Startup Idea Generation

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  • 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

    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

    Newtons laws

  • Visionary

    Making a vision a reality

  • 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