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Why You Should Consider Springboard

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San Diego CONNECT SPRINGBOARD program, pro bono help for startups, entrepreneurs, inventors, tinkers, etc, putting you on a pathway to funding ...

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Why You Should Consider Springboard

  1. 1. Why You Should Consider CONNECT Springboard to Take Your Business/Idea to the Next Level Version .97
  2. 2. The Proven Benefits <ul><li>Help you cross &quot;Valley of Death&quot; guided by Entrepreneurs-in-Residence </li></ul><ul><li>Help you assess the commercialization potential of your discovery </li></ul><ul><li>Identify the major gaps in your Business Plan </li></ul><ul><li>Provide help in filling those gaps </li></ul><ul><li>Provide help in re-thinking strategies, if required, to make the business/idea fundable </li></ul><ul><li>Help in creating a Business Plan Presentation that may be fundable </li></ul><ul><li>Make key introductions that may lead to funding </li></ul>
  3. 3. CONNECT Springboard Process in Detail Entrepreneurs- in-Residence Springboard Panel Potential Outcomes <ul><li>Stage </li></ul><ul><li>Discovery </li></ul><ul><li>Commercialization </li></ul><ul><li>Fast Track </li></ul><ul><li>Positioning </li></ul><ul><li>Inflection Point </li></ul><ul><li>Feedback on commercial potential of technology </li></ul><ul><li>Expanded network </li></ul><ul><li>Stronger strategic plan </li></ul><ul><li>Realistic funding strategy/readiness for investment </li></ul><ul><li>Compelling business presentation </li></ul><ul><li>Evaluation of Management Team </li></ul><ul><li>Go-to-market strategy </li></ul>Feedback Connections Business Audit Gap Analysis Presentation Coaching <ul><li>Cohesive financial model </li></ul><ul><li>Feedback on a specific business challenge </li></ul>
  4. 4. The Overall Process - Commercialization & Financing Discovery Deal Network <ul><li>SPRINGBOARD </li></ul><ul><li>Commercialization </li></ul><ul><li>Fast Track </li></ul><ul><li>Positioning </li></ul><ul><li>Inflection Point </li></ul>Venture Roundtable & Investor Forums <ul><li>EIR Program </li></ul><ul><li>Springboard Process </li></ul><ul><li>Springboard Panels </li></ul><ul><li>Springboard in the Box </li></ul><ul><li>Life Sciences </li></ul><ul><li>Clean-tech </li></ul><ul><li>High-tech </li></ul><ul><li>Cyber/Security </li></ul><ul><li>VC – fundable </li></ul><ul><li>SD Region </li></ul><ul><li>Early Business Assessment </li></ul><ul><li>Best-in-class deals </li></ul><ul><li>Scrubbed by VCs </li></ul><ul><li>Exclusive events </li></ul><ul><li>Introduction to </li></ul><ul><li>individual investors </li></ul><ul><li>SPRINGBOARD </li></ul><ul><li>Commercialization </li></ul><ul><li>Fast Track </li></ul><ul><li>Positioning </li></ul><ul><li>Inflection Point </li></ul>
  5. 5. <ul><li>Over 500 technology companies have completed the process since 1993 </li></ul><ul><li>Nearly 130 companies have completed the Springboard program since January 2005 </li></ul><ul><li>More Than 70% were still doing business as of June 2009 </li></ul>Success Stories ZuumCraft CardioCreate MicroParticle Proteomics
  6. 6. Think About it <ul><li>Want to make your dream a reality? </li></ul><ul><li>Consider CONNECT Springboard as your launch pad </li></ul>
  7. 7. BACKUP SLIDES
  8. 8. So, What is CONNECT? <ul><li>Focused on promoting the growth of technology and life science businesses in San Diego </li></ul><ul><li>First stop for all San Diego discoveries, inventions </li></ul><ul><li>Founded by UC San Diego in 1985, now an independent non-profit organization </li></ul>
  9. 9. What is Springboard? <ul><li>Springboard, is the mentoring program at CONNECT </li></ul><ul><li>It is a program to promote the development and growth of life science, CleanTech & technology companies in all stages of development in San Diego </li></ul><ul><li>First to serve academic institutions, technology or science-based companies and entrepreneurs </li></ul><ul><li>Open to any company – not just CONNECT members </li></ul>
  10. 10. Why Consider Springboard <ul><li>Help you cross ‘Valley of Death’ guided by Entrepreneurs-in-Residence </li></ul><ul><li>Help you assess the commercialization potential of your discovery </li></ul><ul><li>Get feedback, recommendations and introductions from domain experts </li></ul><ul><li>How to expand your network of industry partners, capital- and service providers </li></ul><ul><li>Put you on a pathway towards funding </li></ul>
