MPP IEI - Making Entrepreneurs' Dream
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Transcript of MPP IEI - Making Entrepreneurs' Dream
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
Beyond the business plan
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
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ISCTE-IUL MIT Portugal Venture Competition
What?
For? People with a dream,
� Would-be Entrepreneurs� Innovators
– Start-up's / Spin-off's under 5y and <2,5M€
Is an Entrepreneurial, technology-based Venture competition
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
Our Goals:
• Identify and reward projects at an seed/early stage with a clear global value proposition
• Enable a 10x to 20x pre-money valuation within first years of venture
• Connect global Innovators to global Investors
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
In brief
� International technology venture competition � Held once a year� 4 Market-application tracks:
1. Lifesciences
2. Sustainable Energy & Transportation systems
3. Information Technology and the Web
4. Other Products and Services
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
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• 33.600 companies founded by living MIT alumni (76% alive, employing 3.3M)
• Annual revenues of $2 trillion (~10x 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)
Partnership with MIT & MIT-Portugal in tech ventures
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
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Creating a Culture for technological 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
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
• Target: “Starts” where other BP competitions end
• Tools: 100+ hours of training and coaching in Go-to-Market strategies with entrepreneurs, during Selection
• Focus: International catalyst ecosystem, during Venture
...all of which, foster connections to international investors.
Unique aspects:
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
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Audax:- a unique pedigree in fostering entrepreneurship & Innovation
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€ raised)
• 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)
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
€0.5M to 4
Finalists
95
Applications
(2010)
20 Semi-
finalists
Process overview
€0.5M upon
execution
Teams work on
Award
Milestones
Selection
Stage
Venture
Stage
Up to 5
years
March to
November
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
2010 - A Snapshot
Visits
Entries from 6 countries
Portugal, Spain, France,
UK, Canada, USA
367 aspiring
globalpreneurs
Coaching with
entrepreneurs
100+ hours in Go-to-Market strategies
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
2011 Edition:-
Completed tasks
• Held a joint press conference with MIT-Portugal
• Released 1st Venture Competition newsletter
• Launched the 2011 competition Rules & Regulations
• Completed the Roadshow in Portugal (22 Institutions nationwide)
• Gaining social traction Facebook and Linkedin
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
2011 Edition:- Key
Dates
February 14th: Roadshow starts
March 10th: Submission period opens
May 15th: Deadline for project's submission
June 30th: Semi-finalists' announcement
July 13-15th: 3-day Crash Course
September 22th: Track Finals event
November 17th: Grand Finale event
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
IdeaStream @ MITApril 2011
• 1 week trip: business development basics and networking
• Goals− Participation at MIT IdeaStream
• Financing opportunities
− Strengthen relationship with US-based Catalysts− Network with teams/ventures
• Links to provide access to US marketplace
− Kick-off Quarterly Reviews• with US-based Catalyst and IEI staff
• Opportunity to strengthen network of Alumni
• Significantly expand MIT Portugal “brand” and US-based
volunteers for 2011 Competition
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
IdeaStream gathers together the leading minds in innovation and entrepreneurship for an invitation-only event each spring. Top-name venture capitalists, successful entrepreneurs, and MIT researchers consider this a must-attend event.
IdeaStream:-
the Lab-to-Market Symposium
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
2010 Finalists
Track: Lifesciences
• Plux develops innovative solutions for Healthcare, Sports and Scientific research, like bioPLUX clinical system an efficient tool for physical therapy. • Hardware: zero configuration turnkey solution and Bluetooth wireless; Software: unprecedented usabilityUser-friendly and intuitive
Track: E&T
• Waynergy is a system that converts the linear motion of the surface to actuate an electromagnetic technology device that generates electricity.• It reduces the electric energy costs by 50 to 80% in places with great affluence of people or vehicles, applying its energy generation system on the floor.
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
2010 Finalists
Track: P&S
BIPS was the 2010 Winner• Around Knowledge developed BIPS, a solutions able to track individual paths, retrieve times and trends automatically. It is up to 89% less expensive than traditional solutions, and it is able to preserve privacy. • It provides higher confidence levels and data in real time.
• Weadapt develops and sells inclusive products, aimed at the market of people with special needs, contributing to their inclusion and rehabilitation by increasing their self-esteem, well-being, comfort, autonomy and quality of life. • Products: Body Me and Sense Me.
Track: IT & Web
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
2010 Honorable
Mentions
Track: E&T
• Acellera Therapeutics is developing a drug: ACE-1, that reduces the risk of liver transplant rejection and death for the 70,000 people currently living with transplanted livers, without the severe adverse effects of current treatments. • Competes on efficacy and on price with current treatments calculated in up to €19,000 per patient in post-surgical costs.
• PV Solutions is developing a “ribbon” process that produces wafers for photovoltaic panels, directly from feedstock, by-passing the 3 most expensive and energy consuming steps of present technology• The silicon wafer accounts for ~74% of the direct costs of a state-of-the-art solar cell company.
Track: Lifesciences
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
Partners
Organising Partners:
Award Partner:
Media Partners:
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
More
information?
Gonçalo Amorim:
MIT Portugal – Innovation & Entrepreneurship Program Manager
Catarina Madeira:
MIT Portugal – Innovation & Entrepreneurship Operations Coordinator
Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL
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Making entrepreneurs' dreams come true