1. • Working
Capital
• Cash
Flow
Management
• Features
&
Performance
• Design
&
Development
• Marke<ng
Strategy
&
Plan
• Media
and
Public
Rela<ons
• Sales
Strategy
&
Plan
• Customer
Rel.
&
Tech
Support
• Manufacturing
&
Produc<on
• Management
&
Administra<on
• Facili<es
&
Equipment
• Real
Estate
• Performance
Evalua<on
• Con<nuous
Improvement
1. No.
of
Student
Startups
Created
2. No.
of
Faculty
Startups
Created
3. No.
of
transac<ons
and
total
amount
of
capital
raised
1. No.
and
total
amount
of
E*Ship
related
Endowed
Fund
GiNs
2. No.
and
total
amount
of
Expendable
Fund
GiNs
OPPORTUNITY!
Viability
Benefits
To
Others
Benefits
To
Self
Verify
Feasibility
of
Building
a
Business
Around
the
InvenBon
GROWTH!
OperaBons
EffecBveness
Efficiency
Grow
the
Business
and
OpBmize
Performance
1. Product
or
Process
Idea
2. Market
3. Customers
4. CompeBtors
5. MarkeBng
&
Sales
6. Revenue
Model
7. Funding
1. Key
People
2. Intellectual
Capital
3. Bootstrapping
4. Customer
Financing
5. Equity
Capital
6. Debt
Capital
7. Other
Funding
Sources
• What
is
it
(Proof-­‐of-­‐Concept)?
• What
makes
it
unique
(IP)?
• Define
the
specific
Market?
• How
big
is
it
(units
+
dollars)?
• Who
will
buy
it?
Why?
• How
do
they
buy?
• What/who
are
the
compe<tors?
• How
do
they
stack
up?
• Why
is
it
aXrac<ve
to
buyers
• How
will
you
reach
them?
• How
will
you
make
money?
• How
long
will
it
take?
• How
much
money
is
needed?
• What
type
of
money
is
it?
• Startup
Team
• Boards
and
Advisors
• Compe<<ve
Advantage
• Trade/Process
Secrets
• Personal
Savings
&
Credit
• Family
&
Friends
• Crowdfunding
• Progress
Payments
• Angel
Investors
• Venture
Capital
• Bank
Loans
• Receivables
Factoring
• Grants
and
GiNs
• EDA
Incen<ve
Programs
1. Business
Planning
2. Human
Resources
3. Intellectual
Property
4. Prototyping
5. Business
OrganizaBon
6. Risk
MiBgaBon
7. Key
Support
Systems
• Refined
Business
Model
• Investor-­‐Friendly
B-­‐Plan
&
Pitch
• Management
&
Administra<ve
• Technical,
Sales
&
Opera<ons
• IP
Strategy
• IP
Protec<on
• Products
• Services
• Legal
Structure
• HR-­‐Management
Team
• Financial
(Insurance)
• Regulatory
&
Public
Policy
• Accoun<ng
&
Cash
Control
• Informa<on
Technology
1. Finance
&
AccounBng
2. Product/Service
Development
3. MarkeBng
4. Sales
&
Customer
Service
5. OperaBons
6. Capital
Assets
7. Strategy
&
OpBmizaBon
IMPACT!
Outcome
Social
Progress
Economic
Growth
Celebrate
Impact
on
Personal,
Local
and
Global
Ecosystem
1. Customer
Impact
2. Owner
Impact
3. Employee
Impact
4. Supplier
Impact
5. InsBtuBonal
Impact
6. “Communiversity”
Impact
7. Global
Impact
• A
Problem
Solved
Well
• Lifestyle/Process
Improved
• Success
–
Wealth
Management
• Fulfillment
–
Happiness
• Job
Sa<sfac<on/Income
• Personal/Career
Growth
• Consistent
Business
• Fair
Payment
Terms
• Increased
Prominence/Pres<ge
• Increased
Budget
Support
• Corporate
Stewardship
• BeXer
Alumni/ae
Engagement
• Global
Challenges
Addressed
• Sustainable
Growth
Promoted
The innovator’s Commercialization & New Venture Framework V2.4
An
Ecosystem-­‐Based
Process
Model
for
Crea<ng
and
Sustaining
World-­‐Class
Business
Ventures
at
Rensselaer
Polytechnic
Ins<tute
FOUNDATION!
