UCI NEW VENTURE COMPETITION 2018 #UCINewVenture Powered by: UCI NEW VENTURE COMPETITION 2018 Workshop #4 : Track Tips & Tricks April 2, 2018 Larry Wilk Dan Jenkins

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#UCINewVenture

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UCI NEW VENTURE COMPETITION 2018Workshop #4 : Track Tips &

Tricks

April 2, 2018

Larry WilkDan Jenkins

Powered by the Beall Center for Innovation and Entrepreneurship and UCI Applied Innovation

Agenda§ 5:30 - 5:45 : Congratulations – Now What ? - Larry

§ 5:45 – 6:00 : Developing Your Pitch Deck- Dan

§ 6:00 - 6:15 : How to Win - Dan

§ 6:15 - 7:00 : Track Tips & Tricks – Breakout Sessions


THANKS TO OUR SPONSORS

Thanks to our Boeing for sponsoring workshops related to business and entrepreneurial skills


COMPETITION STRUCTURE


2018 Concept Paper Finalists§ Teams submitted 98 concept papers

§ 30 Life Sciences§ 25 Consumer Products § 16 Consumer Services § 15 Business Products and Services § 12 Social Enterprise

Teams moving to the next round:- 22 Life Sciences- 12 Consumer Products- 12 Consumer Services- 13 Business Products and Services- 12 Social Enterprise

§ 25 of above Tech Surge


2018 Key Dates§ APRIL 2 > WORKSHOP #4: “Track Tips and Tricks”

§ APRIL 17 > WORKSHOP #5: “How to Build a Financial Model”

§ MAY 1 > WORKSHOP #6: “How to Build a Pitch Deck”

§ MAY 8 > WORKSHOP #7: “How to Pitch and Deal with Q&A”

§ MAY 18TH > NVC COMPETITION & AWARDS CEREMONY


PHASE 2: Pitch Deck

Problem/pain you’re addressing

Solution/value proposition

Clearly-defined target market

Market size & validation

Clear competitive edge

How you make money!

Evidence to make it believable

Team capability & completeness

$$$


MAY 18TH

Presentation Details

Team PresentationQ&A

Judges’ Decision Write Up / Transition

12 Minutes8 Minutes5 Minutes


From Concept Paper to Pitch Deck

10

The Value Proposition CanvasThe Mission Model Canvas

designed by: Strategyzer AG & Steve BlankThe makers of Business Model Generation and Strategyzer

This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit:http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

strategyzer.com

Mission Achievement/Impact Factors

BeneficiariesValue PropositionsKey ActivitiesKey Partners

Mission Budget/Cost

Buy-in & Support

Designed by: Date: Version:Mission/Problem Description:

DeploymentKey Resources

11

12

The Business Model Canvas

designed by: Strategyzer AGThe makers of Business Model Generation and Strategyzer


strategyzer.com

Revenue Streams

Customer SegmentsValue PropositionsKey ActivitiesKey Partners

Cost Structure

Customer Relationships

Designed by: Date: Version:Designed for:

ChannelsKey Resources

Customer

Step Start-Up

Value Proposition What are you offering? What are the Gains ? What are the Pains?What is the Job Being Done ?Do they Care ?

Customer Segments Which customers will you serve?Primary vs. secondary?What is market potential?Where are customers located?

Customer Relationships What relationships with what segments?Personal? Automated?Acquisitive? Retentive ?

Customer Channels How does each segment want to be reached?Through which interaction points?

13

14

The Value Proposition Canvas

Gain Creators

Pain Relievers Pains

Gains

Products& Services

CustomerJob(s)

Value Proposition Customer Segment

copyright: Strategyzer AGThe makers of Business Model Generation and Strategyzer

The Value Proposition Canvas

strategyzer.com

15




strategyzer.com

Revenue Streams


Cost Structure




Step Start-Up

Key Activities Which activities do you need to perform well in your business model?What is crucial? Proprietary ?What can be added later?

Key Resources Which resources underpin your business model (staff , R&D ,technology, facilities) ?Which assets are essential ?

Key Partnerships Which partners and suppliers leverage your model?Who do you need to rely on?What is risk profile?

16

Business Design

17




strategyzer.com

Revenue Streams


Cost Structure




Financial Model - APRIL 17TH WORKSHOP

Step Start-Up

Revenue Streams What are customers really willing to pay for?What is pricing model?Transactional or recurring revenues ?Market size and potential ?

Cost Structure What are direct costs ? Indirect costs?Overhead ? Fixed vs. variable ? Development vs. on-goingWhich are key elements ?What is variability/risk?

18

19

The Value Proposition CanvasThe Mission Model Canvas

designed by: Strategyzer AG & Steve BlankThe makers of Business Model Generation and Strategyzer


strategyzer.com

Mission Achievement/Impact Factors

BeneficiariesValue PropositionsKey ActivitiesKey Partners

Mission Budget/Cost

Buy-in & Support

Designed by: Date: Version:Mission/Problem Description:

DeploymentKey Resources

20

Value Proposition – Elevator Version

Based on the article by Steve Blank. © 2017 Harvard Business School Publishing. All rights reserved. 21

The Business Model CanvasValidate the Hypothesis

Customer Validation

22


Talk to a Variety of Customers

24




strategyzer.com

Revenue Streams


Cost Structure




Talk to a Variety of Partners , Channel Participants

25

Great Value Propositions Checklist

Learning Card

We believed thatstep 1: hypothesis

Insight Name

Person Responsible

Date of Learning

From that we learned thatstep 3: learnings and insights

We observedstep 2: observation

Therefore, we willstep 4: decisions and actions

Data Reliability:

Action Required:

The makers of Business Model Generation and StrategyzerCopyright Strategyzer AG

Hypothesis

ValidationOrPivot

Business Model Canvas à Pitch Deck

$$$$$$


Developing Your Pitch Deck

Dan Jenkins

a pitchdeck…

� what? engaging & compelling story� why? get the next meeting w/ investors� when? during fundraising� how?

