Presentacion wadhwa

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  • 1. Entrepreneurship and keys to successDuke University Pratt School of Engineering www.pratt.duke.edu Vivek Wadhwa Visiting Scholar, UC-Berkeley Director of Research, Center for Entrepreneurship and Research Commercialization and Exec in Residence, Pratt School of Engineering, Duke University Senior Research Associate, Harvard Law School Columnist, BusinessWeek, TechCrunch www.GlobalizationResearch.com 2010 Vivek Wadhwa
  • 2. OverviewDuke University Pratt School of Engineering www.pratt.duke.edu American technology entrepreneurs: myths & realities Backgrounds, life histories, motivations, and beliefs Factors that provide greatest advantages/obstacles Why more people dont become entrepreneurs Keys to building a successful tech business Importance of markets Understanding customer needs What is a business model and how to get this right Building the right management team Selling Public relationsgetting known Failure, luck 2010 Vivek Wadhwa
  • 3. Entrepreneurship ResearchDuke University Pratt School of Engineering www.pratt.duke.edu Based on 3 projects: Survey of 652 CEOs/CTOs of 502 tech companies Interviews with 144 Immigrant tech company founders Detailed survey of 549+ founders of companies in 12 high- growth industries Common Myths: Tech entrepreneurs: unmarried, rich, college-dropouts obsessed with making money Ivy-league education provides huge advantage Venture Capital prerequisite for economic growth 2010
  • 4. Tech entrepreneurs: Not youngDuke University Pratt School of Engineering www.pratt.duke.edu US Tech Founder Age at the Time of Startup Establishment 0 - 19 1,2% 20 - 29 14,2% 30 - 39 Founder Age 37,5% 40 - 49 34,1% 50 - 59 10,5% 60 - 69 2,5% 0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0% 35,0% 40,0% Percentage of all Respondents 2010 Vivek Wadhwa
  • 5. Married with childrenDuke University Pratt School of Engineering www.pratt.duke.edu 69,9% 40,3% Average Number of Children Marital Status 28,0% 24,9% 16,4% 11,0% 4,5% 3,4% 0,7% 0,9% Single Married Divorced/Separated Widowed 0 1 2 3 4 5 2010 Vivek Wadhwa
  • 6. Entrepreneurs: Not from rich familiesDuke University Pratt School of Engineering www.pratt.duke.edu 36,9% 34,6% 21,8% 5,4% 0,7% 0,6% LOWER-LOWER CLASS LOWER-MIDDLE CLASS LOWER-UPPER CLASS UPPER-LOWER CLASS UPPER-MIDDLE CLASS UPPER-UPPER CLASS 2010 Vivek Wadhwa
  • 7. Tech entrepreneurs: Not college dropoutsDuke University Pratt School of Engineering www.pratt.duke.edu Associates Degree, High School Certification, MD, Diploma or Economics, STEM Fields 46.5% JD, Arts, Some 3.8% Lower, 5,9% 1.8% 3.5% Humanities College, 2.3% and Social Sciences, Other, Applied Law, 4.6% 2.8% Sciences*, 4.2% 9.0% Healthcare, PhD, 5.5% 10.0% Engineering 27.6% Bachelors, 44.0% Masters, Business, Mathematics 31.0% Accounting, 1.5% Finance, Computer 33,4% Science, Information Technology 9.0% Highest Completed Degree Fields of Highest Degree 2010 Vivek Wadhwa
  • 8. Even better educated than their parentsDuke University Pratt School of Engineering www.pratt.duke.edu 27,8% 36,8% 24,5% Father Mother 19,7% 22,7% 19,3% 10,0% 10,0% 5,2% 5,6% 5,8% 5,8% 8,3%