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Spring
- 1. Project Proposal Dana Goren, Juan Camillo Sanchez, Vimvipa Poome and StoyanStoyanov
- 26. Thank you
Editor's Notes
- Who we areSpring is a team of accomplished visionaries bringing to life great ideas with one shared goal- making life better.We are comprised of four partners: StoyanStoyanov (CEO), Juan Camillo Sanchez (Program Manager), Vimvipa Poome (HR) and Dana Goren (COO). The partners are experienced designers, project managers, developers, user experience experts and certified design managers from Pratt Institute Manhattan. We have launched successful startups and projects in the past, specializing in the field of TBL.We are based in NYC, the new “Silicon Alley” ("a concentration of internet and new media companies in Manhattan, NYC. the dot com industry of NY" (wikipedia)). According to The New York Post: "both talent and timing are driving a remarkable tech boom here". It is a small (yet booming) industry, close to the major media companies, and has a wide offering of talent seeking employment.
- TBL (Taking into consideration not only profit, but the long term impact of products on the future of people and our planet) is no longer a matter of preference. It is crucial for businesses today to understand that the only way to being a truly sustainable company is to place all these factors as top priority. Technology, especially ICT is an area not yet matured with TBL integration .The negative or positive impact of websites, apps and softwares can be difficult to measure, allowing companies to overlook this aspect. A big number of startups with a vision of a sustainable future has been publicly rejected from the more “conservative” approach of incubators, where the money factor is the key differentiator to what this type of organizations call success. We believe in creating a sustainable future for the generations to come and believe creating a TBL ICT accelerator can bring all of us closer toward that goal.
- We are based in NYC, the new “Silicon Alley” ("a concentration of internet and new media companies in Manhattan, NYC. the dot com industry of NY" (wikipedia)). According to The New York Post: "both talent and timing are driving a remarkable tech boom here". It is a small (yet booming) industry, close to the major media companies, and has a wide offering of talent seeking employment. "a concentration of internet and new media companies in Manhattan, NYC... the dot com industry of NY" (wikipedia) The New York Post: "both talent and timing are driving a remarkable tech boom here"NYC now account for 10% of investment. NY Time:"New York is now enough of an attractive alternative that a few West Coast-born start-ups are even packing up and moving east".Benefits: small (yet booming) industry, closeness to media companies, drop-outs from the financial sector are seeking employment.
- Spring is an accelerator for tech startups in their first phase, utilizing a TBLD framework as the blueprint for sustainable growth. It supports the start-ups with both initial funding and close mentoring in order to prepare them for pitching to investors. In return, Spring receives holding of 2-15% (P: 10%?) of the future companies.
- Objectives:1.Identify startups with true potential for making substantial profit. 2. Identify startups with true potential for creating an impact on society and/or the environment3. Identify startups that help address the UN Millenium Development Goal # 8: Develop a global partnership for development. Target 8F: In cooperation with the private sector, make available the benefits of new technologies, especially information and communications4. Identify startup teams that have the right skill set to make their company succeed.5. Provide the following for the identified startups:-Access to markets-Access to Networks-Access to training-Access to talent-Access to capital
- Our project has several key players:Founders: 22 to 40 years old, Enthusiastic entrepreneurs with impactful ideas, looking to develop a more polished TBL ICT product.. The teams or individuals that will be chosen for the program will need to have, besides passion, an adequate skill set in order to make sure they will be able to achieve their goals. Partners: In order to bring these companies to life we will partner with organizations of two types: the first will be for recruiting founders, such as the Pratt DM and ACM program, NYU’s ITP program, Standford’s entrepreneurs program etc. The second will be organizations that will help us guide the participants in their way to creating TBL businesses- such as the UN Millennium Development Goals.Mentors: Professionals in different fields: legal, business development, marketing, TBL experts, UN advisors. Investors: The startups that grow in Spring will be desirable investment opportunities for venture capitalists and private investors, especially those that believe in TBL as the right way to create sustainability.
- Below are the activities allocation in the first 3 years of our operation. The first preparation steps(from funding to Spring launch event) will take approximately 9 months and we will have 2 cycles per year.
