Entrepreneurship Teaching from the Edinburgh-Stanford Link BarCamp Scotland 2007 Michael Clouser Associate, Edinburgh-Stanford Link; Ph.D. Candidate, Entrepreneurship and Innovation, University of Edinburgh 03/03/2007 Contact: [email_address]

About Me Associate w/ Edinburgh Stanford Link Courses delivered online and off Linking companies with MSc students Ph.D. Student at UoE – Entrepreneurship and Innovation (expected 2008) -Earned MBA and BS from Cornell University in Ithaca, New York (1999 and 1990 respectively) Former Venture Capitalist for Dot Edu Ventures Entrepreneur: Software, Internet, and Competitive Intelligence / Market Research firms First real job: Pastry Chef; next Hotelier

Associate w/ Edinburgh Stanford Link

Courses delivered online and off

Linking companies with MSc students

Ph.D. Student at UoE – Entrepreneurship and Innovation (expected 2008)

-Earned MBA and BS from Cornell University in Ithaca, New York (1999 and 1990 respectively)

Former Venture Capitalist for Dot Edu Ventures

Entrepreneur: Software, Internet, and Competitive Intelligence / Market Research firms

First real job: Pastry Chef; next Hotelier

Stimulating Entrepreneurship – What we do Teach 3 MSc courses Run Masterclasses (outreach startup seminars) Run networking events – cross organizational and campus-wide Partner w/ the Edinburgh Entrepreneurship Club Partner w/SIE, EPIS, and other organizations Visitors from Silicon Valley EIR programme Everyday conversations, putting people together Future: Online course (asynchronous) Keep our eyes on trends and happenings esp. in Silicon Valley

Teach 3 MSc courses

Run Masterclasses (outreach startup seminars)

Run networking events – cross organizational and campus-wide

Partner w/ the Edinburgh Entrepreneurship Club

Partner w/SIE, EPIS, and other organizations

Visitors from Silicon Valley

EIR programme

Everyday conversations, putting people together

Future: Online course (asynchronous)

Keep our eyes on trends and happenings esp. in Silicon Valley

What makes us different (course) Focus on high technology entrepreneurship (and, our focus on creative entrepreneurship in term 2) “ Live” case method Visiting speakers from Silicon Valley (entrepreneurs and venture capitalists) Case studies from Stanford GSB, some HBS, but all surrounding technology entrepreneurship Presentations to panel of venture capitalist and business angel investor Field trip (usually to local incubator) Campus-wide networking event Opportunity Assessment in Term 1, Business Plan in Term 2 Real, personal business case worked on and discussed

Focus on high technology entrepreneurship (and, our focus on creative entrepreneurship in term 2)

“ Live” case method

Visiting speakers from Silicon Valley (entrepreneurs and venture capitalists)

Case studies from Stanford GSB, some HBS, but all surrounding technology entrepreneurship

Presentations to panel of venture capitalist and business angel investor

Field trip (usually to local incubator)

Campus-wide networking event

Opportunity Assessment in Term 1, Business Plan in Term 2

Real, personal business case worked on and discussed

New Edinburgh-Stanford Link Initiative -Entrepreneur-in-Residence Programme -Ph.D. and MSc EIRs -Pay salary plus give space and computer -Research, refine pitch, and build prototype is goal -Current programme 3 months; I would recommend 12 months for 3 months is not enough time

-Entrepreneur-in-Residence Programme

-Ph.D. and MSc EIRs

-Pay salary plus give space and computer

-Research, refine pitch, and build prototype is goal

-Current programme 3 months; I would recommend 12 months for 3 months is not enough time

Upcoming Development Online Entrepreneurship Courses Launching October 2007 5 modules first planned then more Open to researchers, others To be distributed to wider Scotland CPD community Certificate in Technology Entrepreneurship School of Informatics, University of Edinburgh

Online Entrepreneurship Courses

Launching October 2007

5 modules first planned then more

Open to researchers, others

To be distributed to wider Scotland CPD community

Certificate in Technology Entrepreneurship

School of Informatics, University of Edinburgh

Current -Informatics Entrepreneurship I (Opportunity Discovery and Assessment) Term 1 -Informatics Entrepreneurship II (Business Planning and Resource Acquisition) Term 2 -The Digital Marketplace (focus on internet / creative media startups) Term 2 All for MSc students. Ph.D.’s / others invited to audit See the site www.tech-entrepreneur.org

-Informatics Entrepreneurship I (Opportunity Discovery and Assessment) Term 1

-Informatics Entrepreneurship II (Business Planning and Resource Acquisition) Term 2

-The Digital Marketplace (focus on internet / creative media startups) Term 2

All for MSc students. Ph.D.’s / others invited to audit

See the site www.tech-entrepreneur.org

Current Session Topics Entrepreneurship and You Entrepreneurship in Scotland Creativity and Discovery Opportunity Identification Market Research Feasibility (Assessment) Case Study – Integrated (few) Intellectual Property Business Modeling High Technology Marketplaces Market Research 2 Design and Product Development Marketing Strategy and Branding Selling Human Resource Strategy Forming Strategic Alliances and Partnerships International Expansion University and Governmental Resources and Programs Presentation and Pitching Accounting and Finance Financing the Ventures Bootstrapping Friends and Family Capital Business Angel Capital Venture Capital Grants Loans Building a Network

