#033 - Elements of building a successful tech business, with (proven) serial entrepreneur Milton Chang of Incubic Venture Fund, USA

The Hardware Entrepreneur · 19 Jul 2017 · 39m

What this episode covers

Milton Chang, managing partner of Incubic Venture Fund and serial entrepreneur behind Newport and New Focus, shares insights from his book 'Toward Entrepreneurship' on building successful tech businesses. He advocates for starting niche businesses modestly and bootstrapping to validate ideas before seeking external funding, contrasting this with the media's push for rapid growth in 'hot' fields. Chang emphasizes that founders from academia must broaden their business acumen, understand market needs deeply, and synchronize employee self-actualization with company goals to succeed.

Other shows on the same ground, closest first.

  • Predictable Designs Podcast · 53m

    Business of Startups with Marty Zwilling of Startup Professionals

    Marty Zwilling, founder of Startup Professionals and former IBM executive who worked with Bill Gates, advises hardware entrepreneurs on business planning, fundraising, and intellectual property. He emphasizes the importance of writing a one-page plan, focusing on a specific niche rather than competing with giants like Apple, and using realistic revenue projections that double annually to reach investable levels. Zwilling argues that while patents provide a sustainable competitive advantage valued by investors, entrepreneurs should validate their ideas through customer interaction and crowdfunding before spending heavily on legal protection. He also warns against seeking professional venture capital too early, recommending friends and family funding or bootstrapping until a product is ready to scale.

  • Product Startup · 28m

    108: Hardware Design Tips from Apple & Intel Leader

    Kapil Kane, Director of Innovation at Intel and former Product Design Lead at Apple, explains how startups can apply the rigorous validation processes used by tech giants to their own hardware products. He details Intel’s internal accelerator, Growth Acts, which uses a business model canvas and validation plans to test assumptions before prototyping, contrasting this with Apple’s focus on pure technical execution for products like the iPod Shuffle and MacBook Air. Kane emphasizes that successful hardware requires a triad of solid technology, user experience, and a viable business model, urging founders to be coachable and demonstrate conviction through working prototypes rather than just ideas.

  • How I Built This · 50m

    Live From The HIBT Summit: Adam Grant

    Organizational psychologist and Wharton professor Adam Grant, author of 'Think Again' and 'Originals', advises entrepreneurs to adopt a scientific mindset, treating business strategies as testable hypotheses rather than identities. He argues that recognizing errors quickly is crucial for learning, citing research where founders trained to 'think like scientists' generated 40 times more revenue by pivoting more frequently. Grant also discusses the importance of 'confident humility,' balancing self-assurance with the willingness to admit ignorance, and offers practical tools like 'challenge networks' and 'creative checkups' to avoid the pitfalls of stubborn persistence.

  • EMS@C-LEVEL · 27m

    The Reluctant Entrepreneur: Mike Konrad's Journey Through Entrepreneurship, Networking and SMTA

    Mike Konrad, author of 'The Reluctant Entrepreneur' and host of 'The Reliability Matters' podcast, discusses his 32-year journey in the electronics assembly industry, explaining how his initial product-centric ego led to founding his own company after being rejected by his employer. He contrasts his bootstrapped origins with today's venture-capital-driven startup culture, arguing that modern founders often prioritize exit strategies over product passion and emotional customer connection, citing brands like Nike and Patagonia as examples of effective marketing. Konrad also highlights the value of the Surface Mount Technology Association (SMTA) for fostering genuine, bottom-up networking and collaboration within the industry, and shares his current focus on podcasting and advisory roles.

  • Being an Engineer · 46m

    S5E8 Aaron Call | How to Find Money for MedTech Startups

    Aaron Call, founding principal of Jaunt, explains how his company helps MedTech startups navigate market intelligence and fundraising by focusing on customer discovery rather than just technical feasibility. He distinguishes between sustaining and disruptive innovation, detailing how Jaunt uses qualitative and quantitative research to validate product-market fit for Class I and II devices. Call also outlines the current venture capital landscape, noting the shift toward funding only exceptional companies, and discusses the integration of AI in healthcare administration and device development.

The summary, chapters and topics are generated from the episode’s audio by this directory, not written by The Hardware Entrepreneur. The episode itself belongs to its publisher.