Title: Get Your Game Face READY
1New Ventures Competition
Get Your Game Face READY June 18, 2008
2HOWDY! Charles H. Martinez Director of
Innovation Services, Research Valley Partnership
W W W. R E S E A R C H V A L L E Y. O R G
3New Venture Competition Sponsor
In partnership with
Supported by
4Advanced Anesthesia Solutions, Inc. 2007 Grand
Prize Winner
Accelerator Technology Corp. 2008 Grand Prize
Winner
OrthoAccel Technologies, Inc. 2007 Runner-up
Prize Winner
Phage Biocontrol 2008 Runner-up Prize Winner
5Background
W W W. R E S E A R C H V A L L E Y. O R G
6The Research Valley
- Heart of the Texas Triangle (growing megapolitan
connectivity) - Scalable business support systems
- Educated workforce (student pipeline)
- Low cost of doing business
- Affordable / high quality of living
- Relaxed pace of life with competitive big-city
conveniences
W W W. R E S E A R C H V A L L E Y. O R G
7The Research Valley Partnership
- A public-private regional economic development
corporation - The town component of town gown economic
development efforts - World class public-private partnerships
- Brazos County, Cities of Bryan and College
Station - Texas AM University System components and Blinn
College - The Alliance (Private Sector)
- Programs/Services Business Development and
Innovation Economic Development (including
Incubation Acceleration)
W W W. R E S E A R C H V A L L E Y. O R G
8OUR VISION To become a leading economy, founded
on our world-class knowledge base and the
creativity, innovation and enterprise of our
people, in order to grow the economic wealth of
our community and improve the quality of life of
all who live and work here. OUR MISSION To be a
catalyst for economic growth in The Research
Valley without regard to municipal boundary,
which engages higher education and private
industry in order to achieve sustainable high
quality economic development success.
W W W. R E S E A R C H V A L L E Y. O R G
9- Economic Development
- As a practice, focuses on the recruitment of new
business operations, assisting in the expansion
of businesses, or assisting in the startup of new
businesses within a region resulting in greater
economic wealth. - Benefits Job creation and increased community
economic output, taxable base, per capita income,
and quality of life. - Intense competition between communities, states
and nations - Techniques Hunting (Attraction) versus Farming
(Innovation)
W W W. R E S E A R C H V A L L E Y. O R G
10Innovation Focus
- Create sustainable pathways
- To grow the Research Valleys knowledge economy
- To provide a pipeline for entrepreneurship
- Centerpiece is incubation and acceleration
services - Demonstrate ongoing commitment to entrepreneurs
- Attract and nurture prospect deal flow
- Increase competitiveness of regional industries
and firms
W W W. R E S E A R C H V A L L E Y. O R G
11New Paradigms
W W W. R E S E A R C H V A L L E Y. O R G
12Funding Intensity
Pre-IPO Gap
Governments
Pre-Commercial Gap Innovation Valley of Death
Banks
Venture Capital
Industry
Industry
Angels
Source Sustainable Development Technology Canada
13Innovation Roadmap
Establish the infrastructure necessary to promote
entrepreneurship and facilitate the creation of
high-tech businesses
Roadmap Action
Develop a Research Valley innovation seed capital
fund
W W W. R E S E A R C H V A L L E Y. O R G
14The Competition
W W W. R E S E A R C H V A L L E Y. O R G
15This could be the discovery of the century.
Depending, of course, on how far down it goes.
