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Ideas, Business Plans, and Entrepreneurs Presented to: VU-BME272 Sep 19,2000 by Bob Allen, Calley...
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Transcript of Ideas, Business Plans, and Entrepreneurs Presented to: VU-BME272 Sep 19,2000 by Bob Allen, Calley...
Ideas, Business Plans,
and Entrepreneurs
Presented to: VU-BME272 Sep 19,2000Presented to: VU-BME272 Sep 19,2000
by
Bob Allen,
Calley Hardin & Paul Clayton
Nova Bionics, Inc. Nashville, TN
Discussion Topics
Sep 2000
•Ideas and where they come from
•Micro-LIDs™ and Micro-SLAMs™
•Business Plans and why we need them
•Entrepreneur wisdom
•VU graduate’s perspectives
Idea Overview
Sep 2000
Ideas are…
•The product of mental activity and imagination
•The basis of creativity
•The result of reason as opposed to perception
•A plan of action or a path to follow
“Ideas are like rabbits, you get a couple and learn to handle them and pretty soon you have a dozen.”
…John Steinbeck
Micro-LIDs™ to Micro-SLAMs™
1966 LID Semiconductors
•Very small size and weight
•Ultra reliability
•Eliminate custom charges
•Cost-quantity advantage
1999 Micro-SLAMs ™
•Near chip-scale (85%)
•Reduced height
•Custom configuration
1992 Micro-LID™ Arrays
•Multi-chip semiconductors
•High density-surface mount
•Biomedical industry need
Micro International, Inc. Nashville, TN USA
What are Micro-LIDs?
• Acronym: LID- Leadless Inverted Device
• Leadless, ceramic, surface mount semiconductors
• Very small size and low weight
• Environmentally rugged - wide temperature range, high shock/vibration, etc.
• Excellent radio-frequency characteristics
Micro International, Inc. Nashville, TN USA
What are Micro-LIDs?
• Single-chip and multiple-chip format
• Replaces circuits containing 2-8 individually packaged semiconductors with a single surface- mountable component
• Originally pioneered by NASA research engineers in the 1960’s (R.V. Allen, S.V. Caruso)
• Niche markets which have over-riding needs for ultra-reliability, small size, and low weight
Do not check your mail Do not check your mail while on vacation or the while on vacation or the day before you close on day before you close on your new house.your new house.
December 29 1998...December 29 1998...
Never give up... Problems only Never give up... Problems only create opportunitiescreate opportunities
Major customer facilitated problems Major customer facilitated problems force rapid, widespread, and long-force rapid, widespread, and long-lasting solutionslasting solutions
Micro International, Inc. Nashville, TN USA
What are Micro-SLAMs?
• Acronym: SLAM- Surface Level Active Microcircuit• Near chip-scale leadless, ceramic, surface mount
semiconductors• Ultra small size and low weight• Environmentally rugged - wide temperature range, high
shock/vibration, etc.• Replaces circuits containing 4-16 individually packaged
semiconductors with a single surface-mountable component• Technology provided as a “merchant” component product
line by Micro International and Quadtron
Micro International, Inc. Nashville, TN USA
Hex Zener Assembly
.020
.005.005
.080
TOP VIEW
.040
SIDE VIEW
.080
END VIEW
SUBSTRATE / CIRCUIT BOARD
.090
.090
.020
TOP VIEW - DIE PATTERN
.015
.010
.010
.015
.010
Micro-SLAM .080” x .090” x .040”
7,200 sq mils
Micro-LID .160” x .090” x .055”
14,400 sq mils
Size Reduction 50%
Micro International, Inc. Nashville, TN USA
Quad Diode Assembly
.005
TOP VIEW
.040
SIDE VIEW
.055
END VIEW
SUBSTRATE / CIRCUIT BOARD
.070
.055
.070
.070
.055
.015.010.015
.010
.010.015
.015
TOP VIEW - DIE PATTERN Micro-SLAM
.055” x .070” x .040”
3,850 sq mils
Micro-LID
.160” x .090” x .055”
14,400 sq mils
Size Reduction
73%
.100 x .120 per diode .040 x .075 per diode .090 x .160 .060 x .090
Quad Diode Array ReductionSingle Leaded Diodes Single Micro-LIDs Multiple-chip Micro-LID Multiple-chip Micro-SLAM
Multiple-chip Micro-SLAM assembly reduces component square area by 88.75% over
single leaded diodes.
