Minutes of Meeting -18-04-09
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sunil kata
Apr 21, 2009, 9:42:57 AM4/21/09
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Hi Everyone,
The following are the minutes of the meeting on 18th April, 2009 with Prof. Mary Mathew, Management Studies, IISc. I would like to thank Chaitanya for his help in preparing these minutes.
About : Idea Evaluation and Writing B-Plan
The Main difference between the guy who sells Banana Chips and the guy who goes for a Start-up at IISc, as observed by Dr. Mary Mathew, are these
-- Technology
-- Market Risks
-- Intellectual Property Rights (IP)
-- Basic Research
-- Analysis of market and so on.
She adds saying various layers of market has to be understood as 'Selling Food stuff' is different from 'Selling Metal Detectors' under water.
To evaluate an idea, she says, one has to do all of these :
-- Financial Analysis
-- Market Analysis
-- Internal Analysis
-- Risk Aspects' Assessment
Key issue of lack of culture has been addressed by one of the members. She advised students to join "The Indus Entreprenuers(TiE)", where there could be a lot of international exposure and business advice.
There was a debate on how entreprenuership helps/ doesn't help for a student getting a degree.
She says writing a B-Plan is throughly studied and is widely available. Things like writing goals, mission statements, vision, timeline (schedule), appendix, profile of individuals etc. can be obtained from the internet.
She observed that any product/service that is successful would go through the following stages (may not be in same century/ by the same company)
Basic Reasearch --> Applied Research --> NPD (New Product Development) --> Market/Customer .
Any product at NPD could be successful if it is multi-disciplinary, she adds.
She says run in the market could get stale if the knowledge in the industry is obsolete. And hence there should be R & D for every company.
She also talks about narrowing down the focus, maturity of technology, traits of personality( either a capitalist or socialist), values etc.
There was also a discussion on Volume of Market Vs Niche Market, Issues of Trade Secrets, PRIOR ART, radical innovation and so on.
She advises that the start-up idea should be a growth in the technology. And also to be ready to bounce back if the idea doesn't work.
She concluded by saying that in her next talk she would talk on how to approach SID and various steps required for that.
Thanks & Regards,
Sunil Kata
Member,
SWAYAM, IISc.
The following are the minutes of the meeting on 18th April, 2009 with Prof. Mary Mathew, Management Studies, IISc. I would like to thank Chaitanya for his help in preparing these minutes.
About : Idea Evaluation and Writing B-Plan
The Main difference between the guy who sells Banana Chips and the guy who goes for a Start-up at IISc, as observed by Dr. Mary Mathew, are these
-- Technology
-- Market Risks
-- Intellectual Property Rights (IP)
-- Basic Research
-- Analysis of market and so on.
She adds saying various layers of market has to be understood as 'Selling Food stuff' is different from 'Selling Metal Detectors' under water.
To evaluate an idea, she says, one has to do all of these :
-- Financial Analysis
-- Market Analysis
-- Internal Analysis
-- Risk Aspects' Assessment
Key issue of lack of culture has been addressed by one of the members. She advised students to join "The Indus Entreprenuers(TiE)", where there could be a lot of international exposure and business advice.
There was a debate on how entreprenuership helps/ doesn't help for a student getting a degree.
She says writing a B-Plan is throughly studied and is widely available. Things like writing goals, mission statements, vision, timeline (schedule), appendix, profile of individuals etc. can be obtained from the internet.
She observed that any product/service that is successful would go through the following stages (may not be in same century/ by the same company)
Basic Reasearch --> Applied Research --> NPD (New Product Development) --> Market/Customer .
Any product at NPD could be successful if it is multi-disciplinary, she adds.
She says run in the market could get stale if the knowledge in the industry is obsolete. And hence there should be R & D for every company.
She also talks about narrowing down the focus, maturity of technology, traits of personality( either a capitalist or socialist), values etc.
There was also a discussion on Volume of Market Vs Niche Market, Issues of Trade Secrets, PRIOR ART, radical innovation and so on.
She advises that the start-up idea should be a growth in the technology. And also to be ready to bounce back if the idea doesn't work.
She concluded by saying that in her next talk she would talk on how to approach SID and various steps required for that.
Thanks & Regards,
Sunil Kata
Member,
SWAYAM, IISc.
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