E145-02 Slide #1

Welcome to E145/STS173“Introduction to

High-Technology Entrepreneurship”

• Introductions and Course Objectives

• Course Calendar, Key Deliverables,Methods and Materials

• A Word about STVP

• High-Technology Entrepreneurship Defined

• Break

• Next Steps and Expectations

Professor Tom Byerswww.stanford.edu/class/e145

E145-02 Slide #2

Introductions and Backgrounds

• Teaching Assistants (Victor, Mike and Jan)

• Special Guest Instructor: Randy Komisar

• Your Turn

• Your Professor …

E145-02 Slide #3

Who Is This Prof. Tom Byers Anyway?

1980’s 1990’s

Executive @

Founder @ Slate

Ph.D. @

Educator @ Stanford

Board of Directors Member

E145-02 Slide #4

A Little History of E145/STS173and Our 2002 Objectives

• Understand entrepreneurial leadership and itsprocess in high technology industries. Dispelcommon myths and misconceptions.

• Learn skills important for 21st centurytechnology leaders (more on next slide).

• Stimulate continuous learning and examinenext steps regarding entrepreneurship (whichis our mission at STVP).

E145-02 Slide #5

Seven Important Skills for Tomorrow’sEntrepreneurial Leaders Stressed in E145

• Creativity and Opportunity Evaluation

• Real-time Strategy and Decision Making

• Comfort with Change and Chaos

• Basics of Start-Up Finance and Accounting

• Teamwork

• Evangelism, Selling, Negotiation, andMotivation thru Influence and Persuasion

• Oral and Written Communication

E145-02 Slide #6

E145’s Calendar, Methods & Materials• The E145 Web Site at www.stanford.edu/class/e145

– Course Description and Policies– Course Calendar (see handout)– All Assignments

• Required and Skim-Only Reading– The Entrepreneurial Venture from HBS– Komisar’s The Monk and the Riddle– Course Reader Packet– Links– Session Overheads and Handouts

• Regular Sessions, Workshops, and MS&E 472• Key Email Lists

– e145-class@lists (all members of the course)– e145-staff@lists (teaching team only)– e145-homework@lists (teaching team only … use for homework only)

• Books on Reserve at the Engineering Library in Terman

E145-02 Slide #7

Another View: E145 by the Numbers• 60 Students and 12 Members of the Teaching Team (4 Core and

7 Guests)• 20 Regular Sessions and 4 Workshops• ~30 Chapters in 2 Textbooks (Required vs. Skim-Only)

Plus the Course Reader and Web-based Readings• 8 Cases• School of Engineering Student Evaluations of E145• 1 Major Team Project and 1 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):» Online Assignments (20%)» Opportunity Analysis Project Presentation (20%) and Report (10%)

E145-02 Slide #8

Understanding the StanfordTechnology Ventures Program

(The Eship Center in Engineering)

• Can entrepreneurship be taught?

• If so, does it really belong in anyengineering or science school’s curriculum?

• If so, what kind of approach is best (e.g.,what kind of courses, programs, andresearch agendas)?

http://stvp.stanford.edu

E145-02 Slide #9

Common question: Can entrepreneurship be taught?

Asking the wrong question! The right question is….

Can Entrepreneurs Learn?

References: Ray Smilor

E145-02 Slide #10

Vision

u Create and deliver curricula for engineering education

u Support research efforts related to high-tech entrepreneurship

u Disseminate results to accelerate similar efforts worldwide

Our mission is to accelerate high-technologyentrepreneurship education and researchacross top engineering schools worldwide.

Goals

E145-02 Slide #11

“The pursuit of opportunity without“The pursuit of opportunity without regard to resources controlled.” regard to resources controlled.”

A Way of Managing and A Way of Managing and Leading!!

“A way of thinking and acting that is opportunity“A way of thinking and acting that is opportunityobsessed, holistic in approach and leadershipobsessed, holistic in approach and leadership

balanced - for the purpose of wealth creation.”balanced - for the purpose of wealth creation.”

“Any attempt at new business or new venture creation,“Any attempt at new business or new venture creation,such as self-employment, a new business organization, orsuch as self-employment, a new business organization, orthe expansion of an existing business, by an individual, athe expansion of an existing business, by an individual, a

team, or an established business.”team, or an established business.”

References: Harvard Business School and Babson College

What is Entrepreneurship?

E145-02 Slide #12

A Closer Look at a Special Kind ofEntrepreneurship: “High-Technology”

• Ultimate driver of economic growth globally

• Creates huge businesses with large impact

• Different process than starting a small business

E145-02 Slide #13

Break

E145-02 Slide #14

A “To Do” List for This Week

• Read www.stanford.edu/class/e145

• Prepare for Session #2 on Thursday

• Check web site on Wednesday for admission

info … attendance is mandatory on Thursday

… waitlist will be cleared at beginning of class

• Form partial (or full?) teams by Thursday

E145-02 Slide #15

“The Success Formula” for E145

• Show up on time (with cell phones and pagersoff please).

• Be nice to people (e.g., constructive commentsonly, listen carefully and only one speaker).

• Do what you say you will do and deliver morethan 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