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SBIR Advance: Program Syllabus Page 1 Not to be distributed. ©2014 Center for Technology Commercialization
SBIR Advance Phase 1 Program Syllabus Instructor/Lean Startup Coach TBD Program Manager Todd Strother ([email protected] , 608‐890‐1015) Teaching Team Todd Strother, Dave Linz Days and Times Individual team kick‐off meeting: TBD Group kick‐off workshop: TBD: 2 hour GoToMeeting conference; All teams members & mentors are
required to participate. See page 3 for login details) “Lessons Learned” meetings: TBD: Every 2 weeks present learning updates
(2 hour GoToMeeting video conference; all teams and all team members required to participate. See Page 3 for login details and Page 4 for group designation.)
Software LaunchPad Central: https://launchpadcentral.com Equipment Computer microphone and/or webcam Recommended (but optional) Texts The Startup Owner’s Manual (SOM), Steve Blank and Bob Dorf
Business Model Generation (BMG), Alexander Osterwalder The SBIR Advance program requires in‐depth preparation and significant effort
OverviewCourseScheduleBelow is an overview of deliverables and Lean Startup topic by week.
Date Day/Time Awardee Deliverables Lean Startup Topic to Overview
Focus on Learning and Testing Viable Business Model
Class 1 TBD 7 minute “Lessons Learned Presentations” & 10 Customer interviews
Product / Market Fit
Class 2 TBD 7 minute “Lessons Learned Presentations” & 10 Customer interviews
Customer Segments
Class 3 TBD 7 minute “Lessons Learned Presentations” & 10 Customer interviews
Regulatory / Reimbursement Risk
Class 4 TBD 7 minute “Lessons Learned Presentations” & 10 Customer interviews
Customer Relationships
Class 5 TBD 7 minute “Lessons Learned Presentations” & 10 Customer interviews
Revenue
Begin to Prepare SBIR Phase 2 Commercialization Plan
Class 6 TBD 15 minute “Commercialization Plan Topics” 15 minute discussion and feedback
Comm. Plan Outline
Class 7 TBD 15 minute “Commercialization Plan Topics” 15 minute discussion and feedback
Comm. Plan Rough Draft
Class 8 TBD Final 10 minute presentations & Feedback Final Presentations (Example)
SBIR Advance: Program Syllabus Page 2 Not to be distributed. ©2014 Center for Technology Commercialization
ProgramDescriptionThis SBIR Advance program is at its core data‐driven entrepreneurship. The ultimate objective is that each company will write a winning SBIR Phase 2 Commercialization Plan (one that outlines a profitable and scalable business model and go‐to‐market strategy that is clear, fact‐based, and defensible), accelerate the commercialization of the SBIR‐developed technology, and accelerate its business development. The learning from the customer interviews can provide powerful arguments and support for the assertions you make in your commercialization plan. Both NSF and NIH are strong supporters of the Lean LaunchPad approach, and statements you can make that are backed up by quality customer interviews carry a lot of weight. This program will play a critical role to help you learn and apply the Lean Startup framework allowing you to test/advance/improve your business idea and commercialization plan while meeting SBIR Advance payment milestones. You are expected to talk with customers, partners and competitors as you encounter the chaos and uncertainty of building a startup. The experience of getting out of the building and talking to customers/stakeholders is demanding but time and again we have seen teams that commit to this process transform their business assumptions. This direct interaction with potential users and customers is essential to commercialize science (whether to license the technology or launch a startup.) This process can’t be outsourced. These teams saved years and millions of dollars for themselves, the NIH and the U.S. taxpayer. This same process is used at NIH and NSF and evidence shows a Lean Startup focused process of talking to 50+ customers/stakeholder is the most effective program for commercializing science.
Check out these Life Science / Biomed Startups using this approach: BCN Biosciences (2 minute video) BCN is developing a drug that increases anti‐cancer effect of radiation in lung cancer (and/or reduces normal tissue damage by at least 40%). They were certain their customers were Radiation Oncologists, that MOA data was needed, that they needed to have Phase 1 trial data to license their product, and needed >$5 million and 6 years. After 10 weeks and 100 interviews, they learned that these hypotheses were wrong. Clinacuity (2 minute video) Clinacuity’s technology automatically extracts data in real‐time from clinical notes, (the narrative text documents in a Electronic Health Record,) and provides a summary in real time. Their diagrams of the healthcare customer segment in slides 15‐18 were outstanding. While the Clinacuity video sounds like an ad for customer discovery, listen to what they said. This team really learned outside the building.
