Butler Venture Accelerator 2015

The John E. and Alice L.

BUTLER VENTURE ACCELERATOR AT BABSON

MOVE FORWARD. The John E. and Alice L. Butler Venture Accelerator Program provides the ecosystem where Babson lives and breathes entrepreneurship. It’s where you take action, whether you’re looking to start or advance an entrepreneurial venture, or join a startup team.

It’s where you explore opportunities and move your business concept forward. And, it’s where you come to turn your idea into a reality.

BOSTON

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SAN FRANCISCO

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WELLESLEY

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WWW.BABSON.EDU

GET FROM POINT A TO POINT B FASTER. Our entrepreneurial community offers unparalleled support throughout each stage of developing your organization.

It’s easy to stay focused and take action when you’ve got access to resources that enhance our extremely entrepreneurial environment. And, being surrounded by like-minded entrepreneurs, you’ll find their ambition is contagious, helping you spend less time thinking and more time doing.

ADVICE FROM EXPERT ENTREPRENEURS

CROSS-CAMPUS COLLABORATION It’s all about who you know, and partnerships with the Center for Women’s Entrepreneurial Leadership (CWEL) and the Lewis Institute for social innovation—including Food Sol, focused on food entrepreneurs—give you access to additional connections that you can use to further progress your business.

As part of the accelerator program, you’ll gain special access to guest entrepreneurs and focused workshops, giving you an added advantage with just-in-time industry information and insights.

YOUR ENTREPRENEURSHIP FAMILY The accelerator is the only place where constant, intentional collaboration between undergraduates, graduates, and alumni occurs through one combined

Babson’s Entrepreneurs in Residence have included: » Daymond John, FUBU founder and “Shark Tank” host » Andrew Zimmern, “Bizarre Foods” host » Gail Simmons, “Top Chef” judge

program. And, like any good family, this group makes you feel accountable, with weekly reminder emails keeping you committed to the program— and taking your next step.

25+

WORKSHOPS EACH YEAR Past Workshop Topics

Ideation / Creating Social Value / Pitching to Investors / Business Entry Strategies / Legal Basics for the Entrepreneur

YOUR VENTURE. YOUR ACCELERATOR. The accelerator offers three phases, each with tailored resources and dedicated faculty advisers that will help you advance your business from one phase to the next.

EXPLORE » PURSUE » LAUNCH AND GROW » The customized support and services you receive

The focused environment, as well as the open

during the accelerator program are determined

lab spaces to collaborate, experiment, and

by your venture stage, your goals, as well as your

work, allow you to acquire the skills you need

entrepreneur experience. Prior to entering the

to succeed and move your business opportunity

program, you’ll complete an assessment intake

forward. As you progress through each phase,

form to determine whether you’ll start in phase

you’ll earn access to even more resources.

1, 2, or 3.

EXPLORE PURSUE YOUR OPPORTUNITIES

YOUR PASSION

LAUNCH &GROW YOUR BUSINESS

LEARN ABOUT BUSINESS AND HOW TO BE AN ENTREPRENEUR » Identify an opportunity » Define customer value proposition » Test on potential customers » Demonstrate market feasibility

DESIGN AND BUILD A SOLID FOUNDATION FOR A NEW BUSINESS VENTURE

TAKE AN ESTABLISHED BUSINESS VENTURE TO THE NEXT LEVEL OF SUCCESS

»C onduct industry and market tests

»R efine your team

»B uild your business model » Work on prototype or minimum viable product

»C ontact suppliers and customers »S ecure initial sales

»R ecruit team members

»C ontribute to the Babson Entrepreneurs blog

» I dentify operational partners (manufacturing, distribution)

»H old peer-to-peer advising sessions

»C ontribute to the Babson Entrepreneurs blog

»G row your business

Throughout the venture experience:

MENTORING / ADVISING / WORK SPACE / SELF-ASSESSMENTS / FUNDRAISING / PEER SUPPORT / FOCUSED WORKSHOPS

TAKE THE FIRST STEP PHASE 1

» EXPLORE

As you generate ideas and discover opportunities,

Actions here help focus your idea, including

the Explore phase helps you to validate your

continuous conversations and early business

business concept with primary market research

experiments with your potential customers to vet

and action. You’ll determine the feasibility of

your idea and initial business model. Throughout

your opportunity with industry, market, and

the phase, you’ll build connections in addition

customer analysis, allowing you to articulate

to recognizing the resources you already have on

the problem, social, and/or economic need

hand: who you are, what you know, and whom

your business aims to address.

you know.

