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EPSE Module 3 Guest Speaker

EPSE Module 3 Guest Speaker. 3/19/2012 Marty Staszak Science Experiment: “EPSE to Start-Up”. Introduction. Marty Staszak 28 years software engineering EPSE 2011 graduate At time, Sr. Director SW, Entropic Communications Left Entropic May 2011 Mission: start a company (HSA Protector)

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EPSE Module 3 Guest Speaker

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  1. EPSE Module 3 Guest Speaker 3/19/2012 Marty Staszak Science Experiment: “EPSE to Start-Up”

  2. Introduction • Marty Staszak • 28 years software engineering • EPSE 2011 graduate • At time, Sr. Director SW, Entropic Communications • Left Entropic May 2011 • Mission: start a company (HSA Protector) • Here to share my experience

  3. Currently • President and CEO, Voluware Inc. (healthcare IT) • Incorporated 12/29/2011 • Operating out of new downtown EvoNexus Foundry • Prototype stage with 2 customer stakeholders • Self-funded, looking for seed round

  4. Story Begins: EPSE • Loved it! Fantastic! Great experience! • Mod 1: It’s about people! • Mod 2: Respect for the C Office • Mod 3: Hunting and Gathering

  5. Why I Left My Job: PERSONAL • It’s all a big game, pick any hat! (Alan Watts) • Entrepreneurs Credo (Thomas Paine) • Rich Dad Poor Dad (Robert Kyosaki) • The PERSPECTIVE in EPSE (Liu/Despain) • Reached my own personal escape velocity

  6. Why I Left My Job: VISION • The “Software Age” is really just starting • Google, Apple, Microsoft • Massive companies, flush with cash • Software is where the action is! • Cloud, Agile, Open Source => technology accelerators • Low barriers to high valuations • Subscription pricing == continuous revenue • What the heck am I doing in a semi-conductor company anyway?

  7. HSA Protector => Voluware, Inc.

  8. HSA PROTECTOR Presentation to Investors 5/23/11

  9. HSA PROTECTOR Protecting the medical savings accounts of HSA subscribers so they can count on having assets for future health care needs

  10. Building health information exchange applications that improve patient outcomes and eliminate administrative barriers for care providers

  11. Reality • Resigned, last day on job: 5/18/11 • Made my HSA Protector pitch in class 5/23/11 • Met with Ken Liu in early June • Gave me honest feedback on gaps • Pointed me in the right direction, and • Realistically, you are about a year from seeing $$ from an investor…

  12. The Basic Problem • No Team… • No Customer… • No Product… • And: No health care experience or partner

  13. So What Did I Have to Work With? • Relationships! • Experience! • Ability to Tell a Story! • And a slew of books and podcasts for comfort since my family wasn’t talking to me anymore

  14. THE JOURNEY

  15. Consulting with Startups • CommNexus: pro-bono advice to startups • mywijjit: June ‘11, acting CTO • smart energy company startup • Perminova => July ‘11 Board of Advisors • cloud based healthcare startup • HealthLinkNow: Sept ‘11, acting CIO • telemedicine startup

  16. Convergence: November 2011 • The Shame on You Speech - Randy Smerik • The Engineer At the Door • The EvoNexus Foundry • The Partner, The Customer and The New Idea: HSA Protector => Voluware, Inc.

  17. Pitching the Company • Pitch to EvoNexus • Pitch to Wilson Sonsini • Pitch to EvoNexus 2 • Pitch to Silicon Valley Bank • Pitching to investors…

  18. Overview: Building a secure, cloud based healthcare coordination platform to address Prior Authorization workflow inefficiencies costing US healthcare $32B annually • Market: • Physician specialty practices who are required to obtain Prior Authorizations to provide services • Independent Physician Associations/Medical Group Directors responsible for managing utilization of services • Value Proposition/Differentiation: • Elimination of paper fax transactions • Web portal integration and credential management • Streamlined notifications, no more “time on hold” • ICD9/10 and HIPAA compliance • Payer/clinical authorization guideline integration • Authorization workflow analytics • Backend EHR and billing data integration • Key Team Members: • Marty Staszak, Founder & CEO • Software veteran near 30 years experience • Formerly: Intel, 3Com, Nortel, Entropic Communications and several startups • Acting CIO at telemedicine startup • Dr. Steve Kim, Board Member & Consultant • Children’s Hospital Los Angeles, Staff • Pediatric Urologist • USC Keck School of Medicine, Assistant Professor • Developing electronic care-coordination interfaces with IPA medical director • Financing: • Currently self funded • Looking for seed round

  19. Marty’s TAKE AWAYS…

  20. Perspective: Life versus Class • Class • It’s all here, though some things you’ll have to learn on your own • The biggest challenge for me was to overcome my own inertia • Especially roles and relationships (Watts) • Lean Startups and the Evolution of Traditional Business Thinking • Feld, Blank, Ries, Osterwalder, YCombinator, Tech Stars… • Amazing time to be starting a technology business • The Dolphin Community • Hard Questions • Founder's Dilemma - $ and Control • Delegation Dilemma - prioritization of effort • Compensation Dilemma • Devilish Details • Incorporating a company • What does a Board do anyway? • Bookkeeping and Taxes

  21. Perspective: Resources • #1: Your own imagination • The Lean Startup – Eric Ries • Venture Deals – Brad Feld • Four Steps to the Epiphany – Steve Blank • The Business Model Canvas – Alex Osterwalder • Do More Faster – David Cohen • Entrepreneurial Thought Leaders Podcast Series • marty@staszakcom.com • Always willing to help or answer questions!

  22. Q+A

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