1. Maissenhälter, Reetz – Alexy, Milanow
Kick-off
1
Advanced Topics in Entrepreneurship
Benedikt Maissenhälter / David Reetz
Prof. Dr. Oliver Alexy / Prof. Hana Milanov PhD
Applied Business
Venturing
Session #2
Ideation & Creativity
Benedikt Maissenhälter / David K Reetz
TUM Entrepreneurship Research Institute

2. 2
Agenda
1. Recap and overview of today’s session
2. You as an enterprising individual
3. Value creation
4. Ideation process
5. Take aways

3. 3
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
What did we discuss last time?

4. 4

5. 5
The idea behind the technology

6. 6

7. 7

8. Key Start-ups and Investments of the Samwer Brothers
8
Alexander,
Marc
and
Oliver
Samwer
have
very
successfully
established
clones
of
interna;onal
opportuni;es
in
Germany.
1999
Alando (founded)
• Copy of e-Bay in Germany
• After 6 months sold to e-
Bay for EUR 25 m
2000
Jamba (founded)
• Provider of cell phone ring
tones
• In 2004, sold to Verisign for
USD 273 m
2005
StudiVZ (invested)
• Copy of Facebook in
Germany
• In 2007 sold to Holtzbrinck
for EUR 85 m
2008
Facebook (invested)
• Investment after StudiVZ
exit
• Leveraged know-how from
in European Facebook-
expansion
2009
Citydeal (invested, incubated)
• Copy of Groupon in
Germany
• After 6 months sold to
Groupon for shares worth
USD 126 m
2008
Zalando (invested, incubated)
• Copy of Zappos in
Germany
• Current valuation of EUR 3
bn

9. Funding and Incubating Start-ups
9
• In 2008, the Samwers initiated the
Founder’s fund as their primary
investment vehicle
• Business incubator for start-ups
• Establishes entrepreneurial teams,
supports start-up-development
(marketing, IT, accounting)
- Specialized teams advise the
start-ups
• Leverages experience from other
investments
• Strong emphasis on internationalization
- R&D center in Portugal
- 29 dependencies across the globe

10. Dependencies of Rocket Internet
10
A
strong
emphasis
is
put
on
interna;onal
presence
to
develop
foreign
markets
as
quickly
as
possible
–
since
the
valua;on
of
Rocket’s
start-­‐ups
oFen
depends
on
total
size.

11. Overview of Current Investments
11

12. 12
January 19 - 21

13. 13

14. Session
Date
Time and Room
Topic
# 1
October 17, 2013
10.00-12.00
Room 0544
Kick-off
# 2
October 31, 2013
9.00-15.00
Room 6009 (Karlstr. 45)
Ideation & Creativity
# 3
November 14, 2013
10.00-12.00
Room 6009 (Karlstr. 45)
Technology & Entrepreneurship
# 4
November 27, 2013
12.30-15.00
Room 6009 (Karlstr. 45)
Elevator Pitch
# 5
December 06, 2013
9.00-14.00
Room 0544
Strategy
# 6
December 2013
TBA
Route to Market and Operationalization
# 7
January 19-21, 2014
TBA
3-Day Field Trip to Berlin
# 8
January 24, 2014
10.00-12.30pm
Room 0544
Financing a Start-up
# 9
January 30, 2013
14.00-17.30pm
Room 6009 (Karlstr. 45)
Slide Writing and Presentation Training
# 10
February 04, 2014
10.00-14.00
Room Z536
Final Presentation and Course Wrap-up
14
Sessions

15. 15
#2: Ideation & Creativity
§ You as an entrepreneurial individual as the starting point
§ Value creation
§ Ideation & Creativity
- How to stimulate ideas
- General principle of idea generation
- Communicate and assess ideas
§ Team formation (4 students) until 5th November 2013
§ Topic check until 10th November 2013

16. 16
How to identify
an idea?
Who to team up
with?

17. 17
Agenda
1. Recap and overview of today’s session
2. You as an enterprising individual
3. Value creation
4. Ideation process
5. Take aways

18. 18

19. 19

20. 20

21. 21

22. 22

23. 23

24. 24
2. What type of entrepreneur are you?
Think about you as an enterprising individual:
§ What are your special skills and expertise?
§ Identify what kind of entrepreneur you would like to be
- Which industry could you imagine to work in?
- How would you like to make money?
- From your gut feeling – which type of entrepreneur
would you like to be?

25. 25
Agenda
1. Recap and overview of today’s session
2. You as an enterprising individual
3. Value creation
4. Ideation process
5. Take aways

26. 26
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
What is VALUE?

27. 27
3. Value

28. 28
3. Value

29. 29
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Exercise (15min prep / 2min present)
1) Bottle description / unique value elements
2) Type of value observed
3) To whom does this value matter the most?

30. 30
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Make Meaning with what you do!
http://www.youtube.com/watch?v=lQs6IpJQWXc

31. 31
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Exercise (20min prep / 2min present)
Take the bottle you analysed and develop a value
added application using the bottle as a core feature and
make it more than just a better bottle. (Think about the
sort of value you create and who might care about it).

32. 32
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Video Philippines:
http://www.youtube.com/watch?v=Q0_4qFrxw_4

33. 33

34. 34
3. Value Creation – Start-up exercise

35. 35
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Exercise (15min prep / 2min present)
Analyse your allocated company.
What does it offer?
What is their value proposition?
You do you think cares about it?
Do you think the business was successful?

