1. Innovation & Entrepreneurship Building Technology Ventures

2. ABRAHAM LINCOLN KARL MARX CHARLES DARWIN WALL STREET FLORENCE NIGHTINGALE How to identify a Successful Technology Innovator ? One who possesses: Great Technology Skills Great Track Record Great Product Idea Great Backers RIGHT ? WRONG

3. SEGWAY : Learning From Failure Dean Kamen: Great Innovator Personified Segway : Jan 2001, the buzz around the world Anticipated to sell 10000 units per week (to date have managed to sell 30,000 units around the world) Still hanging in there but definitely not the innovation that changed the world

4. So what went wrong? Focused on Invention rather than Innovation Invention focuses on Technical Superiority while Innovation is an Iterative process Paul Graham feels It was too easy for them they were too successful in raising money They should have gradually grown the product by listening to their customers

5. What Else was wrong? Expectations were too high Being a product not a solution Inventors tend to think of a product and then go about finding a market for it Some simple questions were not asked Where should I park it? How do I charge the battery ? Sidewalks are designed for pedestrians and roads for cars

6. And Some more reasons No Clear need of target market Assumed FEDEX, US POST, Police Dept will Buy At 5000$, no compelling need for anyone Regulatory issues with countries banning it on sidewalks as well as roads User training needed,how do you do it for product sold on web?

7. but most importantly... Dean Kamen had experience of building products but not building companies.

8. So how do you innovate for profit and growth ? By profiling your product Start by asking a Simple Question

9. What customers are really buying ? Pleasure giving Problem solving Want satisfying

10. What is feature driven innovation? Identify Measure Benchmark Analyze LETS DO A SMALL EXERCISE