  11. 11. What Sets Us apart? <ul><li>Adaptable program to meet the client’s needs </li></ul><ul><li>More than 100 EIRs and 200 domain experts </li></ul><ul><li>Panelists: Access to more than 1000 angels, VCs, service providers and senior executives serving the technology and life science industries </li></ul><ul><li>The Springboard Process </li></ul><ul><ul><li>Multi-step discipline and tools to define business opportunities </li></ul></ul><ul><li>The CONNECT Network </li></ul><ul><ul><li>More than 10,000 contacts across industries and academia </li></ul></ul><ul><li>Complementary programs to help span the “chasm” </li></ul>
  12. 12. What’s in it for the innovator ? <ul><li>The Mentor: Entrepreneur-in-Residence (successful C-level executive), plus </li></ul><ul><ul><ul><li>Access to CFOs, Marketing- and domain expertise </li></ul></ul></ul><ul><li>Springboard Resources </li></ul><ul><ul><ul><li>Financial Modeling, Valuation training, Marketing workshop, etc. </li></ul></ul></ul><ul><li>Tools </li></ul><ul><ul><ul><li>Investor Pitch, Executive Summary, Business Plan, Budget </li></ul></ul></ul><ul><ul><ul><li>Go-to-market Strategy, Funding Strategy </li></ul></ul></ul><ul><li>Springboard Panels </li></ul><ul><ul><ul><li>Feedback on business model, evaluation of management team, business challenges </li></ul></ul></ul><ul><ul><ul><li>Introductions to potential investors, strategic partners, customers </li></ul></ul></ul><ul><li>CONNECT </li></ul><ul><ul><ul><li>Expanded Network of industry partners, venture capital , service providers </li></ul></ul></ul>
  13. 13. Additional programs for Innovators <ul><li>BIOCOM </li></ul><ul><li>Chairmen’s Roundtable </li></ul><ul><li>CommNexus - NextStage </li></ul><ul><li>Pacific Community Ventures </li></ul><ul><li>San Diego Software Industry Council (SDSIC) </li></ul><ul><li>San Diego Venture Group (SDVG) </li></ul><ul><li>San Diego Inventors Forum </li></ul><ul><li>Angel Networks: TCA, the Private Capital Network </li></ul>These programs are complementary to Springboard, not competitive
  14. 14. Early Technology Business Assessment <ul><li>EIRs assist Tech Transfer offices and corporate clients to identify </li></ul><ul><li>commercialization potential of research discoveries </li></ul><ul><li>Format: Special Springboard EIR analysis, coaching and panels </li></ul><ul><ul><li>Faculty members present the discovery, applications </li></ul></ul><ul><ul><li>15 minute presentation, 15 minute Q&A </li></ul></ul><ul><ul><li>3-4 presentations per event </li></ul></ul><ul><ul><li>EIRs render recommendations </li></ul></ul><ul><ul><li>EIRs assigned to mentor faculty </li></ul></ul><ul><li>On the recommendation of the EIRs, the researcher/technology is </li></ul><ul><li>referred to the Springboard program </li></ul><ul><li>We are currently working with UCSD-tech-tips, SDSU, LIAI and SAIC </li></ul>
  15. 15. Springboard Outcomes <ul><li>Business audit </li></ul><ul><li>Gap analysis </li></ul><ul><li>Expanded network </li></ul><ul><li>Compelling business presentation </li></ul><ul><li>Cohesive financial model </li></ul><ul><li>Feedback on commercial potential </li></ul><ul><li>of technology </li></ul><ul><li>Evaluation of management team </li></ul><ul><li>Go-to-market strategy </li></ul><ul><li>Stronger strategic plan </li></ul><ul><li>Feedback on a specific business </li></ul><ul><li>challenge </li></ul><ul><li>Realistic funding strategy/readiness </li></ul><ul><li>for investment </li></ul><ul><li>Referrals to strategic partners, potential customers, </li></ul><ul><li>management talent and venture capital </li></ul>
  16. 16. Springboard Part of the The Process Business coaching by CONNECT EIRs Discipline to define commercialization strategy and investor pitch Springboard Panel presentation - Tailored by experienced entrepreneurs to achieve the client’s goals
  17. 17. Springboard Graduate Tracking Based on Springboard Graduate Surveys – June 2008 through June 2009
  18. 18. Recent Study* Reveals Strong Springboard Impact on Local Economy Direct Impact New Jobs, Output, Income for Company Springboard $2 million average funding received per company + Indirect Impact Jobs, Output, Income from suppliers in industries that supply goods & services directly to the Company + Induced Impact Jobs, Output, Income in Industries that serve direct & indirect employees and their families + Fiscal Impact Taxes & Fees Total Estimated Impact per Company each Year $3 million Mentoring x Economic Multiplier based on Industry Sector * Conducted by The California Space Authority and the East County EDC using the Pollack Retention and Relocation Model on a sample of Springboard companies reporting in the June 2008 Springboard Graduates Survey.
