nanotera and busines idea short
DESCRIPTION
Nano-Tera Satellite Event 2014TRANSCRIPT
1/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
From Technology to Business Idea (or vice versa)
A few words about Opportunity, Benefits & “USP” Key ingredients for a start-up Business Innovation – benefits, dimensions & model Stages in the start-up process
2/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
A Few Words On Opportunity - 1
What is it? A problem, a need, a desire that can be well identified … … and for which a solution can be developed to delight well identified customers
Where to find it? 1. Unexpected occurrences (IBM - first computers)2. Incongruities (Alcon – cataract; Ships - container)3. Process needs (Newspapers – speed printing & advertising as societal innovation)4. Industry and market changes (New/De-regulation – telephone operators)5. Demographic changes (Aging of population – house services for elderly
people)6. Changes in perception (Fashion – Benetton)7. New knowledge (Scientific/Technical – Genome, wireless communications, etc.)8. …
Source: The Discipline of Innovation – Peter Drucker (HBR – August 2002)
3/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
A Few Words On Opportunity - 2
How to identify it?
Constant/systematic look for it, permanent attitude, mindset
How to present your solution?
What are the unique customer benefits
What is the market for it and the competition
How money can be made out of it
4/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
Customer Benefits (vs. alternatives/competition)
Cheaper Faster Lighter Safer Simpler Smaller
More attractive More comfortable More convenient More flexible More reliable More ...
Example: It is 60% faster than competitive products, such as…
+ What is the market for it? What kind of customers?
5/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
Technology and Innovation Environment
D
evelo
pmen
t
Research T
NATURE
MARKETSUniversity Industry
MarketingI
Technology Push Market Pull
6/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
USP: Positioning & Differentiation Statements
Positioning Statement For (target customer) Who (statement of needs) Our Product/Service*, (name), is a (product/service category) That provides (key statement of benefit).
Differentiation Unlike (the alternative product – competition & its limitations) Our Product provides (statement of primary differentiation).
Have a Strong, Crisp, Simple USP for your target market* or Business System
Should
be le
ss t
han 4
00 ch
aracte
rs
7/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
Key ingredients for a start-up
Management Team
Business Idea
Market
New Enterprise
8/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
Initial Evaluation of Business Idea
1. What exactly is innovative? How better performing? Competitive Advantage? Protectable?
2. What real/strong need does it meet? Who is the customer? How can he/she be reached?
3. How large is the market? How fast is the market growing? What is the competition?
4. What are the costs involved? What price can be asked? How the product/service makes money?
5. Is the Business Idea doable in a reasonable time frame and with a manageable risk?
Is it “greatly”(better) solving an important and valuable problem ...… for well identified customers who have money…
… who are ready to pay the price and buy soon …
… and will buy more in the near future?Adapted from Ken Morse at MIT Nece
ssary T
esting & Adjustm
ents:
Talk to many p
otential
Customers
9/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
Nine Attributes of the Entrepreneur
A high level of drive and energy Enough self-confidence to take
carefully calculated risks A clear idea of money as way of
keeping score, and as a means of generating more money still
The ability to get other people to work with you and for you productively
High but realistic achievable goals
Belief that you can control your own destiny
Readiness to learn from your own mistakes and failures
A long term vision of the future of your business
Intensive competitive urge, with self-imposed standards.
Source: Stevenson Howard, Entrepreneurship Venture, Harvard Business Press, 1999
10/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
Prize/Award
Stages in start-up process & financing for growth
Rea
lizat
ion
of g
ains
Source: Adapted from Thomas Kubr, el. al, Planning for Growth, McKinsey & Company, Inc, 1997
Inte
rest
by
inve
stor
s
Business Planning Fina
ncin
gD
ecis
ion
Industrial Partner / Public Support Program
Own Means, FFF
Business Angel
Venture Capital 1
Venture Capital 2
VC or Bank Loans
Established Business
Fina
ncin
g gr
owth
Start-up andexpansion
Capital Market
IPO
Development of Business idea
11/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
A rich and dense ecosystem
The ecosystem
Poles of excellence
Training
Incubators& coaching
Funding ofresearch
Financiers
Generate Develop Launch Grow
Innovation &Tech. Transfer
12/12Executive MBA in Management of Technology - MoThttp://mot.epfl.ch Jean Micol
From Technology to Business Idea (or vice versa)
Moving from researcher to entrepreneur: It is a different mindset It can be adopted by any one It can be a fantastic adventure
Additional info on http://mot.epfl.ch under links