"Sustainable Finance Management" TTGV tarafından düzenlenen Refresh 2017 toplantısı, "Teknoloji Finansmanı ve Finansman Modelleri" bölümü.

1. Idea to Impact:
An overview of VentureWell
7 October, 2016
Phil Weilerstein
President & CEO
VentureWell.org

2. Our Mission
VentureWell supports early-stage, socially beneficial
science and technology innovators, their ventures, and the
innovation and entrepreneurship ecosystems that are
critical to their success.
1

3. Innovators’ Pathway
Aware ValidateDiscoverPrepare Build Grow
Faculty
Students
Entrepreneurs
Innovators
Universities
Accelerators /
Incubators
Governments /
Philanthropies
Investors
Learn
Discover (market, customer),
Validate (market, business
model)
Validate, Build, Grow
Inspire, Educate
Educate, Support
Fund, Connect
Coach, Mentor, Connect
Invest
Innovation & Entrepreneurship Landscape

4. Our Programs & Initiatives
Early Stage Innovator
Programs
I-Corps
E-Teams
Xcelerator
GIST
ASPIRE
BMEidea /
DEBUT
Faculty Initiatives
Programs
Faculty Grants
Pathways to
Innovation
OPEN
Lean
LaunchPad®
I&E Network Initiatives
National
Innovation
Network
BME-IDEA
Meeting
TTA Advisory
GIST Network
3

5. Inputs Activities Outputs Outcomes Impact
Early Stage Innovators
VentureWell Staff &
Networks
Funders
I-Corps™
Attitudinal Shifts
Adoption of I&E
practices
Educational
• Academic Success
E-Teams (E1 & E2)
Xcelerator
GIST Bootcamps
ASPIRE
BMEidea / BMEstart /
DEBUT
Faculty Grants
• student teams
Pathways to
Innovation
Faculty
Trainers, Instructors,
Mentors, Coaches
National Innovation
Network
Cultivate I&E Networks
OPEN
Lean Launch Pad ®
BME-IDEA Meeting
TTA Advisory
GIST Network
Recruit, Train, Support
and/or Fund Early Stage
Innovators
Recruit, Train and/or Fund
Faculty
I-Corps@NIH
Recruitment
Funding
Networks
RTS$
R
$
R$
Building National
Innovation Capacity
Policy
Documented Evidence of
Commitment to I&E
Internal
Behavioral
Venture / Organizational
Early Stage Innovators
Career
• Employment
• Research
• Teaching
Faculty
• Lemelson
• NSF
• NIH
• USAID
• State
Department
• Gates
• Kauffman
• AutoDesk
• European
Investment
Fund
• USDoE
RT$
Training, Coaching &
MentoringRTS$
RTS$
Participation, Retention /
Attrition Rates
Quantity & Quality of
S&T Ventures
R
T
RT$
Satisfaction Levels
Quantity & Quality of
Applicant Pool
T
Intent to Persist
Networks
Quantity & Quality of
Connections
Policy Change
Achievement of
Benchmarks
Accomplishments,
Milestones Achieved
Economic
• Products
• Ventures
• Investments
Institutions
Actual I&E
Persistence
Knowledge Gains
Awareness & Support
from Key Decision
Makers
Participation, Retention
& Attrition Rates
Satisfaction Levels
Identification of
Helpers & Barriers
Immediate Feedback for
Program Improvement
Institutional
Quantity & Quality of
I&E Opportunities
Assessment of Overall
Program Impact
Career
• Employment
• Research
• Teaching
Commercialization
• Investments
• Revenue
• Jobs
• Patents
Social and/or
Environmental
• Beneficiaries
Intent to Persist
Intent to Persist
Awareness of I&E
Economy
CTIC MoroccoRTS$

6. Our Funders and Partners

7. *
Consul*ng and
Service Revenue 20%
Other Federal 5 %
Other State Dept 3 %
Na*onal Science Founda*on
38%
Private Philanthropies 20 %
Sponsorship 3%
Funding Sources

8. Support and Training for Innovators
and Entrepreneurs
We work directly to support inventors and innovators in
bringing their ideas to market through:
– Workshops and training
– Coaching and mentoring
– Funding or awards
7
Example Current Programs:
o E-Teams
o ASPIRE
o I-CorpsTM / Lean Start Up
o Xcelerator
o GIST Bootcamps
o Venture Pipeline Development

9. Idea
Training to support Early Stage innovators
Goals are:
§ Develop start-up competency in commercialization
§ Expanding the pipeline of early stage innovations
Investment /Partnership
Ready
Introduction to evidence-based,
milestone-based entrepreneurship
Market Discovery and Validation
Customer Discovery and
Business Model Development
Customer Validation and
Investment Readiness
Typical Topics of Training in
STIE Programs

10. E-Team Grants Program
§ 50 teams
§ $5,000 in funding
Key objective:
Discover the best market
for the invention.
§ 9-10 teams
§ opportunity for further
funding
Key objective:
Develop a case for
partners and investors to
invest in the business.
§ 20 teams
§ $20,000 in funding
Key objective:
Develop and validate
business model.
Stage 1
Market Discovery
Stage 2
Business Model
Development
Stage 3
ASPIRE
Presented with support from The Lemelson Foundation.
Stage 3 ASPIRE presented with additional support from the Ewing Marion Kauffmann Foundation.
The E-Team Program cultivates opportunities for collegiate
entrepreneurs to move ideas out of the lab and into the marketplace.

