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Transcript of 13 0911 session 1 & 2 webinars-all slides
Cleantech Open2013 Webinar Series
Wednesday, September 11, 2013
2 Cleantech Open Confidential Information – All Rights Reserved
Welcome to the National Webinar Series
• With the Cleantech Open since 2007• Mentor Chair 2007 - 2008• Executive Director 2008 - present
MC: Rex Northen,Executive Director, Cleantech Open
3 Cleantech Open Confidential Information – All Rights Reserved
Global Partner
4 Cleantech Open Confidential Information – All Rights Reserved
National Sponsors
5 Cleantech Open Confidential Information – All Rights Reserved
Thank You To All Our Sponsors!
6 Cleantech Open Confidential Information – All Rights Reserved
The Summer Program – July – September 2013
Date Time (PDT)
Session I – Worksheets Time (PDT)
Special Topic Sessions
7/9 1:30 to2:30pm Business Model Canvas (Review) 2:45 to
4:00pm LaunchPad Central (Review)
7/16 1:30 to2:30pm Product/Market Fit 2:45 to
4:00pm Systems Review, PR 101
7/23 1:30 to2:30pm Markets and Getting to Them 2:45 to
4:00pm Term Sheets
7/30 1:30 to2:30pm Product/Technology Validation 2:45 to
4:00pmAlternative Sources of Funding - Grant Writing / Crowd Sourcing
8/6 1:30 to2:30pm Financials Analysis & Planning 2:45 to
4:00pm Review of Worksheets to date
8/13 1:30 to2:30pm Legal Environment, Issues and Risks 2:45 to
4:00pm Cap Tables
8/20 1:30 to2:30pm Management Team 2:45 to
4:00pm Working with the Utilities
8/27 1:30 to2:30pm Sustainability 2:45 to
4:00pmTell Your Story, Sell Your Story (Communicating value to stake holders)
9/10 1:30 to 2:30pm Last Chance For Questions 2:45 to
4:00pm
9/11 1:30 to2:30pm
Investor PresentationMentor Assessment
2:45 to4:00pm
Special Presentation from PARC Review of Mock Judging, Regional Awards, Global Forum
7 Cleantech Open Confidential Information – All Rights Reserved
Webinar Agenda
• Session 1: 1:30pm – 2:30pm – The Perfect Pitch
• Presenter: Linda Plano, Principal, Plano & Simple• Session2: 2:45pm – 4:00pm
– 2:45pm – 3:00pm: Working with PARC• Presenter: Sean Garner, Manager, Energy Systems Group, Hardware
Systems Laboratory, PARC– 3:00pm – 3:15pm: Rate Your Mentor
• Presenter: Paul deGive, National Curriculum Chair, Cleantech Open– 3:15pm – 4:00pm: Overview of the Next Three Months
• Presenter: Rex Northen, Executive Director, Cleantech Open
8 Cleantech Open Confidential Information – All Rights Reserved
Session 1: The Perfect Pitch
1:30pm – 2:30pm, PDT
Speaker: Linda PlanoPrincipal, Plano & Simple
Linda S Plano, PhDPrincipal, Plano & Simple
Per fec t P i t ch
About Me
• PhD Stanford, BS MIT
• Career entrepreneur
• Experienced manager
• Dedicated coach & “yenta”
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 10
Agenda for today
• Introduction to “Perfect Pitch” approach
• One of the 11 CTO slides at a time
• Review guidelines for that CTO slide
• Present fear & greed for corresponding P&S question
• Provide real-world examples of do’s and don’ts
• Repeat for all 11 CTO slides
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 11
Perfect Pitch Philosophy:Why Pitch?
• Get the Next Meeting
• Get the Next Meeting
• GET THE NEXT MEETING!
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 12
Perfect Pitch Philosophy:Know Your Audience
• Pitch, Don’t Teach
• Make Them Want More
• Tune for “Perfect Pitch”
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 13
Talk about what the audience wants to hear, NOT what you want to talk about
10 Simple Questions Every Pitch Should Answer
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 14
Question Business Issue CTO Slide Deck
0. Who is your audience? Elevator Pitch Title SlideOverview
1. Why should I care? Customer, market size, market pain
The ProblemMarket Size/ Growth
2. What do you do? Secret sauce The Solution
3. Why are you better? Competitive advantage Competition
4. How will you stay better? IP status & strategy Competition
5. Is it real or is it vaporware? Tech status & strategy Technology
6. How will you make money? Business model ProductBusiness Model
7. How much will you make? Financials Financials
8. Why you? Team Team
9. What will you do? Development plan Financials
10 How much will it cost? The Ask Financials
Each slide needs to1. Increase Greed &/or
2. Reduce Fear
Agenda for today
• Introduction to “Perfect Pitch” approach
• One of the 11 CTO slides at a time
• Review guidelines for that CTO slide
• Present fear & greed for corresponding P&S question
• Provide real-world examples of do’s and don’ts
• Repeat for all 11 CTO slides
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 15
TITLE SLIDECleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 16
Title Slide: First impressions count!
