Lean LaunchPadLeroy Yau, 43 Ventures
Who am I?
Sharing opportunities
There is only a specific means to a specific end
There is only recipe for failure, not success
Startup Idea Generation
Startup Idea Generation
What is a startup?“A startup is the largest group of people you can convince of a plan to
build a different future.” – Peter Thiel
“A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.” – Eric Ries
“A startup is a company designed to grow fast.” – Paul Graham
Understand your startup
Startup Idea Generation
Passion
Idea Idea Idea
Idea
I want to go to Mars
I want to go to Mars by a Rocket
I want to go to Mars by a Rocket that is fuelled by hydrazine instead of liquid hydrogen
Startup Idea Generation
What important truth do very few people agree
with you on?“Zero to One”, Peter Thiel
You have to be 10 times better than second best.
“Zero to One”, Peter Thiel
The very best startup ideas tend to have three things in common: they're something the founders themselves want, that they
themselves can build, and that few others realize are worth doing.
Paul Graham http://paulgraham.com/startupideas.html
Problem
• Actually Exists!
• Make up idea (based on a chat over beer)
• Will actually use
• Casual validation with nay-sayers
Well
• Narrow and deep
• Small group of strong supporters of something that is only ‘half good’
• Now, now, now (urgency)
Self
• In Zen and the Art of Motorcycle Maintenance, Robert Pirsig says:
• You want to know how to paint a perfect painting? It's easy. Make yourself perfect and then just paint naturally.
• Be at the ‘leading’ edge
• Notice the idea rather than think up an idea
School
• Just do it
• Cross discipline
• Gather like-minded people
Market
• Market size and market share
• Niche market
• A fast path out
Case Studies
New anti-fog technology
New air filtration system using new carbon
materials
R&D Market
Small Tips
• R&D and business development are interrelated
• Licensing vs developing own business/product
Group exercisePitching a startup idea
Small Tips
• Idea sharing is what it is - idea sharing
• Nothing sounds truly exciting at this level - unless something you love in the first place
• Find people who share this ‘madness’ with you
Key Take-aways
Yourself
Customers Competitors
Partners
Team
Investors
AdvisorsFriends
Family
Haters
HOW
WHERE
WHY
WHO WHEN
WHAT
Action vs Inaction
Quantum Physics vs
Newton’s laws
Visionary
Making a vision a reality
創造與創作
Most common mistakes
• Under research
• Limited market validation
• Focus on idea and model
Everything is possible, if time is not limited
Experimenting “The major challenge facing most foundations is that they are risk averse. This inhibits their ability to experiment and commit to
the experimentation and innovation process.” - Steve Levitt
Learning “Live as if you were to die tomorrow. Learn as if you were to live forever.” - Mahatma Gandhi
Doing “Action is the foundational key to all success.” - Pablo Picasso
Q&A