2. Agenda
• Venture Labs Intro and Objectives
• Past Success Stories
• Recruitment and Student Application
Process
2
3. Mission
• Venture Labs is a University wide
interdisciplinary education and research
initiative to support entrepreneurship,
innovation and company formation while
providing a unique and directly applicable
educational experience for participating
students and a research environment for
faculty.
3
4. Objectives
• Venture Labs delivers the intellectual
horsepower to promote new venture
creation at UT Austin through:
– Education and mentoring
– Market and Business Plan validation
– Team-building and networking
– Providing direct links to resources and funding
4
5. Structure and Position
• Designed to accelerate company formation
• Run by students across campus
• Acts as a consultation and recommendation source
• Looks like a venture capital firm
• Relies on outside sources of capital
• Not reproducing any on-campus or business
organization
• Will selectively take on portfolio companies for
business development in the beginning and expand
this capacity over time
5
6. Initiatives
• Engineering, Law School and CNS partnership
– Cross-campus course offerings
• CTAN relationship
• Venture Week / Venture Expo
• Venture Labs Investment Competition
– Formerly MOOT Corp
• Industry Advisory Council
• Technical Advisory Board
• Possible centralization of cross-campus student
entrepreneurial efforts
6
7. Portfolio Company Application Process
• 1) Determine deal stage (see website ‐
www.TexasVentureLabs.net)
• 2) If there is a fit with the deals Venture Labs is
currently handling, entrepreneur will fill out an in‐
depth online applicaFon through AngelsoH.
• 3) Complete profiles are reviewed and prioriFzed by
an independent Advisory Council based upon
commercializaFon potenFal
7
9. Success Stories
Ty p i c a l S t a r t u p L i f e c y c l e
n am ng
on )o el Te tori
) da od an nt en
era ch gy ali M Pl me M h
en r olo nse t V ct ss ss ge g h g st
a G esea hn e rke rodu usine usine na din nc goin rowt arve
Ide R Tec Lic Ma P B B Ma Fu
n Lau On G H
Stage I Stage II Stage III Stage IV
Wibole
10. Recruitment
• Seeking 7-10 MBAs and 5 Engineer, 5 Law, 5 CNS
Students for Fall 2011 class
– Total class size is 30
• Selected individuals will participate in the program during
Fall semester 2011 as TVL Associates
• Associates may be selected to continue as TVL Principals
during Spring semester 2012
10
11. Venture Labs Practicum Logistics
• All participants will receive directed-study credit through
MAN 385 - Venture Labs Practicum
– Monday from 6:00 – 9:00 pm
• All participants can expect an average deal load of 1
Stage III/IV deals and 1 Stage II deal
– Students can expect 8-10 hrs/week for class and startup work
• Principals and Senior Associates serve as deal leads
• Associates serve as deal team-members
• All participants should look to add value where needed
11
12. Application Process: MBA
• Interested applicants: email application
– TexasVentureLabsRecruiting@gmail.com
– Resume and cover letter explaining interest in Venture Labs
• 1st Round: Submission
– Investment recommendation (1-page Quick Screen and 2-page Summary)
• 2nd Round: Selected candidates will be assigned to teams and have
~1 week to formulate a team recommendation and 10 min.
presentation on the same case used in Round 1
– Team presentations will be judged by selected Advisory Council members and
Entrepreneurship Faculty
– Candidates will complete self- and team-evaluations based on presentations
• 3rd Round: Selected individual candidates will be invited to a 30-min.
behavioral interview
– Individuals will discuss team member evaluations
12
13. Application Timeline: MBA
• Feb. 16th, 7:00 pm - Information Session
• Mar. 3rd, 12 pm – Application deadline
– Resume
– 1 pg. Cover Letter detailing your interest in TVL and why you would be a good fit
– Email submissions to: TexasVentureLabsRecruiting@gmail.com
• Mar. 3rd, 5 pm - Receive business plan via email
• Mar. 22nd by 5:00 pm – 1st Round submissions due
– Case Analysis/Investment Decision due (via email to
TexasVentureLabsRecruiting@gmail.com)
• Mar. 22nd – Candidates announced and organized into teams
– Teams (MBA/Law/Eng/CNS) will sign up for presentation times via email
• Mar. 28th – 2nd Round Team Presentations
• Apr. 4-8 – 3rd Round Interviews
• Apr. 15th – Fall 2011 TVL Associates announced
– Happy Hour to welcome new Associates.
