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INFORMATION SESSION
APRIL 30, 2020
Introduction
Incubators and Regional Programs
Innovation Fund 101
— About the Innovation Fund
— Activity & Impact
— How it Works
— Sample Presentation
— Important Dates & Information
Agenda
JUMPSTART’S ENTREPRENEURIAL PURPOSE
– Lead the network of
15 NEO partners and
collaborate with another 100+
in NEO
– Manage backbone operations
(Metrics, Reporting, Funding,
Deal Flow Management)
– Develop new partnerships with
service and capital providers
CAPITAL
1SERVICES
2ECOSYSTEM
3
– Provide crucial support services to
diverse technology startups and
second stage companies
– Services include:
• Sales
• Marketing
• Mentoring
• Strategy
• Talent Recruiting
• Access to Capital Support
– Assist portfolio companies through
the Evergreen and EMF Funds
– Capital options designed specifically
to assist women and minority tech
entrepreneurs and address
Northeast Ohio’s early-stage Series A
capital gap
– Help entrepreneurs and small
business owners create meaningful
jobs with lending assistance from
Growth Opportunity Partners
JUMPSTART MANAGES THE NEO ECOSYSTEM
— Lead a network of 11 NEO partners and collaborate with another 100+ NEO entities on a day-to-day basis
— Manage backbone operations (metrics, reporting, funding, deal flow management) for all 11 NEO collaborators
— Continue to develop new partnerships with service & capital providers to meet client needs
ABOUT BRAINTREE
business incubator | counseling | networking & education | capital access
The Critical Upfront Work
Problem Statement
Proven need
Value Prop
Sized market
Product Detail
Buyer Profile
Competitive
Roadmap
Go to Market
Product & Pricing
Sales/Marketing Strategy
Sales Funnel
Financial Model
P&L
Capital Invested
Staffing Growth
Pitch
v
1:1 Support Via NEO Network
Mentoring & Coaching
• Market Sizing
• Financials
• Overall Support
Innovation Fund Partners
Innovation Fund’s purpose
Recipient Requirements (A and B level awards)
— Located in Northeast Ohio’s 21-county region
— Developing new technology in high growth industries
— Business/technology is at proof of concept/startup phase
— Provide educational experience for student(s) and/or faculty
— Receive mentoring through GLIDE and/or regional partner
— Provide 1:1 match
Additional Award Requirements
— Agree to Fund Replenishment Right if business is successful
— Repayment of loan
Build talent, grow jobs and create enhanced educational oppor tunities in
entrepreneurship for students while helping entrepreneurs turn good technology
ideas into viable businesses
Two Funding Levels:
A: Imagining St age
awar ds up to $25,000
proof of concept
B : Incubating St age
awar ds up to $100,000
validate the business
>6,298 inquiries
267 awards*
219 companies*
$14.35M value of awards*
$527M follow-on funding
>230 educational experiences
>855 jobs
$65K – $120K salary range
Activity
1,606 accepted applications
Impact
$349M sales revenue
ACTIVITY & IMPACT
jumpstartnetwork.org
HOW IT WORKS
2APPLY/REVIEW
1INQUIRE
3REVIEW/
SCREEN
4EVALUATE
& DECIDE
6AWARD/
DOC REVIEW7
FUNDING
5FINAL
PRESENTATION
NOW!Financials June 5
Application – June 15 July 7 or July 9
July 15
July 28
August 4
Key Points on Application Submission
• You must upload financials in order to submit your
application.
• All questions must be completed
• Pay attention to the word limits
• Be sure the contact information provided is current
and accurate
Key Points to Remember!
• Be sure the contact information provided is current
and accurate
• All questions must be completed – pay attention to
word limits!
• You must upload financials in order to submit your
application.
• Special requests cannot be honored.
PRESENTATION REVIEW
— 30 minutes with Screening Committee (July 7th or July 9th)
— familiarize committee with entrepreneur and capabilities
— ask questions that surface from the application review
— follow the format /outline provided
The Presentation
PRESENTATION FORMAT
Opening slide
— company name, city, state & presenter
— CEO name & contact info
— number all slides (example: “5/18” or “5 of 18”)
— Footer on every slide should include company name
56 MILLION PEOPLE
$6,200,000,000
SLIDE #1: Statement of the problem
Describe the significant problem in the market place that your innovation will solve
Gum Graft SurgeryScaling & Root Planing
SLIDE #2: Current solutions and their inadequacies
Talk about the solutions that attempt to address the problem described in slide #1
Meet OraFlow™
The Dentist in-a-box™
ORALECTRICS’ SOLUTION – HOW IT WORKS
Preliminary Design #1
ORALECTRICS’ SOLUTION – HOW IT WORKS
SLIDE #4: PRODUCT DESCRIPTION Break down your product into its components and describe in lay terms
You can allow for 3 to 4 slides to describe product, if needed
Slide #5: Market description
— who’s the buyer?
