2. בסד Privacy Restored.™ 1 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. RESEARCH CONSULTING Entrepreneurial Computer Science Yonah Alexandre Bronstein, PhD alex_bronstein@ieee.org Session 5

3. בסד Privacy Restored.™ 2 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Session Outline Administrative Stuff Overflow from prev. session: Patents Homework Check? Chapter 4: Art of Writing a Business Plan & Executive Summary…

4. בסד Privacy Restored.™ 3 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Administrative Stuff Class List: Project decisions made? I’ll build my list from emails (rather than University provided list) Memory is still my weak point… … so come see me at office hour!

5. בסד Privacy Restored.™ 4 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Patents… General concept of IP protection Provisional vs. with-Claims ‘Patent Pending' vs. ‘Patent Number,,,' US filing vs. Israel filing PCT & International Extension Pricing (initial & on-going prosecution, pre- vs. post- investors) Personal Experience: ASTAV…

6. בסד Privacy Restored.™ 5 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Homework check… Half way there… For Next Session? “The Project”: 1 st draft of Investor pitch ( ok) “The Art of the Start”: prepare Chapter 4 Students’ turn…

7. בסד Privacy Restored.™ 6 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Ch.4: Writing a Business Plan Note: smallest chapter in the book (BP isn’t critical to investor decision making usually) Plan is grown from Pitch (not the other way around) Most important is the first page: Executive Summary (often distributed “stand-alone”)

8. בסד Privacy Restored.™ 7 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Ch.4: Exec. Summary 1 st page of the plan  CV (Resume) of the Company Determines –Whether people will read the rest of the document –Whether people will give you an interview/initial meeting Needs usual mix of useful facts & emotion generation A good writer (like a journalist or novel writer) can help… Remember ASTAV’s lawyer’s advice: “Assume executive summary will end up on competitors’ desks.”

9. בסד Privacy Restored.™ 8 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Ch.4: Rest of Bus. Plan Short (max. 20 pages) Written by one person (team thinking, articulated by one voice) Bound by a staple (most people want electronic or faxed version) Simplify financials to two pages Include other key metrics (number of customers, locations, resellers) List underlying assumptions (  most useful conversation with experienced investors/VCs)

10. בסד Privacy Restored.™ 9 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Ch.4: CS Angle? Where architectural wisdom starts to show –Scalability –Speed of Implementation –QA/Testing strategy As well as interplay between technical and business –e.g. Open-Source vs. Proprietary –3 rd party dependencies/licenses –ADOPTION issues (thought through?) What could go wrong? –And what would you do about it?

11. בסד Privacy Restored.™ 10 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Ch.4: Right Numbers 5 years is standard, even though later years are not believed by anyone Monthly precision up-front (funded part), quarterly estimates later Investors want to understand –How much total money will be needed until company can survive on its own? –How is this round of money going to be spent? Different investors/VCs have different taste…

12. בסד Privacy Restored.™ 11 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Ch.4: Right Reasons Plan supports investor’s decision, but doesn’t cause it. Forces the founding team to work together –Helps find and work out overlooked issues –Helps form a strong and cohesive team –Helps discover who should not be on the team… “In preparing for battle, I have always found that plans are useless, but planning is indispensable.” Eisenhower Writing clarifies Thinking (and gets everyone on the “same page”) “Write Deliberate, Act Emergent”

13. בסד Privacy Restored.™ 12 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Ch.4: Real Examples ASTAV 05 ASTAV 08 (investor conference format) Cosmetic Company 1 Cosmetic Company 2 Go to investor/angel conference (usually cheap if you’re not presenting) and learn…

14. בסד Privacy Restored.™ 13 ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION. ©2008 ASTAV, inc. – Confidential & Proprietary – Contact Research@ASTAV.net for pricing. Q & A ? Just a few TBDs from starting… For Next Session? “The Project”: Executive Summary – and send in drafts of everything as MID-TERM by Thursday May 17, midnight! “The Art of the Start”: prepare Chapter 5