Learnings from founding a Computer Vision Startup: Chapter 1 & 2: Why a startup?
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14-Sep-2014 -
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Transcript of Learnings from founding a Computer Vision Startup: Chapter 1 & 2: Why a startup?
1. Why a startup
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tup Make a dent in
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Build something that someone else thinks is important
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Be your own boss
Take control and responsibility for your living
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Get a hands-on MBA
2. The Business idea
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The original idea is an almost negligible part of a business
Ideas are cheap, execution is hard!
“I had the idea for eBay. If only I had acted on it, I’d be a billionaire!”
-ReWorkFlickr:IvanClow
so you had the idea ...... what now?
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1) Do basic homework on competition
www.crunchbase.com
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2) Find a core founders team ...
To build a prototype
With complementary skills
(more on team later)
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3) Check timing
Timing is crucial
External factors (market, competition, ...)
A lot more crucial than you would think!
http://en.wikipedia.org/wiki/Outliers_(book)
and just get started
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In the beginning
Maybe don’t quit your job right away,spend lunch, evenings, weekends with the project
Being grad student is ideal, especially if project related to your work
on copying ideas
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Should you copy ideas?
http://techcrunch.com/2007/05/14/web-2-in-germany-copy-paste-innovation-or-more/
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Flickr:lazzarello
“Copying” ideas is ok
copying products may be risky
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When copying products may workLocal restrictions to product (banking, accounting, commerce)
Local user group (language!)
Timing
Huge technological advantage
User dynamics (Twitter vs. Jaiku, “nightclubs”)
Or some other key advantage...
How we did it
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How we did it: idea for kooaba
I was a bit interested in QR codes originally (2004)
Let try some students object recognition on mobile phones (2005)
Founded company with Herbert Bay in 2006
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How we did it: idea for Polar Rose
Had some 3D face reconstruction results, wanted to see if that could do face recognition
Started company by myself, built working system
First browser plugin & search idea born (chosen among many options at the time)
Q & A
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Resources
Crunchbase www.crunchbase.com
Outliers (on timing as success factor) http://en.wikipedia.org/wiki/Outliers_(book)