IUL MIT Competition

Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL Rev. 2.0 27052010

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Creating a Culture for technogical Innovation

Encouraging researchers to “reach for the stars” and do risky things, cultivating an understanding that “it’s OK to fail.”

Nobel Laureate Ivar Giaever (1973) & Chief Technology Officer of Applied BioPhysics

So, what does it take to cross the Valley of death?

....Select, Direct, Connect

Deshpande Centre for technological Innovation


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Creating a Culture for overcoming failure

Why do so many tech ventures fail?

Can you help taking me across the Valley of death?

....Select, Direct, ConnectDeshpande Centre for technological Innovation


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ISCTE-IUL MIT Portugal Venture Competition

What?

For? People with a dream,

Innovators Technologists - at Universities, Labs & Industry – with a clear value proposition and global reach Investors

Is an Entrepreneurial, technology-based Venture competition

Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL Rev. 2.0 27052010 5

Held once a year Target: nascent or Start-up's / Spin-off's under 5y 4 Technology tracks:

1. Lifesciences

2. Sustainable Energy & Transportation systems

3. Information Technology and the Web

4. Products and Services

Target & Areas

1) Areas include network analysis, logistics, sustainability, flexibility in system design and development of lean enterprises. Curriculum development projects include quantitative as well as qualitative methodologies for engineering systems. Areas aim to create lasting connections between academia and industry.


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Allocates human & financial resources to projectsLeverage on the MIT “go-to-market” experience and

Audax entrepreneurship learning curvesMentor candidates during selection phase and coach

them during venture phase

ISCTE-IUL MIT Portugal Venture Competition

How?


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Why do we need technology

Technology is nothing more than a means to an end...

And to us that means packaging market needs...

... that are global.


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• 33.600 companies founded by living MIT alumni (76% alive, employing 3.3M)

• Annual revenues of $2 trillion (12.5x the GDP of Portugal)

• Annual R&D CAPEX: $650M (54% privately sponsored)

• 500+ patents/y (280+ filed/y)• $90M license revenue ('08)• 72 MIT Nobel Prize winners (7 current faculty members)

Why partner with MIT in technology ventures?


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In a nutshell

4 tracks, any country

Track finalist:

- up to 200k€

Grand finalist:

- up to 400k€

Free Coaching

Access MIT ecosystem

Press & TV coverage.


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Expertise, please

Our Partners:

MIT School of EngineeringDeshpande center for technological innovationSloan Business SchoolISCTE-IUL & Audax


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Audax:- a unique pedigree in entrepreneurship

Pool of investors (BA,

VC & business partners

Consultancy: bus. Strategy,

technology investments,

Advanced control

Business plans (start-up & follow-on investments)

Finance of sources of Capital,

inc. VC Fund co - managment

• Support 150+ projects in 5y (33 start-ups; ~8M€ invested) • Over 25 strategic partnerships (KPMG, CGD, BCP, APCRI, InovCapital, APBA...)

• Unique Educational programs (PEC, PEF)

• CoHitec Lisboa manager• Annual events:

- Audax TV 2008 (6% share, TV2)- Entrepreneurship conference

(+200 participants /y)


Need to send us before 18 June 2010: 2-page Executive summary, and 12-page PowerPoint Value Proposition

Want to send us your submission



Strong & clear Value Propositions: some hints1. Team: members and fit?

2. What is your product and / or service?3. What is the underlying technology and unique?4. What makes your product / or service innovative (€)?5. Who are or will be your customers?6. Market: Is there an opportunity for global impact?

What is the juri looking for?


You will be invited to: Come to ISCTE-IUL for 3-day crash on E-teams (7-9 July) Enrol in our catalyst program Make a televised pitch of your project By 30 August:20-page Go-to-Market strategy with milestones.

If you are one of the 20 lucky guys



You will need to: Come to ISCTE-IUL for 2-day crash on going to market (end September) Send us your revised Go-to-market strategy (20 page) by 15 October with a clear set of milestones. Get financial support consisting of:A monetary cash prize of 5k€ and a loan of 95k€;2x that amount within 5years, if milestones met.

If you are one of the 4-track Finalists



You will need to: Agree milestones with Award Partner Get financial support consisting of:A monetary cash prize of 10k€ and a loan of 190k€;2x that amount within 5years, if milestones are met.

IdeaStream Investors' presentation (MIT, April 2011)

And... “Reach for the stars”

And if you are the Grand Finalist...



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The overal picture

1. Caixa Empreender + Award2. Entrepreneurship-Teams initiative in Portugal:- Multi-disciplinary team formation (inc. MIT Portugal)3. Disseminate technological innovation in Portugal (Tech events & TV)


Member of cross-disciplinary team? Management and /or industrial background? Want to help others to lauch a new venture? Have some spare time?

Program Catalyst: Experienced entrepreneurs Practicing lawyers Investors

Are you a potential?


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[email protected]

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IUL MIT Competition

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