15th Annual Edward L. Kaplan New Venture Challenge Kickoff

1. 15th Annual Edward L. KaplanNew Venture ChallengeKickoff Steven N. Kaplan, Faculty Director, Neubauer Family Professor of Entrepreneurship and Finance Linda Darragh, Director of Entrepreneurship Programs, Clinical Professor of Entrepreneurship November 8, 2010

2. Agenda

3. Edward L. Kaplan New Venture Challenge

4. History 1997-2010

5. How it works: Entry Rules and Guidelines Team Composition At least one currently registered student at Chicago Booth � campus or part-time. At least one student needs to be a founder / integral member of the team. Student cannot be a consultant. Student cannot be a minor player. Size of team: no minimum or maximum Originality of Business Ideas Generally idea should be original Business plans for early stage ventures may be acceptable if: a Chicago Booth student is a founder; or a Chicago Booth student is in senior management team of the venture; and company has not already received funding from venture capitalists or other institutional investors. Outside funding from friends, family and other individual investors up to $500,000 is acceptable. Business plans that have participated in the past as part of other university business plan competitions are not eligible unless approved by one of the NVC faculty or coaches.

6. How it works: Entry Rules and Guidelines Continued Protection of Intellectual Property The University, sponsors, and organizers of the NVC have taken all reasonable measures to assure that all contestants retain their rights to the Business Plan and Intellectual Property. The protection of these rights is the ultimate responsibility of each contestant. Contestants are urged to mark as CONFIDENTIAL any portion of their Entries, which they consider to be proprietary, or of a sensitive nature. Equity Agreements If the team wins prize money, the members will enter into an equity agreement whereby the award converts to a pro rata equity share for Chicago Booth in the new business if the company receives funding or enters into a business combination transaction, which receives financing. Deadlines Timelines for submission of feasibility summaries (Feb. 7, 2011) and full business plans (April 29, 2011) are not flexible. These are strict deadlines.

7. Important Dates Fall Quarter 11/8/10 NVC Kickoff, followed by networking event 11/20/10 NVC Gleacher Center Saturday Kickoff Winter Quarter 01/06/11 Workshop � How to Write a Feasibility Summary Harper Center, Classroom C-25, 6-8 pm 02/07/11 Phase I feasibility summaries due at 10 am to Harper Center, Room 207 02/24/11 Announce teams that will advance to Phase II 02/28/11 Orientation Session for Phase II teams Harper Center, Classroom C-25, 6-8 pm Spring Quarter 03/28/11 BUS 34104 Developing a New Venture course begins 04/29/11 Full business plans due at 10 am to Harper Center, Room 207 05/20/11 Announce teams that will advance to Phase III Finals 05/26/11 Finals at Harper Center, Classroom C-25

8. NVC Timeline First round: Feasibility Summaries Due February 7 Maximum of 8 pages Notified Feb. 24 Second Round: Develop full Business Plan In conjunction with Bus. 34104 taught by Kaplan and Rudnick Classroom coaches Deutsch, Darragh, Rosenberg, Henikoff First session Feb. 28; class formally begins Mar. 28 Teams present plans in class twice to entrepreneurs and VCs Feedback is brutal but incredibly helpful Course is a lab course, not a lecture course. Provides an environment and resources to develop and greatly improve your business ideas. Highly Rated Class and Process Final Round: 8+ teams present to judges on May 26

9. Global NVC This will be the 4th year of the Global NVC EXP and AXP students and alumni take online classes US Executive MBA students may participate in traditional NVC On a different timeline --- began this month Finals in Chicago in March Winner of this competition may advance to the NVC finals on May 26, 2011

10. Social NVC First year for the Social New Venture Challenge What is a Social Venture? Sacrifice some profit for social impact less than 10x returns Community development, education, orphan drugs, global health & poverty alleviation, environmental SNVC Kick-off: November 10 5:00 pm C03 Feasibility summaries due: February 7 Announce Phase II teams: February 24 New Social Ventures class: begins Tuesday, March 29, 2011

11. What Goes Into a Feasibility Summary? What is the business opportunity? What problem is it solving? Who is the customer? How large is the market for this product? Who are the other competitors or competing technologies? How will you make money? What is your strategy? Who is your team? Why will this succeed? Be concise. Use simple language. Feasibility Summary workshop on January 6th will discuss in more detail Sample summaries on NVC website

12. Why You Should Participate NVC and course give you time to focus. NVC and course will improve plans a great deal. Access to judges and resources. Judges provide contacts / $. Idea will not be stolen. Most plans / ideas seen by many. If it is easy to steal, it is not worth doing anyway. Has never been a problem. You will learn a huge amount about how to evaluate and start a business.

13. NVC Website

14. Team Formation and Networking http://linkd.in/NVC2010

15. NVC Faculty and Coaches Steven N. Kaplan Neubauer Family Professor of Entrepreneurship and Finance, Faculty Director of the Polsky Center for Entrepreneurship Ellen A. Rudnick Clinical Professor of Entrepreneurship, Executive Director of the Polsky Center for Entrepreneurship Troy Henikoff Serial entrepreneur, cofounder and director of Excelerate, cofounder of Sure Payroll Bob Rosenberg Associate VP Public Affairs Communication, Chicago Booth Adjunct Professor Waverly Deutsch Clinical Professor of Entrepreneurship

16. NVC Kickoff Panelists Bob Rosenberg Associate VP Public Affairs Communication, NVC coach and Chicago Booth Adjunct Professor Brian Luerssen NVC Finalist, 2010 Jason Pariso NVC 3rd place winner, 2010 Uzi Shmilovici NVC 2nd place winner, 2010 Namit Yadav NVC participant, Excelerate company, 2010 Carolina Zuleta NVC finalist, 2010