- 1. Investors/Partners/Mentors RelationsAfter we have the funding, we will research the potential Venture Capital/ Angel Investors/ Hedge Funds , mentors and partnerships, maintain database, meet with them and sign the contract with mentors and partnerships. This phase will be an ongoing process throughout the program. However, we aim to have the first team of mentors and partners before the mentoring program starts.2. Incorporate Businesslegal compliance errands to receive the money form the investors. 3. Office SettingThis phase includes the incorporated business (registering our company as LCC), hiring people to do the legal work (obtain Federal Employer Identification Number, State Tax ID, Visa issuance for foreigners, Business Insurance) and accounting work (company bank account, company checkbooks,set up accounting and record-keeping system), along with hiring an administrative assistant to manage the office operations (rent an office space, office supplies and services,ongoing management).
- 4. Program Planning This phase includes content planning, mentoring program operation planning and dinners and pitch events that will happen in the program.5. MarketingThis phase includes developing a marketing plan ,Spring marketing communications: online marketing (create website, facebook and other social media), print marketing, and public relations to build the brand awareness and credibility of Spring business and a launch event. 6. Recruiting This phase includes creating application forms, issuing a call for entry, reviewing applications, background checking, interviewing, choosing and contracting the startups.
- 7. Launch Event PlanningThe purpose of the launch event is to promote Spring and attract the press, influencers and potential key players. The theme will be PechaKucha TBL-ICT night. The first 10 startups of our first cycles and famous guest speakers will give a talk. Everyone will enjoy the music and food and drinks from food trucks in a community center or a warehouse.The event will be an all-day Saturday event. We are planning towards 300 guests (50 startups, 50 people from the media, bloggers, publications, 50 investors and 150 People from the industry, key partners) This phase includes hiring an event planner, designing the event, creating the guest list, booking the venue, marketing material and media reachout and event development (lighting design, setting, entertainment, food and drink, etc.).
- 8.1 Program structureMonth 1 Goals: orient teams in the correct TBLD methodology and direction.Pivoting themes: idea, business model, business focus and marketing strategy, TBLD methodology.Methodology: Founders will work directly with mentors and receive feedback about their product or service in one on one meetings with one of us or any of our technical mentoring partners. Startups will be introduced with the core concepts of the TBLD methodology, which they will follow throughout the program and will be introduced to the UN advisors that will guarantee the adherence to the millenium development goal.Startup teams will also be required to develop a proper legal setup for their companies with the support of our technical mentors. This will guarantee that founders can focus on the development of the product and that companies will be prepared for future investment.Dinner 1, Prototype Day: It’s an informal session that allows startup teams to share their first developed prototypes. Founders will have a chance to receive feedback from program advisors and invited speakers, as well as SPRING alumni. Events will start at 6pm so that the founders have a chance to talk to each other and share their process, and the guest speaker will arrive at 7pm. Dinner will be served at 7:15pm and everyone will eat together. The talk will start at 8pm. Speakers will come and share their practical experience, part of their success stories. This will be followed by an intense Q&A session and an extra time where startups will receive feedback from advisors and will have a chance to exchange contact information.Month 2 Goals: Product DevelopmentPivoting themes: TBL product development, customer interaction, partner opportunities.Methodology: Founders will work directly with mentors and receive feedback about their product or service in one on one meetings with one of us or any of our technical mentoring partners. Founders will also be introduced and advised to engage with a technical resources and organizations network that will help them build their product or service.Dinner 2, Prototype Day 2: This will have the same format as prototype Day 1 but with the difference that startups will be required to give a rehearsal pitch presentation to their fellow startup teams. This will require starting the event at 5pm and at the end of the presentations founders will vote for the startups they would chose if they were investors.
- Month 3 Goals: plan for action after SPRINGPivoting themes: fundraising, pitching investors, launching the product, developing a company strategy.Methodology: Founders will work directly with mentors and receive feedback about their product or service in one on one meetings with one of us or any of our technical mentoring partners. Founders will also be personally introduced to the first interested investors according to their business focus.Demo Days: At the end of the program we will organize the most important event of each cycle: the Demo days. First day, startups will get to practice their presentation on a friendly audience of SPRING alumni and advisers. Second day, startups will have a chance to pitch to selected audience of potential investors, partners, organizations and journalists. Founders, organizations and Investors talk between and after the presentations. The goal for Demo day is not to immediately convince the investors. Instead, at the end of the day, founders will have a list of potential leads that will translate into convincing subsequent meetings with the investors or the organizations.
