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We just held our fifth session of our new national security class Technology, Innovation and Modern War. Joe Felter , Raj Shah and I designed a class to examine the new military systems, operational concepts and doctrines that will emerge from 21st century technologies – Space, Cyber, AI & Machine Learning and Autonomy.
What we found is that during the class almost all of them pivoted - making substantive changes to one or more of their businessmodel canvas components. In the real world a big pivot in life sciences far down the road of development is a very bad sign due to huge sunk costs. Some of these teams made even more radical changes.
Over the last two and a half years the National Science Foundation I-Corps has taught over 300 teams of scientists how to commercialize their technology and how to fail less, increasing their odds for commercial success. It’s open to NIH SBIR/STTR Phase 1 grantees. Application are due by August 7th (details are here.).
A critical stage for most first-time entrepreneurs is getting their idea developed into at least a prototype to validate their technology. This process costs money, which professional investors are not willing to contribute, since their interest is in scaling a proven product and businessmodel into a growth business.
But as impressive as its technology is, the Apple’s smartwatch has been a product looking for a solution. Large tech companies like Google, Amazon, Apple recognize that the multi- trillion dollar health care market is ripe for disruption and have poured billions of dollars into the space. Healthcare on Your Wrist.
This class is built on conducting in-person of interviews with customers/ beneficiaries and stakeholders, but due to the pandemic, teams now had to do all their customer discovery via a computer screen. Several will join the new Stanford Gordian Knot Center which is focused on the intersection of policy, operational concepts, and technology.
And the trick is we use the same Lean LaunchPad / I-Corps curriculum — and kept the same class structure – experiential, hands-on, driven this time by a mission -model not a businessmodel. Steve Weinstein 30-year veteran of Silicon Valley technology companies and Hollywood media companies. Student Feedback.
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