Cardiax (2 minute video)
Caridax is developing a neural stimulator to treat atrial fibrillation. Their video points out some of the common pitfalls in
customer discovery. Great summary from Mark Bates, the Principal Investigator: “You don’t know what you don’t know.
Scientific discovery is different than innovation. You as a prospective entrepreneur need this type of systematic vetting and
analysis to know the difference.”
SBIR Advance: Program Syllabus Page 3 Not to be distributed. ©2014 Center for Technology Commercialization
ProgramGoals1. Give the SBIR Advance Company an experiential, data‐driven entrepreneurship learning opportunity to help
determine the commercial readiness (product market fit) of their product/service. 2. Enable the Company to address only the most critical learning questions and devise tests allowing the team to
make clear go/no go decision regarding commercial viability of the effort 3. Each Company will develop a winning SBIR Phase 2 Commercialization Plan (one that outlines a profitable
and scalable business model and go‐to‐market strategy that is clear, fact‐based, and defensible).
ProgramExpectations Each team member should expect to commit 10 hours per week completing course learning and Customer
Discovery (This will translate into each team conducting at least 10 in person interviews every two weeks).
Test and validate customer and market potential of business idea NOT the technical potential.
Work closely with CTC to develop and execute an individualized plan based on Lean Startup best practices.
Complete Lean Startup learning objectives for the two‐week period. This includes completing all watching/reading tasks outlined in this syllabus.
Participate in mandatory online class held via video conference call to update all teams’ recent learning and next steps including a brief presentation of business model canvas.
Consistently document learning and progress in LaunchPad Central. Subscribe to the following Lean Startup Manifesto to the best of your ability:
There are no facts inside your building, so get outside and talk to customers.
Failure is an integral part of the search and expedites my learning.
Focus on the most critical learning objectives to move my idea to market quickly.
Make continuous iterations and pivots.
Design experiments and test to validate your guesses.
CourseRoadmapThe first 5 online classes are organized around:
Using LaunchPad Central to log your Customer Discovery process. o DELIVERABLE: Record customer discovery progress using LaunchPad Central to capture the narrative,
contact information, learning and insight. (It’s how we measure your progress and it is required that you maintain and update it at least once per week. Best practices suggest you update after every customer interview.)
Team presentations on your “Lessons Learned” from getting out of the building and iterating or pivoting your business model.
o DELIVERABLE: A biweekly, 10‐minute “Lessons Learned” presentation on your progress. Your weekly and final slide decks should not contain any proprietary information. They should focus on your business model and customer discovery. During each Team’s presentation, the Teaching Team will offer observations and guidance. When
not presenting, you will be offering input to your peers. Class 6
Prepare 15 minute presentation covering your status relative to the "Commercialization Plan Topics." These are 10 topics that should be addressed in some fashion in your commercialization plan regardless of which agency you are submitting to.
Class 7
Prepare 15 minute presentation on your commercialization plan covering the Topics specified in the appropriate agency Guide (NSF or NIH or see specific guidance from the other agencies). Plan on a 1 3/4 ‐ 2 hour web meeting, with 15 minutes of presentation, and up to 15 minutes for discussion and feedback for each of the 4 teams.
Class 8
Final Lessons Learned Presentation
SBIR Advance: Program Syllabus Page 4 Not to be distributed. ©2014 Center for Technology Commercialization
CourseOverviewOnline “Lessons Learned” classes will convene on GoToMeeting During each two week period, your Team is required to get out of the building and test your business model assumptions, meeting with about 10‐15 customer contacts (with the objective of conducting at least 60‐80 total contacts in three months). Record your progress on LaunchPad Central. Update your first slide each week to include the total number of customers you talked to.
AccessingGoToMeetingGroupMeetings:1. Please join my meeting. https://global.gotomeeting.com/meeting/join/759350445 2. Use your microphone and speakers (VoIP) ‐ Or, call in using your telephone. United States: +1 (786) 358‐5420 Access Code: 759‐350‐445 Audio PIN: Shown after joining the meeting ‐ Meeting ID:759‐350‐445
Each GoToMeeting “Lesson Learned” class will be 2 hours
Activities for 2‐week period leading to GoToMeeting conference call
Note: The work you present will be based on the videos/readings you completed the prior week. The lecture you watch just before each session, as well as the in‐session lecture, will cover the upcoming week’s business model topic to prepare you for the upcoming discovery tasks. We expect you have watched the video lecture prior to class.
