從矽谷經驗談創業與投資
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從矽谷經驗談創業與投資. March 2008 David Weng 翁 嘉 盛. History of Silicon Valley. 1891 — Stanford University is founded by Governor Leland and Jane Stanford. 1903 —Valdemar Poulsen demonstrates the first arc radio transmitter for high-quality voice transmission in his Palo Alto laboratory.

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2885687

從矽谷經驗談創業與投資

March 2008

David Weng

翁 嘉 盛


History of silicon valley
History of Silicon Valley

1891—Stanford University is founded by Governor Leland and Jane Stanford.

1903—Valdemar Poulsen demonstrates the first arc radio transmitter for high-quality voice transmission in his Palo Alto laboratory.

1912—Lee de Forest invents the vacuum tube amplifier in Palo Alto. Stanford faculty and officials helped finance the work, the first of many cooperative partnerships between higher education and Silicon Valley.

1930’s—Professor Frederick Terman is recruited by Stanford University and starts a lifelong promotion of the benefits of the Valley. Later, Terman becomes known as the father of Silicon Valley.

1937—Encouraged by Terman, William Hewlett and David Packard start a company to produce their audio-oscillator. Walt Disney becomes their first customer, purchasing the product for use on the film Fantasia.



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Share of Patents College+; 28% Asians

46.8%

11.6%


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Share of US VC Coming to SV – 2007 : 27% College+; 28% Asians

2007 VC in SV ~ $8B



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Median Household Income College+; 28% Asians

SV: $83K

US: $50K


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Home Affordability College+; 28% Asians

US: 43%

CA: 24%

SV: 22%


History of cisco systems

1984 College+; 28% Asians

1986

1990

1994

1998

2002

2003

2004

Started at Stanford

IPO Adjusted6¢ per share; 192 Employees

End-to-End Solutions Provider

$18.9 Billion Revenue; 34,000 Employees; IP Telephony, Security, Wireless, Networked Home

Shipped First Router

Cisco Routers Power the Internet; LAN/WAN Switching, Remote Access

#1 Communications Equipment Supplier

Cisco’s20th Anniversary

$22 Billion Revenue

History of Cisco Systems


Cisco systems quarterly operating results
Cisco Systems College+; 28% AsiansQuarterly Operating Results

($B)

FY ’93

FY ’94

FY ’95

FY ’96

FY ’97

FY ’98

FY ’99

FY ’00

FY ’01

Excludes one-time charge/gains


Cisco products
Cisco Products College+; 28% Asians

  • Industry’s broadest product line

  • Leadership products in each category

  • R&D = 14% of revenue

  • Enables end-to-end network services


R d commitment

$3.24B R&D SPEND College+; 28% Asians

R&D Commitment

20%

15%

R&D as % of Revenue

10%

5%

0%

Source: Yahoo Finance 7/28/05


Cisco intelligent network architecture
Cisco Intelligent Network Architecture College+; 28% Asians

InnovativeApplicationServices

ApplicationServices

Unifying Software Fabric

Industry’sBroadestProduct Family

Network Platforms


Cisco business relationships
Cisco Business Relationships College+; 28% Asians

INTERNET COMMUNICATIONS SOFTWARE

TECHNOLOGY DEVELOPER PARTNERS

INTERNET BUSINESS SOLUTIONS

STRATEGIC ALLIANCES

LEARNING PARTNERS

NETWORK SECURITY

DISTRIBUTION

PROFESSIONAL SERVICES


Cisco acquisitions
Cisco Acquisitions College+; 28% Asians

Through December 28, 2000


Corporate culture at cisco
Corporate Culture at Cisco College+; 28% Asians

Continuous Improvement/ Stretch Goals

Quality Team

Frugality

No Technology

Religion

Giving Back/ Trust/Fair/Integrity

Teamwork

Market Transitions

Fun

Open Communication

Drive Change

Empowerment

Customer Success


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College+; 28% AsiansCustomer success and satisfaction are at the heart of Cisco’s business strategy and key drivers of our current and future success”

