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Technology Ventures : From Idea to Opportunity

From idea to enterprise. ENT 4000 - An introduction. Chapter 1: Introduction. Technology Ventures : From Idea to Opportunity. What is entrepreneurship? . Chapter 1: concept. Technology Ventures : From Idea to Opportunity. Entrepreneurship defined.

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Technology Ventures : From Idea to Opportunity

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  1. From idea to enterprise ENT 4000 - An introduction Chapter 1: Introduction Technology Ventures: From Idea to Opportunity

  2. What is entrepreneurship? Chapter 1: concept Technology Ventures: From Idea to Opportunity

  3. Entrepreneurship defined Entrepreneurship can be defined as an activity which involves the process of discovery and exploitation of a new opportunity… (Scott Shane, 2003) Chapter 1: Introduction Technology Ventures: From Idea to Opportunity

  4. An entrepreneur is a person who undertakes the creation of an enterprise or business; a person who identify and exploit opportunities… Chapter 1: concept Technology Ventures: From Idea to Opportunity

  5. Schumpeterian entrepreneurship Creative destruction (creates economic disequilibrium) Requires new information Innovative More seldom Involves creation (invention, etc.) Kirznerian entrepreneurship Contributes to create market equilibrium Does not require new information Less innovative More common Does not involve creation - limited to the discovery of an unmet demand in the market

  6. An opportunity is a favorable juncture (point in time) of circumstances with a good chance for success or progress. It is the job of the entrepreneur to locate new ideas and to put them into action. Thus, entrepreneurship may be described as the identification and exploitation of previously unexploited opportunities. Chapter 1: concept Technology Ventures: From Idea to Opportunity

  7. An Attractive Opportunity Finding the Right Opportunity • Timely • Solvable • Important • Profitable • Favorable Context TheSweetSpot • Like to do the tasks • Like the challenge • Committed to do what is necessary • Skilled at the neededtasks Interests, Passions, Commitment Capabilities & Skills Chapter 1: Figure 1.1 - Finding the Right Opportunity Technology Ventures: From Idea to Opportunity

  8. The concept of entrepreneurial capital The capacity to co-ordinate resources The capacity to identify opportunities The capacity to see ventures through to fruition Erikson, T. Venture Capital Journal (2001) Chapter 1: Exercise 1.3 Technology Ventures: From Idea to Opportunity

  9. Entrepreneurial capital is a (multiplicative) function of entrepreneurial competence and entrepreneurial commitment Erikson, T. 2002. Journal of Business Venturing Chapter 1: concept Technology Ventures: From Idea to Opportunity

  10. The intellectual capital of an organization is the talents of its people, the efficacy of its management systems, the effectiveness of its customer and supplier relations, and the technological knowledge employed and shared among its people and processes. Chapter 1: concept Technology Ventures: From Idea to Opportunity

  11. In other words, IC = HC + OC + SC That is, intellectual capital is a function of human capital, organisationsal capital, and social capital. Chapter 1: concept Technology Ventures: From Idea to Opportunity

  12. Inputs The (role of the) Firm Outputs Raw Materials Components &Modules Products & Services Financial Capital Physical Assets Technologies Chapter 1: Figure 1.3 – Transforming available inputs into desired outputs Technology Ventures: From Idea to Opportunity

  13. Dynamic Capitalism is the process of wealth creation characterized by the dynamics of new, creative firms forming and growing and old, large firms declining and failing. Creative Destructionis the entrepreneurial activity of destroying old models and creating new models of doing business. Chapter 1: concept Technology Ventures: From Idea to Opportunity

  14. Principle 1The entrepreneur develops an enterprise with the purpose of creating wealth and prosperity for all participants – investors, customers, suppliers, employees, and themselves – using a combination of intellectual and entrepreneurial capital. Chapter 1: Principle 1 Technology Ventures: From Idea to Opportunity

  15. Complete the following tasks in order to select a favorable opportunity for yourself or your team. • Describe an opportunity that is attractive to you. • Describe the competencies and skills you and your team members possess. • Describe the passion and commitment you have for the opportunity. • Is this a good opportunity for you? Chapter 1: Exercise 1.3 Technology Ventures: From Idea to Opportunity

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