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E245 syllabus rev15 E245 syllabus rev15 Document Transcript

  • I-Corps 245: The Lean LaunchPadCourse Title: The Lean LaunchPadInstructors: Steve Blank, Tom Byers, Jon FeiberJohn Burke, TinaSeeligCo-Instructors: John Burke, Alexander Osterwalder, Kevin DeWalt, TonyMakTA’s: Thomas Haymore, Stephanie Rose GlassCurriculum Guides: TBD (Select previous participants) see page 21 - 29 for teaching team biosDays and Times: Oct 10-12th at Stanford University (Classes 1, 2 and 3) Oct 18 –Nov 15thFive video lectures at your school (Classes 4 – 9) broadcast Tuesdays 9am –noon PST Dec 13 -14th at Stanford University – “Lessons Learned” pitchesWorkshops: Getting out of the building, Customer Discovery, PresentationsOffice Hours: by appointmentTakeaway: “Commercialization Potential” scorecardWebpage: http://i245.stanford.eduTexts: Business Model Generation - Alexander Osterwalder Four Steps to the Epiphany - Steve BlankThis curriculumrequires indepth preparation and significanteffort outside of the lab.Read http://steveblank.com/category/lean-launchpad/ from the bottom up to get an idea.See http://www.slideshare.net/sblank/tag/stanford for final team presentations.Prerequisites:1) Attend asa team consisting of Entrepreneurial Lead, Commercialization MentorandPrincipal Investigator. 2) Each team membermust commit to class time plus 15 additionalhours a week for Customer Discovery.Goals: 1)Give the I-Corps team an experiential learning opportunity to help determine thecommercial readiness of their technology. 2) Enable the team to developa clear go/no godecision regarding commercial viability of the effort, 3) Should the decision be to move thetechnology forward to market, develop a transition plan to do so.CurriculumDescription: This curriculumprovides real world, hands-on learning on what it’slike to successfully transfer knowledge into products and processes that benefit society .It’snotabout how to write a research paper, business plan or NSF grant. It’s not an exercise on howsmart you are in a lab or a classroom, or how well you use the research library. The end result isI-Corps E245 Syllabus Revision 17 page 1 of 33
  • not a paper to be published or PowerPoint slide deck.Instead the entire team will be engaged withindustry; talking to customers, partners and competitors, as the teamencounters the chaos anduncertainty of transferring knowledge into products and processes that benefit society.Amount of WorkGetting out of the lab/building is what the effortis about. It’s not about the lectures. You will bespending a significant amount of time in between each of the lectures outside your lab talking tocustomers. If you can’t commit the time to talk to customers, the I-Corps effort is not for you.Class CultureStartups communicate much differently than inside a university and lab. It is dramaticallydifferent from the university culture most of you are familiar with. Given your stature inside yourinstitution, at times it can feel brusque and impersonal, but in reality is focused and oriented tocreate immediate action in time- and cash-constrained environments.We have limited time andwe push, challenge, and question you in the hope you will quickly learn. We will be direct, open,and tough – just like the real world. We hope you can recognize that these comments aren’tpersonal, but part of the process.We also expect you to question us, challenge our point of view if you disagree, and engage in areal dialog with the teaching team. This approach may seem harsh or abrupt, but it is all part ofour wanting you to learn to challenge yourselves quickly and objectively, and to appreciate thatas entrepreneurs you need to learn and evolve faster than you ever imagined possible.TeamsYou’ll work in teams learning how to turn your research and technologyidea into a product,service or process that benefits society. You’ll learn how to use a business model to brainstorm eachpart of an enterprise and customer development to get out of the lab/buildingto see whetheranyone other than you would want/use your product. Finally, you’ll see how agile developmentcan help you rapidly iterate your product to build something potential customers will use andbuy. Each week will be new adventure as you test each part of your business model and thenshare the hard earned knowledge with the rest of the class. Working with your team you willencounter issues on how to build and work with a team and we will help you understand how tobuild and manage the startup team.See http://steveblank.com/category/lean-launchpad/ for a narrative of the class.Class Organization:I-Corps Workshop:The class starts with entire I-Corps team (Entrepreneurial Lead, I-Corps Mentor & PI) atI-Corps E245 Syllabus Revision 17 page 2 of 33
