CenterState
Venture Framework
Innovation happens here
Ideation
Startup
Emerging
Accelerating
Connecting the dots for entrepreneurs
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An intellectual infrastructure and partnerships with universities,
public and private research labs, and industry collaborators
Strategic programs that provide a structure for transferring
knowledge, coaching and mentoring, and shaping strategy
Physical infrastructure that includes robust incubation and
acceleration facilities where creative intellectual collisions, idea
exchange, and entrepreneurial synergies propel growth
Connections to find talent as a company hits rapid scale-up
Sources of risk capital and other financing to help fast-track
companies manage stages of growth.
Startup Solutions: Innovation in a box
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Tech Garden Innovation
Ecosystem
Grants for Growth
Emerging Business Plan
Competition
The Clean Tech Center
SyracuseCoE Partnership/
CAP/TAD grants
The Student Sandbox
Launch > Connect > Accelerate
Tech Garden Innovation Ecosystem
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B-Venture Startup Series
Jump Start NY / EDA Regional
Innovation Partnership
Pre-Seed Workshops
SBA e200 Partnership
SmartStart/UNYTECH Venture
Forum Partnership
Technical Forums and Expos
Tech Meetup Network
UVANY Partnership
The Tech Garden Process:
Getting Startups “Investment Ready”
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A one-stop team approach
with in-house experts, EIRs
and experienced mentors to
coach early stage and
acceleration companies
through business plan
development, path to market,
technology testing and
validation, funding strategy,
and sources of private/public
capital that match each stage
of development
In-house resources
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NYBDC Anchor Tenant: 127member bank lender / CDC
that is the third largest SBA
lender in the country, with a $1
billion loan portfolio in NYS
Full-time NYBDC Financial
Entrepreneur in Residence on
site to assist companies on
structuring financing
SBDC counseling on-site
SCORE counseling on-site
SBA workshops on-site
The Venture Development Framework
Step One: Ideation
Scoping process:
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What is status of the technology?
What is IP position?
What proof of principle is required?
What resources are needed?
What is best path? (License vs. build and sell, vs. staged
growth?)
Is founder an entrepreneur who is capable of next steps?
Step Two: Incubation
Creation of venture assistance plan:
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Definition of technology and performance specifications
Validation of those capabilities
Understanding of market feasibility
Comprehension of basic payback economics
Business plan development
Sales and marketing strategy
Funding strategy to bridge “The Valley of Death”
Step Three: Demonstration
Technical proof and market potential:
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Prototype development
Demonstration of performance at batch scale / alpha testing
Understanding of manufacturing costs/standards
Costs of goods analysis
Supply chain/customer research
Tangible proof of product performance at small commercial
scale / beta testing
Scale-up strategy
Step Four: Deployment
Market adoption:
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Early adopter program to speed path to market and accelerate
market feedback
Commercial validation
Identification of strategic partners
Development of sales channels
First round hires and personnel plan
Step Five: Acceleration
Implementation of a comprehensive business plan:
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Financial model in place, along with funding strategy to
bridge “The Mountain of Growth”
Core management team in place/outside advisory board
Payback economics demonstrated, with articulated ROI
Investor pitch and collateral materials in place/refined
business plan/ series of pitch rounds to funders
Investment event or other resource transaction that
validates the technology and the market opportunity
Hiring up to match successful commercial sales
And after that?
Looking ahead:
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Exit event (strategic joint venture/sale/public offering)
Or continued staged growth with next stage growth
capital planning
Where entrepreneurs need help
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Identifying the appropriate phase of commercialization
Determining proof required at each phase
Connecting with resource providers required at each
phase
Outlining appropriate milestones and measures of
progress at each phase
Developing a plan to produce the proof and pursue the
path to commercialization
Some honest questions
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What service or product
does your business
provide and what needs
does it fill? Is it truly
compelling?
Who are your potential
customers and why will
they buy this service or
product from you?
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How will you reach your
potential customers?
Where will you get the
financial resources to
start your business?
How much risk are you
willing to take?
How hungry are you?
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Are you an entrepreneur?
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What skills are you good
at?
What are you lacking?
Where can you find help
in those areas?
Is your business concept
practical?
What’s your advantage?
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Is there a real demand for
what you do?
Do you have the stamina
and drive to run a
business?
Are you good at making
decisions?
Are you organized?
Can you move quickly?
Why business plans fail
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Good planning but poor
organization … financials,
inventory, records,
schedules, production,
sales
Insufficient capital
Poor location
Poor inventory control
Management team
disputes
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Over investment in fixed
assets
Inability to manage risk
Weak sales channel
strategy / focus on
marketing instead of
sales
Inability to manage cash
flow through good and
bad times
The good news: There is help
There are excellent regional resource providers
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Academic TTO’s
Early stage business assistance organizations
R&D Partners
Rapid prototyping, contract manufacturing
Strong regional supply chains
Connections for talent
Access to capital
www.centerstateceo.com
www.thetechgarden.com
www.thecleantechcenter.com
www.creativecoreny.com