accelerate invest strategize launch grow

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1 inspire strategize accelerate invest launch grow 2014

2 VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a subsidiary of the Virginia Tech Corporate Research Center, supported by the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual. Its world headquarters is in Blacksburg, Virginia, USA. VT KnowledgeWorks customizes a package of services specific to your situation and corporate needs. Our services fall into three categories. PLAN program components help market-worthy ventures organize, formulate strategy, and prepare for outside investment. LAUNCH components help get the business up and running. GROW offerings emphasize strategic support for ongoing growth, continuing intra-preneurship, and professional development for the corporate leader. GET STARTED Startup Chatup: discuss your business idea at CoffeeWorks in the Virginia Tech Corporate Research Center or on Virginia Tech s campus during scheduled office hours. Business Concept Review: submit the skeleton of your startup idea online and one of our VT KnowledgeWorks mentors will review it, offer their first impressions, and suggest ways to reduce your risk. VT KnowledgeWorks Membership: after your Business Concept Review, become a VT KnowledgeWorks member and register for any of our services. 1

3 Services that help with the PLAN CONCEIVE VT KnowledgeWorks Membership Not Required Startup Readiness Workshop: tests the strategic essence of the business concept, tightens up managerial focus, and addresses the unique challenges of entrepreneurship, including Accounting De-Mystified. Competitions: Virginia Tech Student Business Concept Challenge grand prize winner receives $10,000 in scholarships and qualifies for the VT KnowledgeWorks Global Student Challenge and a chance to win a $25,000 prize. Global Student Challenge $25,000 prize and VT KnowledgeWorks Global Challenge trophy is awarded to the winning team, as elite university student teams from all over the world pitch their business concepts before a panel of business leaders and regional audience. Tech Transfer Challenge up to $100,000 worth of mentorship and business support services is awarded to a winning team of Virginia Tech faculty, staff, students and/or alumni proposing to establish a new venture in Blacksburg, based on Virginia Tech-owned technology. Game Changers Challenge $25,000 Running Start loan plus a package of free startup assistance services. Private Hourly Consultation: as-needed meetings with the executive director, in one-hour blocks. Market Opportunity Study: quantifies addressable market and reviews the competitive environment for a particular target segment. Competitive Review: provides an understanding of the competitive landscape and expected direct competitors to the proposed business concept. Technical Feasibility Consultation: determines whether there is a compelling customer need for the proposed product that is not currently being met by others or that others would have difficulty providing, as well as an assessment of the price customers would be willing to pay for the product. Initial Intellectual Property Review: reviews the patent and/or copyright landscape associated with and complementary to the proposed product to assess its expected IP position in the marketplace. 2

4 COMMIT Become a VT KnowledgeWorks Member Pre-Launch Orientation Bundle: up to 8 meetings over 90 days with a seasoned professional mentor plus optional meetings with any or all of the following professionals: options for intellectual property protection commercial insurance offerings overview human resources issues and answers financial and administrative checklist preliminary legal discussion banking services primer public relations tips consultation on the realities of web presence Launch your business with confidence after completing the VT KnowledgeWorks Pre-Launch Orientation Bundle. Business Model Preparation Assistance: reviews business model options for the proposed venture and assists the company in selecting an appropriate model. Investor Presentation Assistance: assists the venture management team in the preparation of the documents needed to approach and review their business concept with potential investors. Running Start Loan Application Assistance: white-paper style application process available to selected early-stage ventures to receive market rate loans with deferred payback terms (with corporate assets only used as collateral). VT KnowledgeWorks Website Presence: member profile with click-thru to member website. Public Relations: distribution of press releases to regional media. Legal Entity Issues Discussion: meet with an attorney to review entity selection, IP considerations, founders equity, and fundraising toolkit. 3

5 When you are ready to LAUNCH RECRUIT Design Your Team Personnel Needs Definition: identify the core competencies required for business success. Build Your Team Search Assistance: explore how your team should be structured for launch, and how it should grow as the business expands. Learn where to find the right people and how to attract them. Design Team Compensation Packages: review the range of salary, performance award, and equity compensation options, and assist the management team in selecting the mix appropriate for their company. FINANCE Presentation and Business Model Review: critically reviews the documents prepared by the management team, including the business model and financial projections, and assists in introducing the team to potential investors. LOCATE Virtual Residency: real street address for virtual companies highly flexible phone system access to conference room facilities VT KnowledgeWorks Website Presence including member profile with click-thru to member website 4

