Innovation and Entrepreneurship

Sources of Business Opportunities-II

Venkatesh SarvasiddhiHead-Direct Marketing

HCL Technologies

Analysis of Existing Entrepreneurs

• Truly new, novel and innovative ideas: 3-4%

• Rest 96%

– Enhancement -- improvement / refinement of features – cheaper, better, faster, more user-friendly

– Extension to features

– Specialization -- niche’ creation

Enhancement, Extensions and Specializations

Enhancements Extensions

Specialization

Examples of Enhancement

• DOS to Windows

• Mechanical watch to quartz watch

• Ordinary TV to a flat screen TV

• Desktop PC to a laptop PC to a tablet PC

• Propeller engine to a jet engine

Most industrial innovations

Examples of Extensions• Toothbrush with a built in

toothpaste

• Pen with a torchlight

• Mobile handset with camera, FM radio,MP3 player ….

• Memory sticks with MP3 players

• Wristwatch with a calculator

• Cinema Multiplexes

Examples of Specialization

• Low cost airlines (Ryanair, Easyjet, Air Deccan)

• Boutique financial advisory services

• Super-specialty hospitals

• Finishing schools

• Executive search firms (CxOs only, finance professionals only)

Possible Service Opportunities

• Schools• Restaurants• Travel agency and tour

operators• Pet shops• Bookshops• Gyms / weight loss clinics

Critical Factors• Enhancement, Extension,

Specialization

• Basic value proposition

• Competition

• Market size

• Critical success factors

• Customer acquisition strategy

• Team skill set