Entrepreneurship and You

Entrepreneurship in Scotland

Creativity and Discovery

Opportunity Identification

Market Research

Feasibility (Assessment)

Case Study – Integrated (few)

Intellectual Property

Business Modeling

High Technology Marketplaces

Market Research 2

Design and Product Development

Marketing Strategy and Branding

Selling

Human Resource Strategy

Forming Strategic Alliances and Partnerships

International Expansion

University and Governmental Resources and Programs

Presentation and Pitching

Accounting and Finance

Financing the Ventures

Bootstrapping

Friends and Family Capital

Business Angel Capital

Venture Capital

Grants

Loans

Building a Network

Suggested Course Programme – 5 segments (over 2 years?) I. Opportunity Discovery -Market Research -Competitive Research II. Opportunity Assessment -Feasibility -Business Modeling III and IV Business Planning, Strategy, and Resource Acquisition V. Ongoing specialized seminars

I. Opportunity Discovery

-Market Research

-Competitive Research

II. Opportunity Assessment

-Feasibility

-Business Modeling

III and IV Business Planning, Strategy, and Resource Acquisition

V. Ongoing specialized seminars

Another way to Organize Programme: I. Business Planning Course – long module II. Entrepreneurial Marketing – short module Entrepreneurial Strategy – short module IV. Entrepreneurial Finance – short module Selling – short module -- Again a 2 year programme is suggested. Assumed that FT researchers will be busy with other projects other than just taking entrepreneurship courses

I. Business Planning Course – long module

II. Entrepreneurial Marketing – short module

Entrepreneurial Strategy – short module

IV. Entrepreneurial Finance – short module

Selling – short module

-- Again a 2 year programme is suggested. Assumed that FT researchers will be busy with other projects other than just taking entrepreneurship courses

Methods: -Real, personal business case work and discussion Text readings -Book readings (esp. non-academic by entrepreneurs or venture capitalists, or about entrepreneurs and venture capitalists) -Notes (eg “Note on Market Research”) -Case studies (HBS, Stanford GSB, Kellogg, etc) -“Live” case studies -Guest speakers who have “been there, done that”

-Real, personal business case work and discussion

Text readings

-Book readings (esp. non-academic by entrepreneurs or venture capitalists, or about entrepreneurs and venture capitalists)

-Notes (eg “Note on Market Research”)

-Case studies (HBS, Stanford GSB, Kellogg, etc)

-“Live” case studies

-Guest speakers who have “been there, done that”

Other Suggestions EIR programme Small fund (grants, loan, equity) Partner w/ us on elearning to deliver to your base Networking events (of course) Venture pitches Business plan contest Others, many of them….

EIR programme

Small fund (grants, loan, equity)

Partner w/ us on elearning to deliver to your base

Networking events (of course)

Venture pitches

Business plan contest

Others, many of them….

Resources Building a Campus-Wide Entrepreneurship Programme (Stanford) http://stvp.stanford.edu/presentations/Building_an_E-ship_Program.pdf *Stanford REE on Teaching Entrepreneurship http://ree.stanford.edu/ *Talk to James Barlowe from SIE, just joined us in Scotland from Bristol. Did some good things there… Journal: Entrepreneurship Theory and Practice http://www.blackwellpublishing.com/journal.asp?ref=1042-2587&site=1

Building a Campus-Wide Entrepreneurship Programme (Stanford)

http://stvp.stanford.edu/presentations/Building_an_E-ship_Program.pdf

*Stanford REE on Teaching Entrepreneurship

http://ree.stanford.edu/

*Talk to James Barlowe from SIE, just joined us in Scotland from Bristol. Did some good things there…

Journal: Entrepreneurship Theory and Practice

http://www.blackwellpublishing.com/journal.asp?ref=1042-2587&site=1

Books Recommended Nesheim, John. “High Tech Startup” Byers, Tom “Technology Ventures” Mullins, John “New Business Road Test” Komisar, Randy “The Monk and the Riddle” Hess, Ken “Bootstrap” Gupta, Udayan “Done Deals: Venture Capitalists Tell Their Stories” Ferguson, Charles “High Stakes, No Prisoners” Nesheim, John “The Power of Unfair Advantage” Sutton, Robert “Weird Ideas that Work”

Nesheim, John. “High Tech Startup”

Byers, Tom “Technology Ventures”

Mullins, John “New Business Road Test”

Komisar, Randy “The Monk and the Riddle”

Hess, Ken “Bootstrap”

Gupta, Udayan “Done Deals: Venture Capitalists Tell Their Stories”

Ferguson, Charles “High Stakes, No Prisoners”

Nesheim, John “The Power of Unfair Advantage”

Sutton, Robert “Weird Ideas that Work”