KYIV CITY OPEN DOORS

Roman Kikta

Mobility Ventures April 21, 2012 Kyiv, Ukraine

The Roles of Entrepreneurship & Innovation

“Entrepreneurship is about… those who dare to dream the dreams and are foolish enough to try

and make their dreams come true”

- Vinod Khosla

General Partner, Khosla Ventures

Co-Founder Sun Microsystems

“Entrepreneurs are dreamers who do! They have the imagination to create a vision

and gumption to make it happen. They have the drive to overcome fears and

the passion to succeed”

“Confidence is the companion of success.” --Chinese Proverb

The Past 100 Years: The Golden Age for

Innovation is part of American culture

Challenging economic times can create incredible opportunities for innovators, and technology is the home of innovation. Disruptive capabilities will emerge — in products and services, as well as business models.

Challenging economic times can create incredible opportunities for innovators

Challenging economic times can create incredible opportunities for innovators

Top Innovations in Past 25 Years

13. Air bags 14. ATM 15. Advanced batteries 16. Hybrid car 17. OLEDs 18. Display panels 19. HDTV 20. Space shuttle 21. Nanotechnology 22. Flash memory 23. Voice mail 24. Modern hearing aids 25. Short Range, High Frequency Radio

1. The Internet 2. Cell phone 3. Personal computers 4. Fiber optics 5. E-mail 6. Commercialized GPS 7. Portable computers 8. Memory storage discs 9. Consumer level digital camera 10. Radio frequency ID tags 11. MEMS 12. DNA fingerprinting

The Road to Funding

“Vision Without Money Is a Hallucination” - Dr. Allan MacDarmid, Ph.D.

Nobel Laureate

Entrepreneurs With Vision

“Companies are made possible by Entrepreneurs who think everything is possible and strive to make it happen!”

Entrepreneurs & Opportunities

“Opportunities are about creating value, not just lowering costs…….. The failure of some entrepreneurs who believe they haven’t come in at the right cost is that they have not communicated value”

- Peter Drucker

What Makes an Entrepreneur?

Timmons ‘94:

- Commitment

- Determination

- Leadership

- Opportunity Obsession

- Tolerance of Risk & Ambiguity

- Creativity

- Self Reliance

- Ability to Adapt

- Motivation to excel

What is the “DNA” of an entrepreneur? A review of academic literature yields a number

of characteristics common to Entrepreneurs:

Schen’94,

Solomon ‘89:

- Innovative

- Action Oriented

- Extremely Self Confident

- Highly Autonomous

Is possession of these characteristics enough to ensure success as an entrepreneur?

What Makes a Successful Entrepreneur?

SUCCESSSFUL

ENTREPRENEUR

Quality

Opportunity

1) A disruptive technology 2) A large market 3) And manageable levels of: Market risk Technology risk Team risk Financial risk

Execution!

1) Business formation 2) Product development 3) Customer development 4) Financial management

Strong

Business Plan

1)Start-up 2)Technology 3)Customer 4)Financials

You may be born with entrepreneurial characteristics but……

...... EXPERIENCE is what makes a successful entrepreneur

Entrepreneurial

Characteristics

The DNA:

- Commitment / Determination

- Leadership

- Opportunity Obsession

- Tolerance of Risk & Ambiguity

- Creativity & Innovative

- Self Confident, Reliance

- Ability to Adapt

- Self-Motivation to excel

Ideas

A Good Idea Is Not Enough --Good Ideas Abound

First to Market is a False Comfort

There is Always a Competitor—Usually Several

Must Have a Viable Business Proposition

Execution Intelligence

“A business idea is worthless unless the entrepreneur behind it has the skills,

knowledge and experience to execute it”

“It’s not enough to build a better mouse trap. You must really want to kill mice.”

– Bill Joos

Cofounder, Garage.com

IDEAS

A Case Study: Would you invest?

• Addresses Multi $$$ Billion Market

• Global opportunity

• Mobile/ wireless devices

• Patented Solution for Problem

• Most “Innovative Product of The Year

• Enormous ‘WOW’ factor

A Case Study:

A Case Study: The Reality

• Limited usability

• Cost – not competitive with alternative solutions

• Lack of support by major OEMs

• Limited market acceptance

• A $$+Million write off

“The best way to predict the future is to create it” – Peter Drucker

“You are never too old to set another goal or to dream a new dream.” – C.S. Lewis

“Entrepreneurs can change the world”

Some Tips:

• Start with a vision of how you want the company to look.

• Don't listen to anyone (unless they agree with you and know what they’re talking about).

• Manage what you can control – Spending

– Growth & earning assumptions

• Focus on Quality

• Lower Risk

• Reduce Debt

• Recruit top people into management.

• NEVER GIVE UP!

Suggested Reading List

Thank you

For More Information … Please visit:

www.MobilityVentures.com

or email me at:

Roman@MobilityVentures.com