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New venture creation mentors


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Introduction to NVC for Mentors

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New venture creation mentors

  1. 1. New Venture Creation Course 2012 Information Session Rachit Parekh, Course Director – NVC( Brought to you by: BITSAA International, EDIPRU and
  2. 2. What is NVC / New Venture Creation Course Official 3 unit course designed and executed by BITSAA Develop and Execute startup idea Write business plan including all building blocks Work with assigned Mentors to fine tune Learn via guest lectures from entrepreneurs and investors Win Pre-seed funding post semester Preferred access to Manoj Saxena pre-seed funding and DST grants, and access to BITS Spark Mentors & Angels Build a Product or a Minimum viable product to test feasibility 2
  3. 3. Why NVC? Graduated 24 teams (since 2009). 4 teams moving onto Pre Seed Funding stage and have gone ahead and started up:  Anaya Labs: technology products in the domain of collaboration  Smartec: Innovative Database Systems  TunePatrol: Social Music Discovery  Aadharshila: Interactive Online Education  Photowalkr: Photography Education Note that the course only provides a framework, the teams must seek, learn and build their startups themselves 3
  4. 4. Opportunities for funding The teams taking part in NVC are all given the opportunity and have the potential to be fast tracked for Pre-Seed and Seed funding through:  Manoj Saxena Pre-Seed Fund  BITS Spark Angels From the past batches 4 teams have secured pre-seed funding while one has gone on to secure Seed funding, the teams being:  Smartec, Tune Patrol, Aadarshila, Photowalker – Manoj Saxena pre-seed funding  Anaya Labs (Framebench) – Seed funding 4
  5. 5. Lectures & Pedagogy Lectures and other content  30 lectures on topics related to building a startup taken over web-conf.  Six 60-90 min skype sessions across the semester with the respective mentors besides interactions over mail etc. Speaker Profile  Entrepreneurs or Startup CEOs  Venture Capitalists  Industry Experts (blue chip companies, attorney etc.) Teams  Total 29 teams selected across 3 campuses  Team sizes are between 3 and 5 members 5
  6. 6. Team and Mentoring Mentor  Each team will have an entrepreneur/Industry Expert/VC mentor  Each team will have 7 session of 45 mins each on Skype with their mentor + email discussions  Mentors guide students through the initial phases of the start-up, which includes – Idea formation, Product Development, Consumer feedback, Business Plan, Team Formation etc. 6
  7. 7. Few NVC Mentors and Speakers Abhinav Anurag Jain Rahul Sujit P – VT Bhardwaj Anand Daniel – Khushraj - –Perot Chandra – Convergent – Sequoia Accel Partners Nokia Systems Helion VC Technologie Capital VC s Garret Dodge Anil Advani – Nickhil J - - Roqbot Inventus Law 7
  8. 8. Methodology of MentorshipEach mentor should be willing to give time for 7 formal Skype mentoring sessions of about30-60 minutes with their mentors according to schedule below. The mentor is welcome tointeract with the teams informally for as much time as he or she can give. Number Time frame Topics Summer Session July 5th – 17th Progress over summer, Consumer feedback and product progress Session 1 Aug 10th - 25th Intros, Market Sizing, Customer Problem, Elevator Pitch Session 2 Aug 26th - Sep 10th Team, Product, Lean Startup, First 100 days, Presentation 1 Session 3 Sep 11th - 30th Intellectual Property, Sales, Competition, Business Models Session 4 Oct 1st - Oct 10th Marketing, Partnership, Presentation 2 Session 5 Oct 11th - Oct 31st Progress review, general questions Session 6 Nov 1st - Nov 20th Financing, launch plans, final presentation and final product 8