NVC Orientation Oct 13
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18 th Annual New Venture Competition Orientation 1
Transcript of NVC Orientation Oct 13
18th Annual
NewVentureCompetitionOrientation
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Agenda
1. TechnologyManagementProgramOverview
2. NewVentureCompetition(NVC)– Overview– Process(theroadtoNVC)– Rules,Guidelines&Awards– Resources
3. PanelofNVCVeterans
4. Questions
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Ifyoudidn’tregisterfortonight’ssessionmakesureyousign-inand
leaveyouremailaddress.
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HeretoHelp• DaveAdornetto
• TMPLecturer,EntrepreneurshipProgramDirector
• Phelps1314
• NVCOfficeHours:Wed2to3PM
• Readyouremails!
• SarahHilliard–[email protected]
*TheseslideswillbepostedontheTMPWebsite(“beyondtheclassroom”page)
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TechnologyManagementProgram(TMP)
Overview
InnovationProfessionalDevelopmentSkillsforCareerSuccess
BusinessSocietyEconomy
UniversityKnowledgeExploration
TMP
TechnologyManagementProgram
TMP:AUniqueEducationalProgram• Opentoallmajors
• Curriculumfocusedonbusinessfundamentalsanddevelopingprofessionalskills
• Emphasisoninnovation:Entrepreneurship&Intrapreneurship
• Experientiallearning:TMPcoursesaddressrealbusinesschallenges
• Largeandactivementornetwork:practicingprofessionals andentrepreneursintheregion
• Fastercareertrajectory upongraduation
• Employmentopportunities
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TMP- AcademicElements
Accoun&ng/Finance-Organiza&onal-Behavior-Marke&ng/Sales-Opportunity-Recogni&on-Entrepreneurship-Business-Strategy/Leadership-
ElectivesalsoofferedinSales,MarketResearch,NewProductDevelopment,ManagingOperations,Patents&IP
TMPCertificatePrograms
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MastersofTechnologyManagementAdistinctivebusinessmanagementprogram:• Oneyear,singlecohortprogram• Preparescandidatesforleadershiprolesintechfirms• CurriculumModules
– ManagingtheMarket
– ManagingtheOrganization
– ManagingtheProcess
– ManagingPeople
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TheNewVentureCompetition
Overview
USCBNewVentureCompetition(NVC)• 18th year
• University-wideparticipation
• Studentsformteams,developan idea,andbuildandvalidateabusinessmodel
• Courseworkandseminarsofferedtoprepareteamsforthecompetition
• Broadanddeepmentornetworktoassistandadviseteams
• Aseriousbusinessdevelopmentexercise!
UCSB/TMPGraduateStart-upsCompanies started via the New Venture Competition or founded by TMP alumni
PhoneHaloInc.,NVC2009Winner
• Featured on Regis & Kelly, CNBC• Popular Mechanics Editor’s Choice
Tech Award 2011• Successful Crowdfunding Campaign• Successful Series A Financing
NextEnergyTechnologies,NVC2010WinnerPlasticSolar-CellTechnologydevelopedatUCSBbyfounderCoreyHoven
Apeel Sciences,NVC2012GrandPrizeAnorganicandediblespraycoatingthatpreservesfruitsandvegetablesforlongershelf-life
Bill & Melinda Gates Foundation “Grand Challenges Exploration” Grant Recipient
Multiple rounds of venture funding
Inogen Inc.,NVCWinner2001
Inogen One:GoldMedalwinnerintheMedicalDesignExcellenceAwardscompetition
PortableoxygenconcentratorInogen One
EntrepreneursoftheYear,Ernst&Young30Under30:CoolestEntrepreneursinAmerica,Inc.Magazine
InogenThenandNow
2001
• 3UCSBundergraduates
• BusinessEconandBiology
• Aninspirationforanidea
• TMP &UCSB support
2016
• 400+employees
• PublicCo(2014IPO)
• $150M+annualrevenue
• $1B+marketvaluation
2001 Isla Vista Apartment 2003 single room behind hamburger habit Current offices in Goleta, CA and Richardson, TX
NASDAQ:INGN
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TheNewVentureCompetition
TheRoadtoNVC
NVCJourney
Ideas&Teams
Fall
Mentoring
BrainStorming
Mixers
PitchEvents Bu
sinessC
oncept
NVCJourney
Ideas&Teams
Fall
Preparation
Winter
Mentoring
LeanLaunchCourses
Seminars
BrenEco-E
Capstone
BrainStorming
Mixers
PitchEvents Bu
sinessC
oncept
Busin
essM
odel
NVCJourney
NVFair
NVC
NVCFinals
Ideas&Teams
Fall
Preparation
Winter
Compete
Spring
Mentoring
LeanLaunchCourses
Seminars
BrenEco-E
Capstone
BrainStorming
Mixers
PitchEvents Bu
sinessC
oncept
AnEight-MonthEducationalExperienceBu
sinessM
odel
2016NVCHighlights
Winter
35StudentTeams
Spring
18TeamsatNVCFair
6Finalists
Fall
300+Students
• EVMatch• Dermachill• Opal• Ingrain• OSMO• Vibe
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TheNewVentureCompetition
Rules,Guidelines&Awards
Crap!