11. ASPIRE Program
10
§ ASPIRE creates advanced, sector-specific training
programs and prepares high-potential, emerging
hardware ventures for investment.

12. E-Team Outcomes
§ 583 grants awarded to
teams from 161 schools
§ $7.5mm awarded to
date
§ 140 companies formed
§ over $750mm raised by
companies

13. Seed Investing Program
12
Goals:
1. Invest in innovations with high-potential for impact to help them get out of
the lab and into the market;
2. Catalyze investment into a high-risk but potentially high-impact company;
3. Return financial returns into the organization to further the mission;
4. Make investments instead of a grant to create a regenerative effect. We
teach investment-ready teams the ins & outs of venture funding and
signal confidence to otherwise wary angel and seed investors.
Our seed-stage investments are tools for
learning, providing catalytic risk capital.

14. Seed Investing Criteria
• Venture has emerged from our pipeline
• Simple investment vehicle (typically conver*ble
debt)
• 1:1 match from a sophis*cated lead investor.
• A clear path to profitability and an exit strategy
• Cataly*c use of funds that allow the team to
achieve key milestones that are cri*cal to growth

15. Innovation Network Development
§ Initiatives to create and build networks to
strengthen the overall innovation &
entrepreneurship ecosystem.
14
o National Innovation
Network
o BME-IDEA Meeting
o TTA Advisory
o GIST Network

16. National Innovation Network
Hundreds of NSF-funded researchers from I-CorpsTM
Teams, Nodes, and Sites participate in the National
Innovation Network (NIN). This network of thinkers is
addressing America’s needs for innovation education,
infrastructure, and research.

17. 7 Nodes, 51 Sites

18. As of May 2016 …
§ 38 courses held
§ 749 teams trained
§ 203 colleges and universities sending
teams
§ 2,392 individuals trained
§ 42,000+ customer discovery interviews
conducted

19. Expansion Across Agencies
I-Corps L
3 courses
I-Corps @ NIH
2 courses; 38 teams
Lab-Corps
8 Labs
2013 2014 2015 2016
including 12 teams from
DOE, DOD, NIH, or USDA
ARS.
I-Corps @ DOD
Pilot
Accep*ng
applica*ons
I-Corps Energy &
Transporta*on
Kicks-off in May

20. As of April 2016 …
• 324 companies…. and growing
• 3 acquisitions
• $83 million raised
1%2%
3%
31%
63%
Awards/contests
Revenue
Grants
Angel/VC funding
Government awards

21. 81% of I-Corps Teams
are active 13-21
months after the
course
PIs
60%
Posi7ve
Influence
60% of PIs say I-Corps
positively influences
their teaching
81%
Ac7ve

22. CleanTech Innovation Challenge
§ CTIC supports global CleanTech
innovation and entrepreneurship through
direct work with innovators and ecosystem
development and support.
§ First location – Morocco, Fall 2016
o Workshops for innovators;
sector-specific topics include
value proposition and business
model development
o Creation of network of
supporters and mentors for
CleanTech innovators

23. European Investment Fund - TTA
Country-wide early-stage
innovation support and training
program. Focus on developing:
§ Technology Transfer Capacity in
Country
§ Building Funding Capability of
Angel and VC groups to support
Early Stage Innovators
§ Advisory to Governmental
Agencies on the support of early
stage innovators.

24. Turkey Technology Transfer
Accelerator Advisory
• European Innovation Funded Program to
support building capacity in startup support
and tech transfer.
• The initiative has the following key
objectives:
• Assist with matchmaking and linkages for Turkish
TTO’s and agencies to U.S. TTO counterparts
• Help in building the Turkish Technology Transfer
Offices community
• Develop TTO-specific strategic plans
23

25. Faculty Initiative Programs
§ Initiatives to support faculty in developing programs that
cultivate & support student innovators and promote
institutional change through:
– Grants
– Workshops & Training
– Conferences
24
o Faculty Grants
o Pathways to Innovation
o Open
o Lean LaunchPad®

26. Faculty Grants
VentureWell grants of up to $30,000 challenge faculty to create new
courses and programs in which students develop ideas and gain the
skills to bring them to market.
These grants support experiential learning and foster student invention,
innovation, and entrepreneurship that leads to the creation and support
of VentureWell student E-Teams.
Next deadline:
November 9

27. Faculty Grants Outcomes
Since 2011:
§ 156 grants awarded
§ $4.5MM total
§ 94 institutions
§ over 14,000 students impacted
§ 3 out of 4 of the courses & programs created
through the grant continue after the grant period

28. 27
Pathways to Innovation Program:
Faculty Development & Institutional Change
Initiative
Goal: Enable engineering programs to develop
widespread, effective, and accessible innovation
and entrepreneurship (I&E) offerings for
undergraduate engineering students embedded
into formal and informal undergraduate
engineering education.

29. Program Elements
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30. Lean LaunchPad®
The Lean LaunchPad educators program trains faculty to
integrate Lean Startup principles into curriculum.
Next seminar:
December 5-7

31. OPEN Conference
Open is an annual convening of faculty, government,
foundations and others focused on increasing science and
technology invention, innovation & entrepreneurship in
higher education & research.
Next Conference:
Washington, D.C.
March 24-25, 2017

32. Thank you !
Phil Weilerstein
VentureWell.org
pweilerstein@venturewell.org