2 MR AN 101 Opportunity Identification

ENT 101 Introduction to Innovation & Entrepreneurship
Opportunity Identification
9th & 16th Aug 2023
©DSSE
Desai-Sethi School of Entrepreneurship
ENT 101 : Course Team
Faculty
Course Coordinators
Deepa Namagiri Alka Chavan

Prof Anu Narasimhan Prof Ramesh Prof Kums Kumaresan
Mangaleswaran
TA’S
Kritish Sharma
Sanya Arora Nishkarsh Bansal Shubh Verma Pragyesh Gupta Harshil Khatri
PhD, SOM
4th Year, Chem 4th Year, Aero 4th Year, Eco 4th Year, Mech 3rd Year, Mech
©DSSE
Process for Start up Creation
Temporary organization that is Scalable, Repeatable, Profitable
What it is not : Small Biz, Self-employment, Dhandho, Invention, Partnership, Corporation
Source : Lean Startup
©DSSE
Course Modules
Week # Topic Faculty
1&2 INV.ENT & Opportunity Identification Prof Anu
3&4 Customer Value Proposition & BMC Profs Anu & Ramesh
5 Intro to Design
6 Design Principles Prof Kums
9 Design Brief, Concept , Idea
10 & 11 New Product Development Profs Anu & Kums
12 & 13 Communication / Mktg / Go To Market Prof Anu
14 & 15 Basics of Finance & Business Planning Prof Ramesh
16 Team Presentations
©DSSE
What is Entrepreneurship
‘The Pursuit of Opportunity without regard to Resources controlled’

Howard Stevenson, Harvard Business School
• Identify a need or opportunity : Problem

• Create a solution : Innovation
• Implement solution to create Value
• Harvest, Exit , or any long-term strategy
An Entrepreneur is someone who gets something NEW done
©DSSE
Essence of Entrepreneurship
Enterprising
Valuable Opportunities
Individuals
A situation in which a person • Mindset

can exploit a new business idea • Creative & Innovative
that has the potential to • Opportunity Focused
generate profit • Passionate
• Persistent
Creating Wealth & Gaining Independence
©DSSE
What’s an Opportunity?
A product or service around which you can build a

profitable company and net a positive return to
investors.
©DSSE
What’s an Assessment?
A quick way for you to evaluate whether your

opportunity is worth spending years of time and
money on.
©DSSE
What is the need you are trying to satisfy?
Clearly define the need you are trying to satisfy,

who the customer is and what drives the need.
Figure out how they are solving the problem today

and how big a pain point it is.
©DSSE
Characteristics of Opportunities
• Newness
• That hasn’t existed before or been available before
• Perceived Desirability
• Potential Economic Value
• Whose development is consistent with legal / ethical / regulatory

standards
©DSSE
Finding & Recognising Opportunities
• Finding Opportunities
• Technology Shifts
• Societal Changes
• Market Changes
• Recognizing Opportunities
• Previous experience enables people to see
• Fresh eyes shows up link between unconnected things
• Changes, Events, Triggers
• Generating Ideas
• Brainstorming
• All ideas are welcome , there are no ‘dumb’ ideas
• Each idea gets deeply explored, tossed or morphed
• Analyze strengths, weaknesses, opportunities, competitive threats
©DSSE
Opportunity Identification Framework
©DSSE
Are Ideas = Opportunities
An Idea is only an Opportunity when
• Adds value to customers

• Solves a problem
• Has the potential to make some money
• Is a good fit with the entrepreneurship team
©DSSE
Creativity - Innovation – Entrepreneurship continuum
Science & Technology Trends
Creativity Innovation Entrepreneurship
Discovery of Evaluating Exploitation of

Opportunities Opportunities opportunity
Generation of new, Refining ideas and Value-creation in

novel ideas Iterating the marketplace
Output : New
Output : New Ideas Output : Prototype product / service /
solution / process
Societal, Economic, Marketplace Needs
©DSSE
Opportunity Identification & Innovation : Tutorial
Identify a business that addresses each of the below
1) Burning need
2) Unmet need
3) Not so burning a need
©DSSE
Essence of Entrepreneurship
Enterprising
Valuable Opportunities
Individuals
A situation in which a person • Mindset

can exploit a new business idea • Creative & Innovative
that has the potential to • Opportunity Focused
generate profit • Passionate
• Persistent
Creating Wealth & Gaining Independence
©DSSE
Videos to watch
Sharktank : Solinas
https://www.youtube.com/watch?v=tKWvRT8J0oA
Sharktank Global : Edible Cutlery

https://youtu.be/EU96s14zgLk
Sharktank : Lenskart
https://youtu.be/33e994G6H4I
©DSSE

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ENT 101 Introduction to Innovation & Entrepreneurship

Deepa Namagiri Alka Chavan

Source : Lean Startup

‘The Pursuit of Opportunity without regard to Resources controlled’

• Identify a need or opportunity : Problem

An Entrepreneur is someone who gets something NEW done

A situation in which a person • Mindset

Creating Wealth & Gaining Independence

A product or service around which you can build a

A quick way for you to evaluate whether your

Clearly define the need you are trying to satisfy,

Figure out how they are solving the problem today

• Potential Economic Value

• Whose development is consistent with legal / ethical / regulatory

An Idea is only an Opportunity when

• Adds value to customers

Creativity Innovation Entrepreneurship

Discovery of Evaluating Exploitation of

Generation of new, Refining ideas and Value-creation in

Societal, Economic, Marketplace Needs

Identify a business that addresses each of the below

A situation in which a person • Mindset

Creating Wealth & Gaining Independence

Sharktank Global : Edible Cutlery

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