StudentGenerated Startups The CCEW Mission We believe in the excellence of Oklahoma and our ability to transform the world by inspiring people to realize their ideas and ambitions We create wealth by building an environment that ID: 782113
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Slide1
Lightning in a Bottle:
Increasing Success Outcomes for Student-Generated Startups
Slide2The CCEW Mission
We
believe
in the
excellence of Oklahoma
and our ability to transform the world by inspiring people to realize their ideas and ambitions.We create wealth by building an environment that advances ideas, people, and businesses.We act as a nexus of entrepreneurial activity by providing immersive learning experiences, collaborative spaces, and high-impact programming.
Slide3CCEW has developed significant expertise in managing student entrepreneurial projects.
THE CCEW IMPACT
$7M
in startup capital
10
businesses launched
10
new tech disclosures
7
licensing agreements
350+
alumni
100+
projects
High-achieving students and established leaders on campus
Students with raised aspirations and passion for entrepreneurship
Management consulting training
+
Lean startup
principles
+
P
ersonal & professional development
Semester-long Entrepreneurship/Innovation projects
Slide4Years of iteration have led to 3 key methods that contribute to successful student projects.
1. BUILD
HIGHLY SELECTIVE
INTERDISCIPLINARY
TEAMS so startups are equipped to simultaneously build products and analyze the
broader market opportunity.
2. UTILIZE “DIRECTED CLEAN-SHEET” CONCEPTto guide brainstorming and help student teams ideate the best possible business and product ideas.3. USE HUMAN-CENTERED DESIGN APPROACHESto iterate on business ideas and better position teams for real-world success.
Slide5BUILD
HIGHLY SELECTIVE
INTERDISCIPLINARY
TEAMS
Example –
XiP
TechnologiesFUNDING OBTAINED $10,000 through venture acceleratorCURRENT STATUSContinuing development of hardware component for roll-out of Beta at OU
Slide6What did it look like?
What are the benefits?
Industrial Engineering (TL)
Public Relations
Energy Management, Finance
Public Affairs & AdministrationMathematics, LettersVisual Communication
Team gains a broader perspective on the projectStudents more easily take ownership of project componentsOutput is physical product AND commercialization plan“Business” teamDev team
4 Computer Science
2 Computer Engineering
1 Math, CS
Team Structure by Major
5 colleges represented
10 different majors
Average GPA = 3.78
BUILD HIGHLY SELECTIVE INTERDISCIPLINARY TEAMSExample –
XiP Technologies
Slide7Problem
Result
Project
No
designated
product designers or engineers
Ineffective prototype, lack of team buy-in and motivation to move forwardLow-cost cooling device made of Vetiver rootTeam Structure by Major3 Telecomm. Engineering 1 Multidisciplinary Studies
BUILD
HIGHLY SELECTIVE
INTERDISCIPLINARY TEAMS
Example –
Veticool
Slide82. UTILIZE “DIRECTED CLEAN-SHEET” CONCEPT
Example - SIREN
FUNDING OBTAINED
$
3
5,000
through business plan competitions and grantsCURRENT STATUSFinalizing Beta version of software to roll out in 2 trucking companies (650 trucks) in OK
Slide92. UTILIZE “DIRECTED CLEAN-SHEET” CONCEPT
Example - SIREN
What did it look like?
What are the benefits?
Team can be directed toward more successful ideas
Team brainstorming and research becomes more structured
Ideation and early validation moves much more quickly“SoBA data-mining” projectIdeate and build a software-as-a-service web application that mines publicly available data and repackages it in a way that solves an industry need.
Slide102. UTILIZE “DIRECTED CLEAN-SHEET” CONCEPT
Example - CrowdStory
Problem
Result
Project
Mobile application for location-based storytelling
Not enough guidance and direction through ideation
No validated customer need, difficult to gain
traction
Project fizzled out after semester, no student motivation to move forward
Slide113. USE HUMAN-CENTERED DESIGN APPROACHES
Example – Levaté
FUNDING OBTAINED
$10,000 through business accelerator
CURRENT STATUS
Seeking final $40K of $200K seed round to produce first manufactured prototype
Slide12USE HUMAN-CENTERED DESIGN APPROACHES
Example – Levaté
What did it look like?
What are the benefits?
High chance of achieving
Product-Market
FitTeams understand features necessary for MVPTeams make valuable connections to further the business
7
user-experience tests
6 prototypes
100+ interviews
Slide13USE HUMAN-CENTERED DESIGN APPROACHES
Example – Studyo
Mobile application for socially interactive studying
Didn’t build product in a way that accommodated iteration based on user feedback
End
product didn’t meet
user needsNo product-market fit = lack of motivation to move forwardProblemResultProject
Slide141. BUILD
HIGHLY SELECTIVE INTERDISCIPLINARY TEAMS so startups are equipped to simultaneously build products and analyze the broader market opportunity.
2. UTILIZE “DIRECTED CLEAN-SHEET” CONCEPT
t
o guide brainstorming and help student teams ideate the best possible business and product ideas.
3. USE HUMAN-CENTERED DESIGN APPROACHES
to iterate on business ideas and better position teams for real-world success.Lightning in a Bottle:Increasing Success Outcomes for Student-Generated Startups