Spoken excerpt (and LinkedIn post content) about systematic ways to generate startup ideas. The speaker (quoting Jeff Boscan) identifies three primary origins for startup ideas: founders' personal experience, technology breakthroughs, and domain expertise, gives brief founder examples (SKRI, 660, Shippo), then introduces an alternative, research-driven innovation taught to Harvard Business School students for those who lack an obvious origin.
How will AI impact Startup Ideation? I never view myself to be particularly good at coming up with startup ideas. Maybe that's why I become a vc. In the case of two startups I work for, someone else had an idea and I focus my time and energy on turning the idea into a business. Maybe that's why I'm fascinated with whether there can be a systematic way to generate great startup ideas. In some ways, great startup ideas can seem like they come out of nowhere. After studying the startup ideation process for the last few decades, I've concluded that in reality they emerge from three primary first personal experience Many successful startups born from the founders own experiences and when you encounter a problem firsthand, you gain a deep understanding of the pain points and can envision a solution that others may not see. For example, SKRI was founded after its founder experienced the hustle of booking and paying for barbershop services. Technology breakthrough Other successful startups created out of novel technology or innovation. When a new technology wave emerges, founders warm around it to explore and discover new pain points and value propositions. For example, the founder of 660 was inspired by advance in synthetic biology to create more sustainable labor paint oil Domain Expertise Many successful startups created by a domain expert who has obtained some earnings secret about market need or gap. By leveraging their inside knowledge and nuances and understanding of the market, they can craft a product that uniquely explored its need. For example, founder of Shippo were former E Commerce entrepreneurs who are frustrated with the hassle and complexity of shipping products to their customers, inspiring the creation of a cloud based shipping software platform. But what if you aren't inspired by one of these three paths? What if you can't come with a brilliant idea? For many of my entrepreneurial Harvard Business School students this is essential question. For the last few years I've been teaching them one systematic method Research Driven innovation. So this part is part of the LinkedIn post from Jeff Boscan. Jeff Boscan's bullet where do startup idea come from?
