Published on December 19, 2013
Building Startup At Kyoto University, 19 December 2013 Kenshin Fujiwara
About Me • Cal-State University graduate. • Co-founder & CTO at many startups. • Few exits & lots of failures. • Venture Partner at Miyako Capital • Trying to turn Kyoto into a world class startup incubator.
My ﬁrst job.
Before talking about ‘grown-up’ staﬀ...
Let’s Talk About Diﬀerence Between Universities in US and Japan
Don Valentine, Sequoia Capital: "Target Big Markets” http://www.youtube.com/watch?v=nKN-abRJMEw
Some People Started Their Business While in University And Become World Class
How AAA Students Behave Diﬀerently (Not Always True, But Mostly True in West) US Japan Drop out, startup, create AAA Students world class companies. Get job at wellknown companies. AA Students Get job at well-known companies. Some eventually startup. Get job at ordinary companies. A Students Get job at ordinary companies. Some eventually startup. Still get job at ordinary companies.
Resulting in Diﬀerence in Startup Rate United States: 12% Japan: 5% Total Early-Stage Entrepreneurial Activity (TEA) in 54 Economies, by Phase of Economic Development, 2011 http://www.gemconsortium.org/docs/download/2409
My Case Startup 5 years 3 years Currently
Then, there is a famous advice for students & entrepreneurs.
“Go to Silicon Valley.”
My advice is….
No, you don’t have to.
People will ﬁnd you no matter where you are if you are doing well.
Examples Singapore Australia Australia Finland Finland (Acquired by Rakuten for $200M) (Soon to IPO) Denmark (Acquired by SoftBank for $1.5B)
In other words, you will fail no matter where you are if you are not doing well.
So what is a Startup?
Startup is not a smaller version of a large company. Steve Blank: A Startup is Not a Smaller Version of a Large Company http://steveblank.com/2010/01/14/a-startup-is-not-a-smaller-version-of-a-large-company/
I wish I knew this before my ﬁrst startup so let me explain a bit.
What We Now Know Startup Large Company • Search • Execute • No Customer • Existing Customer • New or Existing Market • Existing Market • No Business Model • Existing Business Model
Therefore, Lean Startup was born.
In Silicon Valley, no one tells you what Lean Startup is because…
People assume not only you know about it but also you already exercised it.
A word about Lean Canvas.
If You Want To Study By Yourself
Lean Canvas is not just for web/mobile startups.
Web/Mobile & Physical Channels
As a student how do I exercise Lean Startup and Lean Canvas without being drop-out?
My story of winning a grand prize at Startup Weekend Kyoto in 2011.
Moment of Victory
What We Tested • Is there really a paying customer? • What is total addressable market (TAM)? • What is a minimal team to sustain ourselves? • Is there any chance investor would be interested? • And most importantly, are we solving a problem that people care about?
Got Green Light, Moving On • Launched web version of app. • Attended a couple of more pitch events. (Demo Asia in Singapore, SF NewTech in San Francisco, etc.) • Registered a company in Delaware, United States. • Adjust direction a bit. (a.k.a. pivot)
What We Are Now
As you can see, you may create a company by joining Startup Weekend.
Actual Startups Born Out of Startup Weekend • Startup Weekend Los Angeles. • Raised $1M right after the event. • Raised $15M in total. • Women 2.0 Startup Weekend. • Raised $3.75M in total. • Acquired by OpenTable for $10M. • Four of teammates joined the company full-time in the following week.
Act now, or you’ll never change.
Places Where Reach Out to Me http://kenshinfujiwara.com https://www.facebook.com/kenshin.fujiwara https://twitter.com/ensnk