Prepare “Lessons Learned”
Powerpoint. Upload to dropbox
Complete videos/readings for next week’s Lean Startup
topic
Talk to customers (10
total)
Engage Mentors
Document interviews & update
canvas in LPC
SBIR Advance: Program Syllabus Page 5 Not to be distributed. ©2014 Center for Technology Commercialization
Guidelinesfor10minute“LessonsLearned”TeamPresentationsEvery two weeks you are expected to have an updated version of your entire business model canvas, but your customer discovery should focus especially on the topic discussed in the previous class. This is true even if you’ve pivoted and are re‐exploring topics from earlier lectures. In the case of a pivot (which can be indicative of successful customer discovery), you will have to work doubly hard to cover earlier class topics and touch on current class topics in your weekly presentation. Please follow the format as described in the chart below.
Slide 1 Cover slide: team name, team members/roles
Number of customers spoken to this week
Total number spoken to since the start of this course
Three sentence description what the team does and why I should care o Note: We don’t want a rundown of your technology. Focus on what pain you are
solving and for who are you solving this (this will change as your idea evolves/pivots)
Market Size (TAM,SAM,TM, and did it change this week) – Exported from LPC o This will change as your customer segment changes as your idea evolves/pivots
Slide 2 Updated business model canvas – week‐to‐week changes shown in red (Exported from LPC) *Multi‐sided markets shown in different colors
Slide 3‐n What did you learn about “topic of the day” (Canvas block x)?
Hypothesis: Here is what we thought
Experiments: So here’s what we did
Results: So here’s what we found
Iterate: So here’s what we are going to do next Slide 4 Diagram (if appropriate) of what you learned this week (e.g., customer workflow, payment flows,
distribution channel diagram)
Due to the pace and tempo of the course, all teams will be held accountable to have completed the reading and video materials detailed in the syllabus prior to class.
SBIR Advance: Program Syllabus Page 6 Not to be distributed. ©2014 Center for Technology Commercialization
DetailedCourseSchedule(DATE)‐Kick‐offWorkshop:(TIME)Location: GoToMeeting (See log in info) Pre‐Kick‐OffWorkshopassignments(completebefore(DATE)meeting:intotalthisshouldonlytake~60minutes) What is Lean Startup?
https://www.youtube.com/watch?feature=player_embedded&v=WAdikBfKeD8
http://entrepreneurship.org/Founders‐School/The‐Lean‐Approach/The‐Lean‐Method.aspx What is a Business Model?
https://www.youtube.com/watch?feature=player_embedded&v=2FumwkBMhLo
https://www.youtube.com/watch?v=LEq5Yx42fEE
Using the Business Model Canvas to communicate your evolving idea https://www.youtube.com/watch?v=mQv9qiB‐AKM
LaunchPad Central Videos Get access to these videos by logging into LaunchPad Central. Click on 9 box matrix icon (see red arrow below) in upper left hand corner of LaunchPad Central window. Click on “Flipped Classroom”.
Watch Video Lectures 1 What We Now Know Watch Video Lectures 1.5a & 1.5b Business Models and Customer Development Watch Video Lectures 2 Value Proposition Watch Video Lectures 3 Customer Segments
Customer Interviews: “How To” Resources
Pre‐Planning
Pre‐Planning Pt. 1 (4:55)
Pre‐Planning Pt. 2 (3:25)
Pre‐Planning Pt. 3 (1:29)
http://giffconstable.com/2010/07/12‐tips‐for‐early‐customer‐development‐interviews/
How to conduct interviews
Interviews Pt. 1 (5:40)
Interviews Pt. 2 (3:49)
Asking the Right Question (2:37)
Read:
12 Tips for Early Customer Development Interviews
Bad Customer Development Questions and How to Avoid these Mistakes Supplemental (but optional) customer interview “how to” resources to utilize throughout course:
Outside the Building Death by Demo 1 (2:18) Death by Demo 2 (1:45) Assuming You Know what the customer wants (1:56) Understanding the Customer Problem (the wrong way) or Death by PowerPoint (1:42)
SBIR Advance: Program Syllabus Page 7 Not to be distributed. ©2014 Center for Technology Commercialization
Understanding the Problem (the right way) (3:22) Customers Lie (2:37) The Distracted Customer (3:12) Engaging the Customer (3:37) Customer Empathy (2:25) The User, the Buyer & the Saboteur (2:24) Multi‐Person Interview (2:03) B‐to‐B to C (2:15) Existing vs. New Markets (5:29) Public Interviews (2:11)
Back in the Building
Extracting Insight from Data (2:59) Getting the MVP Right (3:34) Pay Attention to Outliers (2:16) The “Other 85%” (2:32)
SBIR Advance: Program Syllabus Page 8 Not to be distributed. ©2014 Center for Technology Commercialization
Time Kickoff Meeting Outline
30 min Introduction Introductions, Class Goals, Teaching Philosophy, Expectations of You, Examine Best Practices
30 min Business Model/Customer Development What’s a business model? What are the 9 parts of a business model? What are hypotheses? What is the Minimum Feature Set? What experiments are needed to run to test business model hypotheses? What’s “getting out of the building?” What is market size? How to determine whether a business model is worth doing?