Rules&Guidelines:TeamEligibility• UCSBstudentsmakeupmajorityoftheteam
– Idealteamsizeis3to5members– Non-studentsmustbeapprovedbyTMPfaculty(me)
• OnlyactiveUCSBstudentsareeligibleforprizes
• Priorcashfundingmustbedisclosed– Seemeifyou’veraisedorinvestedanycapital
• UseofIPrequireswrittenapprovalofitsowner
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Rules&Guidelines:EvaluationCriteria
• ProblemBeingSolved
• EleganceofSolution
• ProductDifferentiation
• ValueProposition
• BusinessModel
• MarketOpportunity
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• CompetitiveAnalysis
• “GotoMarket”Strategy
• ProductDefensibility
• Quality/DepthofTeam
• FinancialProjections
2016Awards
Total:$42.5K
Grand Prize$12,500
Sponsored by: Stradling
2nd Place $7,500
Sponsored by: UCSB MRL and Dow
3rd Place$2,500
Sponsored by: Procore, SoCal IP Law, Yardi
Citrix Impact Award$5,000
Cliff Hannel Innovation Award$5,000
Elings CNSI Award$5,000
CNSI People’s Choice Award$5,000
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TheNewVentureCompetition
Resources
NVCPrepCourses:
• NotmandatoryforNVCparticipation
• TMP 148/248– Businessmodeldevelopment&launch
• TMP149/249– Developingamarkettestedbusinessmodel
• TMP291SC– Strategiccommunications(tellingthestory)
NVCPrepCourses– WinterQuarter• TMP148/268:BusinessModelDevelopment&Launch
– Instructor:MathewStotts,Principal,TenorMarketing
– Limitedenrollment(30to40)
– AcceptancebasedonbusinessideaandNVCcommitment
– Helpfultohaveotherteammembersenroll
– BasedonAlexanderOsterwalder’s “BusinessModelCanvas”• Leanstart-uptemplatefordevelopingabusinessmodel
• Drivesalignmentandtradeoffsbetweentheelementsofvalueproposition,customers,financesandinfrastructure
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TMP148/268
• Youwilllearnhowto:1. Discoveranopportunity
2. Defineamarket
3. Buildavalueproposition
5. Develop,testandproveyourBusinessModel
6. Findandwincustomers
7. Brandandcommunicate
8. Launch/GotoMarket
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NVCPrepCourses– WinterQuarter• TMP149/269:DevelopingaMarketTestedBusinessModel
– Instructor:JasonSpievak,Founder- Invoca,CCO– Apeel
– Limitedenrollment- 9to10teamsaccepted
– Application/interviewprocess
– Musthavefullteam(4to5members)toapplyandenroll
– Flippedclassroom- basedonSteveBlank’s“LeanLaunch”
– Weeklydeliverable:Conduct10customerinterviewsandpresenttoclass
– Rigorousandtransformational
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TMP149/269
• Whatwillyoulearn?
