Failures & Success Factors In Innovation Antwerp University

© UNIVERSITEIT ANTWERPEN

Failures and success factors in innovation, a research

VERHAERTINNOVATIONDAY – OCTOBER 12th, 2007
www.mastersininnovation.com

Failures and success factors in
innovation, a research

Sven H. De Cleyn
sven.decleyn@ua.ac.be
www.ua.ac.be

Commercially confidence – This presentation contains ideas and information which are proprietary of University of Antwerp, it is given in confidence. You are authorised to open and view the
electronic copy of this document and to print a single copy. Otherwise, the material may not in whole or in part be copied, stored electronically or communicated to third parties without prior
agreement of University of Antwerp.

12.10.2007 Slide 1
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LECTURE CONTENT

1. Context of the research
2. Research objectives
3. Research approach
4. Key performance indicators
5. Valorisation

12.10.2007 Slide 2
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• Many untapped potential in Flanders,
partially due to absence of financially
strong companies.

• High technological and financial risk profile
of projects.

12.10.2007 Slide 3
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• Primary motivation: Corporate venturing
facility (Verhaert).

• Importance:
– Foundation of new high-potential ventures
– Diversification & growth of incumbents
Flanders as incubation region

12.10.2007 Slide 4
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• Joint research project to assess feasibility
of the project concept.
• Partners: &

• Funding: &

12.10.2007 Slide 5
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• Final objective: Develop instrument to screen

and select projects and product ideas efficiently.

• First phase: Analyse feasibility of software
development to resolve this problem.

• Next phase: Large scale international research
to gather data and build up model / software.

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• Requirements of software:
– Scoring of projects (including identification of
weaker dimensions)
– Differentiation according to industry sector
– Clustering of similar projects
– Artificial Intelligence approach (feeding
database with new projects’ information)

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• Specification of required data set
– Size
– Geographic and industry sector diversity
• Required techniques
– Statistical analysis
– Artificial Intelligence

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• Similar models exist to assess ventures and

NPID projects
– Business Platform Model (M. Klöfsten)
• Likert-5 assessment on 8 dimensions
• Multi industry approach
• Growth companies
– Bell-Mason Diagnostic
• Holistic assessment with yes/no questions
• Single industry focus (ICT / software)
• Growth / Mature companies

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• Uniqueness of our approach:
– Holistic view
– Early stage assessment
– Integration of Artificial Intelligence (learning
system)
– Cross-industry approach, with fine-tuning per
industry sector

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• Research confirms feasibility and
usefulness of model (success ratio
of 40% vs up to 85%).
• Database with more than 200 potential
influencing success factors.
• First attempt on 1 dimension in small
sample reveals discriminatory power.

12.10.2007 Slide 11
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4. Key success factors

• Small research sample of 16 product-
oriented spin-off ventures as pre-test

• Some key success factors appear, even in
this small sample

• Confirmation required in larger sample

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4. (Presumptive) Key success factors

• Preliminary screening of competitive
technologies
• Government subsidies (mainly IWT
funding)
• Product idea originating from clear market
demand (market pull vs technology push)

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• Preliminary test of compliance with
customer needs through panels / lead user
analysis
• Realisation of product development within
project timing
• Business / industry experience of key
team member(s)

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• Actual trademark protection and future
patents and trademarks
• Integrated product development team
(technology, market & human interface)

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5. Valorisation

• First stage valorisation:
– Input for further research
• Second stage valorisation:
– Instrument for monitoring projects
– Strategic instrument for fund management
– Service package (advice in project selection)
– Stand-alone software package

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5. Valorisation

• Target group:
– Innovating companies
– Venture Capitalists and other investors
– Incubators and technology transfer offices

12.10.2007 Slide 18
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Questions?

University of Antwerp
Faculty of Applied Economics
Prinsstraat 13
2000 Antwerp
Belgium
Tel +32 (0)3 220 41 11
Fax +32 (0)3 220 44 20
www.ua.ac.be
sven.decleyn@ua.ac.be
johan.braet@ua.ac.be

12.10.2007 Slide 19
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Verhaert New Products & Services nv
Hogenakkerhoekstraat 21
9150 Kruibeke
Belgium
Tel +32 (0)3 250 19 00
Fax +32 (0)3 254 10 08
www.verhaert.com
info@verhaert.com

12.10.2007 Slide 20
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Failures & Success Factors In Innovation Antwerp University

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