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1 Patrick Vernon. 2 3 Goal To increase the number of successful UNC startups.

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Presentation on theme: "1 Patrick Vernon. 2 3 Goal To increase the number of successful UNC startups."— Presentation transcript:

1 1 Patrick Vernon

2 2

3 3 Goal To increase the number of successful UNC startups.

4 Odorless Portable Toilets Find Garden Experts Wireless Nurse Call Luxury Footwear from Africa

5 Top 11: $58.4MM and 131 Jobs in 2012 Company Founded LocationRevenue# Empl.Description Spectraforce 2000Raleigh$50MM50IT/staff Outsourcing Worksmart 2001Durham$3.7MM35IT services Oriel Therapeutics 2010Durham$1.6MM11Pharma: drug delivery LoneRider 2007Raleigh$1MM10Brewery Entegrion 2002Durham$560K6Pharma: blood InnerOptic 2002Hillsborough$500K4Image-guided surgical inst. ClassWatch 2008Washington$220K3Class watches Asklepios BioPharma 2001Chapel Hill$290K5Pharma: bio nano particles Custom Choice Cereal 2010Durham$210K3 Gluten free customized cereal Windsor Circle 2011Durham$150K3B2B software as service Bella Monica 2004Raleigh$140K1Food, flatbreads

6 6 AGENDA Who are you? Overview of Launch classes Application process Teams Next steps

7 7 Who are You?

8 8

9 9

10 10 AGENDA Who are you? Overview of L AUNCH classes Application process Teams Next steps

11 11 Phases Teams Short Lectures, Weekly Challenges Teams Lectures and Cohort Coaching 6-10 Teams Lectures and Coaches Business Plan Elevator Pitch Launch Plan Planning Early Spring, “Mod III” Financing Late Spring, “Mod IV” Feasibility Late Fall, “Mod II” Winter Break Spring Break Skills and Team Building Early Fall, “Mod I” Fall Break Individuals Non-Credit Workshops and Networking Teams Outcomes

12 12 Phase 1 Workshops VC 101 | 8/26 –What is venture capital? –What do VCs do? –How does one attract VCs? MBA 101 | 9/9 –Primer on business jargon –Basic strategies and lessons from core MBA courses Startup 101 | 9/23 –Basic concepts in entrepreneurship –Business plans and venture pitches –Last networking session before application deadline

13 13 Phase 1 Key Dates 8/21 – Kickoff + Network 8/26 – VC Network 8/28 – Idea Roundtable 9/4 – Idea Roundtable 9/9 – MBA Network 9/18 – Idea Roundtable 9/23 – Startup Network 10/6 – Application 10/8-10 – Interviews 10/11 – Admit Notification 10/21 – Class Starts

14 14 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

15 15 Feasibility Textbooks Business Model Generation Alexander Osterwalder and Yves Pigneur, Wiley, 2010 The Four Steps to the Epiphany Steve Blank K&S Ranch, 2013

16 16 Four Steps to the Epiphany “Lean LaunchPad”

17 17 Business Model Canvas

18 18 Feasibility Philosophy...

19 19 Experiential Philosophy

20 20 In ∙ ter ∙ ac ∙ tive People influencing or having an effect on each other Interactive Philosophy

21 21 Strategic and Tactical Philosophy

22 22 Scrappy Philosophy

23 23 L AUNCH 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 Philosophy

24 24 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

25 25 Weekly Challenges +

26 26 After Winter Break Mod III: Business Planning Mod IV: Financing Some teams might skip Feasibility

27 27 AGENDA Who are you? Overview of Launch classes Application process Teams Next steps

28 28 What Are We Looking For IDEA Innovative Big problems Achievable milestones TEAM Cross disciplinary Expertise Exceptional drive

29 29 What Doesn’t Fit Well Lack of innovation Income replacement “Lifestyle” venture Restaurant, bar or traditional retail

30 30 Application due 10/6 Must have team of 3 or more...

31 31 AGENDA Who are you? Overview of Launch classes Application process Teams Next steps

32 32 Teams Core needs for Feasibility Phase Communications Research

33 33 AGENDA Who are you? Overview of Launch classes Application process Teams Next steps

34 34 Connections Website I challenge you: 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

35 35 Idea Roundtables 5 people + me Caribou Coffee Estes/Franklin Sign up at: or

36 36 Workshops VC 101 | 8/26 –What is venture capital? –What do VCs do? –How does one attract VCs? MBA 101 | 9/9 –Primer on business jargon –Basic strategies and lessons from core MBA courses Startup 101 | 9/23 –Basic concepts in entrepreneurship –Business plans and venture pitches –Last networking session before application deadline

37 37 Key Dates 8/21 – Kickoff + Network 8/26 – VC Network 8/28 – Idea Roundtable 9/4 – Idea Roundtable 9/9 – MBA Network 9/18 – Idea Roundtable 9/23 – Startup Network 10/6 – Application 10/8-10 – Interviews 10/11 – Admit Notification 10/21 – Class Starts

38 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

39 39 Idea Person Idea Person Idea Person Idea Person Idea Person Idea Person Idea Person Idea Person Idea Person Free Agent

40 40 Free Agent Free Agent Free Agent Free Agent Free Agent Free Agent Free Agent Free Agent Free Agent Idea Person

41 P ATRICK V ERNON Clinical Assistant Professor of Entrepreneurship Executive Director, Center for Entrepreneurial Studies UNC Kenan-Flagler Business School | | Scrappy ↓ Q UESTIONS ?

42 42 Tagxedo Fiverr Qualtrics WordPress Google Doc YouTube


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