Intro to NSF I-Corps_6apr15

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Introduction to the
NSF Innovation Corps
(I-Corps)
Frank Rimalovski
Executive Director,
NYU Entrepreneurial Institute
Instructor,
NSF Innovation Corps (I-Corps)
April 6, 2015
Lindsey Gray
Director,
NYU Entrepreneurial Institute
Instructor,
NSF Innovation Corps (I-Corps)

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Agenda
u  Background
u  Program beneﬁts and outcomes
u  Program details
o  Curriculum
o  Eligibility
o  Application process
u  How we can help
u  Q&A
2

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Path to commercialization…
u  …increasingly requires startup to advance technology,
develop customer/partner relationships & build team before
acquisition
Startup Acquired By

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Commercialization Myth
Basic &
Applied
Research
Scientific
Discovery/
Invention/
IP Creation
Venture
Formation
& Growth

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The “valley of death”
Commercialization Reality
Basic &
Applied
Research
Scientific
Discovery/
Invention/
IP Creation
Venture
Formation
& Growth

@NYUEntrepreneurThe “valley of death”
Basic &
Applied
Research
Scientific
Discovery/
Invention/
IP Creation
Customer
Discovery &
Prototype
Dev
Business
Model &
Team
Formation
Venture
Formation
& Growth
• Customer/market discovery
• Engineering/prototypes
• Mentors and advisors
• Collaborative spaces
• Business leadership
• Legal counsel
• Capital
Commercialization Reality

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Background
Creation of NSF I-Corps Program
u  Maximizes impact of NSF investments –
accelerate readiness to transition tech out of
the lab
u  $50,000 grants to create prototypes &
commercialization roadmaps
u  7-week ‘bootcamp’ that leverages best
practices from startup community
u  Facilitates team formation
u  Creates a national network
o  Scientists, engineers, innovators, business
leaders and entrepreneurs
* Eligibility: NSF grant within past 5 years

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NYC Regional Innovation Node
u  Collaborating with CUNY &
Columbia to run NYCRIN
o  Awarded $3.74m over 3 years
o  1 of 7 national I-Corps Nodes
u  Support network of 25 research
universities in NY, NJ, CT, & PA
u  Provide NSF-selected teams
7-week immersive I-Corps
training program (~2x/year)
u  Curriculum leveraged for other
NYU, NYC & regional training
programs

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Background
Creation of Regional I-Corps Program
u  I-Corps for non-NSF funded
teams, run by NYCRIN Node
u  Open to faculty and researchers
from all universities in NY, NJ, CT
& PA
u  Same curriculum & program
structure as NSF program
u  National programs for other
agencies coming soon…

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Program Curriculum
u  Lean Launchpad Methodology
o  Business-model discovery & development to
address market risk
o  Leverages scientiﬁc method – form
hypotheses, run experiments, iterate to search
for repeatable & scalable business model
o  Learn to secure substantial customer feedback
before building & launching your product
u  Flipped Classroom
o  Online lectures via Udacity
o  “Classroom” time spent reviewing progress
o  Interview ~15 customers & partners/week
o  Weekly teaching team oﬃce hours

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Beneﬁts of I-Corps
For your research/startup
u  Concentrated time to focus on
commercialization & team—a year’s worth of
work in 7 weeks
u  Funding for customer discovery & prototype
development that you don’t have to ﬁnd
elsewhere (for NSF program)
u  Exposure to/input from startup experts,
investors & mentors from NYC startup
ecosystem
u  Increased likelihood of startup success

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SBIR / STTR
12
WithI-Corps:
14% 2-3x
higher
WithoutI-Corps:

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Get to market more quickly
13

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Beneﬁts of I-Corps
For you and your team
u  Improved ability to identify commercial
potential of future research
u  Increased probability of future grant success
u  Faculty more attractive to potential students
u  Increased visibility with NSF
u  More consulting opportunities
u  New career opportunities for grad students/
postdocs (startup, industry, or gov)
u  Potential for monetary gain

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Expected Outcomes
o  New startup business
o  Licensing opportunities
o  A business case suitable for venture
capital (Angels or VC funds)

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Who else is participating?
16

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Eligibility
u  NSF award within last 5 years (for NSF program);
No NSF funding requirement for Regional program
u  Team in place at time of application
o  Principal Investigator (PI)
o  Entrepreneurial Lead: typically PhD student or Postdoc
o  Industry Mentor
u  Commitment to attend all sessions over 7 weeks
o  3-day kick-oﬀ
o  3 hours per week for webex ‘classes’
o  15+ hours per week of customer discovery/preparation
o  2-day ﬁnal presentation session
17

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Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal

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Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
u  Entrepreneurial Lead (EL)
o  Postdoc or grad student who can move project forward
u  Principal Investigator (PI)
o  Researcher with prior award
o  Responsible for grant management (for NSF program)
u  Industry Mentor (IM)
o  Domain-relevant volunteer guide
o  Proximity is better

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Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
u  One page
u  Composition of team proposing to undertake
commercialization feasibility research
u  Relevant awards (NSF or other funding source)
u  Brief description of potential commercial impact
u  Brief description of current commercialization plan

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Application Process
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
u  For NSF Program:
Topic-Specific Program Directors
Steve Ellis – BIO
Anita La Salle – CISE
Don Millard – EHR
Babu DasGupta – ENG
Raﬀaella Montelli – GEO
Sean Liam Jones – MPS
Irene Qualters – OCI
Quinetta Roberson– SBE
I-Corps Program Officers
Babu DasGupta
Anita La Salle
u  For Regional Program:
Frank Rimalovski
Lindsey Gray
Risa Cohn

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Application Process
22
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
u  Conference call with your entire team & program
directors
o  NSF program will require at least 2 interviews
u  Interviews focus on availability and commitment
to program and openness to customer feedback
u  Not asked to provide details about your
technology

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Application Process
23
Form Team
Prepare
Exec
Summary
Contact
Program
Directors
Team
Interview(s)
Submit
Proposal
FOR NSF PROGRAM ONLY:
u  Read solicitation 12-602
Written authorization from Program Director required to
submit proposal—sent after phone interviews
u  5-page proposal
o  Team (2 pages)
o  NSF Lineage (1 Page)
o  Potential Commercial Impact (1 page)
o  Project Plan/Demo (1 page)
u  Rolling process, quarterly batches, FCFS
u  4-week turnaround to award

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We are here to help
u  Additional detail about program & what to expect
u  Discuss what kind of projects are best suited
u  Introductions to mentors who may join your team
u  Facilitate intro to NSF I-Corps Program Directors
u  Review executive summary before you submit
u  Help anticipate what to expect from interviews
u  Connect with others who’ve participated in I-Corps

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http://bit.ly/WhatisICorps

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More Information
NSF I-Corps:
o  Website: nsf.gov/i-corps
o  Monthly webinars – ﬁrst Tuesday of the month
o  Hear feedback from I-Corps veterans:
http://bit.ly/WhatisICorps
Regional I-Corps:
u  NYC Regional I-Corps Node website: nycrin.org
u  NYU contact: Risa Cohn at rsc255@nyu.edu

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Questions?
entrepreneur@nyu.edu
@nyuentrepreneur
nyu.edu/entrepreneur
nyuentrepreneur.com
16 Washington Place

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Intro to NSF I-Corps_6apr15

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