2013 technology entrepreneurship boot camp
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UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp February 2013
2013 Technology Entrepreneurship Boot Camp
Slide 1
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
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+
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
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
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
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?
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp February 2013 8
The former have these
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp February 2013 9
The latter have these
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
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
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
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
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
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
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp February 2013
Agenda
Slide 16
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
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
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
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
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
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
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
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)
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp February 2013 Slide 25
2013 Technology Entrepreneurship Boot Camp
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