•  Working  Capital  •  Cash  Flow  Management  

•  Features  &  Performance  •  Design  &  Development  

•  Marke<ng  Strategy  &  Plan  •  Media  and  Public  Rela<ons    •  Sales  Strategy  &  Plan  •  Customer  Rel.  &  Tech  Support    •  Manufacturing  &  Produc<on  •  Management  &  Administra<on    •  Facili<es  &  Equipment  •  Real  Estate  

•  Performance  Evalua<on  •  Con<nuous  Improvement  

1.  No.  of  Student  Startups  Created  2.  No.  of  Faculty  Startups  Created  3.  No.  of  transac<ons  and  total  amount  

of  capital  raised  

1.  No.  and  total  amount  of  E*Ship  related  Endowed  Fund  GiNs  

2.  No.  and  total  amount  of  Expendable  Fund  GiNs  

OPPORTUNITY!  

Viability  

Benefits  To  Others  

Benefits  To  Self  

Verify  Feasibility  of  Building  a  Business  Around  the  InvenBon  

GROWTH!  

OperaBons  

EffecBveness  Efficiency  

Grow  the  Business  and  OpBmize  Performance  

1.   Product  or  Process  Idea  

2.   Market  

3.   Customers  

4.   CompeBtors  

5.   MarkeBng  &  Sales  

6.   Revenue  Model  

7.   Funding  

1.   Key  People  

2.   Intellectual  Capital  

3.   Bootstrapping  

4.   Customer  Financing  

5.   Equity  Capital  

6.   Debt  Capital  

7.   Other  Funding  Sources  

•  What  is  it  (Proof-­‐of-­‐Concept)?  •  What  makes  it  unique  (IP)?  

•  Define  the  specific  Market?  •  How  big  is  it  (units  +  dollars)?    •  Who  will  buy  it?  Why?  •  How  do  they  buy?  

•  What/who  are  the  compe<tors?  •  How  do  they  stack  up?    •  Why  is  it  aXrac<ve  to  buyers  •  How  will  you  reach  them?    •  How  will  you  make  money?  •  How  long  will  it  take?  

•  How  much  money  is  needed?  •  What  type  of  money  is  it?  

•  Startup  Team  •  Boards  and  Advisors  

•  Compe<<ve  Advantage  •  Trade/Process  Secrets  

•  Personal  Savings  &  Credit  •  Family  &  Friends  

•  Crowdfunding  •  Progress  Payments    •  Angel  Investors  •  Venture  Capital    •  Bank  Loans  •  Receivables  Factoring    •  Grants  and  GiNs  •  EDA  Incen<ve  Programs  

1.   Business  Planning  

2.   Human  Resources  

3.   Intellectual  Property  

4.   Prototyping  

5.   Business  OrganizaBon  

6.   Risk  MiBgaBon  

7.   Key  Support  Systems  

•  Refined  Business  Model  •  Investor-­‐Friendly  B-­‐Plan  &  Pitch  

•  Management  &  Administra<ve  •  Technical,  Sales  &  Opera<ons  

•  IP  Strategy  •  IP  Protec<on  

•  Products  •  Services  

•  Legal  Structure  •  HR-­‐Management  Team    •  Financial  (Insurance)  •  Regulatory  &  Public  Policy    •  Accoun<ng  &  Cash  Control  •  Informa<on  Technology  

1.   Finance  &  AccounBng  

2.   Product/Service  Development  

3.   MarkeBng  

4.   Sales  &  Customer  Service  

5.   OperaBons  

6.   Capital  Assets  

7.   Strategy  &  OpBmizaBon  

IMPACT!  

