launching the venture

“Top Launch Program in the Country - 2006”

Launching the Venture

Patrick Vernon: LTV I Teams

Randy Myer: LTV II Feasibility

Ted Zoller: LTV III Business Planning

LTV IV Financing

LTV Description• Four-part series of courses • Teach, empower and inspire

entrepreneurial teams at UNC • Commercial businesses and

social ventures• Students, faculty, staff or other;

at least one UNC liaison• Lectures, workshops, panels,

speakers and expert coaching and mentoring

Feasibility Oct 19 – Dec 7

Business Planning

Jan 11 – Feb 22Financials

March 15 – April 26

Team BuildingAug 18 – Oct 5

LTV Phases

Feasibility Oct 19 – Dec 7

Business Planning

Jan 11 – Feb 22Financials

March 15 – April 26

Team BuildingAug 18 – Oct 5

Open enrollmentLectures and Panels

Application due Oct. 120-24 Teams

Lectures and Coaches

6-8 TeamsWorkshops and Investor

Relations

12-16 TeamsLectures and Cohorts

OutcomesFeasibility Assessment

& Elevator Pitch

OutcomesTeam and

LTV II Application

OutcomesPreliminary Plan and

Venture Pitch

OutcomesFinancials and

Lunch Plan

Fall Break

Winter Break

Spring Break

LTV I• Opportunity Recognition and Team

Building• Intro to LTV; not a pre-req• Goals: recognizing opportunities

– Better LTV II application– Assembling a team to apply for LTV II

MBA 848A Website http://www.unc.edu/courses/2009fall/busi/848a/001/

LTV I Topics• Value proposition• Market potential• Return• Team• Competitive advantage• Business model• Return

LTV I Speaker Panels• Former LTV students• RTP Entrepreneurial Community• Entrepreneurial Finance• Entrepreneurial Marketing

+ team building sessions

LTV Phase 2 (Randy Myer)

Feasibility Oct 19 – Dec 7

Business Planning

Jan 11 – Feb 22Financials

March 15 – April 26

Team BuildingAug 18 – Oct 5

Open enrollmentLectures and Panels

Application due Oct. 120-24 Teams

Lectures and Coaches

6-8 TeamsWorkshops and Investor

Relations

12-16 TeamsLectures and Cohorts

OutcomesFeasibility Assessment

& Elevator Pitch

OutcomesTeam and

LTV II Application

OutcomesPreliminary Plan and

Venture Pitch

OutcomesFinancials and

Lunch Plan

Fall Break

Winter Break

Spring Break

TODAY’S DREAM

SHOULD NOT TURN INTO THIS

“Feasibility” Means1. Value Proposition is Compelling2. You Picked the Right First Market

Segment3. Enough Customers Will Buy or Use It at

Your Price4. Your Product/Service is Viable and

Beneficial5. Your Product/Service Is Competitively

Superior6. Your Competition is Minimal or Asleep7. The Market is Large and Growing

Date Topic

10/19 Value Proposition Review

10/26 Segmentation

11/2 Market Research/Concept Testing

11/9 Competitive Analysis

11/16 Industry Analysis

11/23 Revenue/Rollout Plan/Feasibility

11/30 Intellectual Property/Regulatory

12/7 "Elevator Pitch"

Outcome: Feasibility Assessment & Elevator Pitch

LTV IILTV II

Resources●Faculty Advisors/Professors●Outside Coaches – one per two teams

●Industry experience●Entrepreneurial experience●Coaching experience

●Outside Judges (Investors)●Investment experience●Advisory experience

●Customer Research Resources●Industry Research Resources

ApplyingApplying●Applicants

●Open to Faculty, Staff, Students●Teams Accepted

●Team of at least two members (lead must be UNC)

●Must attend class●Made progress on research or launch●Serious about pursuit●High potential opportunity (vs lifestyle)

●Potential Team Members/Recruits●MBA (Masters of Bus Administration) students●MAC (Masters of Accounting) students●Friends and Colleagues

LTV II2006-7 2007-8 2008-9

Applicants 66 39 35Teams Accepted 19 24 20* Student Teams 8 14 14 Faculty/Staff Teams

11 10 6*

Total Students 37 79 58Average Per Team 2.0 3.3 3.2Team Recruits 8 19 16Coaches 9 12 10

LTV Phase 3 & 4 (Ted Zoller)

Feasibility Oct 19 – Dec 7

Business Planning

Jan 11 – Feb 22Financials

March 15 – April 26

Team BuildingAug 18 – Oct 5

Open enrollmentLectures and Panels

Application due Oct. 120-24 Teams

Lectures and Coaches

6-8 TeamsWorkshops and Investor

Relations

12-16 TeamsLectures and Cohorts

OutcomesFeasibility Assessment

& Elevator Pitch

OutcomesTeam and

LTV II Application

OutcomesPreliminary Plan and

Venture Pitch

OutcomesFinancials and

Lunch Plan

Fall Break

Winter Break

Spring Break

What is Business Planning?

• Strategic Plan• Technical Plan• Operations Plan• Marketing Plan• Management Team

Outcome: Business Plan & Venture Pitch

Business Planning Phase

Learning Model Systematically develops

business model and plan to prepare them for launch.

5M’s: Meaning, Model, Market, Management and Money

Leverages an experiential coaching model for expert evaluation of draft business planning deliverables.

Stepwise deliverables with “iterative” retooling, input of instructors, coaches and peers.Course outcomes are

market readied business plans prepared for external capitalization and launch.

Session Lineup

LABSCLINICS

Week 1Meaning and Model:VP & Business Model

Concept and Needs Assessment

Week 2 Market: Marketing PlanBenchmarking, VP and Business Model

Week 3Money: Unit Economics and Venture Buildup

Marketing Plan

Week 4Management: Implementation and Management

Unit Economics

Week 5Pitching and Communicating Your Deal

Implementation and Management

Week 6 Launch Tourney Round Robin and Legal Clinic

Cohort DesignCoaching and Entrepreneurial

Expertise

Life Sciences Sustainability

SocialCommercial

What is LTV IV: Financing?• Financial Plan• Pro Forma Projections• Benchmarks• Milestones• Financing Sources• Investor Approach

Outcome: Launch Plan & Financials

ask

lep

ios

BioPharmaceuticals, Inc.

CelluChip, Inc.

TerraDotta

Questions?

Patrick Vernon: LTV I Teams

Randy Myer: LTV II Feasibility

Ted Zoller: LTV III Business Planning

LTV IV Financing

LTV II Deadline today midnightlaunch@unc.edu

www.unc.edu/cei/launch