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  • Writer's pictureRoss Jordan

'It's not all about start-up....'

Updated: Jan 6, 2022


Within academia, the phrase ‘it’s not all about start-up’ is one I have heard several times during the last 12 months in reference to enterprise and entrepreneurship.



Whilst I agree, it is worth re-emphasizing that ‘it is about start-up’ too!



It is (finally) a sign of the maturity of entrepreneurship as a distinct academic discipline that it is now seeping into strategy statements that extend the reach across higher education institutions (HEIs). Within its traditional home of Business and Engineering Schools, entrepreneurship now embraces intrapreneurship, corporate entrepreneurship/venturing, state, civic and social entrepreneurship, co-creation, and academic entrepreneurship. This last category is one which HEIs are encouraging other and perhaps all disciplines to engage with as a result of their refreshed strategies for a post-pandemic world. So, there are disciplines as varied as fine arts, nursing, and indeed education itself which are struggling to comprehend what this means for them. It may be this is where that phrase ‘it’s not all about start-up’ has come from, as a means to allay fears of requiring a new mindset that might seem alien to some.



Simultaneously we see within the Business School perception of entrepreneurship as a maturing field that increasing numbers of academics in the area (many if not most trying to establish their distinctiveness and research profile) are exploring fascinating but often narrow threads of interest. Typically, these threads are distant from the start-up world as a lived experience for many practitioners. This could be for reasons such as the ever-present challenge of clear data, the search for originality, or even, dare I say, researchers’ distance from start-up and investment circles.



A further thought is that in seeking distinction and maturity as a discipline the core concepts of entrepreneurship from a start-up perspective have become enshrined (albeit still debated). Opportunity and trait theory, lean and disciplined entrepreneurship, and even the applied strategies of pitching and business planning are all relatively consistent across European, Australian, and American Business Schools. This language remains relevant, but I have been struck by a limited number of student essays I read in 2021 which moved away from this interpretation and embraced the extended syntax of the lived world of start-up. These ‘hustlers’ recognise the opportunity sectors of agritech, fintech, deeptech, NFT 2.0, tech-for-good etc. and talk of scrums, roadmaps, runways, spikes, 10x strategies, take-home assignments, and superfans. We could, with some justification, point to this approach as supporting the exclusiveness of the hero-entrepreneur and not being consistent with an academic desire for social inclusiveness. But if we avoid this world as a means of defence for our maturing discipline, we run the risk of an academic treatment of entrepreneurship seen as distant and disconnected from the lived experience of start-up.



My conclusion is that it is time to remind HEIs that entrepreneurship is about start-up (of course not to the exclusion of all else), and that 2022 has the potential to be the right time for this reminder. I will not extend my thoughts beyond the normal length to justify the timing, but rather point the interested reader to some resources which summarise the last year and point towards the new from my favourite readings in start-up world. You may then be the judge as to the appropriateness of the timing.


Enjoy:


Sifted continues to provide fantastic coverage of tech start-ups in Europe. This article gives a sense of the scale of development, investment and valuations in fascinating sectors such as diverse as remote medicine and vertical crops, with a focus on the c-suite hires as a key:



In the year of Cop26, this article looks at a selection of start-ups successfully funding in the sustainability sector across a broad range of industries:



In a similar vein, here are the latest shout outs for government funding in sustainability from Innovate UK:



….and then from my other favourite insight source, Beauhurst, here is an article that highlights where the government money went in 2021:



Finally, please indulge me (as if my blogs were not indulgent enough!), here are a few articles which struck a chord with my personal career journey and interests.


Firstly from my old world of the music industry and from a company where some of my best buddies used to work (back in the day) – Sennheiser. This article highlights some of the ways an established corporate can mimic the start-up vibe:



Sifted also have a great directory of intrapreneuship approaches across a range of organisations and industries:



With my fascination with Formula 1 (sustainability is coming!) I was intrigued to see that former World Champion (and all-round nice bloke) Nico Rosberg is an angel investor:



Whilst angel investors were a little quieter on the deal front in 2021 (unlike VCs) this bodes well for a release of pent-up funds in 22. To help access those holes burning in pockets here is a useful guide to angel investor groups:



Lastly a return to academic roots, with a commentary on Julian Birkinshaw’s great Harvard Business Review Article by Dr. Ralph-Christian Ohr which concisely addresses the reality of creative destruction (couldn’t help myself) as perhaps not as all-encompassing as it may seem (thinking back to ‘is this the 6th wave’). It is this sort of focus and embracing of the language of start-up in an existing corporate environment that reminds us of its relevance. So perhaps, it is all about start-up:



Ross Jordan 01/01/22


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