Category Archives: Business Accelerator

UVU business resource center exterior

Official UVU BRC Website is Getting a Facelift

The official UVU BRC website is getting a facelift. If you haven’t seen it, you’ll be pleasantly surprised. Not only has the visual been updated, but the content has been updated, too. Links have been added and fixed so the navigation is smoother and more intuitive.

Be sure to check out the latest Grow Your Business classes, now happening once a month. They are geared to help you validate your business idea or product and understand what really goes into helping an idea or product to be successful.

You can visit our official website at www.uvu.edu/brc or clicking on the HOME link at the top of the page.

 

March Business Winners – Innovated Sports, Flip, Medi-Swarm

Congratulations to the G2M Phase I Award winners for March 2015: 1) Innovated Sports, 2) Flip, and 3) MEDI+SWARM. 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 in developing commercial applications for their research. The UVU Business Resources Center has a number of tools, resources and organizations to assist local entrepreneurs and businesses.

Innovated Sports

Introducing Innovated Sports. We change the way university athletic recruiting is done allowing recruits who might have been previously overlooked to gain scholarships and play at the next level. Our innovative approach connects players to recruiters through our new social media platform and links to existing social media platforms. It’s the LinkedIn for amateur sports. Parents and fans can now assist as they can add content for their favorite athlete with our unique and innovative highlight function; but all under the control of the student-athlete.

Innovated Sports is the creation of CEO Ryan Pedersen. His partners are Justin Simonsen, Jake Hawkins, Zach Jenson, and Andrea Simonsen, students at Utah Valley University.

Flip

Flip is the go-to mobile app to buy and sell items locally. Flip differentiates itself from Craigslist and KSL Classifieds by providing a safer and easy-to-use platform. Instead of having users exchange addresses or meet up in a dimly lit parking lot, Flip provides users with “Trading Posts”, which are designated locations (i.e. Starbucks) to meet up and exchange their items. The app is designed with the user in mind, so posting takes less than a minute and searching is easier than ever. Plus, the Flip team is made up of 4 normal guys that like to have fun.

MEDI+SWARM

MEDI+SWARM launching in beta July 2015* MEDI+SWARM uses your health data and health data from people like you, to perform extraordinary capabilities not thought possible until now! First, our smart health network is social; by using personalized data our system is able to link users with others just like them, creating a supporting community like none other. By having a custom community that knows exactly what you are experiencing, MEDI+SWARM will be able to help you know what treatments work best for you and if there are any possible cures. Second, MEDI+SWARM is united; our smart health network is open to everyone. By aggregating information on all diseases, MEDI+SWARM is able to compare similar components of different diseases and check for possible solutions, significantly improving the chances of finding new treatments. MEDI+SWARM is set revolutionize the current healthcare system.

G2M Business Accelerator Phase I pitches are conducted at noon on the 1st Wednesday of each month at the UVU Business Resource Center. The events are open to the public. In order to pitch and receive funding a company must go through the Business Accelerator Phase I Training, which focuses on lean startup, proof of concept testing, and customer and market validation principles.

G2M Phase IV – Revenue Accelerator

Now that you’ve validated your idea, developed your business model and begun putting your business model into action, we invite you to attend Phase IV — sales acceleration.

You will be taught by one of the national leaders in sales acceleration training, Griffin Hill. Their Integrity Sales System is the most complete sales methodology available. Their six step sales process brings immediate and sustained results using a clear path to move from one step to the next. Companies like IntegraCore of Salt Lake City increased their new sales by 300% in their first five months of use, using this proven method for increasing sales success.

The Integrity Sales System is based on the principle that high performance is the outcome of systematic adherence to natural law.  This system focuses leaders and employees on consistent actions that govern success.  Adhering to these natural laws and high leverage activities help their client’s experience rapid, substantial and sustainable revenue growth.

This revenue acceleration course is taught in a 12 consecutive week format, for one hour each Monday morning, beginning promptly at 9 AM in our main conference room.

The $3,500 tuition is waved for qualifying students and their staff. To qualify for this free training, one member of your company must have graduated through the previous Phases of the G2M program and commit to attend entire training program. Seating is limited. Preference will be given to recent graduates of Phase lll, with the balance of available seats open to alumni graduates of G2M.

To register, call or email Marin Reynolds at 801-863-2720 or mreynolds@uvu.edu.

February G2M Phase 1 and 2 Winners

February G2M Phase I Winners

Congratulations to the G2M Phase I Award winners for February 2015: 1) Solar Ninja, 2) Inertial Sense, and 3) NOMO. 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 in developing commercial applications for their research. The UVU Business Resources Center has a number of tools, resources and organizations to assist local entrepreneurs and businesses.