16Overview
- Opportunity to build the capacity of startups
- Seed funding to transition todays innovative
ideas into tomorrows leading firms - One of a kind event in Texas that unites a
top-tier research university with its host
community to promote entrepreneurship - Catalyst for growing the Research Valley
marketplace
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
17Intercollegiate Community Models
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
18Complementary Events (Non-affiliated)
Sponsor
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
19Event Planning
- Date Determination Survey for Conflicts
- Site Selection
- Recruitment of Training Classes/Coaches, Judges
(Scoring and Non-scoring) and Volunteers - Sponsorship Packages
- Marketing Pieces, Blanketing Activities, and
the Press - Event Dignitaries and Award Resources
- 10K internal operating budget
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
20Recruitment of Contestants
- Website with Entry Kit Materials
- Colleges / Universities
- Deans, Department Heads and Research Faculty
- Principal Investigators
- Institute, Centers and Laboratories Referrals
- Leads Sponsors, Business/Membership
Organizations, and Investment Community - 30 Total Entrants in 2007 (Inaugural) and 2008
Competitions
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
21Pre-Competition Training
- Experimental Approaches
- 2007 2-day Workshop
- Creating Business Plans that Attract Investors,
Developing the Executive Summary, Preparing for
Term Sheets, Preparing for Due Diligence
Checklists, Structuring Win-Win Transactions with
Angel Investors/Venture Capitalists, and Pitch
Polish - 2008 7-week Creating Funding Startups
Webinar Series - SBIR Funds, Alumni Commercialization Funds, What
Early Stage Investors are Looking For,
Commercialization Continuum, and What Corporate
VCs are Looking For - Lessons Learned
- Help Identify Advantages to Become Competitive
(RVIC) - Make Investments in Impactful Training
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
22Contestant Workshop Topics
- Overview of New Ventures Competition (RVP)
- Eligibility
- Competition Guidelines and Deadlines
- Judging
- Event Day Logistics
- Tips and Techniques for Competition Success
(RVIC) - Fine-tuning the Executive Summary
- Developing a Business Plan that Attracts
Investors - Pitch and Polish
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
23Eligibility
- Any motivated entrepreneur or group having a
viable business concept with high-growth
potential - Open to any legal U.S. resident
- New, independent ventures in the pre-seed/seed,
start-up, or early growth stages seeking outside
equity - An affiliation with the Research Valley and/or
TAMUS desired, but not required
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
24Research Valley Counties
Recognized as a Knowledge Commercialization Zone
25Eligibility - Exclusions
- Sponsor to determine on a case-by-case basis
- Buy-outs
- Expansions of existing companies
- Real estate syndications
- Tax shelters
- Franchises
- Licensing agreements for distribution in a
different geographic area - University licensing technologies ARE encouraged
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
26Guidelines IP and Confidentiality
- Entrants have all right, title and/or interest in
business plan submitted - Disclosure of any secured arrangements for
capital - Competition is open to the public No
nondisclosure agreements for Entrants - Proprietary material must be marked CONFIDENTIAL
access granted to Competition Sponsor and Judges
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
27Guidelines Registration
- Entrants must electronically submit an Official
Entry Kit in .PDF version (2 weeks prior to
Competition) - Official Entry Form
- Executive Summary
- Business Plan
- Form W-9 or W-8 ECI for Entrant Team
- 1 Professional bound copy of Entry Kit for
Competition Sponsor
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
28Guidelines Registration Cont.
- 100 non-refundable registration fee 2 seats
provided for Competition Awards Banquet - Competition can accommodate up to 14 companies
- Competition will be by invitation only
- Notification of entry status 1 week prior to
Competition - Drawing of presentation order for the invited
companies 1 week prior to Competition
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
29Guidelines Entry Kit (Executive Summary)
- The entry document into the Competition
- Open to the public
- Limited to 5-pages (12 pt. font and 1-inch
margins) - Instrumental to Competition Judges
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
30Guidelines Entry Kit (Business Plan)
- Limited to 20-pages, including the Executive
Summary - Appendices may follow text, but limited to
10-pages - In total, the Plan cannot exceed 30-pages
- NOT available to the public
- Access granted to Competition Sponsor and Judges
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
31Guidelines Presentations
- Non-scoring Feedback Round (Day Before
Competition) - Entrant given 10-minutes to make presentation
- Up to 5-minutes Feedback session on
content/delivery - Closed to the public
- Opening Scoring Round (Competition Day)
- 2-minute Elevator Pitch without the use of AV
equipment - No Question/Answer Session
- Open to Public
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
32Guidelines Presentations Cont.
- Opening Scoring Round (Competition Day) 2
Groups w/ Top 2 advancing - Entrant given 15-minutes to present business plan
- Up to 10-minutes Question/Answer session between
Entrant and Competition Judges - Open to the public
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
33Guidelines Presentations Cont.
