Creativity, Innovation, Entrepreneurship and Venture Capital 创意、创新、创业 与 风险投资

1. Creativity, Innovation, Entrepreneurship and Venture Capital 创意、创新、创业 与 风险投资 Jointly by Dr. Lu Wei & Dr. Kent Millington

2. Knowledge isn’t power; Knowledge is ubiquitous. Creativity is power 知识不是力量，知识到处都有。创意才是力量。

3. Knowledge isn’t power; Knowledge is ubiquitous. Creativity is power 知识不是力量，知识到处都有。创意才是力量 FEDEX the hub-and-spoke system 联邦快递枢纽辐射式航线系统

4. Knowledge 知识数量 Knowledge 知识数量 Knowledge isn’t power; Knowledge is ubiquitous. Creativity is power 知识不是力量，知识到处都有。创意才是力量 The amount of knowledge & the ability of Creativity 知识与创意 Is too much knowledge a bad thing? 知识多了无创意？ Creativity 创意能力 Creativity 创意能力

5. From a left brain world to a right brain world 从左脑世界到右脑世界 Left brain activities can be automated, replicated and out sourced 左脑活动可以自动化，复制和外包 Right brain activities are contextual, synthetic and individual 右脑活动时前后关联的，综合的和个性化的

6. CREATIVITY: The Production of New and Useful Ideas 创意：新且有用想法的产生 • Creativity is the starting point for Innovation and Business Growth. • 创意是创新和公司成长的起点 • Creativity is the process through which inventions occur • 创意是发明产生的过程 • Creativity is the enabling process by which something new comes into existence. • 创意是能使新想法变为现实的过程

7. The three components of creativity创意的三个组成部分 Creative thinking 创新思维 How people approach problems and Solutions 人们对待问题的 方式和解决方案 Motivation 激励动机 Determines whatpeople will actually do 决定人们真的 要做的事情 Expertise /Knowledge 技术/知识 Everything that a person knows and can do in the broad domain of his or her work 一个人在他/她的领域 所知道和能做的

8. Where do Entrepreneurs Get Their Ideas? 企业家的想法从哪来？ Discovered through systematic Research 通过系统研究发现的 Replicated or modified an idea encountered through previous employment 复制或修正了一个在之前的工作中产生的想法 Swept into the PC revolution 在计算机革命中的发现 4% 5% Discovered by Luck运气 Built temporary or casual job into a business (7%)把一项临时或偶然的工作发展为企业 Wanted as an individual consumer (6%)作为消费者的需求Happened to read about the industry (4%)偶然阅读到有关的行业 Developed family member’s idea (2%) 开发家庭成员的想法 Thought up during honeymoon in Italy (1%)在意大利度蜜月时的奇想 20% 71%

10. Additional Chinese Demographics其他中国人口统计数据 By 2020, 30 million unmarried young men (bare branches) 到2020年，将有三千万未婚年轻男士（光棍） 45% of young women not give up career for marriage 45%的年轻女士不会为婚姻而放弃事业 Highest deaths from air pollution 由空气污染所导致的死亡率最高

11. INNOVATION: The Successful Implementation of Ideas 创新：创意的成功实施 • Many people have great ideas but do not know how an organization has to operate to get things done. • 很多人有很好的想法但却不知道一个组织必须怎样运作才能把好的想法变为现实。 • When a good idea has been identified, it has to be shaped and analyzed to determine if it can become the basis for a new product or service. • 当一个好想法明确之后，它必须依照一定的方法来分析以确定它是否能成为一个新产品或服务的基础。 • Business leadership is the process of turning ideas into profitable new products or businesses: Innovation! • 商界领袖的作为就是把创意变成有利可图的新产品或商务模式：创新！

12. Place an “X” in the approximate location of the competitors in your industry in terms of price and performance/benefits/value added 从价格和绩效/益处/价值增值的角度出发， 用“x”标出你所在行业的竞争者们在图中所处的位置 Highest 最高 Average 平均水平 Lowest 最低 Price 价格 Lowest Average Highest 最低 平均水平 最高 Performance/Benefit/Value Added绩效/益处/价值增值

