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Presented to: VU-BME272 Sep 19,2000. Ideas, Business Plans, and Entrepreneurs. by Bob Allen, Calley Hardin & Paul Clayton. Nova Bionics, Inc. Nashville, TN. or. Perils, Pitfalls, and Pleasures of the Entrepreneur. Discussion Topics. Ideas and where they come from

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Presented to: VU-BME272 Sep 19,2000

Ideas, Business Plans,

and Entrepreneurs

by

Bob Allen,

Calley Hardin & Paul Clayton

Nova Bionics, Inc. Nashville, TN


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or...

Perils, Pitfalls,

and Pleasures

of the Entrepreneur


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Discussion Topics

  • Ideas and where they come from

  • Micro-LIDs™ and Micro-SLAMs™

  • Business Plans and why we need them

  • Entrepreneur wisdom

  • VU graduate’s perspectives

Sep 2000


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Ideas are…

Idea Overview

  • The product of mental activity and imagination

  • The basis of creativity

  • The result of reason as opposed to perception

  • A plan of action or a path to follow

“Ideas are like rabbits, you get a couple and learn to handle them and pretty soon you have a dozen.”

…John Steinbeck

Sep 2000


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Micro-LIDs™ to Micro-SLAMs™

1966 LID Semiconductors

  • Very small size and weight

  • Ultra reliability

  • Eliminate custom charges

  • Cost-quantity advantage

1992 Micro-LID™ Arrays

  • Multi-chip semiconductors

  • High density-surface mount

  • Biomedical industry need

1999 Micro-SLAMs ™

  • Near chip-scale (85%)

  • Reduced height

  • Custom configuration


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Micro International, Inc. Nashville, TN USA

What are Micro-LIDs?

  • Acronym: LID- Leadless Inverted Device

  • Leadless, ceramic, surface mount semiconductors

  • Very small size and low weight

  • Environmentally rugged - wide temperature range, high shock/vibration, etc.

  • Excellent radio-frequency characteristics


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Micro International, Inc. Nashville, TN USA

What are Micro-LIDs?

  • Single-chip and multiple-chip format

  • Replaces circuits containing 2-8 individually packaged semiconductors with a single surface- mountable component

  • Originally pioneered by NASA research engineers in the 1960’s (R.V. Allen, S.V. Caruso)

  • Niche markets which have over-riding needs for ultra-reliability, small size, and low weight


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Entrepreneur Wisdom Says...

Do not check your mail while on vacation or the day before you close on your new house.

December 29 1998...


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Entrepreneur Wisdom Says...

Never give up... Problems only create opportunities

Major customer facilitated problems force rapid, widespread, and long-lasting solutions

..... Always Maintain the Chase


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Micro International, Inc. Nashville, TN USA

What are Micro-SLAMs?

  • Acronym: SLAM- Surface Level Active Microcircuit

  • Near chip-scale leadless, ceramic, surface mount semiconductors

  • Ultra small size and low weight

  • Environmentally rugged - wide temperature range, high shock/vibration, etc.

  • Replaces circuits containing 4-16 individually packaged semiconductors with a single surface-mountable component

  • Technology provided as a “merchant” component product line by Micro International and Quadtron


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Micro International, Inc. Nashville, TN USA

Hex Zener Assembly

  • Micro-SLAM

    • .080” x .090” x .040”

    • 7,200 sq mils

  • Micro-LID

    • .160” x .090” x .055”

    • 14,400 sq mils

Size Reduction 50%


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Micro International, Inc. Nashville, TN USA

Quad Diode Assembly

  • Micro-SLAM

    • .055” x .070” x .040”

    • 3,850 sq mils

  • Micro-LID

    • .160” x .090” x .055”

    • 14,400 sq mils

Size Reduction 73%


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.090 x .160

.060 x .090

.100 x .120 per diode

.040 x .075 per diode

Quad Diode Array Reduction

Single Leaded Diodes

Single Micro-LIDs

Multiple-chip Micro-LID

Multiple-chip Micro-SLAM

Multiple-chip Micro-SLAM assembly reduces component square area by 88.75% over single leaded diodes.


