Monday, 31 July 2017

MBA ranking for Entrepreneurship - do they tell the real story?

MBA ranking for Entrepreneurship – Do they tell the real story

I returned to Cranfield School of Management as Director of the Bettany Centre for Entrepreneurship. Having been away in other Institutions for a number of years, my abiding memory was that it was a strongly entrepreneurial School, with many distinguished alumni. Afterall this is what drew me back, in order to work with the alumni base to develop a strong set of programmes and activities to engage the rest of the University which is strong in aerospace, transport systems, manufacturing, energy environment and of course defence in new venture creation.

I was in for a shock if the FT ranking table is to be believed. Cranfield are in 43rd place for entrepreneurship. Well numbers don’t lie do they?  Maybe we have not played the ranking game well enough – but what I can say is that the entrepreneurial alumni base is strong. Here is a bit of unashamed trumpeting of some of our MBA alumni.

Robert Wright – started Connectair, eventually sold it as CityFlier to BA – for a nice profit. He invested in Wizzair and helped the founding entrepreneur – Josef Varadi make a huge success of the airline.
Sarah Willingham – Made her fortune in the restaurant business. Her big success was with the Bombay Bicycle company. Most recently she was on Dragons Den and is now a mentor and investor.
Nick Jenkins – most recently on Dragons Den – but is on several boards, is a serial investor and that is because he made a great exit from the firm he founded - Moonpig
Patrick Caiger Smith and
Simon Anderson – formed their alliance at the Cranfield Regatta and their company has grown on the back of providing the hardware for smart meters in the home- selling via British Gas.
Steve Joliffe – Has worked tirelessly to develop Top Golf – now a world leader in indoor golf. The company has huge venues in Las Vegas among other places.
Harry Clarke – has founded many companies and is mainly known for pioneering the car parking payment app - RingGo
Glenn Collinson – co-founder and Director of Cambridge Silicon Radio – which brought us Bluetooth
Warren East – grew ARM from a small tech company to a giant before leaving to take up the role as CEO of Rolls Royce

There are ofcourse numerous others and not only has Cranfield been instrumental in the lives of these successful entrepreneurs, we have had the Business Growth Programme running quietly for some 30 years now and the alumni on that came with flat lined business which subsequently accelerated to supergrowth levels of expansion. There are many household brands that we would recognise.

The point about this blog is not so much to list all the successes – simply to indicate that the entrepreneurial DNA is strong at Cranfield and we take pride in it.

Monday, 24 April 2017

The merit of Start-Up weekends.

This short piece on the effectiveness of a burst of activity is based on personal experience.
My first engagement with this was some years ago with designing an event we called “The Real Alchemist Bootcamp”. It was a cheeky attempt at drawing on the Paul Coelho book and at the same time playing on words –alchemy - where we helped to turn ideas into businesses.
This project was run at Queens College – Cambridge around 2003 and provided us with a huge level of insight into how we might run them again. The main outcome or should I say outpouring was the positive buzz and energy that it provided. We did not have an ecosystem into which the students who took part could follow.
Several years later we became involved in what we called “IdeasTransform” and the notion of meaningful entrepreneurship. The reason for this was due to the increased decibels coming out of accelerators that seemed to be pushing out App based new ventures that had nothing other than retail, courier, concierge, fashion, dating and other such proposals. Many were me-too ideas some of which had succeeded and others which had failed spectacularly!
From this came other similar experiences and bit by bit we started to see the gestation of social ventures and new technology businesses. The two with which I have been involved and can see becoming successes are which is providing decision support for farmers and a host of other services that build on agricultural data. This firm was born out a start-up weekend I was involved in and came about when two strangers began to chat and found they had common interests. The firm raised around $1m in investment and presently employs nearly 30 people – with twenty in India. There are many other such examples.
More recently we established Start-Up weekends at Cranfield and already have three new ventures in the making and several others in the pipeline. (1) Corrosion radar will provide data and solutions to the oil and gas industry with sensors examining corrosion under insulation (2) PhycoFeed has technology that can accelerate the production of biofuels using solar energy. It provides a significant improvement in efficiency.  And (3) Datasolver is set to provide privacy security in the growing explosion of data. We have had other forms too that are coming along nicely and we can talk more about them in due course.
Happily we have also killed off ideas at these weekends before too much effort goes into them. 
So, what have we learnt?  First thing is to get quality ideas and people together. Secondly bring together a high calibre and experienced mentor group. Thirdly, have access to a pot of money people can aim at securing. Fourth, provide relevant content and process to generate ideas, perhaps pivot them around until something looks sensible. Doing this under time pressure seems to work because it is quality time that is not otherwise available to entrepreneurs.
From a purely social perspective – it is fun too! Yes there is merit. I feel that if we can get even one decent start-up out of a weekend that is sustainable, generates revenues and creates employment using novel research based technologies we win on many fronts. The input/output ratio is worthwhile!

Cranfield Start-Up weekends are free at the point of delivery. Our next weekend is 18th to 20th May 2017. We will report in more detail on the ideas and companies which flow through this event.  If you are curious to know more please follow the link: