Sign up early for the 3M seminar on securing IP. This 2-hour session will provide an overview of intellectual property and suggest procedures for cost-effectively securing IP assets within science and technology related businesses. Attorneys with extensive experience in a securing and managing intellectual property in a broad range of industries will lead the discussion.
This is a GREAT opportunity, but it is LIMITED to the first 50 registrants. Preference is given to graduate students, but even if you are an undergrad, you might be able to get in (you could mention that you are in this technology entrepreneurship class to show that you have a demonstrated interest). Check out the flyer.
We encourage all of you to enter (and win) the University of Minnesota’s BizPitch competition. Entry Deadline is TOMORROW. Here is the link to the infoand the entry application:
The BizPitch advertisement is shown below:
Your Chance to Win $500!
April 13, 2010
11:30 to 12:30
3M Auditorium
Opportunity to make a 90-second pitch on your new business idea to a panel of entrepreneurs and investors.
Cash prizes, feedback from experienced entrepreneurs and investors and opportunity to participate in the Business Hatchery program. Prior participants have gone on to raise capital and launch their BizPitch ideas.
Any undergraduate student currently enrolled at the University of Minnesota.
Sign up on website by March 31 (application form below)
All applicants will receive feedback and advice on developing their idea
Finalists will be notified by April 7th. Coaching and assistance available for finalists
On April 13th give your 90-second pitch in front of panel of judges
$500 Grand Prize
$100 Most Creative
$100 Social Category
$100 People’s Choice Award
Winners will also be provided access to advisory services through the Holmes Center’s Business Hatchery to support them in their launch of their business idea
Scott Litman, Magnet360
Ann Ulrich, Bold! Companies of Ann Ulrich, Inc.
Roy Wetterstrom, Revo Brand Group
Jesse Bergland, NWML
Ron Reimann, Zaptel
What makes a good business pitch? Answer these questions succinctly and you’re done!
What is your product or service?
What need does it address?
Who is your customer and how big is the market?
Who is your competition?
What is your competitive advantage vs. competition?
You also have the opportunity this week to attend a special 4-hour 3M seminar on Technology Commercialization on Saturday, March 27th, 8am-12pm. This is a GREAT opportunity, but it is LIMITED to the first 50 registrants. Preference is given to graduate students, but even if you are an undergrad, you might be able to get in (you could mention that you are in this technology entrepreneurship class to show that you have a demonstrated interest). These are a great opportunity, so act fast. See the flyer at the following link: http://www.csom.umn.edu/assets/158373.pdf
As discussed in previous posts, Tuesday each group will present their feasibility analysis. Please load your presentations on the desktop of the classroom computer. Again, the presentations should be 8 minutes (with 5 minutes for questions). We all benefit from practicing before presenting, so please do that.
On Thursday, we will begin our Organizing Module, and begin to discuss firm organization by having another group activity. Similar to the paper tower exercise, this should be a lot of fun. There are NO readings assigned for this class. We expect that you will use the time to go out an try to talk to people in your venture’s industry. This will help to avoid chasing dead-ends.
Next Tuesday, we will have a presentation from Doug Smidl on sales and marketing. As we discussed in the market analysis class, the best way to see if there is demand for your product is to go sell it. He did a great job last year on this topic, and he is willing to answer your questions.
Here are a few more pointers on finishing the feasibility analysis:
The intent is that you would give this report to someone, and they would be able to read it and have all of their questions about the feasibility of the venture answered in a easy manner. Try to keep this as your overarching framework as you answer each of the questions. It might flow better if you do not follow the exact order that we gave the questions in each section.
Sections should be labeled descriptively, not “Part 1″
You should cite the evidence that you provide. It probably works better if you include citations/references as footnotes or endnotes, both of which can be as small as 9 font, and need not be double-spaced.
Either indent or put a bit of extra space between paragraphs
Good things for your appendices. Figures, justification for your market and financial estimates, etc. All of these will be directly helpful for the business plan.
