ENTREPRENEURSHIP FOR ENGINEERS AND SCIENTISTS
CHAPTER 4
BUILDING AN EFFECTIVE TEAM
LEARNING OBJECTIVES
After studying this chapter, students should be able to
1. Describe an effective founding team.
2. Understand the challenges of technology founding teams.
CHAPTER OVERVIEW
CHAPTER OUTLINE
1. Forming an effective founding team.
2. Extending the founding team
a. Professional advisors
3. The move from start-up to rapid growth
4. Summary
Entrepreneurship for Scientists and Engineers
END OF CHAPTER QUESTIONS
1. Why is it advantageous for a technology start-up to be launched with a founding team over
a solo entrepreneur?
When the team possesses expertise in the major functional processes of the business—
2. What are some of the challenges of technology teams?
In general, they are made up of linear thinkers who have difficulty with right-brain skills such
3. What would an ideal founding team look like?
An effective team would share a common vision and passion for creating the business; they
4. What is the role and importance of social networking for entrepreneurs?
Entrepreneurs need to tap into a number of resources to find the talent and capabilities
5. Why is the original founding entrepreneur not always the right person to grow the company
to the next level?
Growth brings on a level of complexity that the entrepreneur has not been accustomed to.
Entrepreneurship for Scientists and Engineers
CASE STUDY SUGGESTIONS
The case study on Collateral Therapeutics illustrates some issues that can form the basis for
class discussion:
• Teams come about for a variety of reasons. In this case, the inability to secure a
licensing agreement with industry meant that Hammond and Reinhard would have to
launch a company to commercialize their gene therapy technique for angina. This
would require capital so they needed a venture capital partner. University researchers
are typically able to serve as chief scientists in their own companies and retain their
positions at their university. Were there other choices that Hammond and Reinhard
might have considered?
ACTIVITY
Analyze a team
Ask students to pick three technology businesses and study the founding teams—their
characteristics, expertise, experience, and role in the company—and the extended team, if