The UMass Entrepreneurship Commons

May 19,2014

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Objectives: to strengthen the entrepreneurial culture on the UMass campuses; to increase participation in entrepreneurial activities and endeavors by UMass faculty, researchers and students; to encourage and facilitate more startups.

Strategy: to create and implement a proactive program that connects, supports, supplements and promotes existing and new entrepreneurial programs on the UMass campuses and system-wide.

The Commons Objectives and Strategy

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Context

Entrepreneurship contributes to the UMass mission• commercializing technologies for societal good• fostering economic development in Massachusetts• nurturing the innovation ecosystem• enriching campus culture

Entrepreneurship programs are being woven into the U.S. university fabric• growing demand from faculty and students• active, creative programs at UMass peer institutions• UMass needs to build on existing programs

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Existing UMass Assets

• Many UMass programs exist to support entrepreneurship M2D2, UML/UMW (space, medical device development) MTTC, PO (mentoring / coaching programs) VDC, UMB (space, mentoring, competitions) CVIP Funds, PO (Startup Fund, Proof of Concept Grants,

Investment Fund) Mentors and Ventures Program, UMA (mentoring) ATMC, UMD (space and community programs) External resources (academic and other)

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Need

• But we need to increase coordination and awareness facilitate collaboration and sharing across disciplines and campuses support & encourage broader usage of UMass resources by UMass

community additional coordination to help find, navigate & coordinate programs

& resources provide clear communication to the inside and outside world

• And we need to help campuses fill important gaps education, workshops, bootcamps mentoring, coaching, EIRs, expert networks financial support social entrepreneurship and non-startup focused entrepreneurship

This requires investment in additional resources

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Role of the Commons

• Support existing programs at each campus and system-wide

• Help campuses expand & develop programs (with funding & support)

• Promote coordination and facilitation among campus programs

• Act as a resource for all relevant programs at campuses and PO

• Facilitate navigation to campus programs

• Strengthen UMass entrepreneurial programs to be greater than the sum of their parts

Commons and CVIP provide support and coordination

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Current Navigation (without Commons)

UMA

UML

UMM

UMB

UMD

CVIP/MTTC

ProgramsSupportingEntrepreneurship

Co

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Commons Navigation

UMACVIP and other

resources

UMLCVIP and other

resources

UMWOTM and other

resources

UMBCVIP and other

resources

UMDCVIP and other

resources

CVIP/MTTC

Programs and ResourcesSupportingEntrepreneurship

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The Entrepreneurship Commons Will:

• Serve and support entrepreneurial activities of UMass faculty, researchers and students

• Increase coordination, sharing and awareness of existing programs and resources across campuses and system-wide

• Support and encourage broader usage of UMass resources by the UMass community

• Enhance and develop programs to fill important gaps in the support of entrepreneurship on the campuses

• Increase internal and external awareness of entrepreneurship throughout UMass

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The Commons as a Coordinator

Ca

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UMass Student

UMass PI

I’ve invented something – maybe I can do a startup

I have an idea for a startup company

So you want to start a company

So you’ve invented something

Programs and ResourcesSupporting Entrepreneurship

• IP Management*

• CVIP Technology Development Fund*

• CVIP Startup Fund*

• UMass investment fund*

• MTTC Coaching and Platform

• UMA Innovation Challenge

• M2D2

• Assistance with identification of management

• Participation in conferences for early stage companies

• Identification of external funding sources

• Link to other external programs and resources

• Access to UMass managed incubator

* Available only to researchers/faculty

Coordination, Program Assistance through Commons

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Example: Support of Startup Creation

DiscoveryProof of

Concept & Relevance

Prepare to Commerciali

ze via Startup

Launch Startup

• “So you’ve invented something”

• Attend educational seminars

• Check for resources/procedures on campus and Commons website

• Invention disclosure to campus CVIP

• CVIP assessment, IP protection by campus

Entrepreneurship Commons: Support and Coordination at Each Stage

• PI and CVIP determine if startup

• CVIP Tech Dev Fund

• MTTC Coaching & Platform

• M2D2

• UMA Innovation Challenge

• “So you want to start a company” (stages 1, 2, 3)

