LION S DEN PROGRAMME. 8 th October #LDLaunch

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1 8 th October 2014 #LDLaunch

2 1. Introduction from Michael Hill-King Director of Partnerships and Consultancy at King s College London 2. Introducing Lion s Den 3. Introduction to Entrepreneurship, Idea and Purpose workshop Viren Lall 4. Cognitracker Last year s winners of Best Idea 5. Networking drinks

3 1. The Challenge and what it looks for 2. Workshops 3. Eligibility 4. Submission 5. Final 6. Prizes 7. Key dates

4 Seeks business ideas Aims to: Foster a culture of entrepreneurship Provide students and early career researchers with practical business skills Give opportunities for the King s community to realise venture opportunities from research and other sources. LION S DEN PROGRAMME

5 Training and support Mentorship Networking opportunities Funding Ultimately, professional development + the chance to grow your own business idea

6 Through your business idea, convince the judges: That you understand your market and competitors, and the position of your idea within them That your idea: Addresses a real need Is disruptive and novel while remaining feasible Can be successful and sustain a competitive advantage (and you have a plan for making this happen) Has the right team behind it Don t need to submit a full business plan

7 1 2 8 th October Introduction to Entrepreneurship, Idea and Purpose 22 nd October Tools of Strategic Analysis for Entrepreneurs 3 5 th November Before Getting to the Business Plan 4 3 rd December Bootstrapping Process in Entrepreneurship Development All workshops will be held in Room G79, Franklin Wilkins Building, Waterloo Campus from 4-7PM

8 th January Business Models and Idea Generation 28 th January Spiralling Innovation and Reaching Out to your Customers 7 4 th February Finance and Business Planning for your Case 8 11 th February Purpose Based Pitching and Connecting All workshops will be held in Room G79, Franklin Wilkins Building, Waterloo Campus from 4-7PM

9 Open to all students, staff and recent alumni from any discipline at King's College London and equivalents across King's Health Partners. All teams must be lead by a current King s member. The information to verify this must be provided when you submit your idea

10 All submissions must be done through our online portal. This will be open from the 5 th December th February 2014 Lion s Den Challenge You will submit your business idea by answering a series of questions on our online application form. These will then be assessed by a online panel of expert judges, with the top entries going through to the Final.

11 Expert panel of judges Pitching slots Q&A Prize money

12 Lion s Den Challenge Best Idea 2 x 5,000 Best Pitch - 1,000 Note: You can only apply for one stream

13 Next workshop 22 October 2014 Submissions open 5 December 2014 Submissions close 12 February 2015 Grand Final 17 March 2015

14 Register for the next workshop on the Facebook page: facebook.com/kcl.ld Follow us on and we will keep you updated on all events and workshops and send you helpful reminders!

15 8 th October 2014 Entrepreneurship Idea and purpose Viren #LDLaunch

16 1. Ideas, opportunities and entrepreneurship 2. What you can expect from the sessions 3. How do we talk about our businesses 4. What are the tools/sessions available

17 Skills 1. Developing a robust business plan 2. Master class on strategy and the tool sets investors use 3. Purpose based pitching 4. What it means to be entrepreneurial 5. Robust understanding of business and business models

18 Your willingness to 1. Immerse and interact in the sessions 2. Build your intellectual, human and social capital 3. Convert your idea to an opportunity that could change how we do things in the future!

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21 Are you developing an opportunity or an idea? Opportunity does not need to be unique but the blend of experience, skills and resources should exploit it in a unique way What distinguishes an opportunity from an idea is its timeliness fit with personal experience and expertise tangible value proposition that creates real customer benefit a way of creating customer value that is generalizable to many customers

22 Is it mine? An opportunity or an idea Resource needs? Good margin potential Opportunity Build a team around it? A scalable and saleable venture Is the timing right?

