Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Entrepreneurship & Innovation: Dual-core Engine

248 views

Published on

Lecture at Hanoi Innovation Week:
Innovation and Entrepreneur are important and nested
How to develop entrepreneurial spirit ?
How to make innovation happens ?
How to start a business?
Where to go for support?

Published in: Business
  • Be the first to comment

Entrepreneurship & Innovation: Dual-core Engine

  1. 1. ENTREPRENEURSHIP & INNOVATION DUAL-CORE ENGINE TRAN TRI DUNG TRAN@JEAUSTIN.COM INNOVATION WEEK HANOI * 7-20 AUGUST, 2016
  2. 2. TODAY FLOW Innovation and Entrepreneur are important and nested How to develop entrepreneurial spirit ? How to make innovation happens ? How to start a business? Where to go for support?
  3. 3. INNOVATION & ENTREPRENEURSHIP Orientation Resource Prospect Total Failure Rent-seeking 8 29 37 Innovation 0 10 10 Fraud Rent-seeking 181 19 200 Innovation 5 4 9 194 62 256 Business Approach: Rent-seeking vs. Innovation-making Corporate Orientation: Tapping out resources vs. Seeking prospective markets M&A Acquiring Pursuit: Assets & Brands vs. Innovation Capacity & Willingness * Vuong, Q.H., Napier, N.K. & Samson, D.E. (2013). Innovation as determining factor of post-M&A performance: The case of Vietnam. International Journal of Business and Management, 8 (18). * Vuong, Q.H., Napier, N.K., Tran, T.D. & Nguyen, T.H.K. (2013). A Categorical Data Analysis on Financial Failures in Vietnam, 2007-2013. International Journal of Business and
  4. 4. LIFE IS BEAUTIFUL..
  5. 5. ‘ECO’ CAR Is this an innovation?
  6. 6. HOW ABOUT THIS?
  7. 7. THE FACT IS..
  8. 8. ENTREPRENEUR IS… Desire to create new value Accept uncertainty Capability to capture opportunity
  9. 9. NEED A BUSINESS PLAN • Benjamin Franklin: “If you fail to plan, you are planning to fail!” • Doing business is a disciplined process • Why? What? How? Steve Blank, 2013. Why the lean startup Changes Everything. Harvard Business Review.
  10. 10. HIGH RISK IS NOT HIGH RETURN o Risk: Difference between Expectation and Reality o Uncertainty: doubtful or unknown Entrepreneurs accept uncertainty and manage risk o Most important: Attitude to Risk
  11. 11. 4. How do you make money off your product? 5. How do you design and build your product? 6. How do you scale your business? Disciplined Entrepreneurship: 24 Steps to A Successful Startup – by Bill Aulet (MIT), Willey 2013 1. Who is your customer? 2. What can you do for your customer? 3. How does customer acquire your product?
  12. 12. INNOVATION = INVENTION * COMMERCIALIZATION • Invention: Uniqueness  “The Entrepreneur Curse” • Commercialization: • New product or production method • Make it available on the market Customers, Sales, Profits • Innovation: Appropriate and Useful 1. Whose problem? 2. How good is good? 3. Is it profitable?
  13. 13. Zing.vn (14 May 2016): $0.018-0.027/kg of salt in Duc Pho, Quang Ngai 100gram: $0.909 INNOVATION IS EVERYWHERE
  14. 14. “Information is not knowledge” ?
  15. 15. FILTERING INFORMATION FOR USEFUL INSIGHTS Vuong, Q.H. and Napier, N.K. (2014). Making creativity: the value of multiple filters in the innovation process. International Journal of Transitions and Innovation Systems,3(4),
  16. 16. 3D INFORMATION PROCESS OF INNOVATION Vuong, Q.H. and Napier, N.K. (2014). Making creativity: the value of multiple filters in the innovation process. International Journal of Transitions and Innovation Systems,3(4), pp.294–
  17. 17. SERENDIPITY IS NOT… SERENDIPITOUS ? Nonaka, (1991), p.101
  18. 18. A STORY IN VIET NAM
  19. 19. DON’T BE ALONE WOLF It is all about TRUST A mindset can be improved Building trust is a process Quan Hoang Vuong and Nancy K. Napier (2015) Acculturation and Global Mindsponge: An Emerging Market Perspective. International Journal of Intercultural
  20. 20. LESSONS LEARNT FROM ILLUMINATE DANCE GROUP: #3 AMERICA’S GOT TALENT SEASON SIXTH 1. Try weird combination 2. Stay focused 3. Have a strategy 4. Be a team 5. Have a strategic vision at the beginning
  21. 21. ARE YOU READY???
  22. 22. WHERE TO GO? • Incubators and Accelerators • Topica FI; ; VSVA; Hatch!Incubation; Innovatube; VIISA • ExparaBSSC; DNES; BTIC; ITP; SVF • Services and support: • Mentoring • Coaching & Training • Infrastructure • Seed financing • Networking
  23. 23. CO-WORKING SPACES
  24. 24. STARTUPS THAT HELP OTHER STARTUPS STARTUP The New Yorker’s Cartoon  It is not a problem  There are some advantages:  Been there, done that  Receptive and Collaborative  Ecosystem hubs  Developing/introducing more services to the ecosystem:  Incubation and acceleration programs  Mentoring services  Angel investing networks
  25. 25. MENTORING: PROVEN IMPACTS! 3.5X INCREASE IN SALES GROWTH 7 TIMES MORE LIKELY TO RAISE MONEY Mentoring Programs in Hanoi: KisStartups & Hatch
  26. 26. Knowledge 28% Connect to network 30% Help make decision 16% Help… Push and Challenge 20% Benefits to startups SECOEP Survey in March 2016 Business Managers 26% Academic people 11% Professionals 23% Champions 27% Investors 11% Others 2% Mentors are

×