6 JumpStart Community: a place for structured project collaboration among individuals lockable workstations or lockers wi-fi access to conference rooms on a reservation basis collaboration tables and white boards coffee maker and water cooler an official street address for your business copy and fax machines other benefits, perks, and services of the VTCRC VT KnowledgeWorks Global Landing Pad: the Global Landing Pad provides a low-cost, high-quality workspace experience for businesses desiring to set up an office in the USA. Until now, having a presence to conduct business in the USA has required a commitment of money, time and effort that challenges most small- to medium-sized companies. That has changed with the launch of the Global Landing Pad in the Virginia Tech Corporate Research Center, Blacksburg, Virginia, USA. Private Suites: the VTCRC offers custom space and flexible leasing agreements to tailor office environments to suit any corporate culture. The benefits of leasing space at the VTCRC far exceed those of any other commercial site in the area. Incubation Service Credits for Early-Stage Tenants: VT KnowledgeWorks provides a variety of programs and services aimed at improving growth prospects for companies of all sizes and ages. To encourage risk reduction and opportunity enhancement for its tenant companies, the CRC subsidizes their use of VT KnowledgeWorks program services for up to 10% of the annual rent during the first three years of tenancy. Conference Facilities: conference room space is available on a reservation basis for all tenants, including Virtual Residents and JumpStart Community members. 5

7 Services to help you GROW EXECUTE Strategic Monitoring: 12 monthly meetings with a seasoned professional mentor, to provide consistent critical review and recommendations regarding progress toward strategic milestones. Personal Mentorship: 12 monthly meetings with a seasoned professional mentor. Peer Mentorship Councils: permanent, moderated groups of presidents, CEOs, general managers, and business owners who meet monthly throughout the year to share leadership experiences and wisdom in an atmosphere of confidentiality, trust, and openness. Operating companies and seasoned business leaders share vision, experience, and insight. Private Hourly Consultation: as-needed meetings with the executive director, in one-hour blocks. ADJUST Fresh Look Corporate Revisioning: assists the management team in envisioning future opportunities and gathering the data needed to make decisions about them. Market Opportunity Study: quantifies addressable market and reviews the competitive environment for a particular target segment. Competitive Review: provides an understanding of the competitive landscape and expected direct competitors to the proposed business concept. 6

8 Technical Feasibility Consultation: determines whether there is a compelling customer need for the proposed product that is not currently being met by others or that others would have difficulty providing as well as an assessment of the price customers would be willing to pay for the product. Private Hourly Consultation: as-needed meetings with the executive director, in one-hour blocks. Idea Review: critically assesses proposed changes in company focus and/or mission. HARVEST Long-term Profitability Planning Assistance: assists the management team in developing financial projections for potential opportunities for the company, both internally generated and acquisition possibilities. Strategic studies provide validation or contradiction of business assumptions. Strategic Acquisition Study: reviews compatibility with and the potential offered through possible acquisitions and assists in valuing the options. Introductions to Investment Bankers: introductions to potential investment bankers and/or financial intermediaries. 7

9 VT KnowledgeWorks Services and Fees GET STARTED Startup Chatup Discuss your business CoffeeWorks Reserve your time during scheduled hours at CoffeeWorks in the Virginia Tech Corporate Research Virginia Tech Reserve time during scheduled office hours on Virginia Tech s campus to discuss your entrepreneurial aspirations. Business Concept Review Submit the skeleton of your startup idea online and one of our VT KnowledgeWorks mentors will review it, offer their first impressions, and suggest ways to reduce your risk. Business Concept Review via GoToMeeting For people outside of the Roanoke-Blacksburg region. VT KnowledgeWorks Membership After your business concept review, become a VT KnowledgeWorks Member and register for any of the services offered below. $250/year Plan CONCEIVE: VT KnowledgeWorks Membership Not Required Startup Readiness Workshop $20 VT Student Business Concept Challenge Entry Fee $25 VT Tech Transfer Challenge Entry Fee Private Hourly Consultation $200/hour (non-member rate) Market Opportunity Study Competitive Review Technical Feasibility Consultation Initial Intellectual Property Review COMMIT: Become a VT KnowledgeWorks Member $250 Annual Membership Fee Pre-Launch Orientation Bundle $500 Business Model Preparation Assistance Investor Presentation Assistance Running Start Loan Application Assistance VT KnowledgeWorks Website Presence Included in annual membership Public Relations Included in annual membership Legal Entity Issues Discussion * VT KnowledgeWorks provides a variety of programs and services aimed at improving growth prospects for companies of all sizes and ages. To aid with risk reduction and encourage opportunity enhancement for its tenant companies, the CRC subsidizes their use of VT KnowledgeWorks program services for up to 10% of the annual rent during the first three years of tenancy. 8

