Start-Up Boot Camp for University TTO Professionals and Inventors


Session 1: Early Decision-Making and Team Building
Gerard Eldering, Jack Brittain, Brian Cummings

  • Benefits and drawback to start-ups
    • Start-up versus license
    • Considering the university vision/mission
    • Aligning stakeholders: Inventor, University, Entrepreneur
  • Assessment
    • Feasibility analysis
    • Assessing patentability, patent claim breadth, competition, market trends, market size and likely penetration, time to market, scale-up factors, manufacturing and distribution burdens, likely partners
  • Bootstrapping issues
    • Pre-launch funding
    • Getting started: Space, corporate documents, compliance and tax issues
    • Starting lean and mean
  • Team building and dynamics
    • Partnering
    • Advisory board recruitment/make-up
    • Leadership
    • University interest/role
    • COI and other legal issues
  • Money matters and inventor buy-in
    • Value versus equity
    • Leadership incentives/options/employment agreements
    • Early-stage valuation
    • The investor perspective deal-breakers
    • Managing inventor expectations

Session 2: Money matters
Gerard Eldering, Jack Brittain, Brian Cummings

  • The realities: Playing in the Investor's Sandbox
  • Angels versus VCs
  • Valuation issues
  • Equity allocations
  • Option pools and other equity dilutions
  • Investment schedules/tranches
  • Milestones
  • Alternatives
  • The University Stake

Session 3: Creating a Solid Business Plan
Gerard Eldering and Jim Chung from MD Tech Enterprise Inst.

  • Managing Risk
    • Audience (Potential Investors, Partners, Recruits)
    • Risk/Return
  • Problem & Solution Statement
  • Market Risk
    • Market Opportunity
    • Market Size
  • Technology/Product Risk
    • Description
    • Feasibility
  • Execution/Team Risk
    • Team Strengths
    • Key Hires
    • Market Entry Strategy
    • Manufacturing/Operations
  • Financial Risk
    • Financial Plan
    • Exit Strategies
  • Mistakes to Avoid

Session 4: Funding options and opportunities
Presenters: Gerard Eldering and Kef Kasdin

  • Attracting and/or seeking out the right investor(s)
    Identify what type of funding you need and when:
    • Gap funds
    • Seed
    • Angel
    • VC
    • Lines of Credit
    • Government funding/SBIR/Grants
    • Understanding the pros and cons and strategies of each
  • Structuring the investment
  • Common terms and pitfalls to avoid
  • Investor turn-ons and turn-offs
  • Current investment landscape and forecast for 2011
  • Understanding and living with dilution

Session 5: Pitching techniques to get what you want
Presenters: Gerard Eldering and Kef Kasdin

  • Preparation strategies
  • Content
  • How venue should impact the pitch
  • What investors are looking for
  • Key topics, words, and phrases - and common blunders
  • Delivery techniques
  • Striking the right balance between too much information, and too little
  • Getting results - closing and follow-up

Session 6: Impact and outcomes
Presenter: Gerard Eldering

  • Tracking local job creation and economic impact
  • Growth strategies
  • Stakeholder outreach
  • Later-stage funding
  • Case studies of successful exits
  • When and how to seek a buyer
  • Considering an IPO
  • Marketing strategies