UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011 Slide 1
Dr. Cory R. A. HallamDirector
UTSA Center for Innovation and Technology Entrepreneurship
http://entrepreneur.utsa.edu
2011 Technology Entrepreneurship Boot Camp
Sponsored by Jackson Walker
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011 Slide 2
Technology Entrepreneurship
• Technology Entrepreneurship is a major driver of our economy and is growing in San Antonio
U.S. Job Creation by Firm Size
< 100
100 - 499
500+
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011
So Let’s Play Spot the Entrepreneur
Slide 3
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011 4
OK, That was easy – let’s make it a little harder
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011 5
A) Oprah
B) Richard
C) Bill
D) Crazy Scientist
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011 6
Don’t get confused
Between inventors and entrepreneurs
• Inventors create new technologies (ideas)• Entrepreneurs create new business (money)• Which one has the better ROI?
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011 7
The former have these
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011 8
The latter have these
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011
Do You Have The Courage?
Slide 9
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011 Slide 10
The Growth “Rule of Ten”
• Who is my first customer – Why will they pay me for my
product/service?– How will I secure the deal?– What resources do I need to
complete the transaction?
Each growth by a factor of ten requires the
entrepreneur to evaluate how they will
do business
Without this vision forget going into business
•Who are my next 10 customers
•Who are my next 100 customers
•Who are my next 1 000 customers
•Who are my next 10 000 customers
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011
Today’s Speakers
Slide 11
Dr. Cory Hallam, Director of CITE, Faculty of Business and Engineering Stephanie Chandler, Partner, Jackson Walker LLP George Karutz, Partner, Karutz Flavin Wells Investment Bankers Vin Montes, Founder and CEO, UTSA Alum Rudy de la Garza, CEO First Dominion Financial, CFO IFS Sean Crandall, Associate, Jackson Walker LLP, UTSA Alum Deb Bolner Prost, CEO It’s 2 Cool, Ltd. and Prost Marketing, UTSA Alum
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011
Agenda
8:30 - 9:00 a.m. Registration and Continental Breakfast9:00 - 9:30 a.m. Welcome – Identifying your opportunity
- Cory Hallam Director of CITE
9:30 - 10:30 a.m. How to legally structure your company and raise the cash– Stephanie Chandler, Partner, Jackson Walker LLP, and– George Karutz, Partner, Karutz Flavin Wells Investment Bankers
10:30 - 10:45 a.m. Break
10:45 - 12:00 p.m. Keynote, the NERD Beverage Story– Vin Montes, Founder and CEO
12:00 - 12:30 p.m. Lunch
12:30 - 1:15 p.m. Your Weapons: Elevator Pitch, Slide Deck, and Business Plan– Rudy de la Garza, CEO First Dominion Financial, CFO IFS
1:15 - 2:00 p.m. Intellectual Property: How to protect your idea and brand– Sean Crandall, Associate, Jackson Walker LLP
2:00 - 2:15 p.m. Break
2:15 - 3:00 p.m. Marketing your new idea– Deb Bolner Prost, CEO It’s 2 Cool, Ltd. and Prost Marketing
3:00 - 3:30 p.m. Boot Camp Wrap-Up3:30 - 5:00 p.m. Teambuilding for the UTSA $100K competition
Slide 12
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
In the field of observation, chance only favors minds which are prepared.
Louis Pasteur
How can an entrepreneur identify and select a valuable opportunity?
The choice of an opportunity and the decision to act is a critical juncture in the life of an entrepreneur. With the decision to act, the entrepreneur prepares a business summary for the venture that is used to test the new venture with potential investors, employees, and customers.
Summary
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
Identifying the Opportunity
Determining the Entrepreneur’s capabilities and interests
Evaluating the opportunity
Writing a summary of the concept
Testing the summary and the concept with potential customers
and investors
Deciding to act on the opportunityor look elsewhere
Six steps to Acting as a Technology Entrepreneur
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
Types of Opportunity:Opportunity Pull:
the size of the opportunity attracts opportunity seekers to attempting to exploit it.
Example:
A drug to mitigate the effect of Alzheimer’s disease.
Opportunity Pull
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
Types of Opportunity:Capability Push:
a new technology or capability causes a search for new applications.
Example:
Digital Television
Opportunity Push
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
Nine Categories of Opportunity:1. Increasing the value of a product or a service2. New applications of existing means or technologies3. Creating mass markets4. Customization for individuals5. Increasing reach6. Managing the supply chain7. Convergence of change8. Process innovation9. Increasing the scale of the firm
9 Types of Opportunity
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
Evaluating an Opportunity: Sources of DiscontinuitiesI. Society
Aging SocietyLifelong EducationFood and PopulationRegulation
II. TechnologyInnovationDisruptive TechnologiesNew Knowledge
III. MarketsDeregulationSupply Chain disruption
Discontinuity as an Opportunity
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
Characteristics of Entrepreneurial Teams • Positive attitudes towards independence, achievement, and innovation • Acceptance of risk and demanding work effort • Capabilities matching the needs of the venture • Willing to make the commitment required • Passionate about the opportunity
Resources • Capable of securing access to the human, financial, and physical resources required by the opportunity
Characteristics of the Context• Timeliness• Favorable industry conditions• Future conditions appear favorable
Green Light for an Opportunity
Characteristics of the Opportunity • Novelty of the product • Potential for sustainable long-term success • Potential for good return on investment • Potential for a growing market • Good risk-versus-reward balance • Customers are known and responsive
UTSA Colleges of Business and Engineering
TAKE YOUR TECHNOLOGY TO THE LIMIT!
CITE BootCamp January 2011
TIME TO GET STARTED
Slide 20
UTSA Center for Innovation and Technology Entrepreneurship (CITE)