Texas Venture Labs – Recruiting Spring 2011

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  • Under “Run by students” - students will be learning the startup process while building companies\n
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  • - This application is in-depth and will require a significant amount of effort, and full disclosure (?) \n\n- Texas Venture Labs will accommodate as many deals as its capacity permits\n- Deals that clear the selection criteria will be contacted by Venture Labs for inclusion in the following semester\n
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  • - Wibole\n Problem: Wireless networks are increasingly overwhelmed and ineffective\n Solution: Wibole uses MWC technology to use wireless devices as relays in order to leverage available bandwidth and signal strength. This approach is a fundamental change from the status quo and offers value to many members of the industry\n \nOrdoro\n Problem: Software gap for budding e-commerce businesses\n Solution: Orodoro is a cloud-based inventory and shipment management system for burgeoning e-commerce retailers (i.e. >10 orders/day)\n \nHurricane Party\n Problem: Small biz cannot reach new or existing customers\n Solution: A mobile app that allows users to easily invite friends to a location, broadcast that location to their network, and take advantage of group buying power with deals. For small biz: a direct advertising channel to customers \n \nOrthoKinematics\n Problem: Poor diagnosis for spine fusion surgery\n Solution: Improved spinal fusion outcomes through more accurate diagnosis using patented stabilization equipment to reduce measurement variability and image processing software to provide actionable data\n \nuShip.com\n Description: global online marketplace for shipping services \n \nPhurnace Software\n Description: Phurnace made solutions for Java applications\n Exit: acquired by BMC software in early 2010\n
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  • - Under 1st Round: All deliverables will be reviewed anonymously\n Under 2nd Round: there will also be a team, peer-evaluation \n \n
  • - Happy hour: Time/Location TBD\n
  • - Under 1st Round: All deliverables will be reviewed anonymously\n Under 2nd Round: there will also be a team, peer-evaluation \n \n
  • - Happy hour: Time/Location TBD\n
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  • Texas Venture Labs – Recruiting Spring 2011

