dobson startup bootcamp 2017

Startup Bootcamp 2017

Maher AyariPresident, Student Executive Team


Professor Gregory B. VitDirector, McGill Dobson Centre for Entrepreneurship


Or sometimes your baby is just ugly

PASSION

The 3 P’s (IDEA) & 3H’s (TEAM) of Entrepreneurship

HACKER

PROBLEM

PIERCING TECH-SCIENCE

HUSTLER

HIPSTER

Renjie ButalidMarketing & Operations Advisor

McGill Dobson Centre for Entrepreneurship


Our entrepreneurship programs are supported by a strong McGill Entrepreneur, Alumni, and Startup Mentorship Network

125 Startupsactive today employing over

1,103 people

$35 million raised by our startups to date

as of 2016

2,200+ McGill entrepreneurs

mentored since 2009

Leading to 70xinitial funding provided

$500K in total initial funding for

McGill Dobson Cupsince 2009

87 judge-mentors actively involved in

McGill Dobson Cup every year

Entrepreneurship Programs

Our entrepreneurship programs are supported by a strong McGill Entrepreneur, Alumni, and Startup Mentorship Network

Innovation Driven EnterpriseSmall and Medium Enterprise

Social EnterpriseHealth Sciences

Over $100,000 awarded to McGill Startups

Innovation Driven Enterprise

Small & Medium Enterprise

Health Sciences

Social Enterprise

Key Dates for McGill Dobson Cup 2017

• December 18, 2016 – January 18, 2017:Applications Open

• February 14-‐17, 2017:McGill Dobson Cup 2017 Semi-‐Finals

• March 22, 2017:McGill Dobson Cup Finals• March 30, 2017: 2017 McGill Dobson Cup Awards Ceremony

www.mcgill.ca/dobsoncup

10-‐Week Summer Accelerator

Montreal | San Francisco | Boston

10-‐Week Lean Startup Program

2016-‐17 Entrepreneurship Events

• September 14, 2016: Innovating with Impact: Building Successful Businesses from Science-‐based Discovery

• September 15, 2016: Kickstart Innovation & Startup Matchmaking

• October 5, 2016: Social Entrepreneurship 101• October 12, 2016: The Future of Technology• October 19, 2016: The Science of Medical Startups• October 26, 2016: Social Entrepreneurship: The Next

Steps• November 9, 2016: Startup & Business Plan Writing

Workshop• November 17, 2016: Build a Startup with McGill

Technology• November 23, 2016: Building Startup Teams & Culture• November 25, 2016: Thinkathon 2016: Disrupt

Montreal• December 5, 2016: McGill Lean Startup Final

Presentations

• December 18, 2016 – January 17, 2016: Application Open for McGill Dobson Cup 2017

• January 7, 2017: Startup Bootcamp • January 11, 2017:What it takes to win the McGill

Dobson Cup • January 26, 2017:Women in Entrepreneurship• February 2, 2017: How to Pitch Your Startup Workshop• February 9, 2017: Public Speaking Workshop • February 14-‐17, 2017:McGill Dobson Cup 2017 Semi-‐

Finals• February 23, 2017:Market Research Workshop • March 7, 2017: Startup Financials Workshop • March 9, 2017: Startup Legals & Protecting Your IP • March 16, 2017: Social Media Marketing for Startups• March 22, 2017:McGill Dobson Cup 2017 Finals• March 30, 2017: McGill Dobson Cup 2017 Awards

Ceremony

For more information on our events, please visit: www.dobsonchronicles.com

2016-‐17 Entrepreneurship Events

Mentorship

Early-stage ideasdobsonset.youcanbook.me

Later-stage startupsdobsoncentre.youcanbook.me

Isaac SouweineGuest Speaker


HOWI GOT INTO STARTUPS, AND HOW YOU CAN TOO

ISAAC SOUWEINE ENTREPRENEUR IN RESIDENCE @ REAL VENTURES

PA RT 1HOW I GO T

IN TO STARTUPS

25

studentonline.com

26

M Y P RO G RE S S IO N

studentonline.com

KE Y E P IS O DE S

27

E P IS O DE 1

28

A CHAN CE EN COUN TERstudentonline.com

E P IS O DE 2THE BIG LEAGUES

29

E P IS O DE 3F ULL CIRCLE

30

PA RT 2HOW YOU CAN

T OO

31

S TAR T

32

T IP #1SOM ETH IN G

TIP #2GET O UT O F T HE

33

BU ILD IN G

TIP #3ASK FO R HE L P

34

BU ILD

35

T IP #4YO UR BRAN D

TIP #5

36

TRUST YO UR IN STIN CT

THA N K YO U!

I S AAC@RE ALVE N TURE S .COM@SO NO F SARAH

37

Today!


Why?


