This document outlines an agenda for discussing innovation and entrepreneurship. It provides insights from two entrepreneurs, including that 92% of startups fail within 3 years, often due to premature scaling. The document discusses developing a strong value proposition and managing a venture through a team-based process with metrics and spending controls. It emphasizes defining roles, focusing on problems not people, and the importance of mentors, meetings, and feedback in developing a collaborative culture.

1. March 24, 2016
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2. Agenda
1. Jim Locker
2. Innovation and Economics
3. Entrepreneurial Observations
4. Boundaries
5. Projects and Funding
6. Economics/Management
7. The Value Proposition
8. People
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3. Innovation & Economics
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4. WINNING!
Pluses
 Mentors
 Metrics
 Value Proposition
 Savvy
 Acceptance/Relevance
Pitfalls
 Weak cash flows
 Underestimate time
 Unclear business model
 Overinvestment
 Lack of team capabilities
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5. Observations from Two
Entrepreneurs
 3 Year view
 92% of Startups failed
 74% failed due to
premature scaling
 Tech highest rate
 5 Year view
 90% of new businesses fail
 9% - “Walking Wounded”
 Failure - not idea, money or
competition - management
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6. Innovation Landscape
 iPhone 3 >> 4, 5, 6, 6S; Samsung
 Apple Watch >>?
 Camera >> Digital – LCD, LED
 PayPal >> Apple/Samsung Pay
 Honest Dollar (Fintech) >>?
 IsoPlexis (pharma) >>?
 Yogurt, craft beer
 Toothpaste
 Detergent
 Delivery of home cooked meals
 Breakfast all day
 Auxiliary lens for smart phone
 Catalyst for metal processing
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7. Current Ventures
1. Point-of-care diagnostic test
2. Substrate technology
3. Image data
4. Patronize local bars
5. On-demand transportation
6. Over the counter health
supplement
7. Subscription service for
home related products
8. Personal finance
management tool
9. Specialty beverages
10. Promote STEAM careers
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University BUniversity A

8. Venture Action Activity
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9. Economics
 Investment
 People
 Opportunity cost/alternatives
 Tradeoffs and alternatives
 Careful spending – “progress payments”
 Spend on what really matters
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10. Managing the Venture
 No guarantee – even for “best” idea
 Reflect in “lean terms”
 Waste Quality Delivery Cost
 Utilize a Team-based process
 Metrics Timing Teamwork
 Spend management
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11. Value Proposition
Solve a problem
 What is the problem?
 How much commitment?
 What does success look like?
Reality and environment
 Current options
 Competitors
 Alternatives
 Delivery
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12. Theory and Practice
 Home cooking delivered to your door
 Steam Iron
 Electrochemical processing
 IsoPlexis (pharma)
 Auxiliary lens for Smart Phone
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13. People Dimension
Team leadership
 Definition of roles
 Focus on the problem, not the person
 Don’t shut out the lower power individuals
 Mentors
 Pace of progress
 Informal oversight
 The two entrepreneurs
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14. Importance of People
1. Hands-on role
2. Athletes
3. Team and culture
4. Weekly meetings
5. Feedback
6. Metrics
7. Questions
8. Divide and conquer
9. Collective atmosphere
10. Your company’s mission
11.Spend time with every employee
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15. Summary
 Hone venture’s Value Prop
 Adopt team-based development process
 Venture is dynamic – reconfirm Value Prop
along the way
 Don’t default the process
 Accept feedback
 Mentor and advisory board perspectives
 Watch cash flow
 HAVE FUN
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16. March 24, 2016
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