• selling the “VISION” (1 person)• highlighting key business elements• serving it up with energy & PASSION!

people like a good story!

� length: 10–12 slides max (not including cover slide)� background:

a) “white” (black or very light/dark neutral OK)b) simple & uncluttered (5 bullets max/slide; ideally 3)

� words: 20 max per slide > use images/charts� palette: 2 contrasting colors max + gray/black/white� fonts: 30-pt min > 2 max > sans serif >

normal/bold� Use consistent formatting throughout!

the “best” format

w...h...y...?

because you don’t want this…

resist the temptation to include everything!

x

the desired goal:

so…what slides do I need?

slide #0: cover slide

cool, attention

getting logo

Simple, intriguing, memorable…“hook them at hello”

Gardening made simple

We envision a World where everyone with a window, balcony or backyard

will grow their own food

dark gray + orange greens

thought provoking taglines

vision

plainback

ground

slide #1: problem / pain

Let the storytelling begin!

3E 8 A6 F 7E B)

2H E F B B F FHEI

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2 E

1 B E F

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1 5?A

1 0B

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47% Have time

4 A

Remember when…

•  Your imagination ran wild!

•  You dreamt of faraway lands!

•  You created magical creatures!

Too bad they are gone forever surveyed evidence!

the problem

the problem

physical evidence!

draw a conclusion

connect with

audience

slide #2: market opportunity

realistic & substantiated – it’s not $200 Billion

cite credible sources!

market trends?

TAM SAM SOM

why you

now?

slide #3: solution

in the end, it’s always about “better, faster, cheaper”

visual yet simple 1-2-3

simple

Te

techie yet few words

an appeal to

emotions

designed for

Grandma!

slide #4: team

“We are the right team to execute this plan!”

busy yet easy to digest

pictures humanize

would use as

slide #1

logos

experience &

successes

key milestones

slide #5: traction

“We’ve accomplished ‘X’ with only bootstrapping!”

# of clients

revenuestrategic partnerships

slide #6: competition

There is always competition: if just the status quo!

strengths advantages

barriers

affordable tamper resistant NO subscription

NO charging B2B model

purchase onsite

competition

6

$10

$179 $149 $175

$4.95/mo $10/mo $9.99/mo

dress kid in

bright clothing

$40 $15

Confidential and Proprietary © 2016 Element SRC All rights reserved.

where do you fit?

Who are the

players?

slide #7: revenue model

How do you make money – that’ all investors care about!

pricingfee/ % /sub

as simple as it gets

CAC ?LTV ?

slide #8: financial projections

Reasonable even if overstated by 2x, or be shot down!

CAC ?LTV ?

realistic supported

assumptions

1-5% market share

realistic

point out key metrics

slide #9: capital raise & uses

How is investor money being put to work?

noexplicit use of funds!

why now for

urgencyterms of note

slide #10: closing slide

“Thank You!” + “Questions” + “Next steps?”

usually stays on screen

add phone &

email too

reinforce key

messages


“How to Win”

FOCUS! FOCUS! FOCUS!

final thoughts:Ø Everyone (trust me) has a different opinion about constructing

pitchdecks: the # of slides, content, order and look/feelØ Cover only points critical to your businessØ It’s better to be a master at one thing than a participant in manyØ Focus on target market’s primary problemØ Develop quickly and cheaply, then iterate, iterate,

iterate…pivoting only when necessaryØ There are lots of great ideas, but execution is everythingØ In the end, all that matters is what the prospect/customer thinks!


� Compelling & Believable� Clear & Concise� Team Composition & Dynamics� Great Presentation & Q&A� Well-Rehearsed & On-Time

Winning Team Tips

Updtae


Track Tips & Tricks


Breakout Sessions

Bob SalemMatt Zimmer

Location

Ahmed Zobi

Location

Howard Mirowitz

Location

Simon Loo

Location

Chad Trainor

Location


2018 Key Dates§ APRIL 2 > WORKSHOP #4: “Track Tips and Tricks”

§ APRIL 17 > WORKSHOP #5: “How to Build a Financial Model”

§ MAY 1 > WORKSHOP #6: “How to Build a Pitch Deck”

§ MAY 8 > WORKSHOP #7: “How to Pitch and Deal with Q&A”

§ MAY 18TH > NVC COMPETITION & AWARDS CEREMONY


Thank You & Good Luck

UCI NEW VENTURE COMPETITION 2018 #UCINewVenture Powered by: UCI NEW VENTURE COMPETITION 2018 Workshop #4 : Track Tips & Tricks April 2, 2018 Larry Wilk Dan Jenkins

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