Finally, at the end of the last section, give a few lines stating your conclusion about the feasibility of the venture: Either: “The analysis above demonstrates that _____ is feasible despite the following risks….” or “The analysis above demonstrates that _____ is not feasible, for the following reasons, as shown in X and Y sections.”
Feasibility reports and presentations are due on Tuesday, 3/23, as shown on the syllabus. As shown on the syllabus, the following are the guidelines: 6-8 pages, appendices limited to 2 pages, 8 minute presentation. No readings are assigned for that class. We will post with any updates.
Yesterday’s slides are posted under Module 3, technology and Markets, Market Analysis, and this evening’s slides are posted under the Communication Module, Business Plan:
In case you didn’t get Harold Slawik’s company name written down, his website is at: www.newcounsel.com
I enjoy when Harold presents because he is very honest and fully discloses the realities of starting new technology companies. He could have tried to sell us on how great of an entrepreneur he is, or how great of an attorney he is, but he was very forthright about his experience, and very willing to answer questions. It’s a great opportunity to have some sort of access to a guy like this, who has experience and is trustworthy.
I think he touched on good points about how some things, like equity ownership division among team members, have to be re-negotiated and adjusted, and it’s not just about contracts. This is the perspective of an attorney, who could shroud his opinions in legal-speak, but instead acknowledges that to get things done, people have to be reasonable. What did you think?
There is a lunch talk (1.5 hour event) in St.Paul this Friday, about an interesting topic: How to protect an idea/IP and still collaborate with people to build a startup?
Event : IP/Startup Chat #1: Inventions – Secrecy or Collaboration (or Both)? with Ernest Grumbles
Date : Friday, March 12, 2010
Time : 12:00 PM -1:30 PM (lunch at 12, talk begins at 12:30)
Cost : Free, But you have to get a ticket here
Where : The 3rd Place, 2190 Como Ave, Saint Paul, MN 55108 Map
Lunch from “Freaky Fast” Jimmy John’s included. (Yes, there is such a thing as a free lunch!)
More Information:
Intellectual property laws often demand that inventions be kept secret. Think of the law of patent and trade secret. There can drastic consequences if you let ideas out of the box at the wrong place or time (such as loss of patentabilty). But there are drastic consequences of secrecy as well as in: no one can help you develop the idea and no one may ultimately care. Balancing the goals of secrecy and collaboration will be the main topic (of debate and discussion).
Presented and sponsored by Ernest Grumbles, an IP/Startup lawyer with Merchant & Gould and Co-Founder of MOJO/Minnesota, a collective fomenting innovation in Minnesota.
Hosted by The 3rd Place, a startup friendly coworking and collaborative space in St. Paul.
Ticket required. Space is limited to 20 – Register HERE
P.S. – Drop me an email, if you are interested to join me – teraom [at] teraom {dawt} com
We would like to give you some time to work on the feasibility report and presentations. Do you think we should shift the report and presentations to after the Spring Break? We can have a session before the Spring Break on licensing or startups and other strategies to improve appropriation.
This headline is likely to boost NewWater, a group based on UMN technology from last year’s class. A new study relates to the problem that NewWater helps to solve: concentration of the herbicide atrazine in runoff. The study is one more piece of evidence that their team can use to support their claim that there really is a problem. Read about it, today’s USA Today article, “Tap Water contaminant ‘castrates frogs” or MoneyTimes article “Weedkiller atrazine alters sex of frogs“.
Designed to be an “open-source” learning resource for entrepreneurship. An important part of MGMT 4080, which brings together technology and business school students to turn technology ideas into viable businesses.
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class. A new study relates to the problem that NewWater helps to solve: concentration of the herbicide atrazine in runoff. The study is one more piece of evidence that their team can use to support their claim that there really is a problem. Read about it, today’s USA Today article, “