13. World’s Most Innovative Companies 世界上最具创新的公司 • Apple • Google • Toyota Motor • General Electric • Microsoft • Tata Group • Nintendo • Proctor & Gamble • Sony • Nokia The Companies who innovate are the companies who lead ! 创新才能引领！

14. Discontinuous opportunities: The source of radical innovation跳跃的机会：根本型创新的源泉 跳跃的机会： 创建新的市场 和新的产品 毗邻的机会： 开发现有的资产 和能力 Discontinuous Opportunities Create new markets and new products New Markets 新市场 强化状态： 增加市场份额 和利润(业务扩 展,不是新的企 业发展) 毗邻的机会： 增加主要市 场需求 Existing Markets 现有市场 Existing products/ Technology 现有产品/技术 New products/ Technology 新产品/技术

15. … which create disproportionate wealth relative to adjacent opportunities两种类型的机会所产生的财富的比重 14% 38% 61% 86% Discontinuous Opportunities 跳跃的机会 62% Adjacent Opportunities 相邻机会 39% 100 50 0 Type of new Business Launch新公司 Profits利润 Revenues 收入 Source: Chan & Mauborgne (1997)

16. Technology Assessment技术评估 Understand Technology 了解技术 Discover Possible Uses of Technology 发掘技术的可能应用 Understand Markets for Uses 了解技术应用的市场 Determine How to Deliver Value 确定如何传递价值

17. The Process of Technology Commercialization技术商业化过程 Commercializing New Technologies, Vijay K. Jolly, Harvard Business School Press

18. Technology Commercialization Process 技术商业化过程 Imagining 成型 Incubating孵化 Demonstrating 示范 Promoting 推广 Sustaining 维护 Product planning steps 产品规划步骤 Build products & introduce to markets生产产品并推向市场 Build markets & improve products拓展市场并改进产品 Developing product ideas发展产品构思 Build prototypes构建产品原型 Creating original ideas创造最初想法 Build initial markets & plan market expansions建立初级市场并做好市场扩张计划 Find resources to build prototypes & identify markets寻找资源来构建产品原型并进行市场识别 Develop market growth strategies规划市场拓展方案 Find interested people & money挖掘潜在客户及资金 Business planning steps 商业规划步骤 Resource Needs 所需资源 People 人力Small 极少 Moderate 适度 Medium 中等 Large 多 Physical 设备None 无 Moderate 适度 Medium 中等 Large 多 Financial 财力None 无 Moderate 适度 Large 多 Largest 最多

19. Continuum of Innovation创新的演变 Imitative Incremental Evolutionary Radical Revolutionary 模仿 改善 改进 革新 革命

20. Continuum of Innovation创新的类型 Imitative: copies something well-known and accepted 模仿型：复制著名的已广为接受的事物 Incremental: small improvements; faster, better, cheaper 增量型：小的改进；更快，更好，更便宜 Evolutionary: new to firm but not to world (i.e., technologies) 优化型：对于企业来说全新的，但是在全世界范围内并不是（例如：技术） Radical: technologies that give large performance improvements or lower costs 根本型：显著改善绩效或降低成本的技术 Revolutionary: new to individual, firm, and the world 革命型：对个体、公司以及全世界来说都是全新的 Best Opportunities between Incremental and Radical最好的机会在增量型和根本型之间

21. Latest science and technology 最新的科技 Needs in society and the marketplace 社会和市场的需求 The Creativity-Innovation-Entrepreneurship Chain创意-创新-创业链条 • Innovation创新 • Refining, evaluation • and first materialization • of the new ideas • 提炼、评估及新想法的 • 第一次具体化 • Evaluation of opportunities • 评估机会 • Output: prototype • 产出：原创模型 • Creativity 创意 • Production of novel • and useful ideas • 新颖且有用的想法 • Discovery of opportunities • 发现机会 • Output: new ideas • 产出：新想法 • Entrepreneurship创业 • Creation of value in the • marketplace • 在市场上创造价值 • Exploitation of opportunities • 发掘机会 • Output: new product, • service, or process • 产出：新产品，服务或程序

