the U.S
• HYPERHOUSE Group: 1995-2000, Co-founder, Director of projects
– HYPERHOUSE was among the top-three “new media" offices in Finland producing corporate wide
multimedia solutions and internet services to the leading enterprises and organizations in Finland
• INNOVIEW Data Technologies 1991-2000, co-founder, CEO and member of the board
– Development of software based technologies and solutions, such as image compression and archiving
technology solutions, multimedia development tools, POS systems, online based real estate solutions.
• CONTACT: olli-pekka.mutanen at aalto.fi

3. There are new challenges in
education - why and what
kind of?

4. (Source: New York Times, 30th of March, 2013)

5. ”Need a Job? Invent It”
• Tony Wagner, the Harvard education specialist says:
“…college tracks are not consistently adding the value
and teaching the skills that matter most in the
marketplace.”
• He is seeing his role as a translator between two “tribes”:
the education world and the business world – “people
who teach our kids” and ”people who give them jobs”.
• Seeing that as dangerous at a time when ”there is
increasingly no such thing as a high-wage, middle-
skilled job”
• Now there is “only a high-wage, high-skilled job”.
Source: New York Times, 30.3.2013

6. ”Need a Job? Invent It”
• ”Every middle-class job today is being pulled up, out or
down faster than ever. That is, it either requires more skill or
can be done by more people around the world or is being
buried - made obsolete - faster than ever.”
• The goal of education today should not be to make every
child “college ready” but “innovation ready” - ready to
add value to whatever they do.
• Today, because knowledge is available on every Internet-
connected device, what you know matters far less than
what you can do with what you know.
• The capacity to innovate — the ability to solve problems
creatively or bring new possibilities to life — and skills like
critical thinking, communication and collaboration are far
more important than academic knowledge.
Source: New York Times, 30.3.2013

7. ”Need a Job? Invent It”
• Our generation had it easy: We just got to “find” a job. But,
more than ever, our kids will have to “invent” a job.
• Every young person will still continue to need basic
knowledge, but they will need skills and motivation even
more.
• Of the all education goals, “motivation is the most critical”
– Young people who are intrinsically motivated — curious, persistent,
and willing to take risks — will learn new knowledge and skills
continuously.
– They will be able to find new opportunities or create their own - a
disposition that will be increasingly important as many traditional
careers disappear.”
Source: New York Times, 30.3.2013

8. Motivation is critical for learning.
Where to get it in high-growth
entrepreneurship education?

10. What it takes that our well-being will be
funded in the future?
• Consultant Company McKinsey Finland published a report in
2010 stating the conditions under which the Finnish society
can maintain its current welfare in the future.
• According to the report, Finland needs 150.000 – 200.000
new jobs to be created on private sector by year 2020. If
taking into account of retirement, the amount is increased by
120.000 new jobs on private sector resulting in the
requirement of over 300.000 new jobs.
• In addition, the productivity of publicly funded services should
be improved by 1.2 percent per every year.
• McKinsey believes that these measures will allow us to only
preserve the current valuable features of our welfare.
Source: McKinsey&Company: Työtä, tekijöitä, tuottavuutta: Suomen prioriteetit seuraavalle
vuosikymmenelle 2010.

11. Where new jobs have and will be created?

12. Means to tackle the challenge: Growth
entrepreneurship & the related talent
• Majority of NEW JOBS are born in Young & Small firms
– 2006-09 in Finland, less than 700 growth firms representing 4,8%
share of all companies generated 50% of the total increase in
employment*
• During the last three decades in the USA:
– Economic growth has been solely based on the value created by
growing technology companies, and especially the IT sector **
– Companies under 5 years of age have created over 40 million jobs
accounting for all of the country’s net job growth. ***
• The role of talent: Case Stanford in Silicon Valley
– Stanford Entrepreneur companies generate 2,7 trillion USD in
revenue annually, and
– These companies have created 5,4 million new jobs. ****
* Source: Kasvuyrityskatsaus, TEM (04/2011)
** Startup Genome, 2012.
*** President's Council on Jobs and Competitiveness, White House. Interim report 2011.
**** The Wall Street Journal 24.10.2012

13. About growth entrepreneurship
education in Aalto University
Case: Aalto Ventures Program (AVP)

15. Aalto Ventures Program (AVP)
Inspiration, Insight, and Experience to build Bold Ventures
Aalto Ventures Program offers and develops entrepreneurial
education at Aalto University. AVP courses are available to all Aalto
students. You can study a master level minor degree or just take
individual courses of your preference.
In AVP, you will learn by doing together with experienced professionals
and people with various backgrounds and nationalities. This will teach
you practical street smarts and entrepreneurial mindset for starting
new ventures and making impact in real life.
AVP works in close collaboration with Aalto's startup community
(Aaltoes & Startup Sauna). In addition, AVS is being developed in
collaboration with Stanford Technology Ventures Program.

