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Texas venture labs alumni silicon valley july 2010

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Texas venture labs alumni silicon valley july 2010

  1. 1. www.texasventurelabs.net<br />1<br />
  2. 2. The What …<br />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.<br />2<br />
  3. 3. … The How …<br />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; and providing direct links to resources and funding.<br />3<br />
  4. 4. … and What’s Unique<br />Venture Labs is Built on the entrepreneurial skunk-works that has thrived at UT Austin for the last five years and produced substantial results. <br />4<br />
  5. 5. Venture Labs Positioning<br /><ul><li>Looks like a venture capital firm
  6. 6. Relies on outside sources of capital
  7. 7. Not reproducing any on campus or business organization
  8. 8. Acts a consultation and recommendation source
  9. 9. Designed to accelerate company formation
  10. 10. Will selectively take on projects and provide labor in the early days and expand this over time
  11. 11. Run by students across campus who will be learning the process while building companies</li></ul>5<br />
  12. 12. How We’re Doing It<br />6<br />
  13. 13. How We’re Doing It<br />7<br />
  14. 14. How We’re Doing It<br />8<br />
  15. 15. How We’re Doing It<br />9<br />
  16. 16. Process<br />10<br />Stage 3<br /><ul><li>Management Team
  17. 17. Funding
  18. 18. Launch</li></ul>Stage 2<br /><ul><li>License
  19. 19. Market Validation
  20. 20. Product
  21. 21. Business Model
  22. 22. Business Plan</li></ul>Stage 4<br /><ul><li>Ongoing Mentoring
  23. 23. Growth
  24. 24. Harvest</li></li></ul><li>Timeline<br />11<br />March 2010: Initial focus sourced from Graduate Business and Engineering programs<br />Stage 3<br /><ul><li>Management Team
  25. 25. Funding
  26. 26. Launch</li></ul>Stage 2<br /><ul><li>License
  27. 27. Market Validation
  28. 28. Product
  29. 29. Business Model
  30. 30. Business Plan</li></ul>Stage 4<br /><ul><li>Ongoing Mentoring
  31. 31. Growth
  32. 32. Harvest</li></li></ul><li>Timeline<br />12<br />March 2010: Initial focus sourced from Graduate Business and Engineering programs<br />Stage 3<br /><ul><li>Management Team
  33. 33. Funding
  34. 34. Launch</li></ul>September 2010: Signature deals sourced from OTC, Graduate Business and Engineering <br />programs<br />Stage 2<br /><ul><li>License
  35. 35. Market Validation
  36. 36. Product
  37. 37. Business Model
  38. 38. Business Plan</li></ul>Stage 4<br /><ul><li>Ongoing Mentoring
  39. 39. Growth
  40. 40. Harvest</li></li></ul><li>Timeline<br />13<br />March 2010: Initial focus sourced from Graduate Business and Engineering programs<br />Stage 3<br /><ul><li>Management Team
  41. 41. Funding
  42. 42. Launch</li></ul>September 2010: Signature deals sourced from OTC, Graduate Business and Engineering <br />programs<br />Stage 2<br /><ul><li>License
  43. 43. Market Validation
  44. 44. Product
  45. 45. Business Model
  46. 46. Business Plan</li></ul>Stage 4<br /><ul><li>Ongoing Mentoring
  47. 47. Growth
  48. 48. Harvest</li></ul>2010: Perfect the model with Law, Business and Engineering Graduate programs<br />2011: Expand to Business and Engineering Undergraduate programs<br />2012: Expand across campus<br />
  49. 49. Success Stories<br />14<br />Stage 3<br /><ul><li>Management Team
  50. 50. Funding
  51. 51. Launch</li></ul>Stage 2<br /><ul><li>License
  52. 52. Market Validation
  53. 53. Product
  54. 54. Business Model
  55. 55. Business Plan</li></ul>Stage 4<br /><ul><li>Ongoing Mentoring
  56. 56. Growth
  57. 57. Harvest</li></ul>Underway: more than 30 companies including Digital Proctor, Mentionables, MBA Benchmark, Ordoro, and SolaVicta<br />
  58. 58. Success Stories<br />15<br />Stage 3<br /><ul><li>Management Team
  59. 59. Funding
  60. 60. Launch</li></ul>Stage 2<br /><ul><li>License
  61. 61. Market Validation
  62. 62. Product
  63. 63. Business Model
  64. 64. Business Plan</li></ul>Stage 4<br /><ul><li>Ongoing Mentoring
  65. 65. Growth
  66. 66. Harvest</li></ul>Underway: more than 30 companies including Digital Proctor, Mentionables, MBA Benchmark, Ordoro, and SolaVicta<br />
  67. 67. Success Stories<br />16<br />Stage 3<br /><ul><li>Management Team
  68. 68. Funding
  69. 69. Launch</li></ul>Stage 2<br /><ul><li>License
  70. 70. Market Validation
  71. 71. Product
  72. 72. Business Model
  73. 73. Business Plan</li></ul>Stage 4<br /><ul><li>Ongoing Mentoring
  74. 74. Growth
  75. 75. Harvest</li></ul>Underway: more than 30 companies including Digital Proctor, Mentionables, MBA Benchmark, Ordoro, and SolaVicta<br />
  76. 76. Organization<br /><ul><li>Faculty Directors
  77. 77. Focus on entrepreneurial faculty from across campus
  78. 78. Post-graduate Manager positions
  79. 79. Provide first level management of student projects and resources
  80. 80. Day to day operations staffed by students
  81. 81. Experiences
  82. 82. Venture Capital
  83. 83. Entrepreneurship
  84. 84. Operational positions
  85. 85. Student Compensation
  86. 86. Course credit
  87. 87. Relevant experience</li></ul>17<br />
  88. 88. Venture Labs Initiatives<br />Raising a $10 million endowment<br />Engineering partnership<br />Law school involvement<br />College of Natural Sciences<br />Cross-campus course offerings<br />CTAN relationship<br />Venture Week<br />Automated advisory board deal screening<br />Technical advisory board<br />Investment Competition<br />18<br />
  89. 89. Next Speakers<br />Daniel Nelson, co-founder, Phurnace Software<br />Randall Crowder, president of Venture Fellows, Executive Director of Central Texas Angel Network<br />19<br />

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