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Entrepreneur Wisdom Says...

Know whether you are going up or down the entrepreneur hill and be prepared to give up TOTAL control to expand your resources

Teamwork Limits Myopia...


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Entrepreneur Wisdom Says...

Avoid passion driven pleasures in uncharted waters and isolated islands

Carefully Verify New Markets...


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Micro International, Inc. Nashville, TN USA

Direction & Decision

  • To provide higher value-added micro-components and assemblies for biotelemetry products

  • Natural high reliability application of micro-components

  • Opportunity to modernize factories and relocate them to Nashville

  • Broadens recognition among customer base and the technical community

  • To become intimately involved with new VU facilitated biomedical initiatives (VU Office of Enterprise Development)


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Philosophy

  • Deal Model

    • Build on existing ideas

    • Catalyze new ideas

  • Participate in “Vision” Creation

    • Strategy

    • Structure

  • Involve Student Interns

    • Due Diligence

    • Deal Evolution

Sep 2000


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Investment Parameters

  • PRE-SEED CAPITAL

  • Up to $300,000 per project

  • No matching funds required

  • Use:

    • Due Diligence

    • Business Plan

    • Recruit Management

    • Reduction to practice

    • Proof of principle

    • Alpha Demo

Sep 2000


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Investment Parameters

  • SEED CAPITAL

  • Up to $2M per project

  • At least a 50% match from third-parties

  • Use:

    • Establish Business Infrastructure

    • Refine Technology and Product

    • Initiate Regulatory Approval

    • Marketing & Sales

    • Working Capital

Sep 2000


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Portfolio – Seed Deals

  • MXISystems, Inc.

    • Monochromic X-Rays

    • Imaging (Medical, Industrial, Proteomics)

  • WebEBM.com

    • “Evidence Based Medicine”

    • University Consortium

    • Multiple Revenue Model

  • Cardiovascular Services of America, Inc.

    • Outpatient Cardio Diagnostic & Treatment Facilities

    • EBCT Imaging

    • Disease Management/Wellness

Sep 2000


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Portfolio – Pre-Seed Deals

  • IS², Inc.

    • Medical IT Software Product Line

    • Consulting & Integration Services

    • ASP Applications

  • Nova Bionics, Inc.

    • Electronic Medical Devices

    • University Middleman for Devices

    • Telemetry Products, 1st Domain

  • iTEACH.com

    • Vertical portal for the K-12 Teachers-Student-Parents Market

    • University Consortium

    • Revenues linked to Proven Results

Sep 2000


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Pre-Seed Deals (con’t)

  • American Graduate School of Management

    • Interactive, multimedia-based learning solutions

    • Global Executive Business Education

    • Customer – International Corporations

  • MicroArrays, Inc.

    • DNA chips – study thousands of genes simultaneously

    • Existing product line; e-commerce strategy

  • PharmaVU, Inc.

    • Vehicle for developing new drug candidates

    • Unique product acquisition strategy

    • Unique CRO Component

  • CET, Inc.

    • Bridge to SBIR/STTR Funding Resources

  • Consistently reviewing additional projects

Sep 2000


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I want to be a

sapling and grow

up to be a big oak

tree!

Little Nova

Papa Nova

Baby Nova

Dreams of a Pre-Seed

Sep 2000


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Entrepreneur Wisdom Says...

You can’t have a dream come true until you have a dream


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Company Description

Nova Bionics , Inc…

…was formed within the Vanderbilt Office of Enterprise Development to effectively commercialize biomedical device research, inventions, disclosures, and intellectual property developed internally or acquired from research universities, government laboratories, and individual inventors.

…is an incubator and idea processor for medical devices from concept to application.

