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How the Silicon Valley
Innovation Ecosystem Works:
Stanford University’s Contributions

Professor Tom Byers

Stanford University
UNCF HBCU Innovation Summit
October 31, 2013
Copyright © 2013 by the Board of Trustees of the Leland Stanford Junior University and Stanford Technology Ventures Program (STVP).
This document may be reproduced for educational purposes only.
Welcome to Silicon Valley
Domains of the Entrepreneurship Ecosystem
Silicon Valley Highlights
1. MARKETS: Many early adopters of new technology
2. HUMAN CAPITAL: A talent pool and social networks
– Loyalty to the technology with a unique openness
– Highly skilled and motivated
– Diverse (highly multicultural)

3. SUPPORTS: A services infrastructure with many suppliers for
outsourcing (accounting, public relations, etc.)
4. FINANCE: A venture capital industry that provides more than financing
(e.g., strategic advice, contacts, and recruiting of teams)
5. CULTURE: An entrepreneurial spirit and culture
– Role models that demonstrate audacity and humility
– Flat organizational structures and meritocracy
– OK to talk and partner across company boundaries about common issues and challenges
– OK to fail, learn from it, and then try again (e.g., a willingness for experimentation and
tolerance for risk)
Welcome to Stanford!
Stanford’s Economic Impact Through
Entrepreneurship and Innovation

Data from “Stanford University’s Economic Impact via Innovation and Entrepreneurship” survey conducted in 2011 by Charles E. Eesley and William F. Miller, Stanford University
Stanford’s Activities

1. Interaction with industry, basic research funding, and
bold and creative thinking
2. Silicon Valley as a nearby planting ground for ideas
3. Students as inventors, disseminators, and workforce
4. Effective technology transfer and licensing operations
5. Progressive faculty policies toward entrepreneurship
6. Encouraging entrepreneurship and innovation
education on campus…
Stanford’s Activities
Stanford Technology Ventures Program

Courses
Entrepreneurship and innovation courses for undergraduate and graduate students offered in
collaboration with Stanford’s Department of Management Science and Engineering
Research
Leading-edge basic and applied research that enhances understanding of how new technology
businesses form, survive and grow
DFJ Entrepreneurial Thought Leaders Seminar
Weekly lecture series where entrepreneurial leaders share the lessons of their experience with
students, the Stanford community and the public
Mayfield Fellows Program
Nine-month work/study program designed to help undergraduates develop a theoretical and
practical understanding of the techniques for growing technology companies
Accel Innovation Scholars
Yearlong program for Stanford engineering Ph.D. students focusing on technology
commercialization, opportunity evaluation and entrepreneurial leadership
National Reach: Epicenter
Professor Sheri Sheppard, co-PI

•

Funded by the National Science Foundation and managed by Stanford
University and the National Collegiate Inventors and Innovators Alliance

•

Empowers U.S. undergraduate engineering students to bring their ideas
to life for the benefit of our economy and society by helping them
combine their technical skills, their ability to develop innovative
technologies that solve important problems, and an entrepreneurial
mindset and skillset

Tom Byers

Sheri
Sheppard

Kathleen Eisenhardt Tina Seelig Leticia Britos
Cavagnaro

Laurie Moore

Phil
Weilerstein

Angela Shartrand

Humera Fasihuddin
Epicenter’s Key Activities
Faculty
Host conferences and workshops on innovation and
entrepreneurship (I&E) education for engineering faculty

Students
Empower engineering students to catalyze grassroots I&E
movements at their schools

Leadership
Guide entrepreneurship-ready schools through process of
institutional change in engineering education

Research
Examine models for educating engineers in entrepreneurial
thinking and build a national research community

Online
Expand I&E learning resources to students and faculty via
online courses and modules
Conversation with
Two Current Students

Kai Kight

B.S. candidate
Product Design Engineering
Stanford University

Theresa Lynn Johnson
Ph.D. candidate
Aeronautics and Astronautics
Stanford University
Q&A and Suggested Resources
sen.stanford.edu
stvp.stanford.edu
epicenter.stanford.edu

Entrepreneurship: Its Role in Engineering Education
by Tom Byers, Tina Seelig, Sheri Sheppard, and Phil Weilerstein
Summer 2013, Vol 42, No 2
epicenter.stanford.edu/nae-bridge-summer-2013
How to Start an Entrepreneurial Revolution
by Daniel J. Isenberg
MIT Enterprise Forum Colombia
bit.ly/epi-revolution

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How Stanford University Drives Silicon Valley Innovation

