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Ideas, Business Plans, and Entrepreneurs

Explore the evolution of Micro-LIDs™ and Micro-SLAMs™, cutting-edge semiconductors with unmatched reliability and size reduction benefits. Join industry experts to uncover entrepreneurial wisdom and investment opportunities in Nashville. Presented in Sep 2000 by Bob Allen, Calley Hardin & Paul Clayton.

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Ideas, Business Plans, and Entrepreneurs

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  1. Presented to: VU-BME272 Sep 19,2000 Ideas, Business Plans, and Entrepreneurs by Bob Allen, Calley Hardin & Paul Clayton Nova Bionics, Inc. Nashville, TN

  2. or... Perils, Pitfalls, and Pleasures of the Entrepreneur

  3. Discussion Topics • Ideas and where they come from • Micro-LIDs™ and Micro-SLAMs™ • Business Plans and why we need them • Entrepreneur wisdom • VU graduate’s perspectives Sep 2000

  4. Ideas are… Idea Overview • The product of mental activity and imagination • The basis of creativity • The result of reason as opposed to perception • A plan of action or a path to follow “Ideas are like rabbits, you get a couple and learn to handle them and pretty soon you have a dozen.” …John Steinbeck Sep 2000

  5. Micro-LIDs™ to Micro-SLAMs™ 1966 LID Semiconductors • Very small size and weight • Ultra reliability • Eliminate custom charges • Cost-quantity advantage 1992 Micro-LID™ Arrays • Multi-chip semiconductors • High density-surface mount • Biomedical industry need 1999 Micro-SLAMs ™ • Near chip-scale (85%) • Reduced height • Custom configuration

  6. Micro International, Inc. Nashville, TN USA What are Micro-LIDs? • Acronym: LID- Leadless Inverted Device • Leadless, ceramic, surface mount semiconductors • Very small size and low weight • Environmentally rugged - wide temperature range, high shock/vibration, etc. • Excellent radio-frequency characteristics

  7. Micro International, Inc. Nashville, TN USA What are Micro-LIDs? • Single-chip and multiple-chip format • Replaces circuits containing 2-8 individually packaged semiconductors with a single surface- mountable component • Originally pioneered by NASA research engineers in the 1960’s (R.V. Allen, S.V. Caruso) • Niche markets which have over-riding needs for ultra-reliability, small size, and low weight

  8. Entrepreneur Wisdom Says... Do not check your mail while on vacation or the day before you close on your new house. December 29 1998...

  9. Entrepreneur Wisdom Says... Never give up... Problems only create opportunities Major customer facilitated problems force rapid, widespread, and long-lasting solutions ..... Always Maintain the Chase

  10. Micro International, Inc. Nashville, TN USA What are Micro-SLAMs? • Acronym: SLAM- Surface Level Active Microcircuit • Near chip-scale leadless, ceramic, surface mount semiconductors • Ultra small size and low weight • Environmentally rugged - wide temperature range, high shock/vibration, etc. • Replaces circuits containing 4-16 individually packaged semiconductors with a single surface-mountable component • Technology provided as a “merchant” component product line by Micro International and Quadtron

  11. Micro International, Inc. Nashville, TN USA Hex Zener Assembly • Micro-SLAM • .080” x .090” x .040” • 7,200 sq mils • Micro-LID • .160” x .090” x .055” • 14,400 sq mils Size Reduction 50%

  12. Micro International, Inc. Nashville, TN USA Quad Diode Assembly • Micro-SLAM • .055” x .070” x .040” • 3,850 sq mils • Micro-LID • .160” x .090” x .055” • 14,400 sq mils Size Reduction 73%

  13. .090 x .160 .060 x .090 .100 x .120 per diode .040 x .075 per diode Quad Diode Array Reduction Single Leaded Diodes Single Micro-LIDs Multiple-chip Micro-LID Multiple-chip Micro-SLAM Multiple-chip Micro-SLAM assembly reduces component square area by 88.75% over single leaded diodes.

  14. Entrepreneur Wisdom Says... Know whether you are going up or down the entrepreneur hill and be prepared to give up TOTAL control to expand your resources Teamwork Limits Myopia...

  15. Entrepreneur Wisdom Says... Avoid passion driven pleasures in uncharted waters and isolated islands Carefully Verify New Markets...

  16. Micro International, Inc. Nashville, TN USA Direction & Decision • To provide higher value-added micro-components and assemblies for biotelemetry products • Natural high reliability application of micro-components • Opportunity to modernize factories and relocate them to Nashville • Broadens recognition among customer base and the technical community • To become intimately involved with new VU facilitated biomedical initiatives (VU Office of Enterprise Development)

  17. Philosophy • Deal Model • Build on existing ideas • Catalyze new ideas • Participate in “Vision” Creation • Strategy • Structure • Involve Student Interns • Due Diligence • Deal Evolution Sep 2000

  18. Investment Parameters • PRE-SEED CAPITAL • Up to $300,000 per project • No matching funds required • Use: • Due Diligence • Business Plan • Recruit Management • Reduction to practice • Proof of principle • Alpha Demo Sep 2000

  19. Investment Parameters • SEED CAPITAL • Up to $2M per project • At least a 50% match from third-parties • Use: • Establish Business Infrastructure • Refine Technology and Product • Initiate Regulatory Approval • Marketing & Sales • Working Capital Sep 2000

