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CONNECT - Springboard Overview Powering the Innovation Economy

CONNECT - Springboard Overview Powering the Innovation Economy. Presented to: University of San Diego Presented by: Gregory J. White CONNECT Entrepreneur-in-Residence Date: April 4 , 2012 . CONNECT-SBDC Springboard.

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CONNECT - Springboard Overview Powering the Innovation Economy

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  1. CONNECT - Springboard OverviewPowering the Innovation Economy Presented to: University of San Diego Presented by: Gregory J. White CONNECT Entrepreneur-in-Residence Date: April 4, 2012

  2. CONNECT-SBDC Springboard Catalyzing the creation of innovative technology and life sciences products in San Diego Business Creation Venture Capital Educational Curriculum Recognition & Competition Innovation Policy Convergence Clusters

  3. Overview of Strategic Focus Areas • Expand and leverage CONNECT-SBDC Springboard • Seed new clusters • Attract for investment capital to San Diego • Attract and develop more talent in San Diego • Brand San Diego as an Innovation Hub

  4. Expand and leverage CONNECT-SBDC Springboard MOU with Sanford Burnham Incubator MOU with San Diego & Imperial SBDC Network Destination San Diego Program Global Bridge Expansion Policy: Start Up America Initiative SBIR Reauthorization / SBIC Development Intellectual Property

  5. Seed new clusters Nearsourcing Workshops, Roundtables and Portal SD iHub expanded to Riverside and Biomimicry Information Dominance programs ADT, SPAWAR/NDIA, Foley/Lares Institute Policy CONNECT Innovation Institute – Production Cluster Cyber/Privacy legislations

  6. CONNECT-SBDC Springboard • CONNECT's flagship program • Innovators at all stages receive free hands-on mentoring by successful CEOs, CFOs and CMOs in our EIR Program. • Coaching is available in all San Diego’s key verticals. • New collaboration with San Diego & Imperial SBDC Network

  7. Entrepreneurs-in-Residence (EIR) Program • More than 180 C-level executives with backgrounds spanning all industry segments • CONNECT EIRs: • Assess & mentor > 200 Springboard clients per year • Serve as judges in CONNECT’s Venture Roundtable & MIP programs • Support student entrepreneurs competitions • Advise universities, research institutes with innovation assessments • Support new San Diego incubators • CONNECT Domain Experts: • > 200 CFOs, senior marketing executives and technical domain experts

  8. Supporting companies at all stages Innovation – evaluate commercialization potential. Technology Transfer – company formation and seed stage funding strategy. Commercialization – 3 - 5 months coaching to develop an investor pitch. Transition – mentoring companies launching new product or into new market, considering spin-out or facing major challenge. Global Bridge – mentoring companies from other regions who want to open offices in San Diego

  9. Free Business Coaching 1,000 domain experts advise on: business model, marketing plan, financial model and projections, IP, valuation, due diligence, financing, industry feedback introductions to potential clients or strategic alliances.

  10. Graduation • Panel presentation to industry domain experts • Investors • Strategic partners, service providers • Customers • Objective feedback and advice • Business Model • Leadership talent • Funding • Introductions and referrals

  11. Springboard Now in over 50 Markets • Europe • United Kingdom (5) • CONNECT Denmark • CONNECT Estonia • CONNECT Finland • CONNECT Latvia • CONNECT Norway • CONNECT Sweden • Middle East • CONNECT Jordan • Technion, Israel • USA • Canada • Latin America • CONNECT Bogotá • Asia • CONNECT Korea • CONNECT Taiwan • Keio University, Japan • Australia and New Zealand • ANU CONNECT • Expatriate CONNECT • CONNECT New Zealand

  12. Commercialization Successes • Assure Controls – QwikLite technology licensed from SPAWAR • (bioluminescence as an indicator for contamination); • - completed Springboard in 2006; first funding received in 2007 • Benefits: understanding investor concerns, focused value proposition, first company financials • Radical Therapeutix – licensed from SDSU • (Therapeutic to reduce tissue damage resulting from heart attacks) • completed Innovation Assessment in 2007, Springboard in 2008; grant funding in 2008 • Benefits: Feedback on market potential, company growth strategy, connection to entrepreneurs, recruited scientific advisory board • Tong Labs – SDSU discovery • (portable Isotope Detector for Dirty Bombs and Improvised Nuclear Devices (IND)) • Completed Innovation Assessment in 2008, Springboard in 2009 • Benefits: compelling investor pitch; feedback from investors and connections

  13. “(Springboard provided) great exposure for our company. We attained customers, investors and board members. A great program!...Connect “was a huge help because scientists need help from people who know something about business.” Dr. Rolf Muller, Chief Scientific Officer and Co-founder, Biomatrica Closed $1 million seed round in 2006 Closed $ 7.2 Million A-round of angel investment in 2008 MIP Winner 2006 Springboard Graduate 2006 Venture Roundtable Presenter 2007 Deal Network Presenter 2008

  14. Springboard 2007 Venture Roundtable 2009 Deal Network 2009 “I used to think the guy on the other side of the table was an idiot…But CONNECT helped me to articulate the pitch about my company so that the people really do believe me…CONNECT's lessons have served us incredibly well with management boards, employees and investors.” Tyson S. McDowell, Founder & CEO, Benchmark Revenue Management Closed $1.7M seed round in 2007 Closed $1.014 Million A-round of angel investment in 2009

  15. Springboard 2009 Venture Roundtable 2009 (2) Deal Network 2009 “Amazing program . . . EIR was fantastic; really helpful & enthusiastic.  I found the panels to be a great "forcing mechanism" to have me do strategic thinking.” Bryan Pate, CEO, PT Motion Works Closed $775K angel round in 2009

  16. Venture Roundtable Presenter 2009 Deal Network Presenter 2009 MIP Winner 2009 Springboard Participant 2009 “Thanks for the support!...We just made the final 3 in the San Diego Venture Group Pitch Fest, we were a finalist in Qualcomm’s Q-Prize, we came 2nd Place in the Tech Coast Angels’ Quick Pitch Competition, we’re a winner of CoinStar's Next Big Idea contest, and we’re a finalist for CONNECT's MIP award.” Mark Bowles, CEO, ecoATM, Inc.

  17. Access to Capital • CONNECT offers ways for entrepreneurs to connect with investors: • Venture Roundtables • A competition that focuses on a specific business vertical including: Life Sciences, Technology, Cyber Security & Web 3.0. Venture ready companies are encouraged to apply. VRT Winners go on a “Roadshow” for VCs. • Deal Network • The Deal Network is a confidential list of high net worth investors who periodically review best-in-class companies that have succeeded in CONNECT's Springboard, Venture Roundtable or Most Innovative Product Awards programs. • Tech Coast Angels • Angels often invest from the $50,000 to the $500,000 level, as well offer the opportunity to work more personally with an individual investor who generally plays a more hands on role in business development. Besides CONNECT-SBDC Springboard, CONNECT offers a number of other ways for entrepreneurs and innovators to connect with investors and capital in order to blossom their ideas into concrete applications and products. Those programs include Venture Roundtable, Deal Network and Tech Coast Angels.

  18. Springboard Graduates Growth After Mentoring • 58% still in business >$310M capital raised Nearly 1,000 jobs created • 75% have raised money

  19. Questions?Referrals?Suggestions?Volunteers?

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