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  • IDENTIFYING ENTREPRENEURIAL

    OPPORTUNITIES IN NORWAY

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 1

  • BACKGROUND AND OBJECTIVES

    BackgroundTo start a business one needs to identify a need, a problem/opportunity.

    Someone new to Norway may not readily identify or have the necessary information/knowledge/network to identify opportunities.

    ObjectivesTo provide insights into where opportunities can be found

    Stimulate a discussion

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 2

  • AGENDA

    Present possible Sources of opportunities

    -Mega trends, Trends in Norway

    Identify possible entrepreneurial opportunities

    -Present and discuss possible business opportunities- How to analyse, what to look for?-Your market, Segmentation

    Skills and jobs for the future

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 3

  • ABOUT ME

    Francis Stevens George

    -Author, Entrepreneur, Top/Senior Management, consultant (Big and small

    companies, public, private sector, cross industry experience- Norwegian

    International companies. E.g.. Yara, Moota Telecom, Fronter, Norad, IFC,

    Foundation for Business and Society

    -Part of one of the first incubators in Oslo (Efjord), 2012-13 Business

    development Manager at Grunderneshus (Oslo Int. Hub)

    -Instructor in Innovation Management, Leadership, E-business/commerce

    - Founder, Owner and editor of Innovationafrica.org

    -Author of several papers on Business models, Leadership,Innovation and

    Technology

    -Published- [China and Africa Love Affair, Feb 2014], The Diplomat (2015), The

    Plantman(2014), Black White and Coconut(2014), The Autobiography of Siaka

    Stevens Parts I and II(2014)

    -Formal qualifications: London School of Economics-(BSc Econs), Norwegian

    School of Norwegian (MBA), (Masters in Innovation, E-enterprise and

    Leadership)11/9/2015 WEDNESDAY 29 JULY 2015. OSLO. NORWAY

  • AGENDA

    Present possible Sources of opportunities

    -Mega trends, Trends in Norway

    Identify possible entrepreneurial opportunities

    -Present and discuss possible business opportunities- How to analyse, what to look for?-Your market, Segmentation

    Skills and jobs for the future

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 5

  • SOURCES

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 6

  • FOUR MAIN SOURCES

    Me (Internal)

    My experience, personal pain. I have a problem

    Out there (External)

    Trends, Mega trends, Market inefficiency,signals,failures)

    Your community

    Corporate/enterprise

    Research/Academic

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 7

  • SOURCES: MEGA TRENDS

    Demographic and social change

    Shift in economic power

    Urbanisation

    Climate change

    De-industrialisation

    The Third billion

    Technology- everything (almost) will become DIGITAL- (IoT)

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 8

  • SOURCES: TRENDS IN NORWAYStructural

    Urbanisation

    Demographic-People living longer-Increase immigrant pop

    Shift in spending power-Elder generation

    Technological-Everything digital-Connectivity-Convergence-Mobility-m-health-Innovating to Zero-Disruption

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 9

  • TRENDS: THE BIG PICTURE

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 10

    Norwegian Global

    The Smart Money

  • STRUCTURAL CHANGES

    The petroleum industry is currently the most important export sector

    With falling oil prices Norway has currently no choice but to diversify her economy

    Increase focus on Entrepreneurship

    Oslo Cancer Cluster

    Increase focus on biotech

    Increase focus on knowledge and experiences to solve global challenges.

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 11

    52 %

    8 %

    6 %

    15 %

    9 %

    6 %4 %

    1980-2000 Exports

    Gas & Oil

    Fish

    Chemicals

    Machine

    Metals

    Pulp & Paper

    Other Manu

  • URBANISATION

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 12

    960.000 pop in Oslo in 2040

    0

    200000

    400000

    600000

    800000

    1000000

    1200000

    Pop

    Oslo Pop Growth

    2015 2040

  • DEMOGRAPHIC

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 13

  • IMMIGRATION

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 14

  • SUMMARY:FOUR MAIN SOURCES

    Me (Internal)

    My experience, personal pain. I have a problem

    Out there (External)

    Trends, Mega trends, Market inefficiency,signals,failures)

    Your community

    Corporate/enterprise

    Research/Academic

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 15

  • OPPORTUNITIES

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 16

  • LOOKING FOR OPPORTUNITIES

    "Start with your own experience,-what bothers you? What is missing?

