entrepreneurial personality stack
1) Conceptual Ability
2) creativity
3) vision
4) can handle failures
5) calculated risk taking
6) constructive paranoia
7) innovative behaviour
additional traits
1) fire in the belly
2) luck
smb characteristics
1) < 250 employees
2) <43 M on balance sheet (50 revenue)
3) <25% of share controlled by another company
innovative gap
between academic research and industrial application
top 5 high income
1) CH
2) Swedden
3) USA
4) Netherlands
5) UK
patent cooperation treaty
international patent law treaty provinding a unified procedure for filling patent application in/for each of its contracting states
innovation
invetion+ diffusion
successful venture
innovation+team+money
business plan length
20 pages
summary length
1-2 pages
constitution of ventures
1) sole proprietorship
2) Gmbh, LLC
3) joint stock corporation
avarage pivot to reach profitability
2.3
keys for VC
1) passion
2) iterate,execute,learn, no overthink
3) be humble and avoid unnecessary risks
4) create corporate culture
5) manage cash flow
tech startup
can create 7 times more jobs than a conventional one
highest innovation level worldwide
1) ch
2) USA
3) sweden
funding gap
angels and VCs
smb all over the world
more than 99%
creative distruction
transformation that leads to radical innovation
government activities to promote startup
1) Policy
2) Fiscal/tax incentives
3) support and development programs
4) state-sponsored venture funds
market attractiveness
market potential+ market growth+ competitive situation
sales
only activity that generates income
research to market
1) basic research
2) technology development
3) product development
4) market introduction
Entrepreneurial ventures serve as
bridge between an invention and the marketplace
Academic spin-offs are often
the only possibility for Technology Transfer when no licensor available
Academic spin-offs are an especially efficient way of Technology Transfer
the inventor/researcher knowhow remains an integrated part of the venture.
Start-ups are especially flexible since
they are free from legacies and company internal boundaries
Strong social support for entrepreneurial ventures
Honorable ▪ Prestigious ▪ “Classless”
▪ Genderless
entrepreneurial activity drives both
destructive and constructive results
minimum viable product (MVP)
product with just enough features to satisfy early customers and provide feedback for future product development
Lean start up
experimentation before budgeting and forecasting
Business Plan
1) Identifies the commercial opportunity
2) defines business objectives
3) describes the strategic plan and detailed implementation steps
4) documents that the opportunity is in alignment with resources, people and context
5) proof that you have understood your markets, competition and how to monetize
6) sales, communication, planning and
measurement tool
7) set priorities and responsabilities