I Index A Accelerators alumni and founder networks, 135 B-grade companies, 134 business incubators, 132 creating bubbles, 134 focus on smaller companies, 134 hardware startups, 133 profit versions of incubators, 132 software and technology startups, 133 startup founders, 134 startup schools, 135 universities benefit, 135 useful companies, 134 venture capital firms, 133 Y Combinator, 133 Angel investors and universities, 128 and venture capitalists, 127 celebrities, 127 description, 127 FFF round, 128 profitability, 128 Ramen profitability, 128 tech hubs, 128 Asian Development Banks (ADBs), 192 193 B Bazaar approach, 154 Benefits vs. features academic entrepreneurs, 61 checklist, 66 listen and learn, 65 66 MVPs, 66 SPIN technique, 62 65 venture capitalist, 61 Big Battery Corporation (BBC), 105 Burn rate, 81 Business cards, 112 Business lunch, 113 115 Business model canvas, 167 168 Business model canvas/lean canvas, 111 C Chief executive officer (CEO) and CIO, 113 Big Battery Corporation (BBC), 105 The Business Post, 105 feedback, early-stage product, 115 full presentation, 114 LinkedIn group, 116 R&D, 106 D Demo days, 189 191 E Economic theory and business school knowledge, 91 corporate finance, 88 description, 90 disadvantage, 88 high-price environment, 90
220 Index Economic theory (cont.) London School of Economics, 90 low-price environment, 90 macroeconomics, 88 MBA, 90 microeconomics, 88 real-estate boom, 89 supply-and-demand model, 88 89 Electric scooter startup, 22 23 Elevator pitch, 103 106 Engaging others with actionable next steps checklist, 60 interaction, 55 MVPs, 56 NDA, 55 one-page proposal, 57 60 public university, 56 with actionable next steps, 56 Entrepreneur alumni networks, 174 Entrepreneur-in-residence (EIR) program, 160 business schools, 188 definitions, 188 entrepreneurial, 188 intrapreneur, 188 modules, 188 189 multinationals and governments, 188 source of excellent media coverage, 189 Entrepreneurship, learning, 173 F Failing fast, 129 130 Financial business model assumptions, 83 checklist, 91 92 costs, 83 economic theory, 88 91 existing market, 85 86 financial accounting, 83 hockey-stick growth, 86 investing, 84 85 investor, 87 market size and share, 87 MVP testing, 87 new market, 86 potential partners, 87 product/market fit, 86 profit projections, 83 projected future cash flows, 84 real-estate investment, 87 re-segmented market, 86 revenue, 83 serving, 87 specialists, 91 92 venture capitalists, 84 Financial business models and projections, 82 burn rate, 81 corporate finance, 82 costs, 83 investors, 81 potential market, 81 profit, 83 profit margin, 83 revenue, 82 spreadsheet software, 81 venture capitalist, 82 Financial model, 111 Fundraising materials demo or prototype, 142 due-diligence materials, 142 financial model, 141 lean canvas, 141 PPC, 142 G Government visits, 179 180 H High-net-worth individuals (HNWIs), 56, 126 I Ikiru, 53 Impact investment, 199 200 Incremental product development description, 17 MVP, 17 Incubators acceptance criteria, 132 business support programs, 132 economic development organizations, 132
Index 221 government entities, 132 research and technology parks house incubation programs, 131 startup stage, 131 venture capital firms, 131 Industry links, 174 Industry visit commercializing technology, 181 feedback, 182 intellectual property, 182 leveraged approach, 182 multinational corporations, 181 multinational industry, 182 multinational industry giant, 181 MVP testing, 182 R&D operations, 182 183 real partnerships, 181 small and medium enterprises (SMEs), 181, 183 technology transfer/licensing office (TTO/TLO), 181 Initial public offering (IPO), 126, 143 Intergovernmental organizations (IGOs) Asian Development Bank (ADB), 192 biodegradable battery technology, 193 channeling, 193 economic scale and momentum, 192 electric scooter, 193 funding requests, 192 global organizations, 191mission, 192 prediction of seismic activity, 193 robotic manufacturing, 193 STI, 192 International Monetary Fund (IMF), 192 Intrapreneur, 188 Investment fund