• Biz Plan/UMass Startup Initiative ($5K)

• Management team formation

• MTTC Coaching and Platform

• UMA Mentors and Ventures Program

• Option/License

• Conference participation

• UMass Investment Fund

• Connect to external resources/funding

• Incubator space

• Biz plan competitions

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Getting the Commons Up and Running

• Gateway to resources on all campuses

• Function as a true commons – with participation of all campuses

• Initial priorities have been developed by the Commons Working Group Strengthen and expand mentor programs Enhance startup services and create EIR Expand campus and system-wide business plan competitions Broaden campus entrepreneurship education offerings

• The Commons’ proposed structure and needs have been outlined (details on following slides) Commons Working Group & External Advisory Group Full Time Coordinator Launch in July 2014

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Proposed Commons Activities and Resources

Mentors / MVPEIR (Startup Catalysts)

Biz Plan Competitions (open to faculty & students)

Entrepreneurial Training

PROGRAM DETAILS • Help develop & build internal for each campus

• Coordinate with outside groups

• Create networking events (real and virtual)

• Pool of 5 with geographic and industry diversity

• $1,000/mo. stipend for each

• Planning grants ($15k) - for new & existing campus competitions

• Create a system-wide competition

• Expand campus workshops and seminars

• Expand platform program

COMMONS ACTIVITIES

• Recruitment• Coordination• Training• Event planning

• Recruitment• Training• Coordination

• Planning• Coordination

• Design assistance

• Support• Coordination

DIRECT CAMPUS PROGRAM SUPPORT

$150K $100K $100K $75K

COMMONS COSTS $50K $50K $30K $20K

Total Program funding $575K

Website, Events and overall management

$75K

TOTAL BUDGET $650K

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The Commons Working Group

Last First Campus TitleBanks Doug UMPO Associate VP, ED

Barrow Abi MTTC Director, MTTC

Basnet Amit UMD/ATMC Liaison Associate

Brah* Bill UMB Director, Venture Development Center

Capistran Jim UMA Executive Director, UMass Innovation Institute

Daudelin Susan UMB Director, Industry Relations

Gamache Bob UMPO Associate VP, Academic Affairs

Hafer Nate UMMS Director of Operations

Klempner Mark UMMS Director, Massachusetts Biologics Laboratories

MacWright* Bob UMA Director, CVIP

Malone Michael UMA Vice Chancellor for Research

McCarthy Steven UML Co-Director, M2D2

McNamara James UMMS Director, Office of Technology Management

Michel Marla UMA Director, Community Engagement

Murthi Jill UML Director, CVIP

Reinhart Fred UMA Sr. Advisor for Technology Transfer

Rosenberg Bill UMPO Executive Director, CVIP

Saucier Nancy UML Director, New Venture Development

Stapleton* Tobias UMD/CCB Assistant Dean, Charlton College of Business

Sugumaran* Manickam UMB Professor of Biology

Tello* Steve UML Assoc. Vice Chancellor, Entrepreneurship & ED; Co-Director, M2D2

Vigeant Paul UMD Assistant Chancellor for ED

Willson Jack UML President Emeritus, Distinguished Professor

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The Commons External Advisory Board

• Entrepreneurs

• Startup Investors

• Commercialization / Business Development

• Service Providers

• Corporate Executives

• UMass Alumni

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Measures of Success

• Activity on the Commons portal

• New and expanded campus programs and system-wide

• Increased participation in entrepreneurial programs on all campuses

• Greater alumni/mentor involvement on all campuses

• More startups

• “Buzz” about entrepreneurship at UMass

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Proposed Agenda for Entrepreneurship Retreat

• Overview of current capabilities and best practices Each campus and President’s Office will review existing

programs Discussion of current service gaps

• Suggested Keynote and plenary topics Massachusetts Secretary of Economic Development Fred Reinhart, President Elect of AUTM External KOL speaker on entrepreneurship/other programs Presentation on the Entrepreneurship Commons

• Roundtable breakout discussions and strategy sessions

• Summary and conclusions – recommendations on next steps and priorities

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Thank you

Bill Rosenberg, Abi Barrow, Daniel Behr*UMass President's Office

*Consultant to PO