New Venture Competition 2018 - UCSB's Technology ... Info Session... · • Business name • Business tag line (if you have one) • Logo • Inspiration for your product / business

NewVentureCompetition2018

ApplyingtotheNewVentureFair

&Misc.OtherStuff

2018

UC Santa BarbaraNVC

Agenda

• Announcements

• NewVentureFair- ApplicationDeliverables

• Resources

• WinterQuarterScheduleofEvents

• BusinessModelBasics

• Mix

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2018

UC Santa BarbaraNVC

Announcements

2018

UC Santa BarbaraNVC

Pickupyourtrash!

RepositionChairs

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2018

UC Santa BarbaraNVC

HeretoHelpDaveAdornetto• TMPLecturerandEntrepreneurshipProgramDirector• Phelps1314• [email protected]• NVCOfficeHours:Mon2:30to4:00PMandbyappointment

SarahHilliard• EntrepreneurshipAssociate• Phelps1333• [email protected]

*SlidesarepostedonTMPWebsite(“beyondtheclassroom”page)

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2018

UC Santa BarbaraNVC

ImportantDates

NewVentureFair• WednesdayMay2,2018• CorwinPavilion• Plantobeavailable3:30PMto8PM(mainevent5:00to8:00PM)

NewVentureFinals• ThursdayMay24,2018• CorwinPavilion• Plantobeavailable1:30PMto7PM(mainevent3:00to6:30PM)

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2018

UC Santa BarbaraNVC

ProvideSarahyouremailaddressifyouarenotalreadyontheNVCmailinglist

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EmailContactInformation 2018

UC Santa BarbaraNVC

• Ifyoumeet,beontime(5minutesearly)

• Beprepared– Preparequestionsinadvance– Provideprogressupdates

• Don’texpectamentortospendtheirtimewithyou,ifyoudon’tengagethem

• Taketheinitiativetoprovide/obtaincontactinformation

• Followthrough:ifyousayyouaregoingtoconnect– doit– Evenifitsjusttopostponeordelayameeting

• Always sendanoteofthankyou

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SuggestionsforMentorInteractions 2018

UC Santa BarbaraNVC

NewVentureFairApplicationDeliverables

2018

UC Santa BarbaraNVC

ApplyingfortheNewVentureFair

• Prepare/submitapplicationbySun,March25,2018– Noexceptions

• TextsectionsofapplicationinMSWordorPDFformat– 1.5spaced

• Preparefinancialprojectionsonspreadsheet– Summarydata(tables/charts)inPDFformat– Attachcompletespreadsheetfileforsupport

2018

UC Santa BarbaraNVC

ApplicationContents- 4Components

1. SummaryInformation(1page)

2. ExecutiveSummaryofBusiness(3pagesmax,1.5spaced,12+font)

3. DraftofBusinessModelCanvas(1page)

4. FinancialProjections• Summary(1page)• Detail(attachspreadsheetfile)

ApplyingfortheNewVentureFair 2018

UC Santa BarbaraNVC

1.SummaryInformation• Businessname

• Businesstagline(ifyouhaveone)

• Logo

• Inspirationforyourproduct/businessidea

• Teambios– Names,pictures,nationality/ethnicity

– Majorareaofstudy,level(U1,U2,U3,U4,GM,GP)

– Degreesearned,beingpursued

– Anythingelseyou’dlikeustoknowaboutyou

2018

UC Santa BarbaraNVC

2.ExecutiveSummaryoftheBusiness• Overviewofthebusiness/product/service

• Problembeingsolved

• Valueproposition(whyyourcustomerswillpayforit)

• Benefitsofyourproduct,andhowitdiffersfromothers

• Revenuemodel - howyourbusinessmakesmoney– Pricing,Upfrontvs.RecurringRevenue,ProductSale,Subscription,etc.

• Howtheproductworks(i.e.thetechnology),ifappropriate

• Themarketyourbusiness/productserves– i.e.marketsize,marketgrowthrates,competition,etc…

• Financialhighlights– 3-yearrevenue,productcostandgrossmarginprojections

2018

UC Santa BarbaraNVC

3.BusinessModelCanvas• Includeadraft ofyourBusinessModelCanvas

• What’saBusinessModelCanvas?– Aleanstartuptemplatefordevelopingabusinessmodel

• Criticalelements:– Valueproposition– Customers– Revenuemodel/coststructure– Infrastructure– Finances

