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Houston’s Mentor-driven Seed Accelerator<br />SPRING 2012<br />
Seed Accelerator Overview<br />Provide Entrepreneurs with Capital, Mentorship & Connections, in Return for Equity<br />Str...
Why SURGE?Growth/Success of US Seed Accelerators<br />There is NO accelerator focused on ENERGY IT vertical<br />
Case Studies: IT Successes <br />Another Y-Combinator Win: WuFoo Exits for $35M, After Raising Only $118,000 <br />$35M<br...
SURGE<br />Houston’s For-Profit, Mentor-Driven Seed Accelerator <br />12-week Bootcamp launching in Spring 2012<br />1st &...
Raised over $500K (DFJ Mercury, HAN, Energy Co’s)
Launched Website and Attracted PR
Paying Sponsors including Energy Focused Service Providers
Joined TechStars Network for global Accelerators best practices</li></li></ul><li>Core Purpose<br />To be the pre-eminent ...
SMART GRID<br />IT applications used to increase grid efficiency, measure demand, and reduce wasteIncludes Smart Grid, Sma...
Portfolio Strategy<br />FOCUS: Entrepreneurs developing innovative applications at the intersection of Energy + IT<br />GO...
CAPITAL<br />CUSTOMERS<br />COMMUNITY<br />SERVICE PROVIDERS<br />ACCOLADES<br />World Class Ecosystem<br />
Leadership: Steering Committee<br />Kirk Coburn – Managing Director<br />3-time Entrepreneur: PGA TOUR Network, Chief Outs...
Why HOUSTON<br /><ul><li>The Energy Capital of the World
Home to more than 5,000 Energy Companies
#1 IT Services Economy
Fully Deregulated Utility Market (Gen to Cust)
Largest 	Population of Deployed Smart Meters
Largest Purchaser of Green Power in Nation
#1 Wind Generation</li></li></ul><li>Keys to Program: Mentors<br />
Business Plan and Financial Model Development<br />Product Development and Market Validation<br />Connect Lead Mentors to ...
Program Next Steps<br />PILOT<br />INCUBATION & FUNDING<br />IDEA<br />Global Entrepreneurs<br />Incubators<br />Texas Uni...
Timeline<br />
Next Steps to SURGE <br /><ul><li>STEP 1: Become a Mentor
STEP 2: Identify Other World-Class Mentors
STEP 3: Identify Key Problems to Solve
STEP 4: Participate in SURGE Day
STEP 5: Agree to Pilot/Connect
STEP 6: Invest </li></li></ul><li>Mentoring at SURGE <br /><ul><li>Giving Back and Building an EcoSystem
Lead Mentoring vs. Ad Hoc Input
Exclusive and World-Class
Timing Commitment: 2-3 hours per week
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Surge Accelerator

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Surge Accelerator

  1. 1. Houston’s Mentor-driven Seed Accelerator<br />SPRING 2012<br />
  2. 2. Seed Accelerator Overview<br />Provide Entrepreneurs with Capital, Mentorship & Connections, in Return for Equity<br />Structured 12 week curriculum culminating in “Pitch Day” to Angels, VCs and Industry Execs<br />Similar programs have achieved strong returns in other IT verticals<br />
  3. 3. Why SURGE?Growth/Success of US Seed Accelerators<br />There is NO accelerator focused on ENERGY IT vertical<br />
  4. 4. Case Studies: IT Successes <br />Another Y-Combinator Win: WuFoo Exits for $35M, After Raising Only $118,000 <br />$35M<br />Salesforce.com has just announced that it is acquiring Heroku for $212M in cash<br />$212M<br />AOL acquired SocialThing with $550k in fund raising post TechStars <br />$10M<br />Limbo merges with Brightkite and announces $9M funding round<br />$9M<br />Localytics Raises $2.5M for Mobile Analytics Platform<br />$3M<br />Dallas’ TechWildcatters ImageVisionLabs raises $2M from Walden Venture Capital<br />$2M<br />
  5. 5. SURGE<br />Houston’s For-Profit, Mentor-Driven Seed Accelerator <br />12-week Bootcamp launching in Spring 2012<br />1st & Only Accelerator Focused on ENERGY + IT<br />Progress<br /><ul><li>50+ Mentors: Leading VC’s, Energy Execs, Entrepreneurs
  6. 6. Raised over $500K (DFJ Mercury, HAN, Energy Co’s)
  7. 7. Launched Website and Attracted PR
  8. 8. Paying Sponsors including Energy Focused Service Providers
