fostering the startup community in reno-tahoe, presented by eric madison
TRANSCRIPT
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Fostering the Startup
Community in Reno-Tahoe
Eric D. MadisonExecutive [email protected]@ericmadison@CUBEatMidtown
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What is an Entrepreneur?
“Someone who creates and builds a new way of doing business with an unreasonable expectation of success.”
Eric D. Madison
“A person who jumps out of a plane and builds the parachute on the way down.”
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We are not “Little Vegas” anymore!
Top Reno-Tahoe Economic Issues
No Snow = No Winter Sports
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•Economy is getting Stronger
•Bay Area is getting more Expensive & Less Productive• Smart Companies and People are looking for a better quality of life• Reno-Tahoe is a short drive away but a million light years apart!
•Boulder and Austin are proof …“The world doesn’t revolve around Silicon Valley”
The Calm before the PERFECT STORM
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INCUBATOR
MENTORING
HELP
CAPITAL
ED
UC
AT
ION
ACCESS
ST
AR
TU
PP
RO
GR
AM
S
NETWORKING
RESOURCES
RE
SO
UR
CE
S
Entrepreneurs
Community
MA
NA
GE
ME
NT
Funding
Ve
ntu
re
EQ
UIT
Y
CLIENTS
SUPPORT
SU
CC
ES
S
TECHNOLOGY
Gra
nts
GOVERNMENT
Assistance
Accounting
No
n-P
rofi
t
Marketing
PR
PE
OP
LE
Growth
RenoTahoe
www.cubeatmidtown.com @CUBEatMidtown
NE
TW
OR
KIN
G
What is The CUBE?
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What is an Accelerator, Incubatorand a Startup Community Center?
• Accelerator:• A 2 to 6 month program focused on sorting out all the
organizational, operational and strategic difficulties that might face a business. The outcome of an accelerator program is being investor ready.
• Incubator: • A 6 month to 3 year program focusing on mentoring, supporting
and nurturing the business from inception through adolescence to self-sustainable adulthood.
• Startup Community Center:• A place where any Entrepreneur can come to come to gain the
knowledge to turn a good idea into a great company• Education• Networking
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•90% - Percentage of Startup Companies that Fail
•60% - Percentage that Fail after an Accelerator or Incubator Program
• Accelerator Programs in the US: >300• Incubators in the US: >1,300
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To help foster the creation, development and growth of new businesses in Reno-Tahoe a by providing our clients and the community access to a robust ecosystem of quality human and capital resources.
We are committed to providing entrepreneurs with a nurturing, professional environment where early-stage companies can grow, prosper and graduate to become successful self-sustainable businesses.
What is The CUBE?
Our Mission
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What is The CUBE?
The CUBE will be a premier innovative business accelerator, incubator and startup community center that provides high quality support to Reno-Tahoe Entrepreneurs and Investors.
To our Entrepreneurs we will provide:• High-Quality Mentoring & Advice• Community Oriented Co-Working Space• A Network of Qualified Early-Stage Investors & Financing Sources• Access to Quality Resources including Product Development, Technology,
Marketing, PR, Finance, HR, Accounting and Business Development To our Investor Network we will provide:
• Qualified Fundable Deal Flow• Due Diligence Assistance• Help Recruiting Qualified Management & Advisors
To the Community we will provide:• A Collaborative Ecosystem for Entrepreneurial Development• High-Quality Educations Services (Classes, Seminars and Events)• Affordable Meeting Space
Vision
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Core Competencies
What is The CUBE?
• Relationships:• We are committed to developing long-term relationships with
entrepreneurs, the media, investors, government agencies, public/private institutions, other accelerators & incubators and third-party service providers and building confidence and trust with these entities.
• Expertise:• We bring the highest level of expertise to our clients, partners and
the community. Our staff and network is comprised of experts in various industries, technologies and functional areas.
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Client Onboarding Process
ValidationPeriod
14 Days
Accelerator Program
60 Days
Incubator Program
18-24 Months
• Completed Business Plan?• Defined Product?• Defined Market (TAM & SAM)?• Defined Customer?• Investor Deck & 1-Pager?• Able to Pay?
Virtual Client Physical or Virtual Client
• Draft Business Plan?• Coachable Founders?
• Robust Business Plan?• Product Meeting Market Need?• Go-To-Market Plan?• Customer Support Plan? • Customer Traction?
• Generating Revenue?
Phase 1Pre Product Launch
Phase 2 Post Product Launch
• Sustainability Plan
ProgramGraduation
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Education
CUBE Programs
Idea Validation
• Acquisition• Franchising• IPO
Starting a Business 101
• Market Analysis• Customer Validation• Pitch Camps
• Funding Options• Boot Strapping• Angel• Venture Capital• Crowdfunding• Private Equity
• IP Protection• Sales Process• Marketing
• Managing Growth
• Finance Mgmt
Lunch n’ Learns - Workshops - Labs – Panel Discussions – Speaker Series