Salt Lake City Meets Value Proposition Design

Phase II of the G2M Business Accelerator is focused partly on developing a Business Model Canvas as described in the book Business Model Generation. A later book is being published called Value Proposition Design. The authors will be Salt Lake on October 24th from 5:30pm to 7:30pm at the event Salt Lake City Meets Value Proposition Design. You can register to attend HERE.

EVENT DETAILS:

The international success of Business Model Generation and the Business Model Canvas inspired us to celebrate the launch of the bestseller’s sequel – Value Proposition Design – with the international community of innovators and Strategyzer

We want visionaries that defy traditional business approaches to meet, brainstorm, and together, to revolutionise the fields of Innovation & Strategy by introducing more tools and structured approaches that catalyse value creation. With the force of this global community, we can together change the way business is done, forever.

We’re inviting enthusiasts that have pre-ordered the new book Value Proposition Design to join our event in Salt Lake City to network, attend a Q&A with the authors, win Strategyzer prizes and meet like-minded people to build extraordinary business models and value propositions.

Don’t wait to gain access to a proven methodology to succeed with value propositions that sell, embedded in profitable business models!

Please note that a printed copy of the book purchase receipt is mandatoryfor admission to this event! You can purchase the book here: www.strategyzer.com/value-proposition-design!

UVEF Presents: Q&A session with Mike Templeman & Austen Allred

UVEF Presents: Q&A – PR with Mike Templeman & Austen Allred – RSVP Now
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Eventbrite - UVEF Presents: Utah Seed Fund Summit 2014

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USTAR Confluence – University Research Meets Commercialization

Beginning November 3, USTAR will hold its inaugural two-day review of research teams, with special talks on commercialization initiatives and services, and a keynote speaker that will bridge the academic and commercialization perspectives.

The USTAR Confluence will kick off Monday, November 3 at 8:00 a.m. in the auditorium of the James L. Sorenson Molecular Biotechnology Building: A USTAR Innovation Center at the University of Utah. The Confluence will continue on November 4 with lunch provided both days. On November 3rd, an opening night networking reception will be held from 5:00-7:00 p.m. and will serve as the venue for graduate and post-doctoral poster presentations from students related to the two research universities during the poster session.

In conjunction with the reception, tours of the Nanofabrication facility will be provided. Additionally, the USTAR Confluence will include booth space for sponsors, industry partners and USTAR services. The USTAR Confluence seeks to stimulate entrepreneurial/commercial excitement within Utah while providing USTAR researchers the opportunity to share their research and projects. The event will also work to expand the community and provide stakeholders, investors and the public a rare opportunity to engage in the unique work of USTAR.

The keynote address will be given by Stacy Pierce, Principle Engineering Manager for Rockwell Collins.  Stacy has an impressive background in research, development and commercialization of simulators.

Each team is scheduled to present for 30 minutes. The goal of the meeting is to highlight the research being done by the USTAR teams, the direction of research in the coming year, and commercialization potential or successes.

Please register at:  https://www.eventbrite.com/e/ustar-confluence-where-research-meets-commercialization-tickets-12801645065.

UVEF EPIC Ventures’ Hot 100 Award

Now Accepting Applications

UVEF is now accepting applications for the EPIC Ventures’ Hot 100 Award. This award will recognize the 100 most buzzed about companies in Utah under 5 years old. There is no minimum income requirement or employee threshold to apply for this award. As long as you have a registered business in Utah under 5 years old, you can apply.

To submit your companies’ application, just visit click this link http://uvef.net/contests/utahs-hot-100-award/. Winners will be announced on December 1st.

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9TH ANNUAL PTAC PROCUREMENT SYMPOSIUM

Events listCalendar

  • Date: Oct 23, 2014
  • Time: 7:15 am
  • Venue: South Towne
  • Address: 9575 S State Street
    Salt Lake City, UT 84070

Dear PTAC Client,

Registration for the Eighth Annual Procurement Symposium is online at http://business.utah.gov/PTAC. There is a discount for those registering online through October 15th, 2013. The website includes information about the Symposium and a tentative agenda. If you have questions, please contact one of our regional managers by clicking here. This event includes breakout sessions on various government contracting topics, a reverse trade show providing opportunities to meet representatives from government agencies, large government prime contractors seeking subcontractors, and various assistance resources. The Symposium will benefit all PTAC clients and anyone interested in government contracting. We look forward to seeing you there. https://ptac2014.eventbrite.com

