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Entrepreneurship

Learn from Jun Li's 18 years of entrepreneurship experience at Anova Solutions, Altius Solutions, and eTop Technologies. Discover key lessons on team building, adapting to market changes, and seizing opportunities. Explore the challenges, strategies, and triumphs of running a startup, including valuable insights on time-to-market, technology innovation, and customer acquisition.

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Entrepreneurship

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  1. Entrepreneurship Jun Li July 28, 2010 Peking University

  2. What is Entrepreneurship? • en·tre·pre·neur ( n tr -pr -nûr , -n r ) n. • A person who organizes, operates, and assumes the risk for a business venture • entrepreneurial • adj 1: of or relating to an entrepreneur; "entrepreneurial risks" 2: willing to take risks in order to make a profit

  3. 18 years “Entrepreneurship” experience Anova Solutions Inc. 05/05 eTop Technologies 09/03 08/04 NASDAQ IPO 05/01 09/00 Simplex Solutions 06/02 Cadence Design Systems 01/99 Altius Solutions Inc. Japan 02/91 Excellent Design Inc. 09/97

  4. Excellent Design - 1991-1999, Yokohama • Software engineer for Hitachi : Design Automation • Started a semiconductor design house in Japan • Raised $2 Million from large trading companies • First team in Japan semiconductor industry using industry standard automation software design LSI chips for companies : SONY, SHARP,TOSHIBA, NEC, EPSON etc. • Design automation solutions adopted by fabless design houses in silicon valley, europe and taiwan regions. Lead the industry trend : Customer Own Tool (COT) • Acquired by Cadence Design Systems in 1997

  5. Lessons Learned • Being Engineer is more than just understand the theory • Core technology, team is fundamental to the success of a company • Need to find the right business opportunity- get feedback, focus your plan and efforts on a tangible market. • Sometimes you have to challenge traditional thinking and develop new business rules

  6. Altius Solutions 1999-2001, silicon valley • Began as world class System On Chip implementation team • Raised $2M in angel funding, established business within 2 weeks. Made $8M in 12 month. • Grew to 30 people, customers included SONY, SUN, IBM, TOSHIBA etc. • Merged with Simplex, went IPO at NASDAQ in 2001

  7. October 8, 2000 ALTIUS Solutions, Inc.SoC Design solutions, Leading by Design

  8. Lessons Learned • Time to Market, Time to Volume creates values for customer hence for business • Leading edge technology create the business potential, attract customers and make high profit margin • Need to be able to adapt quickly, even completely change courses if necessary

  9. ETOP Technology 2003 - 2004 • Replacement of a industry de facto 500M market • Leverage team experience and low operational cost model • Grow business by lower the price barrel while keeping the 80% features • Acquired by Cadence systems 20M USD

  10. Lessons Learned • Even with prior experience and infrastructure, managing a business is different each time, depending on market conditions • Business environment is critical to the success of a company, especially a startup • Operational execution is critical for a startup, and creates a dynamic working environment

  11. Anova Solutions : 2005 - • Aiming the nanometer region design challenges : Design For Manufacturability • Extendable business model by partner with large semiconductor company • Technology patent established before company setup

  12. Starting Your Own Company • Personal Commitment • Compelling Idea • Well Thought Out Plans, Market Feedback • True Business Need • Core Team • Raise Smart Money, People Who Can Help You • Execute, Execute, and then Execute

  13. Important Factors in Running a Startup • Set up your corporate structure and a professional organization from the start • Be flexible with your strategy, get feedback, and constantly work to understand the market • Establish and communicate clear goals for yourself, your management, and the company • Know your exit strategy and options

  14. The Macro Environment • More investments starting to take place by venture community • New business model- “What is your India or China strategy” • Bar is much higher today • Software can still be a challenging industry

  15. What the VC’s Are Looking For Today • World class team with expertise in a particular area • Business that fills a demonstrable need and a distinguishable strategy • Solid customers that can generate predictable revenue • Competitive advantage over others, technology with barriers to entry • Large potential market opportunity

  16. Can You Do It? • It is not just the idea- it is attitude, persistence, execution • Experience counts- corporate processes, management skills, domain expertise • Being an entrepreneur takes commitment, hard work, and creativity. It is not easy, but it is one of the most rewarding things in life you can do.

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