Kiwi Innovation NetworkInvestor Engagement WorkshopCraig’s Investment PartnersTuesday, 14th August, 2012, 10:00am – 6:00pm...
Mauao (Mount Maunganui), 3rd Jan, 2012, 7:00am
Day Structure Pitch your ideas 5 minutes each (30-40 minutes); Define your Value Chain – Worksheet One Be Benefit Led – Work...
Product Development Processresearch                                        idea                                           ...
Awards:                                                                                                                   ...
Design Business Science
Too early?! Difficult committing to a concentrated story when your still in development; It is more of a prototype, takes s...
Be Benefit LedUnderstanding who your customers are and then translating yourproduct or technology features into customer be...
Approached in Two Parts Defining the Value Chain   who are your customers/users. Translating your features into benefits   w...
Defining the Value ChainCapturing the users, customers, stakeholders, influencers
Your Value ChainWe group these as:  Users ~ users of the product/service/technology  Customers ~ purchasers of the product...
The Product Systemproduct life cycle interaction modelRequirements Customer Stakeholder               Production   Distrib...
Why is it so important? Not just having a product/technology specified; Or being sold; It needs to deliver satisfied users; ...
Worksheet One! Define your value chain  Users  Customers  Stakeholders  Influencers
From features to BenefitsStarting to develop the value proposition & story that willunderpin your pitch.
A feature is not a benefit The natural inclination is to describe products/ services by what they can do (features); Exampl...
The Product Offer Does not do away with a technical specification or definition of the features; Gets to the core of the ‘pr...
Push or Pull Some projects are created from technology others from market opportunity Either way the benefits need to be cl...
Worksheet Two – Be Benefit led Drawing from your value chain We have decided to flip this      Draw a group from your value ...
Value PropositionDeveloping a succinct value proposition that forms the core ofyour pitch
The value proposition  We need to consider:    Your Value Chain;    The benefits your delivering them;    How this can be t...
The ‘one page drop sheet’ The common format for pitching: 1-2 page drop sheet; Format is well established   See http://www...
The ‘one page drop sheet’ For you   Forces clarity;   Highlights gaps;   Starts to prepare for the dialogue with investors...
The ‘one page drop sheet’One line pitch *     Customers *Business Summary     Sales marketing strategy *Management        ...
The ‘one page drop sheet’One line pitch *     Customers *Business Summary     Sales marketing strategy *Management        ...
Worksheet Three – Your Pitch Develop your value proposition (centre) Use the categories drawn from the drop sheet to brain...
Pecha Kucha – Index Cards You have a fixed amount of time for each topic; Translate the pitch from worksheet three; Present...
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Kiwinet Investor Engagement Workshop

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This presentation was delivered as part of the investor engagement workshop prior to early stage pitches delivered to investors. The approach was developed by Locus Research to help profile early stage development projects from research institutions. Aknoledgements: to Kiwinet and Bram Smith and Bill Murphy from Enterprise Angels for Organising the event.

