Upload
kalyanaraman-rajaraman
View
27
Download
2
Embed Size (px)
Citation preview
Personal Entrepreneurial Competencies
& BioTech Entrepreneurship
K. RajaramanDirector, Entrepreneurship Development Institute
www.editn.in
Entrepreneurship as a Competency set
Entrepreneurship as “the dynamic, interaction between entrepreneurial attitudes, Entrepreneurial abilities, and entrepreneurial aspirations by individuals, which drives the allocation of resources through the creation and operation of new ventures.”
In short, entrepreneurship is a competency set that can be felt, measured and grown!
Is Entrepreneurship for everybody ?
95% will go as managers PECs help you become intrapreneurs – think and
act like the owner of your company PECs help you see, seek and grab the best
opportunities PECs help you take risks ad manage them
5% will become entrepreneurs We will see as to how PECs help business owners
Opportunity Seeking and Initiative
• Does things before being asked by customers or forced by events or competitors
• Acts to extend the business into new areas, products or services
• Seizes unusual opportunities to start a new business, obtain financing, equipment, land work space or assistance
Highlighting the importance of preserving the local varieties, Dr. S. Uma, Principal Scientist of the Crop Improvement Division states the example of the manoranjitham banana. The variety, is native to the Kolli Hills, and is immune to leaf-spot, a disease that takes at least 40 sprays of insecticide to be quelled. “When we went back to get a sample, we realised that it had vanished from cultivation,” says Dr. Uma. “So we developed a tissue culture for that variety with the help of the Department of Biotechnology and are perpetuating it once more among the local farmers in Kolli Hills. Many varieties have been given back to the farmers in this way.”
Opportunities
Look local – think Global Connect with local problems AYUSH validation, certification, new discoveries Restoring biodiversity Rediscover validity of ancient practices Modern branches of BT like Regenerative
Medicine, Biopharma, etc
Risk Taking
• Deliberately calculates risks and evaluates alternatives
• Takes action to reduce risks or control outcomes• Places self in situations involving a challenge or
moderate risk• Support required in Technology landscaping etc.
Risks Taken by Biotech-Entrepreneurs
Research risks IPR risks Financial risks Regulatory risks Market risk Political risks (in
Innovation, Efficiency and Quality
• Finds ways to do things better, faster, or cheaper• Acts to do things that meet or exceed standards of
excellence• Develops or uses procedures to ensure work is
completed on time or that work meets agreed upon standards of quality
Persistence
• Takes action in the face of a significant obstacle• Takes repeated actions or switches to an alternative
strategy to meet a challenge or overcome an obstacle
• Takes personal responsibility for the performance necessary to achieve goals and objectives
• Ability to take into account long gestation period in BT businesses (5 - 10years)
• Accept failures : Learn from them !
Persistence : Thomas Alva Edison
“I have not failed. I've just found 10,000 ways that won't work.”“Genius is one percent inspiration and ninety-nine percent perspiration.
Customer-centricity
• Makes a personal sacrifice or expends extraordinary effort to complete a job
• Pitches in with workers or in their place to get a job done
• Strives to keep customers satisfied and places long term good will over short term gain
• As far as possible, FOCUS RIGHT FROM BEGINNING OF YOUR RESEARCH ON THE VALUE TO END CUSTOMER
Profit & Wealth Will be Created When Product Delivers
Value to Consumers!
• Technologies do not create big wins unless they become a breakthrough consumer technology.
• Design thinking in mind : empathy for customer and end-user
• Selling stuff to each others moves the money but doesn’t create a vibrant, growing and sustainable industry.
• Only when the technology creates real value for customers (end-users) so that sustainable revenues are generated and wealth is created.
Information Seeking
• Personally seeks information from clients, suppliers or competitors
• Does personal research on how to provide a product or service (internet, journals, papers..)
