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PROFESSOR: So there are three
ways that we think about

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in starting a company.

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There are three
types of people that

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will walk into this center,
the Martin Trust Center for MIT

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Entrepreneurship.

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The first person that walks
in says I have a technology.

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This could be someone from
the labs or someone who

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have just seen a technology, and
they say I have a technology.

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I want to start a company
based off this technology.

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So they're starting
with the technology,

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and they've got a hammer, and
now they're looking for a nail.

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So it's a solution
looking for a problem.

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It's a solution actually
looking for a market.

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So this is what we
call technology push.

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It can be a hard thing, but
it can be very rewarding,

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because we already have a
competitive advantage in here.

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The second type of
person that comes in here

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says I have an idea.

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I used to work in an industry,
and they had this big problem,

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and this problem
needs to be solved.

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And I believe that there
is a solution out there.

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I don't know what
exactly that solution is.

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But they have an idea, because
they understand the market,

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and they understand that market
has a problem that, if solved,

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would be very rewarding.

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This is what we
call market pull.

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So this, you already
have a known market,

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so the risk is lower.

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But the issue here is
you don't necessarily

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have that inherent
competitive advantage

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that you have over here.

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Now, you'll say,
what else is there?

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Well, the third type of person
that comes in here all the time

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is someone who has a passion
to be an entrepreneur.

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I want to control
my own destiny.

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I've seen what can happen.

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I want to have an
impact on the world

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and really make a difference.

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I want to test my
talents to the maximum.

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And these are people that have
a passion to be an entrepreneur.

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And that is a wonderful
thing to have that passion.

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However, it's not enough
to start a company.

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You can't just want
to start a company

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and that starts a company.

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You have to then
migrate from a passion

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to either a
technology or an idea.

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And usually, that
happens because someone

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says I want to be
an entrepreneur,

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then they have to join
up with somebody else.

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And joining a team
and creating a team,

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as we've talked
about before, is very

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important to success and
entrepreneurship of someone

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who already has a
technology or someone who

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already has an idea.

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So really, while
there's three types,

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the people and
passion really have

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to join up and end up in
either technology or an idea.