Basics of Creativity, Innovation and The Business Incubator Players.pptx

INNOVATION AND
BUSINESS PLAN (CIBP)
Module 1
Basics of Creativity, Innovation and
The Business Incubator Players
Dr. Mitesh J Patel, Assistant Professor, SK MBA –
Visnagar, 94262 49951
Presented
By:

Creativity
Dr. Mitesh J Patel, Assistant Professor, SK MBA - Visnagar
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 The English word creativity comes from the
Latin term “creare” means to create, to
make.
 Creativity is a phenomenon whereby
something new and valuable is formed.
 The created item may be intangible (such as
an idea, a scientific theory, a musical
composition, or a joke) or a physical object
(such as an invention, a printed literary work,
or a painting).

Creativity
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 Creativity is the ability to transcend traditional
ways of thinking or acting, and to develop new
and original ideas, methods or objects.
 It’s an ability
 It transcends traditional ways of thinking or acting
 It develops new and original things

How can I become more
creative?
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1. Aim for output
2. Be willing to go deep
3. Be open and playful
4. Capture your ideas
5. Adopt or hire outside perspectives
6. Feel free to procrastinate: If you are
motivated to solve a problem, procrastinating,
exercising, or sleeping on it can lead to
divergent thinking and more possibilities

"Four C" model of a Creativity
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 James C. Kaufman and Beghetto introduced a "four C"
model
 mini-c : Transformative learning involving personally
meaningful interpretations of experiences, actions, and
insights.
 little-c : everyday problem solving and creative expression.
 Pro-C : exhibited by people who are professionally or
vocationally creative though not necessarily eminent.
 Big-C : creativity considered great in the given field.
This model was intended to help accommodate models and
theories of creativity that stressed competence as an essential
component and the historical transformation of a creative
domain as the highest mark of creativity. It also, the authors

Myths surrounding creativity
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 MYTH 1: Creativity is only needed at the top
 MYTH 2: People are creative (or not) based on
what they do
 MYTH 3: Creativity can’t be developed
 MYTH 4: Creativity isn’t my job
 MYTH 5: My technical skills and experience are
enough

Innovation
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 Innovation can refer to something new, such
as an invention, or the practice of developing
and introducing new things. An innovation is
often a new product, but it can also be a new
way of doing something or even a new way of
thinking.
 Innovation is the practical implementation
of ideas that result in the introduction of
new goods or services or improvement in
offering goods or services

Innovation
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 Innovation defines as "a new or changed entity
realizing or redistributing value".
 A common element in the various definitions is
a focus on newness, improvement, and spread
of ideas or technologies.
 Innovation often takes place through the
development of more-effective products,
processes, services, technologies, art
works or business models
that innovators make available
to markets, governments and society.

Innovation
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Peter Drucker wrote:
 Innovation is the specific function of
entrepreneurship, whether in an existing
business, a public service institution, or a new
venture started by a lone individual in the
family kitchen. It is the means by which the
entrepreneur either creates new wealth-
producing resources or endows existing
resources with enhanced potential for creating
wealth

Creativity and innovation
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 Innovation is distinguished from creativity by
its emphasis on the implementation of creative
ideas in an economic setting.
 Amabile and Pratt in 2016, drawing on the
literature, distinguish between creativity "the
production of novel and useful ideas by an
individual or small group of individuals working
together” and innovation "the successful
implementation of creative ideas within an
organization”

Business Incubator
 A business incubator takes care of a business right
from its inception or birth.
 Its work starts from the point where the entrepreneur
may not even have an idea or offer in hand.
 The incubator helps the entrepreneur to generate
fruitful ideas and finalize the product or service to
offer.
 It will then help the business to go ahead with the idea
and pitch the product to investors and consumers.
 They can help it to create a perfect product line and
mix, as well as help it to select the right markets for its
offerings.
 In short, incubators assist a business right from its
birth till the time where it can stand all by itself.
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Business Accelerator
 A business accelerator “accelerates” or expedites
the growth and development of an already
existing company with a product or a service
offering in hand.
 The business owner or proprietor receives a
mentorship program.
 He also receives the resources to help and create
networks to push its products or services in the
market.
 Also, the accelerator provides financial assistance
to the business owner to fuel its growth activities.
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Dr. Mitesh J Patel, Assistant Professor, SK MBA - Visnagar 9426249951

