Dobson Startup Bootcamp 2017
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Transcript of Dobson Startup Bootcamp 2017
Startup Bootcamp 2017
Maher AyariPresident, Student Executive Team
Startup Bootcamp 2017
Professor Gregory B. VitDirector, McGill Dobson Centre for Entrepreneurship
Startup Bootcamp 2017
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Or sometimes your baby is just ugly
PASSION
The 3 P’s (IDEA) & 3H’s (TEAM) of Entrepreneurship
HACKER
PROBLEM
PIERCING TECH-SCIENCE
HUSTLER
HIPSTER
Renjie ButalidMarketing & Operations Advisor
McGill Dobson Centre for Entrepreneurship
Startup Bootcamp 2017
Our entrepreneurship programs are supported by a strong McGill Entrepreneur, Alumni, and Startup Mentorship Network
125 Startupsactive today employing over
1,103 people
$35 million raised by our startups to date
as of 2016
2,200+ McGill entrepreneurs
mentored since 2009
Leading to 70xinitial funding provided
$500K in total initial funding for
McGill Dobson Cupsince 2009
87 judge-mentors actively involved in
McGill Dobson Cup every year
Entrepreneurship Programs
Our entrepreneurship programs are supported by a strong McGill Entrepreneur, Alumni, and Startup Mentorship Network
Innovation Driven EnterpriseSmall and Medium Enterprise
Social EnterpriseHealth Sciences
Over $100,000 awarded to McGill Startups
Innovation Driven Enterprise
Small & Medium Enterprise
Health Sciences
Social Enterprise
Key Dates for McGill Dobson Cup 2017
• December 18, 2016 – January 18, 2017:Applications Open
• February 14-‐17, 2017:McGill Dobson Cup 2017 Semi-‐Finals
• March 22, 2017:McGill Dobson Cup Finals• March 30, 2017: 2017 McGill Dobson Cup Awards Ceremony
www.mcgill.ca/dobsoncup
10-‐Week Summer Accelerator
Montreal | San Francisco | Boston
10-‐Week Lean Startup Program
2016-‐17 Entrepreneurship Events
• September 14, 2016: Innovating with Impact: Building Successful Businesses from Science-‐based Discovery
• September 15, 2016: Kickstart Innovation & Startup Matchmaking
• October 5, 2016: Social Entrepreneurship 101• October 12, 2016: The Future of Technology• October 19, 2016: The Science of Medical Startups• October 26, 2016: Social Entrepreneurship: The Next
Steps• November 9, 2016: Startup & Business Plan Writing
Workshop• November 17, 2016: Build a Startup with McGill
Technology• November 23, 2016: Building Startup Teams & Culture• November 25, 2016: Thinkathon 2016: Disrupt
Montreal• December 5, 2016: McGill Lean Startup Final
Presentations
• December 18, 2016 – January 17, 2016: Application Open for McGill Dobson Cup 2017
• January 7, 2017: Startup Bootcamp • January 11, 2017:What it takes to win the McGill
Dobson Cup • January 26, 2017:Women in Entrepreneurship• February 2, 2017: How to Pitch Your Startup Workshop• February 9, 2017: Public Speaking Workshop • February 14-‐17, 2017:McGill Dobson Cup 2017 Semi-‐
Finals• February 23, 2017:Market Research Workshop • March 7, 2017: Startup Financials Workshop • March 9, 2017: Startup Legals & Protecting Your IP • March 16, 2017: Social Media Marketing for Startups• March 22, 2017:McGill Dobson Cup 2017 Finals• March 30, 2017: McGill Dobson Cup 2017 Awards
Ceremony
For more information on our events, please visit: www.dobsonchronicles.com
2016-‐17 Entrepreneurship Events
Mentorship
Early-stage ideasdobsonset.youcanbook.me
Later-stage startupsdobsoncentre.youcanbook.me
Isaac SouweineGuest Speaker
Startup Bootcamp 2017
HOWI GOT INTO STARTUPS, AND HOW YOU CAN TOO
ISAAC SOUWEINE ENTREPRENEUR IN RESIDENCE @ REAL VENTURES
PA RT 1HOW I GO T
IN TO STARTUPS
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studentonline.com
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M Y P RO G RE S S IO N
studentonline.com
KE Y E P IS O DE S
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E P IS O DE 1
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A CHAN CE EN COUN TERstudentonline.com
E P IS O DE 2THE BIG LEAGUES
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E P IS O DE 3F ULL CIRCLE
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PA RT 2HOW YOU CAN
T OO
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S TAR T
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T IP #1SOM ETH IN G
TIP #2GET O UT O F T HE
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BU ILD IN G
TIP #3ASK FO R HE L P
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BU ILD
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T IP #4YO UR BRAN D
TIP #5
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TRUST YO UR IN STIN CT
THA N K YO U!
I S AAC@RE ALVE N TURE S .COM@SO NO F SARAH
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Today!
Startup Bootcamp 2017
Why?
Startup Bootcamp 2017
Why?