17. AVP GOALS AND CURRICULUM
CO-DEVELOPMENT WITH
STANFORD TECHNOLOGY VENTURES PROGRAM

18. ENTREPRENEURSHIP PROMOTED BY STUDENTS AND THE UNIVERSITY.ENTREPRENEURSHIP PROMOTED BY STUDENTS AND THE UNIVERSITY.

19. accelerator, internship,
co-working space,
conference
Talks, pitching, SoS,
the next thing
ACE – tech
transfer
(Tech) Research
Degree programs
AVPAVP
Academic research and teaching
Talent pool
Culture & Attitude
Network
Easy entry
Innovate new
Ecosystem development
200 M people area –
Northern Europe and Russia
Aalto startup ecosystem
• Brings people together from different backgrounds
• Provides attitude, skills and knowledge to launch a venture
• Spreads entrepreneurial thinking inside Aalto
• Makes Aalto the most attractive entrepreneurial university in
Europe and Asia
• Brings people together from different backgrounds
• Provides attitude, skills and knowledge to launch a venture
• Spreads entrepreneurial thinking inside Aalto
• Makes Aalto the most attractive entrepreneurial university in
Europe and Asia

20. AALTO VENTURES PROGRAM MINORAALTO VENTURES PROGRAM MINOR
Intro
(Inspiration,
Attitude)
Core Curriculum (Skills & knowledge)
Taught both at faculty & Startup Sauna side
Project Courses (Experience, skills)
Courses from other majors, internships etc.
AaltoES etc
Academic Research
ACE, Startup Sauna…

22. Case: T-128.1000 Introduction to
IT Business and Venturing
Value co-creation model between students, businesses
and the university in teaching technology business and
venturing.

23. T-128.1000 Introduction to IT Business and Venturing (2 ECTS)
Business & Venturing Courses (1st year)
Introduction and basic
motivation to taking
Business & Venturing
studies in ICT as part of
engineering education.
A holistic picture of what
entrepreneurs and
managers of ICT
businesses need to
consider at their work.
Offers knowledge and
insight into technology
entrepreneurship and
management of growth in
turbulent environments.
Go-to market planning
for growth-oriented high
technology SMEs in
various stages of
int’n process.
T-128.2500 T-128.5400
T-128.1000 T-128.6000
ENGAGEMENT BUSINESS
MANAGEMENT
ENTREPRENEURSHIP GROWTH & INT’N
T-128.2500 Management of a Software Venture (6 ECTS)
T-128.5400 Technology Entrepreneurship Seminar (4 ECTS)
T-128.6000 Growth and Internationalization of Technology SMEs (4 ECTS)
Period I (Autumn) Period I-II (Autumn) Period III (Spring) Period IV (Spring)

24. T-128.1000 Introduction to IT Business
and Venturing (2 ECTS)
Goals To create initial understanding on the value creation of an
information technology based firm, to learn the basics on the local
and the global ICT industry, how to recognize and classify different
business models and how to analyze the factors affecting the
success of a venture based on business models and strategies.
Contents Basic information of the Finnish and the global software industry.
Theory base for the relation of value creation and business models,
and different business models based or dependent on information
technology. Assignments consist of business model analysis,
model development and creation for real high-technology firms.
Teaching Methods Lectures (theory base and firm presentations), experiential learning
in small entrepreneurial teams, group & personal level feedback.
Execution Three-phased assignment on firms’ business model design.
Done in small groups. Participation to lectures required in practice.
Domain Information Technology (IT) business as the focus domain area.
Additional information https://noppa.aalto.fi/noppa/kurssi/t-128.1000/esite

25. Course exercise: Analyzing and designing
business models for real technology firms
Source: Alexander Osterwalder and Yves Pigneur, 2010

26. General Guidelines for Assignments
• Assignments are done in entrepreneurial teams of five to
seven (5-7) persons
– Lecturer can assist in forming the group(s)
• Each phase of the assignment include two parts:
A. Group work part
• Business model description created with the Business Model Canvas,
which is a result of the group work (same model for all group members)
• Questions related to analyzing and justifying the business model
• Measures team work capabilities and encourages critical and
innovative thinking as a team member
B. Individual part
• Further questions are related to your personal inspection and learning
related to the startup case / business model
• Measurers individual effort, thinking and capabilities

27. Three-phase assignment
1. Description and analysis of the startup’s current
business model
– To be done for two (2) different case firms
– Canvas description plus the written report
2. Further development of startup’s current business model
– to be done for one (1) case firm
– Canvas description plus the written report
3. Designing a totally New business model for a startup
team
– to be done for one (1) case firm
– Canvas description plus the written report

30. ”Brain-sourcing” activity of even 100
students for the firm’s business case

31. Summary of the identified benefits
• Students get:
+ Familiar with the concrete challenges of early-stage companies
+ Chance to work with the management teams of real firms
+ A surprising experience (”It’s great to work with real companies”)
• Startups get:
+ Brain power of up to100 students to analyze, design further and
’brainstorm’ their company’s business model(!)
+ Name recognition among the future employees and decision
makers
+ Potential to get recruits (future employees) / team members
• University gets:
+ Aalto implements several of its core strategic functions creating
also value for the whole society

32. We are building bridge…
…between your entrepreneurial
aims and the actual business!

33. We have a Dream. Do you
got one?
Aalto Ventures Program
http://avp.aalto.fi
avp@aalto.fi