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Part 1 - You Are Here v3
Part 1 - You Are Here v3
MANU 4211
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OUTLINE
1. Terminologies
2. Technology Entrepreneurship Today:
Trends, Opportunities & Challenges
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What Is Your Understanding
on These Terminologies?
• Business
• Entrepreneurship
• Technology
• Technological Entrepreneurship (TE)
• Waves of Innovations
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Business
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Entrepreneurship
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Technology
• High-tech
• The collection of techniques, skills, methods,
and processes used in the production of
goods or services or in the accomplishment
of objectives, such as scientific investigation.
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Technology Entrepreneurship (TE)
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Technology Entrepreneurship
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Waves of Innovations
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Technology Entrepreneurship
Today
• Trends
• Opportunities
• Challenges
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Level of Technology Entrepreneurship
Established
Startup Business
Expert
Entrepreneur
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Startup
• A company or project initiated by an individual / group of people to seek,
effectively develop, and validate a scalable and repeatable business model –
Experimentation.
• Has no established customers & facing uncertainty. Thus, the startup cannot
simply execute a proven business model.
• In early days, it is difficult to find a way to consistently attract & deliver value to
target customers. Intend to grow beyond the solo founder, have employees,
and intend to grow large.
• The immediate goal may be to be credible, proving customer demand, or
market viability, as opposed to demonstrating sales and revenue.
• High rates of failures
• What are examples of startup company that you know in the world and in
Malaysia?
Carsome Iflix DahMakan 13
Startup
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Expert Entrepreneur
• Launch new ventures only after taking thorough stock of resources which they have access
and control.
• Know that problems arise but instinctively avoid many of them through strategic thinking.
• Know that nothing in their plans is above being changed. They are prepared to
change radically (or abandon) a project if needed.
• What are examples of expert entrepreneurs that you know in the world and in Malaysia?
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Expert Entrepreneur’s effectual reasoning
Technology Entrepreneurship (TE)
Big Data
The
Internet of
Quantified
Things
Self
Transformative
internet
technology
trends in recent
years
Cloud Collaborative
Computing Commerce
Context
Awareness
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Trends and opportunities
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Five pillars of Technology
Entrepreneurship
• Pillar #1: Value Creation
• Pillar #2: The Lean Startup
• Pillar #3: Customer Discovery & Validation
• Pillar #4: The Business Model Canvas
• Pillar #5: The Entrepreneurial Method
SELF LEARNING
Quiz on this topic (5 pillars of technology entrepreneurship)
30th September 2019, Monday 22
Pillar 1: Value Creation
Influence
Value
Enjoyment
Value
Social
Value
Harmony
Value
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Examples of value creation
Example 1:
Example 2:
https://youtu.be/fEvKo90qBns
• In his previous venture, Ries was convinced that he and his team had
built a world-class technology that provided benefits to customers,
but not enough customers bought the product after it was launched.
• Ultimately, he realized, the problem was that the company ran out
of money before it was able to deliver a product that attracted
enough customers to generate sufficient cash flow to survive on its
own. 29
Pillar 2: The Lean Startup
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Pillar 2: The Lean Startup
Entrepreneurial Management
Validated Learning
Innovation Accounting
• How much the venture is learning and its progress towards finding a scalable,
repeatable business model.
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Pillar 3: Customer Discovery & Validation
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Pillar 4: Business Model Canvas
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Pillar 5: Entrepreneurial Method
• More deeply involved in • Competitive by nature and
the actual value creation are prepared to compete in
process than are most markets where there are
corporate managers and clear winners and clear
leaders. losers.
• The value creation #1: Expert #2: Expert • Believe that, as long as
Technology Technology
process is iterative and Entrepreneurs Entrepreneurs
something useful was
experimental, relying on Believe Value Rebound learned, rebounding
customer feedback to Creation is the Personally and personally and
discover what the Primary Purpose Professionally professionally from
of their Business from Failure failure is a virtue.
venture should attempt
to sell.
#3: Expert #4: Expert
Technology Technology
• Expert technology Entrepreneurs Entrepreneurs
• Willing to run
entrepreneurs have Respect Private Respect the numerous experiments
respect for private Property and Judgment of the with their product and
Uphold Marketplace
property and contracts. Contractual service offerings and to
• To them, private property Obligations “pivot,” if necessary,
comprises the based on market
fundamental resources feedback.
that they can leverage to
create value for a market. 42
Technology Venture
Idea Generation
• Fundamental Venture Types
• The Idea Generation Process
• Non-traditional Idea Sources
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Introduction
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Fundamental Venture Types
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Fundamental Venture Types B2C
• If you are thinking about building a venture in a B2B quadrant, there are
three primary ways to create value:
1. Help companies make more money
2. Help companies save money
3. Help companies comply with government regulations
and/or community norms.
• B2B ventures have to create value in one of these three categories or they
simply won’t attract business customers. Businesses are not interested in
“fashionable” or “whimsical” items in the way consumers often are.
• Most businesses are focused on making profits, and the only way to do
that is through increasing sales, decreasing costs, or avoiding litigation
and/or fines as a result of running afoul of regulations and norms.
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Fundamental Venture Types B2G
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Idea Generation Process
1. Identify a 4. Explore
2. Innovate a 3. Test a
point of pain how to
product or business
in a target acquire
service models
market customers
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Idea Generation Process
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Non Traditional Idea Sources
CLASS CODE:
y23hhfv
Please check the site regularly / everyday.
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Technology Entrepreneurship MANU 4211
Sections 1 & 2
Submit Your Group Project Title & Members Through:
https://forms.gle/3QYwwyLfjbS8KC4B8
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