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Get Your Game Face READY

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Title: Get Your Game Face READY


1
New Ventures Competition
Get Your Game Face READY June 18, 2008
2
HOWDY! 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
3
New Venture Competition Sponsor
In partnership with
Supported by
4
Advanced 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
5
Background
W W W. R E S E A R C H V A L L E Y. O R G
6
The 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
7
The 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
8
OUR 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
10
Innovation 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
11
New Paradigms
W W W. R E S E A R C H V A L L E Y. O R G
12
Funding Intensity
Pre-IPO Gap
Governments
Pre-Commercial Gap Innovation Valley of Death
Banks
Venture Capital
Industry
Industry
Angels
Source Sustainable Development Technology Canada
13
Innovation 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
14
The Competition
W W W. R E S E A R C H V A L L E Y. O R G
15
This could be the discovery of the century.
Depending, of course, on how far down it goes.
16
Overview
  • 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
17
Intercollegiate 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
18
Complementary 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
19
Event 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
20
Recruitment 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
21
Pre-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
22
Contestant 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
23
Eligibility
  • 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
24
Research Valley Counties
Recognized as a Knowledge Commercialization Zone
25
Eligibility - 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
26
Guidelines 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
27
Guidelines 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
28
Guidelines 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
29
Guidelines 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
30
Guidelines 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
31
Guidelines 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
32
Guidelines 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
33
Guidelines 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
34
Guidelines 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
35
Guidelines 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
36
Guidelines 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
37
Guidelines 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
38
Guidelines 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
39
Guidelines 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
40
SAMPLE 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)

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45
Good Luck !
Questions Charles H. Martinez Director of
Innovation Services The Research Valley
Partnership (979) 260-1755 cmartinez_at_researchvalle
y.org
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