Building Global Innovators

www.mitportugal-iei.org

Buildingglobal

innovatorsiSCTe-iul mit-portugal Venture Competition

Track Finals, 3rd ed.13th November 2012 – ISCte-IUL

lisbon. portugal

Building global innovatorsTrack Finals

2/3


ISCTE-University Lisbon Institute,

MIT-Portugal, UTEN, Caixa Capital and

MIT entities - Deshpande Center for

Technological Innovation and The Martin

Trust Center for MIT Entrepreneurship,

welcome you to the Building Global

Innovators 3rd edition Track Finals

Ceremony!

Over the last 2 years semi-finalists from

the 1st and 2nd editions have been excelling

in getting their ventures off the ground.

Here are a few numbers that are increasing

by the day:

•Nearly€10millionhavebeenraisedby

20semi-finalistsintwoyears–over50%

from Venture Capital sources (Exhibit 1).

•100+newjobshavebeencreated

amountingtoatotalofover150jobs

in40start-upsthusfar.

•Nearly1000hoursofcoaching

and mentoring and since launch.

After an arduous and demanding

selection process in the Semi-finals,

our international panel of Judges has

nominated20semi-finaliststhatarenow

runningupforafinancialsupportof€100k

for each of the 4 Finalists, that can reach

€200k/eachifventuremilestonesaremet

in the Venture phase. These are:

•BSim2, Cardiocare, Cerebro-AP, HybPAT

and RD-Fixer in Life Sciences track

• i2d, RetroSim, Scootzz, Unplugg and

Veniam in Sustainable Energy &

Transportation Systems track

•Blastboard, Faces.in, Fidesys, GoClapp

and LikeHack in IT & Web track, and

•D-Orbit, Educed, BePetly, Trade Dare

and YouBeQ in the Consumer Products

& Services track.

The Finalists and Honorable Mentions

to be announced along with the 12 Semi-

finalists will participate in a 2-day

intensive bootcamp in Lisbon - e-Teams II,

based around talks and practical hands-on

focusing on individual start-ups. The teams

will old one-to-one mentoring sessions

with international entrepreneurs and

investors.Morethan40experts,mentors

and investors from Argentina Portugal,

Belgium, Finland, Germany, Portugal, UK

and USA to name a few, will be involved in

the bootcamp.

But this initiative would not be feasible

without the financial support provided to

the teams by our financial partner, Caixa

CapitalthatviatheCaixaEmpreender+

fund was bold enough to believe in

a common vision of contributing to

the development of our international

innovation eco-system, with a financial

supportofupto€1millionayear

to 4 start-ups.

Having said that, we should take into

account the historical perspective and

empiricalevidencefromover20year

accumulatedexperienceatMIT100k

Business Plan Competition, among other

MIT innovation ecosystem initiatives: it is

the runners up that end up becoming the

next “Steve Jobs” or “Bill Gates”, not the

Track Finalists. That’s why we focus our

effortsonthe20finalistcandidatesand

carry on supporting them throughout

thenext5years!

Today we are pleased to welcome you

tojoinusinthisglobalcelebrationof

new and exciting startups, along with

a highly vetted group of international

entrepreneurs, investors, catalysts and key

decision makers that will certainly inspire

us with their success stories, failures and

achievements: Eli Talmor, Joe Serface,

João Fernandes and Miguel Seabra.

A networking session will close the

ceremony during which you are invited to

joinusandfindoutmoreaboutcompanies

and our startup guests.

On behalf of the Organization we want to

thankonceagainourjudges,catalysts,

entrepreneurs and supporters for their

significant contributions and for helping us

setting the foundations for an International

technology hub, based in Portugal.

We wish you an inspiring session and hope

to see you on stage in a future edition!

