1. UMSI Entrepreneurship 2016 Winter UMSI 363 Class #9 Nancy A. Benovich Gilby Ehrenberg Director of Entrepreneurship Clinical Associate Professor School of Information 650-539-8376 nabgilby@umich.edu

2. Today 1:10 – 1:15 Preparing presentation and Demo –BACKUP slides in appendix!! –Class Wrap UP 1:15 – 4 –Lab – Work on your app, slides for the demo that you will record, (BEFORE AND AFTER USER SCENARIO) –STANDUP - review presentations for next Friday –QUIZ #12 is worth 10 points open until 4/22 – fill out survey’s Last 2 classes! NEXT WEEK ENGAGEMENT CENTER

3. Team Project Overview 1.Form your team, establish ground rules, Interviews round 1 2.Review Customer Development Round 1 and Potentially Pivot, Competition, Market size 3.Review Customer Development Round 2, Pivot? 4.Review Customer Development Round 3, Pivot? Skeleton of Swift App 5.KJ Affinity Diagram, Design Thinking for initial brainstorming, wireframe, xcode storyboard layout to wireframes, test with users 6.Elevator Pitch, Business Model Canvas 3, backend, build app scaffolding, 7.Pitch video, Revise MVP 8.All teams pitch and review in standup, MVP prototype 9.Pitch and demo to VCs, Executives, Entrepreneurs Project Week:

4. SUBMITTED, GOING TO JUDGES TONIGHT: Your VIDEO Presentation Format (5 Minutes) http://www.sequoiacap.com/grove/posts/6bzx/writing-a-business-plan We like business plans that present a lot of information in as few words as possible. The following business plan format, within 15–20 slides, is all that’s needed. 1.Problem Describe the pain of the customer (or the customer’s customer), with an actual “user” tell a story Start a user scenario (STORY), use quotes Outline how the customer addresses the issue today. 2.Solution –Show your company’s value proposition to make the customer’s life SIGNIFICANTLY better –Continue the scenario, have use cases. 3.Why now –Set-up the historical evolution of your category. –Define recent trends that make your solution possible. 4.Market size (SHORT) –Identify/profile the customer you cater to. –Calculate the TAM (top down), SAM (bottoms up) and SOM. 6.Competition Matrix, Describe Landscape Show competition matrix List all your competitive advantages 7.Why you as a team believe (or not) KJ, quotes, What you’ve learned 8.What’s Next and Team. Company timeline with development roadmap Founders, why great team

5. FOR THE JUDGES: Presentation Format: 4 Minutes 1.Company Name, ELEVATOR PITCH Introduce the company with your elevator pitch 2.KJ We did X # of interviews, processed and prioritized what we heard and shared this diagram back with our target users for feedback” SLIDE with LARGE picture of your KJ Walk through KJ, emphasizing top 3 problems 3.DEMO (recorded on video, link in PDF) –REMEMBER: user scenario with problem from video –Now we will show you how we addressed “KJ SUMMARY STATEMENT” –Run through user scenario, POINT OUT WHERE YOU ADDRESS TOP 3 PROBLEMS 4.Summary: –You saw how we addressed “KJ SUMMARY STATEMENT” –Sum up your product with a BANG the judges will remember (Why the time is now, why this is UNIQUE, why you are the only team who could possibly do this…) 5.QUESTIONS FROM JUDGES: –Have backup slides ready!!! Presentation must be saved & uploaded as a PDF ONLY!! MUST HAVE A SCENARIO

6. Final Project Demo 4 minutes Slides with KJ + demo: I am timing, my buzzer will ring loud and be annoying 5 minutes of questions/feedback from the judges

7. There must be a clear story that you walk through seamlessly in your final Pitch & Demo Incorporate an opening scenario, which sets an urgent narrative, then follow that scenario through in your demo Remember, the most convincing presentations and demos (convincing that your team and your proposition is most likely to be used and to make an impact on those users) will be scored the highest. Make your presentations as indisputable as possible......QUOTE YOUR USERS!!!....use them in building your case!!!

8. Final Project: Demo You must be able to adequately demo your value proposition It must be CLEAR what your top (3 at most) problems/meaningful items were from your KJ and specifically show in your demo how you are addressing them You must use a SCENARIO/STORY not a list of features!!!! EVERYTHING else is gravy, you can have dummy screens, dummy data etc etc etc, this is NOT a fully working, ready to hand off MVP

9. Questions: Again, BE CONFIDENT BUT NOT ARROGANT If they ask something you don’t have a details for, GRACIOUSLY say we haven’t covered that yet in detail but you’d love to get back to them when you do for their feedback AND/OR What do you think yourself about “the question they asked”

10. Final Project: Demo/Swift Code Requirements You will submit by 4/23 a working Demo Requirements for SWIFT Final project 1.At least 4 screens with segues 2.Takes information from Parse, puts it on the screen 3.Modifies information and saves to Parse 4.At least 1 working control with an action

11. Remember Shark Tank Videos!!! No fidgeting, hands visible, palms up, gesture, gesture, gesture Calm, confident, demeanor (pretend, what does a confident person look like, channel) Worried about # of customers, talk about your diligence to get data, even if not perfect target users

12. BACKUP SLIDES IN DECK Business model Canvases Scores (Importance/Satisfaction from Demo scoring) Market size WITH ESTIMATED NUMBERS Timeline (past and future milestones) Revenue Model Any additional info on competition

13. Assignments Notes TAM/SAM should have numbers 5 year revenue model: The point of the exercise was to figure out how to get to $100M in revenue in 5 years with assumptions to get there (multiple products, multiple geographies, both?) KJ Must have min 25 black postits, ONLY 3 in any group (3 black + red label) top 3 voted red level, red/blue levels, WHAT and SUMMARY statements The timeline should include past milestones (work you’ve done in the class as well as future milestones) Unsubmitted prior assignments, accepted/half points but must meet instructions exactly

14. What you’ve learned

15. Who is the FIRST target, specifically

16. Minimal Viable Product

17. IDEATION: Customer Development Customer Search Customer Validation ProblemsSolutions Week

18. Minimal Viable Product

19. What We’ve Learned Competency: Apply the core principles of innovation methods from Lean Startup, Customer Development, Crossing the Chasm and Agile Development in one of the following sectors: a for-profit business, non-profit, or cultural institution. Identify and develop innovation skills in Design Thinking, defining and testing a target market along with SCRUM Development from which to form and grow teams in order to achieve innovation success. Create a prototype service, product or process using the technologies or tools of their choice. Adaptively apply specific methods of innovation ideation, business/product/service development, and identifying steps for preparation for for-profit or non-profit incorporation. Take a leadership role in an agile software development process as the Scrum Master or Product Owner. Create a mobile app prototype (phone or watch) using iOS development tools and environment. Literacy: User test their prototype app. Conduct and present findings of competitive analysis and market sizing Develop a basic sustainability model Awareness: Identify pathways supported by the University of Michigan to continue developing their innovation.

20. Sample Wildfire KJ Diagram

21. QUIZ #12 (10 points due by 4/19) Fill out course evaluation https://ctools.umich.edu/portal/site/~nabgilby/page/f456c247-2f28-4d8c- 99bb-8a31f0445cd7 https://ctools.umich.edu/portal/site/~nabgilby/page/f456c247-2f28-4d8c- 99bb-8a31f0445cd7 Fill out Innovate Blue entrepreneurship survey https://umich.qualtrics.com/SE/?SID=SV_55VRzdaKZORiTwp The survey should take 5-8 minutes to complete. The content of the survey is almost identical to the pre-assessment we did a few months ago (main changes are to the tense of the questions). Again, the focus is on assessing the practica criteria/requirements, in addition to standard course evaluation questions (q1 - q4), plus some student-related questions. My plan is to develop reports for innovate blue internal purposes and for each of you. (I will get IDs that have submitted, not data for the feedback, submit that you’ve done it to canvas for points) https://umich.qualtrics.com/SE/?SID=SV_55VRzdaKZORiTwp

22. Thank you! Please find a way to “continue on” UMSI Entrepreneurship is here to help you!