• CTO Guidelines– Name of your firm/ contact info– Appropriate graphics (logo, etc.)– Date– Name of investor firm– Optional: How much money is being sought for this round?
• Plano & Simple Guidelines– Your name and title– Clean & simple– Post-CTO: contact info & other clutter belongs on print copy– Take “Confidential” out of the footer – if you’re pitching, it’s public
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 17
TransformOne
TransformOne provides an on-demand, cloud based clinical trial software that streamlines data capture, analytics and
submission for pharmaceutical companies.
TransformOne Confidential
Your Cloud,Your Trial,
Go-Live in a Short While!
Alex Yu LiuF O U N D E R & C E O
B ett e r t r ia l data at lower cost
Alex Yu LiuF O U N D E R & C E O
Presented to the Cleantech Open on September 11, 2013
Seeking seed round of $250K
OVERVIEW SLIDECleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 21
Overview: Your elevator pitch
• CTO Guidelines– This is the elevator pitch– Define the business and the company’s raison d’être– 2 – 5 high level, sparsely stated bullets– Develop a visual “model” that will be built upon in the “problem” and
“solution” slides
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 22
If you don’t get their attention here, you won’t get their check later!
It’s a pitch, not a history lesson!
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 23
Highlight the value proposition
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 24
THE PROBLEMCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 25
The Problem: Know your customer
• CTO Guidelines– Identifiable problem(s) to be solved– What’s the pain that will ensure the customer will write a check?
(revenues, costs, time, productivity, market reach)– Make sure its a “must have” not “nice-to-have”– Develop a visual “model” that depicts the problem– Consider depicting an historical evolution– Make the current situation look like it really hurts– Include meaningful validating quotes– Customers are best– Analysts when applicable– Problem must suggest a large market
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 26
The Problem: Know your customer
Content• Identifiable problem(s) to be
solved
• What’s the pain that ensures the customer will write a check?
• Make sure its a “must have” not “nice-to-have”
• Customers are best
• Problem must suggest a large market
Style• Develop a visual “model” that
depicts the problem
• Consider depicting an historical evolution
• Make the current situation look like it really hurts
• Analysts when applicable
• Include meaningful validating quotes
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 27
MARKET SIZE/ GROWTHCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 28
Market Size/ Growth: The opportunity
• Clearly define the market
• Target vertical, buyer/user, application
• Market size/growth
• TAM/SAM/SOM/CAGR
• Historical trends projected over five years
• Methodology: quantitative rigor + qualitative sensitivity
• Balance: exciting opportunity vs. chance of success
• Correlate market slide with upcoming competition, business model and financial slides
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 29
Q1. “Why should I care?”
• Market Size & Market Pain– Fear: No one will pay anything for this technology!– Greed: Everyone will want to buy this over and over again!
• Do– Define your customer – be specific!– Develop market from bottom up
• Don’t– Rely on expensive market studies– Need “only” a small share of a big market
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 30
Potential Commercial Markets
Hydrogen Market $844 million (2004)1
625 billion cubic feet (2004)
Steady 9.5% per year Growth between 1997 and 20022
Estimated growth 10% per year through 2006
Most growth is for high purity hydrogen1. (Source: U.S. Census Bureau, Current Industrial Reports)
2. (Source: The Innovation Group, Chemical Profiles, Hydrogen)
Courtesy Dr. S. Gopalan, Boston University
The Conference on Clean EnergyNovember 7, 2005
Hy9’s Total Market Opportunities
(1) HyMaker™ industrial hydrogen generators $x.x Billion Global Market (2005) – future systems from other fuels, optional hydrogen recycle, and
CO2 separation– fuel cell demonstrations
(2) OEM components: purifiers & membrane reactors$y - $z Million Global Market (2005)– purifiers for small-scale electrolysis H2 generators– replacement modules for existing/new H2 purifier systems
(3) Fuel cell sub-systems: portable/stationary (100W – 1000W) $xx - $yy Million (2008) & $zzz+Million (2012) Globally– methanol reformer/purifier for portable/stationary/remote FCs– reformers, membrane reactors, and/or purifiers for hydrogen
from other fuels
$4.8 billionworldwide market
(2005)
Proprietary –Do Not Post
Courtesy J. Altman, President & CEO
Focus on $4.7B Lighting Control Market
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 33
THE SOLUTIONCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 34
The Solution: Your secret sauce, part 1
Content• Compelling value proposition
• What’s the benefit to the customer’s business? (revenues, costs, time, productivity, market)
• Depict real differentiation (but stay out of the weeds)
• Describe your business
• Product or service
Style• Use the same visual “model”
• Make it look like it all feels better
• Show where the solution fits in customer’s ecosystem
• Depict technical elegance (keep out of those weeds)
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 35
If you don’t have their attention by now,you’re dead!
