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Course overview

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Hello, and welcome to E145, Technology Entrepreneurship. In this video I´ll given an overview of the course Today´s agenda is to do some introductions and talk a little bit about what you´ll be learn in this class and to talk about definitions of technology entrepreneuship I´ll talk a little bit about the course design and logistics and then some others opportunities for entrepreneurship education at Stanford So, first of all an introduction to the teaching team which includes myself a couple of course assistants and a number of exciting guest speakers in Silicon Valley who we will be bringing in So, as for me, my name is Chuck Eesley, I am a faculty member in the Stanford´s department of Management Science & Engineering and also part of the Standford technology ventures program and before Stanford I spent four years at MIT dong my PhD there in the Sloan School of Management studying the success factors and early strategic decisions that played a role in technology-based entrepreneurs both in the US and in China. Prior to MIT, I did my undergraduate studies as Duke University, where I got my start in entrepreneurship working on a company called Sundance Genetics with a professor in the biology department. So, in addition to studying entrepreneurship, I've also been an entrepreneur. Well at MIT, I worked on an educational software firm and also created a life sciences consulting firm called Lobby10 Consulting. In addition, I work with two venture capital firms Lux Capital, where I focussed on biotech and clean energy and worked with one of their portfolio companies, Genocea Biosciences. and also with Flagship Ventures, where I focussed on medical devices investments.. I've also mentored many startups in the MIT 100K business plan competition and the Ignite Clean Energy competition The course assistants for the class are Tim Ott and Henning Plezunka they are both PhD students in our department and have backgrounds in IT consulting, and also co-founding companies of their own. We have an exciting line-up of guest speakers for you which will both be coming into the class and also recording some videos here for those students watching online. So this includes entrepreneurs, including a co-founder at LinkedIn Lew Cirne who founded Wily Technologies Corey Reese who founded Ness, an exciting mobile search app as well as venture capitalists from Silicon Valley including Henry Wong, of Garage Ventures Miriam Rivera and Clint Corver and Randy Komisar from Kleiner Perkins So now it's your turn For the students who are watching online I encourage you to go to the forum and tell us a little bit about yourself and your background. Hopefully you might be able to also find other students who are taking the class online area and get together to talk about your ventures and even the cases and issues coming up in the class. For the Stanford students, this is the point where we will talk a little bit about where you're from what year you are at Stanford, what your major is and so on So what's different about this course? First of all, this is a class in the engineering department at Stanford We'll be taking a science and engineering approach to building high-tech ventures. This will include applying a version of the scientific method to the start-up process. We'll also be combining both theory and practice in the class. You'll be working on your own start-up ventures, and we'll also be providing a broader framework and way to think about what it is you're doing in an entrepreneurial venture. The class will be driven by research. Most entrepreneurship classes tend to be a successful entrepreneur coming in and telling stories from their own experience. But, we have an opportunity in this class to look at some of the research that actually examines across many, many ventures, what are the characteristics of those that tend to be successful, versus those that tend to be more likely to fail. So, what will you learn as part of this class? You'll learn to articulate a process for taking a new technology and finding a high-potential, commercial opportunity. You'll create and verify a business plan for gathering resources such as talent and capital and you'll also create and verify a business model for how the marketing, distribution - all the various pieces that go into a new technology-based venture come together You'll then be able to generalise this entrepreneurial mindset in this process to something that kind be applied in larger companies or other settings, even to create new non-profit organisations. These are important skills for 21st century technology leaders and so we're going to be building some of these skills as well as dispelling some common myths and misconceptions about entrepreneurship. So what's our way of teaching and learning technology entrepreneurships? We will be providing some basic terminology and concepts through the readings that we're going to be doing and the lecture discussions. You'll be learning critical thinking through some of the case studies, as well as teamwork through your own start-up ventures and the presentations you'll make as a team for the opportunity analysis and opportunity execution projects. And then finally, you'll be doing a bit of career planning through the personal business plan you'll be writing towards the end of the course. So, what is entrepreneurship? What do you think the definition of entrepreneurship is? One definition that I particularly like is that entrepreneurship is a management and leadership style that involves pursuing opportunity without regard to the resources currently controlled. So what does this mean? This means that you see some opportunity either in a technology or in the market and despite the fact that you don't currently control all of the capital or all of the people that you need to take advantage of this opportunity you're going to pursue this opportunity nonetheless. So this comes from Greg Dees and my it's my belief that this process can be learned and it can be taught. There's of course a large component that's luck but for the rest of it we want to eliminate as many mistakes as possible. What is High-Technology? This is a class that's focussed on high-tech highly scalable ventures as different from starting a small business. Many of these things that you'll learn in the class can also be applied to a small business but our focus is going to be on technology-based ventures. And so, the thing that Intel, Google, Amazon.com, Apple, all of these diverse companies have in common is that they're applying some type of science or technology to solve a problem in society. So we'll be taking a close look throughout the course at technology entrepreneurship. This is an important topic because entrepreneurship is known to be a key driver of economic growth and, according to the ??Coffin?? foundation start-ups create, in the US, approximately 3 million new jobs per year. So it's important for job creation as well. We'll be talking about the different types of technological advancements that start-ups use. These can either be revolutionary: something that's totally new to the world and create a whole new category or a whole new industry or they can be more evolutionary more incremental. Some faster, better, cheaper way of doing something that we're all already doing now. We'll talk a little bit in the next video about how we can see certain patterns. Here you can see various waves of technology that have been commercialised over time. So we'll be talking about whether we can use some of these patterns to inform us about how to go about creating a technology start-up. These are some of the start-ups created by Stanford alumni. So one thing I hope you get out of this course is that it was previous students who were very similar to you who were able to go on and form the teams that wound up creating these great companies that we all benefit from now. Just these twelve largest companies out of Stanford created almost half a million new jobs

Video Details

Duration: 21 minutes and 44 seconds
Country: United States
Language: English
Producer: Chuck Eesley
Views: 628
Posted by: ceesley on Mar 12, 2012

Overview of Technology Entrepreneurship

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