13
14. Application Process: Non-MBA
• Interested applicants: email to request business plan
– TexasVentureLabsRecruiting@gmail.com
– Resume and 1 pg. Cover Letter explaining interest in Venture Labs
• 1st Round: Submission
– You will receive a business plan via email
– Become familiar with the business plan and those issues you feel are pertinent in
determining whether or not to invest in the business
• 2nd Round: Selected candidates will be assigned to teams
and
have 2 weeks to formulate a team recommendation and 10
min. presentation on the same case used in Round 1
– Team presentations will be judged by selected Advisory Council members and
Entrepreneurship Faculty
– Candidates will complete self- and team-evaluations based on presentations
• 3rd Round: Selected individual candidates will be invited to a 30-min.
behavioral interview
– Individuals will discuss team member evaluations
14
15. Application Timeline: Non-MBA
• Information Sessions:
– Engineering: Monday, February 28, 2011, 4:30 PM Room: CPE 2.214
– Law: Wednesday, March 2, 2011, 5 PM Room: TNH 2.138
– CNS: Thursday, March 3, 2011, 5 PM Room: ACES 2.402
• Mar. 9th, 12 pm – Deadline to submit applications
– Resume & Cover Letter
– TexasVentureLabsRecruiting@gmail.com
• Mar. 10th, 5 pm – Receive business plan
• Mar. 22nd – Candidates announced and organized into teams
– Teams (MBA/Law/Eng/CNS) will sign up for presentation times via email
• Mar. 28th – 2nd Round Team Presentations
• Apr. 4-8 – 3rd Round Interviews
• Apr. 15th – Fall 2011 TVL Associates announced
15
Under “Run by students” - students will be learning the startup process while building companies\n
\n
- This application is in-depth and will require a significant amount of effort, and full disclosure (?) \n\n- Texas Venture Labs will accommodate as many deals as its capacity permits\n- Deals that clear the selection criteria will be contacted by Venture Labs for inclusion in the following semester\n
\n
- Wibole\n Problem: Wireless networks are increasingly overwhelmed and ineffective\n Solution: Wibole uses MWC technology to use wireless devices as relays in order to leverage available bandwidth and signal strength. This approach is a fundamental change from the status quo and offers value to many members of the industry\n \nOrdoro\n Problem: Software gap for budding e-commerce businesses\n Solution: Orodoro is a cloud-based inventory and shipment management system for burgeoning e-commerce retailers (i.e. >10 orders/day)\n \nHurricane Party\n Problem: Small biz cannot reach new or existing customers\n Solution: A mobile app that allows users to easily invite friends to a location, broadcast that location to their network, and take advantage of group buying power with deals. For small biz: a direct advertising channel to customers \n \nOrthoKinematics\n Problem: Poor diagnosis for spine fusion surgery\n Solution: Improved spinal fusion outcomes through more accurate diagnosis using patented stabilization equipment to reduce measurement variability and image processing software to provide actionable data\n \nuShip.com\n Description: global online marketplace for shipping services \n \nPhurnace Software\n Description: Phurnace made solutions for Java applications\n Exit: acquired by BMC software in early 2010\n
\n
\n
- Under 1st Round: All deliverables will be reviewed anonymously\n Under 2nd Round: there will also be a team, peer-evaluation \n \n
- Happy hour: Time/Location TBD\n
- Under 1st Round: All deliverables will be reviewed anonymously\n Under 2nd Round: there will also be a team, peer-evaluation \n \n
