Do You Know …

o The Difference Between Founder & Cofounder?

o Who were the Cofounders of Facebook & their Roles?

o Complete Start-up Process?

o Difference Between Copyright & Patent

Let’s Discuss @ Unacademy_RonakShah

A New Batch
by Innovation &
Ronak Shah
Entrepreneurship
 Ronak Shah
QA | LR | PI | Careers

BE, MBA,
14 Years –
CAT, Aptitude, Placements
99 Percentile
Join with us in Telegram

Telegram Channel

Unacademy_RonakShah
Syllabus

▪ Concepts of Innovation in Businesses

▪ The innovation adoption of the life cycle

▪ Entrepreneurship and Start-ups

▪ The Entrepreneurial Development

▪ Stages of Starting a Venture

▪ Different Types of Start-ups

▪ Entrepreneurship & Government Policies

The Start-up Process*
1. Ideation

2. Cofounder

3. Prototype

4. MVP, Beta & Early Adopters

5. Business Model & Revenue Model

6. Business Plan

7. Branding and Register the Company

8. Funding * This varies from Book to Book…

1. Ideation Stage
o You need to ask yourself and your prospective

customers varied questions in order to select and

validate your idea.

The Start-up idea should…

o Solve an actual problem that exists in the market.

o Offer a solution that is really required by at least some people.

o Have the potential for growth.

1. Ideation Stage – IMP Terms

POC – Proof of Concept

o An idea is just a mental construct of a business opportunity that

you come up with.

o A concept, on the other hand, is an idea that has gone through

the process of fine-tuning and has been tested for its

credibility.

o Proof of Concept (POC) is an exercise done to determine the

feasibility of the idea and to verify whether it has a practical

potential in the market or not.

1. Ideation Stage – IMP Terms

Target Market

o Target market refers to a specific and well-defined

consumer segment within the business’s serviceable market

which the business wants to sell its products and services

and direct its marketing efforts to.

o Think about: iPhones, FitBit, Netflix, Unacademu

o Market segmentation is the right way to identify the Target

Market.
2. Cofounder
o Startups with 2 or more co-founders are more likely to succeed.

o The founding team of a startup must have expertise in all the

areas of a business and that is only truly possible with a team.

Why Cofounder…??

o A founder is usually the person who has a defined idea of a business. But they may

or may not have adequate finance or man-power or even lack some required skills

to realise it. This is where the Cofounder comes handy.

FACEBOOK Case
o Facebook was born out of Zuckerberg’s head during his university

days and the access to Facebook was initially limited to the

students of Harvard University.

o However, Zuckerberg wanted to expand the Facebook

business model and hence, called his fellow mates to help

him for the same. The fellow students included Eduardo

Saverin, Dustin Moskovitz, Andrew McCollum, Chris

Hughes.
3. Prototype
o It converts an idea into a concept that has a

physical structure.

o This concept can be presented to

stakeholders or audience to test its viability

and validate assumptions..

o Prototyping is not just designing the Product but also

testing it in the Market

3. Prototype
Prototype is useful for:

o Validate the design of the product,

o Present to investors or licensees,

o Protect the Intellectual property,

o Remove kinks in manufacturing,

o Test and refine the final product.

3. Prototype - IMP Terms
IPP (Intellectual Property Protection)

o Intellectual Property Protection is protection for inventions,

literary and artistic works, symbols, names, and images

created by the mind.

o Following are the IMP IPs

• Copyrights.

• Trademarks,

• Patents,

• Trade Secrets
3. Prototype - IMP Terms
Copyrights

o Copyright protects the rights of “authors” or “Creators” in their

original creative works.

o Copyrightable works include artistic creations, like novels,

paintings, films, and songs, but also business-related works like

software code, website designs, architectural drawings, marketing

reports, and product manuals.

o The author/creator of a copyrighted work has the exclusive right

to Reproduce (print or copy), publish, perform, etc

3. Prototype - IMP Terms
Trademark

o It is a symbol, word, slogan, design, color, or logo that identifies

the source of a product or service, and distinguishes it from those

made or provided by others.

