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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, competitive positioning, market strategy and other key elements that determine if a start-up will succeed or fail.

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Entrepreneur Boot Camp August 2009

  1. 1. Entrepreneur Boot Camp Overview<br />August 2009<br />
  2. 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. 3. Micro Loan programs ($1,500,000) for innovative companies
  4. 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. 5. Talent Services
  6. 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. 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. 8. Gaps in staffing, funding, business development and product will be identified
  9. 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. 10. Half of ACE Elevator Pitch competitors were Boot Camp graduates and won
  11. 11. Received funding from the MI Pre-Seed Capital Fund
  12. 12. Found advisory board members
  13. 13. Identified angel investors
  14. 14. Made life long business connections </li></li></ul><li>Boot Camp ROI<br />Boot Camp graduates:<br /><ul><li>181 companies
  15. 15. 662 FTE
  16. 16. >$19mm in grants
  17. 17. >$20mm in private equity
  18. 18. 53 received BA services </li></li></ul><li>Entrepreneurial Success Story <br />Compendia Biosciences<br /><ul><li>Formed in 2005
  19. 19. Technologies developed by the University of Michigan
  20. 20. Bioinformatics-molecular oncology tools, data, and analysis software
  21. 21. Founder, Dan Rhodes, and co-founder Arul Chinnaiyan, MD
  22. 22. Attended Entrepreneur Boot Camp 2005
  23. 23. SPARK provided $49,000 consulting services; business development, marketing
  24. 24. Helped recruit CEO and technology manager
  25. 25. First year sales (2006 revenue ~$X million)
  26. 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. 27. Current employment - 14
  28. 28. Office located at 210 S. Fifth Avenue, downtown Ann Arbor (SmartZone)
  29. 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. 30. GLEQ
  31. 31. Michigan SmartZones
  32. 32. New Enterprise Forum
  33. 33. SBTDC
  34. 34. U-M College of Engineering
  35. 35. U-M Medical Innovation Center
  36. 36. U-M Office of Technology Transfer
  37. 37. U-M Ross School of Business
  38. 38. U-M, WCC, EMU, WSU, MSU
  39. 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. 40. 2-person team
  41. 41. Within 15 months of commercialization -- with one of the following achieved:
  42. 42. Sales revenue
  43. 43. Private equity investment
  44. 44. Partner with a going concern
  45. 45. SBIR grant
  46. 46. Capable of $10 million sales revenue in 5 years
  47. 47. Innovation-based</li></li></ul><li>Boot Camp 2009 <br />
  48. 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 /><br />(with a direct link from<br />
  49. 49. Questions:<br />