Welcome to E145/STS173 High-Technology Entrepreneurship Session 1 Course Overview Welcome to E145/STS173 High-Technology Entrepreneurship Session 1 Course Overview Professors Tom Byers and Randy Komisar Stanford University Copyright © 2004 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: Is this the right course for me? Agenda: Is this the right course for me? 1. Introductions and Course Objectives 2. Calendar, Key Deliverables, Methods & Materials 3. A Word about STVP (Entrepreneurship Center) 4. High-Technology Entrepreneurship Defined 5. Break 6. Next Steps for Admission and Some Expectations

Teaching Assistants Your Turn Your Professors … Introduction and Backgrounds

Who is Randy Komisar? 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), Entrepreneurship Evangelist, and now an Stanford Adjunct Professor!

1980’s Slate Stanford Who is Tom Byers? Board Member 1990’s2000’s

Our 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.

Seven Important Skills for Tomorrow’s 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

Course Calendar, Methods & Materials Course Website ( –Course Description and Policies –Course Calendar and Schedule –All Assignments Reading –Technology Entrepreneurship by Dorf and Byers –The Monk and the Riddle by Komisar –Course Reader Packet –Links and Session Handouts Regular Sessions, Workshops, and ETL Seminars Key Lists Books on Reserve at the Engineering Library

Course ‘By the Numbers’ 4 Units of Credit and 2 Sections of Equal Size and Content 12 Teachers (2 Instructors, 4 Tas, and 6 Guests) 20 Regular Sessions and 4 Special Workshops 2 Textbooks plus Web-based Readings and Short Videos 11 Detailed Case Studies of Actual Ventures 1 Team Term Project and 1 Individual Final Exam Grading –As an Individual (50% of Total Grade): »Participation and Assignments (20%) + Personal Business Plan (5%) »Final Exam (25%) –As a Team (50% of Total Grade): »Opportunity Analysis Project Presentation (20%) and Report (10%) »Online Assignments (20%)

The Stanford Technology Ventures Program is dedicated to accelerating high-technology entrepreneurship education and creating scholarly research on technology-based firms. STVP believes that engineers and scientists need entrepreneurial skills 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.

What are Characteristics of High-Technology Businesses? “Rapid advances in technology that allow new ventures and competitors to offer new functionality or applications to help customers solve existing or latent problems.” Examples include these categories: –Information Sciences: computer software and systems, data networking, electronic commerce and information services, telecommunications and wireless communications, semiconductors and equipment, advanced materials and specialty chemicals, and consumer products and services. –Life Sciences: biotechnology, traditional pharmaceutical products, health care services, medical information systems, medical devices, and medical equipment. Advancements can be either: –Revolutionary: “Brave New World” –Evolutionary: “Faster Better Cheaper” Reference: Adrian Ryans

A Way of Managing and Leading! It Can Be Taught! "Entrepreneurship is a management style that involves pursuing opportunity without regard to the resources currently controlled. Entrepreneurs identify opportunity, assemble required resources, implement a practical action plan, and harvest the rewards in a timely, 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 an individual, a team, or an established business.” References: Various Including Harvard and Babson What is Entrepreneurship?

A Closer Look at High- Technology Entrepreneurship Key driver of global economic growth Creates huge businesses with large impact Different process than starting a small business

Four Ways of Teaching/Learning High-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.

The Success Formula for E145 Show up on time (with cell phones and pagers off please). Be nice to people (e.g., constructive comments only, listen carefully and only one speaker). Do what you say you will do and deliver more than you promise (both in class and out). Do it with energy and passion. The teaching team commits to these items; we respectfully ask you to do the same. Reference: JM Perry