Andrew Hargadon

Fostering the entrepreneurial spirit

Celebrating the launch of Ruhstaller, a new brewery named after Sacramento’s first premier brewer (Captain Frank Ruhstaller, 1881) by one of our former students, J-E Paino (proprietor), along with Peter Hoey (brew-master).

What our leaders tell us about our selves

Steve Jobs died. The outpouring of sorrow and admiration is nothing short of stunning, and more than most heads of state would engender. Jobs deserves credit for so much that Apple (and Pixar) have wrought, and a tribute to his purely technological contributions would be plenty.  But there is something intensely personal—something that speaks to us more than the phones, or laptops, or iPads—that in passing shakes us to the core and asks what we want of our leaders and of ourselves.

Entrepreneurs and Society: Kauffman Foundation's "3 Things" video

The Kauffman Foundation just posted a nice sketchbook talk by CEO Carl Schramm (embedded below), summarizing the good and vital research the company has supported that looks at the role of entrepreneurs in society.  These numbers should guide both policy and personal decisions.  

Misguided Policy: Following venture capital into clean technology

The Solyndra debacle raises significant questions about how to best pursue a clean tech revolution. As I argued before, most of these questions will go ignored in the scramble for political advantage but several others are raising the same questions (E.G., Real Solyndra Scandal).  A good post by Bruce Krasting actually brings testimony from an engineer with Solyndra that makes the company look very much like any other venture-capital backed business—consuming cash as fast as possible to grow as quickly as possible to meet a rapidly closing window of opportunity. 

In particular, the Department of Energy’s recent loan guarantee program, through which Solyndra received its loan guarantees. has backstopped roughly $2 billion to venture-capital backed clean tech startups with the honorable motive of fostering a clean tech revolution. In a search for means to foster a clean tech revolution, the Obama Administration made venture capital a cornerstone of its energy policy. Yet, despite venture capital’s leading role in clean technology this past decade, we don’t really know when it works well and, as importantly, when it doesn’t. 

Last spring, my colleague Martin Kenney and I completed a research paper that looked at the boundary conditions underlying venture capital’s success and its appropriateness in pursuing a clean tech revolution: "Misguided Policy: Following Venture Capital into Clean Technology."  The paper looked directly at the funding of Solyndra, Tesla, and other new ventures. It is forthcoming in California Management Review but, given the circumstance, wanted to introduce it here.

Download Hargadon Kenney 2011 CMR Misguided Policy Following Venture Capital 110726

Steve Jobs and Thomas Edison

Last week, Bob Sutton asked me to add my two bits to the dog-pile surrounding the “Steve-Jobs-is-the-modern-Thomas-Edison” analogy. I initially balked. There were plenty of folks who’d already made this connection. Then I balked because Bob’s own brilliant post on Apple took the discussion in a much more productive direction.  Over the weekend, however, I bit. Not because of how the analogy fit, but because of how it didn’t.

Problem-finding, by Tom Kelley of IDEO

Albert Szent-Gyorgi, who won the Nobel Prize in 1937 for discovering vitamin C, once said “Discovery consists in seeing what everyone else has seen and thinking what no one else has thought.” 

When it comes to innovation, or its cousins invention and discovery, we tend to think of it as a process of discovering solutions.  In fact, it is more often a process of discovering the right problems. Tom Kelley, of IDEO, talks so eloquently here about the value of finding the right problem in talking about how IDEO's designers were able to discover a new problem in what was essentially an old and mature market, kid's toothbrushes.  

BMEA2011 Elevator Pitches

Elevator pitches are a great way to share some of the ideas that have been brewing here at the Biomedical Engineering Entrepreneurship Academy.  

One of the first and easiest ways to prototype a potential venture is the well-crafted elevator pitch.  With this in hand, anyone can get great feedback from potential customers, mentors, advisors, investors. Sure, you can communicate alot more detail with more time, but that leaves less time to listen and learn. Below are the BMEA2011 elevator pitches—all based on research being conducted in university labs around the country: 

Biomedical Engineering Entrepreneurship Academy 2011

This morning our 2011 Biomedical Engineering Entrepreneurship Academy comes to close.  45 university research scientists from across the country, full professors to first year grad students, arrived on Monday morning with their research and the desire to see it become a reality. After an intensive week of work, they're pitching their proposed businesses for the first time and to a jury of potential investors.

Garage multinationals: DripTech in the news

A good mention of DripTech, a Green Tech Entrepreneurship Academy alum from 2008, in the Wall Street Journal today (For Small Businesses, Big World Beckons). 

The Kitchen Table Test

Anyone in my position has seen somewhere in the low thousands of pitches. Everything from students to entrepreneurs to corporate intrapreneurs. I was struck by this recently, looking at someone present a chart of the size of their market and the rate at which customers would flock to this young venture’s offerings. When I questioned the numbers, he blustered on with full confidence.