Lara Melissa V.

Rodriguez BSICT IV-3

Mrs. Mary Lucena DG. Tagama Instructor

About the Author Dennis Posadas is the author of Jump Start: A Technoprenuership Fable and Rice & Chips: Technopreneurship and Innovation in Asia. His published credits include Bloomberg, Forbes Asia, Christian Science Monitor, South China Morning Post, Darthmouth, Business Journal, Singapore Straits Times, Singapore Business Times, Japan Today, UCLA AsiaMedia, UPI, and other newspaper. Dennis is an engineer by training and is a consultant to the clean sector. He is currently an international fellow of the Washington, DC based Climate Institute. Dennis Posadas writes a technology column for the Philippines newspaper, BusinessWorld. His articles and opinions on Asian Technology innovation have been published in, Forbes Asia, UCLA AsiaMedia, United Press International (UPI), and Singapore Business Times. His previous book, Rice and Chips: Technoprenuership and Innovation in Asia, was published by Pearson Education Asia (Pearson Prentice Hall) in 2007. Posadas worked as a chip equipment development engineer; technology and business analyst and venture capital scout for Intel (based in Manila), and previously with Analog devices. He received his BS Electrical Engineering degree from the University of the Philippines in 1991, and was an Intel sponsored fellow to the Advanced Study Program of the Massachusettes Institue of Technology (MIT) in 1999. Posadas lives in Manila, Philippines with his wife Joy and three young daughters.

Jump Start

The main character of the story is Rajin. He has a wife named Silvia and a friend named Bob. Rajin is an engineer at the Silicon Valley. He wants to return back home to pursue his dream to build a technology company. But his wife didn’t want him to go back home because of her career but she knew Rajin was determined instead, she gave Rajin a deal that if after a few months nothing happens they will go back to resume their career. Rajin made his first client meetings but nothing happen. One day while at the bar he met an older man named Bob. Bob became his mentor. He helped Rajin to find angel investors and even venture capitalists. Venture capitalists typically want to invest equity in startups that are

Intellectual property is the heart and soul of any technology startup.000 a month. he came across a young experienced engineering manager from one of the local technology firms. and describes the product he was building. They prefer to deal with suppliers who have sold the same product elsewhere. he also told the software developer that before he leave he make sure he brief his replacement about the code he were working on. They are currently burning cash at around $10. Rajin talk to the software developer to stay until they had finish and deliver the product. Rajin and Bob went to the manufacturing floor of the electronics company where Rajin planned to assemble and tested his product. In . Rajin also used statistics to determine if the design activities are getting somewhere whether they are contributing to improvements in the product. Rajin understood the problem. first is their Software Developers is quitting after receiving a good offer from other big software company. Rajin could easily get hold of those analyzers in the U. And the second none is they need more accurate analyzer to determine some of the timing issues having with the chips and the bus. A different trend in the software sector is open source.. They use statistical charts to measure and track the quality of the product. Bob helped Rajin to attract capital. purchasing managers from big companies don’t like doing what they have to. He started by talking about the problem and the size of the market. Rajin called his developers and the subcontractors to tell them to expect an order from him in a day also. The engineering manager told Rajin that there are some problems. Many tech startups rely on intellectual property. He reassured his wife that as soon he gets investors he’ll fix it immediately. Normally. where software developers offer the code for free and instead make money from supporting the software. Bob asked Rajin to have his Intellectual Property Strategy. and make sure everything is well documented properly. Reference Client means a client that can use to convince other companies to buy products. Angel Investors are individual investors who may be more willing to help at the very early stages of a venture’s life. as well as the amount of capital investment he was looking for. He discussed the revenue projections. Rajin and Bob discuss what portion of their technology they would outsource. After two weeks of interviewing various candidates. and which part they would develop inhouse. After the meeting. The Accountant walked into Rajin’s office and discussed the cash flow situation.already running. including the market demographics. He introduced him to the rest of the developers in the company. but they could not afford it because it cost thousands of dollars and it is not easily available locally. hiring and retaining skilled people and making sale. Bob and Rajin scheduled more clients presentations. so they’ll know if the product is any good.S. Rajin prepared his presentation. Rajin arrived home to talk to his wife about the stock price. Bob and Rajin met at the office of the Acme Telecom to talk to the Purchasing Manager to be their first reference client of their company. He prepared them to be ready for the product. Rajin and Bob arrived at the local engineering university to hire his engineering manager.