• Consults experts for business or technical advice
Goal setting/ Targets
• Sets goals and objectives that are personally meaningful and challenging
• Articulates clear and specific long range goals• Sets measurable short term objectives
Systematic Planning and Monitoring
• Plans by breaking large tasks down into time-constrained sub-tasks
• Revises plans in light of feedback on performance or changing circumstances
• Keeps financial records and uses them to make business decisions
People Skills : Persuasion and Networking
• Uses deliberate strategies to influence or persuade others
• Uses key people as agents to accomplish own objectives
• Acts to develop and maintain business contracts• Network with successful biotech CEOs and
entrepreneurs, BT consultants, BT VC/Afs, IP experts, Regulatory authorities regularly
• Can you start a Chennai BT startup weekend network meets @ UIC : UIC can provide space….
People Skills : Persuasion and Networking
• Good scientists are capable of becoming good CEOs.
• For the Scientist: Things vs. People : Need to develop reasonably good people skills
• For the Businessperson: Communication with Scientists
Independence and self-confidence
• Seeks autonomy from the rules or control of others• Sticks with own judgement in the face of opposition
or early lack of success• Expresses confidence in own ability to complete a
difficult task or meet a challenge
The route to doing business
Support students to :• Understand your customer & competitors• Finetune your business model• prepare a business plan;• Study intellectual property and patenting strategy;• Understand raising and managing finance;• Learn commercial and marketing strategies;• Great clarity on regulation and compliance• Network with people and learn from company
case histories (don’t reinvent the wheel).
Read → Ideate → Pitch → Launch
• Get students trained in areas of weakness : Finance, marketing, Negotiation
• Run relevant MOOCs : NEN Learnwise• Supply good reading materials: BioTech
Entrepreneurship by Craig Shimasaki, Frugal Innovation by Radjou , Sharing Economy by Arun Sundararajan, How to win friends & Influence people by Dale Carnegie
• Organise ideation contests with user groups• Organise pitching contests for student ideas at
AF/VCs – will help sharpen business models
Faculty→ GEI : The Indian Ecosystem
Source: Global Entrepreneurship Index 2016
Faculty → Ecosystem Enhancement Process
1)Reinventing education: Top management E&I Vision
2)Throwing open doors: Building partnerships with E&I stakeholders
3)Breaking internal silos: Creating cross functional faculty teams
4)Incentivising E&I: Defining Institutional Entrepreneurship & Innovation policies
5)Walking the Talk: Committing faculty, space, funds, equipment
Faculty → Ecosystem Enhancement Process
1) Building an Alumni network: Survey, Connect & Tap
2)Training the Trainers: Building a breed of entrepreneurial teachers
3)Creating E&I beehives in Campus: Incubators and Accelerators
4)Hiring Top Guns: Attracting PIO Innovators & Scientists as faculty or atleast as advisors
5)Stop re-inventing the wheel: Learn from Best Practices
6)Entrepreneurial University : A Learning Organisation
Faculty → Startup Steps
College E&I Council Intra College E&I FDPs E&I Development Centre (EDC/E-cell) Active Student E&I Club E&I Electives / MOOCs (NEN-EDI program) Strong Industrial R&D program Tech or Business Incubator
College E&ICouncil
ALL FACULTY
BanksAngels
VCs
SuccessfulEntrepreneurs
LocalAlumni
R&D LabsCSIRICARICMR
LocalIndustry
MSMEs & Large
Industry
MentorsRetired
Entrepreneurs,Researchers
bankers
Tech Transfer Office (TTO)IP Advisors
BIRACGITA
NSTEDBDEITY
College E&ICouncil
ALL FACULTYR&D Labs/COE
Incubator
StudentsE&I Club THE
STA
RTU
P C
OLL
EGE
Wha
t the
inst
itutio
n m
ust d
o
Thank You!
http://www.editn.in/References:1. Global Entrepreneurship Monitoring Report 20152. Global Innovation Report 20153. Tamil nadu Vision 2023 Document 4. EDI Strategic Plan 2016-215. EMPRETEC, UNCTAD Entrepreneurship Handbook6. EU Action Plan for Entrepreneurship & Training 20147. MIT SkolTech Report 20148. OECD Report on University Entrepreneurial Ecosystems