- 10) Resources: (Stoyan)Human ResourcesThe initial employee structure of Spring LLC comprises of four founders (partners) and an administrative assistant to help with the daily communication and administration work. The four founders (partners) are as follows:StoyanStoyanov - CEO. Responsible for the investor, partner relations and the financial management.Dana Goren - COO. Responsible for the daily operations management.Vimvipa PLA Poome - HR. Responsible for recruitment and employee management.Juan Camino - PM. Responsible for Program Development and Management.Full time employees:Administrative Assistant - Responsible for communications management and general office admin stuff.Spring has a pool of mentors, partners, full spectrum of technology experts / vendors, designers, developers, social media experts and others that will be contracted on project to project base depending on the specific need. All contractors will be compensated on an hourly rate. Below is the detailed list of available contractors:Mentors - five mentors will be available to help our clients polish their ideas and develop their strategic business plans. Mentors will specialize in the following areas:Business Law mentor - 75$ per hourFinancing mentor - 75$ per hourStrategic Sustainable Development mentor - 75$ per hourMarketing /PR mentor - 75$ per hourRevenue Strategy Development mentor - 75$ per hourPartners from Pratt DM, ACM and NYU’s ITP programs.Partners from organizations that will help us align our program with TBL to meet US Millenium Development GoalsEvent planner - 50$ an hourPR expert - 80$ an hourDesigners (web, print, graphic, UX, front-end) - 90$ an hourDevelopers (web, back-end) - 125$ an hourSocial media experts - 60$ an hourOffice OperationsSpring LLC provides meeting space for our clients (startups) to meet with mentors and other parties in order to secure seamless communication and mentorship.The office space includes two large conference rooms; Partner’s office and a small lobby where the administrative assistant will be located.Our team plans on renting a 3.5 room office space.
- We are requesting funding for our first 3 years of operations. We believe that within 3 years we can break even and begin to generate revenue. The funding will take us to the first phases of operation: Setting up the offices, program planning, contracting mentors, investor relations, marketing, recruiting startups, launch event and six (five?) cycles of mentoring.
- In return for your investment of $ 4.6 Million we offer you company shares. We also offer you first view of startups. Prior to the pitch event we will create a separate presentation to you and investors of your choice, providing you an opportunity to invest before others do.
- Spring will negotiate with clients on individual bases based on their circumstances and will combine elements of both revenue streams.1. Brokerage fee - Spring will collect brokerage fees as soon as our clients get funding through Venture Capital / Angel Investor. The fee will be determined based on the client size and type of funding.2. Equity Share - Revenue from sharing in client’s success by way of small equity positions or agreements on gross sales. Equity positions will vary based on the nature of the business and the level of Spring’s strategic involvement, starting at 2% up to 15%. (10%)Taking a small proportion of equity will be the way to receive payment in the long run for the business incubation environment’s value-adding services once the client being assisted has succeeded, rather than up front when the client’s company is short of cash. That will be a condition for entry.This revenue model is a long term type since it may take 3 -7 years for a client to realize returns and a portfolio of at least 20 clients (companies) to spread the risk.
- From the experience of established ICT incubators we predict 80% of our companies to outlast the duration of the program and still be active within 2 years. We expect at least 10 % of the startups to be acquired at the end of the cycle and 2% to grow and become big size firms (worth over $50,000,000). Cumulitavely, startups are expected to receive up to US$20 million in funding per cycle. By the end of our 5th year we expect to have least 5 funded companies that surpass the value of US$50 million each.This means that by end of year 2 we would have 32 active companies, which would contribute to about 160 jobs as contribution to our community. But more important, because of our explicit choice to prioritize TBLD as a format of growth, we expect that after our program at least 90% of the companies that graduate will focus their business efforts towards the 8th UNMG. This is our ultimate priority, for it is difficult to calculate the immense potential of impact that companies of ICT nature can carry, we believe it’s for the world's best interest that these companies are in the track for doing good.