Patrick
Vernon
1
2
Goal
To increase the number of
successful UNC startups.
3
Odorless Portable Toilets
Luxury Footwear from Africa
Wireless Nurse Call
Find Garden Experts
Top 11: $58.4MM and 131
Company
Spectraforce
Worksmart
Oriel
Therapeutics
LoneRider
Entegrion
InnerOptic
ClassWatch
Asklepios
BioPharma
Custom Choice
Cereal
Windsor Circle
Bella Monica
Jobs in 2012
2000
Location
Raleigh
Revenue
$50MM
2001
Durham
$3.7MM
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IT services
2010
Durham
$1.6MM
11
Pharma: drug delivery
2007
Raleigh
$1MM
10
Brewery
2002
Durham
$560K
6
Pharma: blood
2002
Hillsborough
$500K
4
Image-guided surgical inst.
2008
Washington
$220K
3
Class watches
2001
Chapel Hill
$290K
5
Pharma: bio nano particles
2010
Durham
$210K
3
Gluten free customized
cereal
2011
Durham
$150K
3
B2B software as service
2004
Raleigh
$140K
1
Food, flatbreads
Founded
# Empl. Description
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IT/staff Outsourcing
AGENDA
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Who are you?
Overview of Launch classes
Application process
Teams
Next steps
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Who are You?
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Who are You?
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AGENDA
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Who are you?
Overview of LAUNCH classes
Application process
Teams
Next steps
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Phases
Outcomes
Skills and Team Building
Early Fall, “Mod I”
Fall
Break
Feasibility
Late Fall, “Mod II”
Winter
Break
Planning
Early Spring, “Mod III”
Spring
Break
Financing
Late Spring, “Mod IV”
Individuals
Non-Credit Workshops
and Networking
Teams
16-20 Teams
Short Lectures,
Weekly Challenges
Elevator
Pitch
12-16 Teams
Lectures and
Cohort Coaching
Business
Plan
6-10 Teams
Lectures and
Coaches
Launch
Plan
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Phase 1 Workshops
• VC 101 | 8/26
• Startup 101 | 9/23
– What is venture capital?
– What do VCs do?
– How does one attract VCs?
– Basic concepts in
entrepreneurship
– Business plans and
venture pitches
• MBA 101 | 9/9
– Last networking session
– Primer on business jargon
before application
– Basic strategies and lessons
deadline
from core MBA courses
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Phase 1 Key Dates
• 8/21 – Kickoff + Network
• 8/26 – VC 101 + Network
• 8/28 – Idea Roundtable
• 9/4 – Idea Roundtable
• 9/9 – MBA 101 + Network
• 9/18 – Idea Roundtable
• 10/6 – Application
• 10/8-10 – Interviews
• 10/11 – Admit
Notification
• 10/21 – Class Starts
• 9/23 – Startup 101 + Network
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Phase 2: Launch Feasibility
• 1.5 credit hours (active PID required)
• Sections:
– 001: M/W 3:30, MBAs mostly
– 002: M 5:00-8:00, cross campus
• Weekly team update presentations
• Weekly challenges
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Feasibility Textbooks
Business Model Generation
Alexander Osterwalder and
Yves Pigneur, Wiley, 2010
The Four Steps to the Epiphany
Steve Blank
K&S Ranch, 2013
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Four Steps to the Epiphany
“Lean LaunchPad”
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Business Model Canvas
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Feasibility Philosophy...
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Experiential
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Interactive
In∙ter∙ac∙tive
People influencing or having
an effect on each other
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Strategic and Tactical
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Scrappy
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LAUNCH is NOT:
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Not… an “intro to entrepreneurship” class
Not… a business plan writing class
Not… just an academic exercise
Not… the same workload as regular class
Not… big enough to admit everyone
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Weekly Challenges
Week 1: Video Face-Off
Week 2: Startup Forensics Contest
Week 3: Pre-Seed Funding Pitch
Week 4: Storytelling Slam
Week 5: Advisory Board Rodeo
Week 6: Survey Challenge
Week 7: MVP Smackdown
Customer
and
Expert
Interviews
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Weekly Challenges
+
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After Winter Break
• Mod III: Business Planning
• Mod IV: Financing
• Some teams might skip Feasibility
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AGENDA
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•
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Who are you?
Overview of Launch classes
Application process
Teams
Next steps
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What Are We Looking For
IDEA
• Innovative
• Big problems
• Achievable milestones
TEAM
• Cross disciplinary
• Expertise
• Exceptional drive
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What Doesn’t Fit Well
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Lack of innovation
Income replacement
“Lifestyle” venture
Restaurant, bar or traditional retail
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Application due 10/6
www.launch.unc.edu/apply
Must have team of 3 or more...
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AGENDA
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•
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•
Who are you?
Overview of Launch classes
Application process
Teams
Next steps
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Teams
www.launch.web.unc.edu
Core needs for Feasibility Phase
• Communications
• Research
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AGENDA
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Who are you?
Overview of Launch classes
Application process
Teams
Next steps
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Connections Website
www.launch.web.unc.edu
• I challenge you: email 5 people before the
next networking session
• Plan to meet at that session
• For teammates: don’t commit too early,
but don’t wait too late
• Have a backup plan
• Come to an idea roundtable to knock
around ideas
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Idea Roundtables
• 5 people + me
• Caribou Coffee Estes/Franklin
• Sign up at: www.launch.unc.edu or
http://goo.gl/IS1J1L
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Workshops
• VC 101 | 8/26
• Startup 101 | 9/23
– What is venture capital?
– What do VCs do?
– How does one attract VCs?
– Basic concepts in
entrepreneurship
– Business plans and
venture pitches
• MBA 101 | 9/9
– Last networking session
– Primer on business jargon
before application
– Basic strategies and lessons
deadline
from core MBA courses
36
Key Dates
• 8/21 – Kickoff + Network
• 8/26 – VC 101 + Network
• 8/28 – Idea Roundtable
• 9/4 – Idea Roundtable
• 9/9 – MBA 101 + Network
• 9/18 – Idea Roundtable
• 10/6 – Application
• 10/8-10 – Interviews
• 10/11 – Admit
Notification
• 10/21 – Class Starts
• 9/23 – Startup 101 + Network
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The two most important requirements for major success are:
- first, being in the right place at the right time, and
- second, doing something about it.
-Ray Kroc
Free
Agent
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Idea
Person
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QUESTIONS?
PATRICK VERNON
Clinical Assistant Professor of Entrepreneurship
Executive Director, Center for Entrepreneurial Studies
UNC Kenan-Flagler Business School
Scrappy ↓
pvernon@unc.edu | launch@unc.edu | www.launch.unc.edu
YouTube
Tagxedo
WordPress
Qualtrics
Google Doc
Fiverr
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