The document discusses key aspects of developing an innovative culture and entrepreneurial mindset. It argues that culture, trust, risk-taking, collaboration, feedback, and accessibility are important foundations. An innovative culture values openness, transparency, mutual trust, going beyond comfort zones, learning from failures, sharing ideas, and ensuring integrity in relationships. It emphasizes developing the right cultural traits in future generations through open dialogue and experience sharing.
2. It
Starts
with
Culture
In
addi'on
to
the
excellent
academic
ins'tu'ons
and
R&D,
governmental
support,
and
access
to
investment
capital,
it’s
the
culture
that
really
makes
a
region
like
Silicon
Valley
so
unique
and
wildly
successful
3. It
Starts
with
Trust
Ø Trust
begins
with
open-‐ness
&
transparency
– EX:
People
don’t
trust
governments
which
aren’t
transparent
Ø Prac<ce
being
open
and
sharing
informa<on,
build
trust
Ø Trust
must
be
mutual
or
it’s
not
win-‐win
Ø Where
there
is
trust,
the
culture
is
good
4. Open-‐ness
Exercise
EXERCISE
is
to
prac<ce
being
open
and
build
trust
1. Get
an
open-‐ness
worksheet
2. Pick
a
partner
–
It
has
to
be
someone
you
don’t
know
3. Prac<ce
being
open
and
sharing
informa<on,
build
trust
by
interviewing
each
other
and
filling
out
the
work
sheet
5. Risk-‐Taking
Ø RISK-‐TAKING:
Innova<on
and
entrepreneurship
requires
risk-‐taking
in
addi<on
to
passion.
Ø Go
beyond
your
comfort
zone.
Either
in
doing
a
prototype
or
visi<ng
a
new
places
–
Cultural
Tourism
Ø Failure
is
good.
Making
mistakes
leads
to
valuable
experience
and
knowledge.
“I have not failed. I’ve just found 10,000 ways that won’t work.” Thomas Edison
6. CollaboraBon
Ø COLLABORATION:
People
need
to
share
ideas
and
work
on
problems
together,
even
compe<tors
Ø Lots
of
Networking
in
environment
of
open-‐
ness
• Krea<ve.Asia
is
a
great
example
Ø In
the
high-‐tech
world,
it’s
not
about
figh<ng
over
the
exis<ng
pie,
but
GROWING
the
pie
together
7. Integrity
Ø INTEGRITY:
High
level
of
integrity
required
when
being
open
and
collabora<ng
Ø
Non-‐Disclosure
Agreement
(NDA)
is
standard
procedure
and
captures
intent
Ø Rela<onship
Integrity
–
very
key
concept.
Always
making
sure
that
it’s
about
“Give
&
Take”
and
that
“Win-‐Win-‐Win”
is
the
objec<ve
8. Accessibility
Ø ACCESSIBILITY:
Access
to
experience
and
resources
to
new
entrepreneurs
Ø Budding
entrepreneurs
à
Go
to
events,
talk
to
strangers.
No
need
for
introduc<ons
(Asian
trait)
–
take
a
risk
and
introduce
yourself
Ø Successful
entrepreneurs
and
leaders
à
Be
open.
Talk
to
the
young
entrepreneurs,
share
your
valuable
advice
and
learning
9. ConstrucBve
Feedback
Ø FEEDBACK:
Absolutely
cri<cal
to
get
feedback
to
understand
what
you’ve
done
right
and
what
you’ve
done
wrong
Ø Needs
to
be
“construcBve
feedback”
NOT
“negaBve
criBcism”
Ø Delivering
“nega<ve
cri<cism”
to
make
yourself
feel
more
powerful
or
important
is
disgusBng
10. Jealousy
(and
lack
therof)
Ø JEALOUSY:
The
Silicon
Valley
exhibits
a
much
less
jealous
culture
than
many
places
in
Europe
and
Asia
Ø Instead
of
being
jealous
when
someone
else
does
beaer,
see
it
as
an
opportunity
to
have
a
rela<onship
with
someone
successful
Ø More
construc<ve,
and
less
destruc<ve
for
a
company,
for
a
region,
for
a
country
11. Develop
the
Right
Culture
Ø Key
characteris<cs
include
open-‐ness
and
collabora<on,
high
level
of
risk-‐
taking,
and
the
“people
networking”
environment.
