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Comm 101 19 - Nov 8 - Entrepreneurship.docx

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University of British Columbia
COMM 101
Jeff Kroeker

November 8 , 2012 CLASS 19 – ENTREPRENURSHIP Guest Speaker: Janice Cheam • Started EnergyAware o ( • PowerTab tell s you how much electricity you are using and how much it costs you o Better understand usage of electricity o Tells you in real time how much you’re spending on electricity o Positively reinforces – so you can act on it o Creates energy awareness o Wasting electricity, environment o Not available in BC – smart meters, working on it o Could not sell to consumer, but with utility company • Relationship with utility; order -> manufacture – traditional o Now: Selling to customer, holding inventory, invest upfront • Predicting volume to sell – harder • Angel investor – have cash, like idea, invest, ownership equity, mentor o Have great idea, but have nothing yet o Give shares away cause company was not worth anything at the beginning o Cash is gain o Just graduated from university, has to come with value of company o Now, diluted company worth millions • In-home energy display • 3 persons team o one engineer • Come up with a prototype • If it didn’t work out, didn’t have much to give up, can find job after o Starting own company, big step • Australia, US, Finland, Canada – selling through utility • Come from policy – dealing with public sector • Website – marketing tool • Product works reliably Guest Speaker: Wade Larson • UrtheCast – the Earth video camera o Liv
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