e -Teams NSF Lean LaunchPad

1. e-TeamsNSF Lean LaunchPad Session 1 - Introduction January 14 and 16 University of Toledo Ariss/Entrepreneurship Cohen/Business Law Fournier / BioE Senior Design

2. Lean LaunchPad • National Science Foundation (NSF) funded program • Program Developed in conjunction with the National Collegiate Inventors and Innovators Alliance (NCIIA) • Inter-disciplinary (combining different fields of study) • 30 Teams annually • Up to $1,000 per team to use to develop prototype • Includes book materials • Prototype funding opportunities beyond class (SBIR / STTR) • Follow the LeanLaunch curriculum – Process that describes the “sell then build” philosophy of building an enterprise.

3. Over Arching Theme • Technology Start-up companies are not like big companies. • Start-up companies do not have the time or resources to pursue concepts that the market does not want or need. • Start up companies will fail 90% of the time – and if a company is destined to fall into that 90% fail category, then fail fast to avoid wasting precious resources. • Thus, Start-ups should go through a rigorous process to determine as fast as possible if it is destined to fail (or conversely, SUCCEED!) • The process: Lean LaunchPad.

4. Curriculum OverviewTaken directly from the Business Model Canvass • Value Proposition – What are you building and for who? • Customer Segments – users, influencers, recommenders, decision makers, economic buyers and saboteurs. • (Sales/Distribution) Channels – Direct, Indirect, OEM etc. • Customer Relationships – Sales cycle and how do we get customers into the sales channel. • Revenue Streams – Strategy to generate cash from each customer segment (upfront fees, licensing, subscription). • Key Resources – What physical, financial, human or intellectual assets do you have available to make your company successful. • Key Partners – External companies whose products are services combine with your value proposition to create a complete solution to satisfy your customer. • Key Activities – What are you doing everyday to make your business successful. (In this class, develop value proposition, identify customer segments, create surveys, contact customers) • Cost Structure – What are the costs involved in delivering your product and or service – both fixed and variable.

5. Business Model Canvass • http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdf

6. Value Proposition • Assignment 1 • What are you building and for who? • Define and Design your eTeams value proposition

7. Customer Segments • Assignment 2 • What is your Customer Segments • Identify 100 potential companies that would be in your Customer Segments

8. Create Survey • Assignment 2 b • Design a survey for your Customer Segment

9. Primary Market Research • Contact your customer segments • Survey • Record Data • Report Data

10. Form eTeams • Prior to the end of this session, each student should be assigned to a team • Schedule interaction • Divide Tasks • Plan • MAKE SURE TO SUBMIT A LIST TO YOUR PROFESSOR OF ALL THE MEMBERS ON YOUR TEAM. The format is on the next slide, copy and past into excel.

11. e-Team List Format

12. Online Resources • Lean LaunchPad • http://www.slideshare.net/sblank/lean-launchpad-educators-handbook-sept-2013 • Business Model Canvass • http://www.businessmodelgeneration.com/canvas