– Procurement Technical Assistance Centers

 

9th Annual

Utah Procurement Symposium

PENCILS TO PLANES: 
GETTING YOUR PIECE OF THE GOVERNMENT CONTRACTING PIE

Thursday October 23, 2014

South Towne Exposition Center
9575 S State Street
Sandy, UT 84070


Keynote Speaker
Gary R Herbert
Governor,
State of Utah

Featured Presenter
Joshua Frank
Principal & Founder
RSM Federal

Featured Speaker
Karen Gunn
Goldman Sachs 10,000
Small Business Program

Featured Speaker
Natalie Kaddas
General Manager
Kaddas Enterprises

7:15 AM – 8:00 AM
Registration and Breakfast

8:00 AM – 8:10 AM
Welcoming and Opening Remarks: Fred G. Lange
Director, Utah Procurement Technical Assistance Centers

8:10 AM – 9:00 AM
Featured Presenter: Joshua Frank
Principal & Founder RSM Federal

9:15 AM – 10:00 AM
Reverse Trade Show & Networking

10:00 AM – 11:00 AM
1st Breakout Session

  • PTAC Contracting 101
  • VETS Verification
  • Defense Contract Audit Agency (DCAA) Part 1
  • Small Business Administration (SBA) Part 1

11:20 AM – 11:40 AM
Lunch Presentation
Keynote Speaker
: Governor Gary R. Herbert
Governor – State of Utah

11:45 AM – 12:00 PM
Lunch Presentation
Featured Speakers
: Karen Gunn & Natalie Kaddas
Goldman Sachs 10,000 Small Business, Kaddas Enterprises

12:15 PM – 1:15 PM
Reverse Trade Show & Networking

1:30 PM- 2:30 PM
2nd Breakout Session

  • Roadmap to Success
  • Utah Transit Authority (UTA)
  • Defense Contract Audit Agency (DCAA) Part 2
  • Small Business Administration (SBA) Part 2

2:00 PM – 3:00 PM
Reverse Tradeshow, Networking & Scheduled One-on-One Meetings

If you want to be an exhibitor in a booth please contact:
Randi Ruff: Phone 801-581-7450 Email: rruff@purchasing.utah.edu
Booth holders are large companies& government agencies.

Link to PTAC Website: http://business.utah.gov/PTAC
Link to Registration: https://ptac2014.eventbrite.com

Learn to sell to the Federal, State and Local Government

G2M Business Accelerator Award Winners – September

Congratulations to the G2M Phase I Award winners for September: Jobpiper and NuTeam Freedom. JobPiper believes in building legendary companies by helping companies to “clone” their best employees. Nuteamfreedom provides an automated marketing system for network marketers. Funds and training are provided by the Utah Science Technology and Research (USTAR) initiative, in partnership with the Utah Valley Business Resource Center (UVU BRC). USTAR assists companies and universities turn ideas into products. The UVU Business Resources Center has a number of tools, resources and organizations to assist local businesses.

“At JobPiper, we believe in building legendary companies by helping them hire great people. In fact, we “clone” companies’ best employees. Using our “cloning” software, companies discover what attributes their top employees possess and then find job candidates with those same attributes. JobPiper is currently cloning top employees for Namify, iTok, MoneyDesktop, and the Galactic Empire (don’t tell Disney; they might sue us).” Derik Krauss, CEO of JobPiper.

“NuTeam’s FreedomCycle is the first fully-automated, content-rich, social marketing system designed for network marketers. It provides professionally created interactive emails that help introduce, educate, motivate and populate your downline…automatically. Simply enter a contact’s name and email address and FreedomCycle will send product and opportunity related emails, filled with content, videos, research studies, follow-ups and more to help convert your contacts to customers and distributors.” Greg Johnson, Owner, Nuteamfreedom.

