Entrepreneurship & Innovation

A blog related to Entrepreneurship & Innovation.

Founding teams

morreale Thursday 05 of December, 2013
Stanford posted some results of a study of 2067 ventures and found that technically focused teams making high tech products have better exits. For startups that compete against large established companies or serve markets that don't focus on technological innovation, a founding team with diverse skills have a better exit. This seems to make some sense and now there is some data behind it.

Kauffman Foundation Founders School

morreale Monday 07 of October, 2013
The Kauffman Foundation as released the Founders School course on entrepreneurship. The course covers:
  • Entrepreneurial selling
  • Powerful presentations
  • Intellectual property
  • Founder's dilemmas
Each segment contains short lectures by industry experts, reading material, and interviews with founders of companies explaining how they address the topics.

How to pitch to a VC

morreale Monday 07 of October, 2013
Serial entrepreneur and VC David Rose describes How to pitch to a VC in this 2007 TED talk. Although it may be a bit old the information is still very good and relevant to todays entrepreneurs.

MAS S65: Science Fiction to Science Fabrication

morreale Wednesday 02 of October, 2013
Mad Scientist 101: A New MIT Class Aims To Turn Science Fiction Tech Into The Real Thing. According to the course syllabus there are eight sections where you read authors on a particular topic and then design technology based on the themes. The topics include:
  • ARTS
  • Ancient beliefs & future tech/culture/society/behavior in general (Or: Science Fiction isn’t about the future)

10 insights for investment pitches

morreale Friday 13 of September, 2013
Entrepreneurship.org has posted the article 10 insights for investment pitches by panel of experienced entrepreneurs. The insights provided include:
  • Assume investors know nothing about your business
  • Show the problem your product solves
  • Show your competitive analysis
  • Show how you will sell and market your product
  • Don't sound like an infomercial
  • Show how long it might take to get to market
  • Show your monetization strategy
  • Demonstrate the product with props or prototypes
  • Keep it short and simple
  • Be able to give your presentation without computers or slides

Disrupt SF 2013

morreale Friday 13 of September, 2013
I missed most of the TechCrunch Disrupt SF 2013 conference this week, but the videos are now available on archive.


Photography in the digital age

morreale Tuesday 27 of August, 2013
Photographer Richard Kelly did a webinar with Photoshelter on How to Balance Protecting and Selling Your Photos in the Digital Age. Some of the high points of the informative webinar include:
  • Formally define goals and objectives of your photography business.
    • This helps define what projects you do and what clients you work with.
  • Form an advisory board
  • Join a professional society
  • Develop a relationship so that customers become repeat clients
  • Define your expectations for the use of your photographs somewhere on your website
  • Not all infringements require going to court
  • Many times it's easier to get paid rather than make a point in court
  • Watermarks can be used as marketing tool to drive customers back to your website especially with social media sites.
Some useful links discussed during the webinar

Demystifying Crowdfunding

morreale Tuesday 27 of August, 2013
Slava Rubin from Indiegogo describes How to Raise $1M in 30 Days as part of a lecture for the Kauffman Foundation. Slava says that the trend now is to develop a relationship with your customers so the emphasis is no long about the transaction but the relationship. If you are in the relationship business is all brand instead of commoditization. People fund because
  • They identify with the campaigner's passion and connect with the team.
  • They want the product or perk being offered.
  • They want to be part of a social movement, trend, or be part of something that makes a larger project possible.
  • They take pride in contributing to making someone's dream come true.
To have a good campaign you need a
  • Good pitch that tells your personal story and shows you passion
  • To tell about your project constantly
  • Find an audience that cares and give the contributors something in return
Slava says that you have a more successful campaign if you
  • Have a 2-3 minute video that is broken into three parts. Part 1 is the short story about you and what you are passionate about plus we have cool perks. Part 2 is all about the product and can be used anywhere. Part 3 thanks the contributors and asks for a contribution.
  • Have 5 to 8 perks.
  • Provide three contributions levels of low (<$25), medium ($25-100), and high ($100-500). Most people contribute a median of $30 and an average of $74.
  • Provide exciting and crazy perks like >$1000, >$5,000, >$10,000 which creates buzz and attention.
  • Provide engaging individual story that mimics the video and it should contain images.
  • Do an update every 5 days or less
  • Email, Facebook, and Twitter are best used to support your campaign.
  • Set up an Host committee to coordinates your campaign. It should be set up about a month before the campaign starts, and the Host committee should involve around 100 people. Each person on the Host committee is responsible for raising funds from 10-20 people. It's very hard to do.
  • If you don't know who's funding you, don't launch.
    • The inner circle jump starts the campaign.
    • The inner circle validates the product which encourages strangers to contribute (social legitimacy).
    • The average campaign will get 35% of its contributions from the inner circle, $40% from friends and family, and 25% from strangers.
  • Reach out to people both on and off line.
  • Connect with bloggers and the press that are related to your campaign.
  • Asks people to give multiple contributions.
For more information, check out the Indiegogo blog.