Gonçalo Amorim

Program Director, Innovation &

EntrepreneurshipInitiative–MITPortugal


Agenda

17h00 – Registration

17h20 – Welcome Note by José Paulo

Esperança, ISCTE-IUL Pro-Rector

for Entrepreneurship

17h25 – Keynote Speaker: Eli Talmor,

Faculty Member of London Business

School and Founding Chairman of

Coller Institute of Private Equity

17h40 – Keynote Speaker: Joe Serface,

Managing Director, Brightman

Energy, LLC

17h55 – Deck Pitches presentations

(3min/pitch):

Life Sciences

BSIm2, Cardiocare, Cerebro-AP,

HybPAT, RD-Fixer

Sustainable Energy

& Transportation Systems

I2d, Retrosim, Scootzz, Unplugg, Veniam

IT & Web

Blastboard, Faces.in, Fidesys,

GoClapp, LikeHack

Consumer Products & Services

D-Orbit, Educed, PetMyPet,

TradeDare, YouBeQ

19h10 – Keynote Speaker: João Fernandes,

Coordinator,+E+IProgram

19h25 – Finalists and Honorable Mentions

announcement–JoséFurtado,

Member of the Board, Caixa Capital

19h40 – Closing speech by Miguel Seabra,

President, Fundação para a Ciência

e a Tecnologia

19h55 – Cocktail and networking event

–PosterSession

21h00 – Ceremony ends

4/5

Building global innovators3rd Edition Semi-Finalists

Semi-finalists

Track 1: Life Sciences

BSim2 (Portugal)–Bio-and

chemoinformatics for bio-active products

and services development.

Cardiocare (Brazil)–Cardiovascular

multifunctional device for health assisted

living and real-time monitoring.

Cerebro-AP (Portugal)–CardiacDigital

sound processing diagnosis for

real-time recognition and diagnosis

of cerebrovascular accidents.

HYBPAT (Portugal) - An hybrid Modeling

Software Solution for Process Analytical

Technology in Pharma

RD Fixer (Portugal)–Highperformance

visualization system to guide endoscopic

surgeries.

Track 2: Sustainable Energy & Transportation

i2d (Portugal) – Intelligent processing

device for mass transit CO2 mitigation.

RetroSim (Portugal) –Highaccuracy

energy modeling environment for

optimizing building renovations.

Scootzz (Portugal) –Customizable,

regenerative electric scooters.

Unplugg (Portugal)–Online,real-time

consumer household energy monitoring

system.

Veniam (Portugal)–Seamlesslow-cost

vehicle-based internet infrastructure

for fleet management.

Track 3: IT & Web

Blastboard (USA)–Incentivizedsocial

search website.

Faces.in (Portugal) –Globalsocial

discovery and geo-location service

for all mobile phones

Fidesys (Russia)–Cloud-based,PaaS,

hybrid Computer Aided Engineering

software for high-end strain analysis.

GoClapp (Portugal)–Pay-per-attention,

crowd-sourced app store for fast and viral

adoption of mobile apps.

LikeHack (Russia) –Frictionless

organization and storage platform of

relevant and high value social media

content.

Track 4: Consumer Products& Services

BePetly (Spain)–Online,crowd-sourced

community marketplace for pet care.

D-Orbit (Italy) –Intelligentpropulsive

devices for sustainable satellite end-of-life.

Educed (Portugal)–B2Bvalidationtoolfor

critical applications and early stage design

validation.

Trade Dare (Portugal) –B2B,e-commerce

analytics service (PaaS).

YouBeQ (Portugal) - Hybrid Reality

Platform for avatar-representation and

interaction.

6/7


12/13


Building global innovators Keynote Speakers

Eli Talmor, Faculty Member of London

Business School and Founding Chairman

of Coller Institute of Private Equity

Faculty Member and Professor at London

Business School and founding Chairman

of its Coller Institute of Private Equity. He

was previously a professor of finance at the

University of California (UCLA and Irvine),

Tel Aviv University and the Wharton

School (University of Pennsylvania). He

holds a Ph.D. from the University

of North Carolina at Chapel Hill.

Professor Talmor is the co-author

of International Private Equity,

broadly considered to be the

reference book on the private

equity industry. He is frequently

invited to deliver keynote

speeches to business executives

worldwide and interviews to

international television networks

and newspapers. In recent years he has

been asked by the UK Parliament to provide

a leading testimony at its high-profile

hearings on private equity and to advise

the UK Prime Ministerial office. Professor

Talmor served on the Board of Governors of

London Business School and the advisory

board of the African Venture Capital

Association. Business-wise, he is a serial

entrepreneur; notably a 4 year turnaround

of a NASDAQ software company driving the

sharepricefrom$3.25to$52whensoldto

BMC Software. He later co-founded SunRay

Renewable Energy, which was acquired

in2010toformoneofEurope’slargest

venture exits of that year.

