2013 technology entrepreneurship boot camp

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! 2013 Technology Entrepreneurship Boot Camp CITE BootCamp February 2013 Slide 1

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2013 Technology Entrepreneurship Boot Camp. 2012 Technology Entrepreneurship Boot Camp Sponsored by Jackson Walker . Dr. Anita Leffel UTSA Center for Innovation and Technology Entrepreneurship http://entrepreneur.utsa.edu. Technology Entrepreneurship. - PowerPoint PPT Presentation

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Page 1: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

2013 Technology Entrepreneurship Boot Camp

Slide 1

Page 2: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013 Slide 2

Dr. Anita LeffelUTSA Center for Innovation and

Technology Entrepreneurshiphttp://entrepreneur.utsa.edu

2012 Technology Entrepreneurship Boot Camp

Sponsored by Jackson Walker

Page 3: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013 Slide 3

Technology Entrepreneurship

• Technology Entrepreneurship is a major driver of our economy and is growing in San Antonio

U.S. Job Creation by Firm Size

< 100

100 - 499

500+

Page 4: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

So Let’s Play Spot the Entrepreneur

Slide 4

Page 5: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013 5

OK, That was easy – let’s make it a little harder

Page 6: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013 6

A) Oprah

B) Richard

C) Bill

D) Crazy Scientist

Page 7: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013 7

Don’t get confused

Between inventors and entrepreneurs

• Inventors create new technologies (ideas)• Entrepreneurs create new business (money)• Which one has the better ROI?

Page 8: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013 8

The former have these

Page 9: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013 9

The latter have these

Page 10: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Do You Have The Courage to be a Tech Entrepreneur?

Slide 10

Page 11: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Facebook IPO

• Started 2004 in dorm• Fun idea, maybe get a date• IPO in 2012• Over 1 billion users• Stock value down 50% - WTF?

(what the Facebook?)

Slide 11

Page 12: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

12

…whatever

• www.whateverlife.com• Fastcompany.com Sept 2007• http://www.fastcompany.com/mag

azine/118/girl-power.html

•No rich relatives? No professional mentors? No problem. Ashley Qualls, 17, has built a million-dollar web site. She's LOL all the way to the bank. :) •60 million page views a month•Ranked 349th out of 20 million web pages (Oprah 469th)

CITE BootCamp February 2013

Page 13: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

13

whatever

•Started doing something fun•Business model emerged (who receives benefit, who pays?)•Offered 1.5 million for site and 2 million for web show – said no.•Was making $70 000 a month

CITE BootCamp February 2013

Page 14: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013 Slide 14

The Growth “Rule of Ten”

• Who is my first customer – Why will they pay me for my

product/service?– How will I secure the deal?– What resources do I need to

complete the transaction?

Each growth by a factor of ten requires the

entrepreneur to evaluate how they will

do business

Without this vision forget going into business

•Who are my next 10 customers

•Who are my next 100 customers

•Who are my next 1 000 customers

•Who are my next 10 000 customers

Page 15: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Today’s Speakers

Slide 15

Dr. Anita Leffel, CITE, Dept. of ETMIan Clemens, CEO ViroxisSaumil Shah, CEO, Live Oak LogicSean Crandall, Associate, Jackson Walker LLP, UTSA Alum Jim Poage, President and CEO, StartechNicole Gewinner, Associate, Jackson Walker LLPTom Roberts, CEO, InvictusEric Eisbrenner, CFO Invictus

Page 16: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Agenda

Slide 16

Page 17: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

In the field of observation, chance only favors minds which are prepared.

Louis Pasteur

How can an entrepreneur identify and select a valuable opportunity?

The choice of an opportunity and the decision to act is a critical juncture in the life of an entrepreneur. With the decision to act, the entrepreneur prepares a business summary for the venture that is used to test the new venture with potential investors, employees, and customers.

Summary

Slide 17

Page 18: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Identifying the Opportunity

Determining the Entrepreneur’s capabilities and interests

Evaluating the opportunity

Writing a summary of the concept

Testing the summary and the concept with potential customers

and investors

Deciding to act on the opportunityor look elsewhere

Six steps to Acting as a Technology Entrepreneur

Slide 18

Page 19: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Types of Opportunity:Opportunity Pull:

the size of the opportunity attracts opportunity seekers to attempting to exploit it.

Example:

A drug to mitigate the effect of Alzheimer’s disease.

Opportunity Pull

Slide 19

Page 20: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Types of Opportunity:Capability Push:

a new technology or capability causes a search for new applications.

Example:

Digital Television

Opportunity Push

Slide 20

Page 21: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Nine Categories of Opportunity:1. Increasing the value of a product or

a service2. New applications of existing means

or technologies3. Creating mass markets4. Customization for individuals5. Increasing reach6. Managing the supply chain7. Convergence of change8. Process innovation9. Increasing the scale of the firm

9 Types of Opportunity

Slide 21

Page 22: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Evaluating an Opportunity: Sources of DiscontinuitiesI. Society

Aging SocietyLifelong EducationFood and PopulationRegulation

II. TechnologyInnovationDisruptive TechnologiesNew Knowledge

III. MarketsDeregulationSupply Chain disruption

Discontinuity as an Opportunity

Slide 22

Page 23: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

Characteristics of Entrepreneurial Teams • Positive attitudes towards independence, achievement, and innovation • Acceptance of risk and demanding work effort • Capabilities matching the needs of the venture • Willing to make the commitment required • Passionate about the opportunity

Resources • Capable of securing access to the human, financial, and physical resources required by the opportunity

Characteristics of the Context• Timeliness• Favorable industry conditions• Future conditions appear favorable

Green Light for an Opportunity

Characteristics of the Opportunity • Novelty of the product • Potential for sustainable long-term success • Potential for good return on investment • Potential for a growing market • Good risk-versus-reward balance • Customers are known and responsive

Slide 23

Page 24: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013

TIME TO GET STARTED

Slide 24

UTSA Center for Innovation and Technology Entrepreneurship (CITE)

Page 25: 2013  Technology Entrepreneurship Boot Camp

UTSA Colleges of Business and Engineering

TAKE YOUR TECHNOLOGY TO THE LIMIT!

CITE BootCamp February 2013 Slide 25

2013 Technology Entrepreneurship Boot Camp