22. ENTREPRENEURSHIP: The ART and SCIENCE of Creating Value 创业：创造价值的科学与艺术 • ART: Creativity, Energy, Feel, Insight • 艺术：创意、激情、知觉，洞察力 • SCIENCE: Analysis, Discipline, Systematic Approach • 科学：分析、规范、系统方法 Same Process whether in Large or Start –up Companies 无论大公司还是新建小公司都是同样的过程

23. Fractal：Art? Science?分形：艺术？科学？ 如此绚丽多姿的图案既不是艺术家手绘的作品，也不是大自然的鬼斧神工，而是通过建立严格的科学方程，在电脑上描绘的。

24. Mona Lisa is not Smiling蒙娜利莎并没有笑 “蒙娜丽莎的微笑”充分展现的不是达芬奇的高超画技，而是他高深的几何知识和形体结构知识。他对光学、阴影的巧妙运用，让今天的画家们仍然望尘莫及。

25. KNOWLEDGE: The First Common Thread 知识：第一个共同的线索 • Creativity • 创意 Entrepreneurship 创业 Innovation 创新 Knowledge知识 Basic Ideas and sketches 基本的思路和框架 Formulas, patents, prototypes 公式、专利、原创模型 Products or Services 产品或服务

26. Entrepreneurship: About People创业：与人有关13905698143weilu@ustc.edu.cn鲁炜 DnA + AnD = Action DnA + AnD=行动 DnA = Dreams and Ambitions DnA=梦想和野心 AnD = Analysis and Discipline AnD=分析和规范化方法

27. The Entrepreneurial Process 创业过程 Resources, 4zi 资源 Opportunity 机会 Team 团队

28. CAPITAL PROVIDERS 资本提供者 • Friends and Family • 朋友和家庭。 • Angels – private investors who invest their own money and expertise in start-up ventures expecting a high return • 天使-把自己的钱或技术投在新创公司，期望高回报的私人投资者。 • Venture Capitalists - money managers who invest other people’s money in mid- and late-stage ventures, expecting a high return and an exit strategy. • 风险投资家-把别人的钱投到发展中期和后期的新创公司，期望高回报和退出策略。

29. Seed 种子 Start-up 新创公司 Early 早期 Later 后期 Concept 创意 Prototype 原创模型 Product 产品 Expansion 扩展 Business Angels Dev’t Funds 商业天使 发展基金 Equity markets Banks 证券市场 银行 VC companies 风险投资公司 Founders Family Friends 创业者的 家庭和朋友 Venture Financing Chain融资链条 Venture capital cannot finance innovation on its own. Dynamic innovation demands an unbroken financing chain, from seed capital to stock market. The financing chain is no stronger than its weakest link. 创新不可能单单由风险投资家投入。动态的创新要求一个不间断的融资链条，从种子基金到股票市场。融资链条的强度取决于其最弱的一个环节。 F U N D I N G S T A GE 融资阶段 M A J O R S O U R C E S O F F U N D 资金的主要来源

30. ENTREPRENEURSHIP and VENTURE CAPITAL 创业与风险投资课程简介 • Teach techniques of Opportunity Identification • 讲授发现机会的方法 • Show steps of Technology Commercialization • 展示技术商业化的步骤 • Develop a strong Entrepreneurial Team • 创建强有力的创业团队 • Identify and accumulate necessary Resources • 识别和积累必要的资源 • Prepare to approach Angels and Venture Capitalists • 掌握接触天使和风险投资家的方法

31. THANK YOU !!! Questions of all kinds are all welcome!