1. HowtoEvaluateaBusinessOpportunity• Tool:BusinessModelCanvas• Framework:SteveBlank’sLeanLaunchpadmethodology
2. DefiningandProvingaBusinessModel
3. CustomerDiscoveryandValidation
4. DecisionMakingwithinsufficientdata
5. TeamPursuitofanObjective
LeanLaunch:TheBusinessModelCanvas
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LeanLaunch:Build,Measure,Learn
• TheGoal:Maximizelearningthoughincrementalanditerativeengineering– Productfeatures,customerneeds,pricing,distributionchannel,etc.
• MinimumViableProduct(MVP)
• TestHypotheses(MeasureCustomerResponse)
• PivotorPersevere
NVCSeminars:
1. CompletingtheBusinessModelCanvas
2. PreparingFinancialForecasts
3. Legal– General
4. Legal– IP,Patents,Trademarks
5. DevelopinganInvestorPitchDeck
Resources:MentorsandAdvisors
Whoarethey?
• Localentrepreneursandbusinessprofessionals
• Passionateaboutstart-ups
• Industryanddomainexperts
• Wellconnected
• Wanttohelpyou
Howcantheyhelp?
• Theyspeakfromexperience
• Canbegreat“soundingboards”
• Mightbeaninvestororbusinesspartnerlater
• Oftencanconnectyouwiththeirprofessionalnetworks
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Mentorsarevettedbeforebecominginvolved,andmonitoredandevaluatedbyTMP.Seemeifamentoroffersyouanythingunusual!
Resources:Other• TMPWebSite:http://www.tmp.ucsb.edu
• NVCWebSite:http://www.tmp.ucsb.edu/nvc
• Teamfindergroup:-https://groups.google.com/forum/#!forum/nvc-team-finder-2017
• SteveBlankLLPLectures:http://bit.ly/BlankLLP
• ResourcesforEntrepreneurs:http://steveblank.com/tools-and-blogs-for-entrepreneurs
• Moreresourceswillbecomeavailableasyouadvancethroughthecompetition
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TheNewVentureCompetition
NextSteps
NextSteps:UpcomingFallEvents
PrimaryObjectivesforFallQuarter:
• Comeupwithabusinessidea
• Formateam
• Meetmentors
• ApplyforNVCprepclasses
Schedule
Date Time Event Location
26 Oct 5:30PM NVCOrientation2 ESB1001
7 Nov 6:00PM Mixerand “BigIdea”Event ESB1001
17Nov 6:00PM StudentMixer ESB 1001
29Nov 6:00 PM ElevatorPitchSocial&Mixer Corwin
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TeamDeliverables:December2016
• SubmitteamentryapplicationbyDecember31st
– EarlierforacceptanceintoNVCprepcourses(earlyDecember)
– Lateentriesforcompetitionmaybeaccepted,butnotprepcourses
• Teammembernames,emailaddresses
• Businessname(ifestablished)– Thiscanchangelater
• Briefsummaryofproduct/businessidea(onepage)
• Teams/ideasthatareacceptedwillparticipateinWinterquarteractivitiesandevents
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TeamDeliverables:March2016
• Submitbusiness/teamentrybyMarch27thtobeconsideredfortheNewVentureFair
• Businessname&logo
• Business“tagline”(i.e.Subway:“eatfresh”)
• Businessmodelcanvas
• Executivesummary(2pagesmax)
• Teammembernames,emailaddresses
• All teamsmustsubmitanentrybyMarch27th
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NextSteps• Provideyouremailaddressbeforeyouleavetonight!
– Doesnot commityoutoparticipatingintheNVC– Itdoesenableustocontactyoutoprovidemoreinformation
• AttendFallmixersandNVCevents– Designedtogetindividualstogether,completeteams,discover
mentorswhomayhelp
• Startthinkingaboutanideaandlookingforteammates-VisitourGoogleGroupPage:https://groups.google.com/forum/#!forum/nvc-team-finder-2017
• LiketheTMPNewVentureCompetitionFacebookPagehttps://www.facebook.com/tmpnewventurecompetition/
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Questions?
