2013 Technology Entrepreneurship Boot Camp

1. 2013 Technology Entrepreneurship Boot Camp CITE BootCamp February 2013

2. 2012 Technology Entrepreneurship Boot CampSponsored by Jackson Walker Dr. Anita Leffel UTSA Center for Innovation and Technology Entrepreneurship http://entrepreneur.utsa.edu CITE BootCamp February 2013

3. Technology Entrepreneurship • Technology Entrepreneurship is a major driver of our economy and is growing in San Antonio CITE BootCamp February 2013

4. So Let’s Play Spot the Entrepreneur CITE BootCamp February 2013

5. OK, That was easy – let’s make it a little harder CITE BootCamp February 2013

6. Oprah B) Richard C) Bill D) Crazy Scientist 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? CITE BootCamp February 2013

8. The former have these CITE BootCamp February 2013

9. The latter have these CITE BootCamp February 2013

10. Do You Have The Courage to be a Tech Entrepreneur? CITE BootCamp February 2013

11. 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?) CITE BootCamp February 2013

12. …whatever • 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) • www.whateverlife.com • Fastcompany.com Sept 2007 • http://www.fastcompany.com/magazine/118/girl-power.html CITE BootCamp February 2013

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

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? • Who are my next 10 000 customers • Who are my next 1 000 customers • Who are my next 100 customers 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 CITE BootCamp February 2013

15. Today’s Speakers Dr. Anita Leffel, CITE, Dept. of ETM
Ian Clemens, CEO ViroxisSaumil Shah, CEO, Live Oak Logic Sean Crandall, Associate, Jackson Walker LLP, UTSA Alum Jim Poage, President and CEO, Startech Nicole Gewinner, Associate, Jackson Walker LLP Tom Roberts, CEO, Invictus Eric Eisbrenner, CFO Invictus CITE BootCamp February 2013

16. Agenda CITE BootCamp February 2013

17. In the field of observation, chance only favors minds which are prepared. Louis Pasteur Summary 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. CITE BootCamp February 2013

18. Six steps to Acting as a Technology Entrepreneur CITE BootCamp February 2013

19. Opportunity Pull 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. CITE BootCamp February 2013

20. Opportunity Push Types of Opportunity: Capability Push: a new technology or capability causes a search for new applications. Example: Digital Television CITE BootCamp February 2013

21. 9 Types of Opportunity Nine Categories of Opportunity:1. Increasing the value of a product or a service 2. New applications of existing means or technologies 3. Creating mass markets 4. Customization for individuals 5. Increasing reach 6. Managing the supply chain 7. Convergence of change 8. Process innovation 9. Increasing the scale of the firm CITE BootCamp February 2013

22. Discontinuity as an Opportunity • Evaluating an Opportunity: Sources of Discontinuities • I. Society • Aging Society • Lifelong Education • Food and Population • Regulation • II. Technology • Innovation • Disruptive Technologies • New Knowledge • III. Markets • Deregulation • Supply Chain disruption CITE BootCamp February 2013

23. Green Light for an Opportunity 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 Characteristics of the Context• Timeliness• Favorable industry conditions• Future conditions appear favorable 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 Resources• Capable of securing access to the human, financial, and physical resources required by the opportunity CITE BootCamp February 2013

24. TIME TO GET STARTED UTSA Center for Innovation and Technology Entrepreneurship (CITE) CITE BootCamp February 2013

25. 2013 Technology Entrepreneurship Boot Camp CITE BootCamp February 2013