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Texas Venture Labs
McCombs School of Business The University of Texas at Austin
Company Information Session
5/15/2014
Mission
1. Accelerate UT and Local Startups
• Help raise capital
• Bring products to market
• Develop a growth strategy
2. Transform UT Graduate Students
• Create and inspire future entrepreneurs and business leaders
3. Create a Community
What is Texas Venture Labs?
Texas Venture Labs
Texas Venture
Labs Practicum
New Venture Creation
(NVC)
Venture Labs
Investment Competition
TVL Scholarship
Program
Accenture Venture Partner Program
Texas Venture Labs Practicum
What is the Texas Venture Labs Practicum?
Accelerator Organization Course
• Focus on entrepreneurship
• Students learn from top professors
• Work with local entrepreneurs
• Gain skills to help with projects for startups
• Startups partnered with with graduate students from across campus (MBA, Pharmacy, CNS, Engineering and Law)
• Create, supervise consulting projects based on real company challenges
• Students gain experience and apply your knowledge outside the classroom
• Get to know entrepreneurial-minded students from multiple degree programs
• Experience Austin entrepreneurial resources and events
How does it work?
Present startup to students of
first day of class
Assigned a cross-functional team (typically 2 MBA,
1 Law, 2 Technical) of graduate
students
Meet regularly with students to
complete consulting projects (receive
~500 hours of grad student work total).
Receive final deliverables from
team
Pitch startup at Venture Expo, an exclusive event
for "Investor Ready" ventures
Company Stages
Early Stage Growth Stage
• Usually pre-revenue • Typically <$50k raised • At least one full time employee Typical Projects: • Market research for commercial
viability • Target customers for product or
service • Go/No go decision for a startup
• Some revenue (often <$1M) • Raised some external funding • Typically have at least 1 non-
founder on team Typical Projects • Improved marketing strategy • Competitive analysis and
differentiation research • Best practices for sales, marketing,
and legal functions.
Project Focus Areas
Business Model Assessment
Market Validation
Competitive Analysis
Financial Analysis
Funding Guidance
Helped Moniker Guitars get their statements in order and analyze the information to validate their pricing model.
Examined the marketability of Kin Valley as a social media platform and worked with them to shift to a data-based business model.
Worked with Admittance Technologies to research three potential applications for their product, ultimately determining that one was viable and two were not.
Assisted Farmhouse Delivery in identifying their five-year growth potential based on different funding options (VC, Angel, Loans, Bootstrap).
Looked into competitors and substitutes for Jurify and found they did not provide enough differentiation to gain funding.
TVL in Action
Fall 2010 Spring 2011 Fall 2011
Atonometrics Hurricane Party
Hyperware M87
Ovna Medical ThaTrunk
Akimbo Digital Harmony Games
RayDyne Energy Salient Pharmaceuticals
Televero Health Vocal Media Zilker Motors
Alafair Biosciences eCampusTutors
Infochimps Mass Relevance
SpectraPhase Xeris Pharmaceuticals
TVL in Action
77 companies • Over 41% funded • Over $203 million raised
Spring 2012 Fall 2012 Spring 2013
Clear Technology Systems Enerlyte
Gametime Arena Terra Pave Titralyte
Vecturalux
Escapaide EyeQ
Health Information Associates
Jurify Nuventix Paybook
TeVido Biodevices Unique Influence
Admittance Technologies Altogen Labs
Carnegie Design Systems Cellular Machines
IncentTo Infinite IO
Vampire Labs
Company Evaluation
What we look for while evaluating companies:
1. Good fit for TVL
Projects in line with TVL expertise
Students will be interested in the company
2. Able to provide a good student experience
Willing to work closely with students
Will attend important accelerator events
First day of class, mid-semester update, Venture Expo, etc.
Benefits of the accelerator
1. 400-500 man hours of multi-disciplinary, talented grad student work
2. Opportunity to pitch your startup at “Investor ready” Venture Expo
3. Access to TVL resources and larger Austin-based entrepreneurial community
4. Wide range of potential projects for most business challenges, not limited to fundraising
5. TVL takes no money or equity.
Application Process and Timeline
Application Currently Live at
bit.ly.com/ApplyTVL2014 1. Submit basic company information online
Due: June 15, 2014
2. Interview with TVL staff
Rolling interviews
Completed by: June 25, 2014
3. Selections communicated: July 1, 2014
4. First Day of Class: September 9, 2014
Questions?
Apply online at http://bit.ly/ApplyTVL2014
Learn more at http://bit.ly/TVLaccelerator