30 min Best Practices for Customer Discovery How to call on people you don’t know. How to get the most out of people you do. Expectations, speed, tempo, logistics, commitments. How do I protect my IP when I speak to partners? Does Lean work for non‐software efforts? How do I interview? How is an interview different than a sales call?
30 min Q & A
Assignment to complete BEFORE Class 1 – Week of (DATE)
READ/WATCH: LOCATION
Watch Video Lectures 1, 1.5a, 1.5b, 2, & 3: What We Now Know and Business Models and Customer Development & Value Proposition, Customer Segments
LaunchPad Central/Flipped Classroom
Skim prior team presentations: http://www.slideshare.net/sblank
Read Class 1 Discussion Questions – Be prepared to answer Dropbox
LaunchPad Central Training Welcome to LaunchPad Central video series
o Watch and Practice Business Model Canvas video o Watch and Practice Customer Development video
Getting Started as a Team Member in LaunchPad Central
Complete “First Best Guess Business Model Canvas” in LPC *see tips below
Optional:
Read: Business Model Generation (BGM) pp. 14‐49 Read: Startup Owner’s Manual (SOM) pp. 1‐75, pgs 472 market size, pgs 112‐122 & 457‐458 market type, pp. 123‐124 competitors
“LESSONS LEARNED” PRESENTATION FORMAT: Slide 1: *See tips below Slide 2: Current business model canvas with any changes marked (exported from LPC) *see tips below Slide 3: Tell us about your Market size (TAM/SAM/Target) – how to guide Slide 4: What type of business are you building?: IP, licensing, startup, unknown Slide 5: What are your proposed experiments to test customer segment, value proposition, channel and revenue model of the hypotheses: What constitutes a pass/fail signal for each test (e.g. at what point would you say that your hypotheses wasn’t even close to correct)? Upload your presentation to Dropbox by 7:00 am day of class (naming convention: Groupx_TeamName_Date e.g., GroupA_DataComm_05062013)
SBIR Advance: Program Syllabus Page 9 Not to be distributed. ©2014 Center for Technology Commercialization
Tips for Class 1 Assignments “Lessons Learned” Presentation : Slide 1: Title Slide
Team name, University logo
Product picture/product description (1 sentence)
Pictures/names of your Team members **Save your presentations to Dropbox/SBIR AdvanceLessonLearned/Jan2015cohort using this naming convention: Groupax_ TeamName_Date (e.g., GroupA_DataComm_05062013)
Complete first “Best‐Guess” Business Model Canvas Guide
*Create in LaunchPad Central and export to Slide 2 of your PowerPoint slide
SBIR Advance: Program Syllabus Page 10 Not to be distributed. ©2014 Center for Technology Commercialization
Class 1 – Week of (DATE) Location: GoToMeeting (https://global.gotomeeting.com/meeting/join/759350445) Time Session
90 min “Lessons Learned” Team PresentationsTeams present their business model canvas. Each Team is allotted 10 minutes total to include 7 minutes for presentation, 3 minutes for Teaching Team comments.
30 min Lecture: Value Proposition/Product‐Market FitWhat problem are you solving? What is your product or service? Why will people want it (how do you know)? What value are you creating? Who’s the competition and how does your customer view these competitive offerings? Where’s the market? What’s the minimum feature set? What’s the Market Type? What was your inspiration or impetus? What assumptions drove you to this? What unique insight do you have into the market dynamics or into a technical shift that makes this a fresh opportunity?
30 min Q & A
Assignment to complete BEFORE Class 2 – Week of (DATE)
READ/WATCH: LOCATION
Review Video Lecture 3: Customer Segments LaunchPad Central/Flipped Classroom
Lean Startup in Health with Steve Blank (Watch starting at 10:30 mark)
Read/watch Minimum Viable Product explained
Optional:
Read: Business Model Generation pgs 146–150, 161–168 and 200–211
Read: The Startup Owner’s Manual, pgs 85‐97
How to find customers to interview
Getting Customer Interviews with Cold Emails
“LESSONS LEARNED” PRESENTATION FORMAT: Slide 1: Cover slide (Team member names, Team name, 1 to 2 sentence description of your product, number of total customer contacts AND number of customer contacts since last class) Slide 2: Current business model canvas with any changes marked in red Slide 3 ‐n: What did you learn about your value proposition from talking to your first customers?