John Chambers, President and CEO


Cisco s history of customer satisfaction

5 College+; 28% Asians

4.37

Direct

4.5

Indirect

4

3.5

3

2004

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

Cisco’s History of Customer Satisfaction

3.58

3.96

3.98

4.01

4.06

4.12

4.22

4.33

4.49

4.63

4.73

  • 10+ years of history—formally tracking customer satisfaction

  • Central part of Cisco’s culture

  • Customer satisfaction tied to the bonus plan

  • Organizational ownership

Source: Independent research study; measured on a scale of 0 to 5


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Start-ups College+; 28% Asians


Definition of an entrepreneur
Definition of an Entrepreneur College+; 28% Asians

Entrepreneur is a person who starts new business and:

  • Innovates

  • Takes risks

  • Pursues Opportunity

  • Acts with a passion for a business idea

  • Builds teams

  • Enjoys the journey to create lasting value

  • Persists proactively


Pre requisites for successful start ups
Pre-requisites for successful start-ups College+; 28% Asians

90% hard and smart work, 10% luck

3Rs 3Fs:

  • Pick the Right business

  • Assemble the Right team

  • Search for the Right technology/business model

  • Focus on execution

  • Finance for the long haul

  • Float with ups and downs (willing to detour)


The 3 r s
The 3 “R”s College+; 28% Asians

1. The right business

  • address real problems, real paying customers, real huge market potential, real barrier for others to enter

  • (“Me-too”, “better mouse trap” are not necessary the right business)

    2. Assemble the right team

  • common value, common goal, common work ethics, complementary skills, complementary technical skill

    3. Search for the right technology/business model

  • Unique technology that solves the underlined problems, satisfies paying customers, business model that makes money

    ☼ The above order is not random!!!


The 3 f s
The 3 “F”s College+; 28% Asians

1. Finance for the long haul

Cash is life blood

12 months “runway” - assuming the worst

  • 2. Focus on execution

    Direction setting

  • Key milestones

    3. Float with Ups and downs (Detour)

  • Changes are in-evitable

  • Re-trench and detour

    ☼ You cannot win if you die!!!


Netscreen company overview
NetScreen Company Overview College+; 28% Asians

  • Founded in October 1997 (3 Founders)

  • IPO: Oct. 2001

  • Employees: 600 (2002)

  • Acquired by Juniper Networks (2004)

  • Market Valuation: $4M (1997) to $4B (2004)

  • Builds integrated security solutions

    • Firewall, VPN and traffic management in a single device: family of network security systems and appliances that deliver high performance, cost-effective security

    • Uses proprietary GigaScreen ASIC, and proprietary ScreenOS security operating system and applications


About netscreen
About NetScreen College+; 28% Asians

NetScreen Innovations

Firewall/VPN

1stintegrated firewall/VPN appliance based on a custom ASIC

1st1, 4 and 12 Gbps appliances

1stvirtual system architecture to segment security

Intrusion Prevention

1stto detect and prevent attacks by dropping malicious packets

1stMulti-Method Detection to maximize attack detection

1stStateful Signature Detection to reduce false alarms

  • Leading innovator of network security solutions

    • IPSec VPN

    • Denial of service protection

    • Firewall

    • Intrusion prevention

  • Powerful security solutions

    • Site-to-site, remote access VPN

    • Perimeter security

    • Firewall consolidation

    • Infrastructure firewall

    • Intrusion prevention

    • Emerging applications, such as Wireless LANs, voice-over-IP


Key corporate facts
Key Corporate Facts College+; 28% Asians

  • Strong financial performance

    • Large, growing revenue

  • Global company

    • ~ 600 employees

    • Based in Sunnyvale, CA, USA

    • More than 30 offices worldwide

  • Recognized as leader and visionary by Gartner

  • Leading market share

  • Key awards and certifications

For more on Gartnerand market share


Netscreen relative product positioning
NetScreen Relative Product Positioning College+; 28% Asians

1000

25

500

5XP

100

NSCN

50

5XT

208

204

5400

5200

PIX 535-UR

Cisco

PIX 506E

PIX 515-R

PIX 515E-UR

PIX 501

Firewall

PIX 525-UR

Catalyst6500

Cisco

Site-to-SiteVPN

1700 Rtrs

2600 Rtrs

3600 Rtrs

3700 Rtrs

800/900 Rtrs

7x00 Routers

Cisco

RA VPN

VPN 3030

VPN 3015

VPN 3005

VPN 3002

VPN 3060

VPN 3080

VPN 3060

ROBO

SMB

Enterprise

SOHO

SP POP


Protego networks company overview
Protego Networks Company Overview College+; 28% Asians

  • Founded in 2002 (2 Founders from Cisco)

  • Employees: 40 (2005)

  • Acquired by Cisco Systems (Feb. 2005)

  • Market Valuation: $3M (2002) to $65M (2004)

  • Cisco AVVID Partners, built to be acquired

  • Sell to 60 of Fortune 100 companies in 6 months

  • Builds Intelligent Network Security Solutions

    • Provider of security monitoring and threat management appliances used inenterprise and small-to-medium business networks.

