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How to Start a Startup at NYU
Frank RimalovskiExecutive Director, Entrepreneurial InstituteManaging Director, Innovation Venture FundAdjunct Faculty, Tandon School of EngineeringAugust 2016
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Startup Showcase
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https://youtu.be/jVoIQ0TxsmA
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Made in NYC
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75% of startups fail to return investors capitalShikhar GhoshHarvard Business School
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So why do so many startups
fail?
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“More startups fail from a lack
of customers than from a
failure of product
development.”
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Top 12 Reasons Startups Fail
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Top 12 Reasons Startups Fail
42% cite lackof marketneed
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Successful Startupsu Have really unique ideas
u Operate in “stealth mode”
u Write bulletproof business plans
u Have a first mover advantage
u Raise a lot of money
u “Get big quick” (worry about revenue later)
u Fund ➨ Build ➨ Customers
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@NYUEntrepreneur
Successful Startupsu Have really unique ideas
u Operate in “stealth mode”
u Write bulletproof business plans
u Have a first mover advantage
u Raise a lot of money
u “Get big quick” (worry about revenue later)
u Fund ➨ Build ➨ Customers
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Helping startups start up
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1. Teams
Secrets of Startup Success
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2. Get out of the building
Secrets of Startup Success
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3. Experiment & build iteratively
Secrets of Startup Success
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The PlaybookIndividual Idea Team Startup Business
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Entrepreneurs Festival
Founders Unplugged
Speakers& Events
Website, Blog& Newsletters
Entrepreneurs Network Clubs
Summer Launchpad
Innovation Venture Fund
Future Lab Incubators
Programs
Blackstone LaunchPadCoaching
Leslie eLabSpaces
E-TeamGrants
Ignite Fellowships
Startup Competitions
I-Corps
HealthcareMakerthon
LLP Classes
Startup Bootcamps
PrototypingFund
Startup School
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Newsletters
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Insert Festival Video
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Insert Festival Video
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@NYUEntrepreneur22Confidential
Startup Job Fairs
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Startup School
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Startup SchoolTuesdays, 4:00-5:30pmu Sep 20: Getting to Product Market Fit Part 1u Sep 27: Getting to Product Market Fit Part 2
u Oct 4: Sizing Up Your Market & Competition
u Oct 11: Testing Your MVPs & Prototypesu Oct 18: Acquiring Customers
u Oct 25: Building & Growing Your Team
u Nov 1: When & How to Raise Venture Capital
u Nov 8: Measuring & Monitoring Metrics that Matteru Nov 15: Legal Essentials for Startup Founders
u Nov 29: Managing your Intellectual Property
u Dec 6: Storytelling & Pitching to Investors
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@NYUEntrepreneur#nyuef
Lean Launchpadwith Steve Blank
August 24-28th
In the Classroom
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Entrepreneurs Network
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NYUScientificEntrepreneursSociety
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Healthcare Makerthon
@NYUEntrepreneurBlackstone LaunchPad
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Blackstone LaunchPad Coaches
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Ali HeronTwo Sigma
Amy RosenPPSG
Erica GruenxFoodNetwork
Eric MartinezVSA
Glen de VriesMedidata
Glen SenkxUrban Outfitters
Greg SlamowitzxAmbrose
Harvey HomanxUrovalve
Jim KelliherActifio
Jay KranzlerPfizer
Jeff DachisOneDrop
Jen van der MeerReason Street
Joanna SchneierCognotion
Mark PinneyMagnetic
Rob FassinoxThe Knot/XO
Ryan JacobyMACHINE
Vince PassioneLendKey
Vivek RagavanSiaras
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Blackstone LaunchPad Coaches
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Andrew CohenBrainscape
Brendan DickensonCanaan Partners
Brian AeoehKEC Ventures
Brittany GorevicLattice Ventures
David AronoffFlybridge
Giff ConstablexNeo
Jamyn EdisDash Labs
John EltonGreycroft Partners
Katie SheaxHomeJoy
Kim ArmorComcast Ventures
Noah DinkinFanBridge
Owen DavisAlpha Prime
Rob GrossbergTreSensa
Sachin KamdarParsely
Sutian DongFemale Founders
Tom WeingartenGoogle
Vlad VuckicevicMeural
Zack SchildhornLux Capital
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Ignite Fellowships
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Startup Competitions
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Summer Launchpad
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Startup Funding Lifecycle
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①Discovery
②Validation
③Customer Creation
④Company Building
Test assumptions aboutcustomer needs/problem & develop MVP
SeekValidation that people are interested in your solution
Begins to builddemand & improve efficiency of customer acquisition
Drive growth aggressively & execute business model
Invention & ideation
Grants Competitions Founders + Credit cards
Angels Seed funds
Venturecapitalfunds
LeasingFactoring
Vendor financePrivate equityPublic markets
Valuation*
You are here
GrantsCrowdfounding
CustomersSBIR/STTR + Accelerators
Friends & family
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Prototyping Fund
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NYU Green Grants
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Innovation Venture Fund
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Tandon MakerSpace
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Future Labs Incubators
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Successful Startupsu Get out of the building to (in)validate
assumptions before building
u Are focused on serving a niche
u Build multiple MVPs to learn
u Validate revenue model early
u PMF before raising venture capital
u Customers ➨ Build ➨ Fund
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@NYUEntrepreneur
Successful Startupsu Get out of the building to (in)validate
assumptions before building
u Are focused on serving a niche
u Build multiple MVPs to learn
u Validate revenue model early
u PMF before raising venture capital
u Customers ➨ Build ➨ Fund
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Get Started!
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Questions?
[email protected]@nyuentrepreneurentrepreneur.nyu.edu16 Washington Place
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Helping startups start up