Hypothesis: Here’s What We Thought Experiments: So Here’s What We Did Results: So Here’s What We Found Iterate: So Here’s What We Are Going to Do Next
Upload your presentation to Dropbox by 7:00 am day of class (naming convention: Groupx_TeamName_Date e.g., GroupA_DataComm_05062013)
ASSIGNMENT:
Get out of the building and talk to as many customers as you can (no less than 10)
Generate a value proposition hypothesis
Review customer interview “How to” resources
Ask potential customers about their burning problems, what they think about your value proposition.
Update your business model canvas based on your findings in LPC
Start to populate customer discovery tool (your customer discovery narrative on LaunchPad Central) Identify your type of business (IP/licensing/startup/unknown)
SBIR Advance: Program Syllabus Page 11 Not to be distributed. ©2014 Center for Technology Commercialization
Class 2 – Week of (DATE) Location: GoToMeeting (https://global.gotomeeting.com/meeting/join/759350445) Time Session
90 min “Lessons Learned” Team PresentationsTeams present their business model canvas. Each Team is allotted 10 minutes total to include 7 minutes for presentation, 3 minutes for Teaching Team comments.
30 min Lecture: Customer Segments Need to be able to answer: Who are your first best customers? Why? What gains do they want to see? What are your customer’s desired goals? What pains do they want to want to solve? What jobs/tasks do they want to accomplish? Output: ID top 2‐3 customer segments; Select ‘best’ target market; 10 interviews from selected segment identifying as high‐value problem + stories of what they've tried in the past *’Best’ = Already looking & ‘paid’ for solution, easy to find & access w/ short sales cycle
30 min Q & A
Assignment to complete BEFORE Class 3 – Week of (DATE)
READ/WATCH: LOCATION
Review Video Lecture 3: Regulation and Reimbursement Risk
Read Class 2 Discussion Questions – Be prepared to answer Dropbox
Optional:
Read: Business Model Generation pgs 146–150, 161–168 and 200–211
Read: The Startup Owner’s Manual, pgs 85‐97
How to find customers to interview
Getting Customer Interviews with Cold Emails
“LESSONS LEARNED” PRESENTATION FORMAT: Slide 1: Cover slide (Team member names, Team name, 1 to 2 sentence description of your product, number of total customer contacts AND number of customer contacts since last class) Slide 2: Current business model canvas with any changes marked in red Slide 3 ‐n: What did you learn about your value proposition from talking to your first customers?
Hypothesis: Here’s What We Thought Experiments: So Here’s What We Did Results: So Here’s What We Found Iterate: So Here’s What We Are Going to Do Next
Upload your presentation to Dropbox by 7:00 am day of class (naming convention: Groupx_TeamName_Date e.g., GroupA_DataComm_05062013)
ASSIGNMENT:
Get out of the building and talk to as many customers as you can (no less than 10)
Review customer interview “How to” resources
Describe your customer archetypes. What were your hypotheses about who your users and customers were? Did you learn anything different?
If your customer is part of a company, who is the decision maker, how large is their budget, what are they spending it on today, and how are they individually evaluated within that organization, and how will this buying decision be made?
Create a petal diagram of your ecosystem
Ask potential customers what they think about your value proposition. You may consider online survey tools* as a secondary means by which to generate more data.
Update your business model canvas based on your findings in LPC
Start to populate customer discovery tool (your customer discovery narrative on LaunchPad Central) Identify your type of business (IP/licensing/startup/unknown)
SBIR Advance: Program Syllabus Page 12 Not to be distributed. ©2014 Center for Technology Commercialization
Class 3 – Week of (DATE) Location: GoToMeeting (https://global.gotomeeting.com/meeting/join/759350445) Time Session
90 min “Lessons Learned” Team PresentationsTeams present their business model canvas. Each Team is allotted 10 minutes total to include 7 minutes for presentation, 3 minutes for Teaching Team comments.
30 min Lecture: Regulatory and Reimbursement RiskWhat is your regulator pathway? Expected Coast/Time? Is there a path to market that does not require regulatory risk? What is the eco‐system of reimbursement? What are competitors currently being reimbursed at? Will you be able to obtain similar rates? How does / how will your solution need to impactquality measures at ACO going forward?