YOU WILL:

RESOURCES

» Identify an opportunity » Define customer value proposition

»G roup advising sessions with dedicated faculty advisers

» Test on potential customers

»P eer mentors

» Demonstrate market feasibility

»C ommon work space » Workshops »R ocket Pitch

Goal of Phase 1:

COMPLETE FEASIBILITY STUDY DEMONSTRATING MARKET NEED

“ THE BIG BENEFIT OF THE PROGRAM IS CONNECTING WITH PEERS; it’s scary pursuing your idea alone. Here, there are resources everywhere, people of all backgrounds, people old enough to be my parents … but it’s not intimidating because everyone is really open and you learn about new opportunities you wouldn’t know about otherwise.”

– MICHELENE WILKERSON ’16

HIT THE GROUND RUNNING PHASE 2

» PURSUE

During the Pursue phase, you will shape your

This phase challenges you to focus on planning

opportunity and create your plan to implement

your business and ironing out details from

your business. You’ll continue to talk to your

prototypes to pricing. You’ll understand the

customers as part of your market research, build

importance of your team and learn how to most

prototypes, prove technologies, and build your

effectively tap into their skills. The focus of this

leadership teams.

phase is on your business model canvas, using it to not only map out your business, but to pivot your organization as needed.

YOU WILL:

RESOURCES

ADVANCED PURSUE

» Conduct industry and market tests

» Team meetings and one-on-one meetings with dedicated faculty advisers

May apply for:

» Build your business model » Work on prototype or minimum viable product

»P eer mentors

» Recruit team members

»R ocket Pitch

» Identify operational partners (manufacturing, distribution)

»C ommon work space

»H atchery space »B .E.T.A. Challenge »S eed funding »S ummer Venture Program

» Contribute to the Babson Entrepreneurs blog

Goal of Phase 2:

CREATE MINIMUM VIABLE PRODUCT OR SERVICE

“ I knew I was going to start a meadery, but I didn’t know how to do it.

My business partner Carl Hirschfeld called it analysis paralysis.

I NEEDED MOMENTUM, NEEDED TO MOVE FORWARD, NEEDED SOMETHING TO JUMP-START THIS.

The accelerator helped us put concrete goals on the table. It forced us to ask questions, to get feedback, and to talk in front of lots of people— and often—to fine-tune our idea.”

– ELIZABETH BORGES M’10, HOUSE BEAR BREWING

SURPASS YOUR COMPETITION PHASE 3

» LAUNCH & GROW

The last phase of the accelerator is really just

One-on-one conversations with advisers, who

the beginning. You’ll launch your venture and

have experience in raising funds or as investors,

work to create a revenue stream and become

will help you grow your business. Their guidance

a self-sustaining business. As you work to secure

will help you tackle initial sales discussions,

investors, you’ll also market your products and/or

prepare you for conversations with investors,

services for continued growth and expansion.

and refine your organization.

YOU WILL:

RESOURCES

» Refine your team

»O ne-on-one conversations with dedicated faculty advisers who teach at Babson and have lived the entrepreneurial experience

» Contact suppliers and customers » Secure initial sales » Contribute to the Babson Entrepreneurs blog » Hold peer-to-peer advising sessions » Grow your business

»P eer mentoring »C ommon work space

LAUNCH/GROW ORGANIZATIONS May apply for: »H atchery space »M eetings with legal professionals and other service providers »M eetings with Entrepreneurs in Residence »C onsultations with marketing and PR experts »B .E.T.A. Challenge »S eed funding »S ummer Venture Program

Goal of Phase 3:

GENERATE REVENUE AND LOOK FOR NEW OPPORTUNITIES

“ The accelerator resources are integral to where we are today. We have earned dedicated office space alongside five other ventures, so it’s a great, collaborative environment. It also has offered an easy way for us to build out our network and interact with potential customers.

