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A new competition--part of the Startup America effort launched by the Obama Administration, and spearheaded locally by Caltech, USC, and UCLA--said today that it is looking to award $200,000 in prize money to university students with clean energy business ideas. The competition is being funded via $360,000 grant from the U.S.
Last week, the University of Southern California 's Viterbi School of Engineering announced that it had established a new, business plan competition, the Maseeh Entrepreneurship Prize Competition ([link] specifically aimed at students in the engineering school. Why a business plan competition, and why in engineering school?
This time, Frank gives the Top 10 Ways to Win a Business Plan Competition. I'm a judge in a local university's business plan competition. Over the past few years I've been involved in different ways in the UC Irvine, Paul Merage School of Business, Business Plan Competition. They came in 2nd place. They came in 2nd place.
The University of Southern California and wealthy engineer Fariborz Maseeh , now a hedge fund manager in Newport Beach, is announcing this week a $1M endowment, which will fund an annual, $50,000 prize for a business plan competition for the school's engineering students. affiliated event focused on spreading innovative ideas.
As a business mentor, I sometimes feel besieged by people begging for my view and support of their latest idea. In reality, I like most ideas, but I have to tell them that the real challenge is taking the inspiration from a dream to a business reality. It seems like everyone wants to be an entrepreneur and get rich these days.
The core idea behind the event is to tap into the hacker spirit in each community in a way that leverages the latest tech and open data to strengthen our democracy and communities across the country. Tech leaders from NASA JPL, to the Census Bureau will share inspiration and ideas. Not a coder?
He lived the philosophy that companies must be paranoid in order to survive, and continually disrupt their own markets to prevent overrun by competition. New blood and new ideas are keys to agility. Make sure your teams are enabled to make timely decisions, as well as accountability for staying competitive in their domain.
Thursday, March 25, 2010 -- OCTANe and Cleantech Open: 2010 Competition Breakfast Briefing. Enter the 2010 Cleantech Open Business Competition. The mission of the Cleantech Open is to find, fund, and foster the big ideas that address today's most urgent energy, environmental, and economic challenges. See [link] (more).
One thing I have learned the hard way in business is that implementing new ideas is usually much more difficult than conceiving the idea in the first place. That’s why I caution my aspiring entrepreneur clients against proclaiming to investors that they are a great “idea” person. For example, I have a friend with a Ph.D.
One of the complaints I often hear from engaged business professionals is that their new ideas, innovations, and change recommendations are unfairly criticized or dismissed without analysis. This argument is actually not attacking the idea, but shows a generalized resistance to change. Your idea has unpredictable negative side effects.
Investors are very focused on diligence, on business models that make sense, and those companies that have a definite competitive advantage and defensibility to what they're doing. The ideas and people seeking money are out there in quantity. Before, when things were frothy, people were not as discerning as we are now.
Why is it that only the most successful entrepreneurs , including Mark Zuckerberg, Bill Gates, and Richard Branson, admit to having a mentor and actually use them? Obviously, I’m a big fan of business mentors based on my own experience, since I have been at different times on both the contributing and receiving end of the relationship.
Freelancers and consultants have to demonstrate results, without training and mentoring, so they can help you more quickly and probably at a lower total cost. Leveraging the global network will improve your odds of a highly skilled match, and bring diversity, as well as more innovative ideas and thinking to your team.
As a business mentor, I sometimes feel besieged by people begging for my view and support of their latest idea. In reality, I like most ideas, but I have to tell them that the real challenge is taking the inspiration from a dream to a business. Now you see why no one should judge business success potential by the idea alone.
As a business mentor, I sometimes feel besieged by people begging for my view and support of their latest idea. In reality, I like most ideas, but I have to tell them that the real challenge is taking the inspiration from a dream to a business. Now you see why no one should judge business success potential by the idea alone.
Local mentors matter. That was my original idea behind Launchpad LA. I figured if we couldn’t fund every company locally we should at least embrace them as a community and show that we’re willing to mentor them whether they raise their money in town or not. No – I’m not worried about the competition.
There is a large menu of startup accelerators in the Los Angeles, but one of more established efforts in the area is LaunchpadLA ([link] The effort actually started as an informal mentoring program, but has grown and expanded to follow the accelerator model. We're not investing in ideas and trying to turn them into companies.
The core message is that real innovation and competitive advantage are more people-based than product or process-based. Every good entrepreneur needs a people-centric focus to ferret out creativity and innovation in his team, and to build a sustainable competitive advantage. Connect the dots. See the big picture.
Ironically, as a startup investor and mentor, I have seen too many failures caused by just the opposite – too much money spent too soon, taking time to get product perfection, and assuming customers will wait. How entrepreneurs respond to these will become a larger and larger determinant of startup growth, competitive position, and success.
I was having a chat with an entrepreneur who I really like and who I try to mentor from time-to-time. But I tell people up front when I think the idea won’t work, the team is wrong or the strategy is off base. If you’re hot you might be able to push this down to 15-20% depending on the investor and the competition.
He had an idea for a startup that would help consumers better book service jobs and would take on Service Magic, which he believed had a business model that could be disrupted. I acted as the occasional mentor, advisor and coach to Ethan. In the same year they won Business Insider’s Startup competition. Nice sweep!
Most colleges have now added classes in entrepreneurship to include the necessary business focus to technical majors that usually drive innovative ideas. Take advantage of free startup programs and mentors. Every school recognizes the power of “hands-on” work to help you develop your own ideas into a business.