36. 36

37. 37
Agenda
1. Recap and overview of today’s session
2. You as an enterprising individual
3. Value creation
4. Ideation process
5. Take aways

38. 38
Approaches to ideas
Technology
Application
Customer

39. 39
Approaches to ideas
User Problem
Application
‘Technology’

40. 40
Approaches to ideas
User Problem
Application
Technology

41. 41
Foundations for ideas
Solutions … in search for Problems
Problems… in search for Solutions
Most original ideas are the result of two basic principles:

42. 42
Problems to work on
1. Information Overload
2. Loneliness
3. Staying healthy
4. Moving
5. Cleaning
6. Learning

43. 43
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Exercise (15min prep)
Break down the problem into addressable
problems.
What is the actual problem or problems?
Why is it a the problem and to whom?

44. 44
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Exercise (20min prep)
Think about as many solutions to your problem(s)
as possible. Generate as many ideas as possible.

45. LOW
Relevance
to
team
–
fit
&
excitement
HIGH
LOW
Problem
[scale,
scope,
impact]
HIGH

46. 46

47. 47
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Exercise (20min prep)
Pick your most impactful idea and use the
super hunch sketch pad to specify and prototype
your idea.

48. 48
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Exercise (10min)
Pair up with another group
Present your idea to the other group.
Evaluate the other group’s idea and give feedback
based on:
a) How well the problem is specified and addressed
b) The impact and value of the solution
c) The identification of the right customer
d) Feasibility of the idea

49. 49
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
Now, keep the idea you have just assessed
and improve it based on your feedback.
Present ‘your idea’ by addressing:
a) The problem you solve
b) The value you create
c) The targeted customers
Exercise (20min prep / 2 min pres)

50. 50
What if…?

51. 51
Brainstorming

52. 52
“The way to have
great ideas is to
have lots of ideas!”
Linus Pauling

53. 53

54. 54
Source:
www.theinnographer.com

55. 55
General Process of Ideation / Design
e.g. Rittel, H. 1992; Jonas, W. 2008; Brown, T. 2009; Osterwalder, A. 2010
-> Create choices
-> Generate variety
-> Divergent thinking
-> Make choices
-> Reduce variety
-> Convergent thinking
Abduction
PROJECTION
Deduction
SYNTHESIS
Induction
ANALYSIS

56. 56
Preparation & Incubation

57. 57
Creative Activities

58. 58
Creativity depends on

59. 59
Iteration is core
Source:
www.theinnographer.com
Prevent to freeze an idea too early!
Early
Often

60. 60
Visualisation of Ideas
Story Telling
Visual Thinking
Prototypes
Scenarios

61. 61
Agenda
1. Recap and overview of today’s session
2. You as an enterprising individual
3. Value creation
4. Ideation process
5. Take aways

62. 62
5. Take aways
§ You as an entrepreneurial individual matter:
- Goals / Motivation
- Skills / Resources
- Network
§ Ideation & Creativity
- General principle of idea generation
- How to stimulate ideas
- Comunicate and assess ideas! -> ‘Prototyping’
§ Value creation
-> Crucial precondition for a successful venture

63. 63
Maissenhälter, Reetz – Alexy, Milanov
Kick-off
IDEO ‘Shopping Cart’:
http://www.youtube.com/watch?v=uhOg95BsyG8

64. 64
To Dos for next Session
§ Session #3 on Technology & Entrepreneurship
Prof. Hana Milanov, PhD
Thursday, 14th November, 10.00-12.00, Room 6009
§ Please prepare the case thoroughly
§ Moreover, you need to submit a written assignment
(1 page) via email by Tuesday, 12th November, 23:59

65. 65
Written Assignment
Ques%on
1
Suppose
E
Ink
does
succeed
in
genera@ng
a
technology
with
all
the
value
proposi@ons
outlined
in
the
case:
paper
thin,
low
power
consump@on,
high
contrast,
and
inexpensive
screen
with
the
ability
to
display
all
colors.
Please
think
of
and
briefly
describe
one
different
business
opportunity
arising
from
the
technology
of
E
Ink
beyond
any
of
those
already
iden;fied
or
men;oned
in
the
case.
Ques%on
2
The
team
in
the
case
iden@fied
3
prospec@ve
opportuni@es
for
their
technology
(large
area
displays,
flat
panel
displays,
and
radio
paper).
If
you
were
an
investor
looking
at
the
poten@al
that
E-­‐ink
has,
and
the
three
opportuni@es
that
they
presented,
which
of
the
men@oned
opportuni@es
looks
most
aMrac@ve
to
you?
Please
choose
only
one
opportunity
and
back
up
your
choice
with
arguments.

66. Session
Date
Time and Room
Topic
# 1
October 17, 2013
10.00-12.00
Room 0544
Kick-off
# 2
October 31, 2013
9.00-15.00
Room 6009 (Karlstr. 45)
Ideation & Creativity
# 3
November 14, 2013
10.00-12.00
Room 6009 (Karlstr. 45)
Technology & Entrepreneurship
# 4
November 27, 2013
12.30-15.00
Room 6009 (Karlstr. 45)
Elevator Pitch
# 5
December 06, 2013
9.00-14.00
Room 0544
Strategy
# 6
December 2013
TBA
Route to Market and Operationalization
# 7
January 19-21, 2014
TBA
3-Day Field Trip to Berlin
# 8
January 24, 2014
10.00-12.30pm
Room 0544
Financing a Start-up
# 9
January 30, 2013
14.00-17.30pm
Room 6009 (Karlstr. 45)
Slide Writing and Presentation Training
# 10
February 04, 2014
10.00-14.00
Room Z536
Final Presentation and Course Wrap-up
66
Sessions

67. 67
Thank you and see you next week!
TUM Entrepreneurship Research Institute
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