Bridging Innovation and Business at the University of Antwerp
The journey from groundbreaking academic research to a successful business venture is both thrilling and challenging. At the University of Antwerp Dr. Iris Vanaelst, Venturing & Licensing Manager at the Valorisation Office, plays a pivotal role in supporting spin-off companies, helping them navigate the intricate path from innovation to commercialization. With dedicated programs like Deep Dive into Business (DDIB), the university is fostering the next generation of high-impact entrepreneurs.
Building a Thriving Spin-Off Community
The University of Antwerp has cultivated a vibrant spin-off ecosystem, with scaleups like Aloxy, Amber Therapeutics, Hysopt, icometrix, and iFLUX making significant strides in their respective fields. Emerging startups such as D-CRBN, Innocens, and Oxylum hold great potential, demonstrating the university’s commitment to translating academic knowledge into real-world impact. However, launching and scaling deep-tech ventures comes with unique hurdles – ranging from securing venture capital to assembling the right team.
Challenges and Lessons in Startups and Scaleups
Many academic entrepreneurs enter the startup landscape with a strong technological foundation but little business experience. “I work with new technology based ventures with teams that often lack entrepreneurial and business experience, whilst these kinds of ventures often hold the potential to make a real difference – to create impact – the trajectory towards reaching potential customers and success is long, high risk and capital intensive”, says Dr. Vanaelst. Additionally, raising funds in a volatile financial climate remains a key challenge, particularly for high-risk, technology-driven startups.
SuperNova: A Startup Ecosystem Milestone
For Belgium’s entrepreneurial ecosystem, SuperNova has emerged as the ultimate meeting point for startups, scaleups, investors, and innovators. “A ‘Tomorrowland’ for entrepreneurship”, says Dr. Vanaelst. The University of Antwerp plays an active role in this ecosystem, particularly through its DDIB program, which is designed to equip spin-offs in the making with crucial business insights. In collaboration with Antwerp Management School, this seven-day training program – spread over three months – provides teams with the tools to refine their business models, develop financial strategies, and master the art of pitching. Through the DDIB program, participants gain access to an invaluable network, leveraging connections within the Antwerp startup scene.
The Key to Success: A Strong Founding Team
What differentiates successful startups from those that struggle to gain traction? Dr. Vanaelst highlights that beyond having a promising technology and a receptive market, the composition of the founding team is crucial. Diverse teams – blending scientific expertise with business acumen – bring varied perspectives to problem-solving, fostering resilience and adaptability. However, for academic spin-offs, this integration is often a challenge, as many founders initially lack business experience. Learning to navigate the language of business and fostering mutual respect between team members are essential steps in building a solid foundation for growth.
What differentiates successful startups from those that struggle to gain traction? Dr. Vanaelst highlights that beyond having a promising technology and a receptive market, the composition of the founding team is crucial. Diverse teams – blending scientific expertise with business acumen – bring varied perspectives to problem-solving, fostering resilience and adaptability. However, for academic spin-offs, this integration is often a challenge, as many founders initially lack business experience. Learning to navigate the language of business and fostering mutual respect between team members are essential steps in building a solid foundation for growth.
From Startup to Scaleup: The Art of Letting Go
Scaling a startup requires a shift in mindset and, sometimes, a transformation in leadership. One of the toughest decisions a founder may face is recognizing when they are no longer the right person to lead the company into its next phase. According to Dr. Vanaelst, self-awareness is crucial at this stage, and founders who make the bold decision to step aside for the greater good of the business deserve recognition and support.
Mastering the Pitch: A Storytelling Art
A compelling pitch is the key to attracting investors, partners, and customers. Dr. Vanaelst emphasizes that great pitches captivate the audience through storytelling, clarity, and confidence. Entrepreneurs should focus on delivering the essence of their vision concisely—without overloading slides or rushing through their allotted time. Being adaptable, understanding the audience, and staying true to one’s own style are essential components of a winning pitch.
Diversity as a Driver of Innovation
The University of Antwerp upholds diversity as a core value: “Diversity as an asset, inclusion as a norm.” This principle extends to its spin-off support initiatives, ensuring that all entrepreneurs – regardless of their background – have access to the resources and opportunities needed to succeed. By fostering an inclusive startup ecosystem, the university is not only driving innovation but also creating businesses that reflect the diverse society they serve.
As the University of Antwerp continues to expand its impact in the startup ecosystem, programs like DDIB, combined with a strong network of incubators and accelerators, are empowering academic entrepreneurs to bridge the gap between science and business. With the right team, strategic mindset – and support system in place – these ventures are bound to make a lasting mark on the world of innovation.