2024 AUTM University

Startup Business Development Course

October 21-23
Portland Marriott Downtown Waterfront 
Portland, Oregon        
 

Monday, October 21        

Preparing for The Deal
7:00 – 8:00 a.m. Breakfast on your own
8:00 – 8:30 a.m. Welcome & Course Overview
  • Meet the Instructors
  • Learn about the course format
Introduction to Start-up Deals in a University Environment
  • What is a start-up deal?
  • Types of start-up deals
  • Why universities engage in this activity
  • University structures for supporting start-up activity
    • Entrepreneur-in-residence programs
    • Incubators
    • Investment funds
8:30 – 10:15 a.m.  Preparing for Start-up Deals I
  • Institutional readiness
    • Policies
    • Setting expectations
    • Institutional commitment/risk tolerance
    • Start-up vs licensing pathways
  • Foundational concepts in start-up deals
    • Corporate structures
    • The role of boards
    • Legal representation for the start-up
    • What to know about securities laws
10:15 – 10:30 a.m. Break
10:30 – 12:00 p.m. Preparing for Startup Deals II
  • Foundational concepts in start-up deals (continued)
    • Types of capital
    • The start-up capital business model
    • SBIR/STTR Program
    • Funding resources
    • Introduction to Equity, convertible notes, SAFES, and other capital instruments
Group Discussion/Activity/Case study
12:00 – 1:00 p.m. Lunch 
1:00 – 3:00 p.m. Working with Faculty Entrepreneurs I
  • Roles in a start-up
    • Faculty roles
    • TTO roles
    • Other roles
  • Lean start-up model & I-Corps
  • Business planning beyond the canvas
    • IP strategy
    • Product development pathways
    • Regulatory pathways
    • Fundraising strategy
3:00 – 3:30 p.m. Break
3:30 – 5:00 p.m. Working with Faculty Entrepreneurs II
  • Recruiting executive management
  • Developing an investor pitch
  • Leveraging ecosystem resources
Group Discussion/Activity/Case study
5:30 – 6:30 p.m. Networking Reception
 

Tuesday, October 22        

The Deal
7:30 – 8:30 a.m. Breakfast on your own
8:30 – 10:00 a.m. The Start-up License Deal I
  • Differences/similarities to other licensing deals
    • Express licenses
    • Role of faculty entrepreneur – TTO representation
    • Options vs Licenses to start-ups 
  • Components of a start-up deal
    • Other agreements – consulting, sponsored research, corporate agreements
  • Conflicts of Interest and Commitment
    • Faculty COI/COC
    • Institutional COI
10:00 – 10:30 a.m.    Break
