18th Annual

NewVentureCompetitionOrientation

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Agenda

1. TechnologyManagementProgramOverview

2. NewVentureCompetition(NVC)– Overview– Process(theroadtoNVC)– Rules,Guidelines&Awards– Resources

3. PanelofNVCVeterans

4. Questions

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Ifyoudidn’tregisterfortonight’ssessionmakesureyousign-inand

leaveyouremailaddress.

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HeretoHelp• DaveAdornetto

• TMPLecturer,EntrepreneurshipProgramDirector

• Phelps1314

• dadornetto@tmp.ucsb.edu

• NVCOfficeHours:Wed2to3PM

• Readyouremails!

• SarahHilliard–swhilliard13@tmp.ucsb.edu

*TheseslideswillbepostedontheTMPWebsite(“beyondtheclassroom”page)

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TechnologyManagementProgram(TMP)

Overview

InnovationProfessionalDevelopmentSkillsforCareerSuccess

BusinessSocietyEconomy

UniversityKnowledgeExploration

TMP

TechnologyManagementProgram

TMP:AUniqueEducationalProgram• Opentoallmajors

• Curriculumfocusedonbusinessfundamentalsanddevelopingprofessionalskills

• Emphasisoninnovation:Entrepreneurship&Intrapreneurship

• Experientiallearning:TMPcoursesaddressrealbusinesschallenges

• Largeandactivementornetwork:practicingprofessionals andentrepreneursintheregion

• Fastercareertrajectory upongraduation

• Employmentopportunities

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TMP- AcademicElements

Accoun&ng/Finance-Organiza&onal-Behavior-Marke&ng/Sales-Opportunity-Recogni&on-Entrepreneurship-Business-Strategy/Leadership-

ElectivesalsoofferedinSales,MarketResearch,NewProductDevelopment,ManagingOperations,Patents&IP

TMPCertificatePrograms

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MastersofTechnologyManagementAdistinctivebusinessmanagementprogram:• Oneyear,singlecohortprogram• Preparescandidatesforleadershiprolesintechfirms• CurriculumModules

– ManagingtheMarket

– ManagingtheOrganization

– ManagingtheProcess

– ManagingPeople

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TheNewVentureCompetition

Overview

USCBNewVentureCompetition(NVC)• 18th year

• University-wideparticipation

• Studentsformteams,developan idea,andbuildandvalidateabusinessmodel

• Courseworkandseminarsofferedtoprepareteamsforthecompetition

• Broadanddeepmentornetworktoassistandadviseteams

• Aseriousbusinessdevelopmentexercise!

UCSB/TMPGraduateStart-upsCompanies started via the New Venture Competition or founded by TMP alumni

PhoneHaloInc.,NVC2009Winner

• Featured on Regis & Kelly, CNBC• Popular Mechanics Editor’s Choice

Tech Award 2011• Successful Crowdfunding Campaign• Successful Series A Financing

NextEnergyTechnologies,NVC2010WinnerPlasticSolar-CellTechnologydevelopedatUCSBbyfounderCoreyHoven

Apeel Sciences,NVC2012GrandPrizeAnorganicandediblespraycoatingthatpreservesfruitsandvegetablesforlongershelf-life

Bill & Melinda Gates Foundation “Grand Challenges Exploration” Grant Recipient

Multiple rounds of venture funding

Inogen Inc.,NVCWinner2001

Inogen One:GoldMedalwinnerintheMedicalDesignExcellenceAwardscompetition

PortableoxygenconcentratorInogen One

EntrepreneursoftheYear,Ernst&Young30Under30:CoolestEntrepreneursinAmerica,Inc.Magazine

InogenThenandNow

2001

• 3UCSBundergraduates

• BusinessEconandBiology

• Aninspirationforanidea

• TMP &UCSB support

2016

• 400+employees

• PublicCo(2014IPO)