  • Stanford, Oct 10-12 for the first lectures.Post Workshop, Out of the Building EffortWhen I-Corps teams return to their institutions, they will be required to get out of the lab to testtheir business model assumptions. This is a team effort. It is the heart of the class.Post Workshop, Online Curriculum:The instructors will run five weeklyon-line lectures, Oct 18 – Nov 15th that will guide the teamssearch and testing their business model canvas hypotheses.Weekly Presentations and Progress TrackingEach team will present a 10-minute weekly progress report.This is how we monitor yourprogress and give you guidance.Weekly Blog TrackingTeams will record their progress basis using a Wiki.This is also how we monitor your progress.I-Corps “Lessons Learned” PresentationsThe entire I-Corps team (Entrepreneurial Lead, I-CorpsMentor and Principal Investigator) will return to Stanford, Dec 12 – 13th. There the teams willpresent to the teaching team and Venture Capitalists the Lessons Learned in their exploration ofcommercial feasibility.Team Organization:This class is team-based. Working and studying will be done in teams. Theteams will self-organize and establish individual roles on their own. There are no formalCEO/VP’s. All three members of the team;Entrepreneurial Lead, Commercialization Mentor andPrincipal Investigatormust participate in all out of the building customer discovery activities.Deliverables:1)if you’re a physical product you must show us a costed bill of materials and a prototype orproof demonstration. If you’re a web product you need to build it and have customers using it.2) Your weekly blog is an integral part of your deliverables. It’s how the team’s progressismeasured(along with the “Lessons Learned” presentations.)Takeaways:A“commercialization potential” scorecardAt the end of the course, each team will be provided feedback in the form of a scorecard on thepotential for commercializing their research and innovation. This scorecard will provide feedbackto the team about: gaps in the business model, team, product that remain, and provide specificsuggestions for how to improve and fix them.I-Corps E245 Syllabus Revision 17 page 3 of 33
  • Class RoadmapEach week’s class is organized around: A lecture on one of the 9 building blocks of a business model (see diagram below, taken from Business Model Generation). Team presentations on their “lessons learned” from getting out of the building and iterating or pivoting their business model. Each team will capture their progression in Customer Discovery by keeping an on-line journals/blogs/wiki. Test Hypotheses: Test Agile • Demand Hypotheses: Development Test Hypotheses: Creation •Problem • Product Test • Customer Hypotheses: • Market Type • User •Channel • Competitive • Payer • (Customer) • (Problem) Customer Development Test Hypotheses: Team • Channel Test Hypotheses: Test Hypotheses: • Size of Opportunity/Market • Pricing Model / Pricing • Validate Business Model“Genius is the ability to make the most mistakes in the shortest amount of time.” Aspiringentrepreneurs need to become fast iterators.I-Corps E245 Syllabus Revision 17 page 4 of 33
  • Pre-reading For 1st Class: Read pages 1-51of Business Model Generation.Sunday Oct 9th7pm – 9pmMixer K&S RanchMonday Oct 10th8 - 9amBreakfastLocation: Mackenzie Room, Huang Engineering CenterMonday Oct 10th9 -9:30amClass Introduction: Teaching TeamLocation: Mackenzie Room, Huang Engineering Center Team Introduction Class Goals Teaching Philosophy Expectations of YouMonday Oct 10th 9:30 – 10:30 amPanel: Scientist and Engineers as Founders and EntrepreneursPanelists: Kevin Dewalt Founder ClaimAway, Jason Lohnco-Founder, CEO of X5 Systems, Dave Merrill Founder, CTO of Sifteo, Kumar GoswamiLocation: Mackenzie Room, Huang Engineering Center Why did we do a startup? What did we think it was going to be like? What was it really like? What do we wish we knew? What you should get out of this class?Monday Oct 10th10:30am-1:00pmClass 1: Business Model/Customer DevelopmentSteve Blank/Jon Feiber/Alexander Osterwalder/John Burke/Teaching TeamLocation: Mackenzie Room, Huang Engineering CenterClass Lecture:The Business ModelWhat’s a business model? What are the 9 parts of a business model? What are hypotheses? Whatis the Minimum Feature Set? What experiments are needed to run to test business modelhypotheses? What’s “getting out of the building?” What is market size? How to determinewhether a business model is worth doing?Read: Business Model Generation, pp. 118-119, 135-145, skim examples pp. 56-117 Four Steps to the EpiphanyChapters 1-2I-Corps E245 Syllabus Revision 17 page 5 of 33
  • Steve Blank, “What’s a Startup? First Principles,” http://steveblank.com/2010/01/25/whats-a-startup-first-principles/ Steve Blank, “Make No Little Plans – Defining the Scalable Startup,” http://steveblank.com/2010/01/04/make-no-little-plans-–-defining-the-scalable- startup/ Steve Blank, “A Startup is Not a Smaller Version of a Large Company”, http://steveblank.com/2010/01/14/a-startup-is-not-a-smaller-version-of-a-large- company/Team Deliverable for tomorrowOct 11th All teams to present their first business model canvas hypotheses for each of the 9 parts of the business model. Come up with ways to testeach of the hypotheses: o is the business worth pursuing (market size) Come up with what constitutes a pass/fail signal for the test (e.g. at what point would you say that your hypotheses wasn’t even close to correct)? Find a name for your team. Start your blog/wiki/journalMonday Oct 10th1-2pmLunchLocation: Tressider CafeteriaMonday Oct 10th2 - 3pm – 4pmWorkshop: LaunchLab Tutorial Ben MappenLocation: Mackenzie Room, Huang Engineering Center How to use the Lean LaunchLab to blog your progress.Monday Oct 10th4 – 5pmWorkshop: Mentor Tutorial Teaching TeamLocation: Mackenzie Room, Huang Engineering Center The role of Mentors in the Lean Launchpad ProcessMonday Oct 10th5:30 -6:30pmWorkshop: Unleashing CreativityTina Seelig - ProfessorLocation: Mackenzie Room, Huang Engineering Center brainstorming the business model.Monday Oct 10th6:30 pmDinnerLocation: Mackenzie Room, Huang Engineering CenterI-Corps E245 Syllabus Revision 17 page 6 of 33
