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CFL EDU Startup Weekend & Incubator
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CFL EDU Startup Weekend & Incubator

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Draft PPT on the hosting of a EDU Startup Weekend, and the creation of an education-focused startup incubator. For more info, please contact Mark (mlee@alum.mit.edu)

Draft PPT on the hosting of a EDU Startup Weekend, and the creation of an education-focused startup incubator. For more info, please contact Mark (mlee@alum.mit.edu)

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  • http://www.nytimes.com/2010/12/07/education/07education.html?src=me&ref=general http://blogs.edweek.org/edweek/DigitalEducation/
  • US$ of the device: http://venturebeat.com/2011/10/28/aakash-35-android-tablet/
  • http://douglascrets.com/2011/03/24/y-combinator-of-education-receives-40-applications-in-first-week/ 40 applications by Mar 24, 2011 (within 1 week of incubator’s March 17 th launch) $500 billion market number came from here: http://www.erzwiss.uni-hamburg.de/Personal/Lohmann/Lehre/som3/eduGlobalMarket.html http://www.schooldata.com/pdfs/StateofK12Market_Part1_Intro.pdf
  • http://techcrunch.com/2011/09/23/imagine-k12s-2011-startup-class-aims-to-invigorate-education-with-technology/ (with video!) the set of rapid-fire presentations from Imagine K12, an incubator for education-related startups. We  heard in June  that some 200 applicants had been narrowed down to 10 companies, and those 10 made brief presentations in front of the audience at Disrupt. http://www.hackeducation.com/2011/09/14/imagine-k12-graduates-its-first-class-of-ed-tech-startups/ http://www.wiredacademic.com/2011/09/review-imaginek12-releases-10-education-startups-into-the-wild/
  • http://www.newschools.org/entrepreneurs/edtechmap
  • See also http://news.ycombinator.com/item?id=2608440
  • http://www.instigatorblog.com/start-a-startup-accelerator/2011/08/10/?
  • Bob Martinez’s e-mail sent to the KA commenting system
  • Add’l Youtube video about education startup weekend http://www.youtube.com/watch?v=F2tvkZvQgAU
  • http://techcrunch.com/2010/08/26/inc http://techcrunch.com/2011/08/21/skype-to-acquire-year-old-group-messaging-service-groupme/ eption-a-hackday-dream-the-story-of-groupme/ http://techcrunch.com/2011/08/23/what-skype-really-paid-for-groupme/

