Kit Needham - CMU
Entrepreneurship 101Kit Needham
Not all Startups are the SameSmall Business/Life-StyleØ Known businessexamples to learn fromØ Funded by banks orstockholdersØ Business planØ Sustain a particularlevel of incomeØ Provide dividends orincreased stock priceØ Ø Ø Ø Ø Investment/ExitUntested businessmodel with a highdegree of uncertaintyFunded by investors(angels and VCs)Business modelGrow big quickly andsell (exit)Provide a 5x-10x returnto the investors
The Players Incubators Accelerators TBEDs
Incubators Where the commercialization plan‘hatches’– Mentoring/coaching/guidance– Access to materials– Introductions to advisors, domain expertise– May provide space– May provide micro-grants Goal – get initial seed funding
Pittsburgh: A Community of InnovationFOR INVESTMENT/EXIT START-UPSIncubatorsleveraging billion research andstudent SIDEAFOUNDRYINNOVATI0NINSTITUTEEarly GrowthRapid GrowthEXIT
Accelerators Fixed term, cohort-based programs– Provide mentorship and educationalcomponents– Highly competitive to get in– Get seed investment ( 20k- 50k) in exchangefor equity Goal – “Demo Day” to attract follow-on investment Examples: AlphaLab/Gear, Idea Foundry, TechStars, Y Combinator, DreamIt Ventures, etc
Pittsburgh: A Community of InnovationStartupOLYMPUSIDEAINNOVATI0NEarly GrowthAlphaLabSOFTWAREAlphaLab ng billion research andstudent innovationUNIVERSITIESIdeaDevelopmentHARDWARE &ROBOTICSIdea FoundryHEALTHCARE &LIFE SCIENCESENTERTAINMENT &EDUCATIONSOC. ENTERPRISESWATERTHRILLMILLDemandCoRapid GrowthEXIT
Pittsburgh: A Community of InnovationStartupOLYMPUSIDEAINNOVATI0NEarly GrowthFOUNDRYINSTITUTERapid GrowthAlphaLabINNOVATIONWORKSAlphaLab leveraging billion research andstudent innovationUNIVERSITIESIdeaDevelopmentHARDWARE &ROBOTICSIdea FoundryHEALTHCARE &LIFE SCIENCESENTERTAINMENT &EDUCATIONSOC. BURGHLIFE SCIENCES GREENHOUSEEXIT
MONEY/FUNDINGInvestors INVESTORS– FRIENDS & FAMILY (& FOOLS)– CROWDFUNDING– ANGELS and ANGEL GROUPS– SUPER ANGELS– VENTURE CAPITALISTS
Angels vs VCsØ Ø Ø Ø AngelsHigh net-worthindividuals i.e. theirown money)Tend to invest locallyTend to invest early( 25k - 50k)Often form AngelGroups to research andco-invest in deals (e.g.BlueTree)Venture CapitalistsØ Create a fund usingother people’s moneyØ Seek deals fromeverywhere and oftenrequire them to relocatenearby
Angels: Majority of Startup Funding 12.4B 9.9B 9.8B 9.5B 8.4B 1.0B 0.45B* 0.22B**es matedAngel Investors 2011 22.5B 66,000 deals42% seed/startup55% early stage 318,500 individualsVenture Capital 2011 29B 3,750 deals3.5% seed/startup68% later/expansion capitalTotal 791 firms (not all active)Sources: UNH Center for Venture Research, PwC MoneyTree and NVCA
MONEY/FUNDINGTermsTerms-Seed FundingSeries A, B, etc.ValuationConvertible Debt10x returnExit (Sale or IPO – Initial Public Offering)
People Steve Blank – 4 Steps to Epiphany“Get out of the building” Eric Reis – The Lean Startup– MVP (Minimal Viable Product)– Feedback LoopBuildLearnMeasure
People and Terms Steve Blank – “Get out of the building” Eric Reis – “The Lean Startup” Business Model Canvas
Pittsburgh: A Community of InnovationFunding for investment/Exit StartupsIdeaDevelopmentANGELSBlueTree Allied AngelsKeiretsu ForumFunds startupsFUNDING*FOUNDATIONSFunds startups*FEDERALGOVERNMENTFunds researchFEDERAL GOVTSBIRS/STTRsFunds startupsVCs: Adams, Birchmere,PEP, Draper, etc.Funds startupsSTATE: DCEDFunds IW and subs, PLSGCROWDFUNDINGPUBLICSECTOR;Rapid GrowthEarly GrowthStartupPRIVATESECTORLocal: URAFunds StartupsEXIT
Pittsburgh: A Community of InnovationLifeStyle and Investment/Exit StartupsIdeaDevelopmentStartupEarly GrowthRapid GrowthChatham’s Center for Women’s Entrepreneurship (CWE)(CWESmall Business Development Centers- Pitt; DuquesneInnovation Practice Institute –Pitt LawSchool (Start Smart) with CMUEducationMaturity
