boomstartup program introduction 2011
DESCRIPTION
This is the introduction slide deck that we used at our Meetups for the 2011 season. The deck has our general information and then a brief LeanStartup implementation overview.TRANSCRIPT
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Follow us now
@BoomStartup
/BoomStartup
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Management Team
• John Richards, Co-Managing Partner BoomStartup
• Robb Kunz, Co-Managing Partner BoomStartup
• Andy White, Executive Director
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Continuous Growth for 2011• Became Founding Member of TechStars
Network
• Opened Salt Lake City Campus at Miller Innovation Center
• Partnered With Grow Utah Ventures and Northfront Alliance to expand into Northern Utah
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Mentorship-Driven Start-ups• “Better way” to Start Companies
- Inexpensive and easier to manage- Leverage mindshare across mentors…just-in-time- Higher probability of getting funded
• “Better way” to Invest in Companies- Reduce risk profile of investment- Higher probability of Company performance and exit
• Modeled after, but improved upon …– TechStars, Boulder CO
• www.techstars.org– Y Combinator, Mountain View CA
• www.ycombinator.com
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Higher Probability of Getting Funded
Source: AngelSoft , Last 12 months, March 2010
20,618
561
Traditional Investment Mentorship-Driven Investment
60%
Source: TechStars, March 2010
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Higher Probability of Performance/Exit
Status
Active
Companies
29
%
74.36%
Acquired > $2M 4 10.26%
Acquired < $2M
FailedOther
1
41
2.56%
10.26%2.56%
Source: TechStars, March 2010
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MENTORS• Who?
– Angel investors who want to participate in the first angel round– VC associates and partners who want to track promising
startups– Entrepreneurs with Successful Exits– Subject Matter Experts– Service Providers
• Mentoring & Training– Custom Curriculum – One-on-one Mentoring for specific topic– Targeted Seminars & workshops
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Investor-Mentors• John Richards | Co-Managing Partner, InfoSpace, BYU
• Robb Kunz | Co-Managing Partner, KnowledgeBlue
• Andy White | Executive Director, TH(i)NQ Ed
• Craig Earnshaw |LifeLink Corp
• Kimball Wirig | Dentrix
• Craig Bott | Grow Utah Ventures, MarketStar, E&Y
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“Select” Mentors• Kent Madsen | Managing Director, Epic Ventures• Bradley Bertoch | WBI – Entrepreneur Assessment• Kent Thomas | Founder - CFO• Damon Kirchmeier | Managing Director - Funding• Brock Blake | CEO, Lendio - SBA Loans• Mark Hurst | Founder, Connect - Brand Strategy• Cydni Tetro | EIR, Disney - Social Marketing• John Pestana | CEO, ExactRail - Entrepreneur
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Capital Structure• Investments
– $15,000 per participant company– Up to $15,000 in Value-in-Kind Services– Assigned Investor-Mentor plus 35+ Mentors– Opportunity to attend Investor Day– BoomStart Capital 2011, LLC gets 6% in Common
Stock of participating Company
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Peers• Socialize & interaction with other founders• Office space designed to encourage peer
interaction• Sharing of good, bad, and ugly• Groups discussions in group training• Additional Information Resource
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Value-in-Kind Services • Office Space- Internet, Phones, Desk, Meeting• Infrastructure- Cloud, Software, Curriculum • Professional Services- Legal, Accounting, PR• Canyon Park Technology Center (Orem Campus)• Miller Innovation Center (Salt Lake Campus)• Rent deal
– 3 months free (May 15 – Aug 15) Extension Possible
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Why not?• Simple process• Good exercise to go through• Nothing to lose• 6% for $15,000 cash and up to
$15,000 value-in-kind services
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How to Do More Faster
With Your Technology Startup
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State of the Startup MarketState of the Startup Market• Overall…Best Opportunity in 30 Years…
• Dramatic Improvement in Processes Bus Model Generation / MVP / Agile / Crowd
• Dramatic Decrease in Technology Costs Open Source, Cloud Computing, Platforms
• Dramatic Access To Seed Capital & Terms Launch Conf, Accelerators, AngelList, KickStart
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Minimum Viable Product (MVP)Minimum Viable Product (MVP)
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Leverage Cloud SolutionsLeverage Cloud Solutions
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Agile / Scrum DevelopmentAgile / Scrum Development
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RallyDev: Automated Scrum ToolsRallyDev: Automated Scrum Tools
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Leverage CrowdsourcingLeverage Crowdsourcing
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Speed Mentoring• Pitch your Company in 3 minutes to Investors-
Mentors• Get direct feedback on your idea to see if it’s a
“fit” for BoomStartup• Listen for ways to improve your business
model / solution• Iterate…then come to our next BoomStartup
Speed Mentoring Meetup..and try again!