Some basic debates
Born or made?
It cannot be taught..
It is only a matter of luck..
You do this because you cannot find a job
It is not for smart people
It is only for the money…
What are the Brazilian views?
Process of entrepreneurship
Due diligence
Market research
Business plans
Research groups
Individual academics
Industry research
Family business – diversification
Social need
Personal experience
Spotted a gap
New venture
Licence
Joint venture with
industry
New venture
New project
New Division
Spin off
Acquisition
Shane and Venketaraman, 2000
Complexity of technology commercialisation
Many ideasOpportunities
Business model
Choices
Sell IP
Licence
JV
New venture
Readiness – combines instinct/market information/customers
Lack of know how and know who..
Entrepreneurial Learning - Journey
INSPIRATION INTENTION INFORMATION IMPLEMENTATION
Postgraduate Diploma in Entrepreneurship
Using experience to filter ideas
• Social networks
• Access to experience
• Access to tacit knowledge – covering the knowledge gap
• Access to the right kinds of advice
• Sources of creative suggestions
Until 1985
1986-1990
1991-1995
1996-2000
2001-2002
CambridgeUniversity
AcornHermann
Hauser
Acquired by
Olivetti
Olivetti
Research LabAndy Hopper
Adaptive
Broadband
Cambridge
BroadbandAcquired by American
Microwave
Acquired by
Western
Multiplex
Corp
Andy Hopper
Peter Warton
IPV (Telemedia
Systems)
Andy Hopper
Virata(ATML)
Hermann Hauser
Andy Hopper
Merged with
Globespan
Acquired by AT &T
RealVNC
Virtual Network
Computing Level5NetworkAndy Hopper
ANTAlex van Someren
Nicko van Someren
nCipherAlex van Someren
Nicko van Someren
NetchannelHermann Hauser
Jack Lang
Acquired by
NTL
ARMElement 14
Stan Boland
Simon Knowles
Acquired by
Broadcom
Amadeus Capital PartnersHermann Hauser
IQ BioHermann Hauser, Chris Keightley
Part of DAKO
Diagnostics DakoCytomation -
Merged with
Cytomation Inc
CDT
Richard Friend
Richard Friend Plastic Logic
Analysys
David Cleevely
Cambridge
Network
David Cleevely
Hermann Hauser
Alec Broers
Cambridge
3G
David Cleevely
CPSPeter Duffett-Smith
Polight
Technologies
Stephen Elliott
Pavel Krecmer
ART
Daniel Hall
Pilgrim BeartActiveRF
Pilgrim Beart
Antenova
Zeus
Technology
Adam Twiss
David Reeves
Cambridge
Semiconductor
Gehan Amaratunga
Florin Udrea
MuscatJohn Snyder
Martin Porter Enterprise
AcceleratorJohn Snyder
John SnyderWebtop
Smartlogik
Acquired by Dialog
Small
World
Richard Green
Authur Chance
Dick Newell
CADShape Data
Charles Lang
Acquired by
GE
TensailsRichard Green
VBN
online
TerraPrise
Ubisense
Andy Hopper
Steve Pope
Andy Hopper
Andy Ward
Pete
StegglesSimon Elliott
David Cleevely
Electronic Share
InformationAcquired by
E* Trade
Hermann Hauser
Jack LangTop
expressJack Lang
Splashpower
Lily Chang
James Hay
Saviso Group
Adam Twiss
Bryan Amesbury
Innovia
Collin Ager
Garraint Davies
Cambridge Interactive Systems
Hermann Hauser
Mike Muller
Tudor Brown
Jamie Urquhart
Dick Newell, Tom Sancha
Stan Boland
Simon Knowles
Icera
Laser-ScanR. O. Frisch
M-Spatial
Adrian Cuthbert
Jon Billing Acorn alumni
Phineas Gage (1848)Phineas Gage (1848)
Tamping Iron....Tamping Iron....
Damasio et al. 1994
Opportunity Recognition
What if 3M says No at each stage?
Technology-Driven Business Building
Brightness
Enhancement
Film
LCD
Film
LED Light Mixing
Light Control
FLG
X-ray
Scan
Notched
Fiber
Large-Diameter
Optical Fiber
FILM
1964 1970 1980 1990 2000
Optical
Lighting
Film
Glare-free
Overhead
Projector
Lens
Lens
Film
Traffic
Signal
Linear
Solar
Concen-
tratorDay
lighting
Total
Internal
Reflection
Overhead
Projector
Lens
Radial
Solar
Concentrator
Multi focal
Interocular
Lens
Low-profile
Overhead
ProjectorMicro lenses
Structured
Surface
Abrasives
Shaped
Particles
Trizact
Abrasives
Scotchlite
DGS
Internally
Lit Signs
Light
Pole
Lighted
Guidance
Tube
Lighted
Lane
Marker
Lane MarkersFluorescent
DGS
Conspicuity
DG3
Stem Web
Tape
Control
TAC
Smart
AdhesivesMicro Comply
Electrical Connectors
Structured
Surface
Filter ISO
porous
Structured
Surface Sensor
Micro-channel
cooling
Fluid
Transport
High flow
Filter
Programmed
Optics for Signs
Griplets
LENSES
ILLUMINATION
REFLECTIVE
MATERIALS
ABRASIVES
ADHESIVES
MATERIALS
ELECTRONICS
Prism
Reflectivity
Reclosable
Fasteners
Wide Angle
DGS
Cube corner
Diamond
Grade
Sheeting
One of the best known No No No
• Monoclonal antibodies...
• BTG – Stalled development
• Genentech
• CAT – Humira
• And the rest is history
Most painful errors in entrepreneurship –
Type II and Type III decisions
Yes
No
FailureSuccess
I
II
III
IV
How can we avoid Type II decision errors?
• Say Yes – Opportunity is a success = Hero!
• Say Yes – Opportunity fails = Crucified
• Say No – Opportunity is a success = Philosopher!
• Say No – Opportunity fails = Heroic philosopher!!
Consequence – No is the most frequently heard expression
faced by entrepreneurs! And it comes in many forms!
Technology dependent opportunity
Technical
attributes
Technical
advantageApplications
Applications -
commercial
advantages
Significant
wins
Viable
applications
Filter
Comparison
With rival
technologies
10x
2X
1X
Create and
Understand
Potential
Applications
segmentation
Market dynamics
Routes to market
Commercialisation
M
A
R
K
E
T
S
Market size
Return on investment
Business models
Team competence
Vision
Faster
Smaller
Cheaper
New effects
C
O
M
P
A
R
I
S
O
N
F
U
N
D
A
M
E
N
T
A
L
S
B
R
A
I
N
S
T
O
R
M
M
A
R
K
E
T
R
E
A
L
I
T
I
E
S
Market Driven Opportunities
Advantage
USP
Competition
Tapping into trends
Supply advantage
Brand leverage
Disruptive or
Incremental
Attributes
Aspirin
Vitamin
Markets
Segments
Growth
Sizes
Gap in the market
Positioning
Location
Commercial
advantages
Price points
Margins
Cash flow
Strategic directions for the future
Barriers to entry
Long term sustainability
Significant
wins
Biggest
markets
Ambition:
Lifestyle
Growth
Investments
ROI
Risks
Window of Opportunity
Speed of execution
Business model
Impact on family
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