Orientation to Monash University's 6-week ACCELERATOR program for fledgling startups

1. orientation
Generator
THE
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2. What is a startup?
A temporary organisation designed to
search for a repeatable and scalable
business model
- Eric Ries

3. Product Story
• Compellingpitch to attract
investors,partners
• A viable narrative (product
market fit)
• Competitive differentiation
By the End of the Program…
Market Traction
• Validatedassumptions that
inform an MVP
• Go-to-market strategy
• Initial partners (or targets)
• IP
Business Model
• A viable revenue model and
pricing plan
• Clearly identifiedbeachhead
customer
• Validatedassumptions that
inform business model

4. Funding Plan
• A funding target and plan on
how to use the funds
• Target investors
• A capitalizationplan
• 12 month finances and
milestones
By the End of the Program…
Team Development
• The right blend of skills on
leadershipteam
• Outsourcing strategy(where
appropriate)
• Board of Directors,Advisory
Board assembled/planned
• Legal agreements in place

5. when a company ditches its
original product offering and
changes direction
What is a pivot?

6. Give time for self-
reflection
Honestly assess the good,
the bad, the ugly
I’ll ask you each review to
justify the answer: pivot
or proceed?
Pivot orProceed?

7. How Can I spend mymoney?
STEP 1
If you have an ABN…
Let us know your ABN ASAP
You will be assigned a PO# - include this on all invoices
If you do not have an ABN…
STEP 2
Submit a budget to GENERATOR for approval

8. A heads up…
• Award funds must be spent on the project as pitched, or
a reasonable pivot of that project
• You must draw down your complete award funds within
3 months of completing the ACCELERATOR (ie 2 March
2017) or the funds will no longer be available to you
• You are responsible for the expenses you incur – clear all
expenses with the GENERATOR prior to incurring them to
avoid issues
• Payments from Monash can take a while – please give
up to 2 months

9. $5,000 POF Freedom to Operate Search
$12,700 MiniFAB Prototype Development
$3,300 Laura Faulconer Staff
$1,000 Mrs. Smith Regulatory Consulting
Budget justification:
In order to confirm our IP position, we need to undertake a robust freedom to
operate search. POF has provided a quote of $5,000, a discounted rate from the
market rate of $12,000. A major milestone for STC is to generate a prototype. As we
have already completed a significant amount of prototype development work,
MiniFABhave provided a cost-effective quote for $12,700 to complete x, y and z
that will allow us to have a functional prototype for testing and fundraising. Laura
Faulconer, co-founder, has already provided significant pro bono time toward this
effort. In order to support a full time commitment in the program, $3,300 will allow
full time effort over the 1.5 month window. Finally, we need to better understand
our regulatory pathway and begin collating our regulatory filings. To do this, we
intend to work with Mrs. Smith, an expert with 15 years experience in Class 2
medical device filings with the FDA. Her quote is competitive with market rates.
ExampleBudget

10. Mentoring: What to Expect
Weekly In-person meetings
Progress reviews

11. Meet the Mentors
Mark Fink
Business Mentor
Laura McKenzie
Investor Mentor

12. Investor BoardroomPitch
Up to 6 early-stage investors
Selecting the overall most investable team
1 hour max:
• 10-15 minute pitch
• 30-40 minute Q&A and feedback
• 5-20 minutes - you exit – they score and discuss

13. Heads Up…
This is CLOSED DOOR – one team at a time, no audience
BE EARLY
o We will not change your scheduled time slot if you are
late or cannot make it
o If we are running ahead of schedule we would like to
move ahead, so try to be 30 minutes early at a
minimum

14. Heads Up…Dress is business professional
Only bring key team members/advisors (recommend 3, or
max of 5 total)
Pitch Deck preferred in Powerpoint format
If you are using another format, you are responsible for
bringing your own laptop AND testing that it works with
our display

15. Investor pitch Schedule
10:30 am Resthera
11:30 Bellum
1:30 pm Doctor Crop
2:30 Itunda
3:30 Mood Mission

16. Winner Announced?
All teams will be notified via email of
the final results along with notes from
investor comments within 3 business
days of the pitch event

17. A problem will grow in complexity in
direct proportion to the amount of time
you have to solve it
Parkinson Principle:
“We did not have enough time,” is never
an acceptable excuse in this program

18. What Now?
Review the curriculum
Put all dates into your calendar
Start thinking about what you need to achieve
to become seed investment ready… then let
me and your mentors know if anything on
your list won’t be supported in the
ACCELERATOR program so we can try to help
you in other ways, or adjust the curriculum as
appropriate.

19. Upcoming Training15 Oct Getting the Message Right
22 Oct Finances
29 Oct Law & IP
19 Nov Prototyping
23 Nov Doing a Deal
26 Nov The Real World
30 Nov The Road Ahead

20. Homework
ABN (if have one) to GENERATOR
Budget submitted
Prep for practice investor pitch
Bring all brand collateral to next workshop

21. WANT TO KNOWMORE?
GET IN TOUCH!
www.monash.edu/entrepreneurship
@monashGENERATOR
Facebook.com/monashGENERATOR
7 Innovation Walk AG01-04 (Clayton Campus)
entrepreneurship@monash.edu