Venture catalyst overview


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Overview of ASU Venture Catalyst and ASU SkySong

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Venture catalyst overview

  1. 1. SkySong Overview• A 42-acre mixed-business-use development locatedin Scottsdale, Ariz.• A public-private partnership• A joint venture with the university, city ofScottsdale, ASU Foundation and Plaza Companies• Home to a global business community• Links technology, entrepreneurship, innovation andeducation• Positions ASU and Greater Phoenix as global leadersof the knowledge economy• More than 800 tech-related jobs• 97 percent capacity• Buildings 3 & 4 in planning stages; 400 apartmentsunder construction
  2. 2. • Designed to:– Create an ecology of collaboration and innovation– Target high-profile technology enterprises and related researchers– Advance global business objectives of on-site enterprises– Raise Arizona’s profile as a global center of innovation– Create a unique regional economic and social asset• Tenants range from large companies such as Ticketmaster to early-stagestartups – over 70 companies• ASU SkySong, also known internally as Economic Development and CorporateEngagement (EDCE),– a unit of the Office of Knowledge Enterprise Development, the research wing of the university.– Occupies two floors of SkySong Building 1– Consists of three sub-units, including ASU Venture CatalystSkySong Overview
  3. 3. ASU Venture Catalyst Overview• Announced in October 2010 – Reorganized in June 2011 –Mission comes from the ‘ValueEntrepreneurship’ design aspiration of the New American University• Tasked with a wider role of coordinating entrepreneurship across the university since Q4 2012• Part of the Office of Knowledge Enterprise Development (OKED) and works closely with AzTE(ASU’s technology transfer arm )• ‘Startup unit’ of the university– Internal entrepreneurship activity (Edson student startups, faculty startups)– External startups (Furnace, External startups )– Support the external startup ecosystem (collaboration e.g. Techiepalooza event)• Objective to accelerate high potential startups (HPSU)• Changing name to Entrepreneurship and Innovation Group (reflects wider remit)• Partnerships e.g. Microsoft alliance, members of Techstars Global Accelerator Network (GAN)
  4. 4. Entrepreneurship as a Permanent Revolution• Using ASU and Arizona as a ‘petri’ dish forExperimentation• Develop new concepts untried elsewhere• Aim to stimulate entrepreneurship activityinside and outside the university• Test and refine in Arizona• Then propagate these ideas in othercities, states, countries4
  5. 5. ASU Edson Student Entrepreneur Initiative (Startup Accelerator)Edson 2.0:• Program is funded through privately financed endowment from Edson family• Repositioned as an accelerator (mentor-led, Lean trained) in 2011• Startup accelerator for student-run ventures (real company creation)• Acceleration period runs from September to June each year• Heavily mentor-led like other accelerator programs (university takes no equity)• Startups very diverse: social enterprises to apps to consumer products tosustainable technologies to manufacturing2012/13 Cohort:• 338 team applications in last competition (April 2012)• Led to funding of twenty new student-led startups• These Startups received $200,000 in direct (endowed) funding (up to $20Keach)• 2013 is the ninth year of the Edson program
  6. 6. Technology Transfer Office PartnersFunding PartnersFurnace Technology Transfer Accelerator – first in the worldSupport Partners• ASU’s Tech Transfer unit, Arizona TechnologyEnterprises has spun-out over 60 startups in last 8years; increases numbers each year but…a lot oftechnologies are still protected by unused• All research institutions have the same issue with alack of external entrepreneurship activity with theirpatents• Furnace is designed to stimulate even more activity:• Take the best, unencumbered technologies from Arizonaresearch institutions• Offer them to external entrepreneurs/mixed teams• Offer acceleration and $25K in grant funding each• Pilot in 2012 resulted in ten new startups:• Created a successful public/private partnership• Over 200 patents, copyrights uploaded to Furnace website(after ‘translation’)• Over 50 applications, 22 finalists, 10 chosen startup teams• Total of $250,000 in startup state grant funding awarded
  7. 7. ASU (External) Startup Accelerator• Moving from random external companies to a 6 months cohort system of 6-10startups at a time• Includes a full pracademic program, mentor-led, co-working space in ASUSkySong• These companies are early stage but high potential startups (HPSU)• They do NOT have to have any connection to the University other than beingbased in the greater Phoenix area• Some companies are too early to engage – send to outside groups such as theSCORE (mentor group)• Objective – to create sustainable businesses to create jobs and wealthparticularly for Arizona• Majority of the new startups are based in the dedicated co-working space inASU SkySong• External startups working with us have raised $1.45 million in grants andventure funding since June 2011
  8. 8. Rapid Startup School (RSuS) – Pracademic training• Pracademic, free, evening startup program; run in SkySong andexternal locations (e.g. libraries once the EUREKA spaces open)• Originally aimed at graduate students, doctoralstudents, postdoctoral researchers• Now targeting a wider audience internally (staff) and externally• New specialized RSuS MDV program just delivered:Military, Defense and Veterans• Delivering Lean Launchpad based on the Steve Blank (SiliconValley) lean methodology• Currently running different Rapid School programs for 2013:- Rapid Fund Raising School- Using RSuS as a platform for ALL startup initiatives in ASU
  9. 9. • ‘Hub and Spoke’ model with designatedlibraries• Wide geographic reach across the state• Identify ‘champions’ in each library• Special entrepreneurship and innovationtrainings from ASU Venture Catalyst• Pilot location opens in May 2013 – others tofollowAlexandria Coworking Network:Supporting Entrepreneurs, Innovators, Inventors and Small Business in our communities• Create collaboration spaces in each of the libraries:- Co-working ‘light’ – open to anyone- Place for entrepreneurs, innovators and inventors to network with each other- Innovation knowledge locations- Access to pracademic teaching modules- Access to exclusive online material- Layout includes white board and lean canvas material- Location for ASU mentors to be based or liaise with
  10. 10. Flexible, reconstituted space14
  11. 11. • The Applied Regional Economic Action (AREA)48 is termed a Formation Space(pre startup/pre incubator)• It is designed to help individuals to form new teams, ideas, products, services andskills• Based in Tempe on Mill Avenue with easy access to both campus and ‘Joe Public’;supported by a grant of $145,000 from the Blackstone Foundation• It accomplishes this by bringing together a range of underused human assetsincluding veterans and unemployed• These work together with a number of academic assets includingresearchers, staff and students• Its projected outcomes are:• New innovation and startup teams• New products and services that reach their respective markets• Participants with enhanced innovation and entrepreneurial capabilities andskillsAREA48: a Formation Space –Birthing New Entrepreneurial Teams and Innovators
  12. 12. Actively Engaged – Being a major ‘node’ in the system• Developing models that can be replicated elsewhere(Furnace, Alexandria, AREA48)• Partnership and joint events with key parts of the ecosystemsuch as:– Mentorship groups like SCORE group– Co-Working spaces like Co-Hoots, Launchspot and Gangplank, SEEDSpot– Local government organizations– Angel groups, venture capital organizations– Major service providers e.g. legal, marketing, IP, new productdevelopment– Source of mentors, pracademics, funding– Other Universities, Colleges in the State