10 Launch RECRUIT Design Your Team Personnel Needs Definition $250 Build Your Team Search Assistance Design Team Compensation Packages $250 FINANCE Presentation and Business Model Review $250 Locate Virtual Residency JumpStart Community Private Suites Incubation Service Credits for Early-Stage Tenants* Conference Facilities $900 first year; $1,500 second year (2-year limit) $125-$200/month (2-year limit) Request Quotation 10% of rent* Included for all tenants, including Virtual Residents and JumpStart Community members Execute Strategic Monitoring Personal Mentorship Presidents Council Private Hourly Consultation GROW $1,000/year $1,000/year $1,750/year $100/hour ADJUST Fresh Look Corporate Revisioning Market Opportunity Study Competitive Review Technical Feasibility Consultation Private Hourly Consultation $100/hour Idea Review $50 HARVEST Long-term Profitability Planning Assistance Strategic Acquisition Study Introductions to Investment Bankers No Charge 9

11 VT KnowledgeWorks Sponsors and Partners VT KnowledgeWorks, a division of the VTCRC, serves dozens of the most progressive new businesses in the region, and that number is growing steadily. Sponsorship of this program is a uniquely powerful way to participate in the formation and growth of the brightest and best new companies. Our sponsors are impressively visible within the community through our publicity channels, at our events, including our annual Global Partnership Week, and enjoy preferential access to the leaders of the blossoming enterprises that constitute our membership. VT KnowledgeWorks activities and mission are supported by numerous corporate, university, and municipal sponsors. Automation Creations, Inc. 10

12 When IP Matters TOWN OF C H RIST IANSBU RG CHRISTIANSBURG VA. Outreach and International Affairs 11

13 VT KnowledgeWorks Team Jim Flowers Executive Director xt.1 Jim is a proud veteran of almost 40 years in service to start-up and early-stage companies as an executive and consultant. Jim is the principal counselor for new member companies as they plan, launch, and grow. He conducts our Startup Readiness events several times each year. Christine Spalding Member Services Coordinator xt.3 christine.spalding@vtknowledgeworks.com Christine ensures that VT KnowledgeWorks members receive the maximum benefit from the VT KnowledgeWorks suite of program services. Whether she is coordinating educational meetings, scheduling strategic planning assistance, or orchestrating public relations services, she demonstrates dedication to her first priority VT KnowledgeWorks members. Lindsey Eversole Outreach Manager xt.2 lindsey.eversole@vtknowledgeworks.com Lindsey oversees and manages the VT KnowledgeWorks Global Partnership program, which offers university students and faculty, and companies from all over the world a unique opportunity to collaborate, exchange information, build relationships, and form lasting partnerships. Her scope of responsibility also extends into other global outreach programs, media, publicity, and public relations. 12

14 Dick helps emerging and evolving technology-based businesses assess, quantify and exploit their business opportunities, especially development of their business strategy and preparation of documents needed for investor discussions. Typical projects involve gathering the data needed for a company to make an intelligent decision about a market opportunity, its competition and the potential financial reward associated with a market opportunity. Dr. Richard Daugherty Director, Strategic Services xt.4 dick.daugherty@vtknowledgeworks.com Stay Connected VT KnowledgeWorks: VT KnowledgeWorks Global Partnership: VT KnowledgeWorks Blog: Facebook: Twitter: LinkedIn: