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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