  • Tuesday Oct 11thTuesday Oct 11th8 - 9amBreakfastLocation: Mackenzie Room, Huang Engineering CenterTuesday Oct11th9am- 1pmClass 2: Value PropositionSteve Blank/Jon Feiber/Teaching TeamLocation: Mackenzie Room, Huang Engineering CenterTeam Presentation for Today: 10 minutes each (all teams) What are your 9 Business Model Canvas hypotheses? How will you test them?Class Lecture:Value PropositionWhat is your product or service? How does it differ from an idea? Why will people want it? Who’sthe competition and how does your customer view these competitive offerings? Where’s themarket? What’s the minimum feature set? What’s the Market Type? What was your inspirationor impetus? What assumptions drove you to this? What unique insight do you have into themarket dynamics or into a technological shift that makes this a fresh opportunity?Deliverable for Oct 12thand Oct 18thValue Proposition: Market Size estimates (TAM, SAM, addressable.) How big is the opportunity? What were your value proposition hypotheses? What did potential customers think about your value proposition hypotheses? o Get out of the building and begin to talk to customers for Oct 12th o Talk to 10-15 customers more by Oct 18th o Follow-up with Survey Monkey (or similar service) to get more data Submit interview notes, present results in class. Update your blog/wiki/journal with progress customers and value propRead: Business Model Generation, pp. 161-168 and 226-231 Four Steps to the Epiphany, pp. 30-42, 65-72 and 219-223Tuesday Oct 11th1-2pmLunchLocation: Tressider CafeteriaI-Corps E245 Syllabus Revision 17 page 7 of 33
  • I-Corps E245 Syllabus Revision 17 page 8 of 33
  • Tuesday Oct 11th6 - 7pmDinnerLocation: Mackenzie Room, Huang Engineering CenterTuesday Oct 11th7 - 8pmWorkshop: How to Get out of the Building while Protecting My IPLocation: Mackenzie Room, Huang Engineering Center Team coaching on how to “get out of the building” for Customer Discovery. Expectations, speed, tempo, logistics, commitments. How do I protect my IP when I speak to partners Does Lean work for non-software efforts How do I interview” How is an interview different than a sales callI-Corps E245 Syllabus Revision 17 page 9 of 33
  • Wednesday Oct 12thWednesday Oct 12th8am – 9amBreakfastLocation: Li Ka ShingBuildingWednesday Oct 12th9am- 1pmClass 3: Customers/Users/PayersSteve Blank/Jon Feiber/Teaching TeamLocation: Li Ka ShingBuildingTeam Presentation for Today: 10 minutes each (all teams) What did you learn about your value proposition from talking to your first customers? Update Business Model Canvas (show original, then show what you changed in new slide with changes in Red.) focus on customer segment and value proposition Here’s What we Thought So Here’s What we Did So Here’s What we Found So Here’s What we Are Going to DoClass Lecture: Customers/Users/PayersWho’s the customer? User? Payer? How are they different?Why do they buy? How can you reachthem? How is a business customer different from a consumer? What’s a multi-sided market?What’s segmentation? What’s an archetype?Read: Business Model Generation, pp. 127-133 Four Steps to the Epiphany,pp. 43-49, 78-87224-225, and 242-248 Giff Constable, “12 Tips for Early Customer Development Interviews,” http://giffconstable.com/2010/07/12-tips-for-early-customer-development-interviews/Deliverable for Oct 18th Get out of the building and talk to 10-15 customers face-to-faceI-Corps E245 Syllabus Revision 17 page 10 of 33
  • What were your hypotheses about who your users and customers were? Did you learn anything different? Did anything change about Value Proposition? What do customers say their problems are? How do they solve this problem(s) today? Does your value proposition solve it? How? What was it about your product that made customers interested? excited? If your customer is part of a company, who is the decision maker, how large is their budget, what are they spending it on today, and how are they individually evaluated within that organization, and how will this buying decision be made? Update your blog/wiki/journalWednesday Oct 12th1 – 1:30 pmPanel: Scientist and Engineers as Founders and EntrepreneursPanelists: Ari Tuchman CEO at Quantifind and Mohit LadStory of Ari Tuchman, a physicist turned entrepreneur/CEO at Quantifind.Wednesday Oct 12th2 - 3pmWorkshop: Video SetupPreflight and checkout of your computer for use in remote lectures.Configuration of hardwareand software.How to present your slides and set up video, etc.I-Corps E245 Syllabus Revision 17 page 11 of 33
  • October 18thTuesday Oct 18th9am - 1pm PSTClass 4: Distribution ChannelsSteve Blank/Jon Feiber/Teaching TeamLocation: Video lectureat your UniversityTeam Presentation for Today: 10 minutes each (all teams) Update Business Model Canvas (show original, then show what you changed in new slide with changes in Red.) Here’s What we Thought So Here’s What we Did So Here’s What we Found So Here’s What we Are Going to DoClass Lecture:Distribution ChannelsWhat’s a channel? Physical versus virtual channels.Direct channels, indirect channels, OEM.Multi-sided markets. B-to-B versus B-to-C channels and sales (business to business versusbusiness to consumer)Read:Four Steps to the Epiphany, pp. 50-51, 91-94, 226-227, 256, 267Deliverable for Oct 25th Get out of the building and talk to 10-15 potential channel partners face-to-face (Salesmen, OEM’s distributors, etc.) What were your hypotheses about who/what your channel would be? Did you learn anything different? Did anything change about Value Proposition? Update your blog/wiki/journalI-Corps E245 Syllabus Revision 17 page 12 of 33