• $150M+annualrevenue

• $1B+marketvaluation

2001 Isla Vista Apartment 2003 single room behind hamburger habit Current offices in Goleta, CA and Richardson, TX

NASDAQ:INGN

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TheNewVentureCompetition

TheRoadtoNVC

NVCJourney

Ideas&Teams

Fall

Mentoring

BrainStorming

Mixers

PitchEvents Bu

sinessC

oncept

NVCJourney

Ideas&Teams

Fall

Preparation

Winter

Mentoring

LeanLaunchCourses

Seminars

BrenEco-E

Capstone

BrainStorming

Mixers

PitchEvents Bu

sinessC

oncept

Busin

essM

odel

NVCJourney

NVFair

NVC

NVCFinals

Ideas&Teams

Fall

Preparation

Winter

Compete

Spring

Mentoring

LeanLaunchCourses

Seminars

BrenEco-E

Capstone

BrainStorming

Mixers

PitchEvents Bu

sinessC

oncept

AnEight-MonthEducationalExperienceBu

sinessM

odel

2016NVCHighlights

Winter

35StudentTeams

Spring

18TeamsatNVCFair

6Finalists

Fall

300+Students

• EVMatch• Dermachill• Opal• Ingrain• OSMO• Vibe

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TheNewVentureCompetition

Rules,Guidelines&Awards

Crap!

Rules&Guidelines:TeamEligibility• UCSBstudentsmakeupmajorityoftheteam

– Idealteamsizeis3to5members– Non-studentsmustbeapprovedbyTMPfaculty(me)

• OnlyactiveUCSBstudentsareeligibleforprizes

• Priorcashfundingmustbedisclosed– Seemeifyou’veraisedorinvestedanycapital

• UseofIPrequireswrittenapprovalofitsowner

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Rules&Guidelines:EvaluationCriteria

• ProblemBeingSolved

• EleganceofSolution

• ProductDifferentiation

• ValueProposition

• BusinessModel

• MarketOpportunity

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• CompetitiveAnalysis

• “GotoMarket”Strategy

• ProductDefensibility

• Quality/DepthofTeam

• FinancialProjections

2016Awards

Total:$42.5K

Grand Prize$12,500

Sponsored by: Stradling

2nd Place $7,500

Sponsored by: UCSB MRL and Dow

3rd Place$2,500

Sponsored by: Procore, SoCal IP Law, Yardi

Citrix Impact Award$5,000

Cliff Hannel Innovation Award$5,000

Elings CNSI Award$5,000

CNSI People’s Choice Award$5,000

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TheNewVentureCompetition

Resources

NVCPrepCourses:

• NotmandatoryforNVCparticipation

• TMP 148/248– Businessmodeldevelopment&launch

• TMP149/249– Developingamarkettestedbusinessmodel

• TMP291SC– Strategiccommunications(tellingthestory)

NVCPrepCourses– WinterQuarter• TMP148/268:BusinessModelDevelopment&Launch

– Instructor:MathewStotts,Principal,TenorMarketing

– Limitedenrollment(30to40)

– AcceptancebasedonbusinessideaandNVCcommitment

– Helpfultohaveotherteammembersenroll

– BasedonAlexanderOsterwalder’s “BusinessModelCanvas”• Leanstart-uptemplatefordevelopingabusinessmodel

• Drivesalignmentandtradeoffsbetweentheelementsofvalueproposition,customers,financesandinfrastructure

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TMP148/268

• Youwilllearnhowto:1. Discoveranopportunity

2. Defineamarket

3. Buildavalueproposition

5. Develop,testandproveyourBusinessModel

6. Findandwincustomers

7. Brandandcommunicate

8. Launch/GotoMarket

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NVCPrepCourses– WinterQuarter• TMP149/269:DevelopingaMarketTestedBusinessModel

– Instructor:JasonSpievak,Founder- Invoca,CCO– Apeel

– Limitedenrollment- 9to10teamsaccepted

– Application/interviewprocess

– Musthavefullteam(4to5members)toapplyandenroll

– Flippedclassroom- basedonSteveBlank’s“LeanLaunch”

– Weeklydeliverable:Conduct10customerinterviewsandpresenttoclass

– Rigorousandtransformational

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TMP149/269

• Whatwillyoulearn?

