BURLINGTON GENERATOR Accelerating entrepreneurship at the intersection of

art, science and technology.

MISSION & VISION• Generator provides tools, expertise, education and opportunity

that enable all members of our community to create, collaborate, and to make their ideas reality.

• Generator is an idea translation laboratory: we turn ideas into new products and support new ventures around those products. Our approach is unique for the breadth of skills and businesses that we support and the inclusive, cross-disciplinary and collaborative culture that we breed.

• Generator’s accelerator initiative is led by founding Chairman of the Board Michael Metz who brings demonstrable private sector success and Director Lars Hasselblad Torres who has built innovation pipelines in the public sector and research university settings. We are support by a 14-member board, 3 part-time staff and 27 volunteers.

MARKET OPPORTUNITY• Generator’s geographic market is concentrated in the greater

Burlington region (Chittenden, Essex and Addison counties) with a catchment area of approximately 30 miles radius.

• Generator serves recent college graduates, independent designers and fabricators, moonlighters, and mid-career professionals looking to launch their own enterprises. New ventures are built around products developed or produced on site using Generator’s shared facilities and equipment.

• Generator accelerator will principally serve companies founded by our members that demonstrate a readiness for accelerated growth and movement along the venture development pipeline.

• Generator is unique for our hybrid “accelerator within a makerspace” model. There is presently no accelerator program in Vermont targeted toward arts, design and consumer product innovation.

COMMUNITY PROFILEThe Generator community is composed of nearly 150 members of the following types:

• 49 Exchange members - participating colleges, makerspaces• 31 General members - daily access to all equipment, facilities• 28 Volunteers - work in exchange for reduce member fees• 19 Affiliate members - modest fee for directory listing, paygo use• 17 Studio residents - private studio work space, 24 hour access

A recent survey of members found that:

• 65 percent of respondents are men, 35 percent are women• 41 percent are 25 to 44 years of age; 30 percent are 18-24• 44 percent of member households earn less than $36k per year;

23 percent earn between $36-86k; 30 percent earn $86k and more• More than 50 percent of respondents work a full-time job• 30 percent of respondents own and manage a small business

ACCELERATOR MODEL• Generator members and new ventures will apply to be a part

of Generator’s accelerator program and ranked against three criteria: 1) the scope and scale of the opportunity they are addressing, 2) the context or market for their solution, and 3) benefits of the solution or product itself.

• Accepted new ventures receive: 1) free membership for nine months during which they are assigned a mentor, 2) are assigned staged tasks designed to prepare them for investment-readiness, and 3) are surrounded by support mechanisms to hone their company structure, their business plan, and their go-to-market strategy.

• At the end of their nine month acceleration period new ventures: 1) are assessed for progress, 2) have the potential to receive an additional three months, and 3) are entered into the LaunchVT business plan competition.

• Generator today is a community of nearly 150 designers, students, engineers, craftsmen, jewelers and artists.By December 2015 increased to > 200

• Generator members pursuing entrepreneurial endeavors today represent about 10 percent of our community.By December 2015 increased to 20 percent

• Generator entrepreneurs who have incorporated a business in Vermont account for about 5 percent of our community.By December 2015 increased to 10 percent

• By the end of 2015 Generator will have graduated half of our current new ventures (between three and four companies).By December 2016 increased to 8 to 10

GROWTH METRICS

BUDGET SUMMARYSBA funds toward the Generator accelerator will be used for 16 months of activity including:

• $30k to hire a part-time accelerator manager

• $10k in contracts for workshop designers, facilitators

• $5k toward general administrative costs

• $5k toward participants conference, travel, misc training fees

SBA funds will be matched with:

• $25k Generator G&A and volunteer staff contributions

• $15k in on-site event, workshop programming fees

• $10k in-kind, ongoing support from area partners

IMPLEMENTATON1. Organization / Sept to Oct 2015

Hire a part-time accelerator manager. Top priorities are:- Recruit accelerator advisory board- Translate accelerator business plan into a work plan- $75k to match venture fund and administration

2. Implementation / Nov to Dec 2015Develop annual program cycle, begin marketing, recruit mentors, and establish partnerships essential for program delivery including:- Corporate structure, incorporation- IP roadmap, patenting- Investment readiness- Go to market strategy

3. Execution / Jan to Sept 2016- Select first cohort of 3-6 acceleration-ready ventures- Host orientation and mentor match-making activities- Deliver accelerator curriculum, workshops

PARTNERSHIPS1. Corporate structure, incorporation

Draw on participating law firms and business advisors to provide a structured incorporation clinic to advise ventures on corporate structure, valuation and shares.

2. IP roadmap, patentingEngage patent attorneys and related intellectual property experts on IP stewardship and commercialization workshops

3. Investment readinessTap local investors and legal authorities on various forms of capital alternatives and pathways and implications to prepare a company for appropriate investment type and terms.

4. Go to market strategyWork with experienced entrepreneurs, investors, economic development experts and marketing professionals to work ventures through structured exercises that generate go to market strategies for products and companies.

SUCCESS METRICS1. Formation

By the end of 2016 Generator accelerator will annually support 4-6 new ventures in diverse markets, from business services to consumer products.

2. LeverageAccelerator resources will be leveraged 5:1 through local support systems including the city, non-profit, university and private sector partnerships.

3. DurabilityOf accelerator businesses, 90 percent will successfully complete their incubator year and 70 percent will make it to their third year.

4. GrowthBased on current projection data, accelerator businesses will create 15 jobs over the next 18-24 months and expand the volume of contract work by 2x