1. Why a startup

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tup Make a dent in

the universe

Build something that someone else thinks is important

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Be your own boss

Take control and responsibility for your living

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Get a hands-on MBA

2. The Business idea

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The original idea is an almost negligible part of a business

Ideas are cheap, execution is hard!

“I had the idea for eBay. If only I had acted on it, I’d be a billionaire!”

-ReWorkFlickr:IvanClow

so you had the idea ...... what now?

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1) Do basic homework on competition

www.crunchbase.com

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2) Find a core founders team ...

To build a prototype

With complementary skills

(more on team later)

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3) Check timing

Timing is crucial

External factors (market, competition, ...)

A lot more crucial than you would think!

http://en.wikipedia.org/wiki/Outliers_(book)

and just get started

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In the beginning

Maybe don’t quit your job right away,spend lunch, evenings, weekends with the project

Being grad student is ideal, especially if project related to your work

on copying ideas

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Should you copy ideas?

http://techcrunch.com/2007/05/14/web-2-in-germany-copy-paste-innovation-or-more/

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Flickr:lazzarello

“Copying” ideas is ok

copying products may be risky

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When copying products may workLocal restrictions to product (banking, accounting, commerce)

Local user group (language!)

Timing

Huge technological advantage

User dynamics (Twitter vs. Jaiku, “nightclubs”)

Or some other key advantage...

How we did it

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How we did it: idea for kooaba

I was a bit interested in QR codes originally (2004)

Let try some students object recognition on mobile phones (2005)

Founded company with Herbert Bay in 2006

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How we did it: idea for Polar Rose

Had some 3D face reconstruction results, wanted to see if that could do face recognition

Started company by myself, built working system

First browser plugin & search idea born (chosen among many options at the time)

Q & A

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Resources

Crunchbase www.crunchbase.com

Outliers (on timing as success factor) http://en.wikipedia.org/wiki/Outliers_(book)