Agenda- 2/12Coming AttractionsTeam Formation and Selection of PatentsSuccessful EntrepreneursWhat creates opportunities?Some Technology Trends That Will Create OpportunitiesSome Social and Cultural Trends That Will Create OpportunitiesCharacteristics of an Attractive OpportunitySmall Group Exercise (Consider the 5 factors presented today)Important Information from InventorsAgenda- 2/12•Housekeeping and Coming Attractions (10’)•Update on Forming Teams & Patent Selection (10’)•Opportunity Assessment (20’)•Small Groups- “Why was it successful (or not)?” (20’)•Inventor: Prof Alex Chang- Printable Electronics (30’)•Inventor: Prof Manoj Pastey- Bird Flu Test (30’)Coming Attractions2/14 Wed•Invention: Expander/Compressor- Prof Peterson (30’)•Invention: Superlens- Prof Podolskiy (30’)2/19 Mon•Invention: Novel Drug Delivery Systems- Prof Ayres (45’) in Weatherford•Business and IP Databases: Margaret Mellinger (40’) in Autzen (Valley Library)•Assignment: Screening Inventions and Prioritize Choices (JT-15’)2/21 Wed•Students submit individual patent screening results (3’ each- 60’)•Market Research- Curtis Wright (60’)2/26 Mon•Announce teams, patents, and appeal process (JT- 15’)•Commercialization Options (JT- 45’)•Teams meet and discuss marketing research and expectations (60’)Team Formation and Selection of Patents•Inventor presentations will occur over the next three class meetings–Mon, 2/12: Printable electronics and Bird Flu test–Wed, 2/14: Expander/compressor and Superlens–Mon, 2/19: Novel drug delivery systems•Make your own assessment of inventions based on your own factors or those presented in class today. •Prepare a short presentation (3’) and 1-2 page summary due Wed, 2/21 with rank ordering of patents and reasoning for selection•Including your input I’ll develop 3-5 member teams with complementary skills, and a specific patent for each team•I will accommodate individual preferences as much as possible•There will be an appeal processSuccessful EntrepreneursEntrepreneur Company founded Age at time of start Year of startBezos, Jeff Amazon.com 31 1995Cook, Scott Intuit 31 1977Dell, Michael Dell 19 1984Dubinsky, Donna Palm Computing 37 1992Gates, William Microsoft 20 1976Hewlett, William HP 27 1939Hurley, Chad YouTube 29 2005What creates opportunities?•Destabilizing influences- changes in technology, style, or economic incentives•Rapid Growth of the Technology Sector–Increasing pace of technology development–Increasing pace of information creation•Social or Cultural ChangesSome Technology Trends That Will Create Opportunities•Life Sciences- genetic engineering, genomics, biometrics•Information technology- internet, wireless devices, interconnectivity•Nanotechnology- Devices 100nm or less for drug delivery, biosensors, and other applications•Energy - fuel cells, energy efficient appliances, new heating & cooling methods, energy transmission, “micro-energy” generation•Green Technology - renewable fuel sources, recycle and reuse, bioremediation, recognition of the “carbon footprint” •Robotics- teams of small coordinated robots for monitoring or safety functions•Security devices- personal identification, computer security, “smart” cards•Human/Computer Interface- speech recognition, improved man-machine information transfer and sharing•Entertainment- available anywhere, anytime, can be personalizedSome Social and Cultural Trends That Will Create Opportunities•Aging of the baby boom generation•Increasing diversity of the people of the United States•Rising middle class of developing nations•Pervasive influence of media- television, DVD’s internet•Decreased “information asymmetry” due to the internet•Two working parent families•Others?Characteristics of an Attractive OpportunityTimely- a current need or problemSolvable- can be addressed in the near future with accessible resourcesImportant- the customer deems their problem worthy of being solvedProfitable- the customer will pay for the solution and allow a profitContext- a favorable regulatory and industry situationSmall Group Exercise(Consider the 5 factors presented today)•Assess the likely success of one of the following new technologies in the marketplace. Will they succeed? –Ethanol based Biofuels–GPS system on your cell phone–Power from ocean waves•Explain the success (or lack of success) of these existing products or technologies–Netflix–Electric cars–Videophones•Pick a spokesperson and explain your reasoningImportant Information from Inventors•Basic understanding of technology: –What problem it solves–How it works–What it can and cannot accomplish–What similar approaches have not worked•Current IP position- is it patented, at application or invention disclosure stage?•What supporting or enabling infrastructure is required? Is it already in place?•Do they view the technology as disruptive or incremental? Why is it better?•Are there competing patents covering the technology or support infrastructure?•How far has the technology progressed?–ready to sell now!–needs some more development, but can easily envision the product or service with existing infrastructure–more invention required in basic concept or supporting infrastructure•How much tacit knowledge does the technology