I want to start my venture but how to start ? Where to start? Out of several startups which one is the best one? All these answers are covered in this presentation. This will create a baseline for your innovative idea Reach out to me for guidance, mentoring or collaborations alok.nikhil@gmail.com

1. Innovation: Key of Entrepreneurship and Business
Idea Generation
Alok Nikhil Jha
Chief Operating Officer
IIITD Innovation & Incubation Center
www.linkedin.com/en/aloknikhil
alok@iiitd.ac.in

2. Take Aways
The Buzzword Innovation
Why Innovation
Start-up & Entrepreneurship
How to Start
Business Idea Generation
Business Models to Start

3. The Innovation Ecosystem

4. “Innovation is seeing what everybody has seen and thinking what
no body has thought.”
–Dr. Albert Szent-Gyorgyi

5. Sustaining Innovation
An incremental innovation that enables an existing product without major affect on market.
Evolutionary Innovation : Improves a product in an existing market based on customers feedback
Fuel Injection instead of carburettors | Apple Products | Razor blades
Revolutionary Innovation : New, unexpected, but may not affect existing markets.
Automobiles in 19th Century | Xerox Mouse | Cane Based Prosthetic Legs

6. Disruptive Innovation
The innovation that disrupts an existing market and value network and creates a new market by providing a
different set of values i.e.Alters the way the consumer, business or industries operate.
Internet ofThings (IoT) | Cloud | Mobile Internet | 3D printing
Apple using the Xerox technology in MAC machines

7. Invention vs Innovation
Invention extreme form of Innovation
Development of Completely new or novel product or Process is Invention
Scalable & Successful Implementation of Invention is Innovation.
Is a touch screen laptop Invention or Innovation?

8. –by AskYourself
“AreWe Innovative”

9. Being an Entrepreneur
 Entrepreneurs are born, not made
 Entrepreneurs have Great Idea – Ideas are easy to come, but implementation & opportunities
 Entrepreneurs are risk takers – mitigate risks
 Entrepreneurs are visionary – evolves with opportunity
 Entrepreneurs are extra-ordinary forecasters – willing to live with uncertainty but organise to cope with it
 Age Matters – coca cola founder was 55yr old pharmacist, Dr. Mad science was 10-12 yrs
 You need lots of Fund/Money to Start – Money does not guaranty success
 Starting aVenture is straight forward
 9/10Ventures Fail

10. “All Statements are False”

11. Entrepreneur
Process of changing the ideas into commercial opportunities and creating aValue is Entrepreneurship
Entrepreneur is an individual who thinks, reasons and acts to convert ideas into opportunities
& to create value

12. Innovation vs Startup
From Idea to Innovation
Validation - Commercialization – Startup
Research & IPR
Commercialization | Licensing | Profile Building

13. Startup
Business Venture - Key area is to setup a business to have profit disrupting the market
Flipkart, Snapdeal, Swiggy, Zomato, Cred
SocialVenture - Key area is to solve some social issue with sustainability
Digital Green, Khan Academy
ICT4D -Ventures focusing on Social development, Specific Problem Solving
Parking Spot Finder,Toifi,YT Channels

14. How to Start
Observe,Think, Question, FindValue Addition and Opportunities
Build - Measure - Learn

15. ENTREPRENEUR
Entrepreneur is an individual who thinks, reasons and acts to convert
ideas into opportunities

16. DEVELOPING DISCOVERY SKILLS
 Associating – Ability to make connections between unrelated things,
problems, object, process- project, cause and effect
 Questioning –Why,Why Not,What if… Question the conventional
systems. iPod was developed when MP3 players were well established
 Observing – People behavior – customers, Ex. Ratan tata observed people
using moped/scooter with 3-4 people and then created NANO
 Experimenting – Keep trying and experiment. iPod was first formed using
the fishing boards
 Networking – Like minded people, connectivity about observation and
association

17. IDEA GENERATION/ HOWTO IDEATE
 DISRUPT
MIND MAPPING
BRAIN STORMING

18. IDEAS
An Idea can be disruptive enough to
change the world
Consider UBER, Facebook, Alibaba,
Airbnb, Bitcoin
Each of Idea is Disruptive

19. How to come up with New Ideas?
How to validate the best idea

20. DISRUPT
D – Derive
I – Include
S - Separate
R - Repurpose
U – Unite
P – Personalize
T – Transplant

21. DERIVE
 Extending an existing idea
 Modify an existing idea to create a new one
 Take existing product and service and derive
something from it
 Chaayos from CCD, and Tea shops

22. INCLUDE
 Add something new to a business which already
exists and make it a different one
Electrical Cars Reva were struggling, TESLA
created bigger battery and sporty look

23. SEPARATE
 Separate some specific thing from a product
 Make that single feature the main idea and
offering with your Idea
Key content of Facebook is Images
PINTREST was launched and later Instagram
improvised features of Pintrest with new features
SNAPCHAT for sharing Photos &Videos

24. REPURPOSE
 Change something in Product or Service so
that it can be used for different Use Case
 Slideshare : Founders planned for a
“Youtube” of Presentations and launched
Sideshare

25. UNITE
 Combine two products to create a new
products
 OUYA – Dominated by Sony Play
Station, Microsoft Xbox and Nintendo
 Implemented ANDROID in console and
demand increased exponentially

26. PERSONALIZE
 Design product or service for a focused users or
personalized users
 Example , Go Colors, an Apparel company only for
Girls

27. TRANSPLANT
 Take an idea from one place and
introduce to another place
 Replicate the Model in different
country

28. All Ideas NOT EQUAL Opportunities
EVALUATE Ideas that can be Opportunities
By :
Eliminate
Improve
Prioritize
Strength
Planning

29. SCORE ASSIGNMENT ON SCALE OF 1 TO 5
Investment Required : More investment has less score
Ease of Business/ Ease of Operation : Easy to Start, Grow & Operate Gets High Score
Marketability : Confidence of getting customers, High marketability has high score
Fit with Interest & Strengths : High Score if closely related
Product Differentiation : How different from existing, more different High Score

30. MATRIX FOR COMPUTATION
Factors
Idea
Investment
Required
Easy to
operate
Marketabilit
y
Fit with
Interest &
Strength
Product
Differentiati
on
Weighted
Score
Weightage 20% 20% 25% 25% 10% 100%
Personal
Website for
Students
5 4 4 4 2 1+0.8+1+1+0
.2 =4
=5*20% =4*20% =4*25% =4*25% =2*10%
IDEA 2…

31. Other factors –
-Founding Team
-Employee Hiring
-Finding raw product
 Content Source – WF Global

32. DISCOVERING BUSINESS IDEA

33. “I knew that if I failed I wouldn’t regret that, but I knew the one
thing I might regret is not trying.”
–Jeff Bezos, Amazon Founder

34. MyTurn