Patrick Vernon
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Goal To increase the number of successful UNC startups.
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Odorless Portable Toilets Luxury Footwear from Africa
Wireless Nurse Call
Find Garden Experts
Top 11: $58.4MM and 131 Company
Spectraforce Worksmart Oriel Therapeutics LoneRider Entegrion InnerOptic ClassWatch Asklepios BioPharma Custom Choice Cereal Windsor Circle Bella Monica
Jobs in 2012
2000
Location Raleigh
Revenue $50MM
2001
Durham
$3.7MM
35
IT services
2010
Durham
$1.6MM
11
Pharma: drug delivery
2007
Raleigh
$1MM
10
Brewery
2002
Durham
$560K
6
Pharma: blood
2002
Hillsborough
$500K
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Image-guided surgical inst.
2008
Washington
$220K
3
Class watches
2001
Chapel Hill
$290K
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Pharma: bio nano particles
2010
Durham
$210K
3
Gluten free customized cereal
2011
Durham
$150K
3
B2B software as service
2004
Raleigh
$140K
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Food, flatbreads
Founded
# Empl. Description 50 IT/staff Outsourcing
AGENDA • • • • •
Who are you? Overview of Launch classes Application process Teams Next steps
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Who are You?
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Who are You?
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AGENDA • • • • •
Who are you? Overview of LAUNCH classes Application process Teams Next steps
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Phases Outcomes Skills and Team Building Early Fall, “Mod I” Fall Break
Feasibility Late Fall, “Mod II” Winter Break
Planning Early Spring, “Mod III” Spring Break
Financing Late Spring, “Mod IV”
Individuals Non-Credit Workshops and Networking
Teams
16-20 Teams Short Lectures, Weekly Challenges
Elevator Pitch
12-16 Teams Lectures and Cohort Coaching
Business Plan
6-10 Teams Lectures and Coaches
Launch Plan 11
Phase 1 Workshops • VC 101 | 8/26
• Startup 101 | 9/23
– What is venture capital? – What do VCs do? – How does one attract VCs?
– Basic concepts in entrepreneurship – Business plans and venture pitches • MBA 101 | 9/9 – Last networking session – Primer on business jargon before application – Basic strategies and lessons deadline from core MBA courses 12
Phase 1 Key Dates • 8/21 – Kickoff + Network • 8/26 – VC 101 + Network • 8/28 – Idea Roundtable • 9/4 – Idea Roundtable
• 9/9 – MBA 101 + Network • 9/18 – Idea Roundtable
• 10/6 – Application • 10/8-10 – Interviews • 10/11 – Admit Notification • 10/21 – Class Starts
• 9/23 – Startup 101 + Network 13
Phase 2: Launch Feasibility • 1.5 credit hours (active PID required) • Sections: – 001: M/W 3:30, MBAs mostly – 002: M 5:00-8:00, cross campus
• Weekly team update presentations • Weekly challenges 14
Feasibility Textbooks
Business Model Generation Alexander Osterwalder and Yves Pigneur, Wiley, 2010
The Four Steps to the Epiphany Steve Blank K&S Ranch, 2013 15
Four Steps to the Epiphany “Lean LaunchPad”
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Business Model Canvas
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Feasibility Philosophy...
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Experiential
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Interactive
In∙ter∙ac∙tive People influencing or having an effect on each other
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Strategic and Tactical
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Scrappy
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LAUNCH is NOT: • • • • •
Not… an “intro to entrepreneurship” class Not… a business plan writing class Not… just an academic exercise Not… the same workload as regular class Not… big enough to admit everyone
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Weekly Challenges Week 1: Video Face-Off Week 2: Startup Forensics Contest Week 3: Pre-Seed Funding Pitch Week 4: Storytelling Slam Week 5: Advisory Board Rodeo Week 6: Survey Challenge Week 7: MVP Smackdown
Customer and Expert Interviews
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Weekly Challenges +
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After Winter Break • Mod III: Business Planning • Mod IV: Financing
• Some teams might skip Feasibility
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AGENDA • • • • •
Who are you? Overview of Launch classes Application process Teams Next steps
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What Are We Looking For IDEA • Innovative • Big problems • Achievable milestones
TEAM • Cross disciplinary • Expertise • Exceptional drive
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What Doesn’t Fit Well • • • •
Lack of innovation Income replacement “Lifestyle” venture Restaurant, bar or traditional retail
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Application due 10/6 www.launch.unc.edu/apply Must have team of 3 or more...
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AGENDA • • • • •
Who are you? Overview of Launch classes Application process Teams Next steps
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Teams www.launch.web.unc.edu Core needs for Feasibility Phase • Communications • Research
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AGENDA • • • • •
Who are you? Overview of Launch classes Application process Teams Next steps
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Connections Website www.launch.web.unc.edu
• I challenge you: email 5 people before the next networking session • Plan to meet at that session • For teammates: don’t commit too early, but don’t wait too late • Have a backup plan • Come to an idea roundtable to knock around ideas
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Idea Roundtables • 5 people + me • Caribou Coffee Estes/Franklin • Sign up at: www.launch.unc.edu or http://goo.gl/IS1J1L
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Workshops • VC 101 | 8/26
• Startup 101 | 9/23
– What is venture capital? – What do VCs do? – How does one attract VCs?
– Basic concepts in entrepreneurship – Business plans and venture pitches • MBA 101 | 9/9 – Last networking session – Primer on business jargon before application – Basic strategies and lessons deadline from core MBA courses 36
Key Dates • 8/21 – Kickoff + Network • 8/26 – VC 101 + Network • 8/28 – Idea Roundtable • 9/4 – Idea Roundtable
• 9/9 – MBA 101 + Network • 9/18 – Idea Roundtable
• 10/6 – Application • 10/8-10 – Interviews • 10/11 – Admit Notification • 10/21 – Class Starts
• 9/23 – Startup 101 + Network 37
The two most important requirements for major success are: - first, being in the right place at the right time, and - second, doing something about it. -Ray Kroc
Free Agent 39
Idea Person 40
QUESTIONS?
PATRICK VERNON Clinical Assistant Professor of Entrepreneurship Executive Director, Center for Entrepreneurial Studies UNC Kenan-Flagler Business School Scrappy ↓
[email protected] |
[email protected] | www.launch.unc.edu
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Fiverr 42
