TCT-Startup development path
- 1. TCT - TECHNOLOGY COMMERCIALIZATION PROCESS Company Development Concept /Technology Pre-Seed Early Seed Stage Mid-Seed Stage Later Seed Stage Early Stage Stage Development Stage Summary Research Opportunity Investigation Feasibility Proof Development Market Introduction Growth lab prototype & beta tests pre-prototype (most science lab prototype & feasibility demonstrated lab prototype & feasibility commercial grade prototype & Physical Science - research complete; validating completed; engineering remains) in lab demonstrated in alpha tests first production runs manufacturability Technology Milestones pre-molecule but promising early molecule selected & working in cell molecule being optimized & validating optimized molecule molecule optimized & running Life Science - research results lines working in cell lines in animals pre-clinical trials Patent Status invention disclosure OTT processing / Provisional Provisional application / Pending pending pending/issued adding to foundational patents Company compelling business plan; well executing BP, looking for developing customer Business Development first-cut idea analysis; preliminary opportunity analysis complete and na validated w/ customer and customers and strategic relationships; delivering first Milestones presentation customer surveys underway expert surveys alliances products to first customers inventor & one or two Management Team inventor & one interim bus-dev inventor & one committed bus na Inventor coaching & mentoring committed and experienced at least three "real" managers Milestones person/coach - ~25% of FTE dev person - 50% - 100% bus dev persons Customer & Sales Bio - Initial discussion with strategic letters of intent or some na none customer interest paying customers Milestones Partners preliminary relationship Probability of 1% 1% - 4% 4% - 7% 7% - 12% 15%-25% Significant Liquidity Funding Requirements ~ $1-10M $0-$50K $50-$100K $100-$250K $250-500K $1-4M Time to Achieve Funding 1-10 years 1-3 months 3-9 months 6-12 months 9-18 months 9-18 months Milestones Grants, Corporations, Founders, Angels, Strategic Partners, Venture Capital, Angels, Government and Corporate Angels, Seed Investors like Excell, Angels, Seed Investors like Funding Sources Grants Family, Friends, Angels (Expert), SBIR Phase I, CEIS Bio-imaging Excell, SBIR Phase I/II Seed Investors- Excell, SBIR Strategic Partners, SBIR SBIR Phase I, TTIP Phase II Phase II Average Valuation (based on Venture One ---- <$750K $1M-$2M $2M-$3M $3M-$4M $4M-$6M data) Tech Transfer - UR(MC) OTT, Excell, HTR , Simon School, Community RIT, Cornell HTR, PSW, Venture Creations, HTR, Simon School, RIT COB, Johnson Excell, HTR, Big Red Resources/ RIT COB, Johnson School, Early Stage VCs, RAN, Tech Farm, Infotonics, CEIS, School, Tech Farm, Consultants, Ventures, Consultants, People/Organizations Industry - Kodak, Xerox, B&L Tech Farm, Consultants, CAPCOs, University Support University Support University Support University Support University Support NGOs and other resources BioVenture Network Investor Synergistic Community FIRE, Rochester Inventor Soc. Pre-Seed Workshops, Infobytes TEN, Pre-Seed Workshop, Infobytes, UNYTech and UVANY one- Business Plan Competitions Day, Smart Start, Other Events Innovation Marketplace - HTR minutes, E&A Investor Day Events, TEN rami.katz@htr.org Rami Y. Katz (585) 214-0596