Phase I pitches are conducted at noon on the 4th Thursday of each month at the UVU BRC. In order to pitch and receive funding a company must go through our G2M Phase I Training, based on lean startup, proof of concept, and market validation principles. Once companies complete their customer validation and market testing, and turn in the results, they can pitch in front of the crowd of peers – other companies going through the program. They are judged on a scale of 1 to 10 whether they have 1) found a monetizeable pain or a customer or market problem that people are willing to pay for, 2) have a team that can execute in starting and scaling a company, and 3) whether they were intellectually honest in their research.

To learn more or apply to the USTAR/UVU G2M Business Accelerator, please visit www.uvu.edu/brc/accelerator/ .

Startups from Utah’s University Technologies

Some of the 2014 numbers are out. Utah’s University Technologies are becoming startup companies or are being licensed out to help existing companies. Don’t be left out! There are technologies available at all of Utah’s Universities.

Bryce Hansen (he has been a CFO/CPA for several SBIR/STTR companies, graduated with a Tech commercialization focused MBA, and worked with the Utah Fund of Funds) will be offering a Technology Commercialization Assistance at a free, monthly consultation.  The first one is on Oct 13, 3-5pm.  He can work with companies during that time period. He has been on the funding side, the accounting side, and recently has been working in the strategic marketing side of technology companies.

You can find Utah University technologies at the following locations, or contact Peter Jay with USTAR Central at 815 West 1250 South Orem, UT 84005, (801) 863-6821:

  • University of Utah Technologies: You can view some of the technologies recently developed at the University of Utah at its Technology Publisheror contact USTAR Central.
  • Utah State University Technologies: Utah State University is rapidly disclosing and acquiring intellectual property as well. You can view technologies recently developed at Utah State University at its Innovation Catalogor contact USTAR Central.
  • Brigham Young University: BYU has a list of available technologies at: http://techtransfer.byu.edu/technologies
  • Utah Valley University: For UVU Technologies, please visit: http://www.uvu.edu/brc/innovateuvu/

Here are some of the 2014 numbers from the University of Utah.

UofU2014

Grant money is available to help university spinoffs. Over $6 Million in grant money was given out in 2013 and nearly as much already in 2014.

UofU2014-2

The Fastest Way to Grow Your Company

So much time is spent strategizing, planning and wringing our hands, hoping to impact our company’s growth.

We allow the daily whirlwind to distract us with its importance due to its urgency. Our siloed focus on the minutia of HR, IT, OPS, Finance… you name it, allows us to take our eyes, hands and heart off the ONE thing that makes ALL the difference, Time spent on sales.

One important measure of our ability to grow our enterprises is simply counting the hours we and our team are actively engaged in sales. Whether it is cold calling prospects, presenting products or bids, closing sales or seeking referrals, nothing much matters if sales don’t occur.

I know… I know… delivery on the promises made by the sales force, compliance with regulations, addressing pressing legal issues, seeking capital for growth are examples of those things that can, if unattended, sink any company ship. What I’m addressing is simply a measure of how much effort, as a percentage of total labor hours, are being applied to profitable topline revenue.

There are some good rules of thumb for start-ups as well as established businesses. For start-ups (Those of us that are 2 years or younger) we should be devoting at least 80% of our day to sales. For established enterprises (7 years or more) at least 30% of total labor resources should be devoted to sales. If you’re in-between these two definitions, graph the percentage and draw a line between 80% & 30%.

The rationale for this emphasis does not require an advanced degree to understand. If you do not have reliable, influenceable, predictable, profitable revenue flowing into your company, in very short order, all the other issues you’re dealing with simply won’t matter.

Revenue covers a multitude of management sins. When sales are occurring, good things happen. Vendors get paid, doors stay open, and checks get written.

Sales are the core of a competitive advantage. There are many companies with great products that fail. What differentiates the leaders in any market from the rest of the pack is the strength of their marketing and sales.

Using the percentages provided above is a simple way to measure the strength of your company in the market you’re competing in. It is so easy to excuse ourselves from the immediacy of sales to attend to the immediacy of just about anything else. Don’t fall into that trap. Again, nothing else will matter if revenue is not flowing through the door.

Tom Watson, the founder of IBM, correctly stated “Nothing happens until somebody sells something.” Sales must be the monolithic focus of your company EVERY SINGLE DAY. Ignore that wisdom at your own peril and the peril of those that have tied their futures to your ship.

Want to grow your company? Focus on sales. Want to expand your product line? Focus on sales. Want to dominate your market and not be dominated by your competition? Focus on sales.

