Entrepreneurial Options in Academia; Creating a Start Up

1. Entrepreneurial Options in Academia; Creating a Start Up

2. Who is JMD? • Background • Founded 2002 by researchers from the Georgia Tech Packaging Research Center • Exclusive license for key patents enabling advanced RF System-on-Package (SOP) products • Issued and pending patents covering Multi-Layer Organic (MLO) process, fabrication techniques and component geometries • ISO:9000 certified supplier of RF modules • Product Lines • M20000 family of RF FEMs for 802.11n • M30000 family of RF FEMs for WiMAX • Investors • InterSouth, Sevin Rosen Funds, Noro Moseley Partners, Georgia Tech, Atlanta Technology Angels

3. What We Do • Design and manufacture RF-FEMs for WLAN and WiMAX • Design and manufacture RF components for Satellite • WLAN and WiMax, Reduce time to market with patented MLO process • Embed filters, diplexers, couplers and matching networks in MLO substrate • Integrate all active components including PA’s, switches and LNA’s. • Highly customizable solution for complex applications. 802.11n PCI Express Card Smart Phone

4. Execute Your Vision • You must have a Vision • What is it that you are going to do and how are you going to do it. • You must stay true to your Vision • Do not let anyone talk you out of your vision otherwise you will always be second guessing • Ensure that the management team that you hire buys into your vision • If they do not and you bring them on board you will be in conflict and no one wins • Execute your vision • If you have secured funding then someone also has bought into the vision. There may be some tweaks here or there which is ok due to market dynamics but stay true to the vision!

5. Intellectual Property • Intellectual property is key to obtaining outside investments • What is the status of your IP • Investors will want to know this. There may be a reluctance to invest if the IP is shaky or not realized • Hire reputable IP lawyers. • Can become costly but is worth the investment • Continual IP submissions • You are going to need to have more than a single patent/application • It is imperative that you work diligently with GTRC both on IP front and royalty agreements • Remember you will also be a shareholder at GTRC as well as with the new start up. So strike a balance so as not to scare off the investors

6. Senior Management Team • Management team selection is probably the most important decision that you are going to make • Some considerations in hiring • Hire personnel knowledgeable in your space • Hire personnel with proven track records and extended Roledex’s • Hire personnel who share your vision for the direction of the company • If you are capable do not be afraid to suggest that you hire yourself as the person in charge

7. Two Paths to a Start Up

8. Private Equity • Pros • Instant access to capital provided you pass the due diligence • Extensive resources in getting access to customer names and supplier resources • Experienced in M/A process • Cons • With subsequent funding you will lose controlling interest in your company • With loss of controlling interest, your vision may not be executed

9. Organically Grown • Pros • You get to fully execute your vision • You have the flexibility to manage with the times and environment • You have no one to blame but yourself if the company fails. The buck stops with you • Cons • Limited access to capital • May take longer to realize the vision

10. Summary • GIT is a great place to launch a new venture • Top faculty and students available for consultation, employment and internship • Resources at Tech also include ATDC, GTRI, Venture Lab, GTA and other professional organizations located within the main campus.

11. Stay True to Your Vision And Best Wishes