Introduction to entrepreneurship individual report. Udacity

Introduction to Entrepreneurship: Udacity
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Introduction to Entrepreneurship: Udacity
Introduction
This report analyzes entrepreneurial ideas and opportunities of Udacity, one of the most successful online education startups that began less than 10 years ago. The analysis employs important theories regarding the topic and shows how Sebastian Thrun, the startup’s co-founder, used these concepts and opportunities to become who he is at the present. In 2011, Thrun co-founded the company with the main objective of democratizing access to education. In this paper, I will provide a brief background of the entrepreneur to discover the origin of his expertise. The paper will then focus on the sources of opportunity and the processes involve thus developing an overall view of opportunity development.
Udacity and Innovation
Thrun had an idea that any individual who signs up and completes one of the nine nanodegrees offered by Udacity, such as Android development, front-end web development, and data analyst, would be eligible for securing a decent job, because the curriculum designers of these nanodegrees include professionals working in big companies. From this very humble beginning, the company had registered more than 10,000 students from 168 countries worldwide in the program and was valued at $1 billion (Moules 2015).
Data sources
This report utilizes a number of data sources such as online databases such as EBSCOhost and inspiring talks from TED.com. EBSCOhost was resourceful in finding credible journal articles regarding entrepreneurship development and TED.com provided talks from the founder of the startup that helped to further learn about his ambitions (Thrun, n.d). Business-related websites were also an excellent source to find more information about Udacity. Many of his interests are contained in the university website Stanford.edu, where he serves as an adjunct professor.
Entrepreneurial Process
Thrun’s Background and Opportunity Identification
Udacity’s CEO and co-founder, Thrun, is a computer scientist and tech entrepreneur, who quit his job as an instructor at Sandford and has an ambition of transforming education business (Moules, 2015). He had worked with Google X, a semi-secret facility for advancing technologies such as connected glasses connected to glasses and driverless cars. He is also perceived as the most innovative thinker in the market credited for introduction artificial intelligence while still serving at Stanford. Many people around the world cannot afford tuition fees changed in expensive colleges to learn courses that will change their lives (Efrati, 2012). However, the world is getting connected more than ever before with the Internet becoming a medium of communication in everyday life. Providing education access through the Internet, and at a fraction of the tuition fee charged in universities and colleges, Thrun developed an idea of Udacity to provide affordable education through the Internet.
Entrepreneurial motivations