Q2. What do you do*?
• Technology & Secret Sauce– Fear: They’re a bunch of techies with no business sense– Greed: They have an innovative solution to an important problem
• Do– Describe what, not how– Relate to the problem being solved
• Don’t– Use jargon, acronyms, formulas or equations– “Dumb Down”; instead, clarify
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 36
*In language I can understand!
Pressure
Volume
The Technology
Charged waterand ethanol
Fuelreservoir
piston
2
1
1
2
ESS
Courtesy Dr. B. Ahern, Catalyzed Combustion
What Do You Want?
• Dazzle them with your technical expertise?
• Dazzle them with their potential ROI if they invest with you?
© 2013 Plano & Simple | www.PlanoAndSimple.com 38
piston
Current Technology
Courtesy Dr. B. Ahern, Catalyzed Combustion
piston
CCA Technology: Cleaner, Cheaper
CWF: Charged Water Fumigation
Courtesy Dr. B. Ahern, Catalyzed Combustion
COMPETITIONCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 41
Competition: Your sustainable advantage
• CTO Guidelines– Discuss current and potential competitors– Incumbents, Startups, In-House, Substitutes– Provide framework to demonstrate differentiation– BCG grid and/or benefits matrix– Use customer-centric attributes and dimensions– Demonstrate knowledge of the landscape, including past failures– Embrace competitor strengths– Know your weaknesses (how competition would sell against you)– Highlight secret sauce, competitive advantages, barriers to entry– Correlate with previous market slide and upcoming business model
and financial slides
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 42
Q3. “Why are you better?”
• Competitive Advantage– Fear: They’re just one of a bunch of me-too companies…– Greed: This is a disruptive innovation!
• Do– Focus on customer benefits, not technology features– Show the competitive landscape without clutter
• Don’t– Claim you have no competition– Get overly detailed and complex
© 2013 Plano & Simple | www.PlanoAndSimple.com 43
P&S Competition Template #1
© 2013 Plano & Simple | www.PlanoAndSimple.com 44
Benefit 1 Benefit 2 Benefit 3 Benefit 4
Your Company Logo
Business as Usual
Direct Competition
Indirect Competition
Emerging Competition
Power Generation Options
CapEx per kWe
OperatingEfficiency
Electric Rate
$/kWe-hr
Wilson’s super turbine
$1500-200050%
80 – 90% CHP$0.05 –
0.10
Utility power $750 – 2000
33% average grid
50% new gas-fired
$0.07 – 0.15
IC Recip $750 – 1500 25 – 35% $0.08 – 0.17
Current Microturbines $1500 – 2000 25 – 35% $0.10 – 0.20
Wind $3000 – 5000 $0.10 – 0.20
Photovoltaics$8000 – 12,000 10 – 15% $0.25 – 0.40
Courtesy Dr. D. Wilson, Wilson TurboPower
P&S Competition Template #2
less affordable more affordable
less desirable
more desirable
Them 3
Them 4
Them 1
Them 2
© 2013 Plano & Simple | www.PlanoAndSimple.com 46
Us
Q4. “How Will You Stay Better?”
• Intellectual Property Status and Strategy– Fear: Anyone can do this.– Greed: They can protect their advantage!
• Do– Know your claims (if using patents)– Describe other barriers to entry
• Don’t– Forget to mention your IP strategy– Imply that others have rights to the innovation
© 2013 Plano & Simple | www.PlanoAndSimple.com 47
“All lawyers cost the same in the end.” – Sharon Ballard
I AM NOT AN ATTORNEY!!!!!CAVEAT
© 2012 Plano & Simple | www.PlanoAndSimple.com 48
Which Type of Protection?
Type of protection Subject matter Benefit Drawback
Patents Useful inventions Essential for licenses & acquisitions
Costly & time-consuming to create & defend
Trademark Brands Easy and inexpensive May be hard to defend
Copyright Works of authorship Easy and inexpensive May be hard to defend
Trade secret Valuable business information Easy and inexpensive Very difficult to maintain
Market strategy Business model May be wildly successful May be a complete
failure
© 2012 Plano & Simple | www.PlanoAndSimple.com 49Caveat: I Am NOT An Attorney!!
TECHNOLOGYCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 50
Technology: Your secret sauce, part 2
• CTO Guidelines– Translate key points from business to technical domain– Show how customers and partners fit in, if possible– Concentrate on essential value proposition!– Talk to important but peripheral issues and details, avoid clutter– Address “invent vs. integrate” issues– Show that you will invent only uniquely competitive elements– Show incremental development path that reduces risk, if possible
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 51
Q5. “Is it real or is it vaporware?”
• Technology Development Stage– Fear: This is a science experiment that will never make it out of the lab– Greed: This technology is already earning revenue!
• Do– Show (customer) validated data– Indicate progress toward product
• Don’t– Overwhelm with data
© 2013 Plano & Simple | www.PlanoAndSimple.com 52
Pitching Mistakes: Too Much Information
• Jargon & Acronyms
• Detailed Technical Descriptions
• Overwhelming Amounts of Data
© 2013 Plano & Simple | www.PlanoAndSimple.com 53
Pitching Mistake: TMI
UsThem
Critical Area
© 2013 Plano & Simple | www.PlanoAndSimple.com 54
PRODUCTCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 55
ProductHow will you make money? Part 1
• CTO Guidelines– What is the solution delivered (product, software, service, etc.)– How are you solving the Market’s Need/Pain– Where does the product or solution sit relative to the ecosystem
around it
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 56
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 57
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 58
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 59
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 60
BDR Technology is Capital Efficient
Pump
Vessel
Methanol
Feedstock
Catalyst
Reactants
Glycerin
BioDiesel
61
BUSINESS MODELCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 62
Business Model: How will you make money? Part 2
• CTO Guidelines– How and what do customers buy?– Discuss high level pricing (e.g., annuity or one fee)– Describe what the customer will get (today and beyond)– Who are the key players?– Profile the customer (vertical/buyer or user/application)– Profile critical partner relationships (current and future)– Profile who sells your product or service (in/out-house)– Marketing and sales plan– Explain value chain and sales cycle– Compare and contrast to industry comparables– Emphasize external validation– The Budget: “We’ve committed Y dollars to fix this problem…”
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 63
Q6. “How will you make money?”
• Fear & Greed– Do they have any idea how to build a business in this industry?– They’ve got a validated model!
• Do– Have a defensible business model (competitors)– Know the decision maker & the end user
• Don’t– Get overly detailed– Include your development plans
© 2013 Plano & Simple | www.PlanoAndSimple.com 64
The Value Chain
CustomerTechnology
$$
© 2013 Plano & Simple | www.PlanoAndSimple.com 65
Your Value Chain
Pepp-Mato
Keep It Simple!
Suppliers [YourCo Logo]
Decision Makers
End Users
Don’t Forget:• Production• Sales & Marketing• Distribution• Service
© 2013 Plano & Simple | www.PlanoAndSimple.com 67
One-Time Fees
Marketplace (All Clients)
Vendors
RecurringRevenue
Common Mistake:Too Complex/ Not Focused
The Company
Recurring Services
(All Clients)Services
(Premium Clients)
One-Time Fees
Transaction Fees (Available to All
Clients)
RecurringRevenue
One-Time Fees
Note:Not included in Financials
One-Time Fees
Marketplace (All Clients)
Vendors
RecurringRevenue
Common Mistake:Too Complex/ Not Focused
The Company
Recurring Services
(All Clients)Services
(Premium Clients)
One-Time Fees
Transaction Fees (Available to All
Clients)
RecurringRevenue
One-Time Fees
Note:Not included in Financials
TEAMCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 70
Team: Experience in execution
• CTO Guidelines– Credibility– Domain expertise and unique customer insight– CEO hires people with skills better than their own– A-team attracts A-hires– Strategic orchestration of team members– What’s missing– Management– Previous companies and titles– Industry recognition where meaningful– Board of Directors– Current firms– Previous operating experience
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 71
Q8. “Why are you the right team?”
• Fear & Greed– Don’t they have any relevant experience?– These guys are rock stars!
• Do– Highlight your team’s experience– Leverage advisors, partners, etc.