  19. 19. Springboard in the Box & Springboard International Fellowship Program <ul><li>CONNECT has developed programs to assist other regions with the commercialization of technology. </li></ul><ul><li>Springboard in the Box is a set of best practices and tools that support the Springboard process </li></ul><ul><li>Can be taught as a half day course at CONNECT (basic package) </li></ul><ul><li>Off-site, to a “CONNECT-like” organization outside of San Diego (remote package). </li></ul><ul><li>CONNECT also offers a “Train the Trainer” program – the Springboard International Fellowship Program – </li></ul><ul><li>where trainers work along side Springboard staff to learn all phases of the Springboard program. </li></ul>
  20. 20. Entrepreneurs-in-Residence (EIR)- Expectations & Requirements <ul><li>Benefits </li></ul><ul><ul><li>Mentor entrepreneurs and future innovators </li></ul></ul><ul><ul><li>Network with entrepreneurs, service providers, VCs and domain experts </li></ul></ul><ul><ul><li>Attend/participate in CONNECT program events (MITEF, FrameWorks, Frontiers) </li></ul></ul><ul><li>Activities </li></ul><ul><ul><li>Initial “Intake Session” (scrub and decision) </li></ul></ul><ul><ul><li>Assess and identify the appropriate SB category </li></ul></ul><ul><ul><li>Business audit and gap analysis </li></ul></ul><ul><ul><li>Coach accepted companies on business model, marketing strategies and financial modeling </li></ul></ul><ul><ul><li>Pull domain experts into the coaching process as needed </li></ul></ul><ul><ul><li>Assist in identifying panelists (dry-run and final) and attend panel presentations </li></ul></ul><ul><ul><li>Assist in providing post-panel action plans and milestones for future development </li></ul></ul>
  21. 21. <ul><li>Requirements </li></ul><ul><ul><li>Serve based upon experience as a CEO or C-level executive </li></ul></ul><ul><ul><li>Assist clients in the acquisition of resources </li></ul></ul><ul><ul><ul><li>Legal and financial advice, raising angel-, seed- or venture capital </li></ul></ul></ul><ul><ul><li>Commit appropriate time to coach clients </li></ul></ul><ul><ul><ul><li>Approximately 10 hrs/week for up to 6 months </li></ul></ul></ul><ul><ul><li>Upon invitation only, join the client company to complement the leadership team </li></ul></ul><ul><ul><li>Refrain from soliciting for-fee consulting services during the program period </li></ul></ul><ul><ul><li>Maintain the highest standards of integrity with regard to confidential client information </li></ul></ul>Entrepreneur-in-Residence (EIR)- Expectations & Requirements (cont’d)
  22. 22. <ul><li>Domain Experts </li></ul><ul><li>Serve based upon specific expertise in a particular industry or profession </li></ul><ul><li>Serve on dry-run panels </li></ul><ul><li>Support EIRs in coaching process </li></ul><ul><li>Maintain the highest standards of integrity with regard to confidential client information </li></ul>Domain Experts Expectations & Requirements

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