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Lightning in a Bottle:  Increasing Success Outcomes for Lightning in a Bottle:  Increasing Success Outcomes for

Lightning in a Bottle: Increasing Success Outcomes for - PowerPoint Presentation

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Lightning in a Bottle: Increasing Success Outcomes for - PPT Presentation

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

product build business teams build product teams business student ideas directed team highly sheet

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Slide1

Lightning in a Bottle:

Increasing Success Outcomes for Student-Generated Startups

Slide2

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 advances ideas, people, and businesses.We act as a nexus of entrepreneurial activity by providing immersive learning experiences, collaborative spaces, and high-impact programming.

Slide3

CCEW 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

Slide4

Years 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.

Slide5

BUILD

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

Slide6

What 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

Slide7

Problem

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

Slide8

2. 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

Slide9

2. 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.

Slide10

2. 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

Slide11

3. 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

Slide12

USE 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

Slide13

USE 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

Slide14

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” 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