Welcome Mayfield Fellows Program 2006 Engineering 140A Session #1 Management of Technology Ventures

1. WelcomeMayfield Fellows Program 2006Engineering 140A Session #1 Management of Technology Ventures

2. Agenda, Introductions, and Roles … Tina Seelig … Andrew Nelson … Lindsay Quadara … Tom Byers … Our 2005 Fellows

3. 2006 Fellows and Mentors

4. Icebreakers (Tina)

5. STVP is dedicated to accelerating high-technology entrepreneurship education and creating scholarly research. STVP believes that all majors including engineering, science and humanities need entrepreneurial skills to be successful at any level within an organization. STVP prepares students for leadership positions in industry, academics, and society. http://stvp.stanford.edu

6. STVP Approach RESEARCH TEACHING Create and deliver curricula for engineering education Support research on high-technology entrepreneurship OUTREACH Disseminate results to accelerate similar efforts worldwide

7. STVP’s “Customers” • Approximately 5,000 Stanford science and engineering students each year • Approximately 2,000 entrepreneurship professors and senior administrators at universities around the world • Approximately 2 million science and engineering students around the world

8. Why Teach Entrepreneurship to Engineers and Scientists? • Region’s economic development • Student’s skill development • University’s competitive advantage “Society needs engineers who not only solve engineering problems, but who can participate in bringing ideas and products to market.” --Frank Huband, Director, American Society of Engineering Educators

9. Skill Development for Future Technology Leaders • Decision-making in real-time • Comfort with uncertainty and change • Appreciation for teamwork and culture • Creativity and innovation • Persuasion and negotiation • Oral and written communication • Tools for building an organization • Basics of finance, marketing, strategy

10. “What is Entrepreneurship” Exercise?

11. Entrepreneurship "Entrepreneurship is a management style that involves pursuing opportunity without regard to the resources currently controlled. Entrepreneurs identify opportunity, assemble required resources, implement a practical action plan, and harvest the rewards in a timely, flexible way." “Any attempt at new business or new venture creation, such as self-employment, a new business organization, or the expansion of an existing business, by an individual, a team, or an established business.” Bottom Line … A Way of Managing/Leading; Process Can be Taught/Learned References: Harvard Business School and Babson College

12. What is High-Technology? Software & Internet (Google) Biotech and Medical Devices (Genentech) Computers (Dell) Telecommunications and Networking (Cisco) Semiconductors (Intel)

13. Mayfield Fellows Program 2006 • Each Fellow has 3 Mentors! • Venture Capitalist • Alumnus of MFP • Entrepreneur @ Summer Employer 3 Courses + Paid Summer Internship I. SPRINGStudents learn structure and methods of start-ups; Students matched with paid assignments at high tech start-up companies III. AUTUMNStudents bring back experiences and learn from them as a group II. SUMMERLeverage the power of real- world, hands-on experience

14. ~70% 90%+ Through MFP! The Essence of Entrepreneurship is Action (Fits Well with Kolb’s “Stages of Learning” Model) • Thinking & Conceptualization • Watching & Observation • Feeling (Passive Experience) • Doing and Active Experience “Learning is based on discovery guided by mentoring rather than on the transmission of information.” ~ Boyer Commission Report on Undergraduate Education

15. A Deeper Look at Our First Course: E140A

16. Where Does MFP Fit? Reference: Steven Brandt

17. 3 Texts/Case Collections: Moore, Course Reader (including Collins and Lazier), HBS Online 4 Key Models/Frameworks Including Collins and Lazier’s V-I-E, Moore’s Chasm, Cialdini’sInfluence, and Sahlman’s Dynamic Fit. 10 Cases Sessions 4 Special Sessions: Job Search, Accounting/Finance, Creativity, and Negotiation Tons Online: Video Clips, Web-based Readings and Email Broadcasts 7 ETL Seminars (http://etl.stanford.edu) Special MFP Events 31 Teachers and Mentors: 4 Stanford (Andrew, Tina, Tom, & Lindsay), 6 Venture Capital Mentors, 12 MFP Alumni Mentors, & 8 E140A Distinguished Guest in the House Case Openings and Email Homework Assignments with a Study Team Term Project on “Profile of an Effective Entrepreneur” with Study Team MFP Forum Summer Job Search and Selection Our Culture and Personality in MFP E140A “By the Numbers” Inputs Outputs Bottom Line? The theory of entrepreneurial leadership as preparation for the practical experience in the summer.

18. A “Success Formula” for MFP • Show up on time (with cell phones and other stuff turned way up please). • Be nice to people (e.g., constructive comments only, one speaker at a time). • Do what you say you will do and deliver more than you promise (both in class and out). • Do it with energy and passion … everyone contributes and participates. The teaching team commits to these items; we respectfully ask you to do the same. Reference: JM Perry

19. “Primary Question or Concern” Emails

20. A “To Do” List for this Week • Skim everything on the MFP and E140A’s site. • Prep for Session #2 regarding the job search … see session page on E140A site. • Prep for Session #3 on April 5 ... lots of reading to do and please form study/project teams for remainder of the quarter.