Silicon Valley Innovation (Prague)
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Demystifying Silicon Valley Entrepreneurship, New Ventures Tactics and Culture”, Prague University of Economics, XPort, November 2017
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Silicon Valley Innovation (Prague)
- 1. Ikhlaq Sidhu, content author Ikhlaq Sidhu Founding Faculty Director Sutardja Center for Entrepreneurship & Technology Department of Industrial Engineering & Operations Research IEOR Emerging Area Professor Award Demystifying Silicon Valley Entrepreneurship New Ventures Tactics and Culture
- 3. Ikhlaq Sidhu, content author LOTS OF ACTIVITY CHALLENGE LAB GLOBAL PROFESSORS NZTV SELF-DRIVING COLLIDER DATA-X CHATBOT COLLIDER SCET IN TAIWAN JOHN BATTELLE FOUNDER WIRED MAGAZINE NEWS COVERAGE 14 Courses 1600+ Undergraduates 80+ Ph.D / Graduate Students 100+ Executives 12+ Global Partners MARRISA MAYER
- 4. Ikhlaq Sidhu, content author Misconception: We used to think that learning business and management would help technology innovators Reading business cases studies on innovation Management practices and financial statements Making a presentation to raise funds Studying business frameworks Making a business plan Waiting for a great idea 6 things are not the main ingredient to deploy innovation or start ventures.
- 5. Ikhlaq Sidhu, content author Our model has adapted: Business training is not the only key element Our effectiveness formula is: • Depth in an valued area • Entrepreneurial “behaviors and mindset” Our programs and projects provide this. Our model has adapted: Business training is not the key element Skill in a Core Area Innovation Behaviors and Mindset “Psychology of Innovation” High Potential Too Narrow Street smart, but lacking depth
- 6. Ikhlaq Sidhu, content author Our newest Course IEOR 135 / 290 Applied Data Science (Data-X Projects)
- 7. Ikhlaq Sidhu, content author Sample Project from the First Data-X Course • Detection of fake news • Prediction of long-term energy prices to solve am Wall Street problem • Prediction applications stock market, sports betting, and more • AI for Crime detection, traffic guidance, medical diagnostics, .. etc • A version of Zillow that is recalculated with the effects of AirBnB income • and many more…
- 8. Ikhlaq Sidhu, content author Our model has adapted: Business training is not the only key element Our offerings range in technical depth vs breadth Skill in a Core Area Innovation Behaviors and Mindset “Psychology of Innovation” High Potential Taught in situation, during the journey Challenge Labs SVIL/ELPP Applied Data Alt.meat … Social/Business Technical Depth
- 9. Ikhlaq Sidhu, content author The Greater Silicon Valley: An Innovation Accelerator My other perspective is Silicon Valley
- 10. Ikhlaq Sidhu, content author Silicon Valley – What is it like? • Approx. 6M people • 400,000+ tech jobs (~25% of the work force) • More millionaires & billionaires per capita than anywhere else in US and Europe • Thousands of experienced entrepreneurs. • 50% of all venture investing in the US • 2,000+ angel investors, 29 of the 100 largest US companies have HQ in SV • Decisions are made at lightning speed • Follow up in hours, not days or weeks Data from USMAC
- 18. Ikhlaq Sidhu, content author Components of Any Industry Cluster or Ecosystem Government Policy People with Skills Venture Capital / Private Equity Entrepreneurs Support System Universities Industry Base or Cluster
- 19. Ikhlaq Sidhu, content author Components of Any Industry Cluster or Ecosystem Government Policy People with Skills Venture Capital / Private Equity Entrepreneurs Support System Universities Industry Base or Cluster Hidden Essential Ingredient
- 20. Ikhlaq Sidhu, content author Components of Any Industry Cluster or Ecosystem Government Policy People with Skills Venture Capital / Private Equity Entrepreneurs Support System Universities Industry Base or Cluster Hidden Essential Ingredient Innovation Culture & Mindset
- 21. Ikhlaq Sidhu, content author The Path to New Initiatives and New Businesses T S Progress on Technology and/or Product Social Progress in Developing Stakeholder Ecosystem
- 24. Ikhlaq Sidhu, content author Identify the Stage of Your Product Business Investment Readiness System Test, Launch, Ops Technical Readiness System/Subsystem Demonstration Development Progress Feasibility Research Insight Story / Value Validation Business Model Sales Process Complete Ecosystem Operational Metrics X Y Z
- 25. Ikhlaq Sidhu, content author Identify you making progress? Business Investment Readiness System Test, Launch, Ops Technical Readiness System/Subsystem Demonstration Development Progress Feasibility Research Insight Story / Value Validation Business Model Sales Process Complete Ecosystem Operational Metrics X Y Z Progress: Logic, Market, Size, Value Proposition, Execution… Progress: Connectors, People Are Joining, Story Resonates, PR/News, Lots of friends…