Pittsburgh: A Community of InnovationLifeStyle and Investment/Exit StartupsIdeaDevelopmentStartupEarly GrowthRapid GrowthChatham’s Center for Women’s Entrepreneurship (CWE)(CWESmall Business Development Centers- Pitt; DuquesneInnovation Practice Institute –Pitt LawSchool (Start Smart) with CMUSCOREIEE - PittCWEPowerlinkEducationMentoringMaturity
Pittsburgh: A Community of InnovationLifeStyle and Investment/Exit StartupsIdeaDevelopmentStartupRapid GrowthEarly GrowthChatham’s Center for Women’s Entrepreneurship (CWE)(CWESmall Business Development Centers- Pitt; DuquesneInnovation Practice Institute –Pitt LawSchool (Start Smart) with CMUSCOREIEE - PittCWEPowerlinkRiverside Center for InnovationRevv I, II, III?Startup TownThe Beauty ShopEducationMentoringSpace/SupportServicesFormer Paramont StudioMaturity
Pittsburgh: A Community of InnovationLifeStyle and Investment/Exit StartupsIdeaDevelopmentStartupRapid GrowthEarly GrowthChatham’s Center for Women’s Entrepreneurship (CWE)(CWESmall Business Development Centers- Pitt; DuquesneInnovation Practice Institute –Pitt LawSchool (Start Smart) with CMUSCOREIEE - PittCWEPowerlinkRiverside Center for InnovationRevv I, II, III?Startup TownFormer Paramont StudioThe Beauty ShopPgh TechCouncilTech esMaturity
Q&Akit@cs.cmu.edu
Pittsburgh: A Community of InnovationFOR INVESTMENT/EXIT TI0NEarly GrowthRapid GrowthAlphaLabSOFTWAREAlphaLab ng billion research andstudent innovationUNIVERSITIESIdeaDevelopmentHARDWARE &ROBOTICSIdea FoundryINNOVATIONWORKSITMEDICALDEVICESHEALTHCARE &LIFE SCIENCESENTERTAINMENT &EDUCATIONSOC. ENTERPRISESWATERTHRILLMILLTHINKTIVPGH LIFE SCIENCES ee Allied AngelsKeiretsu ForumVCs: Adams, PEP,Birchmere, Draper,EXIT
Chatham’s Center for Women’s Entrepreneurship (CWE) (CWE Small Business Development Centers- Pitt; Duquesne Innovation Practice Institute –Pitt Law School (Start Smart) with CMU Education . Pittsburgh: A Community of Innovation LifeStyle and Investment/Exit Startups Idea
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CMU-CS QTR-120 CMU-CS-13-119 School of Computer Science Carnegie Mellon University Pittsburgh, PA 15213 Carnegie Mellon University, Qatar campus. The author can be reached at afahim@qatar.cmu.edu or amtibaa@cmu.edu or kharras@cs.cmu.edu. Abstract It is common practice for mobile devices to o oad computationally heavy tasks o to a cloud, which has
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Your path to CMU-Q 2 Why study at CMU-Q? 3 Academics at a glance 4 Biological Sciences 5 Business Administration 6 Computational Biology 7 Computer Science 8 Information Systems 9 Where do our graduates work? 10 Clubs and activities 11 What can you do at CMU-Q? 12 Five degree programs. A world of opportunities. Your university education starts .
Recovering Temporally Rewiring Networks: A Model-based Approach Fan Guo fanguo@cs.cmu.edu Steve Hanneke shanneke@cs.cmu.edu Wenjie Fu wenjief@cs.cmu.edu Eric P. Xing epxing@cs.cmu.edu School of Computer Science, Carnegie Mellon University, 5000 Forbes Avenue, Pittsburgh, PA 15213 USA
Fig. 2: Full-Scale CMU walls set 1 and 2. 2.2 Full-Scale CMU Wall Construction The full-scale CMU walls were constructed in a reinforced concrete frame to replicate a simple, unreinforced, CMU infill wall. Two wall sizes were used in the full-scale experimental series. The first set of walls, nominally 174-in. wide by 111-in. tall, were 14 .
Anatomy and physiology for microblading techniques Unit reference number: L/615/6166 Level: 4 Guided Learning (GL) hours: 20 Overview The aim of this unit is to provide learners with the necessary underpinning knowledge of relevant human anatomy and physiology to enable them to perform effective and safe microblading services for eyebrow treatments. Learners will develop an understanding of .
