Five innovations have changed the startup world:
1. Applying the scientific method to startups through experiments and iteration to learn about customers and business models.
2. Developing business models using the Business Model Canvas to validate assumptions with facts from experiments.
3. Conducting Customer Discovery to understand customer problems rather than focus on technology solutions.
4. Using the Lean Startup methodology to build minimum viable products to test learning hypotheses rather than fully developed products.
5. Defining metrics like the AARRR framework to measure acquisition, activation, retention, revenue, and referrals to guide business model optimization.
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Five Innovations
1. Startups 2013
how five innovations have changed
the startup world, forever
Keith McGreggor
Director of VentureLab @
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4.
5. America’s Best Engineering Graduate Schools 2012
1. ! Massachusetts Institute of Technology
2. ! Stanford University
3. ! University of California — Berkeley
4. ! Georgia Institute of Technology
5. ! California Institute of Technology (CalTech)
6. ! University of Illinois — Urbana-Champaign
7.! Carnegie Mellon University
8.! University of Michigan — Ann Arbor
9.! University of Texas — Austin
10.! Cornell University!
Eighth
Year!
6.
7.
8.
9. 7/14/09 Enterprise Innovation Institute
GT Research Distribution
Over half a billion dollars total R&D on campus for FY2009!
12
College of
Engineering
GTRI
College of
Sciences
Research Centers
College of
Computing
Other
> $500,000,000 / year
EACH YEAR AT
14. Decisions
LICENSE
Inform Office of Technology
Licensing
START-UP
Assign to Catalyst
LIFESTYLE COMPANY
Advice team on viable
commercialization strategies.
SCIENCE PROJECT
Put technology on hold
Contact professor every
six months for an update
Research
{
80%
10%
10%
15. inventions reviewed 250+
new projects 35+
ongoing projects 83
new companies created 30
external investment in new and
existing VL companies in 2012
$185M
total of angel & VC
investments in VL companies
$700M+
2012
16.
17. 1 Rice Alliance for Technology and Entrepreneurship Rice University United States
2 VentureLab Georgia Tech United States
3 UB Technology Incubator State University of New York, Buffalo United States
4 NDRC LaunchPad Trinity College Dublin Ireland
5 SETsquared Universities of Bath... United Kingdom
6 Innovation Centre University of the Sunshine Coast Australia
7 Tech 20/20 University of Tennessee United States
8 ATP Innovations University of Sydney Australia
9 STING KTH Royal Institute of Technology Sweden
10 NCTU Innovation Incubation Center National Chiao Tung University Taiwan
11 Youngstown Business Incubator Youngstown State University United States
12 I3P Politecnico di Torino Italy
13 Vermont Center for Emerging Technologies University of Vermont United States
14 Jon Brumley Texas Venture Labs University of Texas at Austin United States
15 Startup Sauna Aalto University Finland
16 InNOLEvation Accelerator Florida State University United States
17 TEC University of Alberta Canada
18 ASU Venture Catalyst Arizona State University United States
19 Oxford Entrepreneurs Incubation Centre Oxford University United Kingdom
&
#1 Engineering/Science Incubator
#1 Early Stage Incubator
59. design experiment ...
segments
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prop.
revenue streams
customersoffer
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channels
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A controlled experiment
generally compares the results
obtained from an experimental
sample against a control
sample, which is practically
identical to the experimental
sample except for the one
aspect whose effect is being
tested (the independent
variable).
60. run it in the world ...
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channels
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A controlled
experiment
generally
compares the
results obtained
from an
61. ... and iterate!
segments
value
prop.
revenue streams
customersoffer
relationships
channels
financial
✔
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A controlled
experiment
generally
compares the
results obtained
from an
105. 105
Cost per Visitor = $0.75
Visitor to Raw Lead
3%
Raw to Qualified Lead
20%
Qualified Lead Cost =
0.75
0.03 * 0.20
= $125
106. 106
Cost per Visitor = $0.75
Visitor to Raw Lead
3%
Raw to Qualified Lead
20%
Closed Deal Cost =
0.75
0.03 * 0.20 * 0.10
= $1250
Qualified Lead to Closed Deal
10%
107. 107
Cost per Visitor = $0.75
Visitor to Raw Lead
3%
Raw to Qualified Lead
20%
= $1250
Qualified Lead to Closed Deal
10%
Marketing Cost
Sales Cost
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