• Don’t– Focus on degrees– Ignore major holes in your team
© 2013 Plano & Simple | www.PlanoAndSimple.com 72
Team Template
Team
Jane DoeCEO
• Experience• Experience• Education
George OscarCOO
• Experience• Experience• Education
Advisors
John Doe CEO, Bigshot Corp
Jill St. John, PhD Professor, Fancy University
© 2013 Plano & Simple | www.PlanoAndSimple.com 73
Partner Logo Partner Logo Grant Provider LogoPartner Logo
Management Team Template
Jane DoeCEO
• Experience• Experience• Education
George OscarCTO
• Experience• Experience• Education
John DoeVP, New Business Development
• Experience• Experience• Education
© 2013 Plano & Simple | www.PlanoAndSimple.com 74
Extended Team Template
Advisory Board
Michael Nesmith • Current title• Relevant experience
Peter Tork • Current title• Relevant experience
Davy Jones • Current title• Relevant experience
Micky Dolenz • Current title• Relevant experience
Partners
John Doe VP, R&D, Big Manufacturing Corp
Jill St. John, PhD Professor, Fancy University
Jason Bourne CEO, CustomerCo
Lily Smith VP Distribution, Supplier Heaven, Inc.
© 2013 Plano & Simple | www.PlanoAndSimple.com 75
Big Mfg Co Logo
Fancy University
Logo
Supplier Heaven Logo
CustomerCo Logo
FINANCIALSCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 76
Financials: Your Five Year Projections
• CTO Guidelines– Thorough and thoughtful– P&L, Income Statement, Balance Sheet– Deal– Use of proceeds– Provide high level 5 year projections– Revenues and expenses by major categories– Pretax profit (loss), cash flow, capital requirements– Head count– Highlight milestone targets– First revenues– Cash-flow positive– Tangible competitive barriers (customers, IP, etc.)– $100M/yr run rate in year 5 is cliché, but expected
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 77
Q7. “How much will you make?”
• Fear & Greed– Do they have any idea how implausible that sounds?– This company can help me make my numbers!
• Do– Keep it simple: revenue, margin, breakeven– Know your industry’s Key Performance Indicators
• Don’t– Make up numbers. They will know.– Make a hockey stick you can’t defend
© 2013 Plano & Simple | www.PlanoAndSimple.com 78
Pitching Mistake: Too Much $ Detail
© 2013 Plano & Simple | www.PlanoAndSimple.com 79
2011 2012 2013 2014 2015
Compactors Units 24 29 40 80 120Revenue 2,463,500$ 2,178,000$ 2,800,000$ 5,600,000$ 8,400,000$ Costs 1,490,100$ 1,437,000$ 1,400,000$ 2,800,000$ 4,200,000$ Expenses 501,093$ 326,700$ 420,000$ 840,000$ 1,260,000$ EBITDA 472,307$ 964,318$ 980,000$ 1,960,000$ 2,940,000$
Compactor Units 24 29 40 80 120Service Revenue 12,000$ 14,500$ 20,000$ 40,000$ 60,000$
Cumulative Revenue 12,000$ 26,500$ 46,500$ 86,500$ 146,500$ Contracts Costs 3,000$ 6,625$ 11,625$ 21,625$ 36,625$
Expenses 3,000$ 6,625$ 11,625$ 21,625$ 36,625$ EBITDA 6,000$ 13,250$ 23,250$ 43,250$ 73,250$
AD Systems # Tanks 4 13 16 24 36Revenue 2,100,000$ 8,500,000$ 10,000,000$ 15,000,000$ 22,500,000$ Costs 1,147,000$ 5,586,000$ 6,000,000$ 9,000,000$ 13,500,000$ Expenses (279,447)$ 1,123,880$ 2,000,000$ 3,000,000$ 4,500,000$ EBITDA 1,232,447$ 1,790,120$ 2,000,000$ 3,000,000$ 4,500,000$
AD # Tanks 4 13 16 24 36Service Revenue 20,000$ 65,000$ 80,000$ 120,000$ 180,000$
Cumulative Revenue 20,000$ 85,000$ 165,000$ 285,000$ 465,000$ Contracts Costs 5,000$ 21,250$ 41,250$ 71,250$ 116,250$
Expenses 5,000$ 21,250$ 41,250$ 71,250$ 116,250$ EBITDA 10,000$ 42,500$ 82,500$ 142,500$ 232,500$
Total Revenue 4,595,500$ 10,789,500$ 13,011,500$ 20,971,500$ 31,511,500$ EBITDA 1,720,753$ 2,810,188$ 3,085,750$ 5,145,750$ 7,745,750$
Income Statement Example
© 2013 Plano & Simple | www.PlanoAndSimple.com 80
(,000,000) 2011 2012 2013 2014 2015
Revenue 4,564 10,678 12,800 20,600 30,900
COGS 2,637 7,02 7,400 11,800 17,700
Gross Profit 1,926 3,655 5,400 8,800 13,200
OpEx 222 1,451 2,420 3,840 5,760
EBITDA 1,705 2,204 2,980 4,960 7,440
EBITDA w/ recurring 1,721 2,810 3,086 5,146 7,746
Confusing, but complete
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 81
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 82
Revenues and EBITDA
2011 2012 2013 2014 20150
5
10
15
20
25
30
35
Product 2Product 1
© 2013 Plano & Simple | www.PlanoAndSimple.com 83
$1.7
$7.8
$5.2
$3.1$2.8
EBITDA
$,000,000
Q9. “What will you do?” andQ10: “How much will it cost?”