    How are problems solve? It could be business or other

    Look for a problem! DO NOT CREATE A PROBLEM!

    CREATE solutions: Why not think of solving problems that will exist, but dont yet?

    Market failure

    Product in Norway, that is not available in your home market

    Every thing is Digital

    Everything is up for Disruption

    Grow your network

    Save people money; and of course TIME too

    Fulfil a need

    Appeal to base emotions

    Turn your passion, hobby into a business

    Steal someone else idea

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 17

  • ASK

    Why: is it so or is it like this?

    What: does that mean?

    How: can I(we) solve this?

    Where: where does it happen?

    When: does it happen?

    Peter Drucker: Entrepreneurs always search for changes, responds to it and exploits it.

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 18

  • TREND FACTOR & OPPORTUNITY

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 19

    Norway needs to look outside more than ever

    Norway leverage its unique advantage to solve global challenges

    Knowledge brokers

    You as an Agent

    Growing interest in encouraging small business growth as a source of employment for the future

    Promoting entrepreneurship.

    Economic

    -Oil investment fall

    -Need to diversify

    -Shift in economic power

    Products and services for the old

    Products and services for caregivers

    Senior Care-old people of immigrant background

    Immigrant market

    Technology-smart cities

    Demographic/Urbanisation/Social

    -More old people(living longer)

    -Increase immigrant pop

    -Shift in spending power

    Disruption

    Internet of Things

    Technological

    -Connectivity

    -Convergence

    -Mobility

  • OBSERVING TRENDS

    -Oil investment fall

    -Need to diversify

    -Shift in economic power

    Economic/Structural

    -More old people(living longer)

    -Increase immigrant pop

    -Shift in spending power

    Urbanisation/Social

    Connectivity

    Convergence

    Mobility

    Innovation

    Technological

    Business, product, service.

    Opportunity Gap: (Difference

    between what is available

    and what is possible.

    This is what Peter Drucker

    calls The incongruity

    between reality as it actually is

    and reality as it is assumed to

    be or as it ought to be

    New

    Business

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 20

  • DEMOGRAPHIC/SOCIAL OPPORTUNITY:

    IMMIGRANT MARKET

    0

    100000

    200000

    300000

    400000

    500000

    600000

    700000

    800000

    900000

    Immigrants The EU28/EEA, USA,Canada, Australia and

    New Zealand

    Asia, Africa, LatinAmerica, Oceania

    Africa Asia-incl Turkey

    Immigrants and Norwegian-born to immigrant parents, by country background. 1 January 2015

    Immigrants and Norwegian-born to immigrant parents, total Immigrants NBTIMP

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 21

  • DEMOGRAPHIC/SOCIAL OPPORTUNITY:

    THE IMMIGRANT MARKET

    Segmentation-What is your segmentation based on? Actionable and Meaningful segments

    Segmentation even more important and complex today

    The immigrant market? Is this your target market?

    Who is your target?

    Do you know the natives well??

    Do you know your own group well?

    What are their needs? Look at the United States...some of the most successfull immigrant entrepreneurs solve problems within their community

    The Lebara boys

    2015 CCI WORKSHOP ON ENTREPRENEURSHIP AND INNOVATION. FRANCIS STEVENS GEORGE 22

  • TECHNOLOGY OPPORTUNITY:INTERNET OF THINGS

    The Internet of Things refers to the networking of physical objects through the use of embedded sensors, actuators, and other devices that can collect or transmit information about the objects.

    According to Gartner, Inc. (a technology research and advisory cor

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