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Lecture 1: Ideation
The document outlines the structure and objectives of Duke ECE 490L, a course focused on starting new ventures in electrical and computer engineering. It covers key aspects like ideation, market research, customer discovery, and financial models, emphasizing the importance of validating ideas through experimentation rather than immediate execution. Additionally, the course encourages collaborative brainstorming and the exploration of both invention and re-invention in creating viable products.
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Introduces the course 'Duke ECE 490L', its objectives, syllabus, and participation requirements.
Focuses on the goals of commercializing ideas, market research, teamwork dynamics, and resources.
Covers the importance of ideation, avoiding premature building, and quotes Eric Ries on value in startups.
Describes the experimental process in startups: hypothesis, measurement, and the balancing act of learning.
Discusses challenges in idea generation, including uncertainty and having too many or no ideas.
Explores where ideas come from including past experiences, passions, and interactions.
Explains the concept of 'thought crime' in idea sharing without fear and the importance of execution.
Distinguishes between inventing new technologies and re-inventing existing products for improvements.
Outlines techniques like mind mapping for idea organization, along with a review of ideation principles.
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Lecture 1: Ideation
- 1. Duke ECE 490L:How to Start New Ventures in Electrical and Computer Engineering Poornima Vijayashanker poornima@femgineer.com Jeff Glass jeff.glass@duke.edu Akshay Raut ar118@duke.edu 1
- 2. Introduction • Story ofhow this course came to be! • Pratt ’04 - ECE/CS • R&D Engineer @ Synopsys • Founding Engineer @ Mint.com • Founder & CEO @ BizeeBee • Founder of Femgineer.com 2
- 3. Agenda • Syllabus forthis course • Goals • Unlisted goals • Today’s lecture: Ideation Duke ECE 490L 3
- 4. Syllabus • Lecture -Class Participation • Readings - Quizzes • Labs • Final project • Office hours: TTh 3-4pm CIEMAS 3431 & 3591 • e-mail listserv: duke-ece-490l@googlegroups.com • Texts: Lean Analytics Duke ECE 490L 4
- 5. Goals • Goals • Commercializeyour idea • Understand market research • Customer discovery and development • Dynamics of teamwork • Explore financial models and fundraising • Unlisted Goals • Participate in the Duke Startup Challenge Duke ECE 490L 5
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- 7. Advantage of beingan engineer. Duke ECE 490L 7
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- 9. Resist the urgeto build. Duke ECE 490L 9
- 10. Romantic period. Duke ECE490L 10
- 11. “Value in astartup is validating learning not creation of stuff.” - Eric Ries, Lean Startup Duke ECE 490L 11
- 12. 1. Come upwith a hypothesis. 2. Figure out what you want to measure 3. Run an experiment. 4. Measure results from experiment. 5. Learn. 6. Move on to next hypothesis. Duke ECE 490L 12
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- 14. Limited resources. Duke ECE490L 14
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- 16. Can apply toANY business. Duke ECE 490L 16
- 17. Let’s get started! DukeECE 490L 17
- 18. Purpose of thisclass is to help Goldilocks... Duke ECE 490L 18
- 19. No idea! Too manyideas! Is this the right idea?! Duke ECE 490L 19
- 20. Where do ideascome from? Duke ECE 490L 20
- 21. Creative Minds. Duke ECE490L 21
- 22. The idea fairy. PastexperiencesPassions Pains Reading Conversations Interests Hobbies Digesting Duke ECE 490L 22
- 23. Don’t jump intobuilding... Duke ECE 490L 23
- 24. Ideation Philosophy • Don’tfear thought crime! • Put a team together • Make a list of people to reach out to: mentors, potential teammates, experts, influencers. • Don’t fall in love with an idea! • Fall in love with the process of generating and executing on ideas. • Realize that ideas evolve. Duke ECE 490L 24
- 25. More on ThoughtCrime • Get another company to steal your idea. • Tell them your idea! • Execution is key. • Eventually someone will steal your idea if it is good. • Market leader. Duke ECE 490L 25
- 26. Two Paths Invention understand advances& limitations in technology & create a commercially viable product e.g. transistors v. vacuum tube key to modern day electronics, incandescent light bulb vs. candle and heating oil Re-Invention improve upon an existing product e.g. Mint - Quicken e.g. Tesla - Hybrid come up with a new take on an old concept e.g. Twitter - telegram, sms Duke ECE 490L 26
- 27. Invention • List newforms of technology that interest you • Understand the limitations • Potential application • Existing technology • Why is this so popular? • What are its limitations? • New forms of technology • How does it outperform existing technology? Saves money/time, takes up less space, more reliable, longer life, higher quality. • What is limiting it from becoming popular? Regulations, additional R&D, additional infrastructure, change in behavior? Duke ECE 490L 27
- 28. Re-Invention • List 5things you have thought of improving. • Who faces these pains? • Have they tried to solve the pain themselves or are there solutions that solve these pains? • For each existing solution list why it rocks and why it sucks. • What are some related pains? Duke ECE 490L 28
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- 31. Mind Mapping • Visualoutline of information • Ground rules • 1-2 hours per session with breaks. • Don’t discount of judge any ideas! • Take your time & don’t rush. • Capture all ideas and connections. • MindMeister Supplemental Reading: Mind Mapping Guidelines 31
- 32. Example of aMind Map Blog Education Consulting Online Offline Entrepreneurship Engineering Business Engineering Brainstorming various directions to take the business mind map Co-WorkingTwitter Build prototypesMarketing Analytics Spotlighting women Startups Duke ECE 490L 32
- 33. Review • Ideation • Invention& Re-Invention • Thought Crime • Techniques - Mind Mapping Duke ECE 490L 33