João Fernandes, Coordinator,

+E+I Program

João Fernandes is the head coordinator

for the Entrepreneruship and Innovation

ProgramofthePortugueseGovernment,+E+I.

João is a PharmD and has a strong

marketing background with a demonstrable

trackrecordspanning20yearsinthe

venture capital, pharmaceutical among

otherindustrysectors.Beforejoining

InovCapital he held several

management positions in pharma

companies. He is renowned for his

high level of cultural awareness

and the ability to build, manage and

motivate remote, multi-disciplinary

teams across Europe. João has

aMajorinMarketingfromthe

Portuguese Catholic University

and is currently collaborating in

the PhD on Bioengineering from

the MIT-Portugal Program.

Joe Serface, Managing Director,

Brightman Energy, LLC

started his career in the Texas energy

and policy arena, made a round-trip of

the leading technology and cleantech

communities including Boston, Silicon

Valley and Colorado. In the process, he

became one of the early cleantech voices,

investors, community-builders, and

policy-supporters. Over the past 12 years,

Joelhascreated/fundedmore

than20cleantechcompanies,non-

-profits, and policy organizations.

Most recently, Joel served as the

first Entrepreneur in Residence

at the National Renewable Energy

Laboratory with venture capital

firm Kleiner Perkins Caufield

& Buyers. Joel previously headed

renewable energy efforts at the

Austin Clean Energy Incubator,

Eastman Ventures, and Sierra Ventures.

Joel is currently focused on building

start-ups, advising companies, and

supporting policies that will massively

scale energy efficiently and renewable

energy deployment. His personal passions

are helping close the energy financing

and philosophical gaps between Silicon

Valley and Texas and creating scalable

social networking tools. Joel serves on

the board of the Clean Economy Network

and on advisory committees for the U.S.

Department of Energy, among others.

Joel received MBA from the MIT Sloan

School of Management.

Miguel Seabra, President, Fundação para

a Ciência e a Tecnologia

Miguel Seabra, MD, PhD, is President of

the Portuguese national funding agency

for scientific research and development.

Before taking up his current role, Miguel

Seabra was director of the Centre for

Chronic Diseases at the Medical School

of the Universidade Nova de Lisboa.

He retains Full Professorship at the same

university, where he coordinates

teaching and research in Cellular

and Molecular Medicine. Miguel

Seabra is a leading researcher in

the field of membrane trafficking

anddisease,withover100papers

published in international scientific

journals.Hestartedhiscareer

with a degree in Medicine from

the Universidade Nova de Lisboa

Medical School and a PhD in

Biochemistry and Molecular Biology, from

Southwestern Medical Center, University of

Texas, where he was Associate Professor.

He then moved to the Biomedical Science

Division of Imperial College Medical School

where he became Full Professor and head

ofunit.HejoinedInstitutoGulbenkian

de Ciência as Principal Investigator and

then was director of the Gulbenkian PhD

Programme in Biomedicine. He is on the

editorial boards of several scientific

journalsandisaontheScientificAdvisory

Boards of several research centers and

faculties in Portugal.


a chieving success in today’s globalized economy is not an easy task. Bringing

together complimentary skills, in technology, organization, marketing, sales and management and legal are some of the necessary but not sufficient conditions for achieving success. Today’s tech entrepreneurs face tough competition and every second on time to market counts. But such resources are typically beyond the reach of an early stage, sometimes inexperienced, bootstrapped start-ups or even more critical, for those entrepreneurs wanting to launch a venture. So there’s a catch 22 here. That’s where Building Global Innovators makes all the diffe-rence, between failure or success. With this goal in mind, in 2010welaunchedagloballyuniquely designed initiative aimingtodojustthat:creatingthe adequate conditions for fostering successful new tech-based start-ups or accelerating the ambitions of recently incorporated ones (under5yearsold),CaixaGeralde Depósitos via theCaixa Empreender+Awards-supportsthe Building Global Innovators initiative by providing yearly upto1M€infinancialawardsto4outofthe20selectedteams.In fact, from our 2 previous editions,50%ofthe40semi-finalists teams have succeeded in raising funding to support their ventures' development. Our mission? To facilitate and encourage a model of entrepreneurial value creation in a globalized marketplace. How does our model produce incredible results?Simple. We build on over

20yearsofaccumulatedexperience in one of the world’s most vibrant ecosystems for technology start-ups: Boston and MIT. We are an hybrid between Venture Capital and tech world famous, now going forit’s23rdedition,MIT$100kBusiness Plan Competition.