  • October 25thTuesday Oct 25th9am - 1pm PSTClass 5: Customer RelationshipsSteve Blank/Jon Feiber/Teaching TeamLocation: Video lecture at your UniversityTeam Presentation for Today: Update Business Model Canvas (show original, then show what you changed in new slide with changes in Red.) Here’s What we Thought So Here’s What we Did So Here’s What we Found So Here’s What we Are Going to DoClass Lecture:Customer Relationships/Demand CreationHow do you create end user demand? How does it differ on the web versus other channels?Evangelism vs. existing need or category?General Marketing, Sales Funnel, etc. How does demandcreation differ in a multi-sided market?Read: Four Steps to the Epiphany, pp. 52-53, 120-125 and 228-229 Dave McClure, “Startup Metrics for Pirates”, http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-seedcamp-2008- presentation Watch: Mark Pincus, “Quick and Frequent Product Testing and Assessment”, http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2313Team Deliverable for Nov 1st For everyone: o Present and explain your marketing campaign. What worked best and why? For web teams: o Get a working web site and analytics up and running. Track where your visitors are coming from (marketing campaign, search engine, etc) and how their behavior differs. What were your hypotheses about your web site results? Actually engage in “search engine marketing” (SEM) spend $20 as a team to test customer acquisition cost o Ask your users to take action, such as signing up for a newsletter o use Google Analytics to measure the success of your campaign o change messaging on site during the block to get costs lower, team that gets lowest delta costs wins. If you’re assuming virality of your product, you will need to show viral propagation of your product and the improvement of your viral coefficient over several experiments.I-Corps E245 Syllabus Revision 17 page 13 of 33
  • o Submit web data or customer interview notes, present results in class. o Did anything change about Value Proposition or Customers/Users? o What is your assumed customer lifetime value? Are there any proxy companies that would suggest that this is a reasonable number? For non-web teams: o Get prototype demo working o build demand creation budget and forecast. o What is your customer acquisition cost? o Did anything change about Value Proposition or Customers/Users? o What is your customer lifetime value? Channel incentives – does your product or proposition extend or replace existing revenue for the channel? o What is the “cost” of your channel, and it’s efficiency vs. your selling price. Everyone: Update your blog/wiki/journal. o What kind of initial feedback did you receive from your users? o What are the entry barriers? Submit interview notes, present results in class.I-Corps E245 Syllabus Revision 17 page 14 of 33
  • November 1stTuesday November 1st9am - 1pm PSTClass 6: Revenue ModelsSteve Blank/Jon Feiber/Teaching TeamLocation: Video lecture at your UniversityTeam Presentationfor Today: Update Business Model Canvas (show original, then show what you changed in new slide with changes in Red.) Here’s What we Thought So Here’s What we Did So Here’s What we Found So Here’s What we Are Going to DoClass Lecture:Revenue ModelWhat’s a revenue model? What types of revenue streams are there? How does it differ on the webversus other channels? How does this differ in a multi-sided market?Deliverable for Nov 8thWhat’s your revenue model? How will you package your product into various offerings if you have more than one? How will you price the offerings? Draw the diagram of payment flows What are the key financials metrics for your business model? Test pricing in front of 100 customers on the web, 10-15 customers non-web. What are the risks involved? What are your competitors doing? Assemble a rough income statement for the your business model. Do the “Lifetime value” calculation for customers. Submit interview notes, present results in class. Did anything change about Value Propositionor Customers/Users, Channel, Demand Creation, Revenue Model? Update your blog/wiki/journalI-Corps E245 Syllabus Revision 17 page 15 of 33
  • November 8thTuesday November 8th9am - 1pm PSTClass 7: PartnersSteve Blank/Jon Feiber/Teaching TeamLocation: Video lecture at your UniversityTeam Presentationfor Today: Update Business Model Canvas (show original, then show what you changed in new slide with changes in Red.) Here’s What we Thought So Here’s What we Did So Here’s What we Found So Here’s What we Are Going to DoClass Lecture:PartnersWho are partners? Strategic alliances, competition, joint ventures, buyer supplier, licensees.Deliverable for Nov 15thAction: What partners will you need? Why do you need them and what are risks? Why will they partner with you? What’s the cost of the partnership? Talk to actual partners. What are the benefits for an exclusive partnership? Assemble an income statement for the your business model. Submit interview notes, present results in class. Did anything change about Value Propositionor Customers/Users, Channel, Demand Creation? What are the incentives and impediments for the partners? Update your blog/wiki/journalI-Corps E245 Syllabus Revision 17 page 16 of 33
