Entrepreneur Boot Camp Overview

August 2009

Start-up Services

SPARK’s Business Accelerator is designed to shorten the time required to reach commercialization, attract capital, and secure customers

Additional Resources:

• Michigan Pre-Seed Capital Fund ($15 million) was established to provide access to capital for high-tech start-up companies and to position them for external investment

• Micro Loan programs ($1,500,000) for innovative companies

• Regional Incubator Network offers an opportunity to capitalize on the Ann Arbor region’s life science, IT/software, alternative energy, advanced automotive and materials sectors

• Talent Services

• Entrepreneur Education

Boot Camp Goals

• Graduates of the Entrepreneur Boot Camp will develop a concise executive summary which can be easily articulated in a brief “elevator pitch”

• Campers will have a “go / no go” plan and be in a better position to garner funding through equity and/or grant requests

• Gaps in staffing, funding, business development and product will be identified

• Additional SmartZone and partner resources will be identified and a plan will be put in place for implementation

Boot Camp ROI

Boot Camp graduates have: • Won GLEQ Business Plan competitions

• Half of ACE Elevator Pitch competitors were Boot Camp graduates and won

• Received funding from the MI Pre-Seed Capital Fund

• Found advisory board members

• Identified angel investors

• Made life long business connections

Boot Camp ROI

Boot Camp graduates:

• 181 companies

• 662 FTE

• >$19mm in grants

• >$20mm in private equity

• 53 received BA services

Entrepreneurial Success Story Compendia Biosciences• Formed in 2005• Technologies developed by the University of Michigan• Bioinformatics-molecular oncology tools, data, and analysis software • Founder, Dan Rhodes, and co-founder Arul Chinnaiyan, MD• Attended Entrepreneur Boot Camp 2005 • SPARK provided $49,000 consulting services; business development,

marketing• Helped recruit CEO and technology manager• First year sales (2006 revenue ~$X million) • Received 21CJF award for $1,238,212, raised $600,000 in new equity

including $250,000 from the MI Pre-Seed Capital Fund, won $2.4 million SBIR grant

• Current employment - 14 • Office located at 210 S. Fifth Avenue, downtown Ann Arbor (SmartZone)• Won 2007 “Innovation Company of Year” award from Business Review

• Ann Arbor-Ypsilanti, LDFA

• GLEQ

• Michigan SmartZones• New Enterprise Forum• SBTDC• U-M College of Engineering• U-M Medical Innovation Center• U-M Office of Technology Transfer• U-M Ross School of Business• U-M, WCC, EMU, WSU, MSU• U-M Zell Lurie Institute

Boot Camp Pipeline/Partners

What businesses are we looking for?

 Boot Camp Candidates:

• Coachable entrepreneurs • 2-person team • Within 15 months of commercialization -- with one of the following

achieved:o Sales revenueo Private equity investmento Partner with a going concern o SBIR grant

• Capable of $10 million sales revenue in 5 years • Innovation-based

Boot Camp 2009

The “Original” Entrepreneur Boot Camp

Kick-off luncheon -- October 21 SPARK Central

Mentor luncheon -- October 28 SPARK Central

Boot Camp -- November 5 & 6 MITC

Celebration/Pitch -- November 18 SPARK Central

How can you help?

Tonight:

Give us feedback and suggestions for improving Boot Camp

Ongoing:

Identify and refer companies to Boot Camp

Refer participants to Entrepreneur Education 1.0

http://www.annarborusa.org/start-ups/boot-camp/(with a direct link from annarborusa.org)

Questions:

Amy@AnnArborUSA.org

www.AnnArborUSA.org