  • 1. How the Silicon Valley Innovation Ecosystem Works: Stanford University’s Contributions Professor Tom Byers Stanford University UNCF HBCU Innovation Summit October 31, 2013 Copyright © 2013 by the Board of Trustees of the Leland Stanford Junior University and Stanford Technology Ventures Program (STVP). This document may be reproduced for educational purposes only.
  • 3. Domains of the Entrepreneurship Ecosystem
  • 4. Silicon Valley Highlights 1. MARKETS: Many early adopters of new technology 2. HUMAN CAPITAL: A talent pool and social networks – Loyalty to the technology with a unique openness – Highly skilled and motivated – Diverse (highly multicultural) 3. SUPPORTS: A services infrastructure with many suppliers for outsourcing (accounting, public relations, etc.) 4. FINANCE: A venture capital industry that provides more than financing (e.g., strategic advice, contacts, and recruiting of teams) 5. CULTURE: An entrepreneurial spirit and culture – Role models that demonstrate audacity and humility – Flat organizational structures and meritocracy – OK to talk and partner across company boundaries about common issues and challenges – OK to fail, learn from it, and then try again (e.g., a willingness for experimentation and tolerance for risk)
  • 6. Stanford’s Economic Impact Through Entrepreneurship and Innovation Data from “Stanford University’s Economic Impact via Innovation and Entrepreneurship” survey conducted in 2011 by Charles E. Eesley and William F. Miller, Stanford University
  • 7. Stanford’s Activities 1. Interaction with industry, basic research funding, and bold and creative thinking 2. Silicon Valley as a nearby planting ground for ideas 3. Students as inventors, disseminators, and workforce 4. Effective technology transfer and licensing operations 5. Progressive faculty policies toward entrepreneurship 6. Encouraging entrepreneurship and innovation education on campus…
  • 9. Stanford Technology Ventures Program Courses Entrepreneurship and innovation courses for undergraduate and graduate students offered in collaboration with Stanford’s Department of Management Science and Engineering Research Leading-edge basic and applied research that enhances understanding of how new technology businesses form, survive and grow DFJ Entrepreneurial Thought Leaders Seminar Weekly lecture series where entrepreneurial leaders share the lessons of their experience with students, the Stanford community and the public Mayfield Fellows Program Nine-month work/study program designed to help undergraduates develop a theoretical and practical understanding of the techniques for growing technology companies Accel Innovation Scholars Yearlong program for Stanford engineering Ph.D. students focusing on technology commercialization, opportunity evaluation and entrepreneurial leadership
  • 10. National Reach: Epicenter Professor Sheri Sheppard, co-PI • Funded by the National Science Foundation and managed by Stanford University and the National Collegiate Inventors and Innovators Alliance • Empowers U.S. undergraduate engineering students to bring their ideas to life for the benefit of our economy and society by helping them combine their technical skills, their ability to develop innovative technologies that solve important problems, and an entrepreneurial mindset and skillset Tom Byers Sheri Sheppard Kathleen Eisenhardt Tina Seelig Leticia Britos Cavagnaro Laurie Moore Phil Weilerstein Angela Shartrand Humera Fasihuddin
  • 11.
  • 12. Epicenter’s Key Activities Faculty Host conferences and workshops on innovation and entrepreneurship (I&E) education for engineering faculty Students Empower engineering students to catalyze grassroots I&E movements at their schools Leadership Guide entrepreneurship-ready schools through process of institutional change in engineering education Research Examine models for educating engineers in entrepreneurial thinking and build a national research community Online Expand I&E learning resources to students and faculty via online courses and modules
  • 13. Conversation with Two Current Students Kai Kight B.S. candidate Product Design Engineering Stanford University Theresa Lynn Johnson Ph.D. candidate Aeronautics and Astronautics Stanford University
  • 14. Q&A and Suggested Resources sen.stanford.edu stvp.stanford.edu epicenter.stanford.edu Entrepreneurship: Its Role in Engineering Education by Tom Byers, Tina Seelig, Sheri Sheppard, and Phil Weilerstein Summer 2013, Vol 42, No 2 epicenter.stanford.edu/nae-bridge-summer-2013 How to Start an Entrepreneurial Revolution by Daniel J. Isenberg MIT Enterprise Forum Colombia bit.ly/epi-revolution

Editor's Notes

  1. MARKETS … Its many early adopters of new technology HUMAN CAPITAL … Its talent pool and social networks Loyalty to the technology with a unique openness Highly skilled and motivated Diverse (highly multicultural) SUPPORTS … Its services infrastructure with many suppliers for outsourcing (accounting, public relations, etc.) CULTURE … Its entrepreneurial spirit and culture Role models that demonstrate audacity and humility Flat organizational structures and meritocracy OK to talk and partner across company boundaries about common issues and challenges OK to fail, learn from it, and then try again (e.g., a willingness for experimentation and tolerance for risk) FINANCE … Its venture capital industry that provides more than financing (e.g., contacts, recruiting teams)
  2. MARKETS … Its many early adopters of new technology HUMAN CAPITAL … Its talent pool and social networks Loyalty to the technology with a unique openness Highly skilled and motivated Diverse (highly multicultural) SUPPORTS … Its services infrastructure with many suppliers for outsourcing (accounting, public relations, etc.) CULTURE … Its entrepreneurial spirit and culture Role models that demonstrate audacity and humility Flat organizational structures and meritocracy OK to talk and partner across company boundaries about common issues and challenges OK to fail, learn from it, and then try again (e.g., a willingness for experimentation and tolerance for risk) FINANCE … Its venture capital industry that provides more than financing (e.g., contacts, recruiting teams)
  3. MARKETS … Its many early adopters of new technology HUMAN CAPITAL … Its talent pool and social networks Loyalty to the technology with a unique openness Highly skilled and motivated Diverse (highly multicultural) SUPPORTS … Its services infrastructure with many suppliers for outsourcing (accounting, public relations, etc.) CULTURE … Its entrepreneurial spirit and culture Role models that demonstrate audacity and humility Flat organizational structures and meritocracy OK to talk and partner across company boundaries about common issues and challenges OK to fail, learn from it, and then try again (e.g., a willingness for experimentation and tolerance for risk) FINANCE … Its venture capital industry that provides more than financing (e.g., contacts, recruiting teams)
  4. Participants interested in conducting a similar survey at their schools can download the survey materials at http://epicenter.stanford.edu/resource/alumni-innovation-survey