Entrepreneurship for scientists and engineers

Title:

Personal Author:

Allen, Kathleen

Publication Information:

Upper Saddle River, NJ : Prentice Hall, 2010

Physical Description:

xii, 244 p. : ill. ; 23 cm.

ISBN:

9780132357272

Subject Term:

Engineering firms -- Management

Entrepreneurship

Business planning

Science

Available:*

Library	Item Barcode	Call Number	Material Type	Item Category 1	Status
Searching... PSZ JB	30000010198525	TA190 A445 2010	Open Access Book	Book	Searching... Unknown

KEY BENEFIT : Essential business lessons for turning today's scientists and engineers into entrepreneurs in new technology companies. In today's global and interconnected world, students with a science or engineering background have ample opportunity to mesh their technical know-how with the free market. Yet, these same students lack the basic business skills to make competent business decisions. This book seeks to make students' first experience with entrepreneurship interesting and useful.
KEY TOPICS : Technology Entrepreneurship for Scientists and Engineers; Developing and Protecting Intellectual Property; Technology Entrepreneurship Strategy; Start-up Financial Strategy
As the source of new discoveries and technologies, scientists and engineers are uniquely positioned to launch new business ventures based on cutting-edge discoveries. This book will teach those with no prior training how to start a company and grow their business through marketing and astute team building techniques.