30 min Q & A
Assignment to complete BEFORE Class 4 – Week (DATE)
READ/WATCH: Reinventing Life Science Startups – Evidence‐based Entrepreneurship
Lean Startup in Therapeutics and Diagnostics Lean Startup in Medical Devices and Digital Health
“LESSONS LEARNED” PRESENTATION FORMAT: Slide 1: Cover slide (Team member names, Team name, 1 to 2 sentence description of your product, number of total customer contacts AND number of customer contacts since last class) Slide 2: Current business model canvas with any changes marked in red Slide 3 ‐n: What did you learn about your customer segment from talking to your customers?
Hypothesis: Here’s What We Thought Experiments: So Here’s What We Did Results: So Here’s What We Found Iterate: So Here’s What We Are Going to Do Next
Upload your presentation to Dropbox by 7:00 am day of class (naming convention: Groupx_TeamName_Date e.g., GroupA_DataComm_05062013)
ASSIGNMENT:
Talk to 10‐15 customers face to face. Outline regulatory path (time and cost). Draw a re‐imbursement ecosystem. How often your solutions get used, reimbursed (is it bundled payment), how much $ does doctor get (is this more or less than previous procedure solution)?
Update your canvas in LPC
SBIR Advance: Program Syllabus Page 13 Not to be distributed. ©2014 Center for Technology Commercialization
Class 4 – Week of (Date) Location: GoToMeeting (https://global.gotomeeting.com/meeting/join/759350445) Time Session
90 min “Lessons Learned” Team PresentationsTeams present their business model canvas. Each Team is allotted 10 minutes total to include 7 minutes for presentation, 3 minutes for Teaching Team comments.
30 min Lecture Discussion: Customer Relationships: Get/Keep/GrowHow do you create end user demand? How does it differ on the web versus other channels? Evangelism vsexisting need or category? General Marketing, Sales Funnel, etc. How does demand creation differ in a multi‐sided market?
30 min Q & A
Assignment to complete BEFORE Class 5 – Week of (DATE)
READ/WATCH: LOCATION
Watch Video Lecture 5 – Customer Relationships LaunchPad Central/Flipped Classroom
Pricing Strategies ‐ Wikipedia
Pricing Experiments you might know...
Read Class 4 Discussion Questions – Be prepared to answer Dropbox
Optional:
Read: Business Model Generation pgs 227‐256, 332‐342
Read: The Startup Owner’s Manual, pgs 211‐217
“LESSONS LEARNED” PRESENTATION FORMAT: Slide 1: Cover slide (Team member names, Team name, 1 to 2 sentence description of your product, number of total customer contacts AND number of customer contacts since last class) Slide 2: Current business model canvas with any changes marked in red Slide 3 ‐n: What did you learn about how to Get, Keep, and Grow your customers?
Hypothesis: Here’s What We Thought Experiments: So Here’s What We Did Results: So Here’s What We Found Iterate: So Here’s What We Are Going to Do Next
Upload your presentation to Dropbox by 7:00 am day of class (naming convention: Groupx_TeamName_Date e.g., GroupA_DataComm_05062013)
ASSIGNMENT:
Build ways to communicate strategy and cost to Get‐Keep‐Grow customers (see examples)
Build demand creation budget and forecast.
What is your customer acquisition cost?
What is your customer lifetime value? Channel incentives – does your product or proposition extend or replace existing revenue for the channel?
What is the “cost” of your channel, and its efficiency vs. your selling price?
Update your canvas in LPC
SBIR Advance: Program Syllabus Page 14 Not to be distributed. ©2014 Center for Technology Commercialization
Class 5 – Week of (DATE) Location: GoToMeeting (https://global.gotomeeting.com/meeting/join/759350445) Time Session
90 min “Lessons Learned” Team PresentationsTeams present their business model canvas. Each Team is allotted 10 minutes total to include 7 minutes for presentation, 3 minutes for Teaching Team comments.
30 min Lecture Discussion: Revenue ModelWhat’s a revenue model? What types of revenue streams are there? How does it differ on the web versus other channels? How does this differ in a multi‐sided market?
30 min Q & A
Assignment to complete BEFORE Class 6 – Week of (DATE)
READ/WATCH:
Commercialization Plan Questions from NSF Phase 2 proposal guidance
NIH Ph2 Comml Plan guidance from SBIR Application Guide
NSF Ph2 Comml Plan questions and guidance
NIH Comml Plan Reviewer guidance
Commercialization Plan Outline Team Presentations15 minute presentation covering your status relative to the Topics in the attached file named "Commercialization Plan Topics." These are 10 topics that should be addressed in some fashion in your commercialization plan regardless of which agency you are submitting to. This presentation will be an opportunity to think through your commercialization strategy and find out where the holes are or where additional data and support is needed to shore up your plan. Try to keep it to one or perhaps two slides per topic. This will be good practice on clarity and brevity. We will all provide feedback to each other on the presentations. So plan on a 1 3/4 ‐ 2 hour web meeting, with 15 minutes of presentation, and up to 15 minutes for discussion and feedback for each of the 4 teams.