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Kiwinet Investor Engagement Workshop

  1. 1. Kiwi Innovation NetworkInvestor Engagement WorkshopCraig’s Investment PartnersTuesday, 14th August, 2012, 10:00am – 6:00pmhttp://kiwinet.org.nz/activities/engagementWorkshop
  2. 2. Mauao (Mount Maunganui), 3rd Jan, 2012, 7:00am
  3. 3. Day Structure Pitch your ideas 5 minutes each (30-40 minutes); Define your Value Chain – Worksheet One Be Benefit Led – Worksheet Two Lunch Develop your Value Proposition – Worksheet Three Develop your Pitch – A6 Index Cards Pecha Kutcha style pitch (45 minutes) Closing Remarks (15 Minutes) Review/revise/prepare (30 minutes)
  4. 4. Product Development Processresearch idea prototype production to market in marketseed developed seed seedling sapling ricker mature kauriThe seed of the magestic Kauri is dispersed If the seed finds itself in dry but cool As a seedling they will develop The young sapling bristles After 50 years or more the trees will reach the The final size of a Kauri is oftenafter pollination by the wind travelling a conditions and isn’t deposited too oblong shaped green or reddish up a and grows a spiky forest canopy. The tree will slow it’s upward determined by it’s conditions, but candistance of up to 1.5 km before settling deeply or eaten by insects or birdlife it borwn leaves quickly dependnig coat developing at a rate of streak and start to broaden and develop grow upwards ofideally in the cool moist foliage under the will germinate and shed it’s coat after on how much direct sunlight they approximately 10-25cm a year. the iconic crown it is well known for. During 30-40 metres high and several metresManuka tree. The Kauri seeds special 35 days. Kauri seeds have bee known are exposed too. this time it will also start to shed the lower wide. Kauri can survive for thousands ofwing like form helps to carry it far from the to develop on fallen trees or even in the branches in a process called abscission years the oldest in New Zealand beingparent tree allowing it to grow gradually and litter at the base of the parent tree, a very leaving the trunk free of knots to become estimated at betweenbroaden over decades.(Stewart, Kauri, 2008) hardy habitat. what’s known as ‘poles’ or ‘rickers’. 1200-1500 years.
  5. 5. Awards: Clients: Awards are not a great predictor of commercial success (particularly in design). Our clients have included the following: But when our team and clients have worked hard on a project it is great to stop and reflect. MDEA Awards Programmes awarded include: The Medical Design Excellence Awards (MDEA) Encircle - Medical Devices competition is the premier awards program for the medical technology community, recognizing the achievements of medical product manufacturers and the many people behind the scenes worldwide. Dupont Innovations Awards Programmes awarded include: In the Australasian context these awards are the Encircle - Medical Devices heavyweight. Held bi-annually, the appeal of the Circadian - Sleep System DuPont awards is they recognise real research and development at a structural level and include in depth discussion of sustainability within the Awards. Best Awards Programmes awarded include: The best awards are the key Design Awards in Encircle - Medical Devices Drybase - Tiled Shower System New Zealand. They are organised by the Designers Cortex - Exterior Cladding System Littl’ Juey - Weedcutter Institute of New Zealand (DINZ). Locus Research Curve Surf - Surfing accessories Cayo & The Outdoor Room Managing Director Timothy Allan helped to institute Hold - Furniture Range Forester - Chainsaw Protection Clothing the ‘Sustainable Product Design’ Award and was the inaugural judge in 2004. Sustainable 60 Five categories entered to be eligible for award: The award was created by Fairfax media and Price Strategy and Governance - Our internal ‘Evolve’ project; Waterhouse Coopers in 2009. It provided the Workplace - Our Continuous Professional Development (CPD) programme; perfect opportunity to recognise the wider areas of Marketplace - The innovative Transform initiatives for Textiles New Zealand; sustainability within a business. Locus Research was Environment - Life Cycle Thinking Workshops; the recipient of the Overall Exemplar for Small business. Community - Our contribution to forming the Sustainable Design Group of NZ. This recognised the work we have done in a range of business areas. Sustainable Design & Innovation Awards Programmes awarded include: The Sustainable Business Challenge is held each year Cortex - Exterior Cladding System by The Sustainable Business Network. They recognise leading businesses sustainability initiatives. Locus Research has been involved regionally (Bay of Plenty) as a Judge and an advocate for the awards and also won the central and southern award in 2009 against stiff competition and proceeded to the national finals. ISPO Brand New Programmes awarded include: The new entrant award which is a part of the global Curve Surf - Travel System sporting and equipment show; ISPO This award has feature some great New Zealand innovators such as Blo-Kart. The innovative Curve Surf Travel system was a finalist in 2008 and featured in their exhibition. Focus on Health Programmes awarded include: Focus on health was an innovation challenge that Encircle - Medical Devices sought to assist NZ companies commercialising healthcare products and services into the US market. We were fortunate to be selected from over 100 entries to be a semi-finalist and were able to take part in pitching to top US healthcare experts and Investors. Interior Design Awards Programmes awarded include: The Australian Interior Design Awards is a partnership Thermowood - A Material Investigation event of the Design Institute of Australia, DesignEX and ARTICHOKE magazine. It the premier Design event in Australasia that is held alternately between Melbourne and Sydney. An important calendar event for key furniture and household goods manufacturers.4 For more info please visit: www.locusresearch.com For more info please visit: www.locusresearch.com 5
  6. 6. Design Business Science
  7. 7. Too early?! Difficult committing to a concentrated story when your still in development; It is more of a prototype, takes some iterations to get it right; We start at the start of a project, building a ‘project prospectus’; Can help to guide or calibrate development.
