Startup Idea Generation

Lean LaunchPadLeroy Yau, 43 Ventures

Who am I?

Sharing opportunities

There is only a specific means to a specific end

There is only recipe for failure, not success

Startup Idea Generation

Startup Idea Generation

What is a startup?“A startup is the largest group of people you can convince of a plan to

build a different future.” – Peter Thiel

“A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.” – Eric Ries

“A startup is a company designed to grow fast.” – Paul Graham

Understand your startup

Startup Idea Generation

Passion

Idea Idea Idea

Idea

I want to go to Mars

I want to go to Mars by a Rocket

I want to go to Mars by a Rocket that is fuelled by hydrazine instead of liquid hydrogen

Startup Idea Generation

What important truth do very few people agree

with you on?“Zero to One”, Peter Thiel

You have to be 10 times better than second best.

“Zero to One”, Peter Thiel

The very best startup ideas tend to have three things in common: they're something the founders themselves want, that they

themselves can build, and that few others realize are worth doing.

Paul Graham http://paulgraham.com/startupideas.html

Problem

• Actually Exists!

• Make up idea (based on a chat over beer)

• Will actually use

• Casual validation with nay-sayers

Well

• Narrow and deep

• Small group of strong supporters of something that is only ‘half good’

• Now, now, now (urgency)

Self

• In Zen and the Art of Motorcycle Maintenance, Robert Pirsig says:

• You want to know how to paint a perfect painting? It's easy. Make yourself perfect and then just paint naturally.

• Be at the ‘leading’ edge

• Notice the idea rather than think up an idea

School

• Just do it

• Cross discipline

• Gather like-minded people

Market

• Market size and market share

• Niche market

• A fast path out

Case Studies

New anti-fog technology

New air filtration system using new carbon

materials

R&D Market

Small Tips

• R&D and business development are interrelated

• Licensing vs developing own business/product

Group exercisePitching a startup idea

Small Tips

• Idea sharing is what it is - idea sharing

• Nothing sounds truly exciting at this level - unless something you love in the first place

• Find people who share this ‘madness’ with you

Key Take-aways

Yourself

Customers Competitors

Partners

Team

Investors

AdvisorsFriends

Family

Haters

HOW

WHERE

WHY

WHO WHEN

WHAT

Action vs Inaction

Quantum Physics vs

Newton’s laws

Visionary

Making a vision a reality

創造與創作

Most common mistakes

• Under research

• Limited market validation

• Focus on idea and model

Everything is possible, if time is not limited

Experimenting “The major challenge facing most foundations is that they are risk averse. This inhibits their ability to experiment and commit to

the experimentation and innovation process.” - Steve Levitt

Learning “Live as if you were to die tomorrow. Learn as if you were to live forever.” - Mahatma Gandhi

Doing “Action is the foundational key to all success.” - Pablo Picasso

Q&A