Davinci bootcamp

9 months: DaVinci09 to

birth of Flip-Pal™

Gordon NuttallRocky Mountain Ventures Company

gordon.nuttall@rmven.netwww.rockymtnventures.com

www.flip-pal.comwww.capture-id.com

T-12

• Kicked out of the nest• Too many ideas for corporate• Build foundation on

highest core values (not $)

T-11Hmmm .... Top talent

available

Organic innovation (skunkworks) vanquished

Being CEO is a lot like being a jobseeker

Golden years

Not the way

it used to beHigh stage-gate

thresholds

Idled technologies

Workplace

espirit-de-corp

Broadmarketing

T-10

• Met with Michael Bissonnette on Investor Direct Funding

• First subscription in 21 days, 65k$ in 40 days

• Wow, this is where commitment struck home (and sleepless nights)

The Angels flew away in fall 2008

T-9

• DaVinci 09

Innovations award

• Pregnant

T-8

• What the heck am I doing ?• Who am I ?• Act as if you are

that experiencedCEO, knowing you have a teamwith youshoulder-to-shoulder

T-7

• Marketing– Choose launch– Focus groups ** Go Bright **July 27 Chicago

T-6gone to the dark side

T-5

• 26 days from DPO registration submit to granted by DORA

• Multiple direct mail revisions and interviews

• No money

T-4

• DPO 600k min, 880k max• Bring 'em on

• No money

Pitch, pitch, pitch

T-3

• 180k$ payment due for NRE• Markets tank• Adventure investors under the mattress

• No money

T-2

• Go-to-Market expenses• A baby is ready for life, ...

• No money

T-1

• 'Three Feet from Gold' meetingwith Supplier's president

• Funded holiday season (850k$)• Changed game from 'if' to 'how big'

Credibility

Trust

Team

Relationship

* GO LIVE *9 months: Davinci09 to July 27

Innovation award

My Lessons to Share

FundraisingPersonal

Team

My Fundraising Lessons part 1

• Fill your toolbox. Spread a wide net. – Pick parts that are congruent with your DNA

• No traction– Web-based 'matchmakers'– direct mail

• Lists ?• Who reads snail-mail flyers these days • Better from NCBR and BCBR, but you must capture their visits to website

– pitches in groups, even with special incentives and bonuses– business plan

• Relationship & Networking

My Fundraising Lessons part 2

• PPMs worked for me• DPO - not so much– Hotel pitches expensive and time-consuming– Not a good choice for me because of time-to-market– Adventure Investors disappeared in April. Will they

ever come back?– Smaller minimum escrow in this economy

• I'll scream if I hear again "If you were here in mid-2008, you'd have this done in a week"

• Relationship & Networking

My Fundraising Lessons part 3

• Self-directed IRAs are a good mechanism– Provided white paper with personal contact

• Affinity/cause investors was my sweet spot– Some crossover from virgin investors– Adventure Investors dried up in April– 1-on-1, not groups

• Relationship & Networking

My I.P. lessons

• Exclusive cross-licensing with Supplier • Provisional patents• Trademarks• Trade secrets• Market research– Consistent branding– Focus groups to develop KSPs and branding– First-gen prototype

Team part 1

• DNA, DNA, DNA• Sweat equity - consultants– Log Accrued hours worked– Use Salary.com to set hourly pay

(add 30%)– Pay portions as funding becomes available– Option to convert to equity at 80% of current offering

• Weekly 'all hands' meeting• Empower

Team part 2

Culture/DNA

• The middle 'C' is collaboration

• Co-create innovation

Celebrate, create tradition, and be thankful

Personal part 1

• Never, ever give up – You are 5 feet from gold– Day by day, overcome fear

with courage. You've got it• It's hard work, sprinkled with days of ecstasy• It's better to fail/learn by trying than to not try

and constantly wonder 'I should have'• Being CEO is at least ½ fundraising – Learn from job seekers– Rollercoaster highs and lows

Personal part 2

There's nothing quite as rewarding than doing your business venture the way

you think it should be done

It's not just for quick bucks

Excuses

Start your company

Do it with passion, courage, and congruence

with your DNA

And, in the evening ....

9 months: DaVinci09 to

birth of Flip-Pal™

Gordon NuttallRocky Mountain Ventures Company

gordon.nuttall@rmven.netwww.rockymtnventures.com

www.flip-pal.comwww.capture-id.com

ENRICHING LIFE ... SHARING MEMORIES ...ANYWHERE ... ANYTIME$150 MSRP

CONSUMERMODEL

COMMERCIALMODEL

WIRELESS AND ACCURATE CAPTURE OF DOCS AND ID AWAY FROM DESKREDUCE RISK AND COST OF HANDLING PAPERCONFIGURATIONS STARTING AT $250

patented

Flip-and-Scan

technology

patented Scan-in-Binding

technologyMobile scanning

technology platform

.

Vision

• Exploit segments vacated or untapped by major firms with markets from 50-100M$ and high margins

Customer Mass retailers

Major firm

Customer - with customization

Mass retailers

B2C Web

B2B Targeted

marketing

Downsized major firm Focused product

providersRM Ventures