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Emerging Technologies Seminar
Fall Term 2006-07
(All EMTM students, alumni and invited guests are welcome to attend ETS lectures. For prospective students interested
in a selected topic or session, please inquire with the Admissions Office: 215-898-2897 or
emtm-admissions@emtm.upenn.edu.)
Friday, September 15, 2006
> Discovery Driven Planning (DDP) or Market Busting
(Ian MacMillan, Wharton)
Friday, September 29, 2006
> Generating Venture Ideas
(David Hsu, Wharton)
Saturday, October 14, 2006
> Legal Aspects of Starting and Growing a Technology Business
(Stephen Goodman, Morgan, Lewis & Bockius LLP)
Friday, October 27, 2006
> Raising Money
(Executive Panel Discussion)
Friday, September 15, 2006
Discovery Driven Planning (DDP) or Market Busting
Ian MacMillan
Professor of Management
The Wharton School
When planning an uncertain project, because so much of the plan must be based on assumptions that probably won't work out, it is futile, if not plain dangerous, to try to execute the plan exactly as originally envisaged.
This lecture will provide attendees with a review of a methodology:
- To frame uncertain projects in terms of a desired payoff adequate to the uncertainty involved
- To document the assumptions that underlie the plan
- To simulate the plan and conduct a sensitivity analysis that highlights the critical uncertainties in the plan
- To specify the operational challenges that will need to be addressed as the plan is executed
- To identify key CheckPoints at which assumptions can be tested
- To develop a "plan to learn," meaning a plan to convert assumptions into knowledge ahead of investment
- To redirect the plan and "re-decide" investment patterns based on the reality that emerges as the project team systematically converts assumptions to knowledge at major checkpoints.
Ian C. MacMillan is the Executive Director of the Sol C. Snider Entrepreneurial Center and Dhirubhai Ambani Professor
of Entrepreneurial Management. He is co-author, with Rita McGrath, of the best-selling The Entrepreneurial Mindset
(Harvard University Press, 2000), which focuses on how managers and entrepreneurs can create a continuous stream of growth opportunities for their firms. Mac joined the Center in June of 1986, after having served as Director of the Center for Entrepreneurial Studies at NYU. He also taught at Columbia University and Northwestern University. He received a chemical engineering degree from the University of Witwatersrand, and his master's and doctorate in business from the University of South Africa.
Prior to joining the academic world, Mac was a chemical engineer, and gained experience in gold and uranium mines, chemical and explosives factories, oil refineries, soap and food manufacturers, and the South African Atomic Energy Board. He has been a director of several companies in the travel, import/export and pharmaceutical businesses in the USA, South Africa, Canada, Hong Kong, and Japan. He also has extensive consulting experience, having worked with such companies as Microsoft, Air Products, DuPont, Seagate, General Electric, GTE, IBM, Citibank, Chubb & Son, American Re-Insurance, Matsushita (Japan), Olympus (Japan), L.G.Chem (Korea), Texas Instruments, KPMG, Fluor Daniel, and Commercial Union General Insurance (UK).
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Friday, September 29, 2006
Generating Venture Ideas
David Hsu
Assistant Professor of Management
The Wharton School
This session is offered as an introduction to entrepreneurship. One of the most significant challenges to new venture
development is coming up with venture ideas. The session addresses this issue, as well as related vital topics such as:
- Why embark on an entrepreneurial career?
- Where do venture ideas come from?
- How important is the idea for venture success?
- What can you do to jump-start venture idea generation?
A substantial in-class exercise in team venture idea generation allows participants to practice the concepts.
David Hsu is the Edward and Shirley Shils Term Assistant Professor of Management at the Wharton School, University of
Pennsylvania. His research interests include start-up innovation, commercializing technology, and venture capital. His
research has appeared in the RAND Journal of Economics, Journal of Finance, and Management Science.
He is an associate editor of Management Science. At Wharton, he teaches two MBA electives, Entrepreneurship and
Technology Strategy. His PhD is from the Massachusetts Institute of Technology, and his prior degrees are from Stanford
and Harvard Universities.
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Saturday, October 14, 2006
Legal Aspects of Starting and Growing a Technology Business
Stephen Goodman
Morgan, Lewis & Bockius LLP
Topics to be covered:
- Role of Lawyer in Representing Start-Ups
- Exiting current employment arrangement — noncompete issues, assignment of inventions, etc.
- Introduction to Intellectual Property issues/"freedom to operate"
- Protecting your Intellectual Property — patents/trademark/copyrights; Real Estate Issues
- Entity Formation — Corporate law and tax issues
- Hiring Employees — Introduction to employee benefits
- Preparing a business plan — Structuring Fundings
- Platform Building — Outsourcing vs. Hiring
- Hiccups — "Down rounds" and layoffs
- Exit Strategies — Initial Public Offerings/M&A transactions
Stephen M. Goodman is a Partner in the Business Transactions Practice of Morgan, Lewis & Bockius LLP. Mr. Goodman is Co-Chairman of the firm's Global Technology Practice. His practice focuses on representing emerging growth companies in the technology and life sciences sectors. He has nurtured startup companies such as CDnow, VerticalNet, ICG Commerce, AirClic, and AANet.com. Using the firm's vast resources, he coordinates all aspects of the representation of such companies and concentrates his practice on legal aspects of corporate finance and acquisitions. Before joining the firm, Mr. Goodman was a senior partner at Wolf Block, Schorr & Solis-Cohen. While there, he served as chairman of the Corporate Law Department, chairman of the Hiring Committee, as a member of the Executive Committee and as chairman of the Venture Development Group.
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Friday, October 27, 2006
Raising Money
Executive Panel Discussion
Moderated by Jeffery Babin of the University of Pennsylvania and Managing Director of Antiphony, this panel will
discuss various ways of raising money — from VC, bootstrapping, corporate alliances and spin offs, to other
strategies. The scope of the panel is broad and includes ways to fund new startups, as well as funding internal
projects in companies. We have assembled a distinguished list of panelists from industry and academe, each of
whom brings extensive experience in various aspects of this issue. The panelists will share their insights on
raising money and on how they evaluate projects for potential funding, with ample opportunity for Q&A discussion.
Panelists include:
Phillip Chan
Partner
NJT Venture Fund — Networked Capital
Andrew Metric
Professor of Finance, The Wharton School
Author of the 2006 book, Venture Capital & the Finance of Innovation
Chris Starr
Vice President, Science Center
Executive Director & Founder, Mid-Atlantic Angel Group Fund
Todd Wallach, EMTM'00
CFO, Aton Pharmaceuticals
Mike Zisman
Managing Director, Internet Capital Group
Former Vice President, Corporate Strategy of IBM (and prior CEO of Lotus)
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