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University of Washington. From Invention to Start-Up. Seattle Is a Great Place to be an Entrepreneur! Connie Bourassa-Shaw CIE. You’re Lucky to Live in Seattle Entrepreneurial culture. History of scrappy entrepreneurs. 9,974 new licenses in WA in Oct. 2008 (Seattle Times)
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University of Washington From Invention to Start-Up Seattle Is a Great Place to be an Entrepreneur! Connie Bourassa-Shaw CIE
You’re Lucky to Live in Seattle Entrepreneurial culture. History of scrappy entrepreneurs. 9,974 new licenses in WA in Oct. 2008 (Seattle Times) Reputation. Seattle—and the state—in the news! • #1 (#2) America’s Smartest City (Bizjournals.com) • #3 in “Best States for Business” (Fortune) • #1 in new start-ups (SBA) • #1 in start-up failures (SBA) • Top 10 states in patent applications (Kauffman) • #1 in “100 Best Places to Live and Launch” (CNN Money) A Community of Entrepreneurs
A Community of Entrepreneurs You’re Lucky to Live in Seattle Reputation. America’s Top States for Business (CNBC) Companies go where the money is • WASHINGTON • Cost of Business 35 • Workforce 37 • Economy 11 • Education 17 • Quality of Life 9 • Tech and Innovation 6 • Transportation 22 • Cost of Living 36 • Business Friendliness 34 • Access to Capital 4
A Community of Entrepreneurs Support for early-stage entrepreneurs.Northwest Entrepreneur Network, MIT Enterprise Forum, TiE, Six-Hour Start-Up, Seattle Tech Start-Up, and industry associations WTIA, WBBA Angel groups.Alliance of Angels, Keiretsu Forum, ZINO Society, Puget Sound Venture Club, Seraph, Energy Angels Venture capital firms.More than 35 at last count.http://www.bschool.washington.edu/cie/vc.shtml A talented pool of workers.And professionals A strong media.Start reading John Cook (PSBJ) now! “Anchor tenants.”Nordstrom, Microsoft, Boeing, Costco, Amazon, Starbucks, RIE (where’s bio-tech?) University of Washington and PNNL. Research powerhouses.
Center for Innovation and Entrepreneurship • Mission:Integrate entrepreneurship into the fabric of the University of Washington; promote learning and discovery in entrepreneurship and innovation • Curriculum • Activities and EventsEntrepreneurWeek UW,Business Plan Competition, Science and Technology Showcase (with SEBA), Entrepreneurial Law Clinic, LaunchPad (with TechTransfer), WRF Fellows, “From Invention to Start-Up” series, Springboard • Resources for Early-Stage Entrepreneurs • Research Symposium in Technology EntrepreneurshipUW, Stanford, USC, UC Irvine, and University of Oregon
Center for Innovation and Entrepreneurship Entrepreneurship Curriculum • Undergraduates (20 credits)12 percent of undergrads take at least one ENTRE course— Novel feature: “Creating a Company” experience • MBAs and Technology Entrepreneurship Certificate(18)88 percent of MBAs take at least one course— 74 TECs (non-business graduate students) from across campus in the ENTRE classes with our own MBAs— Novel: Technology Commercialization Practicum • PhD in Technology Entrepreneurship(future faculty)One of a handful of programs in the country
Business Plan Competition • Real-Life Experience in a Non-Fatal Environment • Science and Technology Showcase(Fall Quarter) Early Networking across campus • Resource Nights(Winter Quarter)The information you need to put together your team, your business plan, your presentation, your pitch, and your answers to the judges’ questions. • Screening Round (April 2, 2009) 5 to 7 page Executive Summary, feedback for the teams. 30-32 teams • Investment Round ( April 28)1 page Exec Summary, Trade show/Science Fair format, Students make quick pitches to 150 entrepreneur/investor judges. 16 teams advance.
Business Plan Competition • Real-Life Experience in a Non-Fatal Environment • Sweet Sixteen Semi-Final Round(May 21) Full 12-15 page business plan; full presentation and 10-minute pitch in a closed session; judges advance 4 to 6 teams • Final Round (May 21)Full presentation and 10-minute pitch to an open audience; 7 entrepreneur judges decide awards • Dinner and Awards (that evening)Grand Prize—$25,000 in seed fundingIn all, $70,000-$75,000 awarded to students • In 11 years, 2,010 students have participated in the BPC, and 71 teams have received seed funding of $757K. More than 26% of competitors have started their companies. NETWORKING
Other Activities and Resources • Entrepreneurial Law ClinicLaw and business audits for very early-stage (pre-launch) technology companies. Students, practicing attorneys, and mentors work with non-UW companies throughout the year. • TechTransfer’s LaunchPadLaunchPad was designed to move market-ready inventions out of TechTransfer as quickly as possible. WRF Fellows [MBAs and TECs] work with faculty inventors, tech managers, and mentors from the community. • From Invention to Start-Up Videoswww.inventiontostartup.washington.edu • UW Environmental Innovation ChallengeThe intersection of environmental problems, their solutions, and entrepreneurial opportunities. http://eic.washington.edu