  • November 15thTuesday November 8th9am - 1pm PSTClass 8: Key Resources & CostsSteve Blank/Jon Feiber/Teaching TeamLocation: Video lecture at your UniversityTeam Presentationfor Today: Update Business Model Canvas (show original, then show what you changed in new slide with changes in Red.) Here’s What we Thought So Here’s What we Did So Here’s What we Found So Here’s What we Are Going to DoClass Lecture:Resources and Cost StructureWhat resources do you need to build this business? How many people? What kind? Anyhardware or software you need to buy? Any IP you need to license? How much money do youneed to raise? When? Why?Importance of cash flows? When do you get paid vs. when do youpay others?Final Deliverable for December 14thWhat’s your expense model? Assemble a resources assumptions spreadsheet. Include people, hardware, software, prototypes, financing, etc. Access to resources. What is the best place for your business? Where is your cash flow break-even point? What are the key financials metrics for costs in your business model? Costs vs. ramp vs. product iteration? When will you need these resources? Roll up all the costs from partners, resources and activities in a spreadsheet by time. Submit interview notes, present results in class. Did anything change about Value Propositionor Customers/Users, Channel, Demand Creation/Partners? Update your blog/wiki/journal Prepare for December 13th and 14th at Stanford o 20 –minute Team Lessons Learned Presentation See http://www.slideshare.net/sblank/tag/stanford for sample final team presentations.I-Corps E245 Syllabus Revision 17 page 17 of 33
  • Dec 13th 10 - 11amWorkshop at Stanford How to Present Oren JacobTeam coaching on how to develop “a lesson-learned” presentation.See http://www.slideshare.net/sblank/tag/stanford for final team presentations.Time TBD10 Dec 13th 10am at Stanford Rehearsal DayDeliverable: Each team will present a dry run of their 20 minute “Lessons Learned” presentationabout their business.We’ll run 25 teams in two parallel tracks.Dec 13th 7pm Workshop at Stanford How to Present Mackenzie Room, Huang Engineering CenterMentor evaluation of your presentation.I-Corps E245 Syllabus Revision 17 page 18 of 33
  • 11 Dec 14th9am at Stanford Lessons Learned Presentations Mackenzie Room, Huang Engineering CenterDeliverable: Each team will present a 20 minute “Lessons Learned” presentation about theirbusiness in front of the teaching team and potential investors.We’ll run the presentations of the 25 teams in two parallel tracks. (9 -2pm?)I-Corps“Lessons Learned” Presentation FormatSlide 1 – Team Name, with a few lines of your initial idea and the size of the opportunitySlide 2 – Team members – name, background, expertise and your role for the teamSlide 3 – key NSF funded technology and/or innovationSlide 4 - Business Model Canvas Version 1 (use the Osterwalder Canvas).Slide 5 - So here’s what we did (explain how you got out of the building)Slide 6 – So here’s what we found (what was reality) so then, …Slide 7 - Business Model Canvas Version 2 (use the Osterwalder Canvas). We iterated or pivoted… explain why and what you found.Slide 8 - So here’s what we did (explain how you got out of the building)Slide 9 – So here’s what we found (what was reality) so then,Slide 10 - Business Model Canvas Version 3 (use the Osterwalder Canvas). We iterated or pivoted… explain why and what you found.Etc…. Every presentation requiresat least three Business Model Canvas slides.Side n – “So here’s where we ended up.” Talk about: 1. what did you learn 2. whether you think this a viable business, 3. whether you want to purse it after the class, etc.Final Slides – Click through each one of your business model canvas slides. Dec 14th5pm at Stanford Graduation Get Together Mackenzie Room, Huang Engineering CenterI-Corps E245 Syllabus Revision 17 page 19 of 33
  • Teaching TeamTom Byers - Academic Director, Stanford Technology Ventures Programtbyers@stanford.edu@tommybyers650-387-8517Steve Blank – Lecturer, Stanford Technology Ventures Programsblank@stanford.edu@sgblank415-999-9924Jon Feiber – General Partner Mohr DavidowJdf@mdv.com650-302-0011Ann Miura-Koann@floodgate.com@annimaniac650-269-9409Tina Seelig – Executive Director, Stanford Technology Ventures Programtseelig@stanford.edu@tseelig650-464-7736John Burke - General Partner True Venturesjburke@trueventures.com@andemca650-319-2150Kevin Dewalt - Entrepreneur in Residence Innovation Acceleratorkevindewalt@kevindewalt.com@kevindewalt703-608-7829Tony Mak – Entrepreneur in Residencetony54321@hotmail.com@TonyMakI-Corps E245 Syllabus Revision 17 page 20 of 33
  • Teaching AssistantsThomas Haymore – Phd Candidate, Stanford MS&E, J.D. Stanford Law School 2013thaymore@stanford.edu@tchaymore512-970-0567Stephanie Rose Glasssrglass@stanford.eduEve Byer-Young- Associate Director, Stanford Center for Professional Developmentevebyeryoung@stanford.eduI-Corps E245 Syllabus Revision 17 page 21 of 33
  • Steve BlankAfter 21 years in 8 high technology companies, Steve retired in 1999. He co-foundedmy last company, E.piphany, in his living room in 1996. His otherstartups include two semiconductor companies, Zilog and MIPSComputers, a workstation company Convergent Technologies, aconsulting stint for a graphics hardware/software spinout Pixar, asupercomputer firm, Ardent, a computer peripheral supplier,SuperMac, a military intelligence systems supplier, ESL and a videogame company, Rocket Science Games.After he retired, Steve wrote a book about building early stagecompanies called Four Steps to the Epiphany.He moved from being an entrepreneur toteaching entrepreneurship to both undergraduate and graduate students at U.C. Berkeley,Stanford University and the Columbia University/Berkeley Joint Executive MBAprogram.In 2009, Steve was awarded the Stanford University Undergraduate Teaching Award inthe department of Management Science and Engineering. In 2010, he was awarded theEarl F. Cheit Outstanding Teaching Award at U.C. Berkeley Haas School of Business.Steve followed his curiosity about why entrepreneurship blossomed in Silicon Valleyand was stillborn elsewhere. It has led to several talks on The Secret History of SiliconValley.In 2007 the Governor of California appointed Steve to serve on the California CoastalCommission, the public body which regulates land use and public access on theCalifornia coast. He’s on the board of Audubon California (and its past chair). In 2009he joined the board of the California League of Conservation Voters (CLCV).Steve was the commencement speaker at Philadelphia University in 2011. Text of thespeech is here.I-Corps E245 Syllabus Revision 17 page 22 of 33