WHEN INVESTORS SEE WE’RE PART OF THE ACCELERATOR AT THE NUMBER ONE SCHOOL FOR ENTREPRENEURSHIP, IT MITIGATES RISK. IT ADDS TRUST AND VALIDITY.”

– ROBERT DALTON M’14, 88 ACRES

SHARE YOUR STORY. INTRIGUE INVESTORS.

As you work to create a self-sustaining business, you’ll continue to have access to Babson’s exclusive entrepreneurship network, including our network of more than 36,000 entrepreneurs of all kinds. Plus, you can continue to tap into your support network as you get your business in front of larger audiences and investors.

Rocket Pitch/

Summer Venture Program /

Pitch your business idea—in three minutes—to

Apply to the Blank Center’s Summer Venture

an audience of students, faculty, entrepreneurs,

Program to take your business to the next level.

investors, and service providers at the annual

This 10-week intensive experience supports up to

Rocket Pitch event in late October. An open

15 of the most promising MBA and undergraduate

networking reception follows the event so

teams from Babson, Olin, and Wellesley colleges

you can connect with other entrepreneurs

each summer, and includes housing, work

and investors directly.

space, advisers, and a speaker series, among other resources.

B.E.T.A. Challenge/ Submit an application to the annual spring

MassChallenge/

competition, Babson Entrepreneurial Thought

Compete in MassChallenge, a global business

and Action® (B.E.T.A.) Challenge, demonstrating

competition based in Boston that provides

the milestones your business has achieved by

entrepreneurs with resources to successfully

taking action. As a B.E.T.A. Challenge participant,

launch their ventures. Finalists receive mentorship,

you are eligible for the grand prize of $20,000 in

training, office space, and a chance to win a share

cash, plus services-in-kind donations from alumni

of $1 million, among other free resources.

and corporate sponsors, awarded in each of the three tracks: undergraduate, graduate, and alumni.

“ THE SUMMER VENTURE PROGRAM OFFERS A HUGE AMOUNT OF RESOURCES, SUCH AS OFFICE SPACE, NETWORKS, AND, IF NEEDED, SOURCES OF FUNDING. I am still in constant contact with all the mentors; their experience is the biggest resource for me. I also try to attend as many accelerator sponsored events as I can, including outside speakers and events like Rocket Pitch, where there are a ton of networking opportunities.”

– ALEXANDER HUANG ’15, REDESIGN

MOVE FORWARD. START HERE. PARTICIPANTS Students / Join the accelerator during the school year, or during the 10-week summer intensive.

Alumni / Join the program in the Pursue and Launch/Grow phases.

MENTOR Experienced Entrepreneurs / Volunteer your time and serve as a consultant to the businesses.

JOIN THE PROGRAM OR BECOME A MENTOR

Contact Cindy Klein Marmer at cklein-marmer@babson.edu, or Antonette Ho at aho1@babson.edu to learn more.

BUTLER VENTURE ACCELERATOR PROGRAM WWW.BABSON.EDU/ACCELERATOR

FACEBOOK.COM/BABSONENTREPRENEURS @BABSONESHIP

ABOUT THE ARTHUR M. BLANK CENTER FOR ENTREPRENEURSHIP The John E. and Alice L. Butler Venture Accelerator Program is the signature cocurricular program at The Arthur M. Blank Center for Entrepreneurship. The center focuses on expanding the practice of Entrepreneurship of All Kinds™ through programs, such as the venture accelerator, and global collaborative research initiatives that inspire and inform Entrepreneurial Thought and Action®.

Babson faculty, staff, Entrepreneurs In Residence, and mentors cannot make a financial investment or accept equity in, or accept compensation or remuneration of any kind from a Babson student business while the student is enrolled at Babson College. This prohibition continues for a period of 12 months after the student’s graduation from the College, withdrawal from the College, or transfer to another college/university.

BUTLER VENTURE ACCELERATOR PROGRAM WWW.BABSON.EDU/ACCELERATOR

WWW.BABSON.EDU