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@NYUEntrepreneur
Introduction to the
NSF Innovation Corps
(I-Corps)
Frank Rimalovski
Executive Director,
NYU Entrepreneuri...
@NYUEntrepreneur
Agenda
u  Background
u  Program benefits and outcomes
u  Program details
o  Curriculum
o  Eligibility
o...
@NYUEntrepreneur
Path to commercialization…
u  …increasingly requires startup to advance technology,
develop customer/par...
@NYUEntrepreneur
Commercialization Myth
Basic &
Applied
Research
Scientific
Discovery/
Invention/
IP Creation
Venture
Form...
@NYUEntrepreneur
The “valley of death”
Commercialization Reality
Basic &
Applied
Research
Scientific
Discovery/
Invention/...
@NYUEntrepreneurThe “valley of death”
Basic &
Applied
Research
Scientific
Discovery/
Invention/
IP Creation
Customer
Disco...
@NYUEntrepreneur
Background
Creation of NSF I-Corps Program
u  Maximizes impact of NSF investments –
accelerate readiness...
@NYUEntrepreneur
NYC Regional Innovation Node
u  Collaborating with CUNY &
Columbia to run NYCRIN
o  Awarded $3.74m over ...
@NYUEntrepreneur
Background
Creation of Regional I-Corps Program
u  I-Corps for non-NSF funded
teams, run by NYCRIN Node
...
@NYUEntrepreneur
Program Curriculum
u  Lean Launchpad Methodology
o  Business-model discovery & development to
address ma...
@NYUEntrepreneur
Benefits of I-Corps
For your research/startup
u  Concentrated time to focus on
commercialization & team—a...
@NYUEntrepreneur
SBIR / STTR
12
WithI-Corps:
14% 2-3x
higher
WithoutI-Corps:
@NYUEntrepreneur
Get to market more quickly
13
@NYUEntrepreneur
Benefits of I-Corps
For you and your team
u  Improved ability to identify commercial
potential of future ...
@NYUEntrepreneur
Expected Outcomes
o  New startup business
o  Licensing opportunities
o  A business case suitable for vent...
@NYUEntrepreneur
Who else is participating?
16
@NYUEntrepreneur
Eligibility
u  NSF award within last 5 years (for NSF program);
No NSF funding requirement for Regional ...
@NYUEntrepreneur
Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Pro...
@NYUEntrepreneur
Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Pro...
@NYUEntrepreneur
Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Pro...
@NYUEntrepreneur
Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Pro...
@NYUEntrepreneur
Application Process
22
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
...
@NYUEntrepreneur
Application Process
23
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
...
@NYUEntrepreneur
We are here to help
u  Additional detail about program & what to expect
u  Discuss what kind of project...
@NYUEntrepreneur
http://bit.ly/WhatisICorps
@NYUEntrepreneur
More Information
NSF I-Corps:
o  Website: nsf.gov/i-corps
o  Monthly webinars – first Tuesday of the month...
@NYUEntrepreneur
Questions?
entrepreneur@nyu.edu
@nyuentrepreneur
nyu.edu/entrepreneur
nyuentrepreneur.com
16 Washington P...
@NYUEntrepreneur
Helping startups start up
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Intro to NSF I-Corps_6apr15

