What is it?
The Lean Launch Pad Accelerator Program is a 3-month program for startups looking to discover a business model for their startup and become investor ready. It will run from January to March in 2013.
Adopting Steve Blank’s Lean Launch Pad (LLP) methodology, this series of workshops will provide essential tools, coaching and discipline on a deliberately aggressive timeline to cycle embryonic technology businesses towards a stronger business model. In turn, this will better prepare these start-ups to apply for funding from the e@ubc seed fund and other venture investors.
This version of the program builds on the Customer Development workshops led by Iain Verigin for the e@ubc Kickstart Program piloted in Summer 2012, and takes the LLP methodology further, with a focus on research based ventures in search of their customer and market. It will be without cost to teams admitted. However, it is not an open session, and only teams that are successful in the application process can attend.
The Lean Launch Pad part of the program will be co-led by Iain Verigin and Paul Cubbon from UBC’s Sauder School of Business, who will be supported by partners from industry. Teams will be matched with a mentor to help them through the process. The overall program and funding element will be facilitated and led by entrepreneurship@UBC.
Who is it for?
Early stage startups (pre-funding) or potentially new teams forming around a technology idea. Current students and alumni can apply, but applications must be by team (see below.) The expectation is that most applicants will either be in lab settings undertaking research, or recent alumni. Current students taking for-credit classes may be able to join a team via a mixer event, but in general, this is not intended for first stage ideas.
How to apply?
Applications, by team, and not by individuals. Minimum of 2 founders required per team, maximum of 6. To facilitate this, two mixer sessions will be held, where some further information will be provided, including on the use of the Business Model Canvas as the application format. At these events individuals are encouraged to attend to form teams. Up to one minute per individual will be allowed to either outline their idea and need for skills on a team, or to outline their skills that they can offer to a team.
Monday, November 26, 12-2pm @ UBC
Wayne and William White Engineering Design Centre, 2345 East Mall (Design Studio), UBC (Map)
Wednesday, December 5, 5-7pm @ Gastown
131 Water Kitchen and Bar, 131 Water St, Vancouver (Map)
Dec 10: Application deadline
Dec 11-16: Interviews (via skype)
Dec 17: Offers out
Dec 20: Teams confirmed
Applications can be submitted online here. Please fill out a business model canvas and other info on this 5 slide template (please stick to the given format): LLPAP 2013 Application – Submit by Dec 10 2012 to e@UBC
Links to resources: LLPAP Resources – Nov 2012 e@ubc
All teams are required to submit a Business Model Canvas (NO business plans or executive summaries!), see: www.businessmodelgeneration.com/canvas.
Offers will be made to a maximum of 10 eligible teams for this first cohort.
Stage 1 – Lean Launch Pad
Jan 2-Jan 17: teams prep with mandatory pre-readings, pre-video, and work on canvas V.1; meet with mentor.
*Jan 18: workshop 1: 8.30am-12.30pm at UBC Point Grey campus
Jan 19-25: customer research, learning blog, venture development & mentor meeting
*Feb 1: workshop 2: 8.30am-12.30pm at UBC Point Grey campus
Feb 8-14: customer research, learning blog, venture development & mentor meeting
*Feb 15: workshop 3: 8.30am-12.30pm at UBC Point Grey campus
Feb 22-28: customer research, learning blog, venture development & mentor meeting
*March 1: workshop 4: 8.30am-12.30pm at UBC Point Grey campus
Stage 2 – Seed Investment Preparation
March 19, 2013: Investor Ready Workshop with Angel Forum (nominal fee will apply to attend)
Mid-March 2013: Investor Pitch Session to e@UBC Seed Fund and other investors
Stage 3 – Demo Day and Launch
TBC: Support for financing and due diligence for eligible teams
TBC: Apr 4, 2013 “Demo Day” event
RULES AND PROMISES
Expectations and obligations of participating teams (rules of the game):
Buy and read both books, as directed:
1) The Startup Owner’s Manual: The Step-By-Step Guide for Building a Great Company by Steve Blank and Bob Dorf
2) Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers by Alexander Osterwalder and Yves Pigneur
Watch the online videos of course lectures prior to starting the course, as directed: http://www.udacity.com/overview/Course/ep245/CourseRev/1
Commit to spending a minimum of 10 hours per week on this program between January and March 2013.
All team members must attend all workshops.
Undertake a minimum of 10 individual potential customer interviews between workshops. (Minimum of 40 in total, per team.)
Maintain a learning blog of progress.
Contribute to the shared Google doc by providing feedback on canvases to all other teams.
No NDAs will be signed within this workshop.
No assumption of UBC involvement in any venture is implied.
Any team member or team that does not meet these obligations can and will be required to leave the program.
What teams will accomplish:
Competency in using a proven process for early stage customer development.
Completion of a rapid iteration cycle to discover a scalable, repeatable business model for their startup.
Preparation for seed funding applications with potential access to suitable investors. (Opportunity, but not a guarantee, to move forward to stage 2, investor application preparation, and again, to subsequent stages, pending successful progression in course stage.)
For questions about the program, please contact Anuj Singhal (firstname.lastname@example.org).