Ø How
do
we
teach
ethics
and
ins<ll
high
society
integrity
into
the
next
genera<on
of
global
ci<zens?
12. What
is
InnovaBon?
InnovaBon
is
the
crea<on
of
beaer
or
more
effec<ve
products,
processes,
services,
technologies,
or
ideas
that
are
accepted
by
markets,
governments,
and
society.
Innova<on
differs
from
inven<on
in
that
innova<on
refers
to
the
use
of
a
new
idea
or
method,
whereas
inven<on
refers
more
directly
to
the
crea<on
of
the
idea
or
method
itself.
-‐
WIKIPEDIA
14. How
do
you
innovate?
Ø Understand
the
customer
and
the
market.
Listen
to
them.
You
might
try
“gut”
feel
(like
Jobs)
Ø Conceptualize,
Design
and
Prototype
Ø Collect
feedback,
lots
of
it
Ø Iterate,
iterate,
iterate
15. InnovaBon
Exercise
EXERCISE
is
to
pracBce
innovaBon
1. Pick
a
partner
–
someone
you
don’t
know
2. Interview
them
about
what
types
of
food
they
like
(spicy,
noodle
vs
rice,
ethnic),
etc,
etc.
3. Invite
them
over
to
dinner
and
design
a
MENU
that
you
think
would
appeal
to
them
à
write
out
the
menu
on
paper
on
tables,
drawings
get
bonus
points
17. Silicon
Valley
Access
to
Funding
Ø Ins<tu<onal
venture
capitalists
have
been
the
most
well-‐
known
source
of
funding
for
innova<ve
start-‐ups.
– Aeer
several
down
cycles,
VC’s
now
require
more
than
a
concept
for
funding
– Look
at
Trac<on
(customers),
Team,
Top
investors
(3
T’s)
Ø Entrepreneurs
need
to
look
to
other
sources
of
funding:
– Friends
and
family
funding
–
many
companies
including
Apple
started
with
friends
and
family
support
– Angel
investors:
Individual
or
groups
(like
the
Angel’s
Forum
or
the
Keiretsu
Forum)
– Government
programs:
Grants
from
Na<onal
Ins<tute
of
Health
(NIH),
Department
of
Energy,
and
others
18. What
Investors
are
Looking
For
Ø What
is
the
BIG
Need
or
Opportunity?
Ø What
is
your
solu<on
and
why
is
it
special
(technology
is
secondary
message)?
Ø Who
is
the
team
that
is
going
to
make
your
company
a
success?
Ø Who
are
the
compe<tors?
Ø What
is
the
financial
models?
How
much
do
you
need?
19. The
Three
“T”’s
Inves<ng
according
to
Tim
Chang,
Managing
Director
of
Mayfield
Partners
Ø TEAM
–
a
leadership
that
has
a
record
of
successful
companies
Ø TRACTION
–
customers
that
have
paid
Ø TIER
1
INVESTORS
–
have
other
investors
which
are
have
good
reputa<on
in
inves<ng
in
winning
companies
20. Accessing
Silicon
Valley
Ø Very
rare
that
Silicon
Valley
investors
invest
in
companies
outside
of
US
unless
they
have
investment
office
there
(ie
China)
Ø They
want
to
invest
in
things
they
are
familiar
with
and
people
they
know
and
trust
–
remember
the
3
T’s
Ø Need
to
understand
SV
ecosystem
an
develop
network
–
start
with
Cultural
Tourism
(a
la
Carlo
Donzella’s
talk)
