Pitch Days: Lessons Learned and Practices · 2019-12-05 · Air Force Ventures Pitch Days: Lessons...

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Air Force Ventures Pitch Days: Lessons Learned and Practices December 2019 1

Transcript of Pitch Days: Lessons Learned and Practices · 2019-12-05 · Air Force Ventures Pitch Days: Lessons...

Page 1: Pitch Days: Lessons Learned and Practices · 2019-12-05 · Air Force Ventures Pitch Days: Lessons Learned and Practices December 2019 1. 2 Disclaimer ... Scaling a fast growing technology

Air Force Ventures Pitch Days: Lessons Learned and Practices December 2019

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Disclaimer

These are the speaker’s/author’s personal views and not necessarily those of US Department of Defense or the US Air Force.

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BLUF

AF Ventures leverages private funds to deliver capabilities.

WHAT: Leverage private funds to deliver capabilities and grow the economy.

HOW: Many small bets, scale the winners 1000+ Small bets per year ($50K, 3-months) ~300 Medium bets per year ($1-3M, <24 months, 1:1 private matching OR 2:1 gov matching) 10s ‘Strategic’ bets per year ($10M+, <48 months, matching: 1 innovation:1 gov customer :2 private)

WHY: Growing importance of private R&D Contracting of defense industrial base China’s technological Rise

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WHY?

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Societal Trends

Need to LEVERAGE private R&D to combat China’s technological Rise

DoD no longer majority source of

R&D funding

Contraction of top-tier of US Security

Industrial Base

Provide for US global technological and

economic influence

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Why? (1/3)

Need to use AF funds to ‘leverage’ private funds

Private$300B

DoD$60B

2016 R&D Funding

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Why? (2/3)

Reinforce US technological and economic influence around the globe

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Why? (3/3)

Catalyze growth of new 'dual-use unicorns’

$1B+

$1B+Startup ‘B’

Startup ‘A’

New Acquisition Strategy: Scaling a fast growing technology company by leveraging private R&D

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HOW?

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Phase I Pitch Day

Award and Pay Same Day

Small Bets (~$50K)6-7 March, 2019

Times Square, NYC

Award and Pay Same Day

Apply online15 slides5 pages

3 rounds per yearFeb, Jun, Oct

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Phase II PEO Pitch Days

Pitch Air Force Customers Live

Medium Bets (~$1M)November + DecemberCA, OH, FL, MA, DC1:1 Private Matching

2:1 Gov Matching

Space Pitch Day w/ Elon Musk

Apply online15 slides15 pages

100 Second Video3 rounds per year

Feb, Jun, Oct

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AF Pitch Bowl

Scale the very best prototypes to programs of record

Large Bets ($12M+)March 2020Austin, TX

1:1:2 Matching

Apply online50 pages

SYSML digital engineering docsRequired gov AND private matching

1 round per yearOct-Feb

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AF Ventures + Pitch Days

From first contact to program of record…

Small Bets (~$50K)6-7 March, 2019

Times Square, NYCPhase I Pitch Day

Medium Bets (~$1M)5-6 November, 2019San Francisco, CAPhase II Pitch Day

Large Bets ($10M+)10-14 March, 2020

Austin, TX‘Strategic SBIR Awards’

Program of Record

AFWERX ‘Front Door’

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Results since August 2018

The USAF is building the capability to leverage private funds

$350M+ Private Funds $100M+ non-SBIR Funds $200M+ SBIR funds

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Some Tactical Details

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How to coordinate all the Stakeholders?

We do NOT play matchmaker

• Competition for SBIR resources (for both companies AND government orgs)

• Goal is to drive to strategic capabilities and growth in companies

• Key is coordination between AQ, End-user, Companies, Investors

Acquisitions

Operators

Companies

Investors

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AF Ventures = Operators + Acquisitions

Volunteer Venture Liaisons at every MAJCOM, PEO and Center

MAJCOM ‘Venture Liaisons’

[email protected]@afwerx.af.milMAJCOM.PACAF.Ventures@afwerx.af.milMAJCOM.USAFEAFAFRICA.Ventures@afwerx.af.milMAJCOM.AFMC.Ventures@afwerx.af.milMAJCOM.AFRC.Ventures@afwerx.af.milMAJCOM.ANG.Ventures@afwerx.af.milMAJCOM.AFNORTH.Ventures@afwerx.af.milMAJCOM.AFGSC.Ventures@afwerx.af.milMAJCOM.AETC.Ventures@[email protected]

PEO ‘Venture Liaisons’[email protected]@afwerx.af.milPEO.SOF_ISR.Ventures@[email protected]@afwerx.af.milPEO.C3IN.Ventures@afwerx.af.milPEO.PresidentialAirlift.Ventures@[email protected]@afwerx.af.milPEO.ACS.Ventures@afwerx.af.milPEO.FighterBomber.Ventures@afwerx.af.milPEO.Tankers.Ventures@[email protected]@afwerx.af.milPEO.Space [email protected]@afwerx.af.milPEO.StrategicSystems.Ventures@[email protected]@afwerx.af.mil

Center ‘Venture Liaisons’[email protected]@afwerx.af.milCenter.AFLCMC.Ventures@afwerx.af.milCenter.AFTC.Ventures@afwerx.af.milCenter.AFRL.Ventures@[email protected]

AFWERX (A8) SAF/AQ SBIRAFWIC (A5)

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450 contracts, $140M, 12 days

Defense Innovation at Scale

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Innovation on the ‘Back-end’ of defense

Intense Team-Based Paperwork

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We love to learn from others

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Get in touch

Happy to share everything, would love to learn what we could do better

Chris Benson —> [email protected] / linkedin.com/in/christopherbenson7/ Team Org Box —> [email protected] Coming soon: https://www.afwerx.af.mil/frontdoor.html

Companies can apply to the next round: Links and templates live here starting 10 December: https://www.afwerx.af.mil/sbir.html Closes 12 February 8PM ET


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