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Session

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Title: Session


1
Session 1 Welcome Mayfield Fellows Program
2003Engineering 140A Management of Technology
Ventures
2
Agenda, Introductions, and Roles
  • Tina Seelig
  • Chris Bingham
  • Sue Purdy-Pelosi
  • Yvonne Hankins-De Long
  • Our 2003 Fellows
  • And Who Else? Mentors, etc.

3
How Did I Get Here?
1980s
1990s
2000s
4
Vision
We believe engineers and scientists need
entrepreneurial skills to be successful at all
levels within their organizations. Our center is
dedicated to accelerating high-technology
entrepreneurship education and creating scholarly
research on technology-based firms. We prepare
students for leadership positions in industry,
universities, and society, and we disseminate our
research and teaching knowledge throughout the
world.
http//stvp.stanford.edu
5
STVPs Customers
  • Approximately 5,000 Stanford science and
    engineering students each year
  • Approximately 2,000 entrepreneurship professors
    and senior administrators at universities around
    the world
  • Approximately 2 million science and engineering
    students around the world

6
STVPs Three Areas of Focus
TeachingCreate curricula for science and
engineering education
ResearchSupport research on technology
entrepreneurship
OutreachDisseminate results to accelerate
similar efforts worldwide
7
Summary of Key Accomplishments
  • We teach 24 quarters per year, reaching 1,500
    Stanford students.
  • We have expanded our content to include life
    sciences.
  • We welcomed a new tenure-line faculty member
    (Riitta Katila).
  • We host 15 Ph.D. students, researching
    high-technology ventures.
  • We run three annual conferences for
    entrepreneurship educators (REE Asia, REE Europe,
    and REE USA).
  • We launched our new Educators Corner for e-ship
    educators.
  • We continue to lead the Stanford
    Entrepreneurship Network (SEN).

8
Potential Impact of STVP Programs
250,000 students/year (500 schools 500
students)
Web Sites
Educators Corner
100,000 students/year (200 schools 500
students)
REE USA/Europe/Asia
40,000 students/year (80 schools 500
students)
SEN ETL BASES/ATI/ASES
5,000 students/year
1,500 students/year
STVP
9
STVP Awards in 2002/2003
US Association of Small Business and
Entrepreneurship National Model Program Award
for Excellence in Entrepreneurship Education in
Specialty Programs Freedoms Foundation Leakey
Award for Excellence in Private Enterprise
Education
10
The STVP Team
Regular Faculty Adjunct Faculty Staff
Tom Byers, Academic Director Kathy Eisenhardt,
Academic Director Riitta Katila Bob Sutton John
Weyant
Tina Seelig, Executive Director Katherine
Emery Sue Purdy Pelosi Michelle Tung
Randy Komisar Tom Kosnik Mark Leslie Mike
Lyons Audrey MacLean Doug Mackenzie
11
Why Teach Entrepreneurship to Engineers and
Scientists?
  • Regions economic development
  • Students skill development
  • Universitys competitive advantage

Society needs engineers who not only solve
engineering problems, but who can participate in
bringing ideas and products to market. --Frank
Huband, Director, American Society of Engineering
Educators
12
Seven Important Skills for Tomorrows
Entrepreneurial Leaders Stressed in MFP
  • Creativity and Opportunity Evaluation
  • Real-time Strategy and Decision Making
  • Comfort with Change and Chaos
  • Teamwork
  • Evangelism, Selling, Negotiation, and Motivation
    through Influence and Persuasion
  • Oral and Written Communication
  • Basics of Start-Up Finance and Accounting

13
What is Entrepreneurship?
The pursuit of opportunity without regard to
resources controlled.
Any attempt at new business or new venture
creation, such as self-employment, a new business
organization, or the expansion of an existing
business, by an individual, a team, or an
established business.
A way of thinking and acting that is opportunity
obsessed, holistic in approach and leadership
balanced - for the purpose of wealth creation.
A Way of Managing and Leading!
References Harvard Business School and Babson
College
14
What is High-Technology?
  • Software (Microsoft)
  • Biotech and Medical Devices (Genentech)

Computers (HP)
Telecommunications and Networking (Cisco)
Semiconductors (Intel)
15
What are Characteristics of High Technology (or
Technology-Intensive) Businesses?
  • Rapid advances in technology allow new ventures
    and competitors to offer new functionality or
    applications to help customers solve existing or
    latent problems.
  • Examples include these categories
  • Information Sciences computer software and
    systems, data networking, electronic commerce and
    information services, telecommunications and
    wireless communications, semiconductors and
    equipment, advanced materials and specialty
    chemicals, and consumer products and services.
  • Life Sciences biotechnology, traditional
    pharmaceutical products, health care services,
    medical information systems, medical devices, and
    medical equipment.
  • Advancements can be either
  • Revolutionary Brave New World
  • Evolutionary Faster Better Cheaper

Reference Adrian Ryans
16
The Essence of Entrepreneurship is Action (Fits
Well with Kolbs Stages of Learning Model)
  • Thinking Conceptualization
  • Watching Observation
  • Feeling (Passive Experience)
  • Doing and Active Experience

