Entrepreneurship for Teaching Faculty of UOL an introduction

Usman Javaid Malik Assistant Director (QEC)

Education

Work (LinkedIn: http://www.linkedin.com/in/usmanjmalik)

Experience

Failures

About me

entrepreneur noun \n-tr-p(r)-nr, -n(y)ur\ One who organizes, manages, and assumes the risks of a business or enterprise (Mariam Webster)

Entrepreneurship: Putting to use an individual's talent in the resources in which he is available with; and expanding these resources in the future so that one can get individual as well as general i.e. social success (Wikipedia)

Who is an Entrepreneur?

Discipline

Confidence

Open Minded

Self Starter

Competitive

Creativity

Determination

Attributes of an Entrepreneur

Determination

People skills

Strong work ethic

Passion

Zest

Foresight

Luck!

Entrepreneurship is not necessarily innovation

Most often just a good remix!

Reinventing the wheel

Albert Einstein: I wish to do something Great and Wonderful, but I must start by doing the little things like they were Great and Wonderful

Pace of ingenuity?

1. Contemplate: contemplate /kntmplt/ Look at thoughtfully or think about.

2. Finding your niche 3. Finding the opportunity 4. Feasibility 5. Identifying the market 6. Uniqueness (USP) 7. Strategy

Steps to starting up!

8. Finding Competitive Advantage

9. Product/Service differentiation

10. Operations Management

11. Branding

12. Legal

13. EXIT!

EXTRA: Patrick Geddes, a Scottish biologist, sociologist, philanthropist and pioneering town planner.

Finding opportunities in local problems Engineering? Medicine? Business? Law? Media? Computer Sciences? Social Sciences?

Think Global, Act Local

Got a bright idea? proof of concept

Can translate it to a real product/service? prototyping

Resources? Capital

Getting acceptance Early adopters

Spin-off!

Your final year project?

Your students final year project?

Universitys alumni

Universitys other faculty/staff across the departments

University funding

Limited Resources!

Conflict of Academic with Commercial interests

Morality

Ethics

Legal

Risks

Biotech: Crucell specializes in vaccines and antibodies. Spin-off from Leiden University, Netherlands. 329.8 million (2010)

Electrical: Plastic Logic spin-off from Cambridge University's Cavendish Laboratory. Specializes in polymer transistors and plastic electronics. (2011 $ 280m funding)

Software: Visual Apps by LUMS, Lahore www.eyedeus.com / www.groopic.com

Real life Examples

In our neighborhood

STEP: Science & Technology Entrepreneurs Park

Source: http://it4b.icsti.ru/1000ventures/a/countries/india/TBI_20System_20in_20India_20-_20by_20Menon.doc

SL NO STEP LOCATION NUMBER OF UNITS TECHNOLOGIES

DEVELOPED

EMPLOYMENT

1

2

3

4

5

6

7

8

9

10

11

12

13

Mysore

Trichy

Kharagpur

Ranchi

Pune

Roorkee

Ludhiana

Kanpur

Mumbai

Bhopal

Suratkal

Coimbatore

Patiala

95

106

31

60

25

14

95

31

45

46

50

6

1

17

26

59

60

60

40

53

10

0

8

4

3

0

800

1100

313

695

160

150

680

200

200

148

450

18

5

Thank you for your interest.

QUESTIONS?