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GE 393 RLP Business Plan Workshop for Technology Entrepreneurs Week 2

GE 393 RLP Business Plan Workshop for Technology Entrepreneurs Week 2. David E. Goldberg Department of General Engineering University of Illinois at Urbana-Champaign Urbana, Illinois 61801 deg@uiuc.edu http://www-bplan.ge.uiuc.edu. Recap of Week 1. What are goals of the course?

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GE 393 RLP Business Plan Workshop for Technology Entrepreneurs Week 2

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  1. GE 393 RLPBusiness Plan Workshop for Technology EntrepreneursWeek 2 David E. Goldberg Department of General Engineering University of Illinois at Urbana-Champaign Urbana, Illinois 61801 deg@uiuc.edu http://www-bplan.ge.uiuc.edu

  2. Recap of Week 1 • What are goals of the course? • Who are we? Who are you? • Prerequisites & seriousness • Course materials • Course schedule • An aside on IP & disclosure of ideas • Business concept selection

  3. Recap Week 1 (cont.) • Team selection • Course diary • Course grading • Sources of information • Forms • Concept selection

  4. Today’s Agenda • Recap key course procedures. • Agora: Matching concepts and teams • Team building: Ray Price • Concept selection: Courtney Price (no relation to Ray)

  5. Prerequisites • Formal: Junior standing or consent of instructor • Informal: GE 393 MJL, Technology Opportunity Assessment, TTh 4-5:20, 101 TB. • Ideally: Take tech feasibility plan and create full business plan • If not, extra reading and work for student.

  6. Seriousness • Engineering/science students think business courses are easy and not rigorous. • GE 393 RLP is rigorous. • Writing excellent business plan in 14 weeks is not easy. • We will be writing excellent business plans here.

  7. Business Concept Selection • Two types of concepts: • student-contributed • OTM or faculty-contributed • OTM & faculty-contributed to be distributed • Need form BC for student concepts today. • Need concept champions today.

  8. Team Selection • Teams consist of minimum of four (4) class members. • Team members not enrolled need to sign up for continuing education credit. • Next week will hold concept-team agora. • Match students to concepts.

  9. Agora • Concept champions will set up shop. • Students will read over concepts. • Students will talk to concept champions to try to enroll in teams. • Team of four can declare itself closed. • Concept champions can abandon idea. • Unclaimed ideas can be claimed by new champions.

  10. Agora Aftermath • Once teams settled, file form TS. • Members can switch teams (subject to minimum number) until week 5. • File form TS for any team change (members/names/concept). • Concept champion is not necessarily CEO. • Team organization between team & mentor

  11. Course Diary • All students required to keep course diary. • Official IP record (legal document). • Records progress and contributions. • Turned in at end of semester to mentor to help in mentor’s assessment.

  12. Concepts and Champions • Concepts and champions on web page. • Not fixed, can change. http://www-bplan.ge.uiuc.edu/businessconcept.htm

  13. Agora Procedure • Need teams of at least four members. • Concept champions pick team members. • Go around and discuss concept and team member backgrounds until teams filled. • Check point at 3:45 pm.

  14. Fill out Form TS • When teams are picked, fill out form TS. • Will receive assignment of on-campus mentor by e-mail by end of week. • Arrange to meet with mentor.

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