  8. 8. Be Benefit LedUnderstanding who your customers are and then translating yourproduct or technology features into customer benefits
  9. 9. Approached in Two Parts Defining the Value Chain who are your customers/users. Translating your features into benefits what are the benefits that your product/ technology/features can deliver.
  10. 10. Defining the Value ChainCapturing the users, customers, stakeholders, influencers
  11. 11. Your Value ChainWe group these as: Users ~ users of the product/service/technology Customers ~ purchasers of the product Stakeholders ~ a direct part of the value chain Influencers ~ those that exert an indirect influence
  12. 12. The Product Systemproduct life cycle interaction modelRequirements Customer Stakeholder Production Distribution Retail Use Disposal User Technical Benefits
  13. 13. Why is it so important? Not just having a product/technology specified; Or being sold; It needs to deliver satisfied users; Demonstrate the benefit it delivers; Ultimately this creates a positive referral cycle that will deliver returns over long term.
  14. 14. Worksheet One! Define your value chain Users Customers Stakeholders Influencers
  15. 15. From features to BenefitsStarting to develop the value proposition & story that willunderpin your pitch.
  16. 16. A feature is not a benefit The natural inclination is to describe products/ services by what they can do (features); Example Features: It has a Quad core 2.8 Ghz processor /32gb RAM/9600M GT 512 MB Benefit: just blazingly fast.
  17. 17. The Product Offer Does not do away with a technical specification or definition of the features; Gets to the core of the ‘product offer’ something that investors and customers will relate to and understand.
  18. 18. Push or Pull Some projects are created from technology others from market opportunity Either way the benefits need to be clearly articulated
  19. 19. Worksheet Two – Be Benefit led Drawing from your value chain We have decided to flip this Draw a group from your value chain; Define the benefits you can offer; List the features that deliver that benefit to the customer This can work both to define your key benefits and to identify your gaps.
  20. 20. Value PropositionDeveloping a succinct value proposition that forms the core ofyour pitch
  21. 21. The value proposition We need to consider: Your Value Chain; The benefits your delivering them; How this can be translated into a pitch that an investor can understand and see value in.
  22. 22. The ‘one page drop sheet’ The common format for pitching: 1-2 page drop sheet; Format is well established See http://www.gust.com most commonly used.
  23. 23. The ‘one page drop sheet’ For you Forces clarity; Highlights gaps; Starts to prepare for the dialogue with investors; Thinking in their common format. For the investor Easy to understand and see the value.
  24. 24. The ‘one page drop sheet’One line pitch * Customers *Business Summary Sales marketing strategy *Management Business model *Customer Problem * Competitors *Product/Services * Competitive advantage *Target market * Financials
  25. 25. The ‘one page drop sheet’One line pitch * Customers *Business Summary Sales marketing strategy *Management Business model *Customer Problem * Competitors *Product/Services * Competitive advantage *Target market * Financials
  26. 26. Worksheet Three – Your Pitch Develop your value proposition (centre) Use the categories drawn from the drop sheet to brainstorm your proposition and what you want to communicate in each area; We will then take these and put them onto some A6 index cards to create our prototype pitch.
  27. 27. Pecha Kucha – Index Cards You have a fixed amount of time for each topic; Translate the pitch from worksheet three; Present to the group (5 Minutes).

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