” Most VCs view it as their responsibility to mentor, debate, cajole and generally assist with investments they make. Thus, a desire to invest more locally where I think I have a competitive advantage. ” I know some people will cringe at this idea, “if the VC really wanted me they would come to ME.”
Due in large part to the current economy and an ultra-competitive job market, a Gen-Y entrepreneurial tsunami is already upon us. For a startup or small business executive serving as mentor, the proverbial “win-win” is created as they benefit from an injection of essential bandwidth, youthful energy, and technical expertise.
Aspiring entrepreneurs ask me why their great idea hasn’t sold; they talk about it endlessly, and they expect others to do the development, finance, and marketing work for them. There is nothing more inspiring than seeing the results of your mentoring and leadership. Love that sustainable competitive advantage.
That’s why all those so-called million dollar ideas I hear about as an investor don’t get me excited, and entrepreneurs find that working twenty hours a day often generates nothing more than sweat, instead of the desired sweat equity. Similarly, it will be very satisfying to see the productivity increases from your leadership and mentoring.
In my role as a mentor to aspiring entrepreneurs, I find that most have the technical challenges well understood, but many are a bit short on some basic street smarts , or basic business realities. Intellectual property is required for a competitive edge. Even the best college degree is not a substitute. Neither is good.
Entrepreneurs are people who dream up new ideas, and then commercialize them into new businesses. Most people believe that the hard part is coming up with the idea, and the easy part is turning it into a business. Business objectives need to be quantified and measured to assess progress and positioning against competition.
The core message is that real innovation and competitive advantage are more people-based than product or process-based. Every good entrepreneur needs a people-centric focus to ferret out creativity and innovation in his team, and to build a sustainable competitive advantage. Connect the dots. See the big picture.
As a mentor, I’m regularly frustrated by people who try to cover their lack of confidence with ego and arrogance , rather than working on the base issue. As you look at your own idea of fun and success, self-esteem and support will come from greater competence in these areas. Show that others are an inspiration, not competition.
Get connected to the right mentors and your business may catapult to the next level. I figured if Matt was on the verge of bankruptcy and one mentor changed his trajectory, what if we had a formalized, community-wide program? o Put a timeframe/money – competition in the picture. The answer? Something so simple.
The core message is that real innovation and competitive advantage are more people-based than product or process-based. Every good entrepreneur needs a people-centric focus to ferret out creativity and innovation in his team, and to build a sustainable competitive advantage. Connect the dots. See the big picture.
As a mentor to many business professionals and owners, and aspiring entrepreneurs, I find a wealth of innovative ideas, but often less insight on what it really takes to transform ideas into an income stream that can excite new customers into long-term business success. A great innovation starts with at least three ideas.
Based on my experience and a business advisor and mentor, this is the ideal time to get back to the basics of business leadership and innovation. Team members recognize and support business leaders tenacious in their implementation of change, rather than ones who quickly jump from one idea to another, with minimal follow-through or analysis.
In my own experience as a startup advisor and mentor, I find that entrepreneurs who can’t attract and maintain a highly motivated team rarely even get off the ground. Good hiring, training, and mentoring are the best motivators. So if your mission is to change the world, a great idea may be necessary, but is not sufficient.
I call this linear thinking , and it’s a sure way to be ultimately overrun by your competition. One way to do this is to nurture mentoring relationships with experts in other disciplines, as Bill Gates did with Warren Buffet. Generously reward your team for learning from innovative ideas, including failures.
In my role as mentor to business professionals, I often get the question about your potential of going out on your own as an entrepreneur, versus your current role of working for a boss at an established company. Most people think success depends on first having that innovative and unique idea, but I would beg to differ.
As a mentor to aspiring entrepreneurs, I often feel the frustration of someone trying to build a startup in the wrong place and time, and wrongly attributing their struggle to personal limitations. Contrary to popular belief, innovative new ideas don’t often spring from a single mind. Building a startup is not a solo operation.
The core message is that real innovation and competitive advantage are more people-based than product or process-based. Every good entrepreneur needs a people-centric focus to ferret out creativity and innovation in his team, and to build a sustainable competitive advantage. Connect the dots. See the big picture.
In my role as a mentor to aspiring entrepreneurs, I find that many of you have your most creative ideas for your company’s first big bang , but often get bogged down with details as the company grows. Reward ideas with peer recognition and praise. The key is to flush out ideas quickly, and close in on the final solution.
I’ve spoken before about our desire at Upfront Ventures to fund really big ideas that solve hard problems, are science led and if successful will both have a positive effect on people’s lives as well as make great financial returns. We’re not Pollyannaish about this. They have raised $14 million to date.
Richa is a successful entrepreneur and technologist giving back to the entrepreneurial community in many ways, including his weekly Internet TV program on entrepreneurism, and participation in several mentoring programs. . Business planning is a crucial part of a successful business. assess past performances.
Thus, in my mentoring of potential technical entrepreneurs who have a real passion for their technology, I often recommend that they find a co-founder who can manage the marketing and execution elements of the new venture. Many smart people I know fall into the category of “idea” people.
Other project and research reports in their library are a rich source of new ideas, if you are still looking for a place to start. Access to entrepreneurs-in-residence, business mentors. Most schools have a rich pipeline of real-world executive volunteers available for mentoring. They can also connect you to area businesses.
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