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| Preface | |
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| About the Author | |
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| Technology Entrepreneurship for Scientists and Engineers | |
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| Scientists and Engineers as Entrepreneurs | |
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| The Transition to Entrepreneurship | |
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| Why Study Entrepreneurship? | |
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| The Role of Innovation and Entrepreneurship | |
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| Defining Innovation | |
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| Dispelling Innovation Myths | |
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| The Commercialization Process | |
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| Discovery | |
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| Opportunity Recognition | |
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| Testing Technology and Market Feasibility | |
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| Proctenting IP Assets | |
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| Protoyping | |
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| Testing the Market and First Customer | |
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| Deciding an a Lunch Strategy | |
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| Developing the Business Plan | |
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| Launching the Business | |
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| Summary | |
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| Discussion Question | |
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| Case Study: Innovation in the Palm of His Hand | |
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| Endnotes | |
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| Recongnizing Screening Technology Opportunites | |
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| Opportunity Recognition and Creation | |
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| Employing Creative Problem-Solving Skills for Opportunity Recognition and Creation | |
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| Sources of Opportunity | |
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| Study and Industry | |
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| Search the Patent Literature | |
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| Talk to Customers | |
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| Look into University Opportunities | |
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| Investigate Government Sources | |
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| Find New Value in Existing Technology | |
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| Other Sources | |
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| Screcning Technology Opportunities | |
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| Gauge Technology Readiness | |
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| Determine IP Status | |
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| Identify Potential Market Appliations | |
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| Estimate Resource Requirements | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: The Art of Invention - Yoshiro Nakamatsu and Claude Elwood Shannon | |
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| Endnotes | |
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| Designing and Developing a Technology Start-up | |
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| Developing a Business Concept | |
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| Features versus Benefits | |
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| Conducting a Feasibility Analysis | |
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| Analyzing the Industry | |
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| Market Analysis | |
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| Analyzing the Competition | |
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| Analyzing Product/Service Feasibility | |
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| Analyzing the Management Team | |
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| Building an Effective Business Model and Assessing Capital Requirements | |
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| Is This Business Feasible? | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: Start-ups Begin with a Vision-and This Is a Big One | |
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| Endnotes | |
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| Bmilding an Effective Team | |
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| Forming an Effective Founding Team | |
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| The Perils of Technology Founding Teams | |
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| Characteristics of Effective Teams | |
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| Extending the Founding Team | |
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| Professsional Advisors | |
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| Boards of Directors | |
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| Avoding Traps When Forming Boards and Management Teams | |
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| Using Independent Contractors | |
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| Other Resources to Extend the Team | |
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| The Move from Start-Up to Rapid Growth | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: Turnings a Scientist into an Entrepreneur | |
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| Endnotes | |
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| Developing and Protecting Intellectual Property | |
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| The Concept of Intellectual Property | |
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| The Theory Behind IP Protections | |
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| Incentives to Invent | |
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| Incentives to Disclose | |
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| Incentives to Commercialize | |
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| Trade Secrets | |
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| Copyrights | |
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| Digtial Millennium Copyright Act | |
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| Fair Use | |
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| Trademarks | |
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| Trademarks and the Internet | |
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| Patents | |
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| What Constitutes a Patentable Invention? | |
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| The Five Classes of Patents | |
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| Types of Patents | |
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| Filling for a Paient | |
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| Summary | |
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| Discussion Question | |
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| Case Study: Gordon Gould-The Father of Laser Technology | |
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| Endnotes | |
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| Patent and Trademark Strategy | |
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| Protecting Patents | |
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| Establish a Temporary Monopoly | |
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| Improve Financial Performance | |
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| Increase Competitiveness | |
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| Deciding When and If to Patent | |
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| Understanding Patent Infringment | |
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| Case Study: Settling Patent Infringement Can Be Lucrative | |
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| Protecting Trademarks | |
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| Trademarks and the Internet | |
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| Licensing Intellectual Property | |
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| The Licensor's Perspective on the Licensing Process | |
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| Managing the License | |
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| The Licensee's Perspective on the Licensing Process | |
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| The License Agreement | |
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| Grant Clause | |
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| Performance Clause | |
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| Secrecy Clause | |
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| Payment Clauses | |
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| Granback Clause | |
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| Term | |
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| Additional Clauses | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: Skycar-Licensing a Dream | |
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| Endnotes | |
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| Technology Entrepreneurship Stratecy | |
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| High Technology Product Development Strategies | |
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| Entreprencurial Product Development Model | |
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| Factors that Affect the NPD Process | |