• Fear & Greed– Don’t they have a clear path to an exit?– They know what it will take to build a company and to exit!
• Do– Describe your focused plan for development through liquidity– Make Your Ask!
• Don’t– Focus on technology development alone– Add milestones unless they add value
© 2013 Plano & Simple | www.PlanoAndSimple.com 84
P&S Development Plan & Ask Template
© 2013 Plano & Simple | www.PlanoAndSimple.com 85
2011 2012 2013 2014 2015
• Demo complete• 2 new patents filed
• Regulatory compliance• 1st customer signed
• Break even• 5 customers
signed
$15 M
$4 M
$5 M
85
Revenues and Planned Capital Program
• Current larger sales programs– Whole Foods: mid-Atlantic rollout in progress– Commonwealth of Pennsylvania: State Parks, Turnpike facilities– New York Power Authority– Anheuser-Busch: East Coast campaign underway, 15+
PaceControllers per warehouse– Verizon: Installation of 60+ PaceControllers in “negawatt” pilot– McDonald’s: Program starting with Pennsylvania franchise owners
• Projected FY05 and FY06 revenues
• Planned capital raise– First half of 2006– Total capital sought: approximately $2 million
Courtesy T. Mills, Pace Controls
Exit - Clear Path
• Potential Acquiring Companies:– Diversified Industrial Companies with Renewable Energy Interests
• General Electric– Building Control Companies
• Honeywell – Automatic Meter Reading Companies
• Itron– Utility Software Companies
• MRO Software– Enterprise Energy Management Companies
• Enerwise Global Technologies
• Acquisition ( ≈ 3 - 5 yrs)– Market position – Brand – Sales channel
– OEM relationships – Field-tested technology – Recurring revenue stream
Courtesy D. Kopans, Fat Spaniel
Funding
• $2.0m to Date - Common
• $3.0m Proposed - Series A Preferred– 45% Sales & Marketing– 35% R&D– 20% G&A
• Strong Funding Partner– Industry Knowledge– Contacts– Hands-on Capabilities– Follow-on Support
Courtesy D. Kopans, Fat Spaniel
Key Performance Indicators
• Examples– Churn rate– Mean Time Between Failure– Etc.
• SMART– Specific– Measurable– Achievable– Relevant– Time-Phased
© 2013 Plano & Simple | www.PlanoAndSimple.com 89
TIPS & TOOLSCleantech Open Pitch Deck
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 90
Cleantech Open Keys
• Summarize your three strongest points
• Distill to memorable sound bites
• Highlight synergies with prosplective investors– Portfolio– GP background– Domain expertise
• Solicit feedback
• Identify and address concerns
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 91
Presentation Pointers
• You– Practice, Practice, Practice– Be Enthusiastic– Have a Conversation – Make Eye Contact– Listen, Acknowledge, Respond
• Presentation– Have Relevant Backups– Create Simple Slides– Use Graphics, Text and Words– Use PowerPoint Wisely!
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 92
For the 10 Questions…
Good Luck!!