  9. 9. Joined TechStars Network for global Accelerators best practices</li></li></ul><li>Core Purpose<br />To be the pre-eminent mentor driven seed accelerator focused solely on enabling entrepreneurs to create the efficient energy software technologies of the future, thus reducing the country's reliance on fossil fuels and improving overall energy efficiency. <br />
  10. 10. SMART GRID<br />IT applications used to increase grid efficiency, measure demand, and reduce wasteIncludes Smart Grid, Smart Meter, and EV Grid<br />TRADING & RISK MGMT(ETRM)<br />Capital Markets + IT = Increased visibility and flexible response to supply or demand shocks<br />DIGITAL OILFIELD<br />Data + IT used to maximize production, safety, and efficiency at the wellhead<br />Efficient Energy Software Technologies<br />
  11. 11. Portfolio Strategy<br />FOCUS: Entrepreneurs developing innovative applications at the intersection of Energy + IT<br />GOAL: Take startups from theory & prototype to pilot, next round of funding and commercialization<br />INVESTMENT:<br />10 teams<br />$30k per team<br />6% common equity<br />
  12. 12. CAPITAL<br />CUSTOMERS<br />COMMUNITY<br />SERVICE PROVIDERS<br />ACCOLADES<br />World Class Ecosystem<br />
  13. 13. Leadership: Steering Committee<br />Kirk Coburn – Managing Director<br />3-time Entrepreneur: PGA TOUR Network, Chief Outsiders. Dell Exec<br />Blair Garrou – Board Member<br />Co-founder DFJ Mercury. Incubator Expert. Entrepreneur. Rice Faculty.<br />Brian Landrum – Board Member<br />Former COO Reliant Energy. Compaq GM. McKinsey & Co. <br />Andrew Clark – Board Member<br />Former Chairman of HAN. HTC EIR. DFJ Mercury Venture Advisor. Compaq Exec.<br />Brett Perlman – Smart Grid Lead<br />Former Public Utilities Commissioner. McKinsey & Co. Smart Grid Expert.<br />
  14. 14. Why HOUSTON<br /><ul><li>The Energy Capital of the World
  15. 15. Home to more than 5,000 Energy Companies
  16. 16. #1 IT Services Economy
  17. 17. Fully Deregulated Utility Market (Gen to Cust)
  18. 18. Largest Population of Deployed Smart Meters
  19. 19. Largest Purchaser of Green Power in Nation
  20. 20. #1 Wind Generation</li></li></ul><li>Keys to Program: Mentors<br />
  21. 21. Business Plan and Financial Model Development<br />Product Development and Market Validation<br />Connect Lead Mentors to Teams<br />Connections to Capital, Customers, Entrepreneurs, Expertise, Talent <br />Mentor Workshops (Marketing, Sales, Ops, IT, Legal, etc.)<br />Term Sheet Prep<br />Customer Discovery<br />Customer Creation<br />Company Building<br />Customer Validation<br />STAGE 2: <br />Product Readiness<br />STAGE 1: Connections<br />STAGE 3: <br />Pilot Landing<br />SURGE: Custom Curriculum<br />Week 1<br />Week 4<br />Week 2<br />Week 3<br />Week 5<br />Week 6<br />Week 7<br />Week 8<br />Week 9<br />Week 12<br />SURGE DAY<br />Pivot<br />
  22. 22. Program Next Steps<br />PILOT<br />INCUBATION & FUNDING<br />IDEA<br />Global Entrepreneurs<br />Incubators<br />Texas Universities<br />Pilots<br />Industry<br />Funding<br />40+ VC’s from SURGE DAY<br />
  23. 23. Timeline<br />
  24. 24. Next Steps to SURGE <br /><ul><li>STEP 1: Become a Mentor
  25. 25. STEP 2: Identify Other World-Class Mentors
  26. 26. STEP 3: Identify Key Problems to Solve
  27. 27. STEP 4: Participate in SURGE Day
  28. 28. STEP 5: Agree to Pilot/Connect
  29. 29. STEP 6: Invest </li></li></ul><li>Mentoring at SURGE <br /><ul><li>Giving Back and Building an EcoSystem
  30. 30. Lead Mentoring vs. Ad Hoc Input
  31. 31. Exclusive and World-Class
  32. 32. Timing Commitment: 2-3 hours per week
  33. 33. Focus: business model, go to market strategy, branding, pricing, the investor pitch, connecting to customers
  34. 34. Long-term: Board, Invest, Connect, Give-Back</li></li></ul><li>SURGE Day<br /><ul><li>What: Class 1 Presents Plan and Demo
  35. 35. When: June 2012
