Introduction to the NSF Innovation Corps (I-Corps) program

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Introduction to the
NSF Innovation Corps
(I-Corps)
Frank Rimalovski
Executive Director,
NYU Entrepreneurial Institute
Instructor,
NSF Innovation Corps (I-Corps)
April 6, 2015
Lindsey Gray
Director,
NYU Entrepreneurial Institute
Instructor,
NSF Innovation Corps (I-Corps)

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Agenda
u Background
u Program benefits and outcomes
u Program details
o Curriculum
o Eligibility
o Application process
u How we can help
u Q&A
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Path to commercialization…
u …increasingly requires startup to advance technology,
develop customer/partner relationships & build team before
acquisition
Startup Acquired By

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Commercialization Myth
Basic &
Applied
Research
Scientific
Discovery/
Invention/
IP Creation
Venture
Formation
& Growth

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The “valley of death”
Commercialization Reality
Basic &
Applied
Research
Scientific
Discovery/
Invention/
IP Creation
Venture
Formation
& Growth

6. @NYUEntrepreneurThe “valley of death”
Basic &
Applied
Research
Scientific
Discovery/
Invention/
IP Creation
Customer
Discovery &
Prototype
Dev
Business
Model &
Team
Formation
Venture
Formation
& Growth
• Customer/market discovery
• Engineering/prototypes
• Mentors and advisors
• Collaborative spaces
• Business leadership
• Legal counsel
• Capital
Commercialization Reality

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Background
Creation of NSF I-Corps Program
u Maximizes impact of NSF investments –
accelerate readiness to transition tech out of
the lab
u $50,000 grants to create prototypes &
commercialization roadmaps
u 7-week ‘bootcamp’ that leverages best
practices from startup community
u Facilitates team formation
u Creates a national network
o Scientists, engineers, innovators, business
leaders and entrepreneurs
* Eligibility: NSF grant within past 5 years

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NYC Regional Innovation Node
u Collaborating with CUNY &
Columbia to run NYCRIN
o Awarded $3.74m over 3 years
o 1 of 7 national I-Corps Nodes
u Support network of 25 research
universities in NY, NJ, CT, & PA
u Provide NSF-selected teams
7-week immersive I-Corps
training program (~2x/year)
u Curriculum leveraged for other
NYU, NYC & regional training
programs

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Background
Creation of Regional I-Corps Program
u I-Corps for non-NSF funded
teams, run by NYCRIN Node
u Open to faculty and researchers
from all universities in NY, NJ, CT
& PA
u Same curriculum & program
structure as NSF program
u National programs for other
agencies coming soon…

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Program Curriculum
u Lean Launchpad Methodology
o Business-model discovery & development to
address market risk
o Leverages scientific method – form
hypotheses, run experiments, iterate to search
for repeatable & scalable business model
o Learn to secure substantial customer feedback
before building & launching your product
u Flipped Classroom
o Online lectures via Udacity
o “Classroom” time spent reviewing progress
o Interview ~15 customers & partners/week
o Weekly teaching team office hours

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Benefits of I-Corps
For your research/startup
u Concentrated time to focus on
commercialization & team—a year’s worth of
work in 7 weeks
u Funding for customer discovery & prototype
development that you don’t have to find
elsewhere (for NSF program)
u Exposure to/input from startup experts,
investors & mentors from NYC startup
ecosystem
u Increased likelihood of startup success

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SBIR / STTR
12
WithI-Corps:
14% 2-3x
higher
WithoutI-Corps:

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Get to market more quickly
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Benefits of I-Corps
For you and your team
u Improved ability to identify commercial
potential of future research
u Increased probability of future grant success
u Faculty more attractive to potential students
u Increased visibility with NSF
u More consulting opportunities
u New career opportunities for grad students/
postdocs (startup, industry, or gov)
u Potential for monetary gain

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Expected Outcomes
o New startup business
o Licensing opportunities
o A business case suitable for venture
capital (Angels or VC funds)

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Who else is participating?
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Eligibility
u NSF award within last 5 years (for NSF program);
No NSF funding requirement for Regional program
u Team in place at time of application
o Principal Investigator (PI)
o Entrepreneurial Lead: typically PhD student or Postdoc
o Industry Mentor
u Commitment to attend all sessions over 7 weeks
o 3-day kick-off
o 3 hours per week for webex ‘classes’
o 15+ hours per week of customer discovery/preparation
o 2-day final presentation session
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Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal

19. @NYUEntrepreneur
Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
u Entrepreneurial Lead (EL)
o Postdoc or grad student who can move project forward
u Principal Investigator (PI)
o Researcher with prior award
o Responsible for grant management (for NSF program)
u Industry Mentor (IM)
o Domain-relevant volunteer guide
o Proximity is better

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Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
u One page
u Composition of team proposing to undertake
commercialization feasibility research
u Relevant awards (NSF or other funding source)
u Brief description of potential commercial impact
u Brief description of current commercialization plan

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Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
u For NSF Program:
Topic-Specific Program Directors
Steve Ellis – BIO
Anita La Salle – CISE
Don Millard – EHR
Babu DasGupta – ENG
Raffaella Montelli – GEO
Sean Liam Jones – MPS
Irene Qualters – OCI
Quinetta Roberson– SBE
I-Corps Program Officers
Babu DasGupta
Anita La Salle
u For Regional Program:
Frank Rimalovski
Lindsey Gray
Risa Cohn

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Application Process
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Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
u Conference call with your entire team & program
directors
o NSF program will require at least 2 interviews
u Interviews focus on availability and commitment
to program and openness to customer feedback
u Not asked to provide details about your
technology

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Application Process
23
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
FOR NSF PROGRAM ONLY:
u Read solicitation 12-602
Written authorization from Program Director required to
submit proposal—sent after phone interviews
u 5-page proposal
o Team (2 pages)
o NSF Lineage (1 Page)
o Potential Commercial Impact (1 page)
o Project Plan/Demo (1 page)
u Rolling process, quarterly batches, FCFS
u 4-week turnaround to award

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We are here to help
u Additional detail about program & what to expect
u Discuss what kind of projects are best suited
u Introductions to mentors who may join your team
u Facilitate intro to NSF I-Corps Program Directors
u Review executive summary before you submit
u Help anticipate what to expect from interviews
u Connect with others who’ve participated in I-Corps

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http://bit.ly/WhatisICorps

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More Information
NSF I-Corps:
o Website: nsf.gov/i-corps
o Monthly webinars – first Tuesday of the month
o Hear feedback from I-Corps veterans:
http://bit.ly/WhatisICorps
Regional I-Corps:
u NYC Regional I-Corps Node website: nycrin.org
u NYU contact: Risa Cohn at rsc255@nyu.edu

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Questions?
entrepreneur@nyu.edu
@nyuentrepreneur
nyu.edu/entrepreneur
nyuentrepreneur.com
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