Making Accelerators a vital part of your

entrepreneurship ecosystem

Kevin Gadd, Ohio StateLynn Gellermann, Ohio University

Lynn Gellermann

• Executive Director, Ohio University Center for Entrepreneurship

• TechGROWTH Ohio• Venture Capitalist

Kevin Gadd

• OSU Center for Entrepreneurship Advisory Board Member

• Entrepreneurship Professor– From foundation to acceleration

• Commercialization Director• Serial Entrepreneur

Rufus and Brutus

We have more questions than answers!

Please stop us with questions or suggestions

We Believe

A successful university accelerator is not an isolated program. It is the result of carefully planned and consistent steps in the student’s lifecycle.

Kauffman Agrees

“Finally, at the funnel’s narrow spout, the emphasis shifts to concentrating resources and instruction on the students who seem most likely to succeed.”

“Entrepreneurship education comes of age on campus”, 2013, Kauffman Foundation

Ecosystem Pillars

Ecosystems that support entrepreneurship, innovation and technology commercialization must be built collaboratively by industry, higher education and government leaders.

Center for Entrepreneurship

Academic Programs• Major for Business

Students• Certificate for Non-

Business Students• Appalachian Scholars

Program• Multi-Disciplinary,

Cross-Campus• Research

Student Engagement

• Guest Lecture Series• Student Clubs and

Fraternity Chapter• Venture Café• Hatchery• Pitch Competitions• StartUp Weekends• Innovation Engine

Accelerator

Commercialization & Business

Development• TechGROWTH Ohio• EIRs• Seed Funds• Angel Funds• PTAC• SBDC

Innovation Engine AcceleratorBy the Numbers:

• 6 startup teams from 5 colleges & 2 universities;

• 12 week entrepreneurial “boot camp”• Up to $20K in startup funding per

team• Over 50 mentors providing subject

expertise

Innovation Engine AcceleratorLean StartUp Modules led by venture capitalists Tom Parkinson and Lynn Gellermann using the learning platform of Venture Highway

• Module 1: Lean StartUp Concepts• Module 2: Value Proposition & Customer Segments• Module 3: Customer Discovery• Module 4: Channel Strategies• Module 5: Customer Discovery (2)• Module 6: Market Research• Module 7: Revenue Models• Module 8: Resources & Activities• Module 9: Entrepreneurial Selling & Strategic Alliances• Module 10: Financial Projections• Module 11: Finding & Dealing with Investors

Business Model Canvas

• Vital to University and Community Culture

• Way of Thinking• Method of Learning• Preparation for Leading • Can Apply to Public and Social Sectors• Scale via Hybrid Seminar or Classroom

Delivery

What We Learned

OSU 10X

• Partnership with State of Ohio, ONE Fund• Techstars Affiliate (GAN)• 4th edition going on now– ~450 applications– 39 teams selected – $20,000 per team 12 week program– >$7MM million raised in follow on funding

• Strong community collaboration• Not just OSU students

E-Ship Funnel

Foundations of E-ship

• Student entry point into the funnel• Emphasis on theory, practice, tools• Fundamentals carry forward• Valuable skills for any career• Begins to ignite their passion• What percentage will continue??

Foundations of E-ship

Business Plan Builder

Foundation’s Role

“…we see a large part of our role as exposing students to entrepreneurship and helping them to learn and decide for themselves if they would like to be an entrepreneur or to play some other role.”

“Entrepreneurship education comes of age on campus”, 2013, Kauffman Foundation

Minors and Majors

• Biggest opportunity in the funnel• Should include other academic areas• Ecosystem is critical for these students– Mentors and Alumni

• Program consistency is critical– Not tied to one person

Accelerator Class

• Business Model Canvas• Lean Startup• Customer Development• Learning Maps• Accredited Course• Not all are fully committed

BUS-MHR 3452

Venture Accelerator

Business Model Canvas

Learning Maps

Dashboard

Institutional Knowledge

VH Platform

• Real meaningful results• Flexibility is the key…• Identify opportunities for program

growth and improvement• All materials for the program in one

place• Students keep all of it for later use

We Believe

A successful university accelerator is not an isolated program. It is the result of carefully planned and consistent steps in the student’s lifecycle.

Discussion Time

• What questions do you have?• What suggestions do you have?• Or, we can talk football