Invention to Venture（五）.pptVIP

January 2004 I2V Presentation Guide/Outline | Grayhead Associates- ? 2003 Is Technology Entrepreneurship for You? Garret Moddel Professor, Electrical and Computer Engineering Founder, President CEO, Phiar Corporation Story of Phiar Early stage spin off from University of Colorado at Boulder (CU) Founded April 2001 Started with former students professor on leave of absence Leaving without leaving Exclusive license from CU Whew! Series-A investment from Menlo Ventures Walking in with a yellow pad a pen Currently developing collaborative agreement with large semiconductor firm What it Takes to Get Started What kind of university-developed technology makes sense to commercialize? Is it enough to just have a good idea for a new technology? At what stage should one raise investment money? What are the alternatives? How long does it take to raise money from a VC? Money is money, right? Does it matter which VC invests? What’s the difference between a professor a president? What kind of personality do I need to run a company? What kind of experience do I need to have, or do I need to have on my team in order to raise money? What it Takes to Keep Going What does persistence really mean? Belief Accepting risk Ear plugs When to listen to advice when to ignore it The team Balancing University and Startup Roles Blood, sweat tears… and milestones What do investors expect of me if they put money into my company? Conflicts of interest and commitment What are the challenges of trying to start a company as a professor at CU? What are some suggestions for managing these roles? Transition Back to CU How do I set up the company so that it will be sustainable after I stop working full time? Losses What have I lost? What has the University lost? Gains What have I gained? What has the University gained? Karen Buechler Founder and CTO, ALD NanoSolutions ALD NanoSolutions’ Story Founded in 2001 by two professors, one post-doc, and one experienced business professional Current Fu