Introduction to the NSF Innovation Corps (I-Corps) program

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Intro to NSF I-Corps_6apr15

  1. 1. @NYUEntrepreneur Introduction to the NSF Innovation Corps (I-Corps) Frank Rimalovski Executive Director, NYU Entrepreneurial Institute Instructor, NSF Innovation Corps (I-Corps) April 6, 2015 Lindsey Gray Director, NYU Entrepreneurial Institute Instructor, NSF Innovation Corps (I-Corps)
  2. 2. @NYUEntrepreneur Agenda u  Background u  Program benefits and outcomes u  Program details o  Curriculum o  Eligibility o  Application process u  How we can help u  Q&A 2
  3. 3. @NYUEntrepreneur Path to commercialization… u  …increasingly requires startup to advance technology, develop customer/partner relationships & build team before acquisition Startup Acquired By
  4. 4. @NYUEntrepreneur Commercialization Myth Basic & Applied Research Scientific Discovery/ Invention/ IP Creation Venture Formation & Growth
  5. 5. @NYUEntrepreneur The “valley of death” Commercialization Reality Basic & Applied Research Scientific Discovery/ Invention/ IP Creation Venture Formation & Growth
  6. 6. @NYUEntrepreneurThe “valley of death” Basic & Applied Research Scientific Discovery/ Invention/ IP Creation Customer Discovery & Prototype Dev Business Model & Team Formation Venture Formation & Growth • Customer/market discovery • Engineering/prototypes • Mentors and advisors • Collaborative spaces • Business leadership • Legal counsel • Capital Commercialization Reality
  7. 7. @NYUEntrepreneur Background Creation of NSF I-Corps Program u  Maximizes impact of NSF investments – accelerate readiness to transition tech out of the lab u  $50,000 grants to create prototypes & commercialization roadmaps u  7-week ‘bootcamp’ that leverages best practices from startup community u  Facilitates team formation u  Creates a national network o  Scientists, engineers, innovators, business leaders and entrepreneurs * Eligibility: NSF grant within past 5 years
  8. 8. @NYUEntrepreneur NYC Regional Innovation Node u  Collaborating with CUNY & Columbia to run NYCRIN o  Awarded $3.74m over 3 years o  1 of 7 national I-Corps Nodes u  Support network of 25 research universities in NY, NJ, CT, & PA u  Provide NSF-selected teams 7-week immersive I-Corps training program (~2x/year) u  Curriculum leveraged for other NYU, NYC & regional training programs
  9. 9. @NYUEntrepreneur Background Creation of Regional I-Corps Program u  I-Corps for non-NSF funded teams, run by NYCRIN Node u  Open to faculty and researchers from all universities in NY, NJ, CT & PA u  Same curriculum & program structure as NSF program u  National programs for other agencies coming soon…
  10. 10. @NYUEntrepreneur Program Curriculum u  Lean Launchpad Methodology o  Business-model discovery & development to address market risk o  Leverages scientific method – form hypotheses, run experiments, iterate to search for repeatable & scalable business model o  Learn to secure substantial customer feedback before building & launching your product u  Flipped Classroom o  Online lectures via Udacity o  “Classroom” time spent reviewing progress o  Interview ~15 customers & partners/week o  Weekly teaching team office hours
  11. 11. @NYUEntrepreneur Benefits of I-Corps For your research/startup u  Concentrated time to focus on commercialization & team—a year’s worth of work in 7 weeks u  Funding for customer discovery & prototype development that you don’t have to find elsewhere (for NSF program) u  Exposure to/input from startup experts, investors & mentors from NYC startup ecosystem u  Increased likelihood of startup success
  12. 12. @NYUEntrepreneur SBIR / STTR 12 WithI-Corps: 14% 2-3x higher WithoutI-Corps:
  13. 13. @NYUEntrepreneur Get to market more quickly 13
  14. 14. @NYUEntrepreneur Benefits of I-Corps For you and your team u  Improved ability to identify commercial potential of future research u  Increased probability of future grant success u  Faculty more attractive to potential students u  Increased visibility with NSF u  More consulting opportunities u  New career opportunities for grad students/ postdocs (startup, industry, or gov) u  Potential for monetary gain
  15. 15. @NYUEntrepreneur Expected Outcomes o  New startup business o  Licensing opportunities o  A business case suitable for venture capital (Angels or VC funds)
  16. 16. @NYUEntrepreneur Who else is participating? 16
  17. 17. @NYUEntrepreneur Eligibility u  NSF award within last 5 years (for NSF program); No NSF funding requirement for Regional program u  Team in place at time of application o  Principal Investigator (PI) o  Entrepreneurial Lead: typically PhD student or Postdoc o  Industry Mentor u  Commitment to attend all sessions over 7 weeks o  3-day kick-off o  3 hours per week for webex ‘classes’ o  15+ hours per week of customer discovery/preparation o  2-day final presentation session 17
  18. 18. @NYUEntrepreneur Application Process Form Team Prepare Exec Summary Contact Program Directors Team Interview(s) Submit Proposal
  19. 19. @NYUEntrepreneur Application Process Form Team Prepare Exec Summary Contact Program Directors Team Interview(s) Submit Proposal u  Entrepreneurial Lead (EL) o  Postdoc or grad student who can move project forward u  Principal Investigator (PI) o  Researcher with prior award o  Responsible for grant management (for NSF program) u  Industry Mentor (IM) o  Domain-relevant volunteer guide o  Proximity is better
  20. 20. @NYUEntrepreneur Application Process Form Team Prepare Exec Summary Contact Program Directors Team Interview(s) Submit Proposal u  One page u  Composition of team proposing to undertake commercialization feasibility research u  Relevant awards (NSF or other funding source) u  Brief description of potential commercial impact u  Brief description of current commercialization plan
  21. 21. @NYUEntrepreneur Application Process Form Team Prepare Exec Summary Contact Program Directors Team Interview(s) Submit Proposal u  For NSF Program: Topic-Specific Program Directors Steve Ellis – BIO Anita La Salle – CISE Don Millard – EHR Babu DasGupta – ENG Raffaella Montelli – GEO Sean Liam Jones – MPS Irene Qualters – OCI Quinetta Roberson– SBE I-Corps Program Officers Babu DasGupta Anita La Salle u  For Regional Program: Frank Rimalovski Lindsey Gray Risa Cohn
  22. 22. @NYUEntrepreneur Application Process 22 Form Team Prepare Exec Summary Contact Program Directors Team Interview(s) Submit Proposal u  Conference call with your entire team & program directors o  NSF program will require at least 2 interviews u  Interviews focus on availability and commitment to program and openness to customer feedback u  Not asked to provide details about your technology
  23. 23. @NYUEntrepreneur Application Process 23 Form Team Prepare Exec Summary Contact Program Directors Team Interview(s) Submit Proposal FOR NSF PROGRAM ONLY: u  Read solicitation 12-602 Written authorization from Program Director required to submit proposal—sent after phone interviews u  5-page proposal o  Team (2 pages) o  NSF Lineage (1 Page) o  Potential Commercial Impact (1 page) o  Project Plan/Demo (1 page) u  Rolling process, quarterly batches, FCFS u  4-week turnaround to award
  24. 24. @NYUEntrepreneur We are here to help u  Additional detail about program & what to expect u  Discuss what kind of projects are best suited u  Introductions to mentors who may join your team u  Facilitate intro to NSF I-Corps Program Directors u  Review executive summary before you submit u  Help anticipate what to expect from interviews u  Connect with others who’ve participated in I-Corps
  25. 25. @NYUEntrepreneur http://bit.ly/WhatisICorps
  26. 26. @NYUEntrepreneur More Information NSF I-Corps: o  Website: nsf.gov/i-corps o  Monthly webinars – first Tuesday of the month o  Hear feedback from I-Corps veterans: http://bit.ly/WhatisICorps Regional I-Corps: u  NYC Regional I-Corps Node website: nycrin.org u  NYU contact: Risa Cohn at rsc255@nyu.edu
  27. 27. @NYUEntrepreneur Questions? entrepreneur@nyu.edu @nyuentrepreneur nyu.edu/entrepreneur nyuentrepreneur.com 16 Washington Place
  28. 28. @NYUEntrepreneur Helping startups start up

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