MPP IEI - Making Entrepreneurs' Dream

Copyright 2009-2010 Audax Center for Entrepreneurship ISCTE-IUL

Beyond the business plan


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ISCTE-IUL MIT Portugal Venture Competition

What?

For? People with a dream,

� Would-be Entrepreneurs� Innovators

– Start-up's / Spin-off's under 5y and <2,5M€

Is an Entrepreneurial, technology-based Venture competition


Our Goals:

• Identify and reward projects at an seed/early stage with a clear global value proposition

• Enable a 10x to 20x pre-money valuation within first years of venture

• Connect global Innovators to global Investors


In brief

� International technology venture competition � Held once a year� 4 Market-application tracks:

1. Lifesciences

2. Sustainable Energy & Transportation systems

3. Information Technology and the Web

4. Other Products and Services


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• 33.600 companies founded by living MIT alumni (76% alive, employing 3.3M)

• Annual revenues of $2 trillion (~10x the GDP of Portugal)

• Annual R&D CAPEX: $650M (54% privately sponsored)

• 500+ patents/y (280+ filed/y)

• $90M license revenue ('08)

• 72 MIT Nobel Prize winners (7 current faculty members)

Partnership with MIT & MIT-Portugal in tech ventures


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Creating a Culture for technological Innovation

Encouraging researchers to “reach for the

stars” and do risky things, cultivating an

understanding that “it’s OK to fail.”Nobel Laureate Ivar Giaever (1973) & Chief Technology Officer of Applied

BioPhysics


• Target: “Starts” where other BP competitions end

• Tools: 100+ hours of training and coaching in Go-to-Market strategies with entrepreneurs, during Selection

• Focus: International catalyst ecosystem, during Venture

...all of which, foster connections to international investors.

Unique aspects:


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Audax:- a unique pedigree in fostering entrepreneurship & Innovation

Pool of investors

(BA, VC & business partners

Consultancy: bus. Strategy,

technology investments,

Advanced control

Business plans (start-up & follow-on investments)

Finance of sources of Capital,

inc. VC Fund co - managment

• Support 150+ projects in 5y (33 start-ups; ~8M€ raised)

• Over 25 strategic partnerships (KPMG, CGD, BCP, APCRI, InovCapital, APBA...)

• Unique Educational programs (PEC, PEF)

• CoHitec Lisboa manager

• Annual events:

- Audax TV 2008 (6% share, TV2)

- Entrepreneurship conference (+200 participants /y)


€0.5M to 4

Finalists

95

Applications

(2010)

20 Semi-

finalists

Process overview

€0.5M upon

execution

Teams work on

Award

Milestones

Selection

Stage

Venture

Stage

Up to 5

years

March to

November


2010 - A Snapshot

Visits

Entries from 6 countries

Portugal, Spain, France,

UK, Canada, USA

367 aspiring

globalpreneurs

Coaching with

entrepreneurs

100+ hours in Go-to-Market strategies


2011 Edition:-

Completed tasks

• Held a joint press conference with MIT-Portugal

• Released 1st Venture Competition newsletter

• Launched the 2011 competition Rules & Regulations

• Completed the Roadshow in Portugal (22 Institutions nationwide)

• Gaining social traction Facebook and Linkedin


2011 Edition:- Key

Dates

February 14th: Roadshow starts

March 10th: Submission period opens

May 15th: Deadline for project's submission

June 30th: Semi-finalists' announcement

July 13-15th: 3-day Crash Course

September 22th: Track Finals event

November 17th: Grand Finale event


IdeaStream @ MITApril 2011

• 1 week trip: business development basics and networking

• Goals− Participation at MIT IdeaStream

• Financing opportunities

− Strengthen relationship with US-based Catalysts− Network with teams/ventures

• Links to provide access to US marketplace

− Kick-off Quarterly Reviews• with US-based Catalyst and IEI staff

• Opportunity to strengthen network of Alumni

• Significantly expand MIT Portugal “brand” and US-based

volunteers for 2011 Competition


IdeaStream gathers together the leading minds in innovation and entrepreneurship for an invitation-only event each spring. Top-name venture capitalists, successful entrepreneurs, and MIT researchers consider this a must-attend event.

IdeaStream:-

the Lab-to-Market Symposium


2010 Finalists

Track: Lifesciences

• Plux develops innovative solutions for Healthcare, Sports and Scientific research, like bioPLUX clinical system an efficient tool for physical therapy. • Hardware: zero configuration turnkey solution and Bluetooth wireless; Software: unprecedented usabilityUser-friendly and intuitive

Track: E&T

• Waynergy is a system that converts the linear motion of the surface to actuate an electromagnetic technology device that generates electricity.• It reduces the electric energy costs by 50 to 80% in places with great affluence of people or vehicles, applying its energy generation system on the floor.


2010 Finalists

Track: P&S

BIPS was the 2010 Winner• Around Knowledge developed BIPS, a solutions able to track individual paths, retrieve times and trends automatically. It is up to 89% less expensive than traditional solutions, and it is able to preserve privacy. • It provides higher confidence levels and data in real time.

• Weadapt develops and sells inclusive products, aimed at the market of people with special needs, contributing to their inclusion and rehabilitation by increasing their self-esteem, well-being, comfort, autonomy and quality of life. • Products: Body Me and Sense Me.

Track: IT & Web


2010 Honorable

Mentions

Track: E&T

• Acellera Therapeutics is developing a drug: ACE-1, that reduces the risk of liver transplant rejection and death for the 70,000 people currently living with transplanted livers, without the severe adverse effects of current treatments. • Competes on efficacy and on price with current treatments calculated in up to €19,000 per patient in post-surgical costs.

• PV Solutions is developing a “ribbon” process that produces wafers for photovoltaic panels, directly from feedstock, by-passing the 3 most expensive and energy consuming steps of present technology• The silicon wafer accounts for ~74% of the direct costs of a state-of-the-art solar cell company.

Track: Lifesciences


Partners

Organising Partners:

Award Partner:

Media Partners:


More

information?

Gonçalo Amorim:

[email protected]

MIT Portugal – Innovation & Entrepreneurship Program Manager

Catarina Madeira:

[email protected]

MIT Portugal – Innovation & Entrepreneurship Operations Coordinator


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Making entrepreneurs' dreams come true