the university startups demo day: identifying and ...ncet2.org/images/basn/usdd2017.pdf · ipo /...

The University Startups Demo Day: Identifying and Developing Successful University Startups

The National Council of Entrepreneurial Tech Transfer

GLENN VONK, PH.D. Director of Business Development and Alliances Startup Development Officer, NCET2 (Former BD Director of Advanced Technology)

BACKGROUND

For over 2 years, NCET2 worked with over 25 Fortune 500 companies to create a university-corporate commercialization program that takes university IP and startups from creation to corporate exit.

FEDERALLY FUNDED R&D AT FEDERAL LABS ($93 Billion)

IPO / CORPORATE BUSINESS UNITS

FEDERALLY FUNDED R&D AT UNIVERSITIES ($37 Billion)

OUTBOUND CORPORATE R&D

RESEARCHER-ENTREPRENEURS

(UNIVERSITY STARTUP CREATION)

GAP FUNDING

STARTUP R&D TAX CREDITS

SBIR FUNDING

CORPORATE COMMERCIALIZATION CENTER (CCC)

ANGELS VCs

CVCs

PRIVATE FUNDING

INNOVATION DISTRICTS INNOVATION

DISTRICTS INNOVATION DISTRICTS INNOVATION

DISTRICTS INNOVATION DISTRICTS

STARTUP DEVT

OFFICERS

UNIVERSITY STARTUP

PROGRAMS

This chart, the CCC, and the information presented here are the property of NCET2.

©June2017Contact NCET2 if you wish to

share or disseminate this slide: [email protected] | http://ncet2.org

GLOBAL 1000 CORPORATE COMMERCIALIZATION COUNCIL

(NCET2 CORPORATE MEMBERS) (COORDINATION CENTER)

AMERICAN-CHINESE UNIVERSITY

GROWTH FUND UNIVERSITY

ANGELS







GAP FUNDING


SBIR FUNDING


ANGELS VCs

CVCs

PRIVATE FUNDING




STARTUP DEVT

OFFICERS

UNIVERSITY STARTUP

PROGRAMS






ANGELS

Phase 0: University IP to University Startup Program









GAP FUNDING


SBIR FUNDING


ANGELS VCs

CVCs

PRIVATE FUNDING




STARTUP DEVT

OFFICERS

UNIVERSITY STARTUP

PROGRAMS






ANGELS

Phase 1: University Startups Demo Day









GAP FUNDING


SBIR FUNDING


ANGELS VCs

CVCs

PRIVATE FUNDING




STARTUP DEVT

OFFICERS

UNIVERSITY STARTUP

PROGRAMS






ANGELS

Phase 2: SBIR/STTR Funding









GAP FUNDING


SBIR FUNDING


ANGELS VCs

CVCs

PRIVATE FUNDING




STARTUP DEVT

OFFICERS

UNIVERSITY STARTUP

PROGRAMS






ANGELS

Phase 3: University Startups Roadshows and Exits



VICTORIA SCARBOROUGH, PH.D. Startup Development Officer NCET2 (Former Sherwin Williams External Technology Director)

ABOUT The USDD

•  The USDD program is an industry-created program

•  The USDD presents an unprecedented opportunity for corporate open innovation and venturing groups, VCs, and angels to discover, review, partner with, and fund university startups.

WHAT IS IT?

•  Every six months, the University Startups Demo Day engages with over 100 universities to accept 200 of their best university startups

•  Startups are scored by a Corporate Selection Committee consisting of Fortune 500 companies.

•  These double-curated startups by academia and industry represent the very top startups coming out of American universities that are industry aligned.

ELIGIBILITY

•  Must be a startup. •  Open to North American universities and startups/

companies. •  Startups must be affiliated with a university.

TYPES OF STARTUPS

•  Seed and Startup – Demo Day with corps and investors – more than 4 years from M&A or IPO

•  Series A/B – Roadshow showcase to angels and VCs – 2-4 years from M&A or IPO

•  Exit-ready – Ready for Corporate Exit –  less than 2 years from M&A or IPO

SUBMIT YOUR STARTUP https://ncet2.org/SubmitStartup

•  Company Description •  University Affiliation •  TRL and CRL •  Technical Area •  Value Proposition •  Management Team

profiles •  IP Status •  Funding

•  Important reminder –  Do not include proprietary

information in your submission

•  Download a sample of the application from: https://www.ncet2.org/demo-day/usdd3.html

•  (PDF will also be emailed to you)

CORPORATE REVIEW

•  Corporate members will review information

•  Best scoring startups will be awarded a presentation slot and be part of the Startup Development Program

•  Opportunity for discussion with corporates who have interest in the startup during & after the meeting

Technical Areas

HOW WILL STARTUPS BE SCORED?

•  Startups will be scored by NCET2 Corporate Selection Committee

•  Highest possible score of 150 –  Management Team (best possible score, 30) –  Technical Feasibility (best possible score, 30) –  Commercial Feasibility (best possible score, 20) –  Strategic Fit (best possible score, 30) –  Product Attractiveness/Reward (best possible score,

20) –  Operational Challenge (best possible score, 20)

UNIVERSITY BENEFITS FROM DEMO DAY

•  Global exposure for your university with multi-national companies; Corporate connection/set-up relationships

•  University startups have access to meet 1:1 with corporates who have strong interest in their technology

•  Startup development – Startup Development Officers

•  Set-up corporate milestones •  Set-up funding milestones (SBIR, Angel, VC)

TONY STANCO Executive Director NCET2

NCET2 Startup Development Process

•  The USDD is the first part of a devt process. •  The Startup Development Program assists

Demo Day startups with milestones and funding for corporate exits and IPO.