These is NO other obsession in your company that will have a more direct impact on the immediate and the sustained future success of your company than sales.

If you need help developing an actionable sales strategy, that’s what the UVU Business Resource Center is all about… plus free services to address the other stuff. We can be reached for an appointment at 801-863-2720. We’re happy to schedule the appointment around your busy sales schedule.

Written by Winthrop Jeanfreau, UVU Director of Economic Development, SBDC Director, and Business Resource Center Director.

University Technology Can Help Your Company

The Utah Science Technology and Research Initiative (USTAR) brought about 45 professors to the University of Utah and Utah State University specifically to develop new technologies that can help Utah companies and industries gain a competitive advantage. USTAR Central was formed at UVU to market technologies or otherwise assist the Utah State and UofU Technology Commercialization Offices in bringing any new technologies to Central Utah companies.
If you are interested in receiving updates on new available to license technologies related to your company or industry, please Subscribe to our UTAH TECHNOLOGY EMAIL LIST

You can learn more about USTAR at www.InnovationUtah.com or contact USTAR Central at:

Peter Jay
USTAR Central
815 West 1250 South
Orem, UT 84005
(801) 863-6821

Or

Visit one of the following links below:

University of Utah Technologies

In 2013, the University of Utah alone had 212 disclosures (disclosures are where a professor/inventor discloses a new technology to its tech commercialization office); there were 89 technology licenses to companies; 17 startup companies were formed; and 88 patents awarded. (UofU Technology and Venture Commercialization 2013 Annual Report, see also the charts below.) You can view some of the technologies recently developed at the University of Utah at its Technology Publisher or contact USTAR Central.

UofU2013

Utah State University Technologies

Utah State University is rapidly disclosing and acquiring intellectual property as well. You can view technologies recently developed at Utah State University at its Innovation Catalog or contact USTAR Central.

Most Companies Coming Out of Business Incubators and Accelerators are Garbage

“Most companies coming out of business incubators and accelerator programs nationwide are garbage,” stated a private equity investor recently on a panel discussion at the National Business Incubator Association (NBIA) conference. The current model used by most incubators and accelerators “does not work”. Government programs, university resources, and private investment are being “wasted” on companies that ultimately fail.

The problem is not that the companies fail. Most early stage business ideas will and should fail or change. Indeed, “successful startups are the ones who have enough money left over to try their 2nd idea.” – Clayton Christensen, Harvard Business School. The problem is that resources are wasted, resources that could have been utilized in a more effective manner, incurred a greater return on investment, or at the least, avoided a loss.

Why are business incubators and accelerators failing? Why are resources being wasted? What is the solution?

The USTAR funded G2M Business Accelerator program, run out of the UVU Business Resource Center, is ahead of the curve in solving these problems. A professor on the same NBIA panel suggested new methods are coming out to vet companies and ideas. He mentioned books about lean start up principles and specifically recognized “Nail It Then Scale It” by Nathan Furr and Paul Ahlstrom.

The G2M Business Accelerator process acts as both a SCREENER and an ACCELERATOR. The process screens business ideas and then accelerates the good ones. A business that takes full advantage of the Business Accelerator will have its business idea formally screened at least 13 times during 3 different phases, and it could be screened any number of times as it is reviewed by each potential customer through market validation, customer testing, and proof of concept testing. Much of the work is done by business owners themselves, which avoids using government, university, or private resources prematurely.

In the past year-and-a-half, over 200 companies have applied for the Business Accelerator (mostly through word of mouth advertising), about 150 have gone through phase I, approximately 50 through phase II, and 15 through phase III. Not a single company has ever gone through the program that has not changed its idea or business model. One startup company stated of the vetting program, “I estimate that the G2M process we’ve gone through has saved us 6 months of development time and $40,000 in coding costs.”

Along with the screening, resources are available at the Business Resource Center to accelerate good ideas, including state and federal funding, loan assistance, business counseling, prototyping, website design, 3d printing, manufacturing training and sourcing assistance, government contracts assistance, business model planning, networking, sales and marketing training, management consulting, and really anything else a company needs.

To learn more about the USTAR G2M Program, the UVU Business Resource Center, or to apply to the program visit www.uvu.edu/brc