1 dingman center for entrepreneurship smith school of business university of maryland hcil annual...

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Dingman Center for Entrepreneurship

Smith School of Business

University of MarylandHCIL Annual Symposium

May 31st, 2007

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Venture Creation Process Ideation Entrepreneurial Mindset Assessment Start the Business Implementation Iteration

Agenda

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Ideation

Iteration

AssessmentImplementation

Opportunity Evaluation: Venture Creation Process

• Systematize the process

• Disciplined decision • Virtuous cycle

• Think Big Ideas

• Find a Business Model

• Prove

• Improve

THIS HCI MODEL IS THE SAME AS THE VENTURE

CREATION

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My Definition……..Entrepreneurial Definitions

Create Value!

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Finding an Opportunity(IDEATION)

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Global Indicators

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Interface is Everywhere

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Find a Business Model that works(Assessment)

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Finding a Model

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What fails

• Static experiences

• Complicated

• Distracting

• Inefficient

• Incomplete

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1. Problem

2. Addressable Market

3. Your Solution

4. Team

5. Worthwhile

IMPLEMENTATIONFive Questions

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Market Challenges

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Is it Worth it?

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ITERATIONImprove the Model: Venture Creation Process

• Ask the right questions

• Learn from your mistakes

• Think BIG IDEAS!

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Summary Solve a real problem Understand Customers Implement

Low Tech/Low Cost Rollout strategy Leverage your Skills Iteration Improve the Experience

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Guidelines for Success