Chapter 08-1 - Essentials of Entrepreneurship ENTR 2001...

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Essentials of Entrepreneurship ENTR 2001 Copyright 2013 Jack M. Kaplan & Anthony C. Warren Patterns of Entrepreneurship Management Chapter 8 Technology Entrepreneurship Session 12
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Presentation Outline Definition of Technology Entrepreneurship Constraints Path Dependency with Examples Network Effects Technology Road-Maps Standards and Compatibilities Timing and Market Segmentation Topics Long-Tail Gartner Hype Cycle Technology Adoption Cycle Cooperative Intellectual Property Patents and Patenting Process Trademarks Copyright Trade Secrets Copyright 2013 Jack M. Kaplan & Anthony C. Warren
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Reality Check According to the USPTO “only about 2 percent of patents earn significant dollars for their inventors.” Experience indicates that it is rarely failure in technology that causes a lack of success; more likely it is shortcomings in the management team to fully comprehend the environment in which the technology innovation is embedded. Copyright 2013 Jack M. Kaplan & Anthony C. Warren
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Definition “What distinguishes technology entrepreneurship from other entrepreneurship types such as: social entrepreneurship small business management and self-employment is the collaborative experimentation and production of new products/services, assets, and their attributes, which are intricately related to advances in scientific and technological knowledge and the firm’s asset ownership rights”. Copyright 2013 Jack M. Kaplan & Anthony C. Warren
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Path Dependency The best technology does not always prevail – new innovations have to fit with existing infrastructure and history which can be highly constraining. For example: Path Dependency is the tendency of a past or traditional practice or preference to continue even if better alternatives are available. Also related to so-called Lock-in or Legacy Effects. “You can’t always start from here!” Copyright 2013 Jack M. Kaplan & Anthony C. Warren
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Path Dependency Example: Alternate Keyboards Copyright 2013 Jack M. Kaplan & Anthony C. Warren The original QWERTY keyboard designed for mechanical typewriters has not been replaced by later, supposedly better, innovations. Still Dominant after nearly 150 years!
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Network Effects A network effect (also called network externality) is the effect that a single new user of a good or service has on the value of that product to other people. When a network effect is present, the value, V, of a product or service increases as the Number, N, of people using it according to Metcalf’s Law V= For example, the introduction of the FAX machine had no value to the first user; a network needed to be in place for Metcalf’s Law to be effective.
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