Startupfest 2013 - Rebooting the world - Michael Baum
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Over the past ten years, all net new jobs have come from young, innovative companies. They're the engines of economic growth powering the twenty-first century. Unfortunately, less than 1% of today's university graduates go on to start a company. Imagine what it would mean for the economy—and for society—if we could double, or even triple, the number of student founders in the coming decade. How are we preparing coming generations to start companies that innovate, create jobs, and revitalize economic growth? Join entrepreneur, investor, and FOUNDER.org creator Michael Baum in his mission to inspire students to chase big ideas and become founders of impactful companies.
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Startupfest 2013 - Rebooting the world - Michael Baum
- 1. Rebooting the World International Startup Festival Montreal 2013
- 3. Software World Wide Web File Sharing Outsourcing Offshoring Supply-chaining Insourcing Informing Wireless Connectivity Fall of Communism
- 4. World economic growth is World Monetary Fund - June 2013 United High Income Japa Euro %growth 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 -‐0.5 -‐1.0 2011 2012 2013 2014 2015
- 5. Youth unemployment is now a global time bomb.
- 7. 54% of US university graduates are jobless or under-
- 8. Innovation is creating 96 97 98 100 101 102 103 105 106 107 Dec ’07 Dec ’12 Monthly Employed Residents (100 =December 2007 Values) San Francisco County +6.7% San Mateo & Santa Clara Counties +4.6% California(1.9%) United States - 2.2% CA State Economic Development Department May 2013 Unemployment (Rates for total population) 0% 2.8% 5.5% 8.3% 11.0% Palo Alto Seattle Austin Santa Clara US EU US Bureau of Labor Statistics
- 9. Nearly all of net jobs in the US since 1980 have been created by companies < 5 years old. “Jobs Created from Business Start-ups in the United States,” Kaufman Foundation, January 2009
- 10. U.S. Census Bureau, Business Dynamics Statistics and Kauffman Foundation -6.0M -4.5M -3.0M -1.5M 0M 1.5M 3.0M 4.5M 6.0M 19771979198119831985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 Entire Economy Startups Without Startups Startups create 66% of US jobs.
- 11. How do we spawn more young innovative companies?
- 12. The stude nt start- Surviving Companies Masters Graduates Founders Startups 900 Bachelors Graduates PhD Graduates 2.73M 273K 9.1K
- 13. Student startup jobs 71,429 142,857 214,286 285,714 357,143 428,571 500,000 3,641 10,92325,487 50,973 89,203 136,990 196,724 265,418 344,417 431,315 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Model Assumptions •Average life span 6 years •10% of companies survive •90% of survivors acquired •10% of survivors IPO 35K jobs per month
- 14. The US economy added 195,000 new jobs in June 2013. 18% of the jobs were created by student startups.
- 15. Support for Schools We provide sponsorship for university run innovation & entrepreneur programs. $100K Competition Our annual competition awards $100K grants to ten winning companies from our partner schools. Founder Skills Acceleration Every $100K founding team participates in our
- 17. $100K Competition February to May 2013 8 Schools 585 Entries 324 Presentations 50 Semi Finalists 10 Final Winners
- 18. How do we decide? 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 Idea People Market Product Competition Model Proof Roadmap Entries Semi Finalists Winners
- 19. Class of 2013
- 21. Daipan Lee, Sophia Cui, Xenia Menzies Crowdsourced legislation Massachusetts Institute of Technology
- 22. Connor Landgraf, Patrick Rogers Digital stethescope
- 24. Vik Thairani, Srinivas Chervirala Intelligent product systems
- 26. Jill Ju, Ben Cooper Infant and toddler wearable technologies Harvard Business School
- 27. Yaopeng Zhou, Mark Albanese Opthamology lab in the cloud
- 28. Jenny Broutin, Kamal Farah Microurban farm appliances Massachusetts Institute of Technology
- 29. Mark Chung, Jonathan Chu, Thomas Chung, Jessica Kinloch Energy sensor networks
- 30. Founder Skills Acceleration A 12 month program designed around the “impact gaps” of our finalist teams. Class of 2013 Announced June 2013 August 2013 November 2013 February 2014 May 2014 Q2 Accelerator Bigger Than Life Q1 Accelerator High Performnance Founding Team. Q3 Accelerator A Player Talent Recruiting & Management Q4 Accelerator Scaling, Fundraising, Building an Ecosystem Monthly Industry Mentor Sessions
- 31. How can you get involved? michael@founder.org