The first of my course touches on the definition on entrepreneurship, the different forms of entrepreneurship, how countries measure growth of entrepreneurship activity, and the first toolkit: how to identify ideas and business opportunities. We also provide some interesting case studies for example, Aravind Eye Centre for social entrepreneurship. This is a series based on a course "MPS 812: Entrepreneurship" I have been teaching in School of Physical & Mathematical Sciences, Nanyang Technological University.

1. Lecture 1: Introduction, Identifying
Ideas & Business Opportunities
Dr Bernard Leong
CTO & Co-founder
MPS 812 Course Taught in:
1

2. Course Objectives: I am not teaching you to be an entrepreneur.
2

3. Learn the tools of setting up new enterprises.
3

4. To Introduce the Entrepreneurial Process &
Preparation of Business Plan for New Ventures.
4

5. Basic Understanding and Application of Business Strategies,
Marketing Strategies and Accounting for New Ventures.
5

6. Basic Understanding of Intellectual Property Issues that any
businesses may face.
6

7. Entrepreneurship: the activity
of organizing, managing, and
assuming the risks of a
business or enterprise.
Entrepreneur: an entrepreneur
is a person who engages in
the activities mentioned
above.
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8. “The Entrepreneur always
searches for change, responds to
it & exploits it as an opportunity” -
Peter Drucker
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9. LOW HIGH
CREATIVITY & INNOVATION
HIGH
Inventor
(Ivory Tower) Entrepreneur
LOW
Promoter Manager,
(Evangelist) Adminstrator
GENERAL MANAGEMENT SKILLS
9

10. 10

11. Core & Desirable Attributes
Desirable Attributes
LACK OF DISCIPLINE
PERFECTIONIST
INTELLIGENCE INSPIRATIONAL
Core Attributes
Commitment & Determination
Leadership, Opportunity
Seeker
Tolerant of Risk, Creativity
Ability to work in chaos
A d a p t a b i l i t y, C o u r a g e ,
Motivation to Excel
KNOWS IT CREATIVITY &
VALUES
ALL INNOVATIVENESS
IMPULSIVENESS
ENERGY, HEALTH & ANTI-ESTABLISHMENT
EMOTIONAL STABILITY
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12. Types of Entrepreneurship
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13. Social Entrepreneurship: Creation of Business or Innovation
focus on solving a social or worldly cause.
Example: World Toilet Organization - Jack Sim (Singapore)
http://sgentrepreneurs.com/social-entrepreneurship-sustainable-development/2009/06/30/jack-sim-world-toilet-organization/
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14. • In 1991, India has 20M people
suffering from blindness
(Population of 850M at that
time).
• Required to provide cataract
removal so that the patient has
95% of improved vision.
• Common method used in
developing countries:
Intracapsular surgery without
intraocular lens (ICCE)
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15. • Aravind Eye Hospital founded in 1976 by Dr Govindappa
Venkataswamy.
• Aravind evolved itself not just as a healthcare service giver but
also as a social enterprise that helps to deal with the blindness
problem in India. It treated 2.4M poor Indians over 30 years.
• Interesting Features: Eye Surgeries run 24 hours with doctors
focus on surgery and nurses focus on pre and post eye care.
Free surgeries for the poor and also a top class R&D centre on
eye treatment in the world.
• Invested by the Acumen Fund
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16. Intra-preneurship: Creation of a new business within
an existing organization (tech oriented)
Corporate Entrepreneurship: refers to the process whereby
firms engage in diversification thru internal development
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17. How do we understand Entrepreneurship &
Entrepreneurs as an economic activity for a
country?
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18. Organizations in Singapore Government
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19. Key Organizations within NTU for Entrepreneurship
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20. Enterprises in SG
• Small & Medium Enterprises are
defined in SPRING Singapore in
terms of fixed assets investment
& number of employees.
• Manufacturing enterprises with
net fixed assets investment of
S$15M and below.
• Non-manufacturing
enterprises with 200
employees and below.
http://www.business.gov.sg
• 99% of enterprises are SMEs, http://www.spring.gov.sg
and employ 6 out of 10 workers
& contribute half to National GDP.
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21. The Global Entrepreneurship Monitor Framework
http://www.gemconsortium.org
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22. Early Stage Entrepreneurial Activity by Country
22