Outcome  

Social  Progress  

Economic  Growth  

Celebrate  Impact  on  Personal,  Local  and  Global  Ecosystem  

1.   Customer  Impact  

2.   Owner  Impact  

3.   Employee  Impact  

4.   Supplier  Impact  

5.   InsBtuBonal  Impact  

6.   “Communiversity”  Impact  

7.   Global  Impact  

•  A  Problem  Solved  Well  •  Lifestyle/Process  Improved    •  Success  –  Wealth  Management  •  Fulfillment  –  Happiness    •  Job  Sa<sfac<on/Income  •  Personal/Career  Growth    •  Consistent  Business  •  Fair  Payment  Terms    •  Increased  Prominence/Pres<ge  •  Increased  Budget  Support    •  Corporate  Stewardship  •  BeXer  Alumni/ae  Engagement    •  Global  Challenges  Addressed  •  Sustainable  Growth  Promoted  

The innovator’s Commercialization & New Venture Framework V2.4  An  Ecosystem-­‐Based  Process  Model  for  Crea<ng  and  Sustaining  World-­‐Class  Business  Ventures  at  Rensselaer  Polytechnic  Ins<tute  

FOUNDATION!  

Resources  

Qualified  People  

Sufficient  Capital  

IdenBfy  Key  People  and  Financial  Resources  Needed  

© Copyright 2015. James E. Spencer, Jr. All Rights Reserved.

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Mentors,  Marke<ng,  Sales,  Quality,  Manufacturing,  Customer  Service  

Prototyping,  Legal,  HR,  Accoun<ng,  Insurance  &  IT  

Personal  Network  and  Financial  Professionals  

RPI  &  Venture  Stakeholders,  Wealth  Management,  &  Outreach  

Coaches,  Mentors  Entrepreneurs  in  Residence  &  Professional  Advisors  

Sales    –    Grants    –    Angel  Investors    –    Venture  Capital    –    Lenders  Personal    Savings  &  Credit  –  Family  –  Friends  –  Grants  –  CrowdFunding  –  Pre-­‐Sale  Deposits  

ASSESS   PREPARE   LAUNCH   MANAGE   PROSPER  

INVENTION!  

Discovery  

Unique  IP  IdenBfiable  UBlity  

Solve  a  Meaningful  Problem    by  InvenBng  a  Valuable  SoluBon  

Students  &  Faculty  Researchers  and  Entrepreneurs  

CREATE  Create  and  Sustain  a  Culture  of  Discovery  &  InnovaBon  

Staff,  Faculty  &  Student  E*Ship  &  Innova<on  Champions  

CULTIVATE  

Annual  Fund,  Sponsorships,  Grants,  Contracts,  Research  Agreements  

Conquering  Evil  

6  

LOSSES!  

Failed/Poor  ExecuBon  

Delays   Setbacks  

3  

DELUSION!  

Not  Viable  as  a  Business  

Useless  to  Self  

Useless  to  Others  

Idea  has  no  PracBcal  Value  or  Reasonable  Path  to  Market  

Minimal  Market  Impact  and  Diminished  Business  Viability  

7  

REPUTATION!  

NegaBve  Outcome  

Fraud/Shame  

Waste/  Bankruptcy  

Unfulfilling  Achievements  and  QuesBonable  Results  

4  

ROADBLOCK!  

Limited  or  No  Resources  

Insufficient  Capital  

Poor  QualificaBons  

Inability  to  Develop  Idea  into  a  Viable  Business  EnBty  

Limited  Funding  OpportuniBes  &  Minimal  Growth  PotenBal  

FAILURE!  

Lack  of  OrganizaBon  

Chaos   Confusion  

5  

Wa

rn

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Sig

ns  

Conquering  Evil  

2  

DEAD-­‐END!  

Shallow  Ideas  

No  PracBcal  ApplicaBon  

Obvious  Prior  Art  

InvenBon  Does  Not  Represent  A  Compelling  Value  ProposiBon  

Conquering  Evil  

1  

APATHY!  

No  IncenBve  to  Innovate  

Fear  of  Disclosure  

No  Market  Awareness  

Discovery  and  Development  Does  Not  SBmulate  InnovaBon  

START-­‐UP!  

