entrepreneurship

1. Innovation, Entrepreneurship
and Challenges in Indian Incubation-Start-ups Eco
System
Presented by: Mr Raghav Agarwal (xxxxxx…….)

2. Agenda
• Basic understanding of Discovery , Invention and Innovation
• Entrepreneurship
• Ideation and Design Thinking
• Proof of Concept (PoC)
• Minimum Viable Product (MVP)
• Incubation and start-up eco system

3. Entrepreneurship is a …………………..
Invention
Innovation
Market Potential
Commercialization
Technology
Wealth Creation Job Creation
Market Risk
Aggregation Process
Product / Services
Idea

4. Who is Entrepreneur ?
•Entrepreneur is an aggregator and manager of resources
(Efficiently and Effectively) to produce value which can
solve an unsolved problem
•An entrepreneur is an economic risk taker with certain
traits and skills
•An entrepreneur has the willingness and ability to convert
a new idea or invention in to successful innovation.
INNOVATION = INVENTION X COMMERCIALIZATION

5. BasicTraits of a Successful Entrepreneurs
• Explorer
• Resilience
• Curious
• Passion & Patience
• Doer

6. Key Takeaways of
Entrepreneurship
• Entrepreneurship is important as it has the ability to improve standards of
living and create wealth, not only for the entrepreneurs, but also for related
businesses.
• Entrepreneurs also help drive change with innovation, where new and
improved products enable new markets to be developed.
• Economy wise, higher earnings thanks to entrepreneurship can help boost
national income and tax revenue.
• Entrepreneurs contribute in other ways as well, such as investing in
community projects and supporting local charities.
• Too much entrepreneurship (i..e, high self-employment) can be detrimental
to economic development.

7. Discovery
Christopher Columbus
Isaac Newton

8. Discovery
A discovery is recognizing something that
already exists for the first time,
that nobody has found before,

9. Invention
A thing that has been made or designed by somebody
for the first time
Inventor: Alexander Graham Bell (1876) Inventor: Martin Cooper (1973)

10. Innovation
“A new or changed entity realizing or redistributing value"
Innovation is the practical implementation of ideas that result in the introduction of new goods or services
or improvement in offering goods or services

11. • Technical Innovation
• Service Innovation
• Business Model Innovation
• Design Innovation
• Social Innovation

13. Innovation = (Pain x Technology ) + Commercialization
Pain Point
Technology
Point
Sale Point

15. DesignThinking
Design thinking is an approach used for
practical and creative problem-solving.

21. DesignThinking tackles complex problems by:
1. Empathizing: Understanding the human needs involved.
2. Defining: Re-framing and defining the problem in human-centric ways.
3. Ideating: Creating many ideas in ideation sessions.
4. Prototyping: Adopting a hands-on approach in prototyping.
5.Testing: Developing a testable prototype/solution to the problem.

23. Ideation Proof of Concept (PoC)

26. Incubation
• The act or process of Incubating
• Development under controlled environment

27. Incubation
Safe Home

28. Incubation
Growing Stage
Start-up

29. An Overview of Business Incubation
B)The business incubation
(process)
A)The wider business
incubation environment
C) Business incubator (a business
incubation environment)

30. The (wider) business incubation
environment…
■ … is the wider context which should be conducive to
the sustainable development of enterprises and
nurturing their growth.

31. Business incubation…
• … is a public and/or private, entrepreneurial, economic
and social development process designed to nurture
businesses from idea generation to start-up companies
and, through a comprehensive business support
program, help them establish and accelerate their
growth and success.

32. The business incubator…
• ... is a physical space or facility that
accommodates a business incubation process.
SIMPLY PUT ……..
Incubators are “safe houses” that to a large
extent work towards de-risking at the
various stages of a start up lifecycle

33. RISKS …..
• Potential Ideas get lost
due to inadequate
ideation – kills spirit of
innovation
• No access to guidance
on how to proceed
• BRANDING of a person
by peers
• Do not address the REAL
pain point
• No mentors to guide
development
• No idea about the business
aspects of a product /
solution
• No clue about how to
access Market
• No experience in talking
and convincing
customers
• Systematic planning &
engagement of users
0 – 12 months 12 – 36 months
IDEATO MARKET
PRE-IDEA STAGE SCALING BUSINESS
• Access to funding for POC
development
• Statutory compliances
• Capital to move from
POC to MVP