Trademarks can represent:

o The product or service itself (ex. iPhone)

o A feature or element of the product or service (ex. FaceTime)

o The manufacturer or provider of the product or service (ex. Apple).

o A “service mark” is a trademark that identifies a service

3. Prototype - IMP Terms
Patents This is
Patented
o It protect the rights of inventors. It is for 20-years.

o A patent entitles you to exclude others from making, using, or

selling your invention.

o Most patents are utility patent that protect “any new and useful

process, machine, article of manufacture, etc

3. Prototype - IMP Terms
Trade Secrets

o A trade secret is a formula, process, device, or other business

information that companies keep private to give them a business

advantage over their competitors.

o Examples of trade secrets include:

• Soda formulas

• Customer lists

• Survey results

• Computer algorithms
3. Prototype - IMP Terms
Trade Secrets

o Unlike the other types of intellectual property, you can't obtain

protection by registering your trade secret. Instead, protection

lasts only as long as you take the necessary steps to control

disclosure and use of the information.

o Businesses use nondisclosure agreements, restricted access to

confidential information, post-employment restrictive covenants,

and other security practices to maintain trade secrets.

3. Prototype - IMP Terms
License

o Licenses are contracts that transfer IP rights from the owner of

the rights (the Licensor) to a third party who wants to use them

(the Licensee).

o They can be exclusive (rights are granted to only one Licensee) or

non-exclusive (rights are granted to multiple Licensees).

o A Licensee typically pays the Licensor a royalty.

o Royalties are usually based on a percentage of the revenue the

Licensee generates or can be a fixed amount.

4. MVP, Beta & Early Adopters
o A minimum viable product (MVP) is the first saleable version of

your product designed with minimum yet sufficient features to

satisfy early adopters.

4. MVP, Beta & Early Adopters
Beta version

o It is an early release of the offering that’s almost ready but

might have bugs that can only be found when a wide user

base tries it out.

o Beta is the second letter of the Greek alphabet, suggesting

that it is the second development phase that usually comes

after the MVP or the alpha testing.

o Thus, in simple terms, beta version is the crash test for your

startup’ offering before it is finally released.

MVP – An Example
Suppose you want to build an e-commerce website dealing with baby

products and you have certain assumptions:

o Target Audience: 25-40 years old mothers

o Best selling product: Diapers

o USP: You deliver products within 6 hours

o Most opted shipping method: 6-hour delivery

Your aim is to build a full-fledged baby products e-commerce store

which will be differentiated from others because of your 6-hour

delivery but you need to validate your assumption before going all in
5. Business Model & Revenue Model
Business Model

o A business model is a conceptual structure that supports the

viability of the business and explains who the business serves to,

what it offers, how it offers it, and how it achieves its goals.

o All the business processes and policies that a company adopts

and follows are part of the business model.

5. Business Model & Revenue Model
Revenue Model

o It is a conceptual structure that states and explains the revenue

earning strategy of the business.

o It includes the offerings of value, the revenue generation

techniques, the revenue sources, and the target consumer of the

product offered.
6. Business Plan

o A business plan is a written document that outlines the goals of

the business and a roadmap of how to achieve them. It is the

written description of your business’s future.

Elevator Pitch
7. Branding and Register the Company
Brand

o A brand is the combination of properties within and outside a

product that gives an identity to the generic product.

o It is what the customer recognise and use to differentiate when

they are offered several products that perform a similar function.

o Consider a brand as a person.

7. Branding and Register the Company
Register a Company

o For registering a company in India, an application for registration

should be submitted to the Registrar of Companies (ROC) with the

following documents:

• Memorandum of Association

• Articles of Association

• A declaration signed by a person named in the articles of the

proposed company as a director, manager, etc

7. Branding and Register the Company
Types of Company

o Sole Proprietorship.

o Partnership.

o Limited Liability Partnership.

o Private Limited Companies.

o Public Limited Companies.

o One-Person Companies.
8. Funding

To Be Continued…..
Founder Vs. Co-founder

Can You Think of Some Examples?

Let’s Discuss @ Unacademy_RonakShah

 SHAH10
10% Discount
SHAH10 for 10% Discount
SHAH10 for 10% Discount
SHAH10 for 10% Discount
SHAH10 for 10% Discount
SHAH10 for 10% Discount
 SHAH10
10% Discount
See You…Again