Presentation at Siemens

1. Why you will Fail to be a
Successful Technology
Entrepreneur
Dr. Andrew Maxwell
Bergeron Chair in Technology Entrepreneurship
August 21, 2018

2. Overview of this experience….
• Introdcutions?
• Why is Technology Entrepreneurship Important?
• Can you Learn about Technology Entrepreneurship?
• Is it possible to Link Design Thinking to Venture Creation?
• What are the Myths of Entrepreneurship?
• How did your perceptions of Technology Entrepreneurship
Change?

3. University of Toronto
WhatIdid:
• WorkedatInnovationsFoundation
• TaughtTechnologyCommercializationatRotman
• TaughtTechnologyEntreprenerushipinMBiotech
• StartedtheExceler@tor–Technologyincubator
WhatIobserved:
• Wedidn’t knowhowtoteachentrepreneurship
• Technologycommercializationprocessisflawed
• Universitiesdidn’tknowhowtomanageeither
• No-oneunderstoodtheimportanceoftechnologyventures
3

4. Importance of
Commercializing
University Research
Why is Technology Entrepreneurship Important?

5. Importance of Experiential Learning
5
Concrete
Experience
Reflective
Observation
Abstract
Conceptualization
Active
Experimentation
Kolb, D. A. (1984). Experiential learning, Prentice

6. University of Waterloo
WhatI did
• PhDin Managementof Technology
• JoinedCanadianInnovationCentre
• TaughtEngineers- TechnologyEntrepreneurship
WhatI observed
• Wedidn’tstudytheentrepreneurialprocess
• Weignoredthepeoplesideof entrepreneurship
• Wehada poor understandingof investmentdecisions
6

7. Place your screenshot here
7
• Use a Sequential
Elimination Process
• Make non -
compensatory decisions
• Audit trust behaviours
Lessons from Dragons’ Den

8. Active Experimentation
Entrepreneurial Engineering

9. What is Entrepreneurial Engineering?
WhatI amdoing
• Teaching Creative Problem Solving/Design Thinking
• Leading International Entrepreneurial Experience
• Supporting co-curricular activities
How I am doingit
• Transforming students’ learning in class
• Guiding experiential learning journeys
• Fostering co-curricular learning activities
• Linking design thinking to venture creation
9

10. The
Marshmallow
Challenge
TomWujec
Autodesk
https://www.ted.com/talks/tom_wujec_build_a_tower In class
Experience

11. In class20sticksofspaghetti oneyardtape oneyardstring onemarshmallow+
+
+
The Marshmallow Challenge:
In teams, build the tallest free standing
structure in 18 minutes
Use only

12. Orie
nt
0
Pl
an
18
Minutes
Ta-
Da!
Bui
ld

13. Orie
nt
0 18
Minutes
Pl
an
Oh-
Oh!
Bui
ld

14. Prototyping
Matters
Lesson One:

15. Lesson Two:
Diverse
Skills
Matter

16. Experience
Shared
Language
Common
Prototyping&
Facilitation

17. Can you learn about Technology
Entrepreneurship?
• What is it?
• What do we know about successful Technology
Entrepreneurs?
• Is there a Venture Creation Process?
• How will you decide if you are destined to be a Successful
Technology Entrepreneur?

18. The Myths of Technology
Entrepreneurship

19. It starts with a great idea

20. New ventures are started by
individuals

21. Entrepreneurs are risk takers

22. Entrepreneurs are motivated by
money

23. Your boss knows more than you

24. Venture creation process is linear

25. Important to focus on good solutions

26. Best Ideas Win

27. Make your customer take a leap of faith

28. Important to focus on the right project

29. Importance of
Commercializing
University Research
What did you learn today?

30. Andrew Maxwell PhD
Associate Professor,
Bergeron Chair in Technology
Entrepreneurship
Lassonde School of Engineering
bestmax@yorku.ca
www.innovationcartography.com
Making sense of the pieces