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NSF I-CORPS PROGRAM Presentation to the IAB Meeting Karuna P Joshi June 13, 2013.

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Presentation on theme: "NSF I-CORPS PROGRAM Presentation to the IAB Meeting Karuna P Joshi June 13, 2013."— Presentation transcript:

1 NSF I-CORPS PROGRAM Presentation to the IAB Meeting Karuna P Joshi June 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. Eligibility PI Must have an active NSF award Must have I-Corps team in place at initial contact

3 Curriculum Based on hypothesis-driven business-model discovery (pioneered by Stanford and Steve Blank) Focuses on addressing market risk Requires getting out of the lab to meet potential clients Mandatory for all I-Corps participants Attend introductory 3-day workshop Participate in 5 follow-on webinars with team presentations/ interactions Attend 2 days of demos/lessons learned

4 I-Corps Teams I-Corps Teams have three essential members 1. Principal investigator 2. Entrepreneurial lead 3. Mentor Two rounds of interviews for acceptance NSF Project Managers I-Corps training team Highly competitive (acceptance rate ~ 18%)

5 UMBC Team Members Entrepreneur Lead : Dr. Karuna P Joshi Research Assistant Professor, UMBC Product Idea based on ELs PhD Research Research Focus : Cloud Services automation, Cloud Usability (with NIST) Primary Investigator: Dr. Yelena Yesha Professor, UMBC Research Focus : Personalized Medicine, Cloud Computing, Databases Advisor to EL Team Mentor: Lily Bengfort Founder of CenGen, VP DRS Technologies Mentor at Path Forward Center, Founding Member of Howard County Technology Council Trainer 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 to Size of the opportunity Total Available Market Total Available Market - $240B by 2020 Served Available Market Served Available Market - Federal agencies, International Agencies and Higher Education sector Federal Agencies (annual $10 billion by 2018). Initial Target Initial Target (For minimum viable product) Estimate CSB 10% of Market ~ $100 million

7 Business Model Canvas Free/Advertisements Pay per Use model Subscription based model Consulting Services Federal agencies Provisioning tool for private cloud Commercial cloud providers Infrastructure costs Developer costs Target customers free initial use Bundle services UMBC Tech Incubator Federal agencies Industry Defense Contractor Infrastructure Developers Procure services that best match data, security, compliance Reduce acquisition time by 75% Machine readable SLA for live feed of performance. Manage services on private cloud Automate Negotiation Develop MVP Set up contracts with cloud providers, consumers Internet Mobile App Cloud

8 First workshop in New York What we Did Lectures on Business Canvas and its components Instructed to interview 15 potential customers in 2 days Stepped outside our comfort zone – cold called companies in New York, talked to people at the coffee shop. What we Found Security was a top concern for customers Customers ready to pay more for security/branded clouds Increased our customer base to include Healthcare/Pharma, Financial sector - Organizations with compliance/regulatory requirements Cloud Identity Management big business (Security/Privacy)

9 Follow-up sessions in DC Got out of the building to interview customers Contacted key players in Federal agencies, cloud providers, other companies Attended DoD cloud Assurance conference – gave us key insight on customer expectations Weekly updates to the teaching staff

10 Follow-up sessions: What we Found Security/Privacy key concern for customers Revised Value Propositions based on customer interviews Security risk assessment Cloud cost assessment Removed a key value proposition Automate Negotiation Large organizations have mature procurement staff. Focused our targeted market to Federal agencies, International Agencies and Higher Education sector Determined customer acquisition cost Customer Archetype diagram, channels and revenue streams

11 Customer Ecosystem Diagram Service consumer Decision MakerInfluencer Final Authority/ Cloud Strategy CEO/CIO Chief Acquisition Officer Contracting Officers Procurement staff Program Managers Chief Technology Officer Cloud Infrastructure Manager End User Services / Software Manager CISO (Security Manager) OSDBUs, SADBUs, SBLO Our Customer Archetype

12 Business Canvas

13 Insight There is a market need for Cloud Service Brokers Customers want Independent / Neutral companies for this role Market in a flux due to ambiguous definition of what a broker should do Some 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 brokers Trying to get the cloud broker functionality within their offerings.

14 Links Technical video on Youtube


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