OrganizaBon  

Finalize  Planning  and  Launch  the  Business  

Appropriate  Structure  

EffecBve  Processes  

Inven<on  &  Design  Courses,    Labs  and  Projects  

Rensselaer  Emerging  Ventures  Ecosystem    Accelerator  Laboratory  (REVEAL)  

Severino  Center  for  Technological  Entrepreneurship  

Campus  Innova<on  &  E*Ship  Courses  &  Ac<vi<es  

Emerging  Ventures  Ecosystem  (EVE)   Rensselaer  Technology  Park  

IP  Policy  Familiariza<on   Research  Agreements  &  Disclosures   Student  Disclosures  &  IP  Waivers   Rensselaer  Owned-­‐IP  Protec<on  Opportunity  IP  Screening   Rensselaer-­‐Owned  IP  Licensing   IP  Licensing  Poriolio  &  Income  

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Useful   Non-­‐  Obvious  

Valuable    Novelty  

Self-­‐Interest   Service  

Relevance  

Capacity   Capability  

Readiness  

Workgroups   Workflow  

Business  System  

Business  Produc<vity  

Alignment   Selec<vity  

Improved  Quality  of  Life  

Financial  Strength  

Produc<ve  Rela<onships  

Diminished  Quality  of  Life  

Insolvency   Disgrace  Ignorance   Discouragement  

Status  Quo  

Imprac<cal   Mundane  

Hobby/  Experiment  

No  Personal  Benefit  

No  Commercial  Value  

Irrelevant  

Weak  Value  Proposi<on  

Weak    Management  

Team  

Ques<onable  Opportunity  

Undefined,  Unmanaged  

Roles  

Undefined,  Unmanaged  Priori<es  

Low  Morale,  Frustra<on  

Poor  Planning    and  Execu<on  

Undefined,  Poor  Strategy  

Poor  Produc<vity  

1.   Industrial  Product  

2.   Industrial  Process  

3.   Socware/Internet  

4.   Consumer  Product  

5.   Consumer  Service    

6.   Business  to  Business  Service  

7.   Biotech/Medical  

•  Hardware  •  Industrial  SoNware  

•  Algorithm/SoNware  •  Process  Control    •  SoNware  Applica<on  •  SoNware  as  a  Service/Plaiorm    •  Consumable  •  Device/System  

•  Professional  •  Retail/Lifestyle    •  Professional  •  Corporate  

•  Pharmacological/Treatments  •  Medical  Devices  

www.RPiHUB.org  

Version: 010115

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Rensselaer Polytechnic Institute

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1.  No.  of  student  E*Ship  programs  2.  No.  student  program  par<cipants  3.  No.  courses  w/E*Ship  modules  4.  Total  $$  for  E*Ship  &  New  Ventures  

1.  No.  of  students  in  PDI  program  and  Inventor  studio  classes.  

2.  No.  of  student  patent  disclosures  3.  No.  of  faculty  patent  disclosures  

1.  No.  of  student  projects  with  commercializa<on  poten<al  

2.  No.  of  student  Foundry  Par<cipants  3.  No.  of  student  prototype  grants  given  

1.  No.  of  ac<ve,  registered  Mentors.  2.  No.  &  type  of  REVEAL  Cohort  members  3.  No.  of  RPI  IP  Licenses  to  Startups  4.  No.  and  total  value  of  prototype  grants  

1.  No.  of  ac<ve,  Clients  &  Mentors.  2.  No.  of  ac<ve  Advisory  Boards  3.  Annual  Client  Sales  Revenues  4.  Es<mated  Client  Poriolio  Valua<on  

Intellectual  Property  

InsBtute  Programs  

Resources  

Funding  Sources  

1.   InsBtuBonal  Commitment  

2.   Core  Competencies/Disciplines  

3.   Top  Talent  

4.   InnovaBon  Infrastructure  

5.   Interdisciplinary  CollaboraBons  

6.   Intellectual  Property  Policy    

7.   Student  &  Faculty  Networking  

•  Strategic  •  Financial  

•  Research  Priori<es  •  Educa<onal  Priori<es  

•  Mo<vated  &  Suppor<ve  Faculty  •  “Entrepreneurial”  Students    •  Accessible  Facili<es  &  Equipment  •  Commercializa<on  Programs    •  Research  Centers  &  Plaiorms  •  Special  Projects  &  Programs    •  Perceived  as  Fair  and  Balanced  •  Protects  &  Rewards  Stakeholders  

•  Conferences  &  Symposia  •  Compe<<ons  &  Challenges  

INSPIRATION!  

MoBvaBon  

Challenging  OpportuniBes  

SupporBve  Environment  

Ambi<on   Encouragement  

Innova<on  Culture  

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