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Entrepreneurship talk 2013 1

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  • 1. Technological Entrepreneurship –a Key to World Peace andProsperityDan ShechtmanTechnion, Haifa, Israel
  • 2. What isTechnological EntrepreneurshipThere are many detailed and complexdefinitionsI have chosen the most simple one –Establishment of a newtechnology venture
  • 3. Why is TechnologicalEntrepreneurshipimportant for the well beingof societies, countries andthe world?
  • 4. Building sustainable economy requiresdevelopment of human ingenuityHow can we do that?
  • 5. Good basic education to allFree market economyGood engineering and science educationGovernment policy and supportNo corruption
  • 6. But that may not be enoughDevelopment of entrepreneurialspirit and knowledgeAlso needed is
  • 7.  While it is true that home environmentcan affect ideas, mentality and self-efficacy,it is also true that proper teaching candirect attention to a worthy subject andgood mentor can inspire enthusiasticfollowers.Born to be technological entrepreneurs? Some say that to become a successfulentrepreneur one has to be “born with it” Not so.
  • 8. Can we teach technologicalentrepreneurship?Yes, we can and we should!
  • 9. Who teaches entrepreneurship today?Universities around the worldHow?Startups management in MBA programs.Problem is - MBA startup managers do notusually open new high-tech startups.So who opens startups?
  • 10. It is the engineers, biologists, MDs,scientists and computer experts thatstart new High-Tec companies.
  • 11.  Future entrepreneurs are students ofengineering, biology, physics, chemistry,computer science MDs and relatedsubjects.Who should teachtechnological entrepreneurship And so, in addition to teaching startupmanagement it is a good idea to motivateand teach future entrepreneurs how toopen successful startups
  • 12.  Universities should expose and motivatethese students to consider opening hi-techbusiness of their own.
  • 13. Whom and where should we teach Technicians – in vocational school Youth – in high schools
  • 14. Technological Entrepreneurship –the Technion classOver the past 27 years I have conducteda Technological Entrepreneurship classat the Technion.How does the class work?
  • 15.  Open to all Technion students 300-600 students in the class All lectures by invited speakers successful entrepreneurs new startup entrepreneurs professionals
  • 16.  During the lecture each studentsummarizes the lecture on a form The reports are collected at theend of the lecture. Attendance – mandatory Final exam – none
  • 17. An invited speaker-entrepreneurshould provide tips, tell stories andgive advice from his/her experience.These entrepreneurs are role models tofollow. If the audience can identify withthe speaker, can believe that they canfollow his or her footsteps and becomesuccess story, we have achieved ourgoal.
  • 18. What can an experienced invitedentrepreneur talk about? How he started Difficulties he faced and ways heovercame them What were the financial resources How he found proper partners How he found customers What is the company culture
  • 19. The motivation should be the startup itself.Not money.Money is a byproduct of a successfulbusinessMotivation
  • 20.  Nonprofessional management by thetechnological entrepreneur Insufficient market survey and lack ofmarket knowledge Wrong money sources Partnering with friends rather thanprofessionals Ego driven entrepreneurship –“I know best” Bad contract among foundersMistakes that lead to failure of startups
  • 21. Cultural considerationsFear of failure.
  • 22. Government role Incubators Partnership with VC funds Form a chief scientist office in everyministry Support industrial innovative R&Din startups Sign binational agreements andsupport binational funds Form and support instruction andadvice centers for immerging startups.
  • 23. VC funds - a good or badsource of funding? How does a venture capital fund work? What are the problems with VC funds
  • 24. So, where should we go toseek funding for our startup Strategic partners Angels Bootstrapping VC funds
  • 25. What money should not be used If you do not have dip pocketsdo not use your own money Do not take money fromrelatives or friends
  • 26. START-UP NATIONaddresses the trillion dollarquestion: How is it that Israel-- a country of 7.9 million, only64 years old, surrounded byenemies, in a constant stateof war since its founding, withno natural resources--produces more start-upcompanies than large,peaceful, and stable nationslike Japan, China, India,Korea, Canada and the UK?
  • 27. Thank you