Presentation on theme: "Michigan Entrepreneurs A Showcase of Entrepreneurship: Start-ups by U of M Students October 21, 2002 7PM Michigan Union Anderson Room D 3430 E. Jefferson."— Presentation transcript:
Michigan Entrepreneurs A Showcase of Entrepreneurship: Start-ups by U of M Students October 21, PM Michigan Union Anderson Room D 3430 E. Jefferson Ave. #140 Detroit, MI Michael S. McCorquodale Doctoral Fellow, University of Michigan EECS CEO and Co-Founder, Mobius Microsystems
Overview About Mobius Microsystems Technology How University Research is Commercialized University Resources Michigan Entrepreneurial Activity Philosophy of Emerging Business Advice
About Mobius Microsystems Mobius is a microsystems company that is commercializing microsystems technologies from The University of Michigan Mobius is an industrial partner with The Wireless Integrated Microsystems Engineering Research Center at The University of Michigan The company was founded by University of Michigan Doctoral Fellow, Michael S. McCorquodale and his Research Advisor, Dr. Richard B. Brown, with the help of Michigan MBA students Jeff Wilkins and Wade Rushing and veteran entrepreneur Jim Vincke
Mobius Technology Integrated Implementation Board Level Implementation Variety of Substrates Isolation Concerns Between Digital, Analog, RF Macroscopic Mechanical Devices Si-CMOS Digital InP-HBT RF Mechanical Quartz Sensor Si-BiCMOS Analog How?
Mobius Technology Integrated Implementation Board Level Implementation CMOS and SOI CMOS Substrates Novel Analog, RF, and Digital Design MEMS Technology
Mobius Initial Technology Completely on-chip implementation of the clock generator requiring no external components High-performance enabled by MEMS technology to overcome the mediocre performance of other on-chip implementations MEMS circuitry that is completely compatible with standard CMOS manufacturing Tunable operating frequency, which reduces power consumption and increases flexibility, unlike current fixed- frequency technology Considerably lower power consumption as compared to existing high performance clock generation technology Lower cost as compared to alternative clock generation technologies Mobius Digital Monolithic Clock (DMC) Technology
Mobius Business Model Manufactured and Packaged SoC SoC Design Semiconductor Intellectual Property (SIP) IP used in research system-on-chip (SoC) design Mobius DMC IP
Commercializing University Research Fundraising or Other Financing Fundamental Research IP Clean Research Grant Disclosure to University Publish Non Provisional Patent Application Business Planning and Development License Rollout: Sell or Continue Development Provisional Patent Application License Option?
University Resources Essential Courses ES 515/517 New Venture Creation I Researching & Writing the Business Plan EECS 498 Patent Law for Engineers Other Courses to Consider FIN 623/624 Venture Capital and Private Equity IOE 422 Entrepreneurship
University Resources Zell Lurie Entrepreneurial Institute Preparation for business plan competitions MBA Internship Program Business development support Dare to Dream Grant Program Prior Hale, Michigan Innovators Technology Management Office Business development support Grants: GAP, OVPR, MUCI, ETCF Licensing
Michigan Entrepreneurial Activity Where is it? BioTech and Engineering predominantly How active? Not very, but getting much better Why? Good question Who will start the next great enterprise? Plenty of resources now available!
Philosophy on Emerging Business Why start a technology company anyway? Money? Prestige? Independence? Fun? Creation? Why I believe you should start a company To create with others To build something greater than you can be as an individual To change peoples lives for the better with technology To contribute to the spirit of American enterprise To contribute to the local and national economy To create jobs for people Basically, to change the world: The only real reason
Advice: Humorous Observations Intellectual Property Circumstance: You have 50 patents covering your technology Reality: You dont know how to write a patent Experience Circumstance: You are a serial entrepreneur Reality: You cant finish what you start Effort Circumstance: You think things will be easy Reality: Nothing worth doing is easy Motivation Circumstance: You expect to get rich Reality: The best companies (and people) have altruistic goals
Advice: Dispelling Myths Financing Myth: VC is the only way to fund a company Truth: SBIR, STTR, Debt, Angel, Revenue, Grants, Competitions, etc. are all available Venture Capital Myth: You need VC to start a company Truth: You need customers to start a company People Myth: You need a professional management team Truth: You need a team of bankable people Raising Money Myth: You can raise money by shopping your plan Truth: All VC and PE is raised by relationships Market Opportunity Myth: You understand your opportunity from analyst reports Truth: Unless you have spoken to potential customers, you dont understand anything
Advice: Takeaways Most Important People, people, people! Most Important Characteristic of the People Vision! Most Frustrating Hurdles The Bozos: Most people are risk adverse and will tell you that you cant do it. These people are idiots. Ignore them. Listen and Observe Listen to other entrepreneurs, talk to investors, watch other start-ups, read about new technologies, follow market trends. Build Relationships Get to know everyone in your field and in the start-up community here, across the country, and around the world.
Questions Welcome 3430 E. Jefferson Ave. #140 Detroit, MI Michael S. McCorquodale Doctoral Fellow, University of Michigan EECS CEO and Co-Founder, Mobius Microsystems