Elizabeth Perry/White Bull:
So, it seems you’ve spent a good part of your career helping young companies get off the ground while working with one of the biggest IT players. … Where did it begin?
Stewart Townsend/Oracle:
I started at Sun ten years ago in the very technical role of a systems engineer. I then moved on to business development two years ago, where I created a role leading a startup program in Europe. The logical step from there is this Enterprise 2.0 role I now have, helping Sun/Oracle enter that next stage of business. Not so different from helping young companies achieve success.
WB:
Here at White Bull, we talk about the European Innovation Ecosystem. Bernard Gander spoke about Meaningful Innovation and reaching the consumer. … Is innovation about change, or about making better use of something that already exists. How do you define it?
ST:
Well, it’s a two-pronged question. First of all, yes, part of innovation is about understanding what is already out there, and sometimes it does involve making use of something that already exists. The iPad is a great example of that. … But so is your network!
So it’s also about making use of your network, and other companies that can help you get there quicker. It’s still true that the larger company names will open doors. So, use your business cards! I tell emerging companies to test the market by establishing some very strategic partnerships. If you’ve got a very good CRM system, for example, go ahead and find a reseller. I talk a lot about building a channel to market. In other words, early stage firms need to behave like enterprises … think like them, but retain their can-do attitude! They need to be ready for growth and know how to engage with the larger firms.
And the other part of that is about change, … which for some companies is a hard word to accept. You need to stay nimble!
WB:
Some say Europe is downright hostile towards business. What are the obstacles and how do companies get around them?
ST:
It depends on whom you talk to. Europe can be difficult simply because of the different cultures, borders, districts, languages, etc. It seems that Europe wants to embrace innovation, yet does so within the framework to protect its borders. The bottom line is that you have to understand those borders and those differences. Berlin may be more relaxed than say Lithuania. You must have a network and use it to get past these barriers, and forge relationships with local businesses and personalities. … So the obstacles can be overcome with the right relationships really. And I think we’re seeing a real effort among the strongest to work together.
The other thing in Europe is that we don’t shout enough. … Innovation has been happening here for a while, but the word doesn’t get out enough!
WB:
Aside from the social media piece, what do you suggest people do to broaden their horizons?
ST:
Well, again, I think it’s about working together, building partnerships, connections. We can live in isolation with great ideas, but nothing will happen if we don’t build relationships with others who can help drive business. It’s a fast moving market and the ones with the most flexibility will thrive. That’s innovation. That’s beautiful.
What you guys are doing at White Bull is great. Events like these will help bring people in this ecosystem together to engage, giving them access to each other. … That’s where the power is!
WB:
Thanks for that! ... Can you tell me some more good news about Europe?
ST:
Again, Europe seems to be kind of an untold story. But, the amount of startups coming out of Lithuania, such as Geogoer.com who were part of the accelerator programme http://thedifferenceengine.eu/, just for example, is astonishing. They’re doing it on their own with drive and passion. Eco-friendly companies and sustainable companies are coming out across Europe. And partnerships are happening to drive business.
WB:
What are the trends as you see them across Europe?
ST:
Trend-wise, I’m particularly intrigued by the location-based services. We’ve seen companies so far like Foursquare, Rummble and others affecting how we stay connected. I wonder how they will change the way we do business. I predict that in 12 months we will see a sort of paradigm shift … using technology to sell. Now smart phones are GPS enabled. As that market penetration happens, the small companies are reacting quickly. … Some of those smaller companies are likely to be bought by corporations to help enable growth quicker into this market.
I also see social media being accepted as a channel. … BT (British Telecom) built a social media platform, for example, completely altering the way they handle customer care. It’s a good example of how policy should be changed to reflect the way we live our lives.
WB:
Speaking of social media, that seems to be a passion of yours, and you have said that this plays an important role in the success of business … in building your brand.
ST:
For me, I was not really aware some years ago of how to create a brand. Without social media I could not have created what I did. My audience was there. This is where all the nimble companies are. This is where they are talking about the problems, not to mention the solutions, while the larger corporations are often not talking at all, or reverting to old school methods of communications. Social media (twitter, facebook …) became my sales channel. Quite a nice way to push things out. I was able to build on my contact base, while having loads of fun and engaging in important conversation.
Making social media a part of your communications strategy is a way of softening your brand. … I mean, instead of being hardware or software, you are yourself. You are humanizing the brand, in a way. You're not only talking about the stuff you’re selling, you’re really talking about yourself too.
I think it’s important to note that while creating a company brand, one must also create a personal brand. There should be a personality or spokesperson linked to your business. And you have to be very clear about your strategy from the beginning. … What do you do? How do you articulate what you do? You can’t have someone who lacks confidence be that person. … Shout it out loud!
WB:
You talk about some of the larger companies being less flexible etc., yet you are running with one of the Big Dogs. …
ST:
Well, empowering your employees is still difficult. But I think the Smart Cookies are very switched on to giving freedom and getting more out of change. Sun/Oracle has been very flexible with its employees. As a result I think people innovate more, are more sociable, refreshed. As for me, I go the extra mile for them because they are looking after me.
WB:
What is important to you? I mean, what would you like to see happen around European innovation?
I’d like to see more investment happening in European startups. There is a stigmatic lack of commitment from the industry … and a limited amount of gambles or bets on smaller startups. The idea of entrepreneurship is more rampant in Silicon Valley. Here, there’s little gambling going on, and it’s been like that for a long time.
It’s also important to see companies do business abroad … in the US and China, for example. They can then bring the success back to the country and build cash flow here.
Finally, these startups are the future leaders of the large companies. We need to acknowledge and support those individuals. Mentoring them and supporting them has been great fun. … It really takes an outstanding type of person to be an entrepreneur. And the outstanding ones will build a great team around them. The way they think and look at things is refreshing. Adventurous. I mean, instead of talking about theories of management, etc. they are often breaking the rules! And they are often successful because of that! They’re not afraid of change. They embrace it!
WB:
Ok … so what’s with the shirts?
ST:
It began some years ago at a Last.FM. I was talking with RJ, (Richard Jones) one of the founders, and was wearing the standard corporate suit. He was wearing shorts and sneakers. As we spoke, it clicked with me that I was out of place. I quickly went to the store in search of the wildest shirt I could find. I thought, why do I have to wear a suit? I found a wild and wacky one. It was blue with pink white flowers on it. … definitely stood out of the crowd.
Quickly, I became known as the man in the shirt, and I was instantly more approachable. You could ask me things as a person. The shirt also became in some circles synonymous with Sun, and Sun became associated with having a bit of Fun … a really funky company to do business with, who cared and listened to its customers but helped them also grow, scale and reduce costs.
WB:
So … what will you wear to White Bull 2010, Pathways to Exit?
ST:
It’ll be a surprise, of course. But it will be important. Relevant. I’ve seen two already that are appropriate. ... I’m looking forward to it.
WB:
So are we, Stewart. So Are We!!!