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ISCTE-IUL MIT-Portugal Venture Competition                               A different Global Innovation &                  ...
L UI- E T C SI      pi h s r u e n e r p e rt n E      r of r et n e C x a d u A0 1 0 2 - 9 0 0 2 t h gi r y p o C
In a nutshell:                                           •                                             International tech-...
ISCTE-IUL MIT-Portugal Venture Competition                                      What is it?                               ...
ISCTE-IUL MIT-Portugal Venture Competition                                  Our results thus far (18 months):             ...
ISCTE-IUL MIT-Portugal Venture Competition                                  Our fundamental principles:                   ...
ISCTE-IUL MIT-Portugal Venture Competition                                  Our Goals:                                    ...
L UI- E T C SI                                                              pi h s r u e n e r p e rt n E                 ...
Caixa Empreender+ Awards                                  - Track finalists                                   Selection ph...
ISCTE-IUL MITPortugal Venture Competition                                  Finalists can double their                     ...
Ultimate goal for teams:                                       Increase company value from 10 to 20x in the first 3 years ...
ISCTE-IUL MITPortugal Venture Competition                                 Were not reinventing                            ...
Positioning our venture competition                                        Training / Start-Up accelerators:              ...
Unique aspects: in what we do?                                      Whats unique                                      • Ou...
ISCTE-IUL MITPortugal Venture Competition                                  In 2010 & 2011, 155 brave                      ...
Some numbers (2011 submissions):                                 - Increasing quality applications, thanks to our TTOs col...
Unique aspects:                                       So, how do we do we go about building                               ...
L UI- E T C SI                                             pi h s r u e n e r p e rt n E                                  ...
3rd edition (ongoing):- key dates                                      March 15th           Submission period opens       ...
What is the jury looking for?                                      Strong & clear Value Propositions: some hints          ...
Track Finalists (2011 ed.):                                      Lifesciences              E&T           IT&Web   P&S     ...
4 Honorable Mentions granted (2011 ed.),                                      Lifesciences           E&T             IT&We...
Track Finalists (2010 ed.):                                      Lifesciences              E&T           IT&Web   P&S     ...
4 Honorable Mentions granted (2010 ed.):                                      Lifesciences           E&T             IT&We...
ISCTE-IUL MITPortugal Venture Competition                                  Spotlight our ventures (2010 ed.)              ...
Thanks for your attention!                                      Gonçalo Amorim                                      Progra...
27   27            L UI- E T C SI      pi h s r u e n e r p e rt n E      r of r et n e C x a d u A0 1 0 2 - 9 0 0 2 t h g...
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Building global innovators start-up lisboa

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Gonçalo Amorim presentation on ISCTE MIT Competition. If you are an entrepreneur you should check out this competition. € 100 000 euros prize money

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Building global innovators start-up lisboa