Solar Ninja is “a mobile platform that helps streamline the solar sales cycle. At Solar Ninja, we have developed the first mobile sales tool for thesolar industry. What used to take hours of time can now be done in minutes with ease. What used to take a week can now be done on the very first visit.” Jeff Burns, Solar Ninja

At Inertial Sense LLC “we have created the μINS-2™, a miniature calibrated GPS aided Inertial Navigation System.  Sensor data from MEMs gyros, accelerometers, magnetometers, barometric pressure, and GPS/GNSS is fused to provide optimal estimation of orientation, velocity, and position.  The μINS-2™ can be attached to any object and provide analytic and tracking data for that object.  Some call our sensor a “GPS on steroids” because it can do things a normal GPS cannot do.  Applications include drones, camera and antenna pointers, personnel tracking, asset tracking, navigation, ground vehicles, robotics, and sports/fitness monitoring.  Our patent-pending design is the size of five stacked dimes making the μINS-2 the smallest, most cost-effective GPS INS on the market today.  Inertial Sense is a privately owned Utah company.  Our CEO graduated from Brigham Young University at Provo, UT.  Our company has a background in unmanned aerial vehicles (UAVs), control theory, embedded systems, and electronic design. Inertial Sense was founded in July of 2013.  We believe that the success and strength of our technology, company, and community lies in faith in the abilities of people and the creation of opportunities for personal growth.” Walt Johnson | CEO / Founder | Inertial Sense, LLC

NOMO™ “is so revolutionary you won’t have to change the water in your fish aquarium for as much as two years with minimal maintenance. This patented technology creates a balanced environment by stimulating aerobic (good) bacteria while suppressing the anaerobic (bad) bacteria. We have made it solar powered by running off the light that already exists in the Aquarium. There are no replacement filters or extra expenses. Put NOMO™ in your tank and leave it.  NOMO™ saves water, energy, time and money. We’ve made having a fish tank simple and fun by removing the pain and hassle of aquarium keeping!” David Simeoli

Phase I pitches are conducted at noon on the 4th Thursday of each month at the UVU BRC. They are open to the public. 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.

February G2M Phase II Winners

Congratulations to the G2M Phase II Award winners for February 2015: 1) WildHair Technologies and 2) SpeedStealth. 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.

WildHair “believes that technology should be seen differently.  Technology innovation is happening faster than most solutions can be implemented. We created a SaaS platform that makes repeatable data migration pathways designed around your business processes, we call it BridgeTheGap. Technology has become fast and more intuitive but the cost associated with embracing new technology has left many living with inadequate but affordable solutions. WildHair is determined to create the affordable big data solution for the rest of us. When you control your data, your bottom line improves, deprecating outdated software is viable and implementing the newest technology is a simple import process. Its time for technology that supports your business as a whole.” Shelly Warren, Founder

Inneuvate, LLC, SpeedStealth, DBA, is “a service delivery company which uses proprietary software to accelerate computers, tablets or smartphones’ Internet connections.  We use a combination of licensed software and our own developed Intellectual Property to get data delivered more efficiently, first time every time.  We don’t use tricks like compression, caching or processor management tools, but we add a little math to the data being transmitted to allow us to rebuild lost data on the receiving end.  Our initial target market is business travelers, but anyone with expensive data plans or a poor Internet connection would benefit from our service.  We expect to charge about $5 per month, and people should see anywhere from a 30% to 3,000% speed boost, depending upon the network they are using.  It also has the desirable side benefit of adding an additional layer of security to our client’s data transmissions.  The software is installed on the device, so the performance improvements occur wherever they go.”  Bob Vukich.

Phase I pitches are conducted at noon on the 4th Thursday of each month at the UVU BRC. They are open to the public. 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/ .

January G2M Phase I Winners

Congratulations to the G2M Phase I Award winners for January 2015: 1) SnoreHero, a medical device that comfortably eliminates snoring, providing a restful night’s sleep, 2) DealTik, and 3) WordUp. 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.

SnoreHero is a medical device that comfortably eliminates snoring, providing a restful night’s sleep. It works by keeping the upper airway open during sleep, effectively preventing the vibrations of the uvula and soft pallet that produce the sound known as “snoring.” The device has the added benefit of helping users take in more oxygen as they sleep. This provides more energy throughout the day, as well as decreased risk of serious health problems such as heart disease and stroke. SnoreHero is a simple, effective, affordable alternative to more expensive solutions, such as surgery.