Multiple-chip Micro-SLAM assembly reduces component square area by 88.75% over
single leaded diodes.
Know whether you are Know whether you are going up or down the going up or down the entrepreneur hill and be entrepreneur hill and be prepared to give up prepared to give up TOTALTOTAL control to expand control to expand your resourcesyour resources
Avoid passion driven Avoid passion driven pleasures in uncharted pleasures in uncharted waters and isolated islandswaters and isolated islands
Micro International, Inc. Nashville, TN USA
To provide higher value-added micro-components and assemblies for biotelemetry products
Natural high reliability application of micro-components
Opportunity to modernize factories and relocate them to Nashville
Broadens recognition among customer base and the technical community
To become intimately involved with new VU facilitated biomedical initiatives (VU Office of Enterprise Development)
Direction & DecisionDirection & Decision
Philosophy
Sep 2000
• Deal Model– Build on existing ideas– Catalyze new ideas
• Participate in “Vision” Creation– Strategy– Structure
• Involve Student Interns– Due Diligence– Deal Evolution
Investment Parameters
Sep 2000
PRE-SEED CAPITAL• Up to $300,000 per project• No matching funds required• Use:
– Due Diligence– Business Plan– Recruit Management– Reduction to practice– Proof of principle– Alpha Demo
Investment Parameters
Sep 2000
SEED CAPITAL• Up to $2M per project• At least a 50% match from third-parties• Use:
– Establish Business Infrastructure– Refine Technology and Product– Initiate Regulatory Approval– Marketing & Sales– Working Capital
Portfolio – Seed Deals
Sep 2000
• MXISystems, Inc.– Monochromic X-Rays– Imaging (Medical, Industrial, Proteomics)
• WebEBM.com– “Evidence Based Medicine”– University Consortium– Multiple Revenue Model
• Cardiovascular Services of America, Inc.– Outpatient Cardio Diagnostic & Treatment Facilities– EBCT Imaging– Disease Management/Wellness
Portfolio – Pre-Seed Deals
Sep 2000
• IS², Inc.– Medical IT Software Product Line– Consulting & Integration Services– ASP Applications
• Nova Bionics, Inc.– Electronic Medical Devices– University Middleman for Devices– Telemetry Products, 1st Domain
• iTEACH.com– Vertical portal for the K-12 Teachers-Student-Parents
Market– University Consortium– Revenues linked to Proven Results
Pre-Seed Deals (con’t)
Sep 2000
• American Graduate School of Management– Interactive, multimedia-based learning solutions– Global Executive Business Education– Customer – International Corporations
• MicroArrays, Inc.– DNA chips – study thousands of genes simultaneously– Existing product line; e-commerce strategy
• PharmaVU, Inc.– Vehicle for developing new drug candidates– Unique product acquisition strategy– Unique CRO Component
• CET, Inc.– Bridge to SBIR/STTR Funding Resources
Consistently reviewing additional projects
Dreams of a Pre-Seed
Sep 2000
I want to be a sapling and growup to be a big oak
tree!
Baby Nova Little Nova Papa Nova
You can’t have a dream You can’t have a dream come true until you have a come true until you have a dreamdream
Company Description
Nova Bionics , Inc……was formed within the Vanderbilt Office of Enterprise Development to effectively commercialize biomedical device research, inventions, disclosures, and intellectual property developed internally or acquired from research universities, government laboratories, and individual inventors.