    • Detect, correlate and mitigate threats in the network


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Essence Technology College+; 28% AsiansSolution, Inc.Deliver the Secured SMB VoIP Solution

Essence Technology Solution


Essence technology solution
Essence Technology Solution College+; 28% Asians

  • Foundation : Founded in 2003 in Taipei

  • Capital Size: NT$220,000,000

  • Offices : HQ located in Taipei, and branch in Shanghai

  • Staff : Total 63 employees , 50 of which are

    engineers

  • Product : Focus on total solution

    - IP PBX Series

    - VoIP Gateway

    - IP Phone

Essence Technology Solution


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Networking Technology Trend College+; 28% Asians


The internet revolution
The Internet Revolution College+; 28% Asians


Networking technology trends
Networking Technology Trends College+; 28% Asians

  • Wireless Everywhere (Wi-Fi and WiMAX)

  • Converged Data/Voice/Video IP-based Communications

  • Increasing Number and Complexity of Network Security Threats

  • Emerging Vertical Applications Leveraging New Technologies (e.g., Wireless Video Surveillance)

  • Increasing Overall Networking System Complexity


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Key to Success College+; 28% Asians




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The New Internet Economy river.

Speed of Change…Peaks higher, valleys lower, transitions between the two faster


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The only thing always the same is river.change

The only thing always the same is

change

Agility & Adaptability will win

46


Companies built to last
Companies—Built to Last river.

Customerfocused

Intense…performance driven

Strategy...Vision/mission

Quality ofteam

Stretch goals

Changepart of culture

Empowerment…accountability

Entrepreneurial…Internet pace

Strong culture


2885687

台灣產品的全球市占率 river.

自行車

26%

主機板

98%

集線器

95%

ABS共聚合體

17%

全球第一

18項

無線區域網路卡

89%

乙太網路交換器*

12%

無線區域網路裝置

83%

光碟機

41%

SOHO路由器

83%

IC設計

29%

筆記型電腦

82%

純對苯二甲酸

16%

可錄式光碟片

77%

全球第二

7項

數位相機*

14%

網路電話機

77%

聚酯絲

13%

晶圓代工

71%

聚酯棉

10%

LCD監視器

67%

PU合成皮*

--

電纜線數據機

66%

平面顯示器

25%

雙絞線數據機

37%

DRAM

19%

IC封裝

36%

全球第三

4項

尼龍纖維

12%

玻璃纖維布

34%

螺絲螺帽

12%

電動代步車*

30%

*標示以產量計算,其他產品以產值計算。


2885687

台灣研發潛力深受肯定 river.

OEM

Original

Equipment

Manufacturing

ODM

Original

Design

Manufacturing

OBM

Own

Brand

Manufacturing

WEF全球競爭力評比排名

WEF(瑞士世界經濟論壇)

台灣競爭力

2004

2005

2002

2003

6

5

4

5

成長競爭力總排名

0

4

5

5

6

7

科技指標

總體經濟環境

公共體制

2

6

27

3

18

21

2

9

27

3

17

26

5

11

IMD全球競爭力評比排名

10

11

12

15

商業競爭力總排名

16

16

17

14

18

17

公司營運及策略

國家商業環境品質

16

13

16

16

12

20

13

15

20

22

24

25

2000 2001 2002 2003 2004 2005

成長競爭力僅次於芬蘭、美國、瑞典、丹麥

註 : 2004年WEF評比102個國家,2005年則評比117個國家。


2885687

技術產品創新 river.vs.經營模式創新

行銷

研發

製造

生產管理

產品開發

產品設計

創新管理

品質管理

顧客關係經營

品牌與流通

技術產品創新

經營模式創新

更有效、壽命更長


Questions
Questions river.


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