  20. Portfolio – Seed Deals • MXISystems, Inc. • Monochromic X-Rays • Imaging (Medical, Industrial, Proteomics) • WebEBM.com • “Evidence Based Medicine” • University Consortium • Multiple Revenue Model • Cardiovascular Services of America, Inc. • Outpatient Cardio Diagnostic & Treatment Facilities • EBCT Imaging • Disease Management/Wellness Sep 2000

  21. Portfolio – Pre-Seed Deals • IS², Inc. • Medical IT Software Product Line • Consulting & Integration Services • ASP Applications • Nova Bionics, Inc. • Electronic Medical Devices • University Middleman for Devices • Telemetry Products, 1st Domain • iTEACH.com • Vertical portal for the K-12 Teachers-Student-Parents Market • University Consortium • Revenues linked to Proven Results Sep 2000

  22. Pre-Seed Deals (con’t) • American Graduate School of Management • Interactive, multimedia-based learning solutions • Global Executive Business Education • Customer – International Corporations • MicroArrays, Inc. • DNA chips – study thousands of genes simultaneously • Existing product line; e-commerce strategy • PharmaVU, Inc. • Vehicle for developing new drug candidates • Unique product acquisition strategy • Unique CRO Component • CET, Inc. • Bridge to SBIR/STTR Funding Resources • Consistently reviewing additional projects Sep 2000

  23. I want to be a sapling and grow up to be a big oak tree! Little Nova Papa Nova Baby Nova Dreams of a Pre-Seed Sep 2000

  24. Entrepreneur Wisdom Says... You can’t have a dream come true until you have a dream

  25. Company Description Nova Bionics , Inc… …was formed within the Vanderbilt Office of Enterprise Development to effectively commercialize biomedical device research, inventions, disclosures, and intellectual property developed internally or acquired from research universities, government laboratories, and individual inventors. …is an incubator and idea processor for medical devices from concept to application. TDR-2/08-30-00

  26. Mission & Vision Mission Statement To discover, develop, and commercialize biomedical devices with the potential to foster understanding of life processes, prolong life, or to improve the quality of life. Vision Statement To become a recognized leader in taking biomedical technology from concept to application. TDR-2/08-30-00

  27. TECHNICAL OPERATIONS Technical Advisory Board R. Allen, CTO Adm Asst (New) Project Engineer Product Design Emerging Technologies Quality Assurance Purchasing & Subcontracts C. Hardin, Engr P. Clayton, Engr R. Allen J. Jones, Mgr T. Hazlewood, Mgr • Quality Control • Inventory Management • Shipping/Receiving • Engineering Documentation • Tech Support • Supplier Development • Advanced Concepts • Circuit Design • Software Interface • Bio-Sensors • Micro-Technologies (MCM/SOC) • Surgical Instruments • Component Suppliers • Contract Manufacturers Nova Bionics Technical Operations

  28. Entrepreneur Wisdom Says... Management commits to providing the environment for success and employees commit to having fun in their success

  29. www.novabionics.com • Home Page Internet • www.novabionics.com • Evaluator Intranet • Review ideas • Rate by category • Submit questionnaire • Administration Intranet • Log ideas • Assign Domains • Assign evaluators • Auto E-Mail Reminders • Evaluator Bulletin Board and Chat TDR-2/08-30-00

  30. Alzheimer’s Memory Walk NOVAFIND™ Caregiver Peace of Mind * Provisional patent and trademark under review. TDR-2/08-30-00

  31. Long Range Tracking and Locating Alzheimer’s Patient Location Domestic Pet Protection Home Confinement Child Safety 0-9 Months 1-2 Years 2-3 Years TDR-2/08-30-00

  32. Design Performance: Long-Range Systems (Product Development) • Size: 12 mm x 12 mm x 4 mm • Range: 3-5 km • Micro-size, inconspicuous transmitter and pocket-size receiver • Defined zone alarm and location capability outside zone • Packaging / Configuration: per current projects by VU MT330 and BME272 students TDR-2/08-30-00

  33. Road-map to keep focused Explain what we do to the technically challenged! • Angel Investors • Venture Capitalists Professional Services Investment Needs Business Plans and why we need them • Avoid being opportunistic • Bank Line of Credit • Insurance Ratings Sep 2000

  34. Entrepreneur Wisdom Says... One idiot can ask more questions than ten wise men can answer

  35. Market segments • Approach to market • Market strategies Executive Summary Industry and Business Model Business Plan Content • Organization and focus • Market opportunity • Competition • Management Sep 2000

  36. Product, Technology and Capabilities Financials Business Plan (con’t) • Product background • Development status • Prototyping and Manufacturing • Quality documentation • Risk factors • Pro-forma Income Statement • Pro-forma Balance Sheet • Management and personal projection • Uses of capital Sep 2000

  37. Entrepreneurs... are better starters than sustainers thrive on taking risks and living on the edge always enjoy a good chase are revitalized by recognition don’t mind making severe sacrifices for future rewards

  38. Hands-on experience: • Job description is shaped as your talents are recognized. • It is up to you to optimize your strengths and admit your weaknesses. • You will gain experience in every facet of the business. • No task too big or too small, you do it all!! • You are a key player in every success and failure of the company. Sense of ownership: Responsible for your own success: Why work for a start-up company? Sep 2000

  39. Graduate School First? Advantages: • More money $  $ (when you get out) • More focused learning in your specific engineering field of interest Disadvantages: • Longer wait for real income • More focused means its harder to find your specific field • Miss out on real world things Sep 2000

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