34. SUCCESSOF AN INCUBATOR ……
• No. of Ideas supported and number realising POC / MVP
• No. of Entrepreneurs supported
• No. ofVentures registered
• No. ofVentures that survive 2-3 years post Incubation
• No. ofVentures that raise external money
• No. of IP obtained by incubatees
• Revenue generated by incubatees
• Revenue generated by graduates
• Employment by incubatees
• Employment by graduates
• No. of programmes / events conducted
TO BE MEASUREDOVER A PERIODAFTER AT LEAST 3-4YEARS OF EXISTENCE

35. START-UP
A company, partnership, or temporary organization designed to
search for a repeatable and scalable business model.
A startup is an organization designed to innovate a new product or
service under conditions of extreme uncertainty
A business Concept that has a 90 % chance of failing within 3 years

36. START-UP
A business concept that has a 90 %
chance of failing within 3 years.

38. A startup timeline

39. Types of Start ups
1) SMALL BUSINESS STARTUPS
• It is a fact that the vast majority of startups are still the same old small
businesses. Travel agents, plumber, electricians, carpenters, consultants
etc are some of the types of startups that fall under this category.
• The good thing about these small business startups is that they mostly
hire local talents and thereby contribute to the local economy. Small
business entrepreneurs rarely make it to the magazine cover but they do
play a prominent role in the economic development of the country.

40. Types of Start ups
2) LIFESTYLE STARTUPS
• It is a fact that the vast majority of startups are still the same oldWe are
now seeing an increasing number of startup companies who are blurring
the line between passion and profession. For example, people, who are
passionate about drawing, are launching Animation startup companies as
it gives them the perfect opportunity to do what they do best. People
who have some level of expertise in sky jumping are now offering sky
jumping training as well; this is another form of lifestyle startup. Lifestyle
Startup is all about pursuing ones passion and finding a way to earn
money through it.

41. Types of Start ups
3) BUYABLE STARTUPS
• The cost of designing and developing a mobile based or web based app
has plummeted massively and this has given birth to the new breed of
Startup Company known as buyable startup. Some of these startup
companies are not even looking for traditionalVenture Capitalists rather
they are trying to raise money for their startups by opting for angle
finding or crowd funding. However, this type of startup is generally sold
to a third party after some time in return of a handsome amount of profit.
This type of startup is gaining traction and is most likely to become more
popular in coming years.

42. Types of Start ups
3) BUYABLE STARTUPS
• The cost of designing and developing a mobile based or web based app
has plummeted massively and this has given birth to the new breed of
Startup Company known as buyable startup. Some of these startup
companies are not even looking for traditionalVenture Capitalists rather
they are trying to raise money for their startups by opting for angle
finding or crowd funding. However, this type of startup is generally sold
to a third party after some time in return of a handsome amount of profit.
This type of startup is gaining traction and is most likely to become more
popular in coming years.

43. Types of Start ups
4) SOCIAL STARTUPS
• Unlike other types of startups, social startups are not driven by profit
rather they are driven by a powerful cause. Just because social
entrepreneurs are fighting for a cause it does not mean that they are any
less passionate about success or adverse to the idea of making profit.
Unlike traditional startup companies, the goal of most social startups is
to make the world a better place. However, there are some social
startups who are into wealth creation as well.

44. Types of Start ups
5) SCALABLE STARTUPS
• Scalable Startups are vastly different from small business startups
despite the fact that they too have very humble beginnings. Unlike small
business startups, scalable startups aim high.They believe that their
ideas can change the world and the perfect examples are Facebook,
Twitter, Skype and their likes. Scalable Startup revolves around a simple
but powerful concept and they always look for financial investors to raise
capital for their dream idea.

45. Kinds of Startup Ideas
• Type A
• Startup ideas centered around providing customers with an existing product not
available in their market
• Type B
• Startup ideas, involving new ideas, involving new technology, centered around
providing customers with a new product
• Type C
• Startup ideas centered around providing customers with an improved product

46. Kinds of Startup Ideas
• Type A
• Startup ideas centered around providing customers with an existing product not
available in their market
• Type B
• Startup ideas, involving new ideas, involving new technology, centered around
providing customers with a new product
• Type C
• Startup ideas centered around providing customers with an improved product

47. Sources of Startup Ideas
Family Business
6%
Friends/Relatives
5%
Personal Interest/Hobby
16%
Suggestion
7%
Education/Courses
6%
Chance Happening
11%
Other
4%
Prior Work
Experience
45%
Source: Data developed and provided
by the National Federation of
Independent Business Foundation and
sponsored by American Express Travel
Related Services Company, Inc.

48. Thank
You