Different Types of Entrepreneurship

` Business Development and Entrepreneurship Basics Presented by: Tony Redpath Vice President, Partner Programs MaRS Discovery District 8 October 2008 Slide 2 MaRS Four basic questions:  What does my business look like ?  What resources do I need?  How do I fit into the rest of the world?  What is my business model? Slide 3 MaRS Technology Commercialization KNOWLEDGE Universities / Hospitals Government Labs PATENTS (Novel, Useful, Non-Obvious) Company II Concept R & D Project Engineering Project Production Lab Prototype Engineering Prototype Sales Marketplace R & D Project ConceptEngineering Project Production Sales Lab Prototype Engineering Prototype Company I Slide 4 MaRS Business types - Consulting  You provide advice, based on your specialized knowledge Slide 5 MaRS Technology Commercialization KNOWLEDGE Universities / Hospitals Government Labs PATENTS (Novel, Useful, Non-Obvious) Company II Concept R & D Project Engineering Project Production Lab Prototype Engineering Prototype Sales Marketplace R & D Project ConceptEngineering Project Production Sales Lab Prototype Engineering Prototype Company I Slide 6 MaRS Consulting …. Cont’d  Can start as a one-person business  May have a technical, management, or marketing focus  Often stay small, but consulting engineering firms can be large (e.g Hatch Associates)  Often operate via a virtual network of consultants  Need liability insurance  Capital costs low Slide 7 MaRS Business types - Consulting  Q: How much should I charge? * A: What is the client’s alternative cost? Slide 8 MaRS Business types: Service  You provide a service to existing businesses Slide 9 MaRS Technology Commercialization KNOWLEDGE Universities / Hospitals Government Labs PATENTS (Novel, Useful, Non-Obvious) Company II Concept R & D Project Engineering Project Production Lab Prototype Engineering Prototype Sales Marketplace R & D Project ConceptEngineering Project Production Sales Lab Prototype Engineering Prototype Company I Slide 10 MaRS