Resources
Qualified
People
Sufficient
Capital
IdenBfy
Key
People
and
Financial
Resources
Needed
© Copyright 2015. James E. Spencer, Jr. All Rights Reserved.
Actionstepsand
PerformanceAttributes
SUCCESS
Indicators
Mentors,
Marke<ng,
Sales,
Quality,
Manufacturing,
Customer
Service
Prototyping,
Legal,
HR,
Accoun<ng,
Insurance
&
IT
Personal
Network
and
Financial
Professionals
RPI
&
Venture
Stakeholders,
Wealth
Management,
&
Outreach
Coaches,
Mentors
Entrepreneurs
in
Residence
&
Professional
Advisors
Sales
–
Grants
–
Angel
Investors
–
Venture
Capital
–
Lenders
Personal
Savings
&
Credit
–
Family
–
Friends
–
Grants
–
CrowdFunding
–
Pre-­‐Sale
Deposits
ASSESS
PREPARE
LAUNCH
MANAGE
PROSPER
INVENTION!
Discovery
Unique
IP
IdenBfiable
UBlity
Solve
a
Meaningful
Problem
by
InvenBng
a
Valuable
SoluBon
Students
&
Faculty
Researchers
and
Entrepreneurs
CREATE
Create
and
Sustain
a
Culture
of
Discovery
&
InnovaBon
Staff,
Faculty
&
Student
E*Ship
&
Innova<on
Champions
CULTIVATE
Annual
Fund,
Sponsorships,
Grants,
Contracts,
Research
Agreements
Conquering
Evil
LOSSES!
Failed/Poor
ExecuBon
Delays
Setbacks
DELUSION!
Not
Viable
as
a
Business
Useless
to
Self
Useless
to
Others
Idea
has
no
PracBcal
Value
or
Reasonable
Path
to
Market
Minimal
Market
Impact
and
Diminished
Business
Viability
REPUTATION!
NegaBve
Outcome
Fraud/
Shame
Waste/
Bankruptcy
Unfulfilling
Achievements
and
QuesBonable
Results
ROADBLOCK!
Limited
or
No
Resources
Insufficient
Capital
Poor
QualificaBons
Inability
to
Develop
Idea
into
a
Viable
Business
EnBty
Limited
Funding
OpportuniBes
&
Minimal
Growth
PotenBal
FAILURE!
Lack
of
OrganizaBon
Chaos
Confusion
WarningSigns
Conquering
Evil
DEAD-­‐END!
Shallow
Ideas
No
PracBcal
ApplicaBon
Obvious
Prior
Art
InvenBon
Does
Not
Represent
A
Compelling
Value
ProposiBon
Conquering
Evil
APATHY!
No
IncenBve
to
Innovate
Fear
of
Disclosure
No
Market
Awareness
Discovery
and
Development
Does
Not
SBmulate
InnovaBon
START-­‐UP!
