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Apply online by November 20 EntrepreneurshipFoundation By answering 19 questions

University Business Plan Competition. Apply online by November 20 www.EntrepreneurshipFoundation.org By answering 19 questions You can paste from a word doc Answers limited to 1500 characters/spaces Start-up Grants: $1000 - $1000 - $10,000. Winner pitches to CT Angel Investor Guild

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Apply online by November 20 EntrepreneurshipFoundation By answering 19 questions

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  1. University Business Plan Competition • Apply online by November 20 • www.EntrepreneurshipFoundation.org • By answering 19 questions • You can paste from a word doc • Answers limited to 1500 characters/spaces • Start-up Grants: $1000 - $1000 - $10,000. • Winner pitches to CT Angel Investor Guild • Cost: No entry fee

  2. Early Stage and University Venture Fair • Apply online • www.Back-Offices.com/VCFair • $225 including two attendees • Three-minute PowerPoint presentation plus exhibit table. • 1:00 – 7:00 pm • New Haven Lawn Club • 30 Companies/ 30 Investors

  3. Evaluating Business Opportunities North Bridge Venture Partners Signal Lake Ventures Connecticut Angel Guild Connecticut Venture Group

  4. The Deal Scorecard 1 10 1. Management 2. Market 3. Competition 4. Product/Technology 5. Ability to Forecast Results 6. Capital Intensity (Risk/Reward)

  5. Management 10 1 Senior Team Proven Record No Operating Experience • Good Teams have: • Done their jobs before (no OJT) • Experienced ramp from startup to big company • Relevant industry experience & contacts • Specialized expertise and insight • Ability to adapt to change • Brains and hunger

  6. Management • A Good Incomplete Team • Vision • Energy and hunger • Efficient (Not a drain on capital) • Appropriate role for each person • Acknowledges management gaps

  7. Market 10 1 > $1 Billion Growth capacity > 30% Stagnant • Attractive Markets: • Big ($50,000,000 potential) • Target users adopt new products quickly • Customers feel real pain • Customers can be reached economically • The time is (will be) right

  8. Competition 10 1 Potential for Leadership Several Established Players • Leading Companies: • Typically first to market • Leaders define “Market” • Leaders get market share • Market share critical to success

  9. Product/Technology 10 1 Clearly Superior Providing Leverage No Advantage • Difficult to replicate • Special technical skills required • Special user knowledge required • Proprietary technology (patents) • Many man-months to develop (time, $) • Improves rapidly with customer feedback

  10. Ability to Forecast Results 10 1 High Low • Great companies create and execute operating plans: • Plan is financial expression of strategy • Defines business model • Shows interrelation of timelines, functions, hires • Reflects detailed understanding of the business

  11. Capital Intensity 10 1 Low High • A function of: • Start-up and working-Capital needs (Risk) • Gross margins (Reward) • Sales and marketing expenses (Potential to deflate margins)

  12. No Single Recipe A B C 1 10 1. Management 2. Market 3. Competition 4. Product/Technology 5. Ability to Forecast Results 6. Capital Intensity

  13. Real World Feedback • Interview: • Customers, Analysts, Potential hires, • Potential partners, Other CEOs • Where is the pain? • Would you buy? • How many? • At what price? • How do you buy? • What could we do better? • Listen for what you don’t want to hear

  14. Venture Capital Financing Today Innovation and Entrepreneurship Panel University of Massachusetts at Amherst 24 October 2009

  15. Venture Funding in theCurrent Environment Early stage companies that require relatively small amounts of capital to reach positive cash flow, with low valuations are getting funded

  16. LENDERS: No Risk Low Return EQUITY INVESTORS: Low Risk High Return Objective of Investors

  17. Roer’s Continuum

  18. Variables Affecting the Curve External factors: Economy–Capital available –Confidence–CompetitionInternal Factors: Hot New Tech – Serial Entrepreneur – Mega Potential

  19. A $1 Million Investment …

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