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Activating Local Innovation Ecosystem (How to support start-ups)

Activating Local Innovation Ecosystem (How to Support Startups)

Challenges/ Barriers facing

Technological

  • Testing innovations in a real environment

Social & behavioural

  • Getting local organisations to support start-ups
  • Lack of entrepreneurial spirit within university staff

Finance & business model

  • Finding financing for local innovators
  • Developing sustainable business models

Competences & risks

  • Departure of start-ups form smaller to larger cities because of more opportunities
  • Global competition

Regulatory & juridical

  • Lack of national/regional programmes for incubators
  • Integrating innovation into existing administration

Governance

  • Lack of office spaces
  • Appropriate serving for local start-ups
  • Expanding and improving start-ups
  • Getting start-ups that are initiated by university
  • Selecting and prioritizing preferable solutions based on criteria sets
  • Set-up of a good interface between city and start-ups
  • Lack of exchange between research institutes and business
  • Gap (the lack of living lab concept in the city) between the proof of concept to a prototype situation and scale up to rollout to the market
  • Lack of completeness of available solutions on the market (lack of marketplace with a quality control and a predefined template)

 

Incentives/ Policy recommendations/ Suggestions/ Best Practices

Policy recommendations

  • Offer public space (e.g. real neighborhoods) to start-ups where they can trial and error solutions.
  • Introduce city-led consultancy and formats such as SCC1 at national/city level

User incentives

  • Local industry is highly interested in innovation and will therefore support start-ups

Best practices & suggestions

  • Create clusters and oriented accelerators
  • Don’t run for general incubators, rather build on your existing strengths. Don‘t try to copy others.
  • Bring together incubator, accelerator and venture building in a single location
  • Think about risk containment, evaluation and monitoring criteria and how to act in case of failure
  • Set-up a start-up centre at university
  • Set-up an institutional network (such as Vienna Business Agency)
  • Pick one theme – think about your specialization
  • Provide guidance for start-ups to define the right next steps
  • Embrace strong collaboration between local universities, companies and public administration
  • Replicate iCity tender event as organised by Triangulum

 

Plan for Implementation (Next Steps)

  • City-led consultancy for Munich start-ups (investing in start-up centre, creating an entrepreneurial centre, offer space to start-ups where they can trial end error solutions)
  • Creation of Innovation Lab within the university
  • Connecting accelerator and venture builder to other organisations
  • Finding models for upscaling
  • Investing in start-up centres
  • Keeping young companies within the area instead of loosing them to bigger cities
Lesson identified at: