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Cooper Union

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Mia Zuanic

on 6 May 2015

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Transcript of Cooper Union

# of active coaches/mentors
Average no. of mentors per team
Quality of coaching/mentoring
Incubator collaborative atmosphere
Amount of funding raised – monetary/in-kind
# of patents filed
# of sponsors
Space utilization rate
Start-up satisfaction

# of jobs created
Follow-up funding
# of active companies
Revenue per company
Average company age
Average funding per company
# of applicants
Acceptance rate
Track progress of rejected applicants

LSU Business & Technology Center
Tech Stars

General Info:
Main purpose: product development  innovation process, societal impact
Target audience: For senior students in business, engineering, industrial design, visual communication design
Duration: 2 semesters of researching and refining

• What is especially interesting?
They find partners/sponsors for every idea their students have and way to fund project/student’s ideas
Special benefits for partners (like P&G, Intel, Disney, etc.): extension of R&D department, exploration of underserved markets, infusion of entrepreneurial passion

• Funding:
Program: Internal University resources
Project: funded through sponsorships from partner companies

Address seed stage investment gap
Catalyze a start-up renaissance – challenge old conventions and create new value
Global and cross-cultural participation

Action Project Gather Intelligence


Define the challenge

Determine industry attractiveness

Company analysis

Stakeholder analysis

Competitive landscape

Moving forward
Program checklist
Our Team
Defining the Challenge
Create a program for Cooper Union students to further develop their ideas
Establish a reputation for producing inventors
Connect Cooper Union students to the NYC tech community
Best program in the nation, fill the gap
Be revenue neutral/positive within two years
Cooper Union
Thank you.

Any Questions?
Attractiveness of the Market
positioning and differentiation

identifying a niche segment


relevance to target audience

awareness building

value added

Leveraging on the Cooper Union‘s brand, its tradition and network will be the first step in gaining competitive strength.

Major Trends
Company Analysis
History and tradition adds to high brand equity
Prime location
High achieving alumni community
Diverse and high-quality student body
Strong supporter community
Increasing demand for higher education, 9.4%, in the next 5 years
1.22% increase in willingness to spend on education in the next 5 years (New York City households)
Trend in high-tech start-up launches adding to computer-science program
Tapping in the educational incubator segment
Competition from other schools targeting the same student segments - especially in NYC
Increasing number of educational incubators and launchpads
Economic uncertainty - possible effect on endowment fund

Financial situation
Conservative mindset of students and faculty
Uncertainty in value proposition
Lack of resources to support students in developing ideas
Reduced flexibility due to high number of stakeholders

Stakeholder Analysis
Opportunity to further develop their own ideas
Apply theoretical knowledge
Being recognized as an inventor
Get entrepreneurial experience

Professional community
New generation of inventors
Increase awareness of incubator programs
Generate more support of the gov

Social community
Increase value of neighborhood through inventions and new businesses
Actual business launches: need materials, space, etc.
safety, environment
Increase the value of their degree and reputation of the school
Opportunity to realize their own ideas - be part of 'it'
Additional experience in entrepreneurship
Extent network
For supporters: value for money

Prestige of the employer
Need to change student's mindset
See progress of students
Be part of something "new"

Venture Capitalists
Access to investment opportunities
Launch CSR activities
Support inventions that will be the 'next big thing'

• Complex & widespread competitors

• Direct & indirect Players

• Three-step initial process

Competitive Landscape
Positive Key Findings

New York City
Government Based
what we liked
Arizona State University: Integrated in the curriculum, partnerships

Georgia Tech: High competition challenges that spark innovation

Incubus London: Innovative, non-tradition and cost-effective work space (Double Decker Bus)

Tech City UK: Jump-off incubation cluster

TechStars: In-kind donations and debt-conversion

LSU: close partnerships with both Louisiana state and federal
Define the focus of
the program
Define the positioning of the program
Determine the resources required, methods and cost to acquire them
Confirm understanding of customer needs
Deepen our understanding of the competition
What's Next?
Incorporate the “Nice-to-haves”
Define criteria




Identify best practices and concepts
Analyze sub-sectors
Start X Accelerator Program @ Stanford: Program open to alumni, successful conference program
Revenue neutral

CU related topic

Located in Manhattan

Early stage incubator

Space to allow students to work on their ideas
Revenue positive

Close to campus

All students and public participants

Full-fledged incubator

Multipurpose use of space to generate more revenue

Establish partnerships with govt, VC's and companies

An extension of the invention factory
MassChallenge: Mentors on a volunteer basis
Hive at 55 (Manhattan): Internal community of peers

Quirky: Marketing and commercialization

LaunchPad: Provides “Demo Nights”, personal development courses

Centre for Social Innovation: Similar long-term goals with CU to better society, volunteers compensated with use of space

• Funding

• Offering

• Sponsorships

• Applicability

• KPIs

NYU Poly Varick Street: High level of NYC partnerships
Team 1
Our Team
B.A. in Art History
M.A. in Visual arts
Experience in Marketing
Skills: graphic design,
advertising, marketing
Interested in: Combining art and business

B.A. in Government, English & Spanish
Skills: Grant Writing, Non-profit management & Project Management
Interested in: Change management and International Business Development
BA: International Business
Skills: Financial modeling and budgeting, brand and business valuation .
Interested in : Investment banking and Consulting

Key Performance Indicators
Interesting Competitive Models
Innovation space
Bridging the gap
501c3 non-profit, no equity taken
Competition amongst start-ups for prize money
Strong mentorship
Chief Mentorship Officer
“Mentor matching” events
Average 3.6 mentors per startup
Volunteer basis mentorship – 351 active mentors

Program operating expenses funded entirely with grants and sponsorships
Annual prize money $1 million, in-kind resources $10 million

Founded by Industrial Design, Business, Engineering, Visual Communications Design faculty
Distinct Innovation Space management team
NYU Poly
Strong emphasize on innovation enhancing social environment
Part of the curriculum (2 semesters – senior students)
Encouraging cross-functional knowledge exchange amongst students
Strong corporate partnerships
General Info:
Location: Baton Rouge, Louisiana
Created it's own Innovation campus in 2005
Ranks among Top 10 Entrepreneur programs in the USA
Brought more than $163 million in equity, grants, and loans to LA since 1988

What is especially interesting?
Highly successful utilization of alternative funding models and working with state/federal grants and investments
Participates in several ongoing government programs at local, state, and federal level year after year

$1 million in grants alone over last 5 years through grant-matching programs between state/federal bodies
LSU employs many mentors, while others trade mentoring and facilitating for using the research campus
Program funding: budget allocation from all three participating ASU institutes (Herberger Institute of Design and Arts, Ira A. Fulton School of Engineering, W.P. Carey School of Business)
Project funding: corporate sponsorships
Tech City UK
Innovation process
Product development
InnovationSpace @ ASU
Societal Impact
Center for Social Innovation, NYC
• General Info:
Main purpose: enhance society, create a community, non-profit
Combine bits and pieces of different systems: co-working space, community, Launchpad

• What is especially interesting?
Community animator: volunteers as facilitator for the location in trade for space
High focus on community and its advantages like sharing ideas, crowd sourcing etc.

Program: Renting out space – customized (rent a desk for 25h/month, or an entire private office or just a space in a desk with 6 other people), “Subscribe” and pay a monthly fee for being a member, having access to meeting space, coffee areas and getting invitations to special events
Project: no project funding available

General Info:
Location: Boston
Main purpose: catalyze a startup renaissance, address seed stage investment gap, open to all early stage startups, regardless of industry or geographical region, accept entrants even if startup is in idea phase
Duration: 4 month

What is especially interesting?
501c3 non-profit - no equity taken
128 startups
Competitive model for a fixed pool of prize money
All mentors are volunteers

Program expenses: Foundation and corporation contributions, government contributions, individual contributions, in-kind donations
Prize money: $1,000,000 in grants to 10-20 startups in amounts of either $100,000 or $50,000. Additional prizes sponsored by organizations that award projects relevant to their area of interest. E.g. $600,000 CASIS Prize for Technology in Space

General Info:
Location – Long Island
24/7 access
34 min. from NYC
Professional service support

What is especially interesting?
Personal development courses
“Demo Nights”

Partnership program’s
General Info:
Location: Near Stanford University
Main purpose: To accelerate the development of Stanford's top entrepreneurs through experiential education
Target audience: At least one member of team to have Stanford affiliation, open to all industry

What is especially interesting?
Applicants can include Stanford students, alumni and even faculty members
“Demo Day” - numerous top-tier investors, angels, corporate representatives, and press
Provide needs based financial aid to pay for housing and food expenses
Entrepreneurs in Residence (EIRs)
“Visiting Founders Program” – allow non-Stanford affiliated applicants, run only during the summer, needs-based financial aid available to help with relocation expenses

Program expenses: Foundation grants and corporate partnerships , $100,000 in resources
Project: Startups raise money from VCs, angel investors, corporations

Incubus LDN
Retains 90% of product price, but offers a payout after the 75$
B.A. in Business Administration and Marketing
Skills: Project & event management, business analysis, stakeholder management
Interested in: Combining innovation and marketing
BS in Commerce, Major in Advertising
Skills: Integrated Marketing Communications, Market Research, Media Planning, Creative Writing
Interested In: New Business Development, Market Development
Georgia Tech
General Info:
Located on the Georgia Tech campus at Atlanta GA.
Incubator already launched 303 start-ups
Ranked #2 incubator in the USA

What is especially interesting?
High competition challenges• Different programs for different levels of education
Each week presentation of current results

More than $1.1 B in outside capital
General Information:
Location: Boston, Austin, Boulder, NYC, Seattle, London
13-week program for start ups
1% Acceptance Rate
92% success rate of companies who complete program

What is especially interesting?
Utilize both financial and in-kind donations
Big Name sponsors such as Amazon, Intel, Dell, Verizon & American Airlines
Program is set up by VCs, and creates a network for VCs for participants

Equity, debt-conversion, and in-kind donations
Provides office space and $18,000 in exchange for 7-10% equity
75 VCs pool together $100,000 convertible note, which is eventually converted into equity after follow-on investments (Series A)

Bridging the gap
Initially created for undergraduate dropouts ages 18-25.
3-step development program

Pitching Tours around UK
to business networks
Three-Step Program

Personal Development

Product Development

Business Development

Innovative Working
Space in a renovated
London Double Decker
Cost of Program:£1500
Partnership with KPMG, Rackspace, Paypal, Deloitte, EE, Natspace
Use of facility for events, popup shops, code clubs

General Info:
Incubator cluster extending from Central to Eastern London
Strategically surrounded by educational, financial and technological institutions and is the 3rd largest startup ecosystem in the World.
Startup Breakthroughs: Naked Wines, Skyscanner, Mimecast
Hosts the Internet of Things Launchpad Competition

What is especially interesting?
Projects which forge business alliances and engage support networks:
Tech City

UK Cluster Alliance
The Future Fifty
Established relationships with the biggest names in UK Accelerator Groups such as
Seedcamp, Techstars, Ignite and Oxygen

Funding from Corporations: Unilever, KPMG, Redgate, Cisco, Reedsmith
General Info:
Location NYC (Manhattan, Brooklyn)
Started at 2009
Created 900 jobs
Generated $251.2MM for 4 years
Excepted funds growth rate 147%
Currently 59 tenants
35 tenants already graduated
What is especially interesting?
Strong partnership with NYC
Project based incubator
Provides flexible work and meeting space

More than $60 MM currently have been raised by tenants from outside funding
B.A. in Econs (Business Studies)
Skills: Financial planning and analysis
Interested in: Asset management, Real Estate Investment

General Info:
Founded by Rishi Chowdhury and George Johnston in London
Follows a holistic program model for their enrollees ages 18-25 years old
Program span ranges from three to six months
What is especially interesting?
Innovative working space inside a renovated London Double-Decker Bus
Courses include: Personal Development, Product Development and Business Development
Goes on "Pitching Tours" around the UK to investor networks
Program is charged at £1500
Partners: KPMG, Rackspace, Natwest, EE, Deloitte, Rackstar Youth, Paypal
Multipurpose facility for events, pop up shops and local food startups
Fund Availability is up to £500,000
Hive at 55
General Info:
Located in Lower Manhattan
Announced by mayor Mike Bloomberg in July 2009.
Workspace and community for entrepreneurs, start-ups, small businesses and freelancers
What is especially interesting?
Rather than a mentorship program, it offers a community of peers as guidance.
It also provides with desks, printers, wireless internet, conference rooms and hosts worksops and seminars.
Month-to-month memberships
Different memberships with different priority and prices
General Info:
Start-up that collaborates with inventors, and through enhancing, branding and pricing helps put the invention on the shelf
What is especially interesting?
High level of involvement in the product improvement process.
A very inclusive community that reviews ideas and gives feedback to inventors even if the product isn't chosen for development
Akhil Nigam
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