•  Our Startups Development Officers are ex-corporates, mentor-angel investors, and ex-university tech transfer officers.







GAP FUNDING


SBIR FUNDING


ANGELS VCs

CVCs

PRIVATE FUNDING




STARTUP DEVT

OFFICERS

UNIVERSITY STARTUP

PROGRAMS








ANGELS

(Draft) Commercialization Readiness Levels

CRL Technical Milestones Business Milestones Funding Milestones

0 Research Validated Opportunity Validated; corp. license if applicable Public Research Grants

1 Startup and Technology development plan

Startup created, management team. IP licenses, Legal issues settled

Public / Private

2 Market and Technical feasibility established

Business plan validated at level 1 (accelerator) and level 2 (CCC)

Public: SBIR / STTR Ph 1; other public sources

3 “Works-Like” laboratory Proof of Concept

Key corporate advisors in hand; pharma target validated Public; Ph 2 SBIR / STTR, other

4 “Works-like” operational Prototype Commercialization plan updated incl. competitive update; tech landscape; preclinical validation and safety profile

Public; Ph 2 SBIR / STTR, other

5 Operational Product Development and Launch

Funding for manufacturing/organizational development; human clinical validation

Public; Ph 2B SBIR / STTR, other; Angel. Pharma: corp./VC/Angel

6 Sales/Service / support/Scaling

SSGNA in place $0-1 million Revenues

Angel / VC / Corp

7 Sales/Service / support/Scaling $1-5 million Revenues Angel - VC / Corp

8 Sales/Service / support/Scaling $5-10 million Revenues VC / Corp

9 Sales/Service / support/Scaling $10-25 million Revenues

VC/Corp

10 Sales/Service / support/Scaling >$25million Revenues

Exit / IPO

Exit Route 1: IP to Angel to Corporate Exit

•  Need to get to some proof of sales •  No need for large-scale manufacturing and distribution build-out •  Corps will cover global manufacturing and distribution •  Mostly angel funding or small VCs •  Less than $5M in all rounds

3-5 YEARS CRL 6/7 $25-50M

IP EXIT ANGEL

Exit Route 2: IP to Angel to VC to Corporate/IPO

•  IPO exit or large corp M&A exit •  >$25M sales •  Annual sales growth of 30-100% •  Need millions in manufacturing and distribution build-out •  Need millions from VCs

5-10 YEARS CRL 10 $1B unicorn

IP IPO ANGEL VC

Case Studies of USDD

University Experience

STEVE NAPPI Associate Vice President for Technology Commercialization and Business Development Temple University

HELENA WISNIEWSKI, PH.D. Vice Provost for Research University of Alaska Anchorage

HOW TO ASK QUESTIONS•  Q&Awillbeheldattheend•  Typeyourques7onsintheQues7onsBoxofyourGoToWebinarControlPanel

DISCUSSION & QUESTIONS?

Contact us: [email protected] | http://ncet2.org

3 PROGRAMS HIGHLIGHTED AT THE EVENT 1.  University Startup Demo Day

•  Submit startup companies to gain presentation slots at conference and have meetings with interested corporates and investors

2.  IP2Startup Program •  Submit IP/Patents to be scored by corps and will be included in IP

Book for distribution to corps 3.  Investor Roadshow

•  American-Chinese University Fund ($1B)

SUBMITYOURSTARTUPANDIP

EarlyDeadline:July14,2017

FORSTARTUPS•  Presenta7onslotattheOct2017

DemoDay•  Recogni7onasoneoftheBest

UniversityStartupsfor2017•  AccesstoleadingFortune500/

Global1000CorporateVentureCapitalistsandOpenInnova7on,VCs,andAngels

SUBMITHERE:hRps://ncet2.org/SubmitStartup

FORIP•  BefeaturedintheIPBook•  Feedbackandscoringof

technologyformarket-alignmentandrelevancetoindustry

SUBMITHERE:hRps://ncet2.org/SubmitIP

SUBMIT EARLY!

Stats from last 2 Demo Days show that the highest scoring companies come from earlier submissions

•  2/3 submit 1 week before a deadline, 1/3 get selected

•  A little bit puzzling, we are not sure why. •  Our guess is:

•  Corporates have more time to look at the earlier companies

•  Good management team manage their time better and don’t rush things doing them last minute

UPCOMING WEBINARShttps://ncet2.org/webinars

•  June 21, 2017, 1pm ET Creating a University Angel Group to Fund Your Student, Faculty, Researcher and Alumni Startups (Co-organized with Kent State University's College of Business Administration)

•  Starts on June 22, 2017, 1pm ET/10:00 AM PT Corporate Needs Broadcasts

•  June 28, 2017, 1:00 PM ET/10:00 AM PT Corporate Open Innovation And Venturing In Practice

the university startups demo day: identifying and ...ncet2.org/images/basn/usdd2017.pdf · ipo /...

Documents