Launching & Growing A Successful University Based Incubator - RVIC Research Valley Innovation Center May 2010
Agenda • RVIC Intro • Our Service Model • Our ETF Efforts • Our Entrepreneurial Ecosystem • Research Valley International Gateway • Aggie Angel Network
Agenda • RVIC Intro • Our Service Model • Our ETF Efforts • Our Entrepreneurial Ecosystem • Research Valley International Gateway • Aggie Angel Network
Research Valley Innovation Center • Located in Bryan & College Station, Texas and formed 2 ½ years ago • Science & Technology Business Incubator/Accelerator • RVIC is funded by the Research Valley Partnership, Inc., a consortium of: Texas A&M University System, Cities of Bryan and College Station, Brazos County • RVIC Mission: To create an innovation ecosystem that fosters economic development in the Research Valley
Agenda • RVIC Intro • Our Service Model • Our ETF Efforts • Our Entrepreneurial Ecosystem • Research Valley International Gateway • Aggie Angel Network
Agenda • RVIC Intro • Our Service Model • Our ETF Efforts • Our Entrepreneurial Ecosystem • Research Valley International Gateway • Aggie Angel Network
RVIC’s Service Model 1. Align Promising Market Opportunities, Technologies & Business Models Advise Clients Find People 2. Build Management Team 3. Find Right Kind & Right Find Money Infrastructure Amount of Money 4. “Rules, Tools & Schools” & Inexpensive Rental Space
RVIC’s Service Model • Market Analysis & Opportunity Advise Clients Assessment Find People • Business Strategy Consulting Find Money Infrastructure • Intellectual Property Protection and Monetization Strategies • Business Plan Writing
RVIC’s Service Model • Management Team Coaching Find People Advise Clients • Provide Mentors, EIRs and Interns • “Rolodex” of Ready Find Money Infrastructure Executives • “CEOs Wanted” Campaign
RVIC’s Service Model • Bootstrap Coaching • ETF Application Advise Clients Find People Coaching & Support • SBIR Assistance • Intros to VCs, Angels Infrastructure & Private Equity Find Money Groups • Aggie Angel Network
RVIC’s Service Model • Office Space Leasing & Hoteling Advise Clients Find People • Wet Lab Leasing & Hoteling • Online Project Find Money Management System Infrastructure • Books, Papers, Software Templates • Online Market Research
RVIC Service Terms & Fees • The RVIC establishes a client-consultant relationship through a seven-year Professional Services contract • The RVIC charges a modest quarterly fee for services, and has a success fee for fundraising and the overall success of the venture • The client can cancel the contract anytime within the seven year period, but the success fee clauses remain in effect for the full term of the contract (i.e. seven years) • The RVIC does not seek equity or a board seat from our clients
RVIC Service Terms & Fees • Real estate is not included in our professional services agreement, and is addressed via separate lease agreement(s) • The local city and county governments subsidize a portion of the professional services fees for local companies, so the RVIC professional service rate varies from $25/hour (for local clients) to $50/hour (for non- local clients)
RVIC Service Terms & Fees • The success fee for fundraising is 2% of the gross amount raised • The success fee for the overall venture is 1% of the gross acquisition amount, or ... • … 1% of gross revenues in years five, six and seven
Agenda • RVIC Intro • Our Service Model • Our ETF Efforts • Our Entrepreneurial Ecosystem • Research Valley International Gateway • Aggie Angel Network
Agenda • RVIC Intro • Our Service Model • Our ETF Efforts • Our Entrepreneurial Ecosystem • Research Valley International Gateway • Aggie Angel Network
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