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2008-11-02
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Professor Tom Byers, Stanford University
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#Innovation
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Top 10 Elements of Technology Entrepreneurship for High-Growth Innovation
Professor Tom Byers, Stanford University
1. What is technology entrepreneurship? What is the difference between an idea and a business opportunity? Technology entrepreneurship is a style of business leadership based on the process of identifying high-potential, technology-intensive business opportunities, gathering resources such as talent and cash, and managing rapid growth using principled, real-time decision-making skills. An attractive business opportunity consists of a great value proposition, technically feasible products, strong intellectual property, a sustainable competitive advantage, a large potential market, and a proven business model. It can be based on either a revolutionary breakthrough in technology or an evolutionaryadvancement; and it can target an existing market or create an entirely new one. This entrepreneurial process is relevant for both independent startups and within established corporations. Disruptivetechnologies are particularly interesting as discussed in Christensen’s Innovator’s Dilemma. See Technology Ventures by Dorf and Byers as a textbook.
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