entrepreneurship

Speaker: Mike Wright

MikeWright

Entrepreneurship in and Around Universities
Friday, January 17, 3–4:30 pm
IRMACS Theatre, ASB 10900, SFU Burnaby campus

Dr. Mike Wright is Professor of Entrepreneurship at Imperial College Business School in London. He has written over 40 books and more than 300 papers in academic and professional journals on management buy-outs, venture capital, habitual entrepreneurs, academic entrepreneurs, and related topics.

He served two terms as an editor of Entrepreneurship Theory and Practice (1994–99), was a joint editor of the Journal of Management Studies until 2009 and is editor elect of the Strategic Entrepreneurship Journal.

Mike Wright: The 10 Myths of Entrepreneurship
Video annotation by Michelle Martin

1.     12:05… Myth 1 – It’s all about the high-growth/high tech startups; in fact, there’s many different ways to be entrepreneurial.

2.     19:40… Myth 2 – Entrepreneurial context is about the legal environment; in fact, there are many dimensions of context (institutional; spatial; temporal; social; organization, ownership & governance, market context) that influence how entrepreneurial development takes place.

3.     26:20 Myth 3 – Academic entrepreneurship is hard IP for faculty; recently, students are generating many of the success stories and there’s a broadening of the definition of entrepreneurship around universities.

4.     31:00 Myth 4 – Entrepreneurs are heroic individuals; in fact, most startups involve a team with complementary skills and that team evolves with the venture.

5.     34:40 Myth 5 – Boards are there to monitor managers; in fact, directors need skills and contacts to help firms grow and survive.

6.     38:50 Myth 6 – Entrepreneurs are one shot wonders; in fact, about half of business startups are by entrepreneurs who are serial or portfolio entrepreneurs.

7.     42:30 Myth 7 – Entrepreneurs’ networks are always a good thing; in fact, being embedded in a network can inhibit expansion and new ideas, which is aggravated in a university context outside of industry networks.

8.     45:00 Myth 8 – Opportunities lie waiting to be discovered and the route to market is clear; in fact, opportunities and markets are often created, and this poses information challenges and uncertain environments.

9.     52:30 Myth 9 – Opportunities only have value in the product market; in fact, technology can be licensed and patents, such as in science, can be sold for commercialization elsewhere.

10. 1:00 Myth 10 – The finance gap is at the start; in fact, there are many funding rounds before viability, especially if they are generated from a university and are far from the market.