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Why you will Fail to be a
Successful Technology
Entrepreneur
Dr. Andrew Maxwell
Bergeron Chair in Technology Entrepreneurship
August 21, 2018
Overview of this experience….
• Introdcutions?
• Why is Technology Entrepreneurship Important?
• Can you Learn about Technology Entrepreneurship?
• Is it possible to Link Design Thinking to Venture Creation?
• What are the Myths of Entrepreneurship?
• How did your perceptions of Technology Entrepreneurship
Change?
University of Toronto
WhatIdid:
• WorkedatInnovationsFoundation
• TaughtTechnologyCommercializationatRotman
• TaughtTechnologyEntreprenerushipinMBiotech
• StartedtheExceler@tor–Technologyincubator
WhatIobserved:
• Wedidn’t knowhowtoteachentrepreneurship
• Technologycommercializationprocessisflawed
• Universitiesdidn’tknowhowtomanageeither
• No-oneunderstoodtheimportanceoftechnologyventures
3
Importance of
Commercializing
University Research
Why is Technology Entrepreneurship Important?
Importance of Experiential Learning
5
Concrete
Experience
Reflective
Observation
Abstract
Conceptualization
Active
Experimentation
Kolb, D. A. (1984). Experiential learning, Prentice
University of Waterloo
WhatI did
• PhDin Managementof Technology
• JoinedCanadianInnovationCentre
• TaughtEngineers- TechnologyEntrepreneurship
WhatI observed
• Wedidn’tstudytheentrepreneurialprocess
• Weignoredthepeoplesideof entrepreneurship
• Wehada poor understandingof investmentdecisions
6
Place your screenshot here
7
• Use a Sequential
Elimination Process
• Make non -
compensatory decisions
• Audit trust behaviours
Lessons from Dragons’ Den
Active Experimentation
Entrepreneurial Engineering
What is Entrepreneurial Engineering?
WhatI amdoing
• Teaching Creative Problem Solving/Design Thinking
• Leading International Entrepreneurial Experience
• Supporting co-curricular activities
How I am doingit
• Transforming students’ learning in class
• Guiding experiential learning journeys
• Fostering co-curricular learning activities
• Linking design thinking to venture creation
9
The
Marshmallow
Challenge
TomWujec
Autodesk
https://www.ted.com/talks/tom_wujec_build_a_tower In class
Experience
In class20sticksofspaghetti oneyardtape oneyardstring onemarshmallow+
+
+
The Marshmallow Challenge:
In teams, build the tallest free standing
structure in 18 minutes
Use only
Orie
nt
0
Pl
an
18
Minutes
Ta-
Da!
Bui
ld
Orie
nt
0 18
Minutes
Pl
an
Oh-
Oh!
Bui
ld
Prototyping
Matters
Lesson One:
Lesson Two:
Diverse
Skills
Matter
Experience
Shared
Language
Common
Prototyping&
Facilitation
Can you learn about Technology
Entrepreneurship?
• What is it?
• What do we know about successful Technology
Entrepreneurs?
• Is there a Venture Creation Process?
• How will you decide if you are destined to be a Successful
Technology Entrepreneur?
The Myths of Technology
Entrepreneurship
It starts with a great idea
New ventures are started by
individuals
Entrepreneurs are risk takers
Entrepreneurs are motivated by
money
Your boss knows more than you
Venture creation process is linear
Important to focus on good solutions
Best Ideas Win
Make your customer take a leap of faith
Important to focus on the right project
Importance of
Commercializing
University Research
What did you learn today?
Andrew Maxwell PhD
Associate Professor,
Bergeron Chair in Technology
Entrepreneurship
Lassonde School of Engineering
bestmax@yorku.ca
www.innovationcartography.com
Making sense of the pieces

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