Learning to walk as

entrepreneurs in your day jobKyrre Riksen, Investment Manager

Telenor GBDR, New Business

Oslo, 12 September 2009

Gründerskolen

Learn to takerisks

in a

controlledenvironment

Today’s pitch to you

It all started with a

Seed proposal on our desks

5% banked among 140 millon people

We saw the tip of the

Iceberg

100% mobile coverage

300 ATMs in major cities

Less than300.000 credit cards

The ideal ground

to redefine building blocks

The Future of

Banking?

BillPay RetailerTravel Time: 5 mins

Travel Cost: Tk. 0-5

Queue Time: 0 min

Customer’s

Location

BillPay Locations

Bank’s LocationTravel Time: 15-60 mins

Travel Cost: Tk. 20-80

Queue Time: 30-150 mins

We fixedFrictions

Bill number

209378382,

amount

Taka 312 has

been paid.

Thank you

Tk

PDB

Step 1: Customer gets electronic notification with bill

Step 2: Presents bill to a channel

Step 3: Channel credits account using mobile phone, takes cash, issues receipt

Tk

Customer with a mobile

Step 4: Customer gets notification that bill has beenpaid

Link to video: http://www.youtube.com/watch?v=QZ9aMoq-ZSI

Tk

PDB

Step 1: Customer gets bill from PDB

Step 2: Presents bill to a channel

Step 3: Channel credits account using mobile phone, takes cash, issues receipt

Customer without a mobile

Link to video: http://www.youtube.com/watch?v=QZ9aMoq-ZSI

Thousands of BillPay outlets

Open from 9 am to 9 pm everyday

Easy tracking via SMS or call center

Stringent validity screening

Instant payment acknowledgement & accounts update

Convenience

Simplicity

Reliability

Trust

Transparency

Selling points

Presentation and hand-over to Mobile Management Board(MMB)

May 2007

Group Executive Management (GEM) presentationApril 2007

Executive Lead appointed and Global Project formalizedwith DTAC, DiGi, Grameenphone, Telenor Pakistan, Telenor Serbia & Kyivstar

May 2007

Global Knowledge Group initiated with 30 members from Norway, Hungary, Ukraine, Thailand, Malaysia, Pakistan & Bangladesh

Mar 2007

Launch of BillPay in BangladeshDec 2006

Pakistan project & foreign remittance project initiatedSep 2006

Positive decision to GO ahead with Implementation projectFeb 2006

Feasibility study approved & initiatedDec 2005

Opportunity identifiedDec 2004

MilestonesDates

7 Innovationtactics

Identify winningpeople& ideas

Via boundarylessmatchmaking

•10 markets scanned•First 1 BIG idea inBangladesh, then”snowball” effect

•Entrepreneurial talentrecruited locally•Matched with globalsupport team mappingglobally

•First, launch in Bangladesh•Then, team recruited in Pakistan &project kick-off• Leads in Thailand, Malaysia, & Serbia identified & prepared

•Global sharing group w/ 7 countries•Remittance project kick-off•Hand-over to Corporate Management May 2007 for expansion, ”Top-Down” process

2004 2005 2006 2007

Acquire the

Licenseto Kill

By mobilizing talents

bottom-up•Visionary dialoguesw/Seed finalist•Local Management

on hold

•Cross functional assumptionstested locally at working level• Then, introduced to localManagement, later HQ/ Strategy

•100 processes designed, then ”license to launch”•Strategic discussions stimulated at HQ level in parallel, then supporting focus area established• License to launch in Pakistan, followed-up rest

•Global capabilities enabled•Hand over from Bottom-up•Top-down governanceprocess formalized May 07

2004 2005 2006 2007

Deepdivelocally

& secure the

Epicentrefor learning & growth

2004 2005 2006 2007

•First,boost of localhero•Not starting at the top• Develop the

entrepreneur

•Local project Manager w/ authority & entrepreneurial skills recruited. •Headhunted operational talent having a South African track record•We moved to Bangladesh

•Centre-of-Excellence leveraged for expansion, > 100 cross functionalprocesses quality assured• Top Management involvement

• Recruited sponsors, doers & ideapeople in Grameenphone. A base• Validated concept externally beforeinvesting in ”Centre-of-Excellence”

Demonstrate

Results

By investingin Entrepreneurial

Leadership•Mobile Money 2nd place in BangladeshiSeed 2004 contest

•Feasibility kick-off,Seed Capital, only USD 85.000, USD 149,300 for build-,design phase. Launch locallyfunded

•Offsite strategy campin Cox Bazar gives 1 team vision• BillPay launch Dec 2006• Pakistan kick off Sep 2006

•Global Sharing Group established•Remittance project staff funded•Hand-over & Executive Lead appointedfor top-down development

2004 2005 2006 2007

Prepare a

Growth

engine

By sharing

Best Practices

•Seed 2004 finalist initiated dialogues•Later backed up byfacts & best practice sharing

•Early quality assurance withexperts & future leads•Stimulated environment for achievements & risk taking

•First, created implementableopportunities at working level•Then, brought to stakeholders who added value.

•Knowledge Group Mar 2007•Remittance project fundingensured competencies used later•Hand-over to Management May 2007

2004 2005 2006 2007

Safeguardlocalinnovators

By driving fact based

Hypothesis testing•1 fundamental hypothesis defined & defended throughoutthe process

•Key principles slowly adopted by core business areas

•Key beliefs in feasibility Study approved by stakeholders

•The Team can focus on execution•Very little politics left•Predictable processes for all

2004 2005 2006 2007

Hand overthe project to Managementat the

time of

momentum•A big idea is bornbut is yet to get biggerwith stakeholders

•We have evidencefor the potential!• Team is in place

•Local CEO is finally on thehook•Then, Corporate Management

•Sister projects & Knowledge Group addcredibility to Management•Group Executive Management (GEM) & Mobile Management Board (MMB) presentations

2004 2005 2006 2007

Today’s pitch to you

Time

Individual pushing the idea

Peers and stakeholderssupporting idea

The market buys the idea

From idea to market development

My personal journey from Seed activity

to Business realityKyrre Riksen, Investment Manager

UMTS Forum at Lysaker, 28 October 2008

My personal journey from Seed activity

to Business realityKyrre Riksen, Investment Manager

UMTS Forum at Lysaker, 28 October 2008