  1. 1. ISCTE-IUL MIT-Portugal Venture Competition A different Global Innovation & Entrepreneurship initiative Gonçalo Amorim MPP-IEI Program Director ISCTE-IUL Business School © ISCTE-IUL, 2011 – All rights reserved0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E 1 L UI- E T C SI 1
  2. 2. L UI- E T C SI pi h s r u e n e r p e rt n E r of r et n e C x a d u A0 1 0 2 - 9 0 0 2 t h gi r y p o C
  3. 3. In a nutshell: • International tech-based venture competition • Held once a year, 3rd ed. Launched March12 • 4 Market-application tracks: 1. Lifesciences 2. Sustainable Energy & Transportation systems 3. Information Technology and the Web 4. Consumer Products and Services0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI 23
  4. 4. ISCTE-IUL MIT-Portugal Venture Competition What is it? •An innovation & entrepreneurship, tech-based Venture competition For whom? Teams with a dream:- • Would-be Entrepreneurs • Innovators (Start-ups / Spin-offs under 5y and <2,5M€)0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  5. 5. ISCTE-IUL MIT-Portugal Venture Competition Our results thus far (18 months): • 80% of semifinalists have launched start-ups following e-teams I • 69% of semifinalists raised funding, €6.0M (over 50% from venture capital) • 72 new, highly qualified jobs created.0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E 5 L UI- E T C SI 5
  6. 6. ISCTE-IUL MIT-Portugal Venture Competition Our fundamental principles: 1- Its all about people, the right people for the right job 2- Time is money, and (the right) money can buy you time 3- If you dont know what you dont know you scare knowlegeable people away 4- Finalists may be off to an easier start, but are most often not garranteed successes0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E 6 L UI- E T C SI 6
  7. 7. ISCTE-IUL MIT-Portugal Venture Competition 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 Investors0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E 7 L UI- E T C SI 7
  8. 8. L UI- E T C SI pi h s r u e n e r p e rt n E r of r et n e C x a d u A 0 1 0 2 - 9 0 0 2 t h gi r y p o Cin financial support per editionUp to €1 million ISCTE-IUL MITPortugal Venture Competition
  9. 9. Caixa Empreender+ Awards - Track finalists Selection phase: 100k€ Venture phase: 100k€* – Total: 200k€ - Grand finalist Selection phase: 200k€ Venture phase: 200k€* Total: 400k€ - Expert Coaching (20 start-ups/year) - Access MIT eco-system (12 Start-ups/year)0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  10. 10. ISCTE-IUL MITPortugal Venture Competition Finalists can double their awards How? Meet milestones and goals within first 2 years.0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  11. 11. Ultimate goal for teams: Increase company value from 10 to 20x in the first 3 years Minimum pre-money valuation of €2 million Get ready to raise VC money (series A), €2 - 5 million range0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  12. 12. ISCTE-IUL MITPortugal Venture Competition Were not reinventing the wheel • 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); USD 2B/year budget • 500+ patents/y (280+ filed/y) • $90M license revenue (08) • 72 MIT Nobel Prize winners (7 current faculty members)0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  13. 13. Positioning our venture competition Training / Start-Up accelerators: – CoHitec (COTEC), GSI (Leadership), Y-Combinator (Stanford), TED-x, TechStars (USA), Seedcamp (UK), Start-up Lisboa (PT) • Competitions: Ideas: eg. Jovem Engenheiro, I2P, Startup Weekend, Poli- Empreende, EDP University Challenge, ArriscaC, iUP25, start-up pirates, Business Plans: ANJE (PT), EDP Richard Branson (PT), BES Inovação (PT), MIT100k (USA)... Venture competiitons: ISCTE-IUL MIT-Portugal (PT), Mass Challenge (Boston/USA), IBM SmartCamp (USA), Vodafone Mobile Clicks (UK), TT Ventures (IT)...0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  14. 14. Unique aspects: in what we do? Whats unique • Our Target: “Start” where Business Plan competitions end • Our Tools: 200+ hours of training and coaching in Go-to- Market strategies with entrepreneurs, during Selection • Our Focus: Execution, global leverage via International catalyst ecosystem, during Venture ...designed to foster strong bonds with international investors.0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  15. 15. ISCTE-IUL MITPortugal Venture Competition In 2010 & 2011, 155 brave teams submitted Involving 600+ aspiring globalpreneurs0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  16. 16. Some numbers (2011 submissions): - Increasing quality applications, thanks to our TTOs colleagues - Applicants from 6 countries: Portugal, Argentina, Belgium, Spain, UK, USA (13,2% Int. submissions) - 46.7% already incorporated start-ups! - 48.3% from IT&Web0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  17. 17. Unique aspects: So, how do we do we go about building global innovators? March to November 95 Selection 20 Semi- €0.5M to 4 Applications Stage finalists Finalists (2010) Teams work on €0.5M upon Venture Award execution Stage Milestones Up to 5 years0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  18. 18. L UI- E T C SI pi h s r u e n e r p e rt n E r of r et n e C x a d u A 0 1 0 2 - 9 0 0 2 t h gi r y p o C teams:Selection as aUnique aspects: learning process for
  19. 19. 3rd edition (ongoing):- key dates March 15th Submission period opens May 31st Deadline for projects submission July 2nd 20 Semi-finalists announcement July 16-19th e-teams Crash Course I November 13th Track Finals event November 21-23th e-teams Crash Course II 28th February 2013 Grand Finale event0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E 19 L UI- E T C SI
  20. 20. What is the jury looking for? Strong & clear Value Propositions: some hints 1. Team: members and fit? 2. How big is the problem you are trying to solve? 3. What is the underlying technology and uniqueness? 4. What makes your product / or service innovative (€)? 5. Market: Is there an opportunity for global impact? 6. What is your business model and entry strategy?0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E 20 L UI- E T C SI 20
  21. 21. Track Finalists (2011 ed.): Lifesciences E&T IT&Web P&S ISCTE-IUL MITPortugal Venture Competition Evaluated by over 40 International Judges 4 Finalists selected, with access to €500.000 Focus on Execution to double award0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  22. 22. 4 Honorable Mentions granted (2011 ed.), Lifesciences E&T IT&Web P&S With access to, – Privileged track mechanism to venture financing – Access to MIT catalysts – Access to MIT ecosystem (invitation only)0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  23. 23. Track Finalists (2010 ed.): Lifesciences E&T IT&Web P&S ISCTE-IUL MITPortugal Venture Competition Evaluated by 36 International Judges 4 Finalists selected, with access to €500.000 Focus on Execution to double award0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  24. 24. 4 Honorable Mentions granted (2010 ed.): Lifesciences E&T IT&Web P&S With access to, – Privileged track mechanism to venture financing – Access to MIT catalysts – Access to MIT ecosystem (invitation only)0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  25. 25. ISCTE-IUL MITPortugal Venture Competition Spotlight our ventures (2010 ed.) TV, Radio, Press support 10+ TV interviews, 70+ press articles, 350+ web citations0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
  26. 26. Thanks for your attention! Gonçalo Amorim Program Director, MPP-IEI goncalo.amorim@iscte.pt Catarina Madeira Operations Coordinator, MPP-IEI catarina.madeira@iscte.pt0 1 0 2 - 9 0 0 2 t h gi r y p o C r of r et n e C x a d u A pi h s r u e n e r p e rt n E L UI- E T C SI
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