Preface	p. x
About the Author	p. xii
Part 1 Technology Entrepreneurship for Scientists and Engineers	p. 1
Chapter 1 Scientists and Engineers as Entrepreneurs	p. 1
The Transition to Entrepreneurship	p. 2
Why Study Entrepreneurship?	p. 4
The Role of Innovation and Entrepreneurship	p. 5
Defining Innovation	p. 6
Dispelling Innovation Myths	p. 7
The Commercialization Process	p. 9
1 Discovery	p. 9
2 Opportunity Recognition	p. 9
3 Testing Technology and Market Feasibility	p. 11
4 Proctenting IP Assets	p. 11
5 Protoyping	p. 11
6 Testing the Market and First Customer	p. 12
7 Deciding an a Lunch Strategy	p. 12
8 Developing the Business Plan	p. 12
Launching the Business	p. 12
Summary	p. 13
Discussion Question	p. 15
Case Study: Innovation in the Palm of His Hand	p. 13
Endnotes	p. 15
Chapter 2 Recongnizing Screening Technology Opportunites	p. 17
Opportunity Recognition and Creation	p. 18
Employing Creative Problem-Solving Skills for Opportunity Recognition and Creation	p. 18
Sources of Opportunity	p. 23
Study and Industry	p. 23
Search the Patent Literature	p. 24
Talk to Customers	p. 24
Look into University Opportunities	p. 24
Investigate Government Sources	p. 25
Find New Value in Existing Technology	p. 25
Other Sources	p. 25
Screcning Technology Opportunities	p. 26
Gauge Technology Readiness	p. 27
Determine IP Status	p. 27
Identify Potential Market Appliations	p. 27
Estimate Resource Requirements	p. 27
Summary	p. 28
Discussion Questions	p. 28
Case Study: The Art of Invention - Yoshiro Nakamatsu and Claude Elwood Shannon	p. 28
Endnotes	p. 30
Chapter 3 Designing and Developing a Technology Start-up	p. 33
Developing a Business Concept	p. 34
Features versus Benefits	p. 35
Conducting a Feasibility Analysis	p. 36
Analyzing the Industry	p. 37
Market Analysis	p. 40
Analyzing the Competition	p. 43
Analyzing Product/Service Feasibility	p. 44
Analyzing the Management Team	p. 44
Building an Effective Business Model and Assessing Capital Requirements	p. 44
Is This Business Feasible?	p. 46
Summary	p. 47
Discussion Questions	p. 48
Case Study: Start-ups Begin with a Vision-and This Is a Big One	p. 48
Endnotes	p. 50
Chapter 4 Bmilding an Effective Team	p. 51
Forming an Effective Founding Team	p. 52
The Perils of Technology Founding Teams	p. 53
Characteristics of Effective Teams	p. 54
Extending the Founding Team	p. 55
Professsional Advisors	p. 56
Boards of Directors	p. 56
Avoding Traps When Forming Boards and Management Teams	p. 57
Using Independent Contractors	p. 58
Other Resources to Extend the Team	p. 59
The Move from Start-Up to Rapid Growth	p. 59
Summary	p. 61
Discussion Questions	p. 61
Case Study: Turnings a Scientist into an Entrepreneur	p. 61
Endnotes	p. 62
Part II Developing and Protecting Intellectual Property	p. 65
Chapter 5 The Concept of Intellectual Property	p. 65
The Theory Behind IP Protections	p. 66
Incentives to Invent	p. 66
Incentives to Disclose	p. 67
Incentives to Commercialize	p. 67
Trade Secrets	p. 68
Copyrights	p. 69
Digtial Millennium Copyright Act	p. 70
Fair Use	p. 70
Trademarks	p. 71
Trademarks and the Internet	p. 72
Patents	p. 73
What Constitutes a Patentable Invention?	p. 73
The Five Classes of Patents	p. 74
Types of Patents	p. 74
Filling for a Paient	p. 76
Summary	p. 80
Discussion Question	p. 80
Case Study: Gordon Gould-The Father of Laser Technology	p. 81
Endnotes	p. 82
Chapter 6 Patent and Trademark Strategy	p. 85
Protecting Patents	p. 86
Establish a Temporary Monopoly	p. 87
Improve Financial Performance	p. 87
Increase Competitiveness	p. 88
Deciding When and If to Patent	p. 90
Understanding Patent Infringment	p. 93
Case Study: Settling Patent Infringement Can Be Lucrative	p. 94
Protecting Trademarks	p. 95
Trademarks and the Internet	p. 96
Licensing Intellectual Property	p. 96
The Licensor's Perspective on the Licensing Process	p. 98
Managing the License	p. 101
The Licensee's Perspective on the Licensing Process	p. 102
The License Agreement	p. 104
Grant Clause	p. 104
Performance Clause	p. 105
Secrecy Clause	p. 105
Payment Clauses	p. 105
Granback Clause	p. 106
Term	p. 106
Additional Clauses	p. 106
Summary	p. 106
Discussion Questions	p. 107
Case Study: Skycar-Licensing a Dream	p. 107
Endnotes	p. 109
Part III Technology Entrepreneurship Stratecy	p. 111
Chapter 7 High Technology Product Development Strategies	p. 111
Entreprencurial Product Development Model	p. 112
Factors that Affect the NPD Process	p. 115
Measuring Success and Risks	p. 119
Managing the Risk of R&D	p. 119
Outsourcing Technology Innovation	p. 122
