Evidence-based Entrepreneurship

Steve Blank @sgblank from STANFORD/BERKELEY/COLUMBIA

Evidence based entrepreneurship (we can assess a startup before they get users and revenue).

Startups are not smaller versions of big companies. You can’t forecast 5 years. What large companies do is execute a core known business.

Startups search for a business model (they don’t have one). Startups are temporary organisations designed to search for a proven and sustainable business model.

Business canvas model + customer dev + agile engineering = leans startup.

Evidenced-based curriculum at Stanford was set up with mentors. In the class you come up with a hypotheses and create an experiment and collect data. Us govt now uses lean startup to do science innovation.

Now educating 300 educators/year through Lean Launchpad every year. Teach 75 educators a quarter.

We now have high-level data on hypotheses, pivots, MVPs and metrics across teams and educators. For the first time we have real metrics we never before.

About 40 years ago NASA would aim for the moon and hit Texas. Realised they had a reliability problem, so what they come up with was the technology readiness level. It was a formal way to quantify data. What has this to do with lean?

We are now capable of coming up with a readiness level (a common language) with all the data from Launchpad central and create an investment readiness level. It’s a formal way to evaluate risk.

“God is not on the side of the big battalions, but on the side of those who shoot best.” – Voltaire

More info: http://nciia.org/LLP

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