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LeanLaunch
PAD@ SINGAPORE
Over the years, NUS has generated a significant
number of technological inventions.
As of end of 2011,
NUS has been granted 279 patents
by the US Patent Office
• The key challenge is to generate something valuable
from these inventions
- R&D: Turn Money into Knowledge
- Commercialization: Turn Knowledge into Money
• How can an invention be commercialized?
- License it? To Whom?
- Build a Product/Service? For Whom?
- Start a company to do it? To Do What?
A Technology Commercialization Plan is just a set of
hypotheses about how an invention can be turned into
end products/services that some customers will pay for
“Before we build a better mousetrap, we need to find out if
there is any mice out there.”
- Yogi Berra
THE IDEA OF “LEAN”
• Search/Generate Hypotheses about how you can
make money
• Test/Validate your Hypotheses, Fail Fast, Fail Early,
Pivot, Before You Commit Big $$
THE IDEA OF “LEAN”
How to NOT launch: Webvan
THE LEAN LAUNCHPAD
• Adopted by National Science Foundation since 2011.
• Taught at Stanford University, Georgia Tech, University of
Michigan, Berkeley, Columbia, NYU, Caltech, etc.
• Recently partnered with National Collegiate Inventors
and Innovators Association.
• Early evidence of success in SBIR Phase 1 funding –
approval rates
• 18% of teams who did not take the class
• 60% of teams who did take the class
THE LEAN LAUNCHPAD
Lean LaunchPad Pedagogy
• Hands-on experiential learning
• Flipped classroom
• Design Business Model
• Customer Discovery
• Agile Engineering
The LLP is Based On
• Business Model Generation
• The Lean Startup
• The Startup Owners Manual
BUSINESS MODEL CANVAS
13images by JAM
customer
segmentskey
partners
cost
structure
revenue
streams
channels
customer
relationships
key activities
key
resources
value
proposition
The Startup Canvas: 9 Guesses
Guess Guess
Guess
Guess
Guess
Guess
Guess
GuessGuess
LLP: Process to Change Guesses into Facts
Guess Guess
Guess
Guess
Guess
Guess
Guess
GuessGuess
BUSINESS MODEL CANVAS
CUSTOMER DISCOVERY
CUSTOMER DISCOVERY
RULE #1.
There Are No Facts Inside The Building,
So Get the Heck Outside
CUSTOMER DISCOVERY
Get out of the Building
CUSTOMER DISCOVERY
Test your hypothesis
MINIMUM VIABLE PRODUCT
CUSTOMER DISCOVERY
Pivot
Hypotheses>Design>Test>Insight Loop
Customer Discovery
Customer
Discovery
Phase 1AuthorHypothesis
Phase 2TestProblemHypothesis
Phase 4Verify, Iterate & Expand
Phase 3TestProductHypothesis
To Validation
TEAM FORMATION
Principal Investigator
Principal Investigator
MentorMentor
EntrepreneurEntrepreneurMBA StudentMBA Student
Entrepreneurial Lead
(Graduate / Post Doc)
Entrepreneurial Lead
(Graduate / Post Doc)
PRINCIPLE INVESTIGATOR (PI)
Characteristics
• Tenured Professor/Senior Researcher
• Has a strong portfolio of technologies or a new invention that he/she is keen to see commercialized
• May have patented their inventions, some may have secured POC grants or may even have started their companies
Role
• Creator of the science / technology or research that is within striking distance to product or process demonstration.
• Technical lead & visionary
• Commitment to participate in Initial Bootcamp and Final Presentation, plus time availability for some of the weekly consultation sessions
ENTREPRENEURIAL LEAD
Characteristics
• Post-doc or graduate student
• Relevant knowledge of the technology and a deep commitment to investigate the commercial landscape surrounding the innovation
• May be complemented by another student with entrepreneurial or business training (e.g. MBA)
Role
• Selected by the PI to support the transition of the technology, to leave the academic institution
• Expected to participate fully in the program, including the field interviews and weekly sessions
MENTOR
Characteristics
• An experienced business person with relevant domain expertise in the potential areas of application of the technology
• May be an experienced entrepreneur, investor or executive who have worked on transiting technology out of academic lab
Role
• Provide insight from business and industry
• The Mentor is expected to participate in most of the initial bootcamp to guide the team forward and to provide advice and inputs through the weekly sessions and to track their progress and have regular communication with the LLP@SG program director/faculty
TEAM SELECTION CRITIREA
• Priority for teams involving NUS PIs or start-up founders
• “Readiness” of Technology for Commercialization
• Interest & Commitments of PI
• Composition of Team Members already in place
• For non-NUS related teams, potential for collaboration with NUS
READING MATERIALS
• Business Model Generation: A Handbook for
Visionaries, Game Changers and Challengers
(Alexander Osterwalder, Yves Pigneur, 2010)
• The Startup Owner’s Manual, The Step-by-
Step Guide for Building a Great Company
(Steve Blank and Bob Dorf, 2012)
KEY LEARNING ACTIVITIES
• Intensive 2-day Initial Bootcamp (April 7 & 8) with Face-to-Face Lectures and Group Work
• Weekly Field Interviews (10 per week) and documentation of findings on online platform Launchpad Central
• Weekly Watching of Online Video Lectures (2-3 hours)
• Weekly Feedback Session & Group Work (2-3 hours)
• Regular Consultation with Mentors & Program Faculty
• Final intensive presentation & feedback sessions
(June 9)
Week No. Date Topic
1 7-8 April 2014 Business Model Canvas, Customer Segment,
Product Offering & Value Proposition;
1 10 April 2014 Customer Relationships Get/Keep/Grow &
Channels ; Interview techniques
2 17 April 2014 Revenue Models
3 24 April 2014 Key Activities & Key Resources
4 30 April 2014 Partnerships
5 8 May 2014 Cost & Financing Requirements
6 15 May 2014 Putting It Altogether
7 22 May 2014 Preparation of Plan
8 29 May 2014 Presentation Skills Training; Preparation for
Final Presentation
9 5 June 2014 “Lessons Learned” Presentation & video Trial
Preparation & Feedback
10 9 June 2014 Final Presentations & Feedback
SCHEDULE
Faculty Trainers
Prof Wong Poh Kam Jerome Engel Steve Blank
Prof Virginia Cha Prof Neo Kok Beng