DealTik is a new, innovative mobile application that aids in the success of local businesses. It is a mobile application used to drive traffic to businesses during the slower hours of the day.

WordUp believes that people can transform one another when they discover who each other truly is. We are reinventing language learning by breaking down international barriers and allowing anyone to explore the people of the world. Intermixed with personalized language learning curriculum we provide opportunities for our users to engage in 2-player real-time casual games with native speakers. Before any of the game play, though, we ask you multiple questions to tailor make the perfect language learning path for you to meet your specific goals. After 2.5 years of R&D and 3 prototypes we are nearing our public launch. Go to WordUpGames.com to get in line for access to our closed beta group.

Phase I pitches are conducted at noon on the 4th Thursday of each month at the UVU BRC. They are open to the public. 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/ .

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!

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/ .

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

August G2M Business Accelerator Awards

August USTAR G2M Business Accelerator Awards
Congratulations to the following companies for receiving awards in August from the USTAR G2M Business Accelerator Phase I and Phase II Pitches.

August Phase I award winners included:

  • MURA Interactive – DubWars: MURA Interactive is a local video game development studio. They currently are focused on bringing the latest in music integrated gaming. The company was a runner up during the Utah Game Wars and was featured during Salt Lake Comic Con. They were also selected as a finalist for the Tokyo Games Sense of Wonder Night event in Japan. The flagship game DubWars features Dubstep music. It is a top down shooter where your weapons fire to the music. For more info visit www.dubwarsgame.com
  • VidAlert: Vidalert is excited to move forward with their innovative idea. Our goal is to use modern technology to improve the overall security of people and do it in an effective way. We are ver excited to be working with the BRC and could not be happier with the support we have received. The feedback, experience and talent here is amazing.
  • CoolHotNot: CoolHotNot is dedicated to solving the problems with online reviews by enabling you to get ranked lists of products based on the real-life experience of people you trust. Their patent-pending technology could let Google provide socially validated search results, or Amazon provide Top 10 Lists of product most-recommended by anyone’s social network. A public prototype based on the lists of consumer electronics experts resulted in over 25,000 unique visitors, with over 50% coming to the site direct (indicating strong word of mouth), and with 42% of those visitors viewing an average of 8 pages and spending almost 6 minutes on the site (indicating excellent engagement). The company will use the G2M grant to create an exclusive community of enthusiasts via a crowd-funding campaign to fund the development of the full freemium site already designed and validated.

August Phase II award winners included:

  • LionHeart Innovations: is a “mobile medical app putting medical care in the hands of the patients.”
  • Mura Interactive – DubWars: DubWars: MURA Interactive is a local video game development studio. They currently are focused on bringing the latest in music integrated gaming. The company was a runner up during the Utah Game Wars and was featured during Salt Lake Comic Con. They were also selected as a finalist for the Tokyo Games Sense of Wonder Night event in Japan. The flagship game DubWars features Dubstep music. It is a top down shooter where your weapons fire to the music. For more info visit www.dubwarsgame.com
  • KPI Fire: KPI Fire is excited to be a part of the UVU Business Resource Center’s Go to Market program. Since partnering with the Business Resource Center KPI Fire has gone from a spark of an idea to a campfire with a handful of customers. With the BRC’s help we plan to fuel that flame and turn KPI Fire into a global business in 2015. KPI Fire is a SaaS model software application that enables companies to establish, communicate and execute their strategic goals.

Everyone did a great job! Each company has the opportunity to pitch twice for funding for each phase. In order to receive funding a company must be in the top 3 at that particular pitching event AND it must receive 7.0 or 70% average approval from the crowd or judges.

July USTAR G2M Business Accelerator Awards

July USTAR G2M Business Accelerator Awards

Congratulations to LionHeart Innovations and Skeduna for receiving awards in July, USTAR G2M Business Accelerator Phase I Pitches.

  • LionHeart Innovations : is a “mobile medical app putting medical care in the hands of the patients.”
  • Skeduna: CourseKeepers by Skeduna is a new Software-as-a-Service (SaaS) focused on increasing on-time graduation and maximizing student success. CourseKeepers is degree pathways made simple!  We believe that if students can visualize a direct path to graduation, have the power to schedule classes that accommodate their personal lives, and understand the financial impact of their choices, they will not only graduate on time but also be more likely to participate with their alma mater. CourseKeepers is built by in-house tech ninjas using open-source technology.

Everyone did a great job! Each company has the opportunity to pitch twice for funding for each phase. In order to receive funding a company must be in the top 3 at that particular pitching event AND it must receive 7.0 or 70% average approval from the crowd or judges.