  • Tom ByersTom Byers is a professor at Stanford University where he focuses ontechnology and high-growth entrepreneurship education. He is founderand a faculty co-director of the Stanford Technology Ventures Program(STVP), which serves as the entrepreneurship center for the engineeringschool. STVP includes the Mayfield Fellows work/study program,Entrepreneurship Corner website of videos and podcasts, and a set ofglobal Roundtable on Entrepreneurship Education conferences foreducators. Tom is co-author of a leading entrepreneurship textbook called"Technology Ventures: From Idea to Enterprise" published by McGraw-Hill.At Stanford, he is the chairman of the Committee for Undergraduate Standards and Policies (C-USP) and deputy chair of the Management Science and Engineering department. He is anaffiliated faculty member of the Woods Institute for the Environment and Precourt Institute forEnergy at Stanford. Tom is a faculty director of the annual Stanford Executive Institute. Tom hasalso been a visiting professor at the UAEs Higher Colleges of Technology, London BusinessSchool, and University College London.Tom has served on the governing boards of Flywheel Ventures and other technology enterprises.In addition, he has served on advisory councils of the World Economic Forum regardingentrepreneurship, Harvard Business Schools California Research Center, UC Berkeleys Centerfor Entrepreneurship and Technology, Conservation International, and Network for TeachingEntrepreneurship (NFTE) regarding disadvantaged youth. Before joining Stanford, Tom workedat Silicon Valley companies for over a decade including executive vice president and generalmanager of Symantec Corporation during its early years. Tom started his professional career atAccenture.For his efforts at Stanford, Tom holds endowed chairs in engineering regarding entrepreneurshipeducation and another called the McCoy University Fellow in Undergraduate Education. Tom hasreceived Stanfords Gores Award for excellence in teaching (the universitys highest award) andits Tau Beta Pi Award for excellence in undergraduate teaching (the engineering schools highestaward). In 2009, the National Academy of Engineering (NAE) awarded Tom and Tina Seelig itsGordon Prize, which is the professions highest honor recognizing innovation in engineering andtechnology education. He is a member of the Hall of Fame at UC Berkeleys Haas School ofBusiness.He is also the recipient of several other national teaching awards including the OlympusInnovation Award from the NCIIA, the ASEE Kauffman Award, theUSASBE EntrepreneurshipEducator of the Year Award, the Academy of Managements Innovation in EntrepreneurshipTeaching Award, and the Leavey Award. Earlier, STVP was named the NASDAQ EntrepreneurshipCenter of the Year and Tom was named Northern California Entrepreneur of the Year in Ernst &Youngs competition.Tom holds a BS in Industrial Engineering and Operations Research and an MBA from UCBerkeley. He also earned a PhD in Business Administration (Management Science) at UCBerkeley.I-Corps E245 Syllabus Revision 17 page 23 of 33
  • I-Corps E245 Syllabus Revision 17 page 24 of 33
  • Jon FeiberIt was a chance meeting that brought Jon Feiber into the venture industry.Jon, then a vice president at Sun Microsystems, wasconsidering leaving Sun for a startup. After apreliminary discussion about the startup at MohrDavidow, he got an offer to join the firm.Today, he is among Mohr Davidow’s most seniorpartners and is responsible for many of the firm’ssuccessful investments. Most of Jon’s investmentsharness emerging technology. ―I like the intersectionof emerging technology and big markets – geekyprojects,‖ he admits.He began his career as a software programmer for mainframe maker AmdahlCorp. ―I tend towards entrepreneurs who have real insight into hard problemsand a sense of their need by customers.‖Mohr Davidow, he believes, will remain one of the technology industry’smost successful investors because of its faith and commitment toentrepreneurs. ―This firm has always been known for being direct and openin its relationships with entrepreneurs,‖ he explains. ―Our enthusiasm for theentrepreneur is matched by depth of knowledge and experience in the areasthat we choose to invest in.‖―Being a venture capitalist is one of the greatest jobs you can have,‖ hecontinues. ―I get to hang out with the smartest people in the world and helpthem turn their ideas into world class companies.‖Jon holds a bachelors degree in computer science and mathematics andastro-physics from the University of ColoradoI-Corps E245 Syllabus Revision 17 page 25 of 33
  • Ann Miura-KoAnn Miura-Ko is a co-founding partner at FLOODGATE where her investmentinterests include the innovations in e-commerce,security, and big data.
