Jim Chung, Assoc. VP Innovation & Entrepreneurship December 3, 2015
Background
Jim Chung Assoc. VP, Innovation & Entrepreneurship, GW Co-Principal Investigator, NSF DC I-Corps Node Former Director, VentureAccelerator, UMD Corporate M&A, Private Equity, Venture Capital, Angel Investor jimchung@gwu.edu 3
Fostering Entrepreneurship
Why Entrepreneurship? Making a Difference Societal Economic Technical Creating a Vision Fun/Thrill Independence Challenge Ensuring Own Success Expertise Motivation Personal Satisfaction Fame Financial Rewards BYOB Create Job(s) 72% of Americans want to be entrepreneurs; 40% of Fortune 500 CEOs love what they do, while 69% of Entrepreneurs love what they do 5
You Can Do It Recent GW Student Startups in the Press
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Flagship Programs
GWupstart http://serve.gwu.edu/gwupstart-programs
New Venture Competition https://newventure.gwu.edu/
NSF DC I-Corps Program 7-week national and 2-week local courses available http://www.dcicorps.org/ 15
Mentorship
` http://www.gwertmentors.org/
http://www.acceleratedc.org/
Mentors-in-Residence (pending) Daily Office Hours Experienced Entrepreneurs Broad Industry Specializations
Education
Entrepreneurship Courses http://entrepreneurship.research.gwu.edu/courses 21
Intellectual Property
DC Community
DC Startup Community DC Tech Meetup Tech Cocktail 25
Incubators & Maker Spaces AdvantEdge Metro Offices TechShop Uber Offices WeWork 26
Pitching
Pitch George
Dolphin Tank
Not Ready?
Working for a Startup Responsibility Advancement Apprenticeship Job Growth Diversity Skills: Content, Design Initiative, Critical Thinking 31
Startup Career Fair and Showcase March 3, 2016 32
Student Clubs GW Startups GW-MBA Entrepreneurship Club GW Tech Collective GW VC and Private Equity Club TAMID
Stay Informed: GWInnovate www.gwu.edu/entrepreneurship Weekly Newsletter Facebook and Twitter: GWInnovate iphone app: GW Innovate Sign up for Office Hours
Melanie Fedri upstart@gwu.edu Runs GWupstart Social Innovation Lab, based in the Nashman Center Teaches courses and workshops Directs the Social Venture Prize Track of the GW New Venture Competition. PhD Candidate in Higher Education
GWupstart Opportunities For students starting a social entrepreneurial venture For students working on social entrepreneurial projects in partnership with local community groups For students starting a social entrepreneurial venture in a developing country GW New Venture Competition Public Service Grant Commission GWupstart D-Prize Poverty Solutions Award
GWupstart Opportunities For students making deep connections between their academics and their local social entrepreneurial projects For students making a CGIU commitment to action Steven and Diane Robinson Knapp Fellowship for Entrepreneurial Service- Learning Commitment Maker Challenge
go.gwu.edu/upstart
Lex McCusker, Director GW NVC Former Dean of School of Business at Stevens Institute of Technology in Hoboken, NJ 23 Years at AT&T & Bell Labs in Software Development, Professional Services and Tech Licensing Mentor, Advisor, Angel Investor lexmccusker@gwu.edu 973.896.5754 45
GW New Venture Competition is Fifth Largest Collegiate Entrepreneurship Contest in US $112,500 in cash and $95,000 in-kind prizes awarded in 2015 Support for Current and Aspiring Entrepreneurs Workshops, coaching, mentors, networking, other resources and events Commercial and Social Entrepreneurship Tracks Educational Experience Skills for Life Making an idea into a reality that creates value Opportunity and have impact Grow, develop, have fun to Create and Innovate 46
2015 University Sponsors 47
2015 GW NVC School Participation School Number % CCAS 39 22% CPS 6 3% ESIA 19 11% GSEHD 3 2% GWSB 63 36% LAW 5 3% SEAS 18 10% SMHS 13 7% SoN 1 1% SPH 9 5% Total 176 100% 48
Eligibility Participants - Individuals or teams of up to four people. At least 50% of the members of each team are affiliated with GW as a faculty member, currently enrolled GW student, staff member or GW alumnus/ae. At least one member of the team is a current GW student upon entering the competition. Only one entry per team. Each member of the team must be a significant shareholder in the venture. Business - The GW NVC is designed for new businesses. Less than two years old Gross sales of less than $200,000 Have not won any cash prizes in a previous GW New Venture Competition 49
New Venture Competition Submission Calendar Round 1 Round 2 Round 3 Exec Summary, Business Model Canvas, Short Summary, Video Due Date: January 19, 2016 Written Plan, BMC, 20-word Summary 40 Semi Finalists Due Date: March 1, 2016 Pitches to Judges and Public 10 Finalists Date: April 19, 2016 50
Round 1 Submission Executive Summary (max. 1500 words) Business Model Canvas Concise Summary (max. 50 words) Video (optional) 51
CASH PRIZES 1 st Place Overall $35,000 2 nd Place Overall $15,000 3 rd Place Overall $10,000 4 th Place Overall $5,000 Honorable Mention Pool $5,000 Best Undergraduate $10,000 Best Non-Profit Social Venture $7,500 Best For-Profit Social Venture $7,500 Best International Venture $7,500 Best High-Tech Venture $7,500 Best Veteran Venture $5,000 AARP Foundation Older Adult $5,000 Audience Choice Award $5,000 Why Enter? Non-dilutive Grants to the Companies 52
Have Impact! Your thing could change everything! 53
Annette and Rick Scott Corporate Sponsors 54
In-kind Sponsors 55
Support Resources Office Hours Workshops Where Do I Start, Lean Startup GWupstart, Int l Students Mentors Available on Demand Networking Finding Teammates Collaborators CoFounders Pitch Events Student Clubs 56
Office Hours Any Questions on Entrepreneurship Best Way to Connect to Other Resources Mondays, Tuesdays, Wednesdays and Fridays Available via Skype or phone Sign up at http://newventure.gwu.edu/entrepreneur-office-hours 57
Workshops Where Do I Start? GWupstart Series Three Modules on Social Entrepreneurship Lean Startup Video Series LS1 Customer Segments and Value Proposition LS2 Business Model Canvas LS3 Customer Development International Student Startups http://newventure.gwu.edu/training-workshops 58
We will get you a mentor as soon as you want one! http://www.gwertmentors.org/ 59
Join the GW Entrepreneurship Community: Get the GW Innovate Community App http://go.gwu.edu/gwinnovateapp
Pitch Your Venture Idea: GW Dolphin Tank Monday December 7, 2015 https://newventure.gwu.edu/dolphin-tank 6:00 pm Duquès 453
Student Clubs GW Startups (mattbern23@gwu.edu) GWMBA e-club (shakib@gwmail.gwu.edu) GW Tech Collective (http://www.gwtechcollective.org) Compass Fellowship (http://serve.gwu.edu/upstart-mentors-and-partners# The Compass Fellowship) GW Med School Entrepreneurship Club (saggarwal@gwmail.gwu.edu) GW Private Equity and Venture Capital Club (http://studentorgs.gwu.edu/gwpevc) Entrepreneurship and Law Society (momboni@law.gwu.edu) 62
More Information Entrepreneurship.research.gwu.edu NewVenture.gwu.edu 63
On Social Media Follow @GWInnovate on Facebook Twitter YouTube Sign up for the GW Entrepreneurship Newsletter 64
Next Steps/First Steps for You? 65
Thank You! Any Questions??? 66
lexmccusker@gwu.edu newventure.gwu.edu