Blog Entries With Tag "Chevron"
Day One of the Cleantech Open National Academy was focused on creating business plans for sustainable ventures. The day began with a warm welcome by Christina Ellwood, Cleantech Open Academy Chair. Ellwood was followed by an overview of the Cleantech Open Business Competition by the Executive Director of the Cleantech Open, Rex Northern.
Next, the National Sustainability Chair, Nancy Fell, and two of her colleagues, presented on the importance of sustainability in the Cleantech Open Competition. This included the basic tenants of sustainability for cleantech startups and the resources available to the semifinalist teams.
Keynote speaker, Randy Komisar of Kleiner Perkins Caulfield & Byers, spoke on “Getting to Plan B,” based on his book of the same title. Komisar advised the entrepreneurs that their first plan might always not be the best one and it is wise to be flexible with strategies. He gave the semifinalists a template “dashboard” which many attendees found intriguing. The dashboard led the semifinalists through the process of thinking about the next path to get where they are headed, or “plan B.”
Komisar was followed by a lecture about “Business Plan Essentials” by Managing Director of Claremont Creek Ventures, Randy Hawks and Cleantech Industry Partner at Halo Fund, Leif Langersand.
Later in the morning, Suszanne Bell of Wilson Sonsini Goodrich Rosati spoke on the importance of patents and trade secrets. Her lecture was followed by a breakout session where teams discussed creating IP of value to the company and to stakeholders.
Christina Ellwood and Richard Nieset began the afternoon session with information about market strategy, specifically in finding and understanding the customer. The talk also included information about value proposition and competitive advantage. Ellwood took the stage during the always challenging “post-lunch” speaking slot, but kept the semifinalists engaged and interested in clarifying their target audiences and determining their main messages.
Author and Professor Steve Blank gave the last riveting lecture of the day about making money by using the business model. His session was followed by the third and final working session of the day for the semifinalist teams.
Thank you to Chevron, Autodesk and PG&E who were Day One’s corporate sponsors.
By Jackie BlairComments - Add a Comment
The Cleantech Open National Academy continued full speed ahead on Day 2 with a series of interactive lectures and workshops covering financial modeling, fundraising, capital structure and the investor pitch. The Academy was held at the Doubletree Hotel in San Jose from Friday, July 25 through Sunday, July 25, 2010.
Christina Ellwood, Cleantech Open Academy Chair, led the 2010 Semifinalist teams through the day’s proceedings, which started with a presentation and workshop by Peter Liu, founder of New Resource Bank, on the key elements of an investor-worthy financial model. Peter emphasized that investors value realistic projections that identify key risks and stressed the importance of sound forecasting of working capital needs.
Keynote speaker, Trond Unneland of Chevron Technology Ventures, followed with a presentation on corporate venture capital. When approaching a corporate investor, Trond advised start-ups to demonstrate their strategic fit in the company’s core business. Greg McAdoo of Sequoia Capital closed out the morning session with a crash course in fundraising by explaining sources of funding, the investment process and how to get an introduction to investors.
Herb Fockler of WSGR began the afternoon session with a detailed look at the capital structure of a VC funded company as it progresses through its lifecycle from founding to IPO. Herb continued with a seminar on the fundamentals of a term sheet. The day closed with an interactive lecture and workshop presented by Andrew Chung of Lightspeed Venture Partners on the fundamentals of an investor pitch and common content and delivery issues entrepreneurs should avoid.
Special thanks to the speakers, mentors and volunteers that make the Academy possible and to the day’s corporate sponsors, Citi and Faegre & Benson.
By Jeff MuirComments - Add a Comment