Learning is based on discovery guided by
mentoring rather than on the transmission of
information. Boyer Commission Report on
Undergraduate Education
17
Mayfield Fellows Program 2003
WINTER Select outstanding engineering seniors
and co-terms to be Mayfield Fellows
I. SPRING Students learn structure and
methods of start-ups Students matched with paid
assignments at high tech start-up companies
III. AUTUMNStudents bring back experiences and
learn from them as a group
3 Courses Paid Summer Internship
  • Each Fellow has 3 Mentors
  • Venture Capitalist
  • Alumnus of MFP
  • Entrepreneur _at_ Summer Employer

II. SUMMER Leverage the power of real-
world, hands-on experience
18
E140A Description
Management of Technology Ventures is focused on
developing an understanding of the issues and
techniques for growing emerging technology
companies. This distinguishes the course from
those which focus on business plan writing and
the actual formation of a venture (e.g., MSandE
273 - Technology Venture Formation). The course
takes students through a range of issues faced by
management in building a new enterprise. These
include product and market strategy, venture
financing and cash flow management, culture and
team building, innovation and creativity,
real-time decision making, and the overall
challenges of managing growth and handling
adversity. The intellectual basis for E140A is
grounded in the "V-I-E" framework from Collins
and Lazier's Managing the Small to Mid-Sized
Company textbook. As shown in the course
calendar, various sessions focus on key strategic
decisions described related to product, market,
cash flow, and organizational development. "Saga"
or foundation cases provide special opportunities
to integrate the material. Additional models and
analysis tools are introduced throughout the
quarter to highlight particular aspects of
high-technology entrepreneurship. For example,
the course includes Geoff Moore's "chasm" model
on the technology adoption life cycle and its
effect on marketing in young companies.
19
Where Does E140 and MFP Fit in Terms of a
Ventures Life?
Reference Steven Brandt
20
E140A in a NutshellPart I of III for MFP 2003
Inputs
Outputs
  • 3 Texts (Moore, Eship 02/03, and Course Reader)
  • Several Frameworks Including Collins and Laziers
    V-I-E, Chasm, Influence, and Sahlman.
  • 12 Cases Giro, CVT, Drugstore.com, MIPS, Visio,
    SKOLAR, Perlegen, Documentum, T/Maker, Joe Casey,
    Remedy, Randy Hess
  • 2 Special Sessions on Accounting and Job Search
  • Online Videos, Web-based Readings and Email
    Broadcasts
  • 8 ETL Sessions Moritz, Ramdas, Doerr, Neeleman,
    Benioff, Estrin, Ramdas, Thompson
    (http//etl.stanford.edu)
  • Special MFP Events
  • 31 Teachers and Mentors 5 Stanford (Chris,
    Tina, Tom, Sue, and Yvonne), 6 Venture Capital
    Mentors, 12 MFP Alumni Mentors, 8 E140A Guests
    in Class
  • Case Openings and Email Homework Assignments with
    a Study Team
  • Term Project on Profile of an Effective
    Entrepreneur with Study Team
  • First Draft of a Year-long Personal Learning
    Portfolio (i.e., myMFP web site)
  • Summer Job Search and Selection
  • Our Culture and Personality in MFP

Bottom Line? The Theory of Entrepreneurial
Leadership as Preparation for the Next Stage
during the Summer
21
A To Do List for this Week
  • Skim everything on the E140As web site once
    again
  • Prep for Session 2 regarding the accounting and
    study team formation
  • Network with other class participants asap seek
    diversity in backgrounds (e.g., E145, accounting
    knowledge, majors and minors, etc.)
  • Notify us at end of this session of your
    decisions
  • Prep for Session 3 on April 8 ...
  • Substantial readings
  • Skim todays Top 10 Elements of High-Tech
    E-ship handout

22
My The Success Formula for E140
  • Show up on time (with cell phones and pagers off
    please).
  • Be nice to people (e.g., constructive comments
    only, one speaker at a time).
  • Do what you say you will do and deliver more than
    you promise (in class and out).
  • Do it with energy and passion (everyone
    contributes and participates).

The teaching team commits to these items we
respectfully ask you to do the same.
Reference JM Perry
23
Forming Our Culture in MFP 2003 Some Questions
to Ponder
  • Which reasons for getting involved in the program
    are common to us all? What is our shared vision
    of the program? What matters the most to you at
    this point?
  • What kind of learning environment do we wish to
    create (e.g., traditional teacher/student vs.
    co-producers)?
  • What creative and innovative things can we do to
    quickly get to know each other well?
  • What formal and informal ways should we use to
    provide feedback to each other along the way?
    How and when should we check on how our culture
    is doing?
  • How will we measure success in December? What
    would it take to make this worth all the upcoming
    time and effort?

24
Q and A
  • Primary Question and Concern Emails
  • Scheduling an Evening with the Alumni Mentors?
  • And now for something completely different
    Icebreakers
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