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Creative leadership   g igi wang
 

Creative leadership g igi wang

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    Creative leadership   g igi wang Creative leadership g igi wang Presentation Transcript

    • Creative Leadership:Innovation & EntrepreneurshipGigi WangBoard Member & Chair EmeritusKreative.Asia CXO Day6 April 2012
    • It  Starts  with  Culture     In  addion  to  the  excellent  academic   instuons  and  R&D,  governmental  support,  and  access  to  investment  capital,   it’s  the  culture  that  really  makes  a  region   like  Silicon  Valley  so  unique  and  wildly   successful  
    • It  Starts  with  Trust  Ø  Trust  begins  with  open-­‐ness  &   transparency   –  EX:    People  don’t  trust  governments  which   aren’t  transparent    Ø  Prac<ce  being  open  and  sharing   informa<on,  build  trust  Ø  Trust  must  be  mutual  or  it’s  not  win-­‐win  Ø  Where  there  is  trust,  the  culture  is  good    
    • Open-­‐ness  Exercise  EXERCISE  is  to  prac<ce  being  open  and  build  trust  1.  Get  an  open-­‐ness  worksheet  2.  Pick  a  partner  –  It  has  to  be  someone   you  don’t  know  3.  Prac<ce  being  open  and  sharing   informa<on,  build  trust  by  interviewing   each  other  and  filling  out  the  work  sheet    
    • Risk-­‐Taking   Ø  RISK-­‐TAKING:    Innova<on  and   entrepreneurship  requires  risk-­‐taking  in   addi<on  to  passion.       Ø  Go  beyond  your  comfort  zone.  Either  in   doing  a  prototype  or  visi<ng  a  new   places  –  Cultural  Tourism   Ø  Failure  is  good.  Making  mistakes  leads  to   valuable  experience  and  knowledge.  “I have not failed. I’ve just found 10,000 ways that won’t work.” Thomas Edison  
    • CollaboraBon  Ø  COLLABORATION:    People  need  to  share   ideas  and  work  on  problems  together,  even   compe<tors  Ø  Lots  of  Networking  in  environment  of  open-­‐ ness     •  Krea<ve.Asia  is  a  great  example  Ø  In  the  high-­‐tech  world,  it’s  not  about   figh<ng  over  the  exis<ng  pie,  but   GROWING  the  pie  together  
    • Integrity  Ø  INTEGRITY:    High  level  of  integrity  required   when  being  open  and  collabora<ng  Ø   Non-­‐Disclosure  Agreement  (NDA)  is   standard  procedure  and  captures  intent  Ø  Rela<onship  Integrity  –  very  key  concept.   Always  making  sure  that  it’s  about                 “Give  &  Take”  and  that  “Win-­‐Win-­‐Win”  is   the  objec<ve  
    • Accessibility  Ø  ACCESSIBILITY:    Access  to  experience  and   resources  to  new  entrepreneurs  Ø  Budding  entrepreneurs  à  Go  to  events,   talk  to  strangers.    No  need  for  introduc<ons   (Asian  trait)  –  take  a  risk  and  introduce   yourself  Ø  Successful  entrepreneurs  and  leaders  à  Be   open.  Talk  to  the  young  entrepreneurs,   share  your  valuable  advice  and  learning  
    • ConstrucBve  Feedback  Ø  FEEDBACK:    Absolutely  cri<cal  to  get   feedback  to  understand  what  you’ve   done  right  and  what  you’ve  done  wrong  Ø  Needs  to  be  “construcBve  feedback”   NOT  “negaBve  criBcism”  Ø  Delivering  “nega<ve  cri<cism”  to  make   yourself  feel  more  powerful  or   important  is  disgusBng  
    • Jealousy  (and  lack  therof)  Ø  JEALOUSY:    The  Silicon  Valley  exhibits  a   much  less  jealous  culture  than  many   places  in  Europe  and  Asia  Ø  Instead  of  being  jealous  when  someone   else  does  beaer,  see  it  as  an  opportunity   to  have  a  rela<onship  with  someone   successful  Ø  More  construc<ve,  and  less  destruc<ve   for  a  company,  for  a  region,  for  a   country  
