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Welcome to Engineering 145Welcome to Engineering 145Technology EntrepreneurshipTechnology EntrepreneurshipSession 1: Course OverviewSession 1: Course Overview

Professors Tom Byers and Randy KomisarStanford University

Copyright © 2007 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: Stay Only If You Wish to Continue in 2007

6. Next Steps for Admission and Our Expectations

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• Teaching Assistants

• Your Turn

• Your Professors …

Introduction and BackgroundsIntroduction and Backgrounds

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CourseCourseAssistants:Assistants:

Eric Carr andEric Carr andJason DavisJason Davis

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Your Turn Your Turn …… Show of Hands Show of Hands1. What is your declared (primary) major of study?

• EE & CS? Mgmt Sci & Engin? Other Engineering?

Humanities & Science?

2. What year are you currently in at Stanford?

• Soph or Junior? Senior or Coterm?

3. What geographical area do you call home (time zone)?

• Eastern? Central or Mountain? Pacific? Other/Intl?

4. Have you been involved somehow in a start-up …

• Yes? No?

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Who is Randy Who is Randy ““ThatThat’’s Mys MyMotorcycle OutsideMotorcycle Outside”” KomisarKomisar??

• 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 Consulting

Professor @ Stanford

• Venture Capitalist: Kleiner Perkins …

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Then…

Now…

Who is Tom Who is Tom ““DonDon’’t Judge Met Judge Me‘‘Cause ICause I’’m a Cal Weenie!m a Cal Weenie!”” Byers? Byers?

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Our Course ObjectivesOur Course Objectives

1. Understand entrepreneurial leadership and itsprocess in high-technology industries; dispelcommon myths and misconceptions.

2. Learn skills important for 21st centurytechnology leaders.

3. Stimulate continuous learning and personalreflection regarding entrepreneurship and yourfuture.

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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

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Winter ‘07:Outstanding Juniors,

Seniors & Coterms Apply To Be “Mayfield Fellows”

Spring ‘07:Students Learn

Structure & Methods

of Start-ups

Students Seek PaidAssignments

at High Tech Start-upCompanies

Summer ‘07Leverage the Power of Real World,

Hands-On Experience

Autumn ‘07:Bring Back

Experiences andLearn From Them As

a Group

3 Courses +Paid Summer

Internship

+ Mentors

Please Visit:

http://mfp.stanford.edu

Mayfield Fellows Program 2007Mayfield Fellows Program 2007Application Deadline is February 1Application Deadline is February 1

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Before MFP

After MFP

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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 Enterprises?High-Technology Enterprises?

• Examples include these categories:

–Information Sciences: computer software and systems, datanetworking, electronic commerce and information services,telecommunications and wireless communications,semiconductors and equipment, advanced materials and specialtychemicals, and consumer products and services.

–Life Sciences: biotechnology, traditional pharmaceuticalproducts, health care services, medical information systems,medical devices, and medical equipment.

–Energy and Environment

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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StanfordStanford’’s Technology Researchs Technology 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 type of process to starting a small

business

• Advancements can be either revolutionary (“brave

new world”) or evolutionary (“faster, better,

cheaper”)

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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, 2e

– 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 (ETL) Seminar SeriesLeaders (ETL) Seminar Series

Wednesdays, 4:30PMWednesdays, 4:30PMSkilling Skilling Auditorium or OnlineAuditorium or Online

((http://etl.stanford.eduhttp://etl.stanford.edu))

JAN 17 - Janice Roberts (Managing Director, Mayfield Fund)

JAN 24 - Tien Tzuo (Chief Strategy Officer, Salesforce.com)

JAN 31 - Ray Lane (Partner, KPCB) and Ron Bloom (Founder, Podshow)

FEB 7 - Reid Hoffman (Founder, LinkedIn)

FEB 14 - Gregory Waldorf (CEO, eHarmony)

FEB 21 - Steve Burrill (Founder, Burrill & Co)

FEB 28 - Entrepreneurship Week Panel:

KR Sridhar (CEO, Bloom Energy) w/ Jeff Koseff (Stanford)

Kavita Ramdas (CEO, Global Fund for Women) w/ Chip Blacker (Stanford)

Brook Byers (General Partner, KPCB) w/ Paul Yock (Stanford)

MAR 7 - Ujjal Kohli (CEO, Rhythm NewMedia)

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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 so we can hear the coolringtones).

• Be nice to people except to Randy (e.g., constructivecomments 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 hereby commits to these core values;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”.