Presentation on theme: "Presentation to the IAB Meeting Karuna P Joshi June 13, 2013"— Presentation transcript:
1 Presentation to the IAB Meeting Karuna P Joshi June 13, 2013 NSF I-Corps programPresentation to the IAB MeetingKaruna P JoshiJune 13, 2013
2 NSF Innovation Corps (I-Corps) program Set of activities and programs that prepare researchers to extend their focus beyond the laboratory.Teaches grantees to identify valuable product opportunities that can emerge from academic research, and offers entrepreneurship training to student participants.EligibilityPI Must have an active NSF awardMust have I-Corps team in place at initial contact
3 CurriculumBased on hypothesis-driven business-model discovery (pioneered by Stanford and Steve Blank)Focuses on addressing market riskRequires getting out of the lab to meet potential clientsMandatory for all I-Corps participantsAttend introductory 3-day workshopParticipate in 5 follow-on webinars with team presentations/ interactionsAttend 2 days of demos/lessons learned
4 I-Corps Teams I-Corps Teams have three essential members Principal investigatorEntrepreneurial leadMentorTwo rounds of interviews for acceptanceNSF Project ManagersI-Corps training teamHighly competitive (acceptance rate ~ 18%)
5 UMBC Team Members Entrepreneur Lead : Dr. Karuna P Joshi Research Assistant Professor, UMBCProduct Idea based on EL’s PhD ResearchResearch Focus : Cloud Services automation, Cloud Usability (with NIST)Primary Investigator: Dr. Yelena YeshaProfessor , UMBCResearch Focus : Personalized Medicine, Cloud Computing, DatabasesAdvisor to ELTeam Mentor: Lily BengfortFounder of CenGen, VP DRS TechnologiesMentor at Path Forward Center,Founding Member of Howard County Technology CouncilTrainer in the ACTIVATE program
6 Our product: Cloud Services Broker Initial Idea: Application to automatically discover, acquire and consume Cloud based services.Over 100 potential Customers talked toSize of the opportunityTotal Available Market - $240B by 2020Served Available Market - Federal agencies,International Agencies and Higher Education sectorFederal Agencies (annual $10 billion by 2018).Initial Target (For minimum viable product)Estimate CSB 10% of Market ~ $100 million
7 Business Model Canvas Free/Advertisements Pay per Use model Procure services that best match data, security, complianceReduce acquisition time by 75%Machine readable SLA for live feed of performance.Manage services on private cloudAutomate NegotiationDevelop MVPSet up contracts with cloud providers, consumersUMBC Tech IncubatorFederal agenciesIndustryDefense ContractorTarget customers free initial useBundle servicesFederal agenciesProvisioning tool for private cloudCommercial cloud providersInternetMobile AppCloudInfrastructureDevelopersFree/AdvertisementsPay per Use modelSubscription based modelConsulting ServicesInfrastructure costsDeveloper costs
8 First workshop in New York What we DidLectures on Business Canvas and it’s componentsInstructed to interview 15 potential customers in 2 daysStepped outside our comfort zone – cold called companies in New York, talked to people at the coffee shop.What we FoundSecurity was a top concern for customersCustomers ready to pay more for security/branded cloudsIncreased our customer base to include Healthcare/Pharma, Financial sector - Organizations with compliance/regulatory requirementsCloud Identity Management big business (Security/Privacy)
9 Follow-up sessions in DC Got out of the building to interview customersContacted key players in Federal agencies, cloud providers, other companiesAttended DoD cloud Assurance conference – gave us key insight on customer expectationsWeekly updates to the teaching staff
10 Follow-up sessions: What we Found Security/Privacy key concern for customersRevised Value Propositions based on customer interviewsSecurity risk assessmentCloud cost assessmentRemoved a key value proposition “Automate Negotiation”Large organizations have mature procurement staff.Focused our targeted market to Federal agencies, International Agencies and Higher Education sectorDetermined customer acquisition costCustomer Archetype diagram, channels and revenue streams
13 Insight There is a market need for Cloud Service Brokers Customers want Independent / Neutral companies for this roleMarket in a flux due to ambiguous definition of what a broker should doSome customers want the broker to do everything – negotiate SLAs, contract oversight etc.Others are still working on a cloud strategy.Cloud Providers currently not interested in tying up cloud brokersTrying to get the “cloud broker” functionality within their offerings .
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