Launching the Venture
“Top Launch Program in the Country - 2006”
Patrick Vernon: LTV I Teams
Randy Myer: LTV II Feasibility
Ted Zoller: LTV III Business Planning
LTV IV Financing
LTV Description
Team Building
Aug 18 – Oct 5
Feasibility
Oct 19 – Dec 7
Business Planning
Jan 11 – Feb 22
Financials
March 15 – April 26
• Four-part series of courses
• Teach, empower and inspire
entrepreneurial teams at UNC
• Commercial businesses and social
ventures
• Students, faculty, staff or other; at least
one UNC liaison
• Lectures, workshops, panels, speakers
and expert coaching and mentoring
LTV Phases
Team Building
Aug 18 – Oct 5
Open enrollment
Lectures and Panels
Outcomes
Team and
LTV II Application
Application due Oct. 1
20-24 Teams
Lectures and Coaches
Outcomes
Feasibility Assessment
& Elevator Pitch
12-16 Teams
Lectures and Cohorts
Outcomes
Preliminary Plan and
Venture Pitch
6-8 Teams
Workshops and Investor
Relations
Outcomes
Financials and
Lunch Plan
Fall Break
Feasibility
Oct 19 – Dec 7
Winter Break
Business Planning
Jan 11 – Feb 22
Spring Break
Financials
March 15 – April 26
LTV I
• Opportunity Recognition and Team Building
• Intro to LTV; not a pre-req
• Goals: recognizing opportunities
– Better LTV II application
– Assembling a team to apply for LTV II
MBA 848A Website http://www.unc.edu/courses/2009fall/busi/848a/001/
LTV I Topics
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Value proposition
Market potential
Return
Team
Competitive advantage
Business model
Return
LTV I Speaker Panels
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Former LTV students
RTP Entrepreneurial Community
Entrepreneurial Finance
Entrepreneurial Marketing
+ team building sessions
LTV Phase 2 (Randy Myer)
Team Building
Aug 18 – Oct 5
Open enrollment
Lectures and Panels
Outcomes
Team and
LTV II Application
Application due Oct. 1
20-24 Teams
Lectures and Coaches
Outcomes
Feasibility Assessment
& Elevator Pitch
12-16 Teams
Lectures and Cohorts
Outcomes
Preliminary Plan and
Venture Pitch
6-8 Teams
Workshops and Investor
Relations
Outcomes
Financials and
Lunch Plan
Fall Break
Feasibility
Oct 19 – Dec 7
Winter Break
Business Planning
Jan 11 – Feb 22
Spring Break
Financials
March 15 – April 26
TODAY’S DREAM
SHOULD NOT TURN INTO THIS
“Feasibility” Means
1. Value Proposition is Compelling
2. You Picked the Right First Market Segment
3. Enough Customers Will Buy or Use It at Your
4.
5.
6.
7.
Price
Your Product/Service is Viable and Beneficial
Your Product/Service Is Competitively Superior
Your Competition is Minimal or Asleep
The Market is Large and Growing
Date Topic
10/19 Value Proposition Review
LTV II
10/26 Segmentation
11/2
Market Research/Concept Testing
11/9
Competitive Analysis
11/16 Industry Analysis
11/23 Revenue/Rollout Plan/Feasibility
11/30 Intellectual Property/Regulatory
12/7
"Elevator Pitch"
Outcome: Feasibility
Assessment &
Elevator Pitch
Resources
● Faculty Advisors/Professors
● Outside Coaches – one per two teams
● Industry experience
● Entrepreneurial experience
● Coaching experience
● Outside Judges (Investors)
● Investment experience
● Advisory experience
● Customer Research Resources
● Industry Research Resources
● Applicants
● Open to Faculty, Staff, Students
● Teams Accepted
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Applying
Team of at least two members (lead must be UNC)
Must attend class
Made progress on research or launch
Serious about pursuit
High potential opportunity (vs lifestyle)
● Potential Team Members/Recruits
● MBA (Masters of Bus Administration) students
● MAC (Masters of Accounting) students
● Friends and Colleagues
LTV II
Applicants
Teams Accepted
Student Teams
Faculty/Staff Teams
Total Students
Average Per Team
Team Recruits
Coaches
2006-7
66
19
8
11
37
2.0
8
9
2007-8
39
24
14
10
79
3.3
19
12
2008-9
35
20*
14
6*
58
3.2
16
10
LTV Phase 3 & 4 (Ted Zoller)
Team Building
Aug 18 – Oct 5
Open enrollment
Lectures and Panels
Outcomes
Team and
LTV II Application
Application due Oct. 1
20-24 Teams
Lectures and Coaches
Outcomes
Feasibility Assessment
& Elevator Pitch
12-16 Teams
Lectures and Cohorts
Outcomes
Preliminary Plan and
Venture Pitch
6-8 Teams
Workshops and Investor
Relations
Outcomes
Financials and
Lunch Plan
Fall Break
Feasibility
Oct 19 – Dec 7
Winter Break
Business Planning
Jan 11 – Feb 22
Spring Break
Financials
March 15 – April 26
What is Business Planning?
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Strategic Plan
Technical Plan
Operations Plan
Marketing Plan
Management Team
Outcome: Business Plan & Venture Pitch
Business Planning Phase
Learning Model
 Systematically develops business
model and plan to prepare them
for launch.
 5M’s: Meaning, Model, Market,
Management and Money
 Leverages an experiential
coaching model for expert
evaluation of draft business
planning deliverables.
 Stepwise deliverables with
“iterative” retooling, input of
instructors, coaches and peers.
Course outcomes are market
readied business plans
prepared for external
capitalization and launch.
Session Lineup
LABS
CLINICS
Week 1
Meaning and Model:
VP & Business Model
Concept and Needs Assessment
Week 2
Market: Marketing Plan
Benchmarking, VP and Business
Model
Week 3
Money: Unit Economics and
Venture Buildup
Marketing Plan
Week 4
Management: Implementation
and Management
Unit Economics
Week 5
Pitching and Communicating
Your Deal
Implementation and Management
Week 6
Launch Tourney Round Robin and Legal Clinic
Cohort Design
Coaching and Entrepreneurial Expertise
Life Sciences
Commercial
Sustainability
Social
What is LTV IV: Financing?
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Financial Plan
Pro Forma Projections
Benchmarks
Milestones
Financing Sources
Investor Approach
Outcome: Launch Plan & Financials
TerraDotta
asklepios
CelluChip, Inc.
BioPharmaceuticals, Inc.
Questions?
LTV II Deadline today midnight
launch@unc.edu
www.unc.edu/cei/launch
Patrick Vernon: LTV I Teams
Randy Myer: LTV II Feasibility
Ted Zoller: LTV III Business Planning
LTV IV Financing