benefits, 200 201 master platform, 195 197 Investor visit, 183 185 IPO. See Initial public offering (IPO) J Joint venture chemistry and mutual trust, 139 company and university research team, collaboration, 139 K MVP testing, 139 partners, 139 SMEs, 138 startups and industry, 138 Kamikaze-style, 32 Key performance indicators (KPIs), 9, 147 148, 153 L Lean product development, 22 The Lean Startup business plan, 25 description, 15 incremental product development (see Incremental product development) lean canvas and financial model, 27 startup coach, 24 Li-ion battery technology, 96 Limited liability company (LLC), 95 M Macroeconomics, 88 Meetings and communication skills business cards, 112 business lunch, 113, 115 business model canvas/lean canvas, 111 checklist, 118 confidentiality, 109 110 elevator pitch, 103 106 financial model, 111 micro-scripts, 103 106 MVP testing, 107 NDAs, 109 110 one-page proposal, 111 photographs, 112 points to discuss, 110 111 Powerpoint, 99 10/20/30 rule, 100 103 backup plan, 103 call to action, 101 large font size, 101 potential project, 103
222 Index Meetings and communication skills (cont.) PowerPoint slide before applying, 101 102 Silicon Valley, 100 SPIN technique, 103 third parties, 100 sketches, 112 SPIN, 107 technical drawings, 112 unexpected situations, 108 109 well-researched requests, 115 118 Microeconomics, 88 Micro-script rules, 103 106 Millennium Development Goals (MDGs), 180 Mind maps, 74 75 Mind storming, 72 73 Minimum viable product (MVP), 17, 56, 68, 167 168 checklist, 19 electric scooter, 24 growth hypothesis, 18 testing, 104 process, 18 value hypothesis, 18 N Non-disclosure agreement (NDA), 109 110 North-American Free Trade Agreement (NAFTA), 191 O One-page proposal action, 58 description, 57 financial, 58 name and date, 58 preparation, 60 rationale, 58 sample, 59 secondary targets, 58 status, 58 target, 57 title, 57 Open IP bazaar approach, 154 intellectual property, 155 NSF, 155 ownership of projects, 155 PCT, 155 WIPO, 155 Optimization approach, 178 P, Q Parkinson s Law, 70 71 Patents and technology transfer Brookings Institution, 154 KPIs, 153 positive grant system, 154 revenue, 153 TLO, 152 153 TTO, 152, 154 universities, 152 Platform projects banks, 193 195 communication, 187 demo days, 189 191 entrepreneur-in-residence (EIR) program, 188 189 feedback and two-way knowledge exchange, 187 funds, 193 195 IGOs, 191 192 impact investment, 199 200 investment fund, 195 197, 200 201 MVP, 187 presentations for investors, 193 195 venture capital vs. mega fund, 197 198 Platform-thinking approach active exchange of ideas, 178 business model and financial model, 177 communication, 177 financial matching scheme, 177 government visits, 179 180 industry visit, 181 183 innovation and growth, 178 intergovernmental organizations, 178 internal efforts, 186 investor visit, 183 185 key performance indicators (KPIs), 177 optimization approach, 178 self-sustaining entities, 178 stuff approach, 178 university ecosystem, 179
Index 223 Powerpoint, 99 PPC. See Private placement memorandum (PPC) Price differentiation, 46 Private placement memorandum (PPC), 142 Product/market fit, 86 R Return on investment (ROI), 127 S Seismic Software, 108 SensorX sensors, 109 Simple strategies business approach, researchers and entrepreneurs, 69 deadlines, 70 71 mastermind groups, 71 mind maps, 74 75 mind storming, 72 73 murky waters, entrepreneurship, 67 one action per day, 69 70 spend just ten more minutes, 75 taking action, 68 69 think on paper, 73 74 to think, 72 visualization, 76 Situation problem implication need-payoff (SPIN) technique, 62 65 Small and medium enterprises (SMEs), 138, 169, 172 Smartphone battery technology, 20 21 Socially responsible investment (SRI), 199 Startup attorney, 96 business, 93 checklist, 98 clarity about ownership, 95 corporations, 95 ease of investment, 95 interest, 93 investible, 96 investor/venture capitalist knocks, 93 limited liability company (LLC), 95 never spend money to make money, 97 98 ownership, 96 partnership, 95 sole proprietorship, 