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

- Show: [The Hardware Entrepreneur](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur)
- Published: 2017-07-19
- Length: 39m
- Page: https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren
- Listen: https://traffic.libsyn.com/secure/thehardwareentrepreneur/033.mp3

## Summary

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.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=0) Introduction and Book Overview
- [6:48](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=408) Modest Growth vs. Hot Fields
- [8:30](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=510) Bootstrapping Newport and New Focus
- [11:16](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=676) Critical Ingredients for Starting a Company
- [13:45](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=825) Missing Ingredients for Academic Founders
- [18:42](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=1122) Self-Actualization and Trust
- [21:11](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=1271) Good vs. Bad Business Ideas
- [22:18](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=1338) Funding Sources and IPO Realities
- [29:16](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=1756) Photonics as an Enabler and Career Advice
- [32:47](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-07-19-033-elements-of-building-a-successful-tech-business-with-proven-serial-entrepren#t=1967) Authorfast Round: Books and Routines

## Topics

- [Starting a product company](https://hardwarepodcasts.com/topic/starting-a-company)
- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Leadership, teams & culture](https://hardwarepodcasts.com/topic/leadership-and-culture)
- [Careers & education](https://hardwarepodcasts.com/topic/engineering-careers-and-education)
- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)

## Most relevant to

established companies

## Mentioned

- Incubic Venture Fund (company)
- Newport (company)
- New Focus (company)
- Toward Entrepreneurship (other)
- Caltech (other)
- JDSU (company)
- Tesla (company)
- Peter Drucker (other)
- Michael Porter (other)

## Related episodes from other shows

- [Business of Startups with Marty Zwilling of Startup Professionals](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-03-01-business-of-startups-with-marty-zwilling-of-startup-professionals) (Predictable Designs Podcast)
- [108: Hardware Design Tips from Apple & Intel Leader](https://hardwarepodcasts.com/podcast/product-startup/2022-01-05-108-hardware-design-tips-from-apple-intel-leader) (Product Startup)
- [Live From The HIBT Summit: Adam Grant](https://hardwarepodcasts.com/podcast/how-i-built-this/2021-08-19-live-from-the-hibt-summit-adam-grant) (How I Built This)
- [The Reluctant Entrepreneur: Mike Konrad's Journey Through Entrepreneurship, Networking and SMTA](https://hardwarepodcasts.com/podcast/ems-c-level/2025-03-14-the-reluctant-entrepreneur-mike-konrads-journey-through-entrepreneurship-network) (EMS@C-LEVEL)
- [S5E8 Aaron Call | How to Find Money for MedTech Startups](https://hardwarepodcasts.com/podcast/being-an-engineer/2024-02-23-s5e8-aaron-call-how-to-find-money-for-medtech-startups) (Being an Engineer)

## Citing this page

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