  36. 36. Who: 300 – 400 venture capitalists, angel investors, energy companies and corporate development teams, media, entrepreneurs
  37. 37. Where: House of Blues
  38. 38. Goal: 50%+ to land follow-on funding (>$500k) and land critical pilots in next 6 mos.</li></li></ul><li>Investing in SURGE<br />Why Invest: Cat Bird Seat, Second Order Effects, HAN Energy Ecosystem<br />Investment Structure: LLC Model used by Leading Accelerators<br /><ul><li>Raising $900,000 ($500k already funded)
  39. 39. DFJ Mercury
  40. 40. HAN Members (Kirk Coburn, Andrew Clark, David Steakley, Scott Southall, Hayden Hill and Brad Wilson)
  41. 41. Kemal Farid
  42. 42. Investors buy membership interests in LLC
  43. 43. Carried interest in lieu of salary, No Mgt Fee, Standard Practice</li></ul>Expected Returns<br /><ul><li>TechStarssees 2-3x return in 5-7 years, potential for larger upside. </li></li></ul><li>BACKUP<br />
  44. 44. Target Entrepreneurs<br /><ul><li>LOCATION: Willing to locate in Houston for 3 month bootcamp
  45. 45. FOUNDERS: Coachable Intelligence, Integrity and Energy
  46. 46. Strong value proposition
  47. 47. Strong competitive advantage
  48. 48. Target a large market
  49. 49. CAPITAL: Will bootstrap with seed funding
  50. 50. COMPANY FOCUS:
  51. 51. Information Technology that Improves Energy Efficiency
  52. 52. Existing Prototype/Product
  53. 53. Capital Efficient
  54. 54. Leverage Texas Ecosystem</li></li></ul><li><ul><li>Global: Partnerships Leading Industry Networks including Energy, CleanTech, and Entrepreneur
  55. 55. Regional: Alliance with TechStars Network, Start-up America, Kaufmann Foundation
  56. 56. Local: ~30 Efficient Energy Companies in HTC, Rice, UH Systems, & Local Startup Groups
  57. 57. Local: Connect with existing Energy ecoSystem to promote Entrepreneurship </li></ul>Attracting Entrepreneurs<br />
  58. 58. Budgeting & Funding<br /><ul><li>Start-up Costs: $50k (Legal, Website, Recruitment)
  59. 59. 2012 Program & Operational Costs: $250k
  60. 60. 2012 Company Investments: $300k
  61. 61. Sponsorships & Donations: $40k
  62. 62. Equity Investment Y1: ~$600k - $900k
  63. 63. Equity Investments Secured (Aug 2011): $300k
  64. 64. Investor Commitment Range: $25k to $150k</li></li></ul><li>Financial Projections<br /><ul><li>Original Investment = $648,710
  65. 65. Total Return = $2,200,000
  66. 66. Return Multiple: 3.4
  67. 67. IRR (10 year): 13%</li></li></ul><li>Comparative Track Record<br /><ul><li>TechStars >15% acquired over $2M with investment of $20k
  68. 68. 7 out of 10 companies are raising outside funding
  69. 69. Y-Combinator > 5x Return
  70. 70. Omnisio sold > $15M to Google
  71. 71. Heroku sold > $220M to Salesforce.com</li></li></ul><li>Key Application Areas:<br />Distribution Automation<br />Data Analytics<br />Demand Response<br />Cyber Security<br />Carbon Management<br />Home Energy Management<br />Electric Vehicle<br />Customers:<br />Utilities<br />Residential Consumers<br />Commercial Buildings<br />Cities<br />Smart Grid: $138B market<br />
  72. 72. Key Application Areas:<br />Market data acquisition<br />Real-time position tracking<br />Predictive analytics & reporting<br />Carbon trading<br />Weather Integration<br />Demand-Response integration<br />Customers:<br />Energy Companies<br />Utilities<br />Commodity Traders<br />Companies that hedge energy use (i.e. airlines, freight logistics)<br />Energy Trading & <br />Risk Management: $500M market<br />
  73. 73. Key Application Areas:<br />Real time data acquisition<br />Reservoir management<br />Well modeling <br />4D Seismic <br />Wireless remote operations<br />Customers:<br />E&P companies<br />Oil field service companies<br />Technology vendors<br />Digital Oilfield<br />
  74. 74. Smart Grid defined...<br />
  75. 75. Smart Grid defined...<br />
  76. 76. Energy Trading & Risk Management Management<br />
  77. 77. Digital Oilfield: defined<br />

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