• Helpstoalignactivitiesbyillustratingpotentialtrade-offs

2018

UC Santa BarbaraNVC

LeanLaunch:TheBusinessModelCanvas

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UC Santa BarbaraNVC

4.FinancialProjections• Marketsize

– Total,servable,targetmarkets– Unitsanddollars

• Proforma:Revenue,COGS,GrossMarginprojections– Threeyears– Marketpenetrationassumptions,projectedunitsales,sellingprice– Productcostsrelatedtoyoursalesassumptions

• Optional:3-yearPro-FormaIncomeStatement– SummaryRevenue,COGSandOperatingCostprojections

• Templates/formatsprovidedatupcomingworkshops

2018

UC Santa BarbaraNVC

Resources

2018

UC Santa BarbaraNVC

Resources• NVCPrepCourses(TMP148/268,TMP149/269)

• NVCSeminars/Workshops– TheBusinessModelCanvas– MarketSizing– DevelopingFinancialProjections– Legal:BusinessFormation,IPStrategies– DevelopinganInvestorPitch

• Mentors

• MVPGrant– Upto$300fordevelopmentofyourMinimumViableProduct

2018

UC Santa BarbaraNVC

WinterQuarterEvents

2018

UC Santa BarbaraNVC

UpcomingWinterQuarterEvents

PrimaryObjectivesforWinterQuarter:

• Formandfinalizeteams

• Developproduct/idea

• Workwithmentors

• Developbusinessmodel

• Refine“ElevatorPitch”

• ApplyfortheNewVentureFair

WinterQuarterSchedule

Date Time Event Location

TBD 6:00PM Workshop: BusinessModelCanvas TBD

TBD 6:00PM Workshop:FinancialForecasting TBD

TBD 6:00PM Workshop:MarketSizing TBD

TBD 6:00PM Legal&IP TBD

8Mar 6:00PMNewVentureFair

Requirementsreview&MentorMixer

ESB1001

25Mar 5:00PM NewVentureFairApplicationsDue Email

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2018

UC Santa BarbaraNVC

AftertheCompetition

2018

UC Santa BarbaraNVC

1,500sq.ft.,Co-Working&MeetingSpace

GarageFloor- MosherAlumniHouse

AvailabletoqualifiedUCSBstudents,alumni,affiliates

The “Garage” Startup Incubator

AftertheCompetition

AftertheCompetition

• Homeofthe“G2”SummerLaunchpad

• Mentor/AlumniAssistanceNetwork

• AngelInvestorContacts

• CloseProximitytoKeyCampusResources:– Makerspace– Developmentlabs

The “Garage” Startup Incubator

Summerprogramtofacilitatetransitionfromacademicenvironmentto

therealworld

Focusshiftsfromideationandbusinessmodeldevelopment…

to

...productcommercializationandbusinesslaunch

“G2” Summer Launchpad

BusinessModelBasics

2018

UC Santa BarbaraNVC

LeanLaunch:TheBusinessModelCanvas

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UC Santa BarbaraNVC

BusinessModelBasics• ValueProposition- thevaluedeliveredtoyourcustomer(thereasontheypay)

– Lowcost,convenience,advancedfeatures– Unmetmarketneed/want

• Customer– Whoisyouridentifiedcustomer?– Whatproduct/servicedotheywant/aretheywillingtopayfor?– Isthereaninfluencerinadditiontoyourpayingcustomer?

• Product/MarketFit– Theproductthatdeliverstheoptimalvaluetoyouridealcustomer(s)– Subjecttomultiplepivots!

• Revenuemodel/streams– Howdoesyourbusiness/productmakemoney?– Productsales,upfrontvs.recurring,hardwarevs.disposable,softwarelicensing,

advertising,etc.

2018

UC Santa BarbaraNVC

BusinessModelBasics– Example:Uber• ThevaluedeliveredtoUber’scustomer

– Lowercostthanotheron-demandtransportationalternatives– Convenience

• Whenyouwantit,whereyouwantit• Easypay w/optionaltipping

– Features• ETAdata,variousvehiclesizes

– Unmetmarketneed/want:commonfrustrationswithtaxis

• Customer– Smartphoneusers,techsavvy,costconscious,sharers– Advertisers– Influencer:Sameasbuyerinthiscase

• Revenuemodel/steams– Prepaymentsfromriders– Advertisingincome

2018

UC Santa BarbaraNVC

Let’sMixFocusonBusinessModelExplaintomentors,your:1. Idea/Product2. ValueProposition3. Customer/Customerdiscoveryprocess4. RevenueModel

2018

UC Santa BarbaraNVC

Pickupyourtrash!

RepositionChairs

30

2018

UC Santa BarbaraNVC