- Lightning Round (Competition Day) Each Groups
3rd ranked vie for the Wildcard spot - Entrant given 10-minutes to make presentation
- Up to 5-minutes Question/Answer session between
Entrant and Competition Judges - Closed to the public
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
34Guidelines Presentations Cont.
- Finalists Scoring Round (Competition Day) Top 4
Teams plus Wildcard - Entrant given 20-minutes to present business plan
- Up to 15-minutes Question/Answer session between
Entrant and Competition Judges - Open to the public
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
35Guidelines Awards
- One Grand Prize of 30K - One Runner-up Prize of
10K - First installment equal to one-half of the prize
value given after the Competition Award Banquet - Second installment equal to one-half of the prize
value paid following review by Judging Panel of
the milestones made by the winning team - Prize acceptance stipulated upon the winning
companies launching and maintaining core
operations in the Research Valley
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
36Guidelines Judging
- Panel of judges to score the business documents
and presentations - Representing the equity capital community (i.e.,
angel investors, venture capitalists, experienced
entrepreneurs, non-profit founders, legal
professionals, patent experts, banking/investment
professionals, etc.) - Representing the Competition Sponsor and
partnering TAMUS entities
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
37Guidelines Judging Cont.
- Elevator Pitch Scoring
- Content
- Product/Service
- Unique Differentiators
- The Market
- Business Model
- Milestones
- The Ask
- Delivery
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
38Guidelines Judging Cont.
- Business Plan Scoring
- Executive Summary
- Products or Services (Development Stage)
- Market and Marketing Strategy (Leadership and
Defensibility from Competitors) - Management
- Summary Financials
- Offering and Viability
- Overall Plan Assessment Demonstrating High Value
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
39Guidelines Judging Cont.
- Presentation Scoring
- Market Opportunity and Timing
- Distinctive Competence
- Management Quality and Capability
- Financial Understanding
- Investment Potential (Up-front and Duration)
- Overall Presentation
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
40SAMPLE Competition Day Logistics
- April 9, 2008
- 100p to 500p Non-scoring Feedback Round
- April 10, 2007
- 800a to 1200p Elevator Pitch Opening Scoring
Round - 1200p to 130p Networking Luncheon
- 1230p to 100p Lightning Round Wildcard Spot
- 200p to 500p Finalists Round
- 600p to 800p Awards Banquet (Ticketed)
W W W. R E S E A R C H V A L L E Y. O R G
New Ventures Competition
41 George Bush Presidential Conference Center
2007 Competition Site
Networking Lunch
Registration
Feedback Non-Scoring Round, Scoring
Round and Lightning Round for Wildcard
Exhibit Area
Scoring Round and Finalists Round
42 Donald L. Houston Conference Center
2008 Competition Site
Exhibit Area
Exhibit Area
Rounds Feedback Non-Scoring, Scoring, Lightning
for Wildcard, and Finalist
Scoring Round and Finalists Prep Area
Networking Lunch
Registration
43 Overview of Entrant Companies 2007 and
2008 Competitions
2007 - 2nd Place
2008 - 1st Place
2007 - 4th
2008 - 3rd
2008 - 2nd Place
2007 - 3rd
2008 - 4th
2007 - 1st Place
44 Concluding Thoughts 2007 and 2008
Competitions
- Be Prepared for a LOT of Work
- Volunteers
- Maintain Flexibility to Ensure Meaningful,
Competitive Contest But Stick to the Guidelines - Make Competition Documents and Event Schedule
Easy to Follow - Sponsors are Attracted to Success Stories
- Quality Judges Makes it Easy to Select Awardees
- Its a BIG DEAL for the Entrants
- Feedback is Important (RVIC)
http//broadband.nba.com/cc/playa.php?contentvide
ourlhttp//boss.streamos.com/wmedia/nba/nbacom/b
otn/botn_061120.asx
45Good Luck !
Questions Charles H. Martinez Director of
Innovation Services The Research Valley
Partnership (979) 260-1755 cmartinez_at_researchvalle
y.org