 
In addition to serving at FLOODGATE, Ann is a lecturerin the School of Engineering at Stanford University,where she got her PhD focused on mathematicalmodeling of computer security.She teaches High Tech Entrepreneurship with SteveBlank and is a frequent lecturer in courses such asTechnology Venture Formation, High-techEntrepreneurship, and the Mayfield Fellows Program.Many of her students have gone on to secure Angel andVC funding for their ideas. 
 
Prior to joining FLOODGATE and her stint at Stanford, Ann worked at Charles RiverVentures and McKinsey and Company. 
 
 Ann grew up in Palo Alto, California and,as a result, was exposed at an early age to the world of startups, technology andventure capital.She developed an early passion for robotics and went on to major in electricalengineering at Yale University where she received her BS degree. For her seniorproject, she was part of a five person team that designed four robots toautonomously play soccer. That team placed fourth at the second annual Robocupcompetition held in Paris, France in 1998.I-Corps E245 Syllabus Revision 17 page 26 of 33
  • Tina SeeligTina Seelig is the Executive Director for the Stanford Technology VenturesProgram (STVP), the entrepreneurship center atStanford Universitys School of Engineering. STVP isdedicated to accelerating high-technologyentrepreneurship education and creating scholarlyresearch on technology-based firms. STVP providesstudents from all majors with the entrepreneurial skillsneeded to use innovations to solve major worldproblems.Tina teaches courses on creativity, innovation, andentrepreneurship in the department of ManagementScience and Engineering, and within theHassoPlattner Institute of Design at Stanford. Tina was recently awarded the2009 Gordon Prize from the National Academy of Engineering, recognizing heras a national leader in engineering education. She also received the 2008National Olympus Innovation Award, and the 2005 Stanford Tau Beta Pi Awardfor Excellence in Undergraduate Teaching. In 2004, STVP was named theNASDAQ Entrepreneurship Center of the Year.Tina earned her Ph.D. from Stanford University Medical School in 1985 whereshe studied Neuroscience. She has worked as a management consultant forBooz, Allen, and Hamilton, as a multimedia producer at Compaq ComputerCorporation, and was the founder of a multimedia company calledBookBrowser.Tina has also written 15 popular science books and educational games. Herbooks include The Epicurean Laboratory and Incredible Edible Science,published by Scientific American; and a series of twelve games called Gamesfor Your Brain, published by Chronicle Books. Her newest book, published byHarperCollins in Spring 2009, is titled What I Wish I Knew When I Was 20: ACrash Course on Making Your Place in the World.I-Corps E245 Syllabus Revision 17 page 27 of 33
  • John BurkeJohn is a founder of True Ventures, with a passion in early stage investingand growing companies. For eight years, he livedthrough the balancing act of building his owncompany at BMI Software, which he founded in1989 and sold in 1997.He began his venture career at ABS Ventures in1999, working with Phil Black, and then, afterthe acquisition of Alex Brown and Sons by Deutsche Bank, continued onwith DB Capital Partners. Before founding True, John was a ManagingMember with Blacksmith Capital. He recently crossed an important thresholdin his professional life: he has now been a venture capitalist longer than hewas a CEO. However, like most life changing events, he can still rememberthe late nights dealing with HR issues, the relief of meeting payroll, and thesatisfaction of delighting a customer.Having lived through the tough decisions required in entrepreneurship, Johnis now able to guide his portfolio companies through the difficult times witha deftness that only those years of operating experience bring. John holds aBS degree in Mechanical Engineering from U.C. Berkeley, a BA degree inEconomics from U.C. Santa Cruz, and a MBA degree from Harvard BusinessSchool. When he is not thinking about how to create a more valuablecompany, you can probably find him bird hunting with his German ShorthairPointer, teaching his kids to ski, or building furniture in his shop.I-Corps E245 Syllabus Revision 17 page 28 of 33
  • Alexander OsterwalderAlexander Osterwalder is an entrepreneur, speaker andbusiness model innovator. He co-authored Business ModelGeneration, a global bestseller (over 120,000 copies) onthe topic of business model innovation.In the words of Fast Company Magazine in naming Alexs book one of theBest Books for Business Owners in 2010, "In Business Model Generation,Osterwalder encourages owners to plot out their business model usingsomething he developed called the "business model canvas." It forcesentrepreneurs to communicate their business model visually, whichOsterwalder says sharpens their thinking and allows them to get whats intheir head onto a canvas for others to see and contribute to. Once your visionhas been exported from your head onto a canvas your employees helped tocreate, youll have a business that can grow without you calling all the shots— which is the essence of a sellable company. This is by far the mostinnovative book on how to think about putting together a business."He holds a PhD from HEC Lausanne, Switzerland, and is a founding memberof The Constellation, a global not-for-profit organization aiming to makeHIV/AIDS and Malaria history.I-Corps E245 Syllabus Revision 17 page 29 of 33