Nowonderwhyover40%ofour submissions came from outside Portugal. About half of our submissions are already incorporated start-ups,andabout10%fromothercompetitions (Ideas, Business Plans). The other crucial componentarecompetition’s5main stages:

› e-TeamsI,IIandIII–Theseareintensiveupto5daysession on go-to-market planning marketing and communication strategies

(I) and technology focusing (II & III) . These are based around lectures and practical hands-on work on individual projects.Teamsdevelopagood awareness on the critical aspects on succeeding in the market based on their unique capabilities. The courses are lectured by specialists of both institutions MIT and ISCTE-IUL and it takes place in Lisbon (I & II) and at MIT, Boston (III).

› Catalyst Program - Volunteers from the global business community are central to achieving the mission of helping

the component of the start-up’s achieve market impact. The Catalyst program aims to guide the Competition

selectees and accelerate the process of commercialization of their technologies for the benefit of public stakeholders. The Catalyst participants are a highly vetted group of individuals with experience in the issues surrounding innovation, technology commercialization, entrepreneurship and legal aspects of the business ventures themselves. Catalysts provide individual contribution to venture selectees for the award period (up to 9-months) and do not represent any company interests in their role as Catalysts.

› Venturephase–Thisphaseinitiates after the Grand Finale and it is directed to the Grand Finalist, remainder track finalists

and honorable mentions. They will benefit from in-kind support from the organizers valuedatanextra€1M,including a number of focused bootcamps and investor’s pitches, not to mention the weekly support from individually assigned mentors and highly-vetted catalysts. This phase is expected to last 1 to 3 years and never more than5years.Thegoalisthatduring this period of intensive work, start-ups founders are able to validate their value propositions with global reach customers (B2B) and be able to prove that they are able to scale them up with the help of international investment rounds (VC Series A and B).

Our mission? To facilitate and encourage a model of entrepreneurial value creation in a globalized marketplace.

14-

15Building global innovators

International Competition promotesentrepreneurship and innovation from and to Portugal

Since2010,the3editionsoftheBuilding

Global Innovators Venture Competition

received 287 applications from technology

basedbusinessespropositions(56.8%)and

alreadyincorporatedstart-upslessthan5

yearsold(43,2%).Thesecomefromalarge

array emerging from an international

community of students, researchers and

professionals in a number of specialist

fields.

For Luís Reto, ISCTE-IUL’s Dean, “we

believe that ISCTE-IUL, Caixa Capital and

MIT-Portugal can be pioneers, creating

the foundations of an international

technological hub in Portugal, from this

majorentrepreneurship&innovation

competition, international in scope.

Throughthefirsteditionin2010,we

validated the model. Since then we met

highly entrepreneurial, qualified people,

with the right ambition, as showed by

the results attained thus far. In the

current scenario of tough financial and

economic constraints that we are facing,

this initiative unleashes knowledge-

driven innovation that converts into

economic value such as highly qualified

jobs,welfareandcompetitivenessforour

nations. We now have the challenge of

scaling even more this initiative beyond

our horizons that was only possible due

to the combined work of all stakeholders

involved”. The competition is part of

the ongoing cooperation established

in2010betweentheISCTE-IUL,Caixa

Capital and the MIT-Portugal Program, in

cooperation with MIT’s Deshpande Center

for Technological Innovation and the Trust

Center for MIT Entrepreneurship, to create

a knowledge based ecosystem in Portugal

and facilitate tech-based start-ups growth

andglobalreach.TheCaixaEmpreender+

Awardswerecreatedtorewardprojects

of a technological nature, originating

in any country (www.mitportugal-iei.

org/images/stories/RulesRegulations.

pdf) driven by teams with hands-on

approaches, innovative business models

and business skills with an eye to potential

global markets. Annually, 4 start-ups are

financiallysupportedwithupto€1million.

