Gonçalo Amorim presentation on ISCTE MIT Competition. If you are an entrepreneur you should check out this competition. € 100 000 euros prize money

1. ISCTE-IUL MIT-Portugal Venture Competition
A different Global Innovation &
Entrepreneurship initiative
Gonçalo Amorim
MPP-IEI Program Director
ISCTE-IUL Business School
© ISCTE-IUL, 2011 – All rights reserved
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3. In a nutshell:
•
International tech-based venture competition
•
Held once a year, 3rd ed. Launched March'12
•
4 Market-application tracks:
1. Lifesciences
2. Sustainable Energy & Transportation systems
3. Information Technology and the Web
4. Consumer Products and Services
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4. ISCTE-IUL MIT-Portugal Venture Competition
What is it?
•An innovation & entrepreneurship, tech-based Venture
competition
For whom? Teams with a dream:-
• Would-be Entrepreneurs
• Innovators (Start-up's / Spin-off's under 5y and <2,5M€)
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5. ISCTE-IUL MIT-Portugal Venture Competition
Our results thus far (18 months):
•
80% of semifinalist's have launched start-ups
following e-teams I
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69% of semifinalist's raised funding, €6.0M (over
50% from venture capital)
•
72 new, highly qualified jobs created.
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6. ISCTE-IUL MIT-Portugal Venture Competition
Our fundamental principles:
1- It's all about people, the right people for the
right job
2- Time is money, and (the right) money can buy
you time
3- If you don't know what you don't know you
scare knowlegeable people away
4- Finalist's may be off to an easier start, but are
most often not garranteed successes
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7. ISCTE-IUL MIT-Portugal Venture Competition
Our Goals:
•
Identify and reward projects at an seed/early stage
with a clear global value proposition
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Enable a 10x to 20x pre-money valuation within first
years of venture
•
Connect global Innovators to global Investors
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in financial support per edition
Up to €1 million
ISCTE-IUL MITPortugal Venture Competition

9. Caixa Empreender+ Awards
- Track finalists
Selection phase: 100k€
Venture phase: 100k€*
– Total: 200k€
- Grand finalist
Selection phase: 200k€
Venture phase: 200k€*
Total: 400k€
- Expert Coaching (20 start-ups/year)
- Access MIT eco-system (12 Start-ups/year)
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10. ISCTE-IUL MITPortugal Venture Competition
Finalists can double their
awards
How?
Meet milestones and goals within first 2
years.
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11. Ultimate goal for teams:
Increase company value from 10 to 20x in the first 3 years
Minimum pre-money valuation of €2 million
Get ready to raise VC money (series A), €2 - 5 million
range
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12. ISCTE-IUL MITPortugal Venture Competition
We're not reinventing
the wheel
• 33.600 companies founded by living MIT
alumni
(76% alive, employing 3.3M)
• Annual revenues of $2 trillion (~10x the GDP
of Portugal)!
• Annual R&D CAPEX: $650M (54% privately
sponsored); USD 2B/year budget
• 500+ patents/y (280+ filed/y)
• $90M license revenue ('08)
• 72 MIT Nobel Prize winners (7 current faculty
members)
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13. Positioning our venture competition
Training / Start-Up accelerators:
– CoHitec (COTEC), GSI (Leadership), Y-Combinator (Stanford),
TED-x, TechStars (USA), Seedcamp (UK), Start-up Lisboa (PT)
• Competitions:
Ideas: eg. Jovem Engenheiro, I2P, Startup Weekend, Poli-
Empreende, EDP University Challenge, ArriscaC, iUP25, start-up
pirates,
Business Plans: ANJE (PT), EDP Richard Branson (PT), BES
Inovação (PT), MIT100k (USA)...
Venture competiitons: ISCTE-IUL MIT-Portugal (PT), Mass
Challenge (Boston/USA), IBM SmartCamp (USA), Vodafone
Mobile Clicks (UK), TT Ventures (IT)...
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14. Unique aspects: in what we do?
What's unique
• Our Target: “Start” where Business Plan competitions
end
• Our Tools: 200+ hours of training and coaching in Go-to-
Market strategies with entrepreneurs, during Selection
• Our Focus: Execution, global leverage via International
catalyst ecosystem, during Venture
...designed to foster strong bonds with international
investors.
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15. ISCTE-IUL MITPortugal Venture Competition
In 2010 & 2011, 155 brave
teams submitted
Involving 600+ aspiring globalpreneurs
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16. Some numbers (2011 submissions):
- Increasing quality applications, thanks to our TTO's colleagues
- Applicants from 6 countries: Portugal, Argentina, Belgium, Spain,
UK, USA (13,2% Int. submissions)
- 46.7% already incorporated start-ups!
- 48.3% from IT&Web
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17. Unique aspects:
So, how do we do we go about building
global innovators?
March to
November
95 Selection
20 Semi- €0.5M to 4
Applications Stage
finalists Finalists
(2010)
Teams work on
€0.5M upon Venture
Award
execution Stage
Milestones
Up to 5
years
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teams:
Selection as a
Unique aspects: learning process for

19. 3rd edition (ongoing):- key dates
March 15th Submission period opens
May 31st Deadline for project's submission
July 2nd 20 Semi-finalists' announcement
July 16-19th e-teams Crash Course I
November 13th Track Finals event
November 21-23th e-teams Crash Course II
28th February 2013 Grand Finale event
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20. What is the jury looking for?
Strong & clear Value Propositions: some hints
1. Team: members and fit?
2. How big is the problem you are trying to solve?
3. What is the underlying technology and uniqueness?
4. What makes your product / or service innovative (€)?
5. Market: Is there an opportunity for global impact?
6. What is your business model and entry strategy?
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21. Track Finalists (2011 ed.):
Lifesciences E&T IT&Web P&S
ISCTE-IUL MITPortugal Venture Competition
Evaluated by over 40 International
Judges
4 Finalists selected, with access to €500.000
Focus on Execution to double award
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22. 4 Honorable Mentions granted (2011 ed.),
Lifesciences E&T IT&Web P&S
With access to,
– Privileged track mechanism to venture financing
– Access to MIT catalysts
– Access to MIT ecosystem (invitation only)
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23. Track Finalists (2010 ed.):
Lifesciences E&T IT&Web P&S
ISCTE-IUL MITPortugal Venture Competition
Evaluated by 36 International
Judges
4 Finalists selected, with access to €500.000
Focus on Execution to double award
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24. 4 Honorable Mentions granted (2010 ed.):
Lifesciences E&T IT&Web P&S
With access to,
– Privileged track mechanism to venture financing
– Access to MIT catalysts
– Access to MIT ecosystem (invitation only)
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25. ISCTE-IUL MITPortugal Venture Competition
Spotlight our ventures (2010 ed.)
TV, Radio, Press support
10+ TV interviews, 70+ press articles, 350+ web
citations
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26. Thanks for your attention!
Gonçalo Amorim
Program Director, MPP-IEI
goncalo.amorim@iscte.pt
Catarina Madeira
Operations Coordinator, MPP-IEI
catarina.madeira@iscte.pt
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