This document summarizes Rebeca Hwang's introductory session on entrepreneurship and innovation. The session discusses the role of entrepreneurship and tech startups in the economy, as well as the role of universities and corporations in creating fertile entrepreneur ecosystems. Specific topics covered include how Silicon Valley ecosystems generate success, what is required to be an innovator and create value, and how Mexico compares globally in this area. Traits of successful entrepreneurs and common mistakes by Mexican entrepreneurs entering Silicon Valley are also summarized.

1. Sesión
introductoria
Rebeca Hwang

2. Rebeca Hwang | YouNoodle
§ Sesión introductoria

3. Puntos a discutir:
§ ¿Cuál es el rol de la innovación y los
emprendimientos tecnológicos en la
economía?
§ ¿Cuál es el rol de las universidades y las
corporaciones para crear un ecosistema de
emprendedores fértil?

4. Puntos a discutir:
§ ¿Cómo se han conformado los ecosistemas de
SV para generar éxito?
§ ¿Qué se requiere para ser un innovador y
generar valor en la industria y los negocios?
§ ¿Cómo esta posicionado México con respecto
a este tema en relación a SV y el resto del
mundo?

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Why is entrepreneurship
important for the economy?

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Why is entrepreneurship
important for the economy?

7. Startups’ Economic Impact
§ GDP: Startups founded by MIT founders
generate annual revenues of 2 trillion.
(Kauffman study, 2009)
§ Jobs: Net employment creation in the US over
the last 30 years is predominantly lead by
startups that are younger than 5 years old.
(Kauffman study, 2010)

8. § Turnover of Fortune 500 companies is
increasing: 50% of the companies on 1999′s
Fortune 500 list did not make it to the 2009 list.
§ High value creation in startups:
§ Whatsapp acquired for 19 billion after 5 years
§ Uber valued at 17 billion after 5 years
§ Nest acquired for 3.2 billion after 4 years
§ Oculus acquired for 2 billion after 2 years

9. El rol de las universidades y
los estudiantes

10. El Rol de las
Corporaciones

11. Peter Thiel, Elon Musk, Max Levchin, Roelof Botha, Chad Hurley, Steve Chen,
Jawed Karim, Jeremy Stoppelman, Russel Simmons , Premal Shah
Space X
Tesla
Linkedin Slide
Yelp
Digg
Flickr
Ning
YouTube
Facebook
Kiva
Silicon Valley’s
Secret Sauce

12. Collaboration,
not Competition

13. A rising tide lifts all boats

14. Successful Silicon Valley
Entrepreneurs
§ Don’t ask for permission
§ Challenge pre-existing norms and rules: “A
healthy disregard for the impossible”, Larry
Page
§ Don’t expect a linear path
§ Take bounded risks

15. Successful Silicon Valley
Entrepreneurs
§ Accept failure
§ Are very lucky: “The harder you work, the
luckier you get”
§ Value reputation and in building long term
professional relationships

16. Startup of You
How are tech startups
different from “normal jobs”?

17. Personality traits of
successful entrepreneurs

18. Entrepreneurial
Quality: Lucky

19. Entrepreneurial Quality:
Resourceful

20. Entrepreneurial Quality:
Visionary and Practical

21. How is Mexico Perceived
in Silicon Valley?
§ Mexico, Chile, Brazil and Colombia are considered
interesting markets with high growth potential
(market size and institutional stability)
§ Mexico has developed an increasingly dynamic
startup community, with frequent cross-pollination
with the US given geographic proximity
§ Good entrepreneurs, but lack of originality in ideas
(copy cats sometimes work but they can’t sustain
an entire ecosystem)

22. How is Mexico Perceived
in Silicon Valley?
§ Graduates of elite universities in Mexico are
articulate and good presenters, but competitive
technical skills are missing
§ Institutional uncertainty for contract
enforcement and IP protection. “Negative
noise” created by safety concerns.
§ Lack of a developed funding ecosystem

23. Mexico’s great
advantages for SV
§ Proximity
§ Large Market
§ Entry point to Latin America with a large
number of graduates with excellent English
skills
§ Presence of large corporations and wealthy
families who could potentially invest in startups

24. Common Mistakes from
Mexican entrepreneurs coming to SV
§ Pensamiento a corto plazo
§ Mal timing
§ Subsidiarse con consultoría
§ Egoismo de los fundadores quienes
concentran equidad

25. Q&A
§ Next class:
Innovation and Value Creation

26. THANK YOU
@rebecahwang
Startup of You

27. Rebeca Hwang
Twitter: @rebecahwang

28. Derechos Reservados 2014 Tecnológico de Monterrey
Prohibida la reproducción total o parcial de esta obra sin
expresa autorización del Tecnológico de Monterrey.