Turn technology into profits
In this live recording, Richard Caro discusses what we call “Applied Entrepreneuring”. It is about the “rules of the road” for turning scientific and technological advances into profitable businesses.
- Part A. Applied Entrepreneuring; Ingredients of the Business Concept (first 28 mins)
- Part B. Common (Avoidable) Startup Errors (starts at minute 24:20)
- Part C. Value Creation Framework (starts at minute 48:14)
Most high tech. entrepreneurs learn how to create new ventures as a result of trial and error. While there is no escaping the need for some of that, we believe that many entrepreneurs waste a lot of time and money making errors that could have been avoided – the same errors that have been made by many entrepreneurs before them.
This workshop has three themes.
- The key ingredients an entrepreneur needs to put together to create a successful business concept;
- The common, and avoidable errors many entrepreneurs make, and how we can avoid making them; and
- The Value Milestone Framework, which enables you to cross the finish line faster and with less expense.
The workshop was recorded in Mexico City in 2006 in front of an audience of local entrepreneurs, academics and policy makers, as part of the launch of a national Life Sciences Innovation Competition, organized by an industry/government consortium led by Merck Sharpe and Dohme. We keep this on the website because the principles are still very relevant.
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This lecture is also available on DVD (for “lean back” viewing).
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