1. HowtoEvaluateaBusinessOpportunity• Tool:BusinessModelCanvas• Framework:SteveBlank’sLeanLaunchpadmethodology

2. DefiningandProvingaBusinessModel

3. CustomerDiscoveryandValidation

4. DecisionMakingwithinsufficientdata

5. TeamPursuitofanObjective

LeanLaunch:TheBusinessModelCanvas

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LeanLaunch:Build,Measure,Learn

• TheGoal:Maximizelearningthoughincrementalanditerativeengineering– Productfeatures,customerneeds,pricing,distributionchannel,etc.

• MinimumViableProduct(MVP)

• TestHypotheses(MeasureCustomerResponse)

• PivotorPersevere

NVCSeminars:

1. CompletingtheBusinessModelCanvas

2. PreparingFinancialForecasts

3. Legal– General

4. Legal– IP,Patents,Trademarks

5. DevelopinganInvestorPitchDeck

Resources:MentorsandAdvisors

Whoarethey?

• Localentrepreneursandbusinessprofessionals

• Passionateaboutstart-ups

• Industryanddomainexperts

• Wellconnected

• Wanttohelpyou

Howcantheyhelp?

• Theyspeakfromexperience

• Canbegreat“soundingboards”

• Mightbeaninvestororbusinesspartnerlater

• Oftencanconnectyouwiththeirprofessionalnetworks

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Mentorsarevettedbeforebecominginvolved,andmonitoredandevaluatedbyTMP.Seemeifamentoroffersyouanythingunusual!

Resources:Other• TMPWebSite:http://www.tmp.ucsb.edu

• NVCWebSite:http://www.tmp.ucsb.edu/nvc

• Teamfindergroup:-https://groups.google.com/forum/#!forum/nvc-team-finder-2017

• SteveBlankLLPLectures:http://bit.ly/BlankLLP

• ResourcesforEntrepreneurs:http://steveblank.com/tools-and-blogs-for-entrepreneurs

• Moreresourceswillbecomeavailableasyouadvancethroughthecompetition

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TheNewVentureCompetition

NextSteps

NextSteps:UpcomingFallEvents

PrimaryObjectivesforFallQuarter:

• Comeupwithabusinessidea

• Formateam

• Meetmentors

• ApplyforNVCprepclasses

Schedule

Date Time Event Location

26 Oct 5:30PM NVCOrientation2 ESB1001

7 Nov 6:00PM Mixerand “BigIdea”Event ESB1001

17Nov 6:00PM StudentMixer ESB 1001

29Nov 6:00 PM ElevatorPitchSocial&Mixer Corwin

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TeamDeliverables:December2016

• SubmitteamentryapplicationbyDecember31st

– EarlierforacceptanceintoNVCprepcourses(earlyDecember)

– Lateentriesforcompetitionmaybeaccepted,butnotprepcourses

• Teammembernames,emailaddresses

• Businessname(ifestablished)– Thiscanchangelater

• Briefsummaryofproduct/businessidea(onepage)

• Teams/ideasthatareacceptedwillparticipateinWinterquarteractivitiesandevents

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TeamDeliverables:March2016

• Submitbusiness/teamentrybyMarch27thtobeconsideredfortheNewVentureFair

• Businessname&logo

• Business“tagline”(i.e.Subway:“eatfresh”)

• Businessmodelcanvas

• Executivesummary(2pagesmax)

• Teammembernames,emailaddresses

• All teamsmustsubmitanentrybyMarch27th

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NextSteps• Provideyouremailaddressbeforeyouleavetonight!

– Doesnot commityoutoparticipatingintheNVC– Itdoesenableustocontactyoutoprovidemoreinformation

• AttendFallmixersandNVCevents– Designedtogetindividualstogether,completeteams,discover

mentorswhomayhelp

• Startthinkingaboutanideaandlookingforteammates-VisitourGoogleGroupPage:https://groups.google.com/forum/#!forum/nvc-team-finder-2017

• LiketheTMPNewVentureCompetitionFacebookPagehttps://www.facebook.com/tmpnewventurecompetition/

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Questions?