1. Lecture 2. Entrepreneurship and entrepreneur
Stepan Vladimirovich Khachin
Head of Engineering Entrepreneurship Department
Tomsk Polytechnic University

2. Entrepreneur
A person who admit all innovations using funding and business grip to convert innovations into economic goods.
Such actions could lead to formation of a new organizations or help to ”reanimate” old-formed companies.
The most obvious form of entrepreneurship is a launch of a new companies. However, lately, term was extended and how includes each of social and political forms of entrepreneurial activity.
(Source: Wikipedia)

3. How hi-tech entrepreneur looks like?
Cohesive
Leader
Eager to actions (with analysis)
Swift
Humble. Looking for a trainings and attend them. Accept and trying to overcome his weak spots
Want to distinguish himself and knew it (but not forgetful)
Pragmatic. Accept a compromise (in order to advance)
Cheer about other’s victories (not jealous)
Solve client’s problems (not be ruled by need for money or technologies к деньгами или технологиям).
Be able to engage world-class talents
(Source: Ken Morse, MIT Entrepreneurship Center)

4. For entrepreneurs: Life is not a direct path!
Traditional
Entrepreneurial

5. Modern entrepreneur should be universal
Create a team
Enlarge capital form original actions
Dominate on local market
Organize additional actions aim at international expansion
Initiate international sales
Study international production, research and development
Year 1
Year 10
Traditional
New venture organization
Creation of a team that consists of world-leading experts
Attraction of resources for global business support
Global operations creation
Sales organization on most promising markets
«Entrepreneurs don’t automatically buy raw materials from nearby suppliers or set up factories close to their headquarters. They hunt for the planet’s best manufacturing locations because political and economic barriers have fallen and vast quantities of information are at their fingertips. They also scout for talent across the globe, tap investors wherever they may be located, and learn to manage operations from a distance—the moment they go into business».
Daniel Isenberg
Professor of Entrepreneurship Practice, Babson Executive Education
Year 1
Entrepreneurial

6. Key success factors in entrepreneurship
Believe that new venture could be successful:
Parents that are entrepreneurs
Contacts with successful entrepreneurs
Exposure of successful stories and examples
Reception of practical, real experience before, during and after university education.
Try to be unusual and remarkable.
Be able take the risk and to be ready for misfortunes.
Have a wish to leave big company.
Live in society that accept abovementioned factors as normal and not a strange exception from rules.
Entrepreneurs asked themselves: “What do we really want to do?”
We want to produce world-leading product and it’s not important what product is
We want to take pleasure in doing it.
We want to take root in that business sphere or segment that is in beginning stage.
Source: Ken Morse, MIT Entrepreneurship Center

7. Entrepreneurship success Creation of right matches
Investor’s need
Entrepreneurial opportunities
Client’s needs
Creation of customers
Acquisition of opportunities
Success!
Creation of
investors
© Vadim Kotelnikov
1000ventures.com

8. New product development stages
Preliminary marketing research
Patenting
Specification of technical design specification
Contact with consumers
Negotiations with strategic partners
Authorization documents
Test of patentability
Marketing research
IP protection
Business plan
Pilot sales
Commercialization
Idea
R&D
Product augmentation
Pilot rum
Applied research
Output of lab example
Launch of mass production
Fundamental research

9. The ladder
Scientists
Developer
Entrepreneur
Manager
Investor

10. Basic participants of innovation project
Author of the project
Manager of the project
R&D team
Economical and managerial team
Investors
Co-executives

11. Author of the project
Author of a key idea of project, his preliminary validity and proposals for implementation

12. Manager of the project
Legal entity or natural person that are delegated to manage project