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Entrepreneurship

Entrepreneurship. Jun Li July 28, 2010 Peking University. 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

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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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