” said the Dean. He asks for help from the University. Availability. Rajin decided to give them some equity in the company. companies or institutions. Patents are really monopolies on ideas that governments grant to individuals. We’d like to see more companies like what you have sprout up. But still they could not think of any reason why the system was having a problem. “In that way you protect yourself from the claim that the technology has already been disclosed as prior art. The Intellectual Property (IP) Lawyer looked at the drawings. and grows them to the next higher level. he makes it easy for the guys who’ll be taking over his work.other words. in exchange for a public disclosure of an idea. After resetting the settings of the system it immediately went up on the instrument panel. Maintainability and User Friendliness” said the customer. Rajin drove for about a mile towards the University campus. Before the Dean agreed he first makes a quick phone call. The customer agrees. He would be making the final decision whether to accept the product or not. The Intellectual Property Lawyer visited them to discuss to them the Intellectual Property strategy. the customer called the Engineering Manager to tell the problem. After finishing the product the Engineering Manager went to the Acme Telecom testing Facilities to meet the customer. . The customer told about the problem that it only happens around 1% of the time and it does not meet the specifications. the source codes. Until the youngest Software Developers has found out the problem. The customer was very happy and wanted to have more work with them. And to reward them for their loyalty and hard work. They just hired him fresh from school barely a week ago. We’ve been putting it through the paces. so he could easily maintain good relations with the faculty. Venture Capitalist takes existing technology ventures. After all. The Engineering Manager decided to get there down to see the problem.” said the IP Lawyer. it was the Venture Capitalist who is interested in investing. “Many people don’t realize that technology entrepreneurs are born out of an ecosystem that nurtures it. and other proprietary items on the table. even up to an initial Public Offering (IPO) or an acquisition. After testing. to see if there are any bugs in the system. System efficiency is now up by 15%. The Engineering Manager asks the customer to change the setting of their system. he thanked Rajin for giving him opportunity to work in his company. Rajin received a phone call. for his staff who worked on the product and to tell his staffs the good news. various board designs. He first says thanks to his staff for the hard work and sacrifices they have given to the project. The IP lawyer files a Patent. it eventually helps the University as well. As a University. The Developers went through possible cause that they could think of. “We need to tests its reliability. Rajin and Silvia decided to stay. We are also testing it Mean Time Between failure (MTBF). The Software Developer understands what Rajin say. The staffs are very happy with the good news. we realize that and our role in it. He went to the Dean’s office to talk to the Dean to have a permission to use the expensive analyzer at the lab that his staff needs to use. He picked an office location close to the University. Rajin throw a dinner celebration at his home.

Sadly.  Avoid those hidden motives for investing in your company. Rajin realizes the real meaning of being successful technology entrepreneur.  Listen to others who have experience in building a business. Do not micromanage them instead let them surprise you with what they can do. . Rajin’s company had already become one of the biggest technology companies in the country. Bob had already passed away. Expects problems to crop up regularly at the start. The halls of Stock Exchange reverberated with the loud sound of the bell as their issue announced.  Have a business plan that you can revisit every so often.  When picking a supplier. Rajin dressed up smartly in his grey suit for the big day. In the end.  Do not be afraid to think of new ideas to improve more the business.  When deciding to start a business you need to be sure of the reason why you are doing it. and which ones you will need to design and build. The term sheet sys they want 51% of the company in exchange for the first tranche of half a million dollar”. pick the best supplier who best fits your needs. We should be ready in facing those problems. The Initial Public Offering (IPO) of the company is going to push through. the information you are able to gather from these discussions can help your company develop a better product. Unfortunately Bob’s conditioned began to deteriorate.  Look for intelligent investors who are familiar with the industry you are targeting. one that you never envisioned from the start.  Allow a little leeway in managing creative talent. failures and disappointments we have to face.Bob and Rajin discussed about the Venture Capitalist. The Venture Capitalist called Rajin for the good news. Rajin said Bob told Rajin that he is sick but he can still work and help him grow the company. Lesson Learned  In starting a business at the beginning there are many trials. Sometimes. When talking to potential clients do not be discouraged.  Have strategy for which parts of your technology you can outsource. A few years later. “The offer from the Venture Capitalist is 1% per share. Who can guide you with your decision and may help you sometimes.

 When you become successful we should not forget the people who helped us. We should be careful in making decisions. consider renting or borrowing those at first.  Take care of your people if you want to get excellent results from them.  Treat everybody like a family and friend. Understand that they are part of the team. . Instead of buying expensive items or services outright. the business is on the way to becoming very successful.  When having a problem listen to the idea of other people because sometimes the best ideas come from others. Minimize your fixed costs. If everybody knows the roles they are expected to play.

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