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Entrepreneurship A dialog and food for thought

What is Entrepreneurship . en tre pre neur ( n tr-pr-nr , -n r )n. A person who organizes, operates, and assumes the risk for a business ventureIdentifies pain-points as opportunities Takes calculated risks and leads positively Passionate, Unconventional and OpenCreates jobs Enhances peo

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Entrepreneurship A dialog and food for thought

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    1. Jayan Ramankutty (1975 – 80 : 75F04480) Founding CEO YuMe Networks BITSAA.org, Jan 20th 2007 ‘Entrepreneurship’ A dialog and food for thought

    2. What is Entrepreneurship en· tre· pre· neur   ( n tr-pr-nűr , -n r )n. A person who organizes, operates, and assumes the risk for a business venture Identifies pain-points as opportunities Takes calculated risks and leads positively Passionate, Unconventional and Open Creates jobs Enhances peoples lives And reaps the rewards

    3. First Step: Exploration BITS, Pilani teaches you HOW to learn Compete but yet Collaborate in a social environment Rules, Ethics, Morality etc Gain real world experience – people and money Be open and inclusive while team building Trust-worthy, Fearless, Respectful, Lacking Greed Get to the bottom of everything but don’t get stuck “Analysis Paralysis” Be thrilled by the things around you

    4. Pain Points - Opportunities It is a myth to assume that all problems have been solvedIt is a myth to assume that all problems have been solved

    5. RISK

    6. Funding Sources Angel Investors Self, family – sold on the idea! Wealthy individuals with industry background or individual funds Small investment (~ $1M) in a very early-stage company (demo, 2-3 employees) Financial VCs – sophisticated money lenders Venture Capital, Private Equity and Hedge Funds Fund sizes: ~$25M to 10’s of billions Main goal ROI through IPOs, Mergers and Acquisitions (M&A), Dividends Strategic VCs Typically a division of a large company. Examples: Intel, Cisco, Siemens, AT&T, Strategic investment for Corporate expansion of product and/or sales Primarily or exclusively not concerned with ROI

    7. Funding Stages

    8. Funding Criteria

    9. Funding – a timeline perspective Source: Ten3 Coach

    10. Angel (Seed) Valuation Historically seed stage funding is limited to $1M+ higher risk – lower funding Seed valuations tend to be subjective Quality of the leadership Trust, enthusiasm etc Strength of intellectual property Time-to-market expectations Cap-ex and burn rates expectations Sector volatility

    11. VC( Series A) Evaluation 6 in 1000 business plans get funded on an average 5% of business plans are read beyond the executive summary 10% of proposals pass initial screening 10% of pre-screened proposals pass due diligence & receive funding

    12. State of the VC Industry Improvement in our business model over time: COS, R&D and SG&A decreases while operating profit and profitability increases -SIA WW semiconductor shipment growth slows to 0% from 2004’s 28% -Early-2005 looks difficult due to downturn in semi’s, semi capex, and soft handset manufacturing test -We are planning conservatively for 2005 to minimize downside risk by controlling headcount and expenses, but also take advantage of any upside opportunity -Plan based on mid-cycle correction, not general downturn -Agilent markets expected to gradually regain momentum in H2 -Intense competition will drive ASPs downward and apply pressure on our marginsImprovement in our business model over time: COS, R&D and SG&A decreases while operating profit and profitability increases -SIA WW semiconductor shipment growth slows to 0% from 2004’s 28% -Early-2005 looks difficult due to downturn in semi’s, semi capex, and soft handset manufacturing test -We are planning conservatively for 2005 to minimize downside risk by controlling headcount and expenses, but also take advantage of any upside opportunity -Plan based on mid-cycle correction, not general downturn -Agilent markets expected to gradually regain momentum in H2 -Intense competition will drive ASPs downward and apply pressure on our margins

    13. Chronology Lara Technology

    14. Financial Chronology of Amazon.com Source: Ten3 Coach

    15. Reward What is this? Why does this matter? Is that the end goal?

    16. Q & A

    17. BIO 80-83: ORG Systems, Baroda, Bangalore 84-86: Tata Elxsi, Singapore 87 : CSU, Chico, Summer job – Elxsi 87-89 : Full time Elxsi, Part-time CSU, San Jose 90 : MS Computer Engineering 89-91 : Via Technology 91-93 : co-Founder Nimbus Technology 93-97 : Alliance Semiconductor acquires Nimbus, built PCI multimedia chips 97- 01: Co-founded Lara Networks, EmpowerTel Networks June 01: Lara – pioneer in TCAM Acquired by Cypress June 02: EmpowerTel pioneer in VoIP Acquired by Ipunity Sept 03: Founded YuMe Networks – New Media Company pioneer in inserting RT video Ads July 06: Closed $7.2MM Series A funding for YuMe Dec 06: Stepped down from active duty at YuMe Mentoring Duke Graduates on entrepreneurship TiE Charter Member and Co-Chair of Media and Entertainment Five patents to date in routing, VoIP. Have applied for video over IP, DRM etc

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