Business Model Development for Technology Start-Ups
[The application deadline has passed. The organizers have judged the applications received and communications have gone out to each applicant on Dec. 22, 2017. The cohort will meet on Jan. 26, 2018 for the first time.]
ICAP is a statewide technology-commercialization program offered by the Virginia Network of Small Business Development Centers, George Mason University, and local sponsors (SVTC, SBDC, JMU X-Labs).
Based on the National Science Foundation’s I-Corps™ program for Lean Startups, ICAP 2.0 helps inventors and entrepreneurs take the right first steps in bringing new technologies and innovations to market.
During this FREE 3-week program, you will work with ICAP instructors and your teammates to learn techniques that will help you identify potential customers, learn their needs and how you can build a successful business model from that knowledge.
The Short Course is the beginning of an ICAP process that guides companies through the Five Steps to Startup Success:
- Validate your business model
- Build the right team of three or more members
- Develop a minimum viable product (MVP)
- Create early sales traction
- Establish distribution channels and key partnerships
Who is Eligible?
All Virginia early-stage technology innovators and entrepreneurs (faculty, students, or the community at large) who are seeking to explore the commercial prospects for their innovations are encouraged to participate in this regional cohort.
- December 15, 2017 – Applications due by midnight
- December 22, 2017 – Acceptance notifications and communication from Bob Smith, a seasoned advisor, with next steps and instructions, including how to prepare for the first session.
- January 26, 2018, 9:00am-3:00pm – Kick-off Classroom Introductory Session.
We meet in JMU’s Lakeview Hall, Harrisonburg. (Location | Google Maps)
- February 2, 2018 – Each team participates in a pre-scheduled telephone review of the team’s Customer Discovery Progress over the first week
- February 9, 2018, 9:00am-Noon – Final Team Presentations at JMU’s Lakeview Hall
During this 3-week program, there is extensive work done outside the classroom. In addition to the two class meetings, participants should expect to spend another 10-15 hours per week on customer discovery and course assignments.
At the conclusion of the program, you will remain connected with your ICAP trainers and SBDC Business Advisors to continue your progress on the Five Steps to Startup Success.
The program is designed to generate a maximum impact over a relatively short duration, and should be considered a required first step for anyone interested in commercializing a technology or product, whether through a startup or licensing arrangement.
Some graduates of this cohort may be eligible to apply to NSF’s full National Seven-week I-Corps Program in which includes non-dilutive grants for customer discovery and prototype development. Additionally, this program can help teams develop better submissions for SBIRs and CRCF grants from Virginia’s Center for Innovative Technologies.
For more information email: Bob@masonsbdc.org
This Cohort is hosted by the Shenandoah Valley Small Business Development Center, JMU X-Labs, and the Shenandoah Valley Technology Council.