ASSIGNMENT:
Prepare Commercialization Plan Outline
SBIR Advance: Program Syllabus Page 15 Not to be distributed. ©2014 Center for Technology Commercialization
Class 6 – Week of (Date) Location: GoToMeeting (https://global.gotomeeting.com/meeting/join/759350445) Time Session
90 min Commercialization Plan Outline Team Presentations15 minute presentation covering your status relative to the Topics in the attached file named "Commercialization Plan Topics." These are 10 topics that should be addressed in some fashion in your commercialization plan regardless of which agency you are submitting to. This presentation will be an opportunity to think through your commercialization strategy and find out where the holes are or where additional data and support is needed to shore up your plan. Try to keep it to one or perhaps two slides per topic. This will be good practice on clarity and brevity. We will all provide feedback to each other on the presentations. Plan on up to 15 minutes for discussion and feedback for each team.
30 min Q & A
Assignment to complete BEFORE Class 7 – Week of (DATE)
READ/WATCH:
Review:
Commercialization Plan Questions from NSF Phase 2 proposal guidance
NIH Ph2 Comml Plan guidance from SBIR Application Guide
NSF Ph2 Comml Plan questions and guidance
NIH Comml Plan Reviewer guidance
Preparing for Final Lessons Learned Presentation Dropbox
ASSIGNMENT:
Prepare Commercialization Plan Presentation For NSF, use NSF Ph2 Comml Plan questions and guidance (taken from NSF SBIR Application Guide
http://www.nsf.gov/eng/iip/sbir/phase_II.jsp). The questions in the NSF guidance are organized in 4
major sections: Market Opportunity, Company/Team, Product/Technology and Competition, and
Finance and Revenue Model. Your presentation should address these questions as you intend to
address them in your commercialization plan. We will again all provide feedback and "score" you on
how well you address the NSF questions.
For NIH, use NIH Ph2 Comml Plan guidance from SBIR Application Guide taken from the NIH SBIR
Application Guide (http://grants.nih.gov/grants/funding/424/SF424_RR_Guide_SBIR_STTR_VerC.pdf),
pp144‐145. NIH organizes the Plan into 7 sections, so you should follow this outline for your
presentation and Plan. Note in the attached "NIH Comml Plan Reviewer guidance" that NIH advises
reviewers that the "Significance" score should reflect the commercial prospects as presented in the
Commercialization Plan. NIH does not provide the level of detail and questions that NSF provides, so
you may find the NSF questions to be useful, in addition to the NIH guidance. We will all provide
feedback and "score" you on how well you address the 7 NIH sections.
For other agencies, use the appropriate agency guidance.
Update your canvas in LPC
SBIR Advance: Program Syllabus Page 16 Not to be distributed. ©2014 Center for Technology Commercialization
Class 7 – Week of (Date) Location: GoToMeeting (https://global.gotomeeting.com/meeting/join/759350445) Time Session
90 min Commercialization Plan Rough Draft PresentationsEach team will do a 15 minute presentation on your commercialization plan covering the Topics specified in the appropriate agency Guide (NSF or NIH). Plan on up to 15 minutes for discussion and feedback for each of the teams. For NSF, use NSF Ph2 Comml Plan questions and guidance (taken from NSF SBIR Application Guide http://www.nsf.gov/eng/iip/sbir/phase_II.jsp). The questions in the NSF guidance are organized in 4 major sections: Market Opportunity, Company/Team, Product/Technology and Competition, and Finance and Revenue Model. Your presentation should address these questions as you intend to address them in your commercialization plan. We will again all provide feedback and "score" you on how well you address the NSF questions. For NIH, use NIH Ph2 Comml Plan guidance from SBIR Application Guide taken from the NIH SBIR Application Guide (http://grants.nih.gov/grants/funding/424/SF424_RR_Guide_SBIR_STTR_VerC.pdf), pp144‐145. NIH organizes the Plan into 7 sections, so you should follow this outline for your presentation and Plan. Note in the attached "NIH Comml Plan Reviewer guidance" that NIH advises reviewers that the "Significance" score should reflect the commercial prospects as presented in the Commercialization Plan. NIH does not provide the level of detail and questions that NSF provides, so you may find the NSF questions to be useful, in addition to the NIH guidance. We will all provide feedback and "score" you on how well you address the 7 NIH sections. For other agencies, use the appropriate agency guidance.
