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Partnering with Universities for Deal FlowHow working with your local university can
lead you to the next Google!
Welcome!
January 14, 2015
•Use chat to submit questions
• Yes, you’ll get the slides
•We’re recorded, so come back and listen again
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Mission: Fuel the success of angel groups and accredited individuals active in the early-stage landscape
• World’s largest trade group for angel investorso 220+ angel groups
o 12,000 accredited investors
o Voice of accredited individuals, portals, and family offices
• 50 US states + Canada
• Research/ education partner
Member Groups & Accredited Platforms
New Dominion Angels
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ACA Partners
Our Moderator
Jamie Rhodes
Founder, Alliance of Texas Angel Networks
Founder, Central Texas Angel Network
Board member, Angel Capital Association
CEO, National NanoMaterials
Add Photo Here
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Today’s Presenters
John Hanak, J.D.
Purdue Foundry Entrepreneur in Residence
Founder of the Purdue Angel Investment Network
NBIA 1st Vice Chair, Board Member
W. Lafayette, IN
Stephen F. Flaim, Ph.D., F.A.C.C., F.A.H.A.
Director, Angel Capital Association
Emeritus Chair, Tech Coast Angels
San Diego, CA
David VerrillBoard Chair, Angel Capital Association
Founder/Managing Director, Hub Investment Group, LLC
Boston, MA
Differing Frames of Reference
• Faculty are rewarded for their research, patents and papers. They can see results from one experiment and claim “problem solved”. Basic research is often conducted in the fashion of “here is funding, let us know when/if you discover something”.
• Universities own Intellectual Property. Their goal, working through the technology transfer office, is to build revenue for the university. They are often driven by the philosophy “all IP could be the next Gatorade”
• Angels are looking to invest in a fully formed startup that includes an entrepreneurial team with a business plan and a well defined market and product. Very few are interested in funding a business that is still trying to define its product. Often the quality of the management team is more important to investors than the quality of the technology.
• Startup entrepreneurs are interested in building companies with innovations that can scale into large markets. In their vernacular a solved problem implies a solution that is defined, repeatable and scalable.
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John M. Hanak, J.D.
Entrepreneur in ResidenceVenture Funding Relations
Purdue Foundry
Former Statewide Director Purdue Tech Centers
P3 Alliance Angel Network
NBIA Board Member1st Vice Chair
Helping the Purdue Community move
ideas to the marketplace through
new ventures
Lessons Learned:• Ideation – Articulate the Value• Founder to Entrepreneur/Team• Business Talent Challenge• Funding Challenge
• And…Put the Entrepreneur at the Center...
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• Purdue Foundry Goals & Metrics
• Move ideas and innovations to the marketplace
• Capitalize on Purdue’s vast talent and innovation capabilities
• Produce happier, longer and healthier lives through innovation
• Produce high quality jobs for our community and state
FOUNDRY GOALS FOUNDRY METRICS
July 10, 2014Purdue announces record-breaking
year in commercialization!
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University Angel Investing Model
Stephen F. Flaim TEAM
Working with Universities
• University technology is innovation in its purest form
• Academics have to prove a technology only once to publish
• Faculty rarely make for good CEOs
• One excellent way to wrap up the technology is to hire the students who “worked the bench” into the company
David Verrill
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Anatomy of a Technology Focused New Venture
IP Rights
Technology
Jamie Rhodes
Anatomy of a Technology Focused New Venture
IP Rights
Technology
There are
more fundamental
issues than technology and IP
Success = Getting this Part Right
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Comprehensive Concept of New Venture
IP Rights
Technology
Market Engagement
Team
$$$ Motivation vision
Right…
IP Rights
Technology
Market Engagement
Team
Motivation
These needs change depending on the team and how they develop and execute their market engagement strategy!
This is developed by the team and continually
adjusted and adapted to market conditions
Entrepreneur needed -Team is built by the entrepreneur
Must be embodied by
the team
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Thank you!
Audience Questions
Webinar programs archived at:
www.angelcapitalassociation.org/events/webinars/
Additional Resources
Marianne Hudson
Executive Director
Angel Capital Association
Christopher Mirabile
Managing Director, Launchpad;
Vice Chair, Angel Capital
Association
http://www.angelcapitalassociation.org
/news-forbes/http://www.angelcapitalassociation.org/
news-inc/
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Upcoming EventsWebinar, January 28, 2015 at Noon Eastern
Betting on the Right Jockey - The Number One Indicator of Investment Success
10th Annual ACA Summit, April 14 – 16, 2015 in San DiegoRegister now for early bird discount: http://www.angelcapitalassociation.org/2015summit/