OrganizaBon
Finalize
Planning
and
Launch
the
Business
Appropriate
Structure
EffecBve
Processes
Inven<on
&
Design
Courses,
Labs
and
Projects
Rensselaer
Emerging
Ventures
Ecosystem
Accelerator
Laboratory
(REVEAL)
Severino
Center
for
Technological
Entrepreneurship
Campus
Innova<on
&
E*Ship
Courses
&
Ac<vi<es
Emerging
Ventures
Ecosystem
(EVE)
Rensselaer
Technology
Park
IP
Policy
Familiariza<on
Research
Agreements
&
Disclosures
Student
Disclosures
&
IP
Waivers
Rensselaer
Owned-­‐IP
Protec<on
Opportunity
IP
Screening
Rensselaer-­‐Owned
IP
Licensing
IP
Licensing
Poriolio
&
Income
Useful
Non-­‐
Obvious
Valuable
Novelty
Self-­‐Interest
Service
Relevance
Capacity
Capability
Readiness
Workgroups
Workflow
Business
System
Business
Produc<vity
Alignment
Selec<vity
Improved
Quality
of
Life
Financial
Strength
Produc<ve
Rela<onships
Diminished
Quality
of
Life
Insolvency
Disgrace
Ignorance
Discouragement
Status
Quo
Imprac<cal
Mundane
Hobby/
Experiment
No
Personal
Benefit
No
Commercial
Value
Irrelevant
Weak
Value
Proposi<on
Weak
Management
Team
Ques<onable
Opportunity
Undefined,
Unmanaged
Roles
Undefined,
Unmanaged
Priori<es
Low
Morale,
Frustra<on
Poor
Planning
and
Execu<on
Undefined,
Poor
Strategy
Poor
Produc<vity
1. Industrial
Product
2. Industrial
Process
3. Socware/Internet
4. Consumer
Product
5. Consumer
Service
6. Business
to
Business
Service
7. Biotech/Medical
• Hardware
• Industrial
SoNware
• Algorithm/SoNware
• Process
Control
• SoNware
Applica<on
• SoNware
as
a
Service/Plaiorm
• Consumable
• Device/System
• Professional
• Retail/Lifestyle
• Professional
• Corporate
• Pharmacological/Treatments
• Medical
Devices
www.RPiHUB.org
Version: 010115 Rensselaer Polytechnic Institute
METRICS
1. No.
of
student
E*Ship
programs
2. No.
student
program
par<cipants
3. No.
courses
w/E*Ship
modules
4. Total
$$
for
E*Ship
&
New
Ventures
1. No.
of
students
in
PDI
program
and
Inventor
studio
classes.
2. No.
of
student
patent
disclosures
3. No.
of
faculty
patent
disclosures
1. No.
of
student
projects
with
commercializa<on
poten<al
2. No.
of
student
Foundry
Par<cipants
3. No.
of
student
prototype
grants
given
1. No.
of
ac<ve,
registered
Mentors.
2. No.
&
type
of
REVEAL
Cohort
members
3. No.
of
RPI
IP
Licenses
to
Startups
4. No.
and
total
value
of
prototype
grants
1. No.
of
ac<ve,
Clients
&
Mentors.
2. No.
of
ac<ve
Advisory
Boards
3. Annual
Client
Sales
Revenues
4. Es<mated
Client
Poriolio
Valua<on
Intellectual
Property
InsBtute
Programs
Resources
Funding
Sources
1. InsBtuBonal
Commitment
2. Core
Competencies/Disciplines
3. Top
Talent
4. InnovaBon
Infrastructure
5. Interdisciplinary
CollaboraBons
6. Intellectual
Property
Policy
7. Student
&
Faculty
Networking
• Strategic
• Financial
• Research
Priori<es
• Educa<onal
Priori<es
• Mo<vated
&
Suppor<ve
Faculty
• “Entrepreneurial”
Students
• Accessible
Facili<es
&
Equipment
• Commercializa<on
Programs
• Research
Centers
&
Plaiorms
• Special
Projects
&
Programs
• Perceived
as
Fair
and
Balanced
• Protects
&
Rewards
Stakeholders
• Conferences
&
Symposia
• Compe<<ons
&
Challenges
INSPIRATION!
MoBvaBon
Challenging
OpportuniBes
SupporBve
Environment
Ambi<on
Encouragement
Innova<on
Culture
1 2 3 4 5 6 7
1 2 3 4 5 6 7