Developing a Regulatory Strategy	p. 123
Summary	p. 126
Discussion Question	p. 127
Case Study: IDEO-Where Innovation Is the Culture	p. 127
Endnotes	p. 129
Chapter 8 Technology Transition and Entry Strategies	p. 131
Transitioning from Project to Operations	p. 132
Build a First-Class Team	p. 132
Develop the Mission	p. 133
Deciding on a Launch Strategy	p. 135
License the Technology	p. 135
Sell the Technology	p. 135
Start a Company	p. 135
Form a Strategic Alliance	p. 136
Deciding on an Operational Strategy	p. 138
Process Flow	p. 139
Organizational Architecture	p. 140
Orgnizing from a Legal Perspective	p. 141
R&D and Prelaunch Forms	p. 144
Legal Forms That Protect the Owners	p. 144
Making a Decision about Form	p. 146
Changing Legal Forms	p. 147
Summary	p. 147
Discussion Questions	p. 148
Case Study: Quantum Dots	p. 148
Endnotes	p. 150
Chapter 9 Technology Adoption Patterns and Marketing Strategy	p. 153
The Nature of High Technology Markets	p. 154
Market Uncertainty	p. 155
Technological Uncertainty	p. 155
Competitive Uncertainty	p. 155
Know-How, Complexity, and velocity Effects	p. 156
The Technology Adoption Cycle	p. 156
Building Critical Mass for a Tornado	p. 158
After the Tornado	p. 158
Determinning a Marketing Approach	p. 159
Understanding Customer Needs	p. 161
Pricing High-Technology Products	p. 162
Defining the Components of Price	p. 163
Coverging on a Price Point	p. 164
Constructing a Pricing Strategy	p. 165
Developing a Marketing Plan	p. 165
Constructing a One-Paragraph Plan	p. 166
Marketing Tools	p. 167
Promoting High-Technology Products	p. 167
Using Preannouncements	p. 170
Developing a Brand Presence	p. 169
Taking Advantage of Publicity	p. 170
Summary	p. 171
Discussion Questions	p. 171
Case Study: Finding the Right Formula for Music With Science	p. 172
Endnotes	p. 173
Part IV Start-Up Financial Strategy	p. 175
Chapter 10 The Business Model	p. 175
Developing a Business Model	p. 176
Struiegic Positioning in the Value Chain	p. 177
Identify Sources of Revenue	p. 179
Identify the Cost Drivers	p. 181
Capture Value with Pricing, Cost, and Financing	p. 181
Test for Weaknesses in the Business Model	p. 181
Launch and Measure the Business Model	p. 182
Understanding Why Business Models Fail	p. 183
Predictions About the Future are Based on Faulty Logir	p. 183
The Business Model Does not Create and Capture Value	p. 183
The Entrepreneur Has not Identified the Customer	p. 184
Summary	p. 184
Discussion Questions	p. 184
Case Study: Pandora-There Must Be a Business Model that Works	p. 185
Endnotes	p. 186
Chapter 11 Funding the Technology Start-up	p. 187
Risks and Stages of Funding	p. 188
The Cost of Raising Capital	p. 190
Bootstrapping the Start-up	p. 191
Government Funding Sources	p. 192
Small Business Innovation Research Grants	p. 192
Small Business Technology Transfer Research Program	p. 193
Small Business Investment Company Program	p. 193
The Small Business Administration	p. 193
Seed Capital	p. 194
Friendly Money	p. 194
Debt Financing	p. 195
Equity Arrangements	p. 195
Strategic Partnerships and Other Intermediaries	p. 196
Start-up Funding	p. 196
Angel Investors and Networks	p. 197
Funding Biotechnology	p. 199
Seed Stage	p. 199
First-Round Funding: FDA Phase I Testing	p. 200
Second-Round Funding: The Business Model	p. 200
Summary	p. 201
Discussion Questions	p. 202
Case Study: Alibaba - From Apartment to Stock Exchange	p. 202
Endnotes	p. 203
Chapter 12 Funding Growth	p. 205
Financial Strategy for Growth	p. 206
VC Funding	p. 206
VC Screening Process	p. 207
Timing of Funding	p. 211
The Aftermath	p. 211
The Private Offering	p. 211
Small Corporate Offering Registation	p. 212
Direct Public Offering: Regulation A	p. 213
The Initial Public Offering	p. 213
The IPO Process	p. 214
Summary	p. 217
Discussion Questions	p. 217
Case Study: From Riches to Rags and Back? When Going public May Not be the Right Path	p. 218
Endnotes	p. 219
Chapter 13 Technology Valuation	p. 221
The Drivers of Value	p. 222
When Value Is Discounted	p. 224
Financial Models for Assessing Value	p. 225
Valuations Based on Cost	p. 225
Income Method: The Pro Forma Discounted Cash Flow Model	p. 226
The Real Options Model	p. 228
Venture Capital Methods	p. 231
The Hockey Stick Approach: The Basics	p. 231
The Issue of Dilution	p. 233
Valuing a License Agreement	p. 233
Summary	p. 234
Discussion Questions	p. 235
Case Study: Value is in the Eyes of the Bcholder	p. 235
Endnotes	p. 236

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