Startup Bootcamp 2017
Goals
Startup Bootcamp 2017
• Inspiration RoomOR
• Pitch Station
• Business Model Canvas&
• Pitching
Startup Bootcamp 2017
Pitch Station Inspiration Room
Format: 30 sec – 3min pitch in front of judges
Location: After the break wait outside Room 151
Format: Idea generation workshops & brainstorm
Location: After the break come back in Room 151
Startup Bootcamp 2017
Break
Startup Bootcamp 2017
Back at 10:45am
Inspiration Room
Inspiration RoomCommon myths about entrepreneurship
Inspiration Room2 Types of Entrepreneurship
Small & Medium Enterprise• Local Market
• Innovation is not a competitive advantage• Businesses with very little external capital
• Grows at a linear rate
Innovation Driven Enterprise• Global markets
• Company is based on some sort of innovation• Diverse ownership (external capital)
• Risky but potential for exponential growth
Inspiration Room3 ways to launch a business
Invention*Commercialization = Innovation
Try to learn as much as possible and be exposed to new things
New way to improve existing process
Inspiration RoomForming a Team
Hustler
Hacker
Hipster
Inspiration RoomBrainstorm the following:
Uber/Airbnb for… (pick one)
Flowers; Nightclubs; Laundry; Bulked goods; Doctors; Shipping; Laguage Tutoring; Group Fitness; Hotel Lounges; Truck Drivers;
Dog Walking; Beauty Services; Massages; Ice Cream; ...
Answer the following questions
What’s the problem you are solving?What’s the solution to that problem?
Who are the customers?How big is the market?
Why are you THE team that can make it happen?
#1 #2
#3
LunchUntil 1pm
Startup Bootcamp 2017
Renjie ButalidMarketing & Operations Advisor
McGill Dobson Centre for Entrepreneurship
Startup Bootcamp 2017
The Business Model Canvas
Innovation Driven Enterprise Small & Medium Enterprise
Health Sciences
1. Value Proposition2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Other Consideration
5-page business plan
Social Enterprise
1. Concept2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Social Impact8. Other Consideration
Innovation Driven Enterprise Small & Medium Enterprise
Health Sciences
1. Value Proposition2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Other Considerations
5-page business plan
Social Enterprise
1. Concept2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Social Impact8. Other Considerations
“A business model describes the rationale of how an organization
creates, delivers, and captures value”
In other words,
How do you plan on making money?
The Business Model Canvas is simply a tool to create & analyze business models
9 Building Blocks
Steve Blank page 57 of 212 4th edition Jan 2014
Business Model Canvas
Business Model Canvas: Apple
Business Model Canvas: LinkedIn
Phase 1Business Model Canvas
Phase 2TEST PROBLEM
Phase 3TEST SOLUTION
Phase 4Pivot or Keep going
What is a Value Proposition statement?• A short, memorable description of:
• what you do• what problem you solve• and why anyone should care
• Focused on your target customer• Based on a deep understanding of their problem / job they are
trying to accomplish• It should evoke emotion in your target customer• Your target customers should just “get it” and say “tell me more” • Your target customers should paraphrase your value proposition to
describe you to others
Why do you need one?
For the marketplace• The description that attracts your target into your sales funnel,
creates excitement and gets people to pay attention
For investors• The description that tells investors that you have a focused and
clear understanding of the customer and the problem you can solve, and that it is significant and worthy of investment
For yourself• Your mission statement that clarifies why you exist from a
customer’s perspective
The problem if yours sucks
Customers and prospects• Won’t understand what you do• Won’t be able to differentiate you from your competition• Won’t care
Investors• Won’t be convinced that you understand your customer• Won’t be convinced that you have a focused approach to the market• Won’t be convinced that you can make them money
You and your team• Won’t have a clear sense of mission• Won’t understand why you exist and will therefore oscillate around strategy
How to create an awesome value proposition
Always start with the customer
• Make sure you have a deep understanding of exactly who your target customer is
• Make sure you deeply understand what their problem is and how much pain it causes
• Make sure you know the level of motivation they have to seek out your solution
If you are struggling… … to create an awesome value proposition
• Maybe you don’t yet really understand your target customer
• Maybe you don’t really understand their problem/job and motivations
• Maybe your solution isn’t fully formed• Maybe you haven’t figured out how it benefits your
customer• Maybe your business needs to pivot
Steve Blank’s XYZ
“We help X do Y doing Z”
“We help e-commerce websites increase their sales through A/B
testing, surveys and personalization.”
Geoff Moore’s Value Positioning Statement
For______________________________(target customer)
who______________________________(opportunity)
is a ______________________________(company name)
that ______________________________(benefit statement).
Dave Cowan’s Pitchcraft
(Your solution to market need) and our product is (use metaphor for something people already know).
We are bringing trust to cyberspace, and our first product is a Driver’s License for the Internet.
Eric Sink’s Value Positioning
1. Superlative (“why choose this product”).2. Label (“what is this product”).3. Qualifiers (“who should choose this product”)
The most secure payment gateway for mobile e-commerce.
Venture Hacks’ High-Concept Pitch
[Proven industry example] for/of [new domain]
AirBnB for office space (Breather)The Walmart of health food stores.
Renjie [email protected]
McGill Dobson Centrefor Entrepreneurship
www.mcgill.ca/dobson
dobsonchronicles.com
Break
Startup Bootcamp 2017
Finalize your pitch!
• Problem• Problem Size• Solution• Market Size• Competition• Team
• Call to ActionStartup Bootcamp 2017
Pitching!Provide feedback !
Fill out the following:
• Name of the startup/person:
• Provide positives (+):
• Things you would change:
• Additional questions/ideas:
Startup Bootcamp 2017
Thank you to the entire Student Executive Team, Carol Clelland, Renjie Butalid, Professor Gregory Vit and Isaac Souweine
Positions available in the Student Executive Team!Come talk to us!
What’s Next?
• What it takes to win the McGill Dobson Cup: Jan 11th
• Apply to the McGill Dobson Cup 2017: Deadline Jan 18th
• Women in Entrepreneurship: Jan 26th
• How to pitch your startup: Feb 2nd
• Public Speaking workshop: Feb 9thand much more!
mcgill.ca/dobsonwww.dobsonchronicles.com
Startup Bootcamp 2017