This competition is part of the MIT-

Portugal and UTEN international program

partnerships.

Since its founding in 2010, 60 projects

were supported by the Organization, 8

of them had access to over € 1 Million in

financial support of Caixa Empreender+

Awards and 20 raised nearly €10 Million

in funding from Venture capital and public

sources. These projects have also been

provided with support, direction and

connections to the outside ecosystem.

The following are some of the companies

resulting from Building Global Innovators

first and second editions (2010 & 2011

Alumni). Together these companies

created 100+ jobs, employing over 1

50 people.

Bearinginmindthattheseresults/metrics

were achieved in under two years of

activity, this represents a multiplier effect

of over 7x when considering total program

cost (including awards) compared to

funding raised. If we take away the Awards,

this multiplier effect becomes considerably

higher,nearly15x.

Building global innovators Key metrics

The Organization relies on the generosity

of partners and supporters to help us

carry out our mission of Building Global

Innovators.

A number of activities are made possible

only through continuous contribution of

our partners, supporters and volunteers,

including bootcamps - e-Teams I, e-Teams

II @ ISCTE-IUL but also e-Teams III

at MIT, Boston, as well as a number of

networking events like the track finals and

Grand Finale. We also support an alumni

and catalyst’s network, among other

promotional activities.

Donors who support the initiative benefit

beyond the purely philanthropic. They can

directly experience the excitement of this

unique international endeavor, interact

and engage with Founders, participate in

discussions with entrepreneurs and learn

about revolutionary technologies and

promising companies at the earliest stages

of their development, fostering strong

chemistry and bonds. Corporate members

are engaged with the Ventures and provide

feedback on their strategies and market

opportunities.

If you would like to discuss opportunities to

support us and help us improving

the innovative and entrepreneurial

ecosystem we are building please contact

Gonçalo Amorim - Program Director

at [email protected]

or+351217903951.

To give online please visit

www.mitportugal-iei.org/index.php/en/

donate

Your generosity will allows us to continue

with our mission.

We are grateful for your help!

Donate to Building global innovators

16/17


1st Ed. Alumni*

1. Cell2B

2. Plux

3. Regenear

4. Treat U

5.Move

6.Emove

7. PV Solutions

8. Waynergy

9. Abban

10.AroundKnowledge

11. Ecoticket

12. Fytozimus

13. Weadapt

2nd Ed. Alumni*

14. AlphaSIP

15.Blueworks

16.Cyclotech

17. MediaOmics

18. Metablue

19. Actual Sun

20.isGreenII

21. SunOK

22. Watt Intelligent

Solutions

*Active

23. All-Desk

24. eu-PA

25.NetMust

26.OneCare

27. Hole19

28. Law4All

29. Musikki

30.Selftech

31. wi-GO

Organisation Award Partner

Funfing raised by semi-finalist’s & sources 1st Ed. % 2nd Ed. % 1st+2nd Eds. %

1.VC/AngelFinancing2.Awards/Grants

3.292.000�2.615.863�

55,7%44,3%

815,429�1.381.967�

37,1%62,9%

4.107.429�3.997.830�

50,7%49,3%

Subtotal (1+2) 5.907.863 ¤ 100,0% 2.197.396 ¤ 100,0% 8.105.259 ¤ 100,0%

3. Secured funding if Milestones met 1.151.000� 19,5% 400.000� 18,2% 1.551.000� 19,1%

Total (1+2+3) 7.058.863 ¤ 2.597.396 ¤ 9.656.259 ¤

Exhibit 1: Funding secured by 1st and 2nd editions of Building Global Innovators semi-finalists.


we are deeply indebted to

Additional Information

ISCTE-IUL MIT - Portugal Venture Competition website


Competition rules

www.mitportugal-iei.org/index.php/us/rules-and-

regulations

Portugal, ISCTE-IUL

Gonçalo Amorim, Program Director

[email protected]

Phone:+351217903951

Catarina Madeira, Operations Coordinator

[email protected]

Phone:+351217903951

USA, MIT

Luís Barros, Program Manager

[email protected]

Phone:+16173248207

18/19

Taking GlobalpreneursBeyond the Business Plan

Documents

Building Global Innovators