Identifying your opportunity, Cory Hallam Director of CITE

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2011 Technology Entrepreneurship
Boot Camp
Sponsored by Jackson Walker
Dr. Cory R. A. Hallam
Director
UTSA Center for Innovation and Technology
Entrepreneurship
http://entrepreneur.utsa.edu
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
1
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Technology Entrepreneurship
• Technology
Entrepreneurship is a
major driver of our
economy and is
growing in San Antonio
U.S. Job Creation by Firm Size
< 100
100 - 499
500+
UTSA Colleges of
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CITE BootCamp January 2011
2
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So Let’s Play Spot the
Entrepreneur
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CITE BootCamp January 2011
Slide 3
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OK, That was easy – let’s make it a little harder
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4
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A) Oprah
B) Richard
C) Bill
D) Crazy Scientist
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CITE BootCamp January 2011
5
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Don’t get confused
Between inventors and entrepreneurs
• Inventors create new technologies (ideas)
• Entrepreneurs create new business (money)
• Which one has the better ROI?
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UTSA Colleges of
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The former have these
CITE BootCamp January 2011
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UTSA Colleges of
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The latter have these
CITE BootCamp January 2011
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Do You Have The Courage?
CITE BootCamp January 2011
Slide 9
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The Growth “Rule of Ten”
•Who are my next 10 000 customers
•Who are my next 1 000 customers
•Who are my next 100 customers
•Who are my next 10 customers
• Who is my first customer
– Why will they pay me for my
product/service?
– How will I secure the deal?
– What resources do I need to
complete the transaction?
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Each growth by a factor of
ten requires the
entrepreneur to evaluate
how they will
do business
Without this vision forget
going into business
10
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Today’s Speakers
Dr. Cory Hallam, Director of CITE, Faculty of Business and Engineering
Stephanie Chandler, Partner, Jackson Walker LLP George Karutz, Partner,
Karutz Flavin Wells Investment Bankers Vin Montes, Founder and CEO,
UTSA Alum Rudy de la Garza, CEO First Dominion Financial, CFO IFS Sean
Crandall, Associate, Jackson Walker LLP, UTSA Alum Deb Bolner Prost, CEO
It’s 2 Cool, Ltd. and Prost Marketing, UTSA Alum
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Slide 11
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Agenda
8:30 - 9:00 a.m.
9:00 - 9:30 a.m.
Registration and Continental Breakfast
Welcome – Identifying your opportunity
- Cory Hallam Director of CITE
9:30 - 10:30 a.m. How to legally structure your company and raise the
cash – Stephanie Chandler, Partner, Jackson Walker LLP, and –
George Karutz, Partner, Karutz Flavin Wells Investment Bankers
10:30 - 10:45 a.m.
Break
10:45 - 12:00 p.m. Keynote, the NERD Beverage Story
12:00 - 12:30 p.m.
– Vin Montes, Founder
and CEO
Lunch
12:30 - 1:15 p.m. Your Weapons: Elevator Pitch, Slide Deck, and Business
Plan – Rudy de la Garza, CEO First Dominion Financial, CFO IFS
1:15 - 2:00 p.m. Intellectual Property: How to protect your idea and
brand – Sean Crandall, Associate, Jackson Walker LLP
2:00 - 2:15 p.m.
Break
2:15 - 3:00 p.m.
Marketing your new idea
– Deb Bolner Prost, CEO It’s 2 Cool, Ltd.
and Prost Marketing
3:00 - 3:30 p.m.
3:30 - 5:00 p.m.
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Boot Camp Wrap-Up
Teambuilding for the UTSA $100K competition
CITE BootCamp January 2011
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In the field of observation, chance only favors minds which are prepared.
Louis Pasteur
Summary
How can an entrepreneur identify and select a valuable opportunity?
The choice of an opportunity and the decision to act is a critical juncture
in the life of an entrepreneur. With the decision to act, the entrepreneur
prepares a business summary for the venture that is used to test the new
venture with potential investors, employees, and customers.
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Six steps to Acting as a Technology Entrepreneur
Identifying the Opportunity
Determining the Entrepreneur’s
capabilities and interests
Evaluating the opportunity
Deciding to act on the opportunity
or look elsewhere
Writing a summary of the concept
Testing the summary and the
concept with potential customers
and investors
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Opportunity Pull
Types of Opportunity:
Opportunity Pull:
the size of the opportunity attracts opportunity seekers to attempting
to exploit it.
Example:
A drug to mitigate the effect of Alzheimer’s disease.
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Opportunity Push
Types of Opportunity:
Capability Push:
a new technology or capability causes a search for
Example:
Digital Television
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new applications.
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9 Types of Opportunity
Nine Categories of Opportunity:
1. Increasing the value of a product or a service
2. New applications of existing means or technologies
3. Creating mass markets
4. Customization for individuals
5. Increasing reach
6. Managing the supply chain
7. Convergence of change
8. Process innovation
9. Increasing the scale of the firm
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Discontinuity as an Opportunity
Evaluating an Opportunity: Sources of Discontinuities
I. Society
Aging Society
Lifelong Education
Food and Population
Regulation
II. Technology
Innovation
Disruptive Technologies
New Knowledge
III. Markets
Deregulation
Supply Chain disruption
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Green Light for an Opportunity
Characteristics of
Entrepreneurial Teams
• Positive attitudes towards
independence,
achievement, and innovation
• Acceptance of risk and
demanding work effort
• Capabilities matching the
needs of the venture
• Willing to make the
commitment required
• Passionate about the
opportunity
Resources
• Capable of securing
access to the human,
financial, and physical
resources required by the
opportunity
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Characteristics of the Context
• Timeliness
• Favorable industry
conditions
• Future conditions appear
favorable
Characteristics of the Opportunity
• Novelty of the product
• Potential for sustainable longterm success
• Potential for good return on
investment
• Potential for a growing market
• Good risk-versus-reward
balance
• Customers are known and
responsive
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TIME TO GET STARTED
UTSA Center for Innovation and Technology Entrepreneurship (CITE)
UTSA Colleges of
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CITE BootCamp January 2011
Slide 20

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