    • Develop  the  Right  Culture  Ø  Key  characteris<cs  include  open-­‐ness   and  collabora<on,  high  level  of  risk-­‐ taking,  and  the  “people  networking”   environment.  Ø  How  do  we  teach  ethics  and  ins<ll  high   society  integrity  into  the  next  genera<on   of  global  ci<zens?  
    • What  is  InnovaBon?  InnovaBon  is  the  crea<on  of  beaer  or  more  effec<ve  products,  processes,  services,  technologies,  or  ideas  that  are  accepted  by  markets,  governments,  and  society.  Innova<on  differs  from  inven<on  in  that  innova<on  refers  to  the  use  of  a  new  idea  or  method,  whereas  inven<on  refers  more  directly  to  the  crea<on  of  the  idea  or  method  itself.                                                                -­‐  WIKIPEDIA  
    • Create  what  the  market  wants  
    • How  do  you  innovate?  Ø Understand  the  customer  and  the   market.    Listen  to  them.  You  might   try  “gut”  feel  (like  Jobs)  Ø Conceptualize,  Design    and   Prototype  Ø Collect  feedback,  lots  of  it  Ø Iterate,  iterate,  iterate    
    • InnovaBon  Exercise  EXERCISE  is  to  pracBce  innovaBon    1.  Pick  a  partner  –  someone  you  don’t  know  2.  Interview  them  about  what  types  of  food  they   like  (spicy,  noodle  vs  rice,  ethnic),  etc,  etc.  3.  Invite  them  over  to  dinner  and  design  a  MENU   that  you  think  would  appeal  to  them  à  write   out  the  menu  on  paper  on  tables,  drawings  get   bonus  points    
    • Anyone  Can  Be  InnovaBve  
    • Silicon  Valley  Access  to  Funding  Ø  Ins<tu<onal  venture  capitalists  have  been  the  most  well-­‐ known  source  of  funding  for  innova<ve  start-­‐ups.       –  Aeer  several  down  cycles,  VC’s  now  require  more  than  a  concept   for  funding   –  Look  at  Trac<on  (customers),  Team,  Top  investors  (3  T’s)  Ø  Entrepreneurs  need  to  look  to  other  sources  of  funding:   –  Friends  and  family  funding  –  many  companies  including  Apple   started  with  friends  and  family  support   –  Angel  investors:  Individual  or  groups  (like  the  Angel’s  Forum  or   the  Keiretsu  Forum)   –  Government  programs:    Grants  from  Na<onal  Ins<tute  of  Health   (NIH),  Department  of  Energy,  and  others  
    • What  Investors  are  Looking  For  Ø What  is  the  BIG  Need  or  Opportunity?  Ø What  is  your  solu<on  and  why  is  it  special   (technology  is  secondary  message)?  Ø Who  is  the  team  that  is  going  to  make  your   company  a  success?  Ø Who  are  the  compe<tors?  Ø What  is  the  financial  models?  How  much  do   you  need?  
    • The  Three  “T”’s  Inves<ng  according  to  Tim  Chang,  Managing  Director  of  Mayfield  Partners  Ø TEAM  –  a  leadership  that  has  a  record  of   successful  companies  Ø TRACTION  –  customers  that  have  paid    Ø TIER  1  INVESTORS  –  have  other  investors   which  are  have  good  reputa<on  in  inves<ng   in  winning  companies  
    • Accessing  Silicon  Valley  Ø Very  rare  that  Silicon  Valley  investors  invest  in   companies  outside  of  US  unless  they  have   investment  office  there  (ie  China)  Ø They  want  to  invest  in  things  they  are  familiar   with  and  people  they  know  and  trust  –   remember  the  3  T’s  Ø Need  to  understand  SV  ecosystem  an  develop   network  –  start  with  Cultural  Tourism  (a  la   Carlo  Donzella’s  talk)  
    •     THANK  YOU!       Gigi  Wang  MIT/Stanford  Venture  Lab   gigi.wang@vlab.org     +1  925  998  8785