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Welcome to E145/STS173 2006Welcome to E145/STS173 2006High-Technology EntrepreneurshipHigh-Technology Entrepreneurship
Session 1: Course OverviewSession 1: Course Overview
Professors Tom Byers and Randy KomisarStanford University
Copyright © 2006 by the Board of Trustees of the Leland Stanford Junior University and StanfordTechnology Ventures Program (STVP). This document may be reproduced for educational purposes only.
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Agenda:Agenda:“Is This the Right Course for Me …
Right Now?”
1. Introductions and Course Objectives
2. A Word about STVP (Entrepreneurship Center)
3. High-Technology Entrepreneurship Defined
4. Calendar, Key Deliverables, Methods, & Materials
5. Break
6. Next Steps for Admission and Our Expectations
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• Teaching Assistants:
Eric Carr and Eric Chen
• Your Turn
• Your Professors …
Introduction and BackgroundsIntroduction and Backgrounds
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Who is Randy Who is Randy ““I HateI HateDeferred Life PlansDeferred Life Plans”” Komisar Komisar??
• Education: Brown and Harvard
• Technology Lawyer: Boston and Silicon Valley
at Apple
• Founder/Entrepreneur: Claris and GO
• CEO: Lucas Arts and Crystal Dynamics
• Virtual CEO: WebTV, TiVo and others
• Author (Monk and the Riddle) and Stanford
Adjunct Professor
• Venture Capitalist: Kleiner Perkins
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Then…
Now…
Who is Tom Who is Tom ““DonDon’’t Hate Met Hate Me‘‘Cause ICause I’’m a Weenie!m a Weenie!”” Byers? Byers?
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Our Course ObjectivesOur Course Objectives
1. Understand entrepreneurial leadership and itsprocess in high-technology industries;dispel common myths and misconceptions.
2. Learn skills important for 21st centurytechnology leaders.
3. Stimulate continuous learning andpersonal reflection regardingentrepreneurship and your future.
E145/STS173
2005
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Seven Important Skills forSeven Important Skills forTomorrowTomorrow’’s Entrepreneurial Leaderss Entrepreneurial Leaders
1. Creativity and Opportunity Evaluation
2. Real-time Strategy and Decision Making
3. Comfort with Change and Chaos
4. Teamwork
5. Evangelism, Selling, Negotiation, and
Motivation through Influence and Persuasion
6. Oral and Written Communication
7. Basics of Start-Up Finance and Accounting
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The Stanford Technology Ventures Program is dedicated toaccelerating high-technology entrepreneurship education and
creating scholarly research on technology-based firms.
STVP believes that engineers and scientists need entrepreneurialskills to be successful at all levels within an organization. The
program prepares students for leadership positions in industry,academics, and society. In addition, STVP disseminates research
and teaching knowledge throughout the world.
http://stvp.stanford.edu
Winter ‘06:Outstanding Juniors,
Seniors & Coterms Apply To Be “Mayfield Fellows”
Spring ‘06:Students Learn
Structure & Methods
of Start-ups
Students Seek PaidAssignments
at High Tech Start-upCompanies
Summer ‘06Leverage the Power of Real World,
Hands-On Experience
Autumn ‘06:Bring Back
Experiences andLearn From Them As
a Group
3 Courses +Paid Summer
Internship
+ Mentors
Please Visit:
http://mfp.stanford.edu
Mayfield Fellows Program 2006Mayfield Fellows Program 2006Application Deadline is February 1Application Deadline is February 1
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MFP 2005 Before
MFP 2005 After
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A Way of Managing and Leading! It Can Be Taught!
"Entrepreneurship is a management style that involvespursuing opportunity without regard to the resources
currently controlled. Entrepreneurs identifyopportunity, assemble required resources, implement a
practical action plan, and harvest the rewards in atimely, flexible way.“
“Any attempt at new business or new venture creation,such as self-employment, a new business organization,
or the expansion of an existing business, by anindividual, a team, or an established business.”
References: Various Including Harvard and Babson
What is Entrepreneurship?What is Entrepreneurship?
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What are Characteristics ofWhat are Characteristics ofHigh-Technology Businesses?High-Technology Businesses?