© 2011 - 2013 Plano & Simple | www.PlanoAndSimple.com 93
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Session 2 will start at 2:45pm PDT3:45pm MDT, 4:45pm CDT, 5:45pm EDT
97 Cleantech Open Confidential Information – All Rights Reserved
Session 2: Working With PARC (Palo Alto Research Center)
3:00pm – 3:15pm, PDT
Speaker: Sean GarnerManager, Energy Systems Group, Hardware Systems Laboratory, PARC
Focus Areas
Printed & FlexibleElectronics
Networking & Distributed
Systems
Innovation Services Optoelectronics
Health & WellnessBig Data
Prototyping Services
Cleantech
Digital Design & ManufacturingEnergy
PARC | 100
Who We Work With
Case: SolFocusCleantech startup focused on solar energy
Business opportunity– Two entrepreneurs had a vision for making solar
electricity a reality; had a concentrator (CPV) design
PARC offering– Expertise in optical system design, semiconductor
materials, solid state electronics and packaging
Solution– Optimized design for high-throughput manufacturing
and lower cost; became design for second-generation product
– Incubated company; grew from 2 to 50 employees– Highest funding rounds at time; one of better
regarded solar companies during cleantech “rush”
PARC | 101
Result:Deployed first commercial product in Europe within 2 years
www.parc.com/solfocus
Case: Power Assure Startup providing SaaS for data centers
Business opportunity– To address data center virtualization needs as well
as capture potential cloud computing opportunities
PARC offering– “Model-based” energy management suite based on
strong multidisciplinary expertise and cross-industry experience
Solution– Partnered for $5M U.S. DOE grant (1 of 14
awarded)– Decouples virtualized software from hardware
resources to respond to shifting energy demands– Balances tradeoffs in meeting data center service
agreements and addressing quality for customersPARC | 102
"I was surprised at how easy it was to work together, how easy it was to put an agreement together regarding IP (being able to clearly define ahead of time what/whose IP and what is shared), and then, the openness to go in and solve problems together in that spirit."
-- Brad Wurtz, CEOwww.parc.com/powerassure
PARC | 103
Current Energy PortfolioBatteries
Solar
Adaptive Energy Management
Other Energy Enablers
Co-Extruded Battery
Printed Integral Battery
Fiber-Optic Battery Sensors
SiliconProcessing
Organic PV OpticalEnhancement
DataCenters
PowerSystems
Grid-TiedAssets
Direct CarbonFuel Cell
EnhancedGeothermal
PowerConverters
Battery manufacturing, monitoring, and control technologies to improve performance and economics.
Solar architectures, materials, and processing techniques to improve efficiency.
Adaptive model based control architectures to optimize complex energy system efficiency, value, and quality of service.
Application of multi-disciplinary core competencies to develop new technologies for energy markets.
5
4 3
2
S
PARC’s Dl- detector
Fiber collimator
Linear variablefilter
Split detector
Electronics
Version with integrated electronics
Fiber collimator
Linear variablefilter
Split detector
Electronics
PARC | 104
Cleantech Open Sponsorship
How to Work With PARC• Seed/Early Stage
– Accelerate time to prototype, time to funding, time to market– Access to deep expertise in many fields without the need to immediately
hire a team– Access to lab space and equipment without having to make the capital
investment– Possibility of being located at PARC
• Growth/Expansion Stage– Break into new markets (grow exit values) and pivot at critical junctures
Sean Garner, Area Manager, Energy [email protected], (650) 812-4732
106 Cleantech Open Confidential Information – All Rights Reserved
Session 2: Evaluating Your Mentors
2:45pm – 3:00pm, PDT
Speaker: Paul deGiveNational Curriculum Chair,Cleantech Open
107 Cleantech Open Confidential Information – All Rights Reserved
Rating Your Mentor
• Survey is in Accelerator wiki: http://wiki.cleantechopen.com/rating-your-mentor/
• Important to provide your feedback• We use your feedback to improve our mentor community for next
year• Your mentor may be the Regional Mentor of the Year or even
better, the National Mentor of the Year
108 Cleantech Open Confidential Information – All Rights Reserved
Session 2: Overview of the Next Three Months
3:15pm – 4:00pm, PDT
MC: Rex Northen,Executive Director, Cleantech Open
109 Cleantech Open Confidential Information – All Rights Reserved
Overview
• Congratulations on getting through the first half of the 2013 Accelerator
• Thank You for Attending the National Webinar Series – we hope the webinars were helpful
• Short survey (5-6 questions) will be sent to all of you the week of 9/16
• Webinar, Tuesday, October 22, 1:30pm – 2:30pm– Preparing for the Global Forum– Preparing your stage time at the Global Forum
110 Cleantech Open Confidential Information – All Rights Reserved