23. Level of Entrepreneurial Activity by Age in
Singapore (GEM 2006)
TEA = Total Entrepreneurial Rate
(Early Stage Startup Rate)
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24. 24

25. World Bank: DoingBusiness.Org
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26. The Big Picture
26

27. Once
you
work
that
out,
What
is
the
problem
Execu8on
is
key. you
are
trying
to
solve?
What
type
of
resources Are
there
customers
or
do
you
need
to
solve
there
is
an
exis8ng
your
problem?
market
for
your
Mentors,
Partnerships
or solu8on?
Resources?
Who
are
the
exis8ng
players
from
partners
to
compe88ors?
How
are
they
benchmarked
against
your
idea?
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28. Window of Opportunity
• Describes the time period in
which a new firm can
realistically enter into the
market.
• New entrants (2nd movers
onwards) will enter into the
market once the window is
opened.
• Interesting to note: Google is
not the first in the search
business nor Facebook in the
social network business.
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29. 29

30. When is an idea an opportunity?
• Create or add value to
customer.
• Solve a significant problem,
removing a pain point or
meeting demand.
• Have robust market, profit
margin and money
marketing.
• Good fit with founder &
management team at the
right time & place
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31. Opportunity Analysis
Focus on idea and market of the idea.
Talk to industry leaders and players in the same space as the idea.
A typical opportunity analysis plan has four sections:
1. Description of the idea and its competition.
2. Assessment of the domestic and international market for the idea.
3. Assessment of the entrepreneur and the team.
4. Discussion of the steps needed to make the idea the basis for a
viable business venture.
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32. How to Identify an Opportunity
Observing Market Solving the Problem Finding Gaps in the
Trends marketplace
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33. 1. Observing Trends
Observing Market
Trends
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34. 2. Solving a Problem/Pain Point
• Notice a problem & finding a
way or solution to solve it.
• Observing trends and ask
people around what their
Solving the Problem problems are.
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35. • Finding a gap in the
marketplace.
• Oftentimes, big corporations
might give up niche markets
which new companies can take
advantage of.
• Niche markets can be scaled
Finding Gaps in the
marketplace up to a mainstream market or
allow disruptive technologies to
go mainstream.
35

36. Root of Change/Chaos/Discontinuity Opportunity Creation
Regulatory Changes/Change in Government Telecommunications, Social (New) Media, Medical,CPF
Legislation or laws changes
10-fold change in 10 years or less Moore’s law, Real Estate market boom or bust
Reconstruction of value chain and channels
Superstores, Internet Stores
of distribution
Existing management/investors burnt out/
Turnaround, New capital structure
under-managed
Market leaders and customers obsessed or Ignore small and niche customers, creation of niche
customer blinded businesses
Entrepreneurial Leadership New vision and strategy, generation X thinking
Technology innovation: Patent, license, contract, franchise or
Proprietary or contractual change
copyrights or distributorship
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37. Feasibility Analysis
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38. Feasibility Analysis Process
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39. Feasibility Analysis
• The process of determining
whether a business idea is
viable.
• Preliminary evaluation of a
business idea .
• Conducted for the purpose of
determining whether the idea is
worth pursuing
• Determine to a certain degree
of probability the possibility of
whether idea is viable
39

40. Product/Service Feasibility Analysis
• Assessment of overall
appeal of product or
service being
proposed.
• Determine whether
there is a market for
the product or service.
• The two components
of a product/service
feasibility: Concept &
Usability Testing.
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41. Preparing a Concept Statement
• A concept statement is
developed before a
company undertakes
product/service feasibility
analysis.
• One page description of a
business that is distributed
by entrepreneur for startups
to people who are asked to
provide feedback on the
potential of the business
idea.
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42. Preparing a Concept Statement
• Description of product or service being
offered.
• Intended target market
• Benefits of product or service.
• Description of how product will be positioned
relative to similar ones in the market.
• Description of how product or service will be
sold & distributed.
• Information about founder or founders of the
firm
42

43. Model for Opportunity Recognition
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44. References
• McKinsey & Co., “Starting Up”
• Robert et al, “New Business
Ventures & the Entrepreneur”
• Kotler et al, “Marketing
Management: An Asian Perspective”
• Megginson & Byrd, “Small Business
Management”
• Timmons & Spinelli, “New Venture
Creation”
• Thompson, Strickland & Gamble,
“Crafting & Executing Strategy”
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