MPP IEI - Making Entrepreneurs' Dream

ISCTE-IUL MIT Portugal Venture Competition What? Is an Entrepreneurial, technology-based Venture competition For? People with a dream, Would-be Entrepreneurs Innovators – Start-ups / Spin-offs under 5y and <2,5M€Copyright 2009-2010 Audax CenterforEntrepreneurship 2ISCTE-IUL

Our Goals: • Identify and reward projects at an seed/early stage with a clear global value proposition • Enable a 10x to 20x pre-money valuation within first years of venture • Connect global Innovators to global InvestorsCopyright 2009-2010 Audax CenterforEntrepreneurshipISCTE-IUL

In brief International technology venture competition Held once a year 4 Market-application tracks: 1. Lifesciences 2. Sustainable Energy & Transportation systems 3. Information Technology and the Web 4. Other Products and ServicesCopyright 2009-2010 Audax CenterforEntrepreneurshipISCTE-IUL

Partnership with MIT & MIT- Portugal in tech ventures • 33.600 companies founded by living MIT alumni (76% alive, employing 3.3M) • Annual revenues of $2 trillion (~10x the GDP of Portugal) • Annual R&D CAPEX: $650M (54% privately sponsored) • 500+ patents/y (280+ filed/y) • $90M license revenue (08) • 72 MIT Nobel Prize winnersCopyright 2009-2010 Audax Center (7 current faculty members)forEntrepreneurship 5ISCTE-IUL

Creating a Culture for technological Innovation Encouraging researchers to “reach for the stars” and do risky things, cultivating an understanding that “it’s OK to fail.” Nobel Laureate Ivar Giaever (1973) & Chief Technology Officer of Applied BioPhysicsCopyright 2009-2010 Audax CenterforEntrepreneurship 6ISCTE-IUL

Unique aspects: • Target: “Starts” where other BP competitions end • Tools: 100+ hours of training and coaching in Go-to- Market strategies with entrepreneurs, during Selection • Focus: International catalyst ecosystem, during Venture ...all of which, foster connections to internationalCopyright 2009-2010 Audax Center investors.forEntrepreneurshipISCTE-IUL

Audax:- a unique pedigree in fostering entrepreneurship & Innovation • Support 150+ projects in 5y Finance of (33 start-ups; ~8M€ raised) Business sources of Capital, plans (start-up inc. • Over 25 strategic partnerships & follow-on VC Fund co - (KPMG, CGD, BCP, APCRI, InovCapital, APBA...) investments) managment • Unique Educational programs (PEC, PEF) Consultancy: Pool of bus. Strategy, • CoHitec Lisboa manager investors (BA, VC & technology investments, • Annual events: business partners Advanced control - Audax TV 2008 (6% share, TV2) - Entrepreneurship conferenceCopyright 2009- (+200 participants /y)2010 Audax CenterforEntrepreneurship 8ISCTE-IUL

Process overview March to November 95 Selection 20 Semi- €0.5M to 4 Applications Stage finalists Finalists (2010) Teams work on Award €0.5M upon Venture execution Stage Milestones Up to 5 yearsCopyright 2009-2010 Audax CenterforEntrepreneurshipISCTE-IUL

2010 - A Snapshot Visits Entries from 6 countries 367 aspiring Coaching with Portugal, Spain, France, globalpreneurs entrepreneurs UK, Canada, USA 100+ hours in Go- to-Market strategiesCopyright 2009-2010 Audax CenterforEntrepreneurshipISCTE-IUL

2011 Edition:- Completed tasks • Held a joint press conference with MIT-Portugal • Released 1st Venture Competition newsletter • Launched the 2011 competition Rules & Regulations • Completed the Roadshow in Portugal (22 Institutions nationwide) • Gaining social traction Facebook and LinkedinCopyright 2009-2010 Audax CenterforEntrepreneurshipISCTE-IUL

2011 Edition:- Key Dates February 14th: Roadshow starts March 10th: Submission period opens May 15th: Deadline for projects submission June 30th: Semi-finalists announcement July 13-15th: 3-day Crash Course September 22th: Track Finals event November 17th: Grand Finale eventCopyright 2009-2010 Audax CenterforEntrepreneurshipISCTE-IUL

IdeaStream @ MIT April 2011 • 1 week trip: business development basics and networking • Goals − Participation at MIT IdeaStream • Financing opportunities − Strengthen relationship with US-based Catalysts − Network with teams/ventures • Links to provide access to US marketplace − Kick-off Quarterly Reviews • with US-based Catalyst and IEI staff • Opportunity to strengthen network of Alumni • Significantly expand MIT Portugal “brand” and US-basedCopyright 2009-2010 Audax Center volunteers for 2011 CompetitionforEntrepreneurshipISCTE-IUL

IdeaStream:- the Lab-to-Market Symposium IdeaStream gathers together the leading minds in innovation and entrepreneurship for an invitation-only event each spring. Top-name venture capitalists, successful entrepreneurs, andCopyright 2009-2010 Audax Center MIT researchers consider this a must-attend event.forEntrepreneurshipISCTE-IUL

2010 Finalists • Plux develops innovative solutions for Healthcare, Sports and Scientific research, like bioPLUX clinical Track: Lifesciences system an efficient tool for physical therapy. • Hardware: zero configuration turnkey solution and Bluetooth wireless; Software: unprecedented usability User-friendly and intuitive • Waynergy is a system that converts the linear motion of the surface to actuate an electromagnetic Track: E&T technology device that generates electricity. • It reduces the electric energy costs by 50 to 80% in places with great affluence of people or vehicles, applying its energy generation system on the floor.Copyright 2009-2010 Audax CenterforEntrepreneurshipISCTE-IUL

2010 Finalists BIPS was the 2010 Winner • Around Knowledge developed BIPS, a solutions able to track individual paths, retrieve times and trends automatically. It is up to 89% less expensive than traditional solutions, and it is able to preserve Track: IT & Web privacy. • It provides higher confidence levels and data in real time. • Weadapt develops and sells inclusive products, Track: P&S aimed at the market of people with special needs, contributing to their inclusion and rehabilitation by increasing their self-esteem, well-being, comfort, autonomy and quality of life.Copyright 2009-2010 Audax Center • Products: Body Me and Sense Me.forEntrepreneurshipISCTE-IUL

2010 Honorable Mentions • Acellera Therapeutics is developing a drug: ACE- 1, that reduces the risk of liver transplant rejection and death for the 70,000 people currently living with Track: Lifesciences transplanted livers, without the severe adverse effects of current treatments. • Competes on efficacy and on price with current treatments calculated in up to €19,000 per patient in post-surgical costs. • PV Solutions is developing a “ribbon” process that produces wafers for photovoltaic panels, directly Track: E&T from feedstock, by-passing the 3 most expensive and energy consuming steps of present technologyCopyright 2009- • The silicon wafer accounts for ~74% of the direct2010 Audax Centerfor costs of a state-of-the-art solar cell company.EntrepreneurshipISCTE-IUL

More information? Gonçalo Amorim: goncalo.amorim@iscte.pt MIT Portugal – Innovation & Entrepreneurship Program Manager Catarina Madeira: catarina.madeira@iscte.pt MIT Portugal – Innovation & Entrepreneurship Operations CoordinatorCopyright 2009-2010 Audax CenterforEntrepreneurshipISCTE-IUL

MPP IEI - Making Entrepreneurs' Dream

by mitportugal on Mar 28, 2011

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