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How to Start a Startup at NYU
The document outlines essential strategies for starting a startup, highlighting common reasons for failure, with 42% attributed to a lack of market need. It emphasizes the importance of effective team dynamics, iterative development, and customer validation to achieve product-market fit. Various programs and resources available at NYU to support entrepreneurs, including workshops and competitions, are also discussed.
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How to Start a Startup at NYU
- 1. @NYUEntrepreneur How to Starta Startup at NYU Frank Rimalovski Executive Director, Entrepreneurial Institute Managing Director, Innovation Venture Fund Adjunct Faculty, Tandon School of Engineering August 2016
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- 6. @NYUEntrepreneur 75% of startups fail toreturn investors capital Shikhar Ghosh Harvard Business School
- 7. @NYUEntrepreneur So why doso many startups fail?
- 8. @NYUEntrepreneur “More startups fail froma lack of customers than from a failure of product development.”
- 9. @NYUEntrepreneur Top 12 ReasonsStartups Fail
- 10. @NYUEntrepreneur Top 12 ReasonsStartups Fail 42% cite lack of market need
- 11. @NYUEntrepreneur Successful Startups u Havereally unique ideas u Operate in “stealth mode” u Write bulletproof business plans u Have a first mover advantage u Raise a lot of money u “Get big quick” (worry about revenue later) u Fund ➨ Build ➨ Customers 11
- 12. @NYUEntrepreneur Successful Startups u Havereally unique ideas u Operate in “stealth mode” u Write bulletproof business plans u Have a first mover advantage u Raise a lot of money u “Get big quick” (worry about revenue later) u Fund ➨ Build ➨ Customers 12
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- 14. @NYUEntrepreneur14 1. Teams Secrets ofStartup Success
- 15. @NYUEntrepreneur15 2. Get outof the building Secrets of Startup Success
- 16. @NYUEntrepreneur16 3. Experiment & builditeratively Secrets of Startup Success
- 17. @NYUEntrepreneur The Playbook Individual IdeaTeam Startup Business 17 Entrepreneurs Festival Founders Unplugged Speakers & Events Website, Blog & Newsletters Entrepreneurs Network Clubs Summer Launchpad Innovation Venture Fund Future Lab Incubators Programs Blackstone LaunchPadCoaching Leslie eLabSpaces E-Team Grants Ignite Fellowships Startup Competitions I-Corps Healthcare Makerthon LLP Classes Startup Bootcamps Prototyping Fund Startup School
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- 24. @NYUEntrepreneur Startup School Tuesdays, 4:00-5:30pm uSep 20: Getting to Product Market Fit Part 1 u Sep 27: Getting to Product Market Fit Part 2 u Oct 4: Sizing Up Your Market & Competition u Oct 11: Testing Your MVPs & Prototypes u Oct 18: Acquiring Customers u Oct 25: Building & Growing Your Team u Nov 1: When & How to Raise Venture Capital u Nov 8: Measuring & Monitoring Metrics that Matter u Nov 15: Legal Essentials for Startup Founders u Nov 29: Managing your Intellectual Property u Dec 6: Storytelling & Pitching to Investors 24
- 25. @NYUEntrepreneur #n yu ef Lean Launchpad with SteveBlank August 24-28th In the Classroom
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- 29. @NYUEntrepreneur Blackstone LaunchPad Coaches 29 AliHeron Two Sigma Amy Rosen PPSG Erica Gruen xFoodNetwork Eric Martinez VSA Glen de Vries Medidata Glen Senk xUrban Outfitters Greg Slamowitz xAmbrose Harvey Homan xUrovalve Jim Kelliher Actifio Jay Kranzler Pfizer Jeff Dachis OneDrop Jen van der Meer Reason Street Joanna Schneier Cognotion Mark Pinney Magnetic Rob Fassino xThe Knot/XO Ryan Jacoby MACHINE Vince Passione LendKey Vivek Ragavan Siaras
- 30. @NYUEntrepreneur Blackstone LaunchPad Coaches 30 AndrewCohen Brainscape Brendan Dickenson Canaan Partners Brian Aeoeh KEC Ventures Brittany Gorevic Lattice Ventures David Aronoff Flybridge Giff Constable xNeo Jamyn Edis Dash Labs John Elton Greycroft Partners Katie Shea xHomeJoy Kim Armor Comcast Ventures Noah Dinkin FanBridge Owen Davis Alpha Prime Rob Grossberg TreSensa Sachin Kamdar Parsely Sutian Dong Female Founders Tom Weingarten Google Vlad Vuckicevic Meural Zack Schildhorn Lux Capital
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- 34. @NYUEntrepreneur Startup Funding Lifecycle 34 ① Discovery ② Validation ③ Customer Creation ④ Company Building Test assumptions about customer needs/problem &develop MVP Seek Validation that people are interested in your solution Begins to build demand & improve efficiency of customer acquisition Drive growth aggressively & execute business model Invention & ideation Grants Competitions Founders + Credit cards Angels Seed funds Venture capital funds Leasing Factoring Vendor finance Private equity Public markets Valuation* You are here Grants Crowdfounding Customers SBIR/STTR + Accelerators Friends & family
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- 44. @NYUEntrepreneur Successful Startups u Getout of the building to (in)validate assumptions before building u Are focused on serving a niche u Build multiple MVPs to learn u Validate revenue model early u PMF before raising venture capital u Customers ➨ Build ➨ Fund 44
- 45. @NYUEntrepreneur Successful Startups u Getout of the building to (in)validate assumptions before building u Are focused on serving a niche u Build multiple MVPs to learn u Validate revenue model early u PMF before raising venture capital u Customers ➨ Build ➨ Fund 45 ✓
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