  • Kevin DewaltKevin M. Dewalt is a technology entrepreneur inArlington, VA. He is an authority on new productinnovation, having held roles in hands-onengineering, fundraising, sales, and marketdevelopment.He is currently Entrepreneur inResidence with Innovation Accelerator, a public-private partnership with the National Science Foundation.At In-Q-Tel, the investing arm of the Central Intelligence Agency, Mr.Dewalt helped make over $20M of venture investments in 25 start-ups &helped deploy the technologies to the federal market.As a founder of 2 startups - ManyWheels, an automotive logistics service andSoapbox.com, a consumer web subsidiary he incubated at The Motley Fool –he secured $2M+ funding and brought both products to market.He began his career as an engineer & project manager with the US CoastGuard and at FINRA where he ran a worldwide engineering team regulatingNASDAQ Stock Market.Mr. Dewalt received a BS in Electrical Engineering as the #1 graduate fromthe US Coast Guard Academy and an MS in EE from Stanford University.He also an active leader in driving innovation as: Board member of SENS Foundation, funded by Peter Theilto develop regenerative medical solutions to the diseases of aging. Investment panel reviewer for the National Science Foundation. Blogger, speaker, and event organizer supporting the start-up ecosystem in the Washington DC metro region.Although his lifelong ambition is to play professional golf – a dream cutshort at birth by an utter lack of talent – he still plays the game regularly withhis wife in Arlington.I-Corps E245 Syllabus Revision 17 page 30 of 33
  • Tony MakTony Mak is a Senior Associate at O’Reilly AlphaTechVentures (OATV). Prior to joining OATV, Tony workedfor Redknee (TSX: RKN) in Product Management andSales Engineering leadership roles. At Redknee, he wasresponsible for the highest revenue generating productline and built a new international sales organization. Inaddition, he co-founded a social applications businesswhich was later sold to Zoosk, the largest social dating network.Previously, Tony worked for Newbury Ventures and UBS Investment Bankassessing new investments, conducting due-diligence, performing corporatefinance and M&A advisory. He has also held technical roles at CiscoSystems, Ciena Corp and CGI Group. Tony has a BASc in ComputerEngineering from University of Waterloo and an MBA from UC Berkeley,where he was awarded the Price Fellowship Award and Gloria Appel Awardfor leadership in entrepreneurship.www.tonymak.comI-Corps E245 Syllabus Revision 17 page 31 of 33
  • Welcome to I-Corps 245This course provides real world, hands-on learning on what it’s like to actually start a high-techcompany. This class isnot about how to write a research paper, business plan or NSF grant. It’snot an exercise on how smart you are in a lab or a classroom, or how well you use the researchlibrary. The end result is not a paper to be published or PowerPoint slide deck.Instead the entireteam will be getting their hands dirty talking to customers, partners, competitors, as youencounter the chaos and uncertainty of how to commercialize your technology.Getting out of the building is what the class is about. It’s not about the lectures. If you can’tcommit the time to talk to customers, don’t take the classYou’ll work in teams learning how to turn your research and technologyidea into a greatcompany. You’ll learn how to use a business model to brainstorm each part of a company andcustomer development to get out of the classroom to see whether anyone other than you wouldwant/use your product. Finally, you’ll see how agile development can help you rapidly iterateyour product to build something customers will use and buy. Each week will be new adventureas you test each part of your business model and then share the hard earned knowledge with therest of the class. Working with your team you will encounter issues on how to build and workwith a team and we will help you understand how to build and manage the startup team.Students▪ I-Corps 245 is only open to NSFI-Corps students.▪ We encourage the teams to recruit any and all resources to their teams. Non studentscan serve as extra members of the teams.▪ Each team must have 3I-Corps students.▪ This is very intense class with a very high workload. We expect you to invest at least 5-10 hours per week.Attendance and Participation▪ You cannot miss the first three classes at Stanford or the final presentations at Stanford▪ If you anticipate missing more than one remote lecture, we recommend that you wait to apply to the I-Corps when you can commit the time.▪ Getting out of the building is what the class is about. It’s not about the lectures. If you can’t commit the time to talk to customers, don’t take the class.I-Corps E245 Syllabus Revision 17 page 32 of 33
  • Help! What kind of support will our team have? The teaching team consists of three professors, and aTeaching Assistant. In addition each team will be assigned a Stanford “Mentor.” A mentor is an experienced entrepreneur or venture capitalist assigned to your team. They’ve volunteered to help with the class and your team because they love startups.Their job is to guide you as you get of the building. How often can we/should we talk to our mentors? Your mentor is expecting to meet with you at the first Stanford Workshop and talk to you at least every two weeks. You can email them or meet with them more often as they have time for. Can I talk to a mentor not assigned to my team? By all means, do so. All the mentors are happy to help. However they cannot support your team full time unless your mentor decides to swap places with them. I have a busy schedule and my mentor can’t talk when I want them to. Mentors have day jobs.Asking them to talk or reply to you ASAP is not acceptable.So plan ahead to allow for a reasonable amount of time for a reply or meeting.Be concise with your request and be respectful of their time. I need help now. You first stop is your TA’s. Email or sit down with them during the week if you have a problem. Your professors have office hours every Tuesday at 3pm. If you need something resolved sooner, email us. Who are the Mentors? See the mentor list at the end of this document and on the class website.Team Dynamics What roles are in each team? Traditionally, each team member is part of the “customer development team”.You have to figure out how to allocate the work. What if my team becomes dysfunctional? Prepare to work through difficult issues. If the situation continues, approach the teaching team. Do not wait until the end of the quarter to raise the issue. What if one of my teammates is not "pulling his/her weight"? Try to resolve it within your team. If the situation continueslonger than a week, please approach the teaching team. Final grades will also reflect individual participation and contribution.I-Corps E245 Syllabus Revision 17 page 33 of 33