keith mcgreggor, phd

&

Keith McGreggor, PhDProfessor of the Practice, College of Computing

Associate Director, GVU CenterDirector, VentureLab

Executive Director and Lead Instructor, I-Corps South

We work with faculty and students to create startups based on

Georgia Tech research using evidence-based

entrepreneurship.

ideas/inventions reviewed/year 500+

active projects / startups 300+

companies created 250+

total of investments $1.8B+

#5 university-based incubator in the US

$1B in capital activity

103 companies formed

since 2013

Structure & Organization


academic researcharchitecture

computing

engineering

liberal arts

science

business

EI2

GTRI

GTRC

IRCs

VentureLab

ATDC

Licensing

functional lean agile


3 verbs 10 staff experiments

Educate Curate Create


Educate

Educate

I-Corps Node I-Corps Site Workshops

Classes

Curate

Curate

Workshops Competitions Invited Talks

Relationships Walk the Halls

Create

fully aligned with

50+ GT Teams 5% of all I-Corps teams

SmartMenu • Videogrammetric Roof Surveying • BISmark • Ratrix • TabAccess • Tarantula • Info Services for Bio Inspired Design • Vintinura Imaging • ImmondoTech • Lock Screen Query (LSQ) • MAVRIC Semiconductor • FemtoLaser • VideoCache • EnerCage • BetterCane • SwarmRobots • Data COOL • Ultra-Low Power Chemical Vapor Nanosensor • Prosumer Grid • CameRad Technologies • WorkReadyGrad* • HealthReach* • IC3D • CheckDroid • Building Information Modeling Tracking System for Real-Time Utilization of Construction Sites • Organs-On-A-Chip • Surentez • Modular Microscale Absorption Heat Pumps • Mechanix • Cognitive Assist • Diligent Droids • Stem Cell Plinko*

the VentureLab Way

T

product/market fit ✓

CD CV CC G

startup thesis ✓

the VentureLab Way aligns fully with evidence-based entrepreneurship the methodology used in NSF I-Corps

Startup CompanyResearch

the VentureLab Way stage 0 : Research & Landscape

SH T


CD CV CC G

startup thesis ✓

determine whether the arriving opportunity already has a startup thesis or product/market fit

the VentureLab Way stage 1 : Thesis

SH T


CD CV CC G

startup thesis ✓

What idea or technology is the startup based upon? What is the startup thesis?

the VentureLab Way stage 2 : Discovery

SH T


CV CC G

startup thesis ✓

Who is the customer? What is the value proposition?

CD

the VentureLab Way stage 3 : Validation

SH T


CD CC G

startup thesis ✓

What’s the proposed solution? Does the customer want it?

Is there evidence that the sales process will work? What does the rest of the canvas look like?

Is the business viable?

CV

the VentureLab Way stage 4 : Creation

SH T


CD CV G

startup thesis ✓

Does the company’s go-to-market strategy (positioning, launch, demand creation, objectives)

match the market type it is entering?

CC

the VentureLab Way stage 5 : Build & Grow

SH T


CD CV CC

startup thesis ✓

Cross the chasm (if there is one). Build (org./mgmt./culture) to support scale.

Can the structure sustain learning/discovery? Is the company mission-centric?

G

Five Risks

Biggest Startup Risk Factors

IP RiskFinancial Risk

Technology RiskMarket RiskPeople Risk

T

productmarket fit

CD CV CC G

startup thesis

Startup CompanyResearch

sales validation

scale

provisional utility

seed VC

license

I-Corps SBIR p1 SBIR p2

mvp prototype production

GRA p1 GRA p2

Commercialization Process

researchers startupteam

launch ceo managementteam

IP

Financial

Technology

Market

People

Previously in VentureLab

the VentureLab Way

T


CD CV CC G

startup thesis ✓

296 active opportunities as of November 2017

63 131 57 28 8 9

opportunities per stage

the VentureLab Way

T CD CV CC G

the process integrates with the existing tech transfer, entrepreneurial, and commercialization efforts

S

L

ATDC accelerate / signature

Licensing

? more research

Flashpoint

I-Corps/CreateXEngage

Summer, 2011

1000+ teams

the premiere federal program for startups

being adopted by all agencies & all R1 universities

Customer Development

Customer Discovery

Customer Validation

? ✓

Customer Creation

Company Building

Startup Company

What is I-Corps?

lean startupcustomer discovery

evidence-based entrepreneurship

business model canvaslean launchpad

What is I-Corps Really All About?

