From Academia To Entrepreneur: Lessons From The Real World

FROM ACADEMIA TO ENTREPRENEUR FROM ACADEMIA TO ENTREPRENEUR Lessons from the Real World Eugene Khor, PhD (Virginia Tech) Chiticore Enterprises Inc. 209-1095 McKenzie Avenue Victoria, BC, Canada, V8P 2L5 [email protected] AMSTERDAM • BOSTON • HEIDELBERG • LONDON NEW YORK • OXFORD • PARIS • SAN DIEGO SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Academic Press is an imprint of Elsevier Academic Press is an imprint of Elsevier 32 Jamestown Road, London NW1 7BY, UK 225 Wyman Street, Waltham, MA 02451, USA 525 B Street, Suite 1800, San Diego, CA 92101-4495, USA Copyright © 2014 Elsevier Inc. All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher. Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone (+44) (0) 1865 843830; fax (+44) (0) 1865 853333; email: [email protected] Alternatively, visit the Science and Technology Books website at www.elsevierdirect.com/rights for further information. Notice No responsibility is assumed by the publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. Because of rapid advances in the medical sciences, in particular, independent verification of diagnoses and drug dosages should be made. British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data A catalog record for this book is available from the Library of Congress ISBN: 978-0-12-410516-4 For information on all Academic Press publications visit our website at www.store.elsevier.com Typeset by MPS Limited, Chennai, India www.adi-mps.com Printed and bound in United States of America 14 15 16 17 18   10 9 8 7 6 5 4 3 2 1 Preface ABOUT ENTREPRENEURS There are countless ways to define what entrepreneurs are. In this book, an entrepreneur is either an individual who runs a business concern or someone who takes on the risk of starting an enterprise that, when providence favors, brings the venture to success. In