2013 Accelerator Calendar (US)
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Every Tue, Jul 9-Sep 3Webinars & RegionalBusiness Clinics& Seminars
Tue, Sep 10AcceleratorDeadline &Global Ideas CompetitionDeadline
Tue, Sep 24RegionalMock Judging
Tue-Fri, Oct 1-18Regional JudgingRegional Awards
Wed-Thu, Nov. 20-21Global Forum(Includes: National & Global Judging, Investor Connect, Expo, Awards Gala)
Feb/MarAccelerator Launches (by Region)
Mar/AprOrg Congress(by Division)
Tue, Jun 11Accelerator ParticipantWelcome Webinar
Fri-Sun, Jun 21-23National AcademyWest Coast
Thu-Fri, Jun 27 & 28National AcademyEast Coast
Tue, May 1Accelerator Application Deadline
Wed, May 24Accelerator Participant Announcement
Apr 24National Briefing
APPLICANT RECRUITMENT (OCT ‘12 – MAY ’13)
TRAINING (JUN– SEP)
NETWORK BRIEFINGS (JAN ‘13 – MAY ’13)
111 Cleantech Open Confidential Information – All Rights Reserved
Mock Judging – September 24
• Presentation:– You will have 10 minutes to pitch - match the format of Second
Round Judging– You will be cut off at TEN (10) minutes, so practice your timing– OUR RECOMMENDATION - KEEP YOUR PRESENTATION TO ABOUT
EIGHT MINUTES to allow plenty of time for questions
• Check with your region for exact date(s) and location(s)
• Opportunity for you to pitch a panel of judges and receive real-time feedback
112 Cleantech Open Confidential Information – All Rights Reserved
Regional Awards – First Half of October
• Each receives $10,000 in seed investment and in-kind services• Regional Finalists and Regional Sustainability Finalist will go to
the Finals at the Global Forum
• Check with your region for exact date(s) and location(s)
• Mandatory activity• Judging, meeting investors,
networking• Each region will select 2-5
Regional Finalists + 1 Sustainability Finalist
113 Cleantech Open Confidential Information – All Rights Reserved
2013 Global Forum – November 19th – 21st “The Academy Awards of Cleantech”
• Mandatory activity for Regional Finalists & Sustainability Finalist
• Judging for finalists:– Finalists will go through 1 round
of judging – category finalists selected
– Category finalists will go through final round
– Grand prize winner selected from category finalists• For all semifinalists and finalists
– Expo– Investor Connect
114 Cleantech Open Confidential Information – All Rights Reserved
2013 Global Forum – November 19th – 21st The San Jose Convention Center
• Brand new wing of the SJCC (opening October)• Downtown San Jose - Easy access to public transportation• Hotel across the street • www.cleantechopenglobalforum.org
115 Cleantech Open Confidential Information – All Rights Reserved
2 ½ Days of Activities, Speakers, Networking
Tuesday, November 19 | 2013 | Day 1 (NOTE: Private sessions for semifinalists and alumni only)12:30p: Registration. Networking.01:30p: Panel (Government and Private Labs as Technology Resources)02:15p: Investor Connect (strategic investors, VCs & angel investors meet our entrepeneurs)05:00p: Alumni Panel05:45p: ReceptionWednesday, November 20 | 2013 | Day 208:30a: Registration. Expo Open. Networking.09:30a: Keynotes and Technology Presentations12:00p: Lunch. Expo Open.01:00p: Keynotes02:00p: Category Judging Sessions (Attendees are invited to view live and on-stage judging). Expo Open.04:30p: Keynotes and Technology Presentations06:00p: Category winners for the day announced (these are the teams that will go on to the final judging for the Grand Prize)06:30p: Expo and Wine and Hors d’Oeuvres ReceptionThursday, November 21 | 2013 | Day 307:30a: Registration. Expo Open. Networking.08:15a: Keynote and Panel10:00a: Category Judging Sessions (Attendees are invited to view live and on-stage judging). Expo Open.12:00p: Lunch. Expo Open.01:00p: Technology Presentations and Category Awards02:00p: Finalist Judging Sessions (Attendees are invited to view live and on-stage judging). Expo Open.04:50p: Keynotes and Awards Ceremony07:00p: Expo and Wine and Hors d'Oeuvres Reception
116 Cleantech Open Confidential Information – All Rights Reserved
Speakers
• Senator Shaheen, US Senator, NH • Anup Jacob, Dir, Partner Deutsche Bank Masdar(DBM) • Rick Needham, Google Ventures • Bertholt Leeftink, Deputy Secretary-General – Netherlands • David Rogers, GEF • Tom Steyer, Philanthropist & Environmentalist
Confirmed
Guy Kawasaki Special Advisor Motorola Business Unit of Google
David W. Orr Founder, The Oberlin Project
Bill Ritter Jr. Former Governor of Colorado
Craig Neyman VP & CFO, The David and Lucile Packard Foundation
Ira Ehrenpreis General Partner, Technology Partners
Chuck ReedMayor, City of San Jose, CA
Close to Confirmed
Jim SweeneyDir. Precourt Energy Efficiency Center – Stanford
Just Confirmed
117 Cleantech Open Confidential Information – All Rights Reserved
Good luck!Have fun!
Participate!
Most of all …
Keep Calm and Carry On.