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Business Incubators And
Accelerators
Definition and explanation in YouTube Video link
blow
https://www.youtube.com/watch?v=k5Axg5gEsLM&t=2s
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India's Largest Startup Incubator
 T-Hub (Technology Hub) is an innovation
intermediary and business incubator based in Hyderabad,
Telangana, India.
 Based on the triple helix model of innovation, it is a partnership
between the Government of Telangana, three academic
institutes in Hyderabad (the International Institute of Information
Technology, the Indian School of Business and the National
Academy of Legal Studies and Research) and the private sector.
 https://www.youtube.com/watch?v=Hbn3-0MEo88
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The Business Incubator Players
 The Property Developers
 Government and Local Government
 The Academics
 The Corporate Ventures
 The Entrepreneurs
 The Venture Capitalists
 The Business Angels
 The Consultants
 Variations on a Theme
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Angel Investor
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 An angel investor is typically an individual or a high-
worth individual investor who provides funding or
financial support for start-ups in lieu of a stake in
ownership in the company.
 They are usually among the family or relatives of the
entrepreneur. An Angel investor is also designated
as a business angel, informal investor, angel funder,
or private investor who invests in the start-ups.
 Most investors and banks are hesitant to invest at
the initial startup stage due to the high unforeseen
failure risk.

Angel Investor
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Angel Investor
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Venture capital (VC)
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 Venture capital (VC) is a form of private equity and a
type of financing that investors provide to startup
companies and small businesses that are believed to
have long-term growth potential.
 However, it does not always take a monetary form; it can
also be provided in the form of technical or managerial
expertise.
 Venture capital is typically allocated to small companies
with exceptional growth potential, or to companies that
have grown quickly and appear poised to continue to
expand.

Venture capital
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 Venture capital financing is funding provided to
companies and entrepreneurs. It can be provided at
different stages of their evolution, although it often
involves early and seed round funding.
 Venture capital funds manage pooled investments in
high-growth opportunities in startups and other early-
stage firms and are typically only open to accredited
investors.
 Venture capital has evolved from a niche activity at the
end of the Second World War into a sophisticated
industry with multiple players that play an important role
in spurring innovation.

YouTube Video link
 Angel Investor - MSME and Business
Entrepreneurship :
https://www.youtube.com/watch?v=qz7_FAutX
tY
 Venture Capital:
https://www.youtube.com/watch?v=Jg1OUtWq
S3w
 Venture Capitalists Vs Angel Investors:
https://www.youtube.com/watch?v=c5yVu-
8ugf8
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Most Active Angel Investors For
Indian Startups
Just click on Below Link
https://inc42.com/features/the-32-most-active-angel-investors-for-indian-
startups/
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Amit Lakhotia
 A former vice president of now listed payment giant,
Paytm, Amit Lakhotia apart from running his venture
Park+ is also very much into investing in startups.
 Angel investor in fintech startup BharatPe, and social
commerce platform Trell,
 Lakhotia started his smart car parking business Park+ in
2019.
 It has already raised Series B round worth $25 Mn from
Sequoia, Matrix among others.
 In 2021, Lakhotia participated in nine funding deals and
backed startups like Fixcraft, GoKwik, and Junio.
 https://www.youtube.com/watch?v=aJHAwYRqKyg
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Amrish Rau
 Started his career as a sales manager in Siemens
Nixdorf in 1996, Amrish Rau has steadily grown his
way to becoming a two-time entrepreneur.
 He cofounded Mumbai-based digital payments
startup Citrus Pay, along with Jitendra Gupta in
2013, which was later sold to PayU in 2016. In
2020, he joined Pine Labs as the CEO.
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 Rau-led Pine Labs, is now heading for an IPO and has
recently received an investment worth $20 Mn from SBI.
Last week, Rau also announced the launching of a
venture firm in association with his former cofounder
Jitendra Gupta – White Venture Capital. The venture
firm will invest $250K – $1 Mn in seed to Series A
rounds of fintech startups in India and Southeast Asia.
 In 2021, Rau participated in 9 startup funding deals
including Locus, Multiplier, OneCode. Overall, Rau has
Amrish Rau
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Anand Chandrasekaran
 Cofounded now NASDAQ listed Aeroprise in 2001, has
held several roles in different organisations in over two
decades of his professional career.
 Played various roles in companies such as Facebook and
Future Group. Just a few days back, he joined General
Catalyst as a partner.
 Overall he has participated in 130 deals, out of which, 70%
are in Indian startups.
 Some of his recent investments in India included cloud
management startup OpsLyft; retail aggregator SuperK,
and B2B ecommerce platform Venwiz.
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Thank You

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