Silicon Peel Meetup #7: Business Innovation

www.SiliconPeel.comLinkedIN/SiliconPeel (http://linkd.in/spligroup)@SiliconPeel

• Welcome• Announcements, Updates,

Intros• Meetup #7: Business

Innovation» Xerox» Prodigy Game» Startup Success Funnel» Mentorship Program» Demo-Qriffic

• Closing Remarks• Prize Giveaway• Networking

Agenda

MEETUP#7 FACILITATOR

Richard KunBDM at RDP Associates

Helping CompaniesInnovate

Tech

Entrepreneurs

Business Professionals

Tech Enthusiasts

Industry Leaders

YOU

Community

Program Director Leadership Team

Silicon Peel and the RIC Centre

Supporting entrepreneurs in Peel Region

SPEAKER

Paul SmithVP and Centre

Manager of the Xerox Research Centre of

Canada

How to Evaluate your New IdeasPaul SmithSeptember 19, 2013

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Xerox research global footprint

Xerox Research Centre Europe

Xerox Research Centre of Canada

Fuji Xerox Japan

Palo Alto Research Center

Xerox Research Center Webster Xerox Research Centre India

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Xerox Research Centre of Canada

Technical Highlights• 35 year history of taking materials from lab to market• 1000+ scientific publications• 1500+ patents

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Capture Evaluate DecisionAssess

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Invention Disclosure

Capturing the Idea

Problem to be solved

Abstract of the Invention

Reduction to Practice?

Protectable – Trade secret?

Is this already in the public domain?

How to profit from the invention?

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Evaluating the IdeaDefine / Refine the product or concept

Customer Feedback“If I had asked people what they wanted, they would have said a faster horse” Henry Ford

Identify “Enabling Technology Advances” (ETA’s)-The showstoppers - critical aspects of the technology that must be proven to ensure success-Need to be able to measure the ETA’s -Once ETA’s are understood, required resources are known

OVERALL GOAL : Generate enough information on the critical parameters to enable an informed /

unbiased decision

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Resourcing-Xerox Technology Incubator Network (XTIN)-CO-OP Student-NSERC Postdoctoral Position-University Interaction (fundamental research)-Skunk Works?-The 10 – 15% time opportunity

Evaluating the Idea - Resources

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The Home Run – Avoiding the Approach!

Use design of experiments to ensure a scientific approach (Design for Lean Six Sigma)

Need to define the latitude of the idea

Single points are not enough to claim success

Note: Joe Carter scored the home run, but it was the people who got the singles onto base that gave the winning runs. Just a home run would have tied the game 6 - 6!

Evaluating the Idea – setting the ground rules

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Evaluating the Idea

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Evaluating the Idea

The TRL Process

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The Decision“The greatest barrier to success is the fear of failure”Sven Goran Eriksson

Team success is based on the team getting the data needed to make a decision in the time period – NOT on whether the project moves on or stops

Creates a different way of thinking about the project – a decision to stop is not related to failure.

Celebrate the decision whether Go or No Go based on the process taken and the team developing the necessary data.

OVERALL – Make a fast, accurate, results based decision

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Capture Evaluate DecisionAssess

Celebrate the way the team worked

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“The best way to predict the future is to invent it”

Alan Kay

Q&A

SPEAKER

Rohan MahimkerCo-Founder and

Co-CEO of Prodigy Game

SPEAKER

Alex PetersCo-Founder and

Co-CEO of Prodigy Game

Agenda

• Our Story– How we started

• Overcoming common challenges• Where we are now• Questions/Comments

The Challenge

* Source: Michael Fullan, Stratosphere

The Challenge

Human Tutor Software Tutor

• Understands how child is feeling• Costs $45-$65/hour

• Only responds to right or wrong answers• Costs $12/month

The Solution

The Solution

Getting Started

• Starting is the hardest part– Get your first “win”

• Schedule regular meetings• Define your MVP

– Set deadlines

Alpha Customers

Building a Team

• Finding the right people is CRITICAL

Stories:• Founding Team• Hiring our first employee• 3 Hiring criteria

Gaining Traction

• Build strong relationships with your early customers - they will refer you to others

Stories:• First Principal in Hamilton

Focus

• Most startups only have the capacity to focus on one primary objective at a time

Stories:• Huge list of marketing activities• Schools as a primary channel

Where we are now

• Over 35,000 students in Ontario• $325K Gov. Grants + $90k Industry Support +

Friends and Family equity/debt• Dragons Den, The Pitch, Globe and Mail, etc.

Why We’re Excited

• Next Steps – 150,000 kids by Jan 2014• Potential to transform a generation

Questions? Comments?

Q&A

SILICON PEEL LEADER

Steven CoxManaging Director of Strategic Innovation

Works

Startup Success Funnel

Strategic Innovation Works

Funnel Master: Steven CoxMany Hats• Electrical Engineer• Project Leader• Entrepreneur• Business Consultant• Investor

Many Sectors• Automotive• Mining• Firmware/Software• Biotechnology• Video Production• Clean Tech• Food & Catering• Real Estate

My focus: Results and GrowthStartup Success Funnel

Many Countries• Australia• USA• Canada• Japan, Germany, UK, Israel

Driving Results

Corporations manage projects

Why? To drive resultsthat

create value!

Startup Success Funnel

How do they drive results?Process• Milestones• Schedule• Visibility

Oversight• Goals• Sense of Urgency• Support• Celebrate Progress

Results

Startup Success Funnel

But what can emerging companies do?

Small!

Isolated!

Invisible!

Scarce resources!

Limited bandwidth!

Startup Success Funnel

Use the Si Peel Startup Funnel! For Investment

Make your success visible Create a visible track record

For Progress Peer support Public goals

To Share Best practices Challenges Wins

Results

Startup Success Funnel

Make your success visible!

Signup now!Startup Success Funnel

New Venture Phases & Milestones

Startup Success Funnel

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0 Ideas 1 Discovery 2 Validation 3 Efficiency 4 Scale

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Startup Success Funnel

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on!!

!

Next Steps

• Sign up!

• Next month:– Introduce new participants– New Venture Phases and Milestones– Funnel time!

Startup Success Funnel

Startup Success Funnel

Q&A

SILICON PEEL LEADER

Cathleen MacDonaldProducer at

Motion Picture Enterprises Inc.

Mentoring Program

Mentoring Program

• What it is

• Why participate

• How to join

Mentoring Program

MENTORS• Raise your profile as a

respected leader.• Develop advisory skills.• Expand your business

network.• Contribute to the business

community.• Make a difference.

MENTEES• Get guidance and support.• Develop skills.• Expand your business

network.• Increase your chances of

success.• Gain confidence and

experience.

Mentoring Program

Be a Mentor or Be a Mentee

Contact: Cathleen MacDonaldcjmdon@yahoo.ca

Q&A

SILICON PEEL PROGRAM DIRECTOR

Jason LavignePresident and

Founder of Black & White Logic

Thank you

XEROX

Sponsorship Opportunities

Are you interested in presenting a demo? http://www.siliconpeel.com/services/demo-me

Free to tryLimited quota

Afterwards$80/month ($800/yr)

Q&A

CLOSING REMARKS

Pam BanksExecutive Director,

RIC Centre

Thank you

John MacdonaldEntrepreneur-In-

Residence,RIC Centre

Networking