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| Measuring Success and Risks | |
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| Managing the Risk of R&D | |
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| Outsourcing Technology Innovation | |
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| Developing a Regulatory Strategy | |
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| Summary | |
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| Discussion Question | |
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| Case Study: IDEO-Where Innovation Is the Culture | |
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| Endnotes | |
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| Technology Transition and Entry Strategies | |
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| Transitioning from Project to Operations | |
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| Build a First-Class Team | |
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| Develop the Mission | |
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| Deciding on a Launch Strategy | |
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| License the Technology | |
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| Sell the Technology | |
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| Start a Company | |
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| Form a Strategic Alliance | |
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| Deciding on an Operational Strategy | |
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| Process Flow | |
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| Organizational Architecture | |
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| Orgnizing from a Legal Perspective | |
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| R&D and Prelaunch Forms | |
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| Legal Forms That Protect the Owners | |
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| Making a Decision about Form | |
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| Changing Legal Forms | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: Quantum Dots | |
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| Endnotes | |
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| Technology Adoption Patterns and Marketing Strategy | |
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| The Nature of High Technology Markets | |
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| Market Uncertainty | |
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| Technological Uncertainty | |
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| Competitive Uncertainty | |
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| Know-How, Complexity, and velocity Effects | |
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| The Technology Adoption Cycle | |
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| Building Critical Mass for a Tornado | |
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| After the Tornado | |
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| Determinning a Marketing Approach | |
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| Understanding Customer Needs | |
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| Pricing High-Technology Products | |
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| Defining the Components of Price | |
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| Coverging on a Price Point | |
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| Constructing a Pricing Strategy | |
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| Developing a Marketing Plan | |
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| Constructing a One-Paragraph Plan | |
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| Marketing Tools | |
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| Promoting High-Technology Products | |
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| Using Preannouncements | |
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| Developing a Brand Presence | |
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| Taking Advantage of Publicity | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: Finding the Right Formula for Music With Science | |
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| Endnotes | |
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| Start-Up Financial Strategy | |
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| The Business Model | |
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| Developing a Business Model | |
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| Struiegic Positioning in the Value Chain | |
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| Identify Sources of Revenue | |
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| Identify the Cost Drivers | |
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| Capture Value with Pricing, Cost, and Financing | |
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| Test for Weaknesses in the Business Model | |
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| Launch and Measure the Business Model | |
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| Understanding Why Business Models Fail | |
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| Predictions About the Future are Based on Faulty Logir | |
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| The Business Model Does not Create and Capture Value | |
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| The Entrepreneur Has not Identified the Customer | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: Pandora-There Must Be a Business Model that Works | |
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| Endnotes | |
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| Funding the Technology Start-up | |
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| Risks and Stages of Funding | |
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| The Cost of Raising Capital | |
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| Bootstrapping the Start-up | |
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| Government Funding Sources | |
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| Small Business Innovation Research Grants | |
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| Small Business Technology Transfer Research Program | |
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| Small Business Investment Company Program | |
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| The Small Business Administration | |
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| Seed Capital | |
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| Friendly Money | |
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| Debt Financing | |
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| Equity Arrangements | |
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| Strategic Partnerships and Other Intermediaries | |
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| Start-up Funding | |
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| Angel Investors and Networks | |
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| Funding Biotechnology | |
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| Seed Stage | |
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| First-Round Funding: FDA Phase I Testing | |
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| Second-Round Funding: The Business Model | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: Alibaba - From Apartment to Stock Exchange | |
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| Endnotes | |
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| Funding Growth | |
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| Financial Strategy for Growth | |
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| VC Funding | |
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| VC Screening Process | |
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| Timing of Funding | |
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| The Aftermath | |
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| The Private Offering | |
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| Small Corporate Offering Registation | |
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| Direct Public Offering: Regulation A | |
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| The Initial Public Offering | |
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| The IPO Process | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: From Riches to Rags and Back? When Going public May Not be the Right Path | |
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| Endnotes | |
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| Technology Valuation | |
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| The Drivers of Value | |
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| When Value Is Discounted | |
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| Financial Models for Assessing Value | |
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| Valuations Based on Cost | |
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| Income Method: The Pro Forma Discounted Cash Flow Model | |
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| The Real Options Model | |
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| Venture Capital Methods | |
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| The Hockey Stick Approach: The Basics | |
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| The Issue of Dilution | |
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| Valuing a License Agreement | |
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| Summary | |
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| Discussion Questions | |
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| Case Study: Value is in the Eyes of the Bcholder | |
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| Endnotes | |