1.0 Introduction
January 8, 2004
Joel Adams
Ken Stuart
Engineering Science 466b © J. Adams & K. Stuart 2002-2003
Introduction
1.1 Welcome
Welcome to ES 466b!
Technology, Entrepreneurship, and Innovation
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.2 Instructor Introductions
Mr. Joel Adams
• Onsite Manufacturing (Environmental Technology)
• Founder and President
• BESc (UWO, Electrical & Computer Engineering)
• HBA (Richard Ivey School of Business)
Mr. Ken Stuart
• EK3 Technologies (Digital Signs and Narrowcasting)
• Co-Founder and Chief Technology Officer
• B.Eng. (Ryerson)
• MESc (UWO, Electrical & Computer Engineering)
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.3 Addressing the Questions…
Do I need a business partner? What kind of investor is right
for my business?
Is my idea viable? Do I need to incorporate? What is Cash Flow?
Who can I trust to talk to?
How to I raise money and
how much do I need?
How do I get started?
Do I need to patent my idea? What is a business plan?
Do I need an NDA?
Should I include friends and
What is the market size for
family in my venture?
my idea?
How do I turn my idea
Who are my competitors?
into a viable business?
Is government assistance
available?
Where are the opportunities in
the market?
Can I afford to take the risk?
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.4 Key Questions
1. What is technological entrepreneurship?
2. How do innovative technologies become successful
products in the market?
3. How do I write an effective new venture business
plan to raise money and plan my business?
4. How do I start and manage a successful technology
based business?
5. What is the role of an engineer in a start-up?
6. Do I want to become an entrepreneur?
7. What other exciting career options are there?
8. Where can I go for help?
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.5 Key Topics
1. Technology & Marketing
• History of Innovation and Emerging Technologies
• Market Research and Competitive Analysis
• New Technology Adoption
• Marketing High Technology
2. Business Planning
• Finding, Evaluating, and Choosing an Idea
• Writing and Presenting a Business Plan
• Starting and Managing a New Venture
3. Career Development
• Entrepreneurship vs. Intrepreneurship
• Small Business vs. Large Business
• Engineering vs. Management
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.6 Course Plan
1. Technology & Marketing
• Week 2 - Week 5
• Evaluation: Market Research Report
2. Business Planning
• Week 6 - Week 12
• Builds on Marketing Component
• Evaluation: Business Plan and Presentation
3. Career Development
• Week 11 and Ongoing
• “War Stories” – Guest Speakers, Tours
• Evaluation: Career Profile Report
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.7 Course Evaluation Scheme
1. Market Research Report……………….. 20 %
2. Business Plan
• Presentation …………………………... 10 %
• Report…………………………………. 50 %
3. Career Profile……………………………. 10 %
4. Class Participation………………………. 10 %
Total *
100 %
THERE ARE NO EXAMS OR TESTS IN THIS COURSE!
* Students must pass ALL components to pass the course
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.8 Market Research Report
= 20% of Total Mark
Individual Assignment
4 Pages of Worksheets
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Choose an emerging technology that you feel will influence your
engineering discipline in the future
Perform market research and analysis on your topic
Fill-in the provided report over the next five classes
Use a similar process for your group business plan
Choices must be approved by the instructors
Assigned in Week Two
Due at Mid-Term
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.9 New Venture Business Plan Project
+ 50% of Total Mark
Written Group Assignments (3-5 Students)
15-20 Pages
• Write a New Venture Business Plan offering products and/or
services based on a technology of your choice
• Your business idea needs to be approved by the instructors
Form your groups ASAP for approval by the instructors
Due End of Term
+ 10% of Total Mark
Group PowerPoint Presentation
15-20 Minutes with Questions
• “Pitch” your Business Plan to a panel of new venture experts
Presentations made during Last Class(es)
= 60% of Total Mark (Document + Presentation)
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.10 Career Profile Report
= 10% of Total Mark
Individual Assignment
1 Page
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What were the key lessons and take-away points?
What did you learn (about yourself) in this class?
What are your near term and long term career goals?
Do you want to be an entrepreneur? Why or why not?
Use examples from guest speakers and class readings
Include specific industries or companies that interest you
Due End of Term
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.11 Participation
= 10% of Total Mark
Individual Participation
Each and Every Class
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Quality and Quantity
Be prepared to answer questions
Offer your own experience
Attendance at Lectures!
Attendance for Guest Speakers!!!
Aim for for the full 10%!
Class Picture Next Week
Feedback at Mid-term
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.12 Texts
Required Text (Available Soon):
Making Technology Happen
How to find, exploit and manage innovative products,
services and processes. - Denzil J. Doyle -
Recommended Readings:
Inside the Tornado
Marketing strategies from silicon valley’s cutting edge
- Geoffrey Moore -
Winning Market Leadership
Strategic market planning for technology driven
businesses - Adrian Ryans et. al. (Ivey) -
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.13 Schedule and Contact Information
• Lectures
• Thursdays 7:00-9:00PM
• Rm. 2116 Elborn College
• Guest Speakers and Tours
• To Be Announced
• Before/After Class or Alternate Tuesday Nights
• Office Hours
• By Appointment, UWO Research Park
• Before Class, Thursdays 6:00-7:00PM Rm. 2116
• Contact Information
• Joel Adams, jadams@uwo.ca (Preferred)
• 858-5018 (UWO Research Park)
• Ken Stuart, kstuart@uwo.ca
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.14: Entrepreneurship as a Process
Three Major Steps:
1. The search for exploitable technology
• Recognition and Evaluation of OPPORTUNITIES
• Technology Risk
2. Planning the New Venture
• Marshalling RESOURCES in the presence of RISK
• Business Risk
3. Managing the New Venture
• Building the NEW business venture
• Execution Risk
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.15: Technology, Products, and Markets
Technology Push
Technology
Market Feedback
Modifies
Technology and
Products
Products
Markets
Market Pull
From Making Technology Happen, D. Doyle © 2002 by Doyletech Corporation
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.16 Business Plan Components
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Executive Summary
Introduction
The Industry
The Opportunity
Products and Services
The Market
Competition
Management Team
Financial Projections
Investment Requirements
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.17 Take-Away
• Start to think about an emerging technology for your
Market Research Report (look in magazines or the
web and ask your Engineering Professors!!!)
• Start forming groups of 3-5 people for Business Plan
• Discuss possible Business Plan ideas with group
Mini Assignment
• What do you feel are the greatest engineering
achievements of the past century (or of all time)?
• Choose one interesting historical
invention/technology for discussion next week.
• Be prepared to discuss/defend its importance.
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
1.18 Next Week
• Key Definitions and Concepts used in this Course
• What is Technological Entrepreneurship?
• What is Technological Innovation?
• The Role of the Entrepreneur
• The Role of the Engineer in Entrepreneurship
• A Brief History of Innovation
• Mini-Assignment
• Greatest 20th Century Engineering Achievements
• Sample Emerging Technologies
• Market Research Report Assigned
• Business Plan Groups Solidified
Engineering Science 466b © J. Adams & K. Stuart 2002-2004
Introduction
FOR YOUR INTEREST…
Technological Entrepreneurship Certificate
• Proposed 6 class program for Engineers
• ECO20, ES211, BUS257, BUS299, ES466, Law
• Some people may be able to graduate this year
• Ask about it after class…
Engineering Science 466b © J. Adams & K. Stuart 2002-2004