— how do they buy?
— how many buyers?
— what is dollar size of current market?
ORALECTRICS’ SOLUTION – HOW IT WORKS
COMPETITIVE ADVANTAGE
Cost To Patient Treats Gingivitis & Periodontitis
Gum Growth Bone Growth Painless
Gum Graft $1000 per tooth No Yes No No
Scaling & Root Planing
$800 - $1000 Yes No No No
Bone Graft $800+ per tooth area
No No Yes No
PerioProtect $800 - $1000+ Yes No No Yes
OraFlow Pro $400 - $800 Yes Yes Yes Yes
SLIDE #6: COMPETITIVE MATRIXCOMPARES ALL THE CURRENT SOLUTIONS BY FEATURES/BENEFITS RELEVANT TO USER
Slide #7: Marketing plan & reimbursement codes
4 Ps of marketing
1) price
2) place
3) product
4) promotion
ORALECTRICS’ SOLUTION – HOW IT WORKS
Slide #8: Timeline slide Milestones, capital required, new key hires, FDA approval,
product/marketing/market rollout
ORALECTRICS’ SOLUTION – HOW IT WORKS
1 2 3 4 5
Market share
Sales
$$
units
COGS
GM $
%
Operating expenses
net BT
Slide #9: Financial forecast 5 year thumbnail proforma as follows, from top line to bottom
Slide #10: IP
— name of law firm
— date of filing
— title
— State
— should our patent(s) issue, we will be the only ones that can do __, ____,
____ and ____, etc.
Slide #11: Management (list)
Slide #12: Board of Directors (list if applicable)
Slide #13: Advisory Boards (list if applicable)
Slide #14: Summary of funding request and use of funds
Slide #15: 30 second elevator pitch, competitive advantage
End & “Thank you”
The Funding Process
Criteria We Look For
• Innovative/cutting-edge technology in one of the high growth industry sectors
• Strong intellectual property
• Will attract follow-on investment
• Will create jobs for Northeast Ohio
• Company must be located or willing to relocate to one of the 21 Northeast Ohio counties
SCORING BASED ON “1-5”
Competitive Advantage Clearly articulated/compelling?Breakthrough in science, market, business model or product?
Patentable or trade secret protectable?Unique/differentiated business model?Capable of creating barriers to entry?
Market Opportunity Compelling/urgent market need validated through research?
Appealing to future investors?Growing/high-growth/hot market?
Business Model Validation Readily scalable? (nationally/intern)Reasonable/feasible market-g-to idea or plan?
Product/Technology clearly fit the market need?
Timeline + Costs + Tasks Clearly described – logical reasonable? Does company already have sales?
Financials Cash needs/funding rounds to market make sense?Revenue forecast is realistic?
Scaling costs are accounted for?Gross margins are reasonable/justified?
Team More than one member/team approach?Commitment attested by investment/time?Investment credibility?
Reasonable business acumen?Openness to coaching or board formation?Technical acumen? Financial acumen? Sales acumen?
Investment Reasonable amount of money? Time?
Award Importance Will funding reduce risk for follow on investors?
Are budget/milestones meaningful and risk reducing?
Job Creation Jobs???
jumpstartnetwork.org
RESOURCES
Tech Sector Contact Email
Advanced Materials Rick Stockburger [email protected]
Life Sciences Russ Donda [email protected]
Information Technology Heather Hall
Bob Sopko
Contact Email
Bob Leach [email protected]
Russ Donda [email protected]
Presentation Assistance
Technology Exper ts
Innovation Fund General Questions
Contact Email
Dennis Cocco [email protected]
Jim Walborn [email protected]
Julie Thompson [email protected]
IMPORTANT DATES
June 5th – Financial Projections DueJune 15th – Application Due
July 7th or July 9th – Screening Committee PresentationJuly 15th – Decisions Made – moving forwardJuly 28th – Final Presentations
August 4th – Document Review Session w/ AwardeesAugust 21st – Documents DUE!Early October – Funds available