23 1. The management process that begins with opportunity 2. The relentless pursuit of opportunity without regard to tangible resources currently controlled (simply The pursuit of opportunity beyond resources currently controlled) 3. Paying customers/generate value for beneficiaries/sustainable business 4. Ideas are not the same as opportunities 5. Entrepreneurship is one part of the balanced portfolio of skills

24 What are the main risks? LION S DEN PROGRAMME

25 4 types of risks 1. Demand risk relates to prospective customers willingness to adopt the solution envisioned by the entrepreneur. 2. Technology risk is high when engineering or scientific breakthroughs are required to bring a solution to fruition. 3. Execution risk relates to the entrepreneur s ability to attract employees and partners who can implement the venture s plans. 4. Financing risk relates to whether external capital will be available on reasonable terms. The entrepreneur s task is to manage this uncertainty.

26 Compete in LDC!!! Funding Inject energy, rejuvenate journey Recruit partners Monitor progress Reflect and articulate

27 The simplest business model who, what, how? Basic choices about customers, products, activities WHO WHAT HOW

28 Example who, what, how? Basic choices about customers, products, activities Executives in a hurry WHO Lunch delivered conveniently to desktop WHAT HOW Book orders online/ pick up from restaurant and deliver

29 Feedback who, what, how? Basic choices about customers, products, activities WHO WHAT HOW

30 For whom (target market) What/Problem (offering and need addressed) Reference set / Analogy (help them understand based on what they already know) Unique Advantage (why you will succeed)

31 Feed forward - Luke Johnson s 20 Maxims 1. A desire for autonomy. 2. A sense of optimism. 3. Enterprise is not a zero sum activity entrepreneurs add value and create wealth. 4. Industries and economies move in cycles downturns and recoveries are inevitable and unavoidable and the best entrepreneurs carry on regardless. 5. Find a business partners it makes the journey more fun! 6. Seek domain expertise. 7. A concentrated portfolio brings focus and better engagement. 8. Hire the right managers, motivate those people and allocate capital intelligently. 9. Patient money tends to get the best results good companies develop gradually and need steady nurturing over a long run. 10. Role models entrepreneurship is about culture more than formal education. 11. Be an obsessive workaholic but remember that ambition must be accompanied by diligence and discipline. 12. Execution matters more than theory. 13. Entrepreneurs work hard. 14. Returns come from big winners. In equity investing you can only lose your stake but the upside can be unlimited. 15. Entrepreneurs are restless by nature. 16. Always strive for improvement. 17. Virtually all the finest firms are constructed by teams. The cult of a genius boss is unhealthy and inaccurate. 18. Philanthropy and volunteering broadens the mind and complements entrepreneurship. 19. Lifelong learning is part of the entrepreneurial process. 20. Entrepreneurs create the majority of new private sector jobs and drive innovation.

32 Feed forward - Developing a purpose Why do you do what you do Watch Simon Sinek at _action?language=en

33 Exploring your pitch LION S DEN PROGRAMME Purpose Engaging Preparation Your pitch Pitch Delivery Outcomes Clarity

34 Feed forward Idea generation

35 Instructor Bio Viren Lall Entrepreneur, past present and advisor to to start-ups from KCL, UKTI Sirius, and Indian start-ups. International business transformation expert, an adjunct professor of management, and an accredited entrepreneurial instructor. Visiting professor at the Indian School of Business, (ISB) and Woxsen Business School (India s first entrepreneurship Business school) in India. Entrepreneurship boot camps at KCL and training for Small and medium enterprises at UCL Delivered programmes globally to Accenture, Barclays, British Telecom, Cambridge University, Graphisoft Japan, Kings College London, Indian School of Business, Indian Institute of Technology Alumni, Indian Institute of Management, Moorhouse Consulting, Polestar Investments (US), Regents University London, Yati Capital, and Yieldify. Alum of Kings College London and London Business School Business plan competition judge

36 Being entrepreneurial Chart beating enterprise All workshops will be held in Room G79, Franklin Wilkins Building, Waterloo Campus from 4-7PM

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