30 min Q & A re Final Lessons Learned Presentation and Draft Commercialization Plan
Assignment to complete BEFORE Class 8 – Week of (DATE)
READ/WATCH:
Preparing for Final Lessons Learned Presentation Dropbox
Watch Final Presentations Examples ASSIGNMENT:
Prepare Commercialization Plan Rough Draft
Prepare Final Lessons Learned Presentation
Update your canvas in LPC
SBIR Advance: Program Syllabus Page 17 Not to be distributed. ©2014 Center for Technology Commercialization
Class 8 – Week of (Date) Location: GoToMeeting (https://global.gotomeeting.com/meeting/join/759350445)
Final10‐minuteLessonsLearnedPresentationGuidelineThis will be different from your previous presentations as the objective is to tell the story of your journey through the Customer Discovery process. This presentation should:
• Tell a story of what you did (e.g. customer discovery, mistakes, etc) and what you learned • Focus on insights rather than data points • Highlight your “a‐ha!” moment(s) • Include images and graphics that support your story • Text should be brief and legible (i.e., large enough to be read)
The slides require some standard content as described below.
• Begin with an introduction of your Team (Team name and number, member names and roles, total interviews completed, and total in‐person interviews).
• Include multiple iterations of the Business Model Canvas (including first, last, and points of critical pivots) and diagrams. Make sure these slides are legible, in a large enough font to be read and understood.
• End with a slide including your Go/No‐Go decision and links to your videos (Lessons Learned and Technical) on YouTube.
Your slide deck should support your story telling: don’t present a narration of your slides. Your presentation should be a dynamic and engaging delivery of your Team’s story. Sample presentations from previous cohorts are available for your reference. The following is a sample of an appropriate set of slides for this presentation: Slide 1: Team Name, total number of interviews, total number of in‐person interviews & a brief statement
about what your initial idea was and the size of the opportunity Slide 2: Team members –name, background, expertise and your role for the Team Slide 3: Business Model Canvas, Version 1. (Verbally address, “Here was our original idea...”, make sure this is
legible, use a large font) Slide 4: “Here’s what we did…”(explain how you got out of the building, who you met, etc, eg: display logos and
photos of customers, or a map of the territory covered) Slide 5: “What we found was…” (reality); Include illustration of customer archetype or market size diagram to
show what was learned from this new information Slide 6: Business Model Canvas, Version 2, illustrating iteration or pivot… Explain why and what you found. We
then advanced this hypothesis… Slide 7: So here’s what we did (explain how you got out of the building); Perhaps include photos of the
countryside or the factory you visited. Slide 8: And here’s what we found (what was reality); including a photo and great quote that summarizes a key
lesson learned; So then… Slide 9: Your distribution channel diagram may illustrate what you learned. Slide 10: Business Model Canvas Version 3. We iterated or pivoted… explain why &what you found. Final Slide: Clearly states “Go” or “No Go” and includes links to your videos on YouTube.
Glossaryofcommontermsandacronyms:
Time Session
2 hours Final “Lessons Learned” Team presentationsThis will be a 10 minute presentation of your key learnings during the customer development interviews in the program, and what you will do next as a result of these learnings. We will likely have guests from WEDC and others on this web meeting. WEDC is the organization that provided funding for the SBIR Advance program.
30 min Closing Session
SBIR Advance: Program Syllabus Page 18 Not to be distributed. ©2014 Center for Technology Commercialization
Agile development: Iterative and incremental development, where solutions evolve through collaboration Business Model Canvas: template for developing and documenting new business models, made up of 9 key building blocks Customer archetype: fictional character created to represent the different user types within a targeted demographic, attitude and/or behavior set that might use a site, brand or product in a similar way. Customer discovery: Process of asking questions to understand needs and pain points of potential customers IP: Intellectual Property such as discoveries and inventions, often protected by patents and trademarks LPC: LaunchPad Central; Online platform for tracking your progress through the SBIR Advance program MVP: Minimum Viable Product; the basic product (or service) you can take to market NDA: Non‐Disclosure Agreement; confidentiality agreement OEM: Original Equipment Manufacturer SAM: Served Available Market TAM: Total Available Market Teaching Team: The class instructors; usually entrepreneurs, entrepreneurial educators and Technologists Udacity: Online learning platform; videos of Steve Blank’s lectures Value Proposition: What value do we deliver to the customer? What customer needs are we satisfying? VC: Venture Capitalist; a person (or organization) who provides capital to startup ventures