Slide 1
Class 6 – Class Project
PolyTronics
and
Project Overview
70-397 Venture Finance
Fall 2002
© Andrew W. Hannah
Slide 2
Agenda
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Homework due tonight
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PolyTronics Pitch
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Teams assigned
WA pp 245 - 285
Richard Pilston, CTO
Eric Boughner, VP Product Marketing
Project Overview
70-397 Venture Finance
Fall 2002
© Andrew W. Hannah
Slide 3
The PolyTronics Pitch
Richard Pilston, CTO
Eric Boughner, VP – Product Marketing
70-397 Venture Finance
Fall 2002
© Andrew W. Hannah
Slide 4
Class Project Overview
Tasks, Objectives, and Rules
70-397 Venture Finance
Fall 2002
© Andrew W. Hannah
Slide 5
Project – Opening Tasks
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Sign the Confidentiality Agreement
Choose your project teams
Read the PolyTronics Business Plan
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To be distributed tomorrow over email to those on official
class list
Do not forward to others not covered under confidentiality
agreement
Use the material in Winning Angels
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70-397 Venture Finance
This is an excellent guide for your project
Fall 2002
© Andrew W. Hannah
Slide 6
What You Will Do…
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Distill a business plan using a framework to expose
the most interesting or critical deal points
Develop a diligence plan and prepare cogent
analysis of critical market, competitive, value issues
Prepare and present an investment recommendation
founded on your overview of the company and the
results of your diligence work
70-397 Venture Finance
Fall 2002
© William Hulley
Slide 7
Project Components
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Frameworks– what matters? what can we do given
the materials at hand and timeframe?
Teams– four teams of five, one team of four
Diligence A, B, C – markets, comparables,
competition
Draft presentation and recommendation – first look
at diligence and overviews
Final recommendation – the distillation of diligence
and the company in context
Final presentation – your recommendation
70-397 Venture Finance
Fall 2002
© William Hulley
Slide 8
Grading
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Draft presentation and recommendation (10%)
Final presentation (25%)
Final recommendation (25%)
Key points
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Understanding of frameworks, diligence, valuation
Production of relevant diligence
Concise summary of company, context, diligence
Clear, concise, accurate presentation
Company contact rule
70-397 Venture Finance
Fall 2002
© William Hulley
Slide 9
The Framework
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Context
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People
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Management, employees, shareholders, vendors
Opportunity
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Industry, regulation, technology, competitors
Market, model, customer, timing
Deal
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70-397 Venture Finance
Price, structure
Fall 2002
© William Hulley