What is I-Corps?

Teaching Entrepreneurship

What is I-Corps?

Entrepreneurship&

Commercialization

What is I-Corps?

Entrepreneurial Researchers&

Research-Based Startups

the systematic creation of

Why?

Entrepreneurial Researchersentrepreneurial researchers

translate research into innovation instills entrepreneurial know-how

inspire others to do the same

Why?

Research-based Startupsentrepreneurial researchers

create good jobs increase local / state economies


What I-Corps Does

entrepreneurial researchers translate research into innovation instills entrepreneurial know-how

create good jobs increase local / state economies


We’ve had I-Corps at GT since 2011 …

… what have we done?

What have we done?

We’ve changed how we do startups

ATDC Customer Discovery

ATDC Statewide Customer Discovery

Athens - Year Round

Augusta - Spring, Fall

Savannah - Fall

Customer Discovery Bootcamps in 2017

2017 portfolio of companies

I-Corps Site

What have we done?

We’ve taught and defined it nationally

16 cohorts250+ NSF teams (¼ of all teams)

Set national curriculum50+ teams

20 national instructors

What have we done?

We’ve spread it locally and regionally

30+ cohorts7 universities6 weeks & ongoing500+ teams1500+ entrepreneurs

2012 to 2016

New Sites: • University of South Carolina • Georgia Institute of Technology

Southeast I-Corps Sites

I-Corps South Regionals

Entryway for non-NSF lineage teams throughout region into I-Corps

Taught at universities across the southeast

Lean LaunchPad

I-Corps South Instructor Academy

National I-Corps Training

I-Corps South Instructor Academy

TheoryHeavy

ImplementationHeavy

Designed to equip Sites with tactics from national I-Corps Teams Taught with cohort to see in-classroom examples w/ one day intro

Combines theory of philosophy with tactics for classroom management

three cohorts 2016-2017

from idea to deployable solution customer stakeholder discovery

MissionModelCanvasForFederalAgencies-Key Partners KeyActivities ValuePropositions Buy-In CustomerSegments

KeyResources Deployment

CostStructure Mission Value

http://www.businessmodelgeneration.com

beyond the Southeast

two cohorts 2014, 2016

two upcoming cohorts in 2018

CREATE-X StartupLab at

potential expansion to Berlin, Edinburgh, Salerno, Barcelona…

five cohorts 2015-2017

AcollaborationbetweenGrupoGuayacán,Inc.,I-CorpsSouthNodeandEI2EconomicDevelopmentLab.

Launchedin2015.

5cohortscompleted.

FirstversionofthenationalNSFI-CorpsprogramopenedtoCommunityteamsandCorporateSpin-offsinadditiontoUniversityteams.

GeorgiaTechLeanEntrepreneurshipEcosystemModeldevelopmentwiththeobjectivetobuildtheisland’sinnovativeandentrepreneurialcapacity.

Evidenced-basedEntrepreneurshipTrainingforUniversityFaculty

AcollaborationbetweenEcharPa’Lante,I-CorpsSouthNodeandEI2EconomicDevelopmentLab.

SeriesofannualtrainingsessionsdesignedforUniversityFaculty.

Launchedin2015.

400+Facultytrained.

Goalistotrain800universityprofessorsby2020.

PuertoRicoPartnersUNIVERSITIES

ENTREPRENEURIALSUPPORTORGANIZATIONS

GOVERNMENTORGANIZATIONS

OTHERPARTNERORGANIZATIONS

BIG IMPACTS

1000+ startups hundreds of faculty

thousands of entrepreneurs

Big Impacts

almost $9M in funding

Big Impacts

fundamental change in how all of GT approaches

entrepreneurship & commercialization

Big Impacts

venturelab.gatech.edu

@venturelab / @keithmcgreggor

keith @ venturelab.gatech.edu

Centergy Building, Suite 320

keith mcgreggor, phd

Documents