94 Startup entrepreneurship advice, 51 and stockbroker, 53 big numbers, 45 46 bootstrapping, 36 37 business abroad, 39 40 checklist, 54 comfort zone, 41, 43 creativity, 30 31 dedicating time and resources, 30 20% generalist, 47 48 global stage, 30 good first impression, 37 39 hollywood version, 53 Ikiru, 53 launching own company, 52 learning, 49 50 management, 30 31 mindset, 40 41 mission and purpose, 52 motivations, 29 persistent movement, 30 read and improve, 43 45 scratching and clawing, 30 80% specialist, 47 48 stop being late, 35 teaching, 52 time management, 32 35 turtle-style, 32 willpower vs. self-confidence, 32 working, 52 Startup grants advisors, 122 123 early funding, 120 entrepreneurs, 119 funding, 123 124 government programs, 121 122 investment, 120 investors, 122 123 money and entrepreneurship, 122 network effects, 121 122 universities, 119 writing proposals and business plans, 120
224 Index Startup launch process companies and financial sector, 14 motivation and freedom, 11 network effects, 11 practical strategies, 14 roadblocks, 12 sequence, 10 synergies and ecosystem, 11 Startup stage entrepreneurship, stages, 137 138 joint venture deal, 138 MVP testing mode, 137 toolkit, analytical tools, 137 Stuff approach, 178 Sustainable transport initiative (STI), 192 193 T Technology licensing office (TLO), 148, 152 153, 173 Technology transfer/licensing office (TTO/TLO), 51 Thriving business, 4 Time management, 32 35 Troubleshooting bankruptcy, 79 build, measure learn, 78 checklist, 80 conflicts, 77 entrepreneurial experience, 79 interim CEO, 79 joint venture plans, 78 money, 78 network and entrepreneurs, 78 open communication, 78 priority, team, 77 problem-solving, 79 product and business model, 79 quiet moment, 78 stakeholders, 78 startup teams, 79 team lost, 78 Turtle-style, 32 Twenty idea method, 72 73 U Ultra-high-net-worth clients (UHNWI), 184 185 Ultra-high-net-worth individuals (UHNWIs), 194 United Nations (UN), 191 Universities academia, 8 American counterparts, 148 Asian campuses, 148 commercial ideas, 148 communicate ideas, 145 ecosystem, 7 entrepreneurial experience, 145 entrepreneurship, 6 entrepreneurship program, 145 entrepreneurship work, 147 Europe, 148 incomplete launch pad, 9 individual experiences and feedback, 145 institutions approach, 9 integrating entrepreneurship, 146 key performance indicators (KPIs), 9, 147 launching startups, 146 magnets for smart people, 145 network building and cooperations, 6 7 privileged position, 146 startup success, 147 149 students and researchers, 5 synergistic interaction, 9 vanity metrics, 146 Universities, support for startups fail smart and collect data, 170 guidelines, 166 industry networking, 169 170 management activities, 168 169 mentors vs. workshops, 166 168 new ideas, 165 sweeping changes, 165 University, measurable impact Facebook, 152 open IP, 154 155 patents and tech transfer, 152 154 performance metrics, 152
Index 225 University startup entrepreneurs characteristics, 4 conventional advice, 2 desktop computer, 3 external parties, 1 fail-safe system, 1 media stories, 4 own business, 2 paid project, 3 part-time work, 2 trial phase, 3 venture capital, 4 will and common sense, 4 University startups entrepreneurship networks, 160 grants and workshops, entrepreneurship, 157 hands-off approach, 160 job, entrepreneurship, 163 164 knowledge exchange entrepreneurship initiatives, 159 joint venture partners, 158 159 university research, 158 159 opportunity cost, 158 standardization, 162 startup experts, 161 V Venture capitalists (VCs) firm invests, 125 HNWIs and institutional investors, 126 IPO, 126 lack of business and financial models, 126 ROI, 127 sound track record, 127 students and researchers, 126 winners, 127 World War II, 126 Venture capital (VC) amount of capital, 141 best VCs, 142 fundraising materials, 141 142 IPO, 143 startup entrepreneurs, 140 141 startup investigation, 142 143 term sheet, 143 Venture capital vs. mega fund, 197 198 Volcanic-eruption module, 108 W, X, Y, Z World Trade Organization (WTO), 191