TDR-2/08-30-00


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Mission & Vision

Mission Statement

To discover, develop, and commercialize biomedical devices with the potential to foster understanding of life processes, prolong life, or to improve the quality of life.

Vision Statement

To become a recognized leader in taking biomedical technology from concept to application.

TDR-2/08-30-00


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TECHNICAL

OPERATIONS

Technical

Advisory Board

R. Allen, CTO

Adm Asst (New)

Project

Engineer

Product

Design

Emerging

Technologies

Quality

Assurance

Purchasing

& Subcontracts

C. Hardin, Engr

P. Clayton, Engr

R. Allen

J. Jones, Mgr

T. Hazlewood, Mgr

  • Quality Control

  • Inventory Management

  • Shipping/Receiving

  • Engineering Documentation

  • Tech Support

  • Supplier Development

  • Advanced Concepts

  • Circuit Design

  • Software Interface

  • Bio-Sensors

  • Micro-Technologies (MCM/SOC)

  • Surgical Instruments

  • Component Suppliers

  • Contract Manufacturers

Nova Bionics Technical Operations


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Entrepreneur Wisdom Says...

Management commits to providing the environment for success and employees commit to having fun in their success


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www.novabionics.com

  • Home Page Internet

    • www.novabionics.com

  • Evaluator Intranet

    • Review ideas

    • Rate by category

    • Submit questionnaire

  • Administration Intranet

    • Log ideas

    • Assign Domains

    • Assign evaluators

  • Auto E-Mail Reminders

  • Evaluator Bulletin Board and Chat

TDR-2/08-30-00


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Alzheimer’s Memory Walk

NOVAFIND™

Caregiver

Peace of Mind

* Provisional patent and trademark under review.

TDR-2/08-30-00


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Long Range Tracking and Locating

Alzheimer’s Patient Location

Domestic Pet Protection

Home Confinement

Child Safety

0-9 Months

1-2 Years

2-3 Years

TDR-2/08-30-00


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Design Performance:

Long-Range Systems (Product Development)

  • Size: 12 mm x 12 mm x 4 mm

  • Range: 3-5 km

  • Micro-size, inconspicuous transmitter and pocket-size receiver

  • Defined zone alarm and location capability outside zone

  • Packaging / Configuration: per current projects by VU MT330 and BME272 students

TDR-2/08-30-00


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Road-map to keep focused

Explain what we do to the technically challenged!

  • Angel Investors

  • Venture Capitalists

Professional Services

Investment Needs

Business Plans and why we need them

  • Avoid being opportunistic

  • Bank Line of Credit

  • Insurance Ratings

Sep 2000


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Entrepreneur Wisdom Says...

One idiot can ask more questions than ten wise men can answer


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Executive Summary

Industry and Business Model

Business Plan Content

  • Organization and focus

  • Market opportunity

  • Competition

  • Management

Sep 2000


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Product, Technology and Capabilities

Financials

Business Plan (con’t)

  • Product background

  • Development status

  • Prototyping and Manufacturing

  • Quality documentation

  • Risk factors

  • Pro-forma Income Statement

  • Pro-forma Balance Sheet

  • Management and personal projection

  • Uses of capital

Sep 2000


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Entrepreneurs...

are better starters than sustainers

thrive on taking risks and living on the edge

always enjoy a good chase

are revitalized by recognition

don’t mind making severe sacrifices for future rewards


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Hands-on experience:

  • Job description is shaped as your talents are recognized.

  • It is up to you to optimize your strengths and admit your weaknesses.

  • You will gain experience in every facet of the business.

  • No task too big or too small, you do it all!!

  • You are a key player in every success and failure of the company.

Sense of ownership:

Responsible for your own success:

Why work for a start-up company?

Sep 2000


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Graduate School First?

Advantages:

  • More money $  $ (when you get out)

  • More focused learning in your specific engineering field of interest

Disadvantages:

  • Longer wait for real income

  • More focused means its harder to find your specific field

  • Miss out on real world things

Sep 2000


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