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 An Entrepreneurial Approach to Angel Investing  

•  Your corporate to-do-list includes:

•  Contract-negotiations

•  Marketing

•  Vacuuming, Dusting, Garbage

•  You beg your spouse,...

•  Can I please go back to work again tonight 

•  You look at the 2009 global economic meltdown as a...

•  Great Opportunity 

•  Your Priest asks you to describe your values,...

•  you dive into your Discounted Cash Flows analysis.

 You May Be An Entrepreneur If...

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Invention

• Search and Connect• Useful and Non-obvious

• Creation resulting from study and

experimentation

INNOVATION

• Economics - Change that increases value

• Art - Something substantially different• Ideas applied successfully in practice

Nikola Tesla

Thomas Edison

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Translational Research

• To improve human health, scientific discoveries must be

translated into practical applications.

Bench to Bedside 

COMMERCIALIZATION

• The process or cycle of introducing a new product into the market.

Market Validation 

Concept Car  Production VehicleChevy Volt

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 An Entrepreneurial Approach to Angel Investing  

Exit Strategy

Financial

Projections

and Use of 

FundsManagement

Team

Competitive

Analysis

Partners and

Collaborators

Market Size

and Entry

Product or

Service

Barriers to

EntryDiligence Process

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 An Entrepreneurial Approach to Angel Investing  

Concept Prod-

Dev Launch Profitability  Growth Next?

• Idea• Market Opp• Patent App• Virtual• Some Market

Research• No cash• Exit? Goals?

• Prototype• User Feedback • Defensible IP• Lean / Staff •

 Comps

• Seed $$• Biz case

• V1 Product• Manufact/QA• FTO-IP• Infrastructure• Sales forecast•

 Sales Execution

• Differentiation• Case for 

profitability • Bootstrap/$$

• Market %• GM%• Expansion• Geog scope• Valuation• Exit positioning• Threats/change• Reinvest/div

• Startup No more

Success in one phase ticket to play next phase

Startup Phase Changes

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 An Entrepreneurial Approach to Angel Investing  

Concept

VC

StrategicPartners

Angels

Family &Friends

BootstrapGrants

VendorsCustomers

PrivateEquity 

BankingExit/ROI

Time

Entity Value

Funding Lifecycle

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Q&AJim Dehlsen

Are some wind turbine designs more commercially acceptable than others based on

visual comfort?

What commercialization hurdles might an entrepreneur face when tech is tootransformative

Umesh Mishra• Are your customer and your end user different?

• How and when do you bring your user and your customer into the design discussion?

KT Moortgat• Does the VC market favor the tech of efficiency versus the tech of Alternative Energy

generation? In other words is it better to invest in prevention or cure?