silicon valley innovation (prague)
TRANSCRIPT
IkhlaqSidhu,contentauthor
Ikhlaq SidhuFounding Faculty Director Sutardja Center for Entrepreneurship & TechnologyDepartment of Industrial Engineering & Operations Research IEOR Emerging Area Professor Award
DemystifyingSiliconValleyEntrepreneurshipNewVenturesTacticsand Culture
IkhlaqSidhu,contentauthor
MyPerspective:Sutardja CenterforEntrepreneurship&Technology
CollegeofEngineering,UCBerkeley
ApproachBerkeleyMethod:Ø EntrepreneurshipØ InnovationLeadership
IkhlaqSidhu,contentauthor
LOTS OF ACTIVITY
CHALLENGE LAB
GLOBAL PROFESSORS
NZTV
SELF-DRIVINGCOLLIDER
DATA-X CHATBOT COLLIDER SCET IN TAIWANJOHN BATTELLE
FOUNDER WIRED MAGAZINE
NEWS COVERAGE
14 Courses1600+ Undergraduates80+ Ph.D / Graduate Students100+ Executives12+ Global Partners
MARRISAMAYER
IkhlaqSidhu,contentauthor
Misconception: We used to think that learning business and management would help technology innovators
Readingbusinesscasesstudiesoninnovation
Managementpracticesand
financialstatements
Makingapresentationtoraisefunds
Studyingbusiness
frameworks
Makingabusinessplan
Waitingforagreatidea
6thingsare notthemainingredienttodeployinnovationorstartventures.
IkhlaqSidhu,contentauthor
Ourmodelhasadapted:Businesstrainingisnottheonlykeyelement
Oureffectivenessformulais:• Depthinanvaluedarea• Entrepreneurial“behaviorsandmindset”
Ourprogramsandprojectsprovidethis.
Our model has adapted: Business training is not the key element
SkillinaCoreArea
InnovationBehaviorsandMindset“PsychologyofInnovation”
High Potential
Too Narrow
Street smart, but lacking depth
IkhlaqSidhu,contentauthor
OurnewestCourseIEOR135/290
AppliedDataScience(Data-XProjects)
IkhlaqSidhu,contentauthor
SampleProjectfromtheFirstData-XCourse
• Detectionoffakenews
• Predictionoflong-termenergypricestosolveamWallStreetproblem
• Predictionapplicationsstockmarket,sportsbetting,andmore
• AIforCrimedetection,trafficguidance,medicaldiagnostics,..etc
• AversionofZillowthatisrecalculatedwiththeeffectsofAirBnB income
• andmanymore…
IkhlaqSidhu,contentauthor
Ourmodelhasadapted:Businesstrainingisnottheonlykeyelement
Our offerings range in technical depth vs breadth
SkillinaCoreArea
InnovationBehaviorsandMindset“PsychologyofInnovation”
High Potential
Taught in situation, during the journey
ChallengeLabs
SVIL/ELPP
AppliedDataAlt.meat…
Social/Business
TechnicalDepth
IkhlaqSidhu,contentauthor
The Greater Silicon Valley: An Innovation Accelerator
My other perspective is Silicon Valley
IkhlaqSidhu,contentauthor
Silicon Valley – What is it like?
• Approx.6Mpeople
• 400,000+techjobs(~25%oftheworkforce)
• Moremillionaires&billionairespercapitathananywhereelseinUSandEurope
• Thousandsofexperiencedentrepreneurs.
• 50%ofallventureinvestingintheUS
• 2,000+angelinvestors,29ofthe100largestUScompanieshaveHQinSV
• Decisionsaremadeatlightningspeed
• Followupinhours,notdaysorweeks
DatafromUSMAC
IkhlaqSidhu,contentauthor
DemystifytheVentureCreationProcess
IkhlaqSidhu,contentauthor
UniversitiesandIndustryMisconception
Universities
SmartestPeople
NewVentures
Technology
Message1:AMisconception
IkhlaqSidhu,contentauthor
UniversitiesandIndustry
SmartestPeople
NewVentures
Technology
Thisismisconception
Universities
IkhlaqSidhu,contentauthor
UniversitiesandIndustry
Universities:StanfordBerkeleySmartest
People
WorldBrainDrain
LargeFirms
NewVentures
Create
Grow
SkilledEmployees
IkhlaqSidhu,contentauthor
UniversitiesandIndustry
Universities:StanfordBerkeleySmartest
People
WorldBrainDrain
LargeFirms
NewVentures
Create
Grow
SkilledEmployees
IkhlaqSidhu,contentauthor
ACriticalFactor
IkhlaqSidhu,contentauthor
• SanDiego• Chicago
TwoCitiesinUSA
Message2:(Innovation)CultureMatters
IkhlaqSidhu,contentauthor
ComponentsofAnyIndustryClusterorEcosystem
Government Policy
People with Skills
Venture Capital / Private Equity
Entrepreneurs Support System
Universities
Industry Base or Cluster
IkhlaqSidhu,contentauthor
ComponentsofAnyIndustryClusterorEcosystem
Government Policy
People with Skills
Venture Capital / Private Equity
Entrepreneurs Support System
Universities
Industry Base or Cluster
Hidden Essential Ingredient
IkhlaqSidhu,contentauthor
ComponentsofAnyIndustryClusterorEcosystem
Government Policy
People with Skills
Venture Capital / Private Equity
Entrepreneurs Support System
Universities
Industry Base or Cluster
Hidden Essential Ingredient
Innovation Culture& Mindset
IkhlaqSidhu,contentauthor
The Path to New Initiatives and New Businesses
T
S
ProgressonTechnologyand/or
Product
SocialProgressinDevelopingStakeholderEcosystem
IkhlaqSidhu,contentauthor
TechnologyReadinessLevel
DevelopedbyNASA
IkhlaqSidhu,contentauthor
InvestmentReadinessLevel
Version:BerkeleyMethodAdaptedfromSteveBlank
IkhlaqSidhu,contentauthor
Identify the Stage of Your Product
Business Investment Readiness
SystemTest,Launch,Ops
Technical Readiness
System/Subsystem
Demonstration
DevelopmentProgress
Feasibility
Research
Insight Story/Value
Validation BusinessModel
SalesProcess
CompleteEcosystem
OperationalMetrics
X
Y
Z
IkhlaqSidhu,contentauthor
Identify you making progress?
Business Investment Readiness
SystemTest,Launch,Ops
Technical Readiness
System/Subsystem
Demonstration
DevelopmentProgress
Feasibility
Research
Insight Story/Value
Validation BusinessModel
SalesProcess
CompleteEcosystem
OperationalMetrics
X
Y
Z
Progress:Logic,Market,Size,ValueProposition,Execution…
Progress:Connectors,PeopleAreJoining,StoryResonates,PR/News,Lotsoffriends…
IkhlaqSidhu,contentauthor
AdviceforResearchers
IkhlaqSidhu,contentauthor
Misconception
WorkinLabfor5years
ShowWorld
TheyLoveitAndadoptit
IkhlaqSidhu,contentauthor
Misconception
WorkinLabfor5years
ShowWorld
TheyLoveitAndadoptit
Instead:
InviteWorld(Industry)to
collaboratewithyou
Letthemtellyouwheretheindustrywillbe
in5years
Intersectwiththeirroadmapin2-3years
TheyLoveitAndadoptit
IkhlaqSidhu,contentauthor
Contact:
IkhlaqSidhuFacultyDirector,Sutardja CenterforEntrepreneurship&TechnologyIEOREmergingAreaProfessor,[email protected]
scet.berkeley.edu