In this podcast episode Marc Gruber, vice president innovation at EPFL, talks about his new book "where to play" - How to pick the right arena/domain early on to make pivoting less costly and increase the chances of success.
We are happy to sponsor a podcast series of Voice of FinTech produced by Rudolf Falat. 👇
This message was kindly narrated by Gabriella Trujillo from HITS. Gabriella will be our new "Voice of HITS." She will complement the HITS team with her awesome video making skills & her broad know how in the area of communication.
In this Voice of FinTech podcast, we talk to Marc Gruber, Vice President Innovation at Ecole polytechnique fédérale de Lausanne and Professor of Entrepreneurship, about innovation, entrepreneurship, implications for FinTech, InsurTech and incumbents.
In their book Where to play, Marc Gruber, together with Sharon Tal, Professor of Entrepreneurship at Technion - Israel Institute of Technology, address the issue of the need of start-ups to get to the target market first vs. the reality that more than 70% of them end up pivoting anyway. How to pick the right arena/domain early on to make pivoting less costly and increase the chances of success? How does entrepreneurship differ in Europe vs. the US or Asia?
👉This episode of the #InsurTech Series was brought to you by HITS - House of InsurTech Switzerland. HITS is the innovation corp-up hub focusing on the InsurTech sector, bringing corporates and startups to develop customer-centric solutions. 🤝🏻The intro message was kindly narrated by Sara Palmbush, PR and content specialist and the outro message by Gabriela Trujillo from HITS.
We can make pivoting less painful. - Marc Gruber
The following questions are answered by Marc in the podcast:
1. Marc, can you introduce yourself? How did you get interested in business management?
2. You are the Vice President Innovation at EPFL and Prof. for Entrepreneurship & Technology Commercialization – what’s your mandate/mission at EPFL?
3. You co-authored a book called Where to play, which focuses on the issue of the need to focus on a single market and getting there fast vs. the reality of most start-ups pivoting anyway. Can you share the key points of what’s the book about?
4. Is it a book for beginner entrepreneurs, academics, or for a wider audience?
5. How can entrepreneurs get fast to the market, yet more than 70% of the start-ups from your research end up pivoting to someone else than they originally had in mind?
6. I understand that your approach to this problem is called the Market Opportunity Navigator. Can you explain how the Market Opportunity Navigator complements or challenges the tools like “Business Model Canvas” and the “Lean Startup Methodology”?
7. Can you paint a picture, how does one use your navigator?
8. Can you share any success stories of the start-ups that implemented your tool?
9. Many entrepreneurs or investors claim you can’t learn entrepreneurship in a school – what’s your view on that?
10. How does the entrepreneur culture differ in Switzerland/Europe vs. the US or Asia?
11. What are the next steps for you this year and beyond?
12. Where can interested parties reach you and find out more about "Where to play"?
With the market opportunity navigator you have an agile focus, you are focusing on your main domain, however having plan B's and future growth options in your head. - Marc Gruber