E145/STS173 High-Technology Entrepreneurship Session 20 Class Summary Professors Tom Byers and Randy Komisar Stanford University Copyright © 2005 by the Board of Trustees of the Leland Stanford Junior University and Stanford Technology Ventures Program (STVP). This document may be reproduced for educational purposes only.

Agenda Recalling course objectives and methods Next steps in entrepreneurship education Giving thanks (and let’s start by thanking your teammates right now)

1:15 PM Section E145/STS173 2005

E145/STS173 2005 3:15 PM Section

Recall Our Three Course Objectives Understand entrepreneurial leadership and its process in high-technology industries. Dispel common myths and misconceptions. Learn skills important for 21st century technology leaders. Stimulate continuous learning and personal reflection regarding entrepreneurship and your future.

Examining the High-Tech Entrepreneurship Process

Major Concepts and Frameworks Sahlman's “concept of fit” model: People - Opportunity - Context - Deal Dorf and Byers’ “from opportunity to profitability” dynamics: Vision – Strategy - Execution Komisar's 3 Q's every VC wants to know: Big market + Winning strategy + Excellent team Kaplan's Silicon Valley game: Entrepreneurs trade stock for ideas, talent and capital. Moore’s technology adoption cycle and chasm model: Entrepreneurial marketing strategy must adapt over time. Byers and Komisar’s ABC’s of human and financial resources: Great teams and venture financing

Teaching and Learning High-Tech Entrepreneurship Critical thinking through case studies. Teaching of basic terminology and concepts through the text and workshops. Teamwork through the opportunity analysis project. Career planning through the personal business plan.

Important Skills for Tomorrow’s Entrepreneurial Leaders Creativity and Opportunity Evaluation Real-time Strategy and Decision Making Comfort with Change and Chaos Teamwork Evangelism, Selling, Negotiation, and Motivation through Influence and Persuasion Oral and Written Communication Basics of Start-Up Finance and Accounting

Next Steps in Entrepreneurship Education? Visit http://stvp.stanford.edu for more courses Visit free ETL lectures in person or view on the web at http://etl.stanford.edu Exploit video clips and other links at STVP Educators Corner at http://edcorner.stanford.edu Join any of the campus e-ship student clubs (BASES, ASES, Fusion, etc.) Attend campus and Silicon Valley events regarding entrepreneurship (subscribe to BASES Digest at http://bases.stanford.edu) If you move to another area, seek out or create your own learning opportunities Most of all … remember to think and act like an entrepreneur no matter where your career takes you!

Closing Comments By Randy and Special Thanks … To Our Distinguished Guests: Patricia, Nicole, Chi-Hua, and Bill To Our Teaching Assistants: Ben, Eric, Tricia, and Yosem To All of the Students in Both Sections!