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An Entrepreneurial Approach to Angel Investing
• Your corporate to-do-list includes:
• Contract-negotiations
• Marketing
• Vacuuming, Dusting, Garbage
• You beg your spouse,...
• Can I please go back to work again tonight
• You look at the 2009 global economic meltdown as a...
• Great Opportunity
• Your Priest asks you to describe your values,...
• you dive into your Discounted Cash Flows analysis.
You May Be An Entrepreneur If...
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Invention
• Search and Connect• Useful and Non-obvious
• Creation resulting from study and
experimentation
INNOVATION
• Economics - Change that increases value
• Art - Something substantially different• Ideas applied successfully in practice
Nikola Tesla
Thomas Edison
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Translational Research
• To improve human health, scientific discoveries must be
translated into practical applications.
Bench to Bedside
COMMERCIALIZATION
• The process or cycle of introducing a new product into the market.
Market Validation
Concept Car Production VehicleChevy Volt
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An Entrepreneurial Approach to Angel Investing
Exit Strategy
Financial
Projections
and Use of
FundsManagement
Team
Competitive
Analysis
Partners and
Collaborators
Market Size
and Entry
Product or
Service
Barriers to
EntryDiligence Process
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An Entrepreneurial Approach to Angel Investing
Concept Prod-
Dev Launch Profitability Growth Next?
• Idea• Market Opp• Patent App• Virtual• Some Market
Research• No cash• Exit? Goals?
• Prototype• User Feedback • Defensible IP• Lean / Staff •
Comps
• Seed $$• Biz case
• V1 Product• Manufact/QA• FTO-IP• Infrastructure• Sales forecast•
Sales Execution
• Differentiation• Case for
profitability • Bootstrap/$$
• Market %• GM%• Expansion• Geog scope• Valuation• Exit positioning• Threats/change• Reinvest/div
• Startup No more
Success in one phase ticket to play next phase
Startup Phase Changes
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An Entrepreneurial Approach to Angel Investing
Concept
VC
StrategicPartners
Angels
Family &Friends
BootstrapGrants
VendorsCustomers
PrivateEquity
BankingExit/ROI
Time
Entity Value
Funding Lifecycle
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Q&AJim Dehlsen
Are some wind turbine designs more commercially acceptable than others based on
visual comfort?
What commercialization hurdles might an entrepreneur face when tech is tootransformative
Umesh Mishra• Are your customer and your end user different?
• How and when do you bring your user and your customer into the design discussion?
KT Moortgat• Does the VC market favor the tech of efficiency versus the tech of Alternative Energy
generation? In other words is it better to invest in prevention or cure?