Goals


• Inspiration RoomOR

• Pitch Station

• Business Model Canvas&

• Pitching


Pitch Station Inspiration Room

Format: 30 sec – 3min pitch in front of judges

Location: After the break wait outside Room 151

Format: Idea generation workshops & brainstorm

Location: After the break come back in Room 151


Break


Back at 10:45am

Inspiration Room

Inspiration RoomCommon myths about entrepreneurship

Inspiration Room2 Types of Entrepreneurship

Small & Medium Enterprise• Local Market

• Innovation is not a competitive advantage• Businesses with very little external capital

• Grows at a linear rate

Innovation Driven Enterprise• Global markets

• Company is based on some sort of innovation• Diverse ownership (external capital)

• Risky but potential for exponential growth

Inspiration Room3 ways to launch a business

Invention*Commercialization = Innovation

Try to learn as much as possible and be exposed to new things

New way to improve existing process

Inspiration RoomForming a Team

Hustler

Hacker

Hipster

Inspiration RoomBrainstorm the following:

Uber/Airbnb for… (pick one)

Flowers; Nightclubs; Laundry; Bulked goods; Doctors; Shipping; Laguage Tutoring; Group Fitness; Hotel Lounges; Truck Drivers;

Dog Walking; Beauty Services; Massages; Ice Cream; ...

Answer the following questions

What’s the problem you are solving?What’s the solution to that problem?

Who are the customers?How big is the market?

Why are you THE team that can make it happen?

#1 #2

#3

LunchUntil 1pm


Renjie ButalidMarketing & Operations Advisor

McGill Dobson Centre for Entrepreneurship


The Business Model Canvas

Innovation Driven Enterprise Small & Medium Enterprise

Health Sciences

1. Value Proposition2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Other Consideration

5-page business plan

Social Enterprise

1. Concept2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Social Impact8. Other Consideration

Innovation Driven Enterprise Small & Medium Enterprise

Health Sciences

1. Value Proposition2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Other Considerations

5-page business plan

Social Enterprise

1. Concept2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Social Impact8. Other Considerations

“A business model describes the rationale of how an organization

creates, delivers, and captures value”

In other words,

How do you plan on making money?

The Business Model Canvas is simply a tool to create & analyze business models

9 Building Blocks

Steve Blank page 57 of 212 4th edition Jan 2014

Business Model Canvas

Business Model Canvas: Apple

Business Model Canvas: LinkedIn

Phase 1Business Model Canvas

Phase 2TEST PROBLEM

Phase 3TEST SOLUTION

Phase 4Pivot or Keep going

What is a Value Proposition statement?• A short, memorable description of:

• what you do• what problem you solve• and why anyone should care

• Focused on your target customer• Based on a deep understanding of their problem / job they are

trying to accomplish• It should evoke emotion in your target customer• Your target customers should just “get it” and say “tell me more” • Your target customers should paraphrase your value proposition to

describe you to others

Why do you need one?

For the marketplace• The description that attracts your target into your sales funnel,

creates excitement and gets people to pay attention

For investors• The description that tells investors that you have a focused and

clear understanding of the customer and the problem you can solve, and that it is significant and worthy of investment

For yourself• Your mission statement that clarifies why you exist from a

customer’s perspective

The problem if yours sucks

Customers and prospects• Won’t understand what you do• Won’t be able to differentiate you from your competition• Won’t care

Investors• Won’t be convinced that you understand your customer• Won’t be convinced that you have a focused approach to the market• Won’t be convinced that you can make them money

You and your team• Won’t have a clear sense of mission• Won’t understand why you exist and will therefore oscillate around strategy

How to create an awesome value proposition

Always start with the customer

• Make sure you have a deep understanding of exactly who your target customer is

• Make sure you deeply understand what their problem is and how much pain it causes

• Make sure you know the level of motivation they have to seek out your solution

If you are struggling… … to create an awesome value proposition

• Maybe you don’t yet really understand your target customer

• Maybe you don’t really understand their problem/job and motivations

• Maybe your solution isn’t fully formed• Maybe you haven’t figured out how it benefits your

customer• Maybe your business needs to pivot

Steve Blank’s XYZ

“We help X do Y doing Z”

“We help e-commerce websites increase their sales through A/B

testing, surveys and personalization.”

Geoff Moore’s Value Positioning Statement

For______________________________(target customer)

who______________________________(opportunity)

is a ______________________________(company name)

that ______________________________(benefit statement).

Dave Cowan’s Pitchcraft

(Your solution to market need) and our product is (use metaphor for something people already know).

We are bringing trust to cyberspace, and our first product is a Driver’s License for the Internet.

Eric Sink’s Value Positioning

1. Superlative (“why choose this product”).2. Label (“what is this product”).3. Qualifiers (“who should choose this product”)

The most secure payment gateway for mobile e-commerce.

Venture Hacks’ High-Concept Pitch

[Proven industry example] for/of [new domain]

AirBnB for office space (Breather)The Walmart of health food stores.

Renjie [email protected]

McGill Dobson Centrefor Entrepreneurship

www.mcgill.ca/dobson

dobsonchronicles.com

Break


Finalize your pitch!

• Problem• Problem Size• Solution• Market Size• Competition• Team

• Call to ActionStartup Bootcamp 2017

Pitching!Provide feedback !

Fill out the following:

• Name of the startup/person:

• Provide positives (+):

• Things you would change:

• Additional questions/ideas:


Thank you to the entire Student Executive Team, Carol Clelland, Renjie Butalid, Professor Gregory Vit and Isaac Souweine

Positions available in the Student Executive Team!Come talk to us!

What’s Next?

• What it takes to win the McGill Dobson Cup: Jan 11th

• Apply to the McGill Dobson Cup 2017: Deadline Jan 18th

• Women in Entrepreneurship: Jan 26th

• How to pitch your startup: Feb 2nd

• Public Speaking workshop: Feb 9thand much more!

mcgill.ca/dobsonwww.dobsonchronicles.com


dobson startup bootcamp 2017

Education