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Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
Entrepreneur Boot Camp August 2009
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Entrepreneur Boot Camp August 2009

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Ann Arbor SPARK holds the original Entrepreneur Boot Camp. Entrepreneur Boot Camp is an intensive and instructive way to gain critical feedback and advice about your business model, management team, …

Ann Arbor SPARK holds the original Entrepreneur Boot Camp. Entrepreneur Boot Camp is an intensive and instructive way to gain critical feedback and advice about your business model, management team, competitive positioning, market strategy and other key elements that determine if a start-up will succeed or fail.

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  • Innovation defined (SPARK’s point of view): Innovation refers to those activities that rely on research and development leading to inventions, patents, and the production of new products and services
  • Transcript

    • 1. Entrepreneur Boot Camp Overview<br />August 2009<br />
    • 2. Start-up Services<br />SPARK’s Business Accelerator is designed to shorten the time required to reach commercialization, attract capital, and secure customers<br />Additional Resources:<br /><ul><li>Michigan Pre-Seed Capital Fund ($15 million) was established to provide access to capital for high-tech start-up companies and to position them for external investment
    • 3. Micro Loan programs ($1,500,000) for innovative companies
    • 4. Regional Incubator Network offers an opportunity to capitalize on the Ann Arbor region’s life science, IT/software, alternative energy, advanced automotive and materials sectors
    • 5. Talent Services
    • 6. Entrepreneur Education </li></li></ul><li>Boot Camp Goals<br /><ul><li>Graduates of the Entrepreneur Boot Camp will develop a concise executive summary which can be easily articulated in a brief “elevator pitch”
    • 7. Campers will have a “go / no go” plan and be in a better position to garner funding through equity and/or grant requests
    • 8. Gaps in staffing, funding, business development and product will be identified
    • 9. Additional SmartZone and partner resources will be identified and a plan will be put in place for implementation</li></li></ul><li>Boot Camp ROI<br />Boot Camp graduates have:<br /> <br /><ul><li>Won GLEQ Business Plan competitions
    • 10. Half of ACE Elevator Pitch competitors were Boot Camp graduates and won
    • 11. Received funding from the MI Pre-Seed Capital Fund
    • 12. Found advisory board members
    • 13. Identified angel investors
    • 14. Made life long business connections </li></li></ul><li>Boot Camp ROI<br />Boot Camp graduates:<br /><ul><li>181 companies
    • 15. 662 FTE
    • 16. >$19mm in grants
    • 17. >$20mm in private equity
    • 18. 53 received BA services </li></li></ul><li>Entrepreneurial Success Story <br />Compendia Biosciences<br /><ul><li>Formed in 2005
    • 19. Technologies developed by the University of Michigan
    • 20. Bioinformatics-molecular oncology tools, data, and analysis software
    • 21. Founder, Dan Rhodes, and co-founder Arul Chinnaiyan, MD
    • 22. Attended Entrepreneur Boot Camp 2005
    • 23. SPARK provided $49,000 consulting services; business development, marketing
    • 24. Helped recruit CEO and technology manager
    • 25. First year sales (2006 revenue ~$X million)
    • 26. Received 21CJF award for $1,238,212, raised $600,000 in new equity including $250,000 from the MI Pre-Seed Capital Fund, won $2.4 million SBIR grant
    • 27. Current employment - 14
    • 28. Office located at 210 S. Fifth Avenue, downtown Ann Arbor (SmartZone)
    • 29. Won 2007 “Innovation Company of Year” award from Business Review</li></li></ul><li>Boot Camp Pipeline/Partners<br /><ul><li>Ann Arbor-Ypsilanti, LDFA
    • 30. GLEQ
    • 31. Michigan SmartZones
    • 32. New Enterprise Forum
    • 33. SBTDC
    • 34. U-M College of Engineering
    • 35. U-M Medical Innovation Center
    • 36. U-M Office of Technology Transfer
    • 37. U-M Ross School of Business
    • 38. U-M, WCC, EMU, WSU, MSU
    • 39. U-M Zell Lurie Institute</li></li></ul><li> What businesses are we looking for?<br /> Boot Camp Candidates: <br /><ul><li>Coachable entrepreneurs
    • 40. 2-person team
    • 41. Within 15 months of commercialization -- with one of the following achieved:
    • 42. Sales revenue
    • 43. Private equity investment
    • 44. Partner with a going concern
    • 45. SBIR grant
    • 46. Capable of $10 million sales revenue in 5 years
    • 47. Innovation-based</li></li></ul><li>Boot Camp 2009 <br />
    • 48. How can you help?<br />Tonight:<br />Give us feedback and suggestions for improving Boot Camp <br />Ongoing:<br />Identify and refer companies to Boot Camp<br />Refer participants to Entrepreneur Education 1.0<br />http://www.annarborusa.org/start-ups/boot-camp/<br />(with a direct link from annarborusa.org)<br />
    • 49. Questions: Amy@AnnArborUSA.orgwww.AnnArborUSA.org<br />

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