TDR-2/08-30-00
…is an incubator and idea processor for medical devices from concept to application.
Mission & Vision
Mission StatementMission Statement
To discover, develop, and commercialize biomedical devices with the potential to foster understanding of life processes, prolong life, or to improve the quality of life.
Vision StatementVision Statement
To become a recognized leader in taking biomedical technology from concept to application.
TDR-2/08-30-00
Nova Bionics Technical OperationsTECHNICAL OPERATIONS
R. Allen, CTO
Purchasing& Subcontracts
T. Hazlewood, Mgr
• Component Suppliers
• Contract Manufacturers
EmergingTechnologies
R. Allen
• Bio-Sensors
• Micro-Technologies (MCM/SOC)
• Surgical Instruments
• Engineering Documentation
• Tech Support
• Supplier Development
Project Engineer
C. Hardin, Engr
Quality Assurance
J. Jones, Mgr
• Quality Control
• Inventory Management
• Shipping/Receiving
Technical Advisory Board
Product Design
P. Clayton, Engr
• Advanced Concepts
• Circuit Design
• Software Interface
Adm Asst (New)
Management commits to Management commits to providing the environment providing the environment for success and employees for success and employees commit to having fun in commit to having fun in their successtheir success
www.novabionics.com
Home Page Internet
www.novabionics.com
Administration Intranet
Log ideas
Assign Domains
Assign evaluators
Evaluator Intranet
Review ideas
Rate by category
Submit questionnaire Auto E-Mail Reminders
Evaluator Bulletin Board and Chat
TDR-2/08-30-00
Alzheimer’s Memory Walk
TDR-2/08-30-00
NOVAFIND™
* Provisional patent and trademark under review.
CaregiverPeace of Mind
Long Range Tracking and Locating
Alzheimer’s Patient Location
Domestic Pet Protection
Home Confinement
Child Safety
0-9 Months 1-2 Years 2-3 Years
TDR-2/08-30-00
Long-Range Systems (Product Development)
Size: 12 mm x 12 mm x 4 mm
Range: 3-5 km
Micro-size, inconspicuous transmitter and pocket-size receiver
Defined zone alarm and location capability outside zone
Packaging / Configuration: per current projects by VU MT330 and BME272 students
Design Performance:
TDR-2/08-30-00
Business Plans and why we need them
Sep 2000
Professional Services Bank Line of Credit Insurance Ratings
Road-map to keep focused Avoid being opportunistic
Investment Needs Angel Investors Venture Capitalists
Explain what we do to the technically challenged!
One idiot can ask more One idiot can ask more questions than ten wise men questions than ten wise men can answercan answer
Business Plan Content
Sep 2000
Executive Summary Organization and focus Market opportunity Competition Management
Industry and Business Model Market segments Approach to market Market strategies
Business Plan (con’t)
Sep 2000
Product, Technology and Capabilities Product background Development status Prototyping and Manufacturing Quality documentation Risk factors
Financials Pro-forma Income Statement Pro-forma Balance Sheet Management and personal projection Uses of capital
are better starters than sustainersare better starters than sustainers
thrive on taking risks and living on thrive on taking risks and living on the edgethe edge
always enjoy a good chasealways enjoy a good chase
are revitalized by recognitionare revitalized by recognition
don’t mind making severe don’t mind making severe sacrifices for future rewards sacrifices for future rewards
Why work for a start-up company?
Sense of ownership: You are a key player in every success
and failure of the company.
Sep 2000
Hands-on experience: You will gain experience in every facet of the
business. No task too big or too small, you do it all!!
Responsible for your own success: Job description is shaped as your talents are
recognized. It is up to you to optimize your strengths and
admit your weaknesses.
Graduate School First?
More money $ $ (when you get out)
More focused learning in your specific engineering field of interest
Sep 2000
Advantages:
Disadvantages:
Longer wait for real income
More focused means its harder to find your specific field
Miss out on real world things