• Examples include these categories:
–Information Sciences: computer software and systems, datanetworking, electronic commerce and information services,telecommunications and wireless communications, semiconductors andequipment, advanced materials and specialty chemicals, and consumerproducts and services.
–Life Sciences: biotechnology, traditional pharmaceutical products,health care services, medical information systems, medical devices, andmedical equipment.
• Advancements can be either:
–Revolutionary: “Brave New World”
–Evolutionary: “Faster Better Cheaper”
Reference: Adrian Ryans
“Rapid advances in technology that allow new venturesand competitors to offer new functionality or applications
to help customers solve existing or latent problems.”
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Stanford EngineeringStanford Engineering’’s Researchs Research
Bioengineering
Information Technologyand Photonics
Nanotechnology
Environment and Energy
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A Closer Look at High-TechA Closer Look at High-TechEntrepreneurshipEntrepreneurship
• Key driver of global economic growth
• Creates huge businesses with large impact
• Different process than starting a small business
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© 2003 Mark P. Rice, Babson
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Course Calendar, Methods & MaterialsCourse Calendar, Methods & Materials
• Course Website(www.stanford.edu/class/engr145)
– Course Description and Policies
– Course Calendar and Schedule
– All Assignments
– Key Email Lists
• Reading
– Technology Entrepreneurship by Dorf and Byers
– The Monk and the Riddle by Komisar
– HBS Online (course reader)
– Links and Session Handouts
• Regular Sessions and Workshops (T and Th)
• Books on Reserve at the Engineering Library
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The Course The Course ‘‘By the NumbersBy the Numbers’’
• 4 Units of Credit
• 10 Teachers (2 Instructors, 2 TAs, and 6 Special Guests)
• 20 Regular Sessions and 3 Special Workshops
• 2 Textbooks plus Web-based Readings and Short Videos
• 10 Case Studies
• 1 Team Project
• 1 Individual Final Exam
• Grading
– As an Individual (50% of Total Grade):
» Participation and Email Assignments (25%)
» Final Exam (25%)
– As a Team (50% of Total Grade):
» Opportunity Analysis Project (30%)
» Online Email Assignments (20%)
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Four Ways of Teaching & LearningFour Ways of Teaching & LearningHigh-Technology EntrepreneurshipHigh-Technology Entrepreneurship
1. Critical thinking through case studies.
2. Teaching of basic terminology and
concepts through the text and workshops.
3. Teamwork through the opportunity
analysis project.
4. Career planning through the personal
business plan.
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DFJ Entrepreneurial ThoughtDFJ Entrepreneurial ThoughtLeaders Seminar SeriesLeaders Seminar SeriesWednesdays, 4:30PMWednesdays, 4:30PM
Terman Terman Auditorium or OnlineAuditorium or Online(http://(http://etletl..stanfordstanford..eduedu))
18-Jan Tom Byers (who?)
25-Jan Jeff Beaver & Bobby Beaver (Co-founders, Zazzle)
1-Feb Janice Fraser (CEO, Adaptive Path)
8-Feb Kim Popovitz (Founder & President, Genomic Health)
15-Feb Chong-Moon Lee (Founder,AmBex Venture Group)
22-Feb Michael Goldberg (Mohr Davidow Ventures)
1-Mar Carol Bartz (CEO, Autodesk)
8-Mar Larry Sonsini (Partner, Wilson Sonsini Goodrich Rosati)
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BreakBreak
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The Success Formula for E145The Success Formula for E145(Our (Our ““CultureCulture””))
• Show up on time (with cell phones and other stuffturned way up loud please).
• Be nice to people (e.g., constructive comments only,listen carefully and only one speaker).
• Do what you say you will do and deliver more than youpromise (both in class and out).
• Do it with energy and passion.
The teaching team commits to these items;we respectfully ask you to do the same.
Reference: JM Perry
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A A ““To DoTo Do”” List for This Week List for This Week
1. Read www.stanford.edu/class/e145 and follow
directions to prepare for Session #2 on Thursday.
2. Check E145 web site on Wednesday for admission
info … attendance is mandatory on Thursday …
waitlist (if any) will be cleared at beginning of class.
3. Form partial or full teams by Thursday …
do the best you can … OK to just come “alone”.
