Lecture 2 Let’s talk about entrepreneurship http://aiti.mit.edu

I had a dream last night……

Guess who appeared in my dream…. Anyone want to guess what he said?

You are no longer students. … You are entrepreneurs!

So I put on my entrepreneur hat and had a great idea

So I put on my entrepreneur hat and had a great idea

I like cricket….esp India-SL matches

But I don’t know how to play it

There must be others like me There must be others like me. What if I started a chain of schools in SL for girls to learn to play cricket

Do you think this is this a good business idea?

Do you think this is this a good business idea? What is the market - Size?

Do you think this is this a good business idea? What is the market Size? Determines revenue potential Growth?

Do you think this is this a good business idea? What is the market Size? Determines maximimum revenue potential and scale Growth? Determines long term revenue potential Market share? Determines near term revenue potential

An entrepreneur makes things that LOTS OF people WANT TO USE. In short… (Read this ten times)

Break Time Take a 5 minute break.

Let’s Talk About Our Problems: Part 1 Count off 1 to 4  Form Groups In 10 Minutes: Each person—Pick one idea from your problems list. Try to convince the group to pick your problem to solve by designing a mobile app. Each group—Discuss and unanimously select one problem to solve. You will have to get investor funding; select carefully. HOW PERSUASIVE CAN YOU BE?

Let’s Talk About Our Problems: Part 2 Do you know what crowdfunding is? Setup—Each person in the room has 10,000 Rs. Team Goal—Crowdfund your idea. In 15 Minutes—Prepare a 3 min. pitch on why your idea deserves our money. Winner—Team with the most money REMEMBER, CREATIVITY WORKS WONDERS

Let’s Hear About Your Problems Before Presentations—Everyone move to last 2 rows While Presenting—Be loud! If people can’t hear you, you won’t get any money, so be clear, loud and effective. After Presenting —1 min for questions SHOW US WHAT YOU’VE GOT

Who gets the money? Goal—Decide how to invest your 10,000 Rs. to max your return. Time—5min How—On a piece of paper Write how much you will give to each team (anonymously) Rules—Invest all, unequally All investees have to all get unequal amounts Feel free to give zero to any ideas that you think do not have potential to multiply your wealth You have to invest the full 10,000 Rs. THINK LIKE AN INVESTOR

APPLAUSE to our first entrepreneurs And the winner is………. APPLAUSE to our first entrepreneurs

Let’s talk about the pitches Why do you think they won?

Entrepreneurship Homework Complete Session Surveys Sent via email; fill out today Select Top Problems Compiled list sent via email this morning Check off the 25 most compelling Top problems and names to be shared Friday Prepare for a Discussion You are an investor with one lakh Rs. You want to invest in a company Which one? How do you decide? Create list of criteria for investing. Be ready to discuss your criteria tomorrow

Tomorrow’s Schedule 9am-12pm: Entrepreneurship Session 12pm-1pm: Lunch 1pm onward: Technical Session