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Entrepreneurship A dialog and food for thought

What is Entrepreneurship . en tre pre neur ( n tr-pr-nr , -n r )n. A person who organizes, operates, and assumes the risk for a business ventureIdentifies pain-points as opportunities Takes calculated risks and leads positively Passionate, Unconventional and OpenCreates jobs Enhances peo

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Entrepreneurship A dialog and food for thought

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    1. Jayan Ramankutty (1975 80 : 75F04480) Founding CEO YuMe Networks BITSAA.org, Jan 20th 2007 Entrepreneurship A dialog and food for thought

    2. What is Entrepreneurship en tre pre neur ( n tr-pr-nr , -n r )n. A person who organizes, operates, and assumes the risk for a business venture Identifies pain-points as opportunities Takes calculated risks and leads positively Passionate, Unconventional and Open Creates jobs Enhances peoples lives And reaps the rewards

    3. First Step: Exploration BITS, Pilani teaches you HOW to learn Compete but yet Collaborate in a social environment Rules, Ethics, Morality etc Gain real world experience people and money Be open and inclusive while team building Trust-worthy, Fearless, Respectful, Lacking Greed Get to the bottom of everything but dont get stuck Analysis Paralysis Be thrilled by the things around you

    4. Pain Points - Opportunities It is a myth to assume that all problems have been solvedIt is a myth to assume that all problems have been solved

    5. RISK

    6. Funding Sources Angel Investors Self, family sold on the idea! Wealthy individuals with industry background or individual funds Small investment (~ $1M) in a very early-stage company (demo, 2-3 employees) Financial VCs sophisticated money lenders Venture Capital, Private Equity and Hedge Funds Fund sizes: ~$25M to 10s of billions Main goal ROI through IPOs, Mergers and Acquisitions (M&A), Dividends Strategic VCs Typically a division of a large company. Examples: Intel, Cisco, Siemens, AT&T, Strategic investment for Corporate expansion of product and/or sales Primarily or exclusively not concerned with ROI

    7. Funding Stages

    8. Funding Criteria

    9. Funding a timeline perspective Source: Ten3 Coach

    10. Angel (Seed) Valuation Historically seed stage funding is limited to $1M+ higher risk lower funding Seed valuations tend to be subjective Quality of the leadership Trust, enthusiasm etc Strength of intellectual property Time-to-market expectations Cap-ex and burn rates expectations Sector volatility

    11. VC( Series A) Evaluation 6 in 1000 business plans get funded on an average 5% of business plans are read beyond the executive summary 10% of proposals pass initial screening 10% of pre-screened proposals pass due diligence & receive funding

    12. State of the VC Industry Improvement in our business model over time: COS, R&D and SG&A decreases while operating profit and profitability increases -SIA WW semiconductor shipment growth slows to 0% from 2004s 28% -Early-2005 looks difficult due to downturn in semis, semi capex, and soft handset manufacturing test -We are planning conservatively for 2005 to minimize downside risk by controlling headcount and expenses, but also take advantage of any upside opportunity -Plan based on mid-cycle correction, not general downturn -Agilent markets expected to gradually regain momentum in H2 -Intense competition will drive ASPs downward and apply pressure on our marginsImprovement in our business model over time: COS, R&D and SG&A decreases while operating profit and profitability increases -SIA WW semiconductor shipment growth slows to 0% from 2004s 28% -Early-2005 looks difficult due to downturn in semis, semi capex, and soft handset manufacturing test -We are planning conservatively for 2005 to minimize downside risk by controlling headcount and expenses, but also take advantage of any upside opportunity -Plan based on mid-cycle correction, not general downturn -Agilent markets expected to gradually regain momentum in H2 -Intense competition will drive ASPs downward and apply pressure on our margins

    13. Chronology Lara Technology

    14. Financial Chronology of Amazon.com Source: Ten3 Coach

    15. Reward What is this? Why does this matter? Is that the end goal?

    16. Q & A

    17. BIO 80-83: ORG Systems, Baroda, Bangalore 84-86: Tata Elxsi, Singapore 87 : CSU, Chico, Summer job Elxsi 87-89 : Full time Elxsi, Part-time CSU, San Jose 90 : MS Computer Engineering 89-91 : Via Technology 91-93 : co-Founder Nimbus Technology 93-97 : Alliance Semiconductor acquires Nimbus, built PCI multimedia chips 97- 01: Co-founded Lara Networks, EmpowerTel Networks June 01: Lara pioneer in TCAM Acquired by Cypress June 02: EmpowerTel pioneer in VoIP Acquired by Ipunity Sept 03: Founded YuMe Networks New Media Company pioneer in inserting RT video Ads July 06: Closed $7.2MM Series A funding for YuMe Dec 06: Stepped down from active duty at YuMe Mentoring Duke Graduates on entrepreneurship TiE Charter Member and Co-Chair of Media and Entertainment Five patents to date in routing, VoIP. Have applied for video over IP, DRM etc

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