The Next Great Business Idea Thats a GREAT Idea Agenda Announcements TMP Prep Courses F undamentals of a good business idea Resources Mixing 645PM to 8PM 2 Announcements Please pick up your trash ID: 762395
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The Next Great Business Idea… That’s a GREAT Idea!
Agenda: Announcements TMP Prep Courses F undamentals of a good business idea Resources Mixing (6:45PM to 8PM )2
Announcements Please pick up your trash! 3
Announcements Key Dates Ahead:NVC Student / Mentor Ideation Mixer, Thursday, Nov 16Elevator Pitch Social, Tuesday, Nov 30 Details can be found on the TMP Website 4
Announcements NVC Team-finder Google group is live:https ://groups.google.com/forum/#!forum/nvc-2018-team-finder/newThis link (and these slides) can be on the NVC Resources Page
NVC Prep Courses TMP 148/268: New Venture Seminar TMP 149/269: Developing a Market Tested Business ModelTMP 291: Strategic Communications
TMP 148 / 268 – Matthew Stotts Hypothesize, design, test, build and present your own viable, fundable startup.Learn from proven, tested case studies of the best startup successes AND failures. Get tips and tricks from in-class sessions with top startup founders from LA, SF and SB.
TMP 148A / 268A Mon / Wed 3:30 - 4:45 Limited enrollment (30 to 40)Acceptance based on team, commitment, ideaPriority given to complete teams2 Units 8
Developing a Market Tested Business Model “Best class I’ve taken at UCSB.” – 2016 TMP 149 student“Most ‘real world’ class I’ve ever had.” – 2017 TMP 149 studentTMP 149 prepares student teams to enter the NVC10 of 20 teams at 2017 New Venture Fair came from TMP 149 L earn how to determine whether your business concept is viable Learn how to start your own company Win NVC prize money Different than any other class you’ve taken. (T/R 4:00pm-5:50pm) Questions or for more info, email Jason at spievak@ucsb.edu TMP 149A / 249A – Jason Spievak
TMP 149A / 249A Developing a Market Tested Business M odelTues / Thurs, 4:00 - 5:50Limited enrollment - 10 teams acceptedApplication / interview process to enrollMust have full team (4 to 5 members) to enroll Flipped classroom - based on Steve Blank’s “Lean Launch” Weekly: Conduct 10 customer interview, present to class Rigorous and transformational 4 units 10
TMP 291
TMP Prep Courses - Reminders For 148/268 and 149/269 you will need an add code to enrollAdd codes not provided until accepted into the class by the instructorTMP 148 / 268: Application for early acceptance must be submitted by Dec. 1st Required: Business Idea, Team of at Least 2, Commitment to NVC TMP 149 / 269: Application for early acceptance must be submitted by Dec. 1st Send to Sarah Hilliard- swhilliard@tmp.ucsb.edu Interviews week of December 4 th -7 th – you must sign up for an interview time slot through sign-up genius. http:// www.signupgenius.com /go/60b0d4aaba723a1f85-tmp149 Required: Business Idea, Team of at Least 3, Commitment, Thick Skin Application forms are posted on the TMP website/ NVC/ Resources 12
Fundamentals of a Good Business Idea 13 That’s a GREAT Idea!
Fundamentals of a Good Business Idea Product / service solves a real problemProducts looking for a problem may have a tougher road to success New technologies may enable a new solutionProduct / service clearly performs better than the incumbentYou don’t have to be first, but you do need to be notably better Product / service has a compelling value propositionBenefit exceeds the cost to the buyer Disrupts or leverages an established market Addresses an under-served segment of market 14
Inogen Inc., NVC 2001 Winner Portable oxygen concentrator Entrepreneurs of the Year, Ernst & Young 30 Under 30: Coolest Entrepreneurs in America, Inc . Magazine Founded 2001 in NVC Challenging road to success IPO Q1, 2014 Projected 2015 Revenue $150M+ Market cap of $1 B +
Solves a real problemOffers a superior product for mobile oxygen usersProduct has a compelling value proposition and willing buyersDisrupts an established market Caters to an under-served segment of the market16
Phone Halo Inc., NVC 2009 Winner Featured on Regis & Kelly CNBC TechSpot March 2011 Popular Mechanics Editors Choice Technology Award 2011
Solves a real problem in an elegant fashionOffers a superior solution for finding small personal itemsHas a compelling value propositionCreates a platform for additional products 18
Next Energy Technologies - NVC 2010 Winner Plastic Solar-Cell Technology developed at UCSB by founder Corey Hoven Windows that generate energy from the sun
Technology-enabled product / solution Provides an alternative for generating solar powerSolves the problem of unsuitable rooftops 20
Startup Ideas – Other Suggestions Focus on developing the idea firstValue proposition / product-market fit / business modelWorry about launching and building the business laterIf an idea isn’t coming to you, look outwardBrainstorm ideas with teammatesKeep a notebook so you can iterate ideas Listen for frustrations, complaints, wishes, dreams, etc. Join a team with an idea that is looking for help 21
Startup Ideas – Other Suggestions Apply what you or a teammate know Domain knowledge is critical to establishing credibilityDon’t be deterred by not being first to marketHave a thesis about what alternative products are missingMake sure your product / service solves the problem betterDon’t shy away from ideas that aren’t exciting Some very good and successful ideas lie in the messy and tedious 22
Other Resources for Ideas
Locating UCSB Technologies: TIA – Technology Industry Alliance at UCSB UCSB has 250 technologies available for licensing in a diverse array of markets – from software to clean-tech to medical To locate potential technologies : Technology Transfer Office “Available Technologies” Website Searchable by keyword, inventor, market area UCSB technologies disclosed to TIA & available for licensing are included Can also review UCSB p ress releases / publications Networking with student researchers
TIA Available Technology Database http://tia.ucsb.edu/find-technologies /
TIA – Technology Industry Alliance If you locate a technology interesting for NVC:Contact Lauren Dobis , TIA Marketing Manager dobis@tia.ucsb.eduInformation on the technologyVerify availabilityConnect you with associated facultyDiscuss intent to start a business
Some Additional Resources TMP on LinkedIn: https://www.linkedin.com/company/7937804/ on Facebook: http://www.facebook.com/TMPUCSB Paul Graham: www.paulgraham.com/startupideas.htmlQuora: www.quora.com Steven Johnson: http ://www.ted.com/talks/steven_johnson_where_good_ideas_come_from?language= en UCSB , Technology and Industry Alliance: http://tia.ucsb.edu/find-technologies / 27
Please Like our Facebook Page Search TMP New Venture Competitionhttps://www.facebook.com/tmpnewventurecompetition/Easiest way to stay informed on all the latest with the New Venture Competition
Utility Scale Solar
Panel Soiling
Guarantee Actual Performance Contractual Performance
Survey: Idea vs. No ideaComplete team vs. Looking for members vs. looking for a team STEM vs. Liberal Arts / HumanitiesInterested in hardware vs. software
Mix: Ideas with team members on the outside of the roomPeople looking for a team on the insideTeam “finders” move to next station every 2 to 3 minutesMove clockwise only!
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