INFO-I101 Dimensions of Technology: Startups and Entrepreneurship
INFO-I101 Dimensions of Technology: Startups and Entrepreneurship INFO-I101
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This 1 page Class Notes was uploaded by Mei Lin on Monday March 7, 2016. The Class Notes belongs to INFO-I101 at Indiana University taught by Nina Onesti and Dan Richert in Spring 2016. Since its upload, it has received 27 views. For similar materials see Introduction to Informatics and Computing in Information technology at Indiana University.
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Date Created: 03/07/16
Start Ups and Entrepreneurship Lecture (by Mike Trotzke) Monday, March 7,3:44 PM Mike Trotzke • Founder of Sproutbox --> invests in and helps build up startups in Bloomington and the west coast • 3 "Paths" ○ Corporate - select the best choice from the given options ○ Startup - attempt to make available the best conceivable option ○ Academic - research and document the options • About Startups ○ Not about getting rich --> don’t really get a paycheck, especially in the beginning ○ Not about sacrificing life --> encourages a life outside work ○ Not about an idea --> idea has very little to do with startups and success. Timing is far more important. Don't focus on the idea, focus on solving the problem. Adaptability is important here. ○ Not about loving risks --> More about mitigating risk than taking it • Previous Projects ○ Sigstr --> advertises events at the bottom of emails Ways to Engage With Startups • Founder ○ First 1-4 employees ○ 20-80% of initial equity ○ Little/no initial compensation --> no paycheck, high costs (difficult to get cash as investments) ○ High risk ○ More control --> can design corporate culture, foundation of the company, etc. *Smaller founder teams are encouraged(2-3 people at most) *Service businesses are easier to start (no need to develop, market, manufacturer products) • Early employee ○ First 1-25 employees ○ 0-10% of initial equity ○ Underpaid-market initial compensation ○ Medium-high risk ○ Medium control • Employee ○ First 25-100+ employees ○ Late startup stage ○ Stock options, profit sharing, small equity grants ○ Market minus to market initial compensation ○ Medium-low risk ○ Medium-low control ○ Combination between corporate and startup stage • Other Ways ○ Intern - BTP career fair - April 6th ○ Freelancer ○ Volunteer Dimensions of Technology Page 1
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