    1. 1. Informative Slides & Application Process Spring 2011
    2. 2. Agenda• Venture Labs Intro and Objectives• Past Success Stories• Recruitment and Student Application Process 2
    3. 3. Mission• Venture Labs is a University wide interdisciplinary education and research initiative to support entrepreneurship, innovation and company formation while providing a unique and directly applicable educational experience for participating students and a research environment for faculty. 3
    4. 4. Objectives• Venture Labs delivers the intellectual horsepower to promote new venture creation at UT Austin through: – Education and mentoring – Market and Business Plan validation – Team-building and networking – Providing direct links to resources and funding 4
    5. 5. Structure and Position• Designed to accelerate company formation• Run by students across campus• Acts as a consultation and recommendation source• Looks like a venture capital firm• Relies on outside sources of capital• Not reproducing any on-campus or business organization• Will selectively take on portfolio companies for business development in the beginning and expand this capacity over time 5
    6. 6. Initiatives• Engineering, Law School and CNS partnership – Cross-campus course offerings• CTAN relationship• Venture Week / Venture Expo• Venture Labs Investment Competition – Formerly MOOT Corp• Industry Advisory Council• Technical Advisory Board• Possible centralization of cross-campus student entrepreneurial efforts 6
    7. 7. Portfolio Company Application Process• 1)
Determine
deal
stage
(see
website
‐
 www.TexasVentureLabs.net)• 2)
If
there
is
a
fit
with
the
deals
Venture
Labs
is
 currently
handling,
entrepreneur
will
fill
out
an
in‐ depth
online
applicaFon
through
AngelsoH.
• 3)
Complete
profiles
are
reviewed
and
prioriFzed
by
 an
independent
Advisory
Council
based
upon
 commercializaFon
potenFal
 7
    8. 8. Benefits• Real-world startup experience• Course Credit• Networking Opportunities• Post-Graduate Fellowship Positions 8
    9. 9. Success StoriesTy p i c a l S t a r t u p L i f e c y c l e n am ng on )o el 
Te tori ) da od an nt en era ch gy ali 
M 
Pl me 
M h en r olo nse t
V ct ss ss ge g h g st a
G esea hn e rke rodu usine usine na din nc goin rowt arve Ide R Tec Lic Ma P B B Ma Fu n Lau On G H Stage I Stage II Stage III Stage IV Wibole
    10. 10. Recruitment• Seeking 7-10 MBAs and 5 Engineer, 5 Law, 5 CNS Students for Fall 2011 class – Total class size is 30• Selected individuals will participate in the program during Fall semester 2011 as TVL Associates• Associates may be selected to continue as TVL Principals during Spring semester 2012 10
    11. 11. Venture Labs Practicum Logistics• All participants will receive directed-study credit through MAN 385 - Venture Labs Practicum – Monday from 6:00 – 9:00 pm• All participants can expect an average deal load of 1 Stage III/IV deals and 1 Stage II deal – Students can expect 8-10 hrs/week for class and startup work• Principals and Senior Associates serve as deal leads• Associates serve as deal team-members• All participants should look to add value where needed 11
    12. 12. Application Process: MBA• Interested applicants: email application – TexasVentureLabsRecruiting@gmail.com – Resume and cover letter explaining interest in Venture Labs• 1st Round: Submission – Investment recommendation (1-page Quick Screen and 2-page Summary)• 2nd Round: Selected candidates will be assigned to teams and have ~1 week to formulate a team recommendation and 10 min. presentation on the same case used in Round 1 – Team presentations will be judged by selected Advisory Council members and Entrepreneurship Faculty – Candidates will complete self- and team-evaluations based on presentations• 3rd Round: Selected individual candidates will be invited to a 30-min. behavioral interview – Individuals will discuss team member evaluations 12
    13. 13. Application Timeline: MBA• Feb. 16th, 7:00 pm - Information Session• Mar. 3rd, 12 pm – Application deadline – Resume – 1 pg. Cover Letter detailing your interest in TVL and why you would be a good fit – Email submissions to: TexasVentureLabsRecruiting@gmail.com• Mar. 3rd, 5 pm - Receive business plan via email• Mar. 22nd by 5:00 pm – 1st Round submissions due – Case Analysis/Investment Decision due (via email to TexasVentureLabsRecruiting@gmail.com)• Mar. 22nd – Candidates announced and organized into teams – Teams (MBA/Law/Eng/CNS) will sign up for presentation times via email• Mar. 28th – 2nd Round Team Presentations• Apr. 4-8 – 3rd Round Interviews• Apr. 15th – Fall 2011 TVL Associates announced – Happy Hour to welcome new Associates. 13
    14. 14. Application Process: Non-MBA• Interested applicants: email to request business plan – TexasVentureLabsRecruiting@gmail.com – Resume and 1 pg. Cover Letter explaining interest in Venture Labs• 1st Round: Submission – You will receive a business plan via email – Become familiar with the business plan and those issues you feel are pertinent in determining whether or not to invest in the business• 2nd Round: Selected candidates will be assigned to teams and have 2 weeks to formulate a team recommendation and 10 min. presentation on the same case used in Round 1 – Team presentations will be judged by selected Advisory Council members and Entrepreneurship Faculty – Candidates will complete self- and team-evaluations based on presentations• 3rd Round: Selected individual candidates will be invited to a 30-min. behavioral interview – Individuals will discuss team member evaluations 14
    15. 15. Application Timeline: Non-MBA• Information Sessions: – Engineering: Monday, February 28, 2011, 4:30 PM Room: CPE 2.214 – Law: Wednesday, March 2, 2011, 5 PM Room: TNH 2.138 – CNS: Thursday, March 3, 2011, 5 PM Room: ACES 2.402• Mar. 9th, 12 pm – Deadline to submit applications – Resume & Cover Letter – TexasVentureLabsRecruiting@gmail.com• Mar. 10th, 5 pm – Receive business plan• Mar. 22nd – Candidates announced and organized into teams – Teams (MBA/Law/Eng/CNS) will sign up for presentation times via email• Mar. 28th – 2nd Round Team Presentations• Apr. 4-8 – 3rd Round Interviews• Apr. 15th – Fall 2011 TVL Associates announced 15
    16. 16. QuestionsTexasVentureLabsRecruiting@gmail.com www.TexasVentureLabs.net

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