Transcript

  • 1. Hosting a CFL EDU Startup Weekend & Incubator Mark Lee [email_address] Oct 2011
    • ROI Projections
    • 25%+ w/RBF
    • 30%+ w/Equity Funding
  • 2. Need for New Education Ideas, Esp. For STEM On technology in education, (Jeb) Bush told Morgan: "I think our country has rested on its laurels.” http://blogs.edweek.org/edweek/DigitalEducation/
  • 3. New Technology Enables New Ideas What Other Ideas Are Possible? http://www.slideshare.net/eden_online/nick-allen WP, Web browsing, video conferencing, two USB ports, 256 MB RAM.   US$45
  • 4. Why an Education Startup Incubator ?
    • Education Market (US & Global)
    • Create New Education Innovations to Accelerate Our Children’s Learning and Growth
    • Huge $500M US Market with $2T Global Market
    • Opportunity Creation for ex-NASA employees
    • Help Them Create Their Own Opportunities, possibly in STEM Education
    • Competition
    • Only 1 US-Based Competitor within Startup Incubator Space. (Caveat) There are other types of competition, e.g. educational foundation, think-tanks. These are potential collaborators …
  • 5. Vertical Competition for the US$500B Market: 1 CA-Based Education Startup Incubator
    • Distinctiveness
    • Local/Regional/FL Participation
    • Open to Corporate Training & Education Opportunities (?)
    • East Coast Presence
    • Orlando’s simulation/training
    • Invite ex-NASA folks (?)
    Mar 2011
    • Asian STEM Contacts
    • Global Market
  • 6. The Only US-Based Education-Focused Startup Incubator Incubatees http://www.imaginek12.com/
  • 7. US-Based Vertical Competition Might Overlook Global Market Competition Imagine K12 Seems to Ignore Global Markets? Innovation Opportunities STEM (e.g. SG Math) to the US Creativity to the ROW? K-12 STEM Creativity
  • 8. K-12 Education Technology Market Map  http://www.newschools.org/entrepreneurs/edtechmap
  • 9. 90% Success Rate for TechStars Startup Incubator (Not Education-Focused) http://www.techstars.com/companies/results/ 80% Active 10% Failed 10% Acquired Y Combinator $22.4M/Incubatee Valuation http://ycombinator.com/nums.html
  • 10. Portfolio’s Potential Investment Returns Sale of A Company Company Sales Equity Revenue-Based http://www.lightercapital.com/about/ 30% ROI 25% ROI Basically, a startup gets a lump sum of cash. In exchange, the investor gets a percentage of the startup’s gross revenue for a length of time, or until a maximum “cap” has been repaid. I give you money, you give me a percentage of your revenue.
  • 11. Questions for a Startup Incubator
    • Who Runs the Startup Incubator?
    • How Much and What Type of Help Will Be Provided?
    • Are There Mentors and What Do They Do?
    • How Long Will The Program Run?
      • Per Class
      • Incubator’s Duration
    • How Much Equity Will the Incubator Take?
    • What Will Be The Incubator’s investment?
    • What is the Investment Stage?
    • How Many Startups per Class?
    • Who Will Provide the Follow-on Investment?
    • Who Are the Acquirers?
    • Other Questions?
  • 12. Potential Interest in Digital Learning Tools from the FL Board/Dept of Education (Excerpt from Bob Martinez’s e-mail) “ My name is  Bob Martinez. I serve as the Vice-Chair of Florida's State Board of Education . I had the opportunity this afternoon to see Mr. Khan's presentation at the Foundation for Excellence in Education annual summit. It was terrific!   … My wife and I have three school aged children in public and public schools. They are getting excellent educations. But, we do not think their schools are using digital learning tools as well as they should. I also think that Florida, as a matter of public policy, should use these tools as a customary part of their schools' learning agenda.”
  • 13. Comparable Institutions in Central Florida Local Startup Incubator(s) Education-Focused Incubator Well-Established Brand-New Local Attractor National Attractor Broad Deep (?) External Funding Funding Available
  • 14. Next Steps
  • 15. Use A EDU Startup Weekend to Gauge Interest & Opportunity (?) http://www.youtube.com/watch?v=jjgg63cGRLY View the YouTube Video To See what the Weekend Was Like
  • 16. Proposed Timelines     EDU Startup Weekend EDU Startup Incubator 2011 Oct   Nov Attend Startup weekend event   Dec Plan startup weekend Plan Startup Incubator   2012 Jan Plan startup weekend Plan Startup Incubator Feb Plan startup weekend Finalize funding, location, mentors, sponsors, … Mar Plan startup weekend Finalize Startup Incubator plan Apr Plan startup weekend Launch application process May EDU Startup Weekend (use as early admission opportunity for potential incubatees) Review Applications - Encourage Startup Weekend Attendance Jun Post-event review Interview & select incubatees Jul Incubatees prepare move to Orlando Aug Incubation Begins (assuming mid-Aug start) Sep Incubation continues Oct Incubation continues Nov Incubation Ends. Present to potential investors Dec Post incubation review   2013 Jan FL Educational Technology Conference   http://fetc.org/Events/Florida-Educational-Technology-Conference/Home.aspx   May SIIA Ed Tech Industry Summit   http://www.siia.com/etis/2011/overview.asp  
  • 17. Supplemental Slides (added after Oct 27 th 2011 Presentation)
  • 18. GroupMe – Born @ a 2010 Weekend Hackathon Received $11.5 M Funding, Bought by Skype for between $43M-$68M http://techcrunch.com/2011/08/23/what-skype-really-paid-for-groupme/ A 4X to 6X ROI within 1 year
  • 19. UCF Incubator Participants Have a 87% Survival Rate
  • 20. 1 st Iteration of EDU Startup Weekend Website https://sites.google.com/site/edustartupweekend/
  • 21. Startup Weekend Book
  • 22. Questions About Starting An Education Startup Incubator Mark Lee [email_address] Oct 2011