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| Preface | |
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| About the Authors | |
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| Inventing Entrepreneurs | |
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| Overview | |
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| Entrepreneurs as Agents of Change | |
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| Scientific Innovation and Entrepreneurship | |
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| Defining the Inventing Entrepreneur | |
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| Preconditions | |
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| Organization of This Book | |
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| Endnotes | |
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| Discovering Entrepreneurial Options | |
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| Entrepreneurial Purpose | |
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| Overview | |
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| The Decision to Propagate Innovation | |
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| Introduction to the Commercial Venture Process | |
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| Foundations of Entrepreneurial Purpose | |
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| Visualizing the Ultimate Goal | |
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| Grasping the Significance of the Technology | |
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| Understanding the Inventor's Affinity Threshold for the Technology | |
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| Estimating the Benefits Associated with Commercializing a Technology | |
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| Setting Boundaries for the Need to Control the Technology | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Inventing Entrepreneurial Options | |
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| Overview | |
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| Entrepreneurial Intent, Capacity, and Value Creation | |
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| The "File Drawer Idea" (Low Market Potential, Low Entrepreneurial Capacity) | |
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| The Reluctant Entrepreneur (High Market Potential, Low Entrepreneurial Capacity) | |
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| The Lifestyle Entrepreneur (Low Market Potential, High Entrepreneurial Capacity) | |
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| The Inventing Entrepreneur (High Market Potential, High Entrepreneurial Capacity) | |
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| The Inherent Value of Intellectual Property | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Technology Licensing | |
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| Overview | |
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| The Technology Transfer Process | |
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| WARF: A Technology Transfer Office Example | |
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| Licensing: The TTO Perspective | |
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| When and Why to License a Technology | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Recommended Readings | |
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| Lifestyle Businesses | |
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| Overview | |
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| The Start-Up Option | |
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| What Is a Lifestyle Business? | |
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| The TTO and Lifestyle Businesses | |
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| Considerations for a Lifestyle Business | |
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| Entrepreneurial Options | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Cultivating an Entrepreneurial Identity | |
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| The Entrepreneurial Academic | |
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| Overview | |
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| Who Are Academic Entrepreneurs? | |
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| The Intellectual Challenge of Entrepreneurship | |
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| Business Challenges | |
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| Access to Mentorship | |
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| Access to Basic Business Knowledge | |
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| Personal Challenges | |
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| Prioritizing Goals | |
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| Repercussions Within the Academic Environment-Conflict of Interest | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Entrepreneurial Journey Model | |
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| Overview | |
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| Entrepreneurial Identities | |
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| The Entrepreneurial Journey Model | |
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| Case Study: TomoTherapy | |
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| Application of the Journey Model | |
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| Conclusions and Summary | |
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| Exercise | |
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| Endnotes | |
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| Sample Journeys | |
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| Overview | |
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| The Research Transfer Entrepreneur | |
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| The Sabbatical Entrepreneur | |
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| The Research-Driven Inventing Entrepreneur | |
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| The Dual-Role Inventing Entrepreneur | |
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| The Corporate Entrepreneur | |
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| The Business-Focused Inventing Entrepreneur | |
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| Lessons from the Journey Model | |
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| The Venture Path Is Not the Same As the Entrepreneur's Journey | |
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| Every Journey Is Unique and Personal | |
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| Is There an Optimal Path? | |
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| Capital Intensity and the Viability of Adopting Multiple Role Identities | |
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| The Journey Transforms the Inventor | |
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| Conclusions and Summary | |
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| Exercise | |
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| Endnotes | |
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| Assembling the Entrepreneurial Tool Kit | |
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| Understanding Industry Context | |
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| Overview | |
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| Industries and Markets | |
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| Industry Attractiveness and the Value Chain | |
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| Disruptive Technologies | |
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| Start-Up Location Choices and Their Implications | |
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| Cost and Differentiation Strategies | |
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| The New Business Road Test | |
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| Checking the Basic Premise | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Recommended Readings | |
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| Accumulating Business Skills and Knowledge | |
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| Overview | |
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| Forming the Business | |
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| Timing: When Do You Form a Start-Up? | |
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| Choice of Legal Entity | |
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| Allocation of Ownership | |
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| Selecting Officers and Directors | |
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| Service Providers | |
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| Writing and Using the Business Plan | |
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| Purpose of the Business Plan | |
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| Preparing to Write the Full Business Plan | |
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| The Nuts and Bolts of Business Plans | |
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| Exit Events | |
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| Getting Help | |
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| Appendices, Documentation, and Other Issues | |
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| Realistic Analyses | |
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| Realistic Customer Analysis | |
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| Realistic Market Analysis | |
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| Realistic Competitor Analysis | |
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| Realistic Budgeting | |
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| Realistic Revenue Projections | |
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| Introduction to Start-Up Financing | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Recommended Readings | |
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| Primer on Financing the Technology-Based Growth Company | |
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| Overview | |
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| Growth Financing | |
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| Layers of Funding | |
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| Milestone-Based Financing | |
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| Obtaining Private Financing | |
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| Beyond Seed-Stage Financing | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Recommended Reading | |
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| Visualizing the Road Ahead | |
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| The Managerial Challenge | |
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| Overview | |
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| Why Management Is Important | |
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| Vision and Implementation | |
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| Management Characteristics and External Perception | |
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| Risk Reduction | |
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| Management Models | |
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| Interacting with Professional Management | |
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| Natural Conflicts between Founders and Professional Management | |
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| Creating Mutual Incentives for Success | |
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| Separating Personal Issues from Business Issues | |
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| The Inventor as Manager | |
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| Conflict of Interest | |
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| Augmenting the Managerial Skill Set | |
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| Prioritization and Time Constraints | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Preparing for Growth | |
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| Overview | |
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| Understanding the Growth Strategy or Growth Type of the Business | |
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| Transitioning from Project Management to Business Administration | |
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| Crossing Moore's Chasm | |
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| The Changing Role of the Inventing Entrepreneur/Founder | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Exit | |
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| Overview | |
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| What Is an "Exit"? | |
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| Types of Exits | |
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| Financial Exits | |
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| Participatory Exits | |
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| Ownership/Control Exits | |
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| Less Than Perfect Exits | |
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| A Simplified Negative Exit Example | |
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| Control of the Organization at Failure | |
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| Control of the Intellectual Property at Failure | |
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| Long-Term Outcomes for Inventing Entrepreneurs | |
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| What Will I Do After the Exit? | |
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| Conclusions and Summary | |
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| Endnotes | |
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| Preserving Identity | |
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| Identity, Growth, and Learning on the Journey | |
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| Overview | |
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| Scientific Identity: Back to the Basics | |
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| The Underlying Characteristics of Inventing Entrepreneurs | |
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| Common Experiences of Inventing Entrepreneurs | |
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| The Importance of Luck | |
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| The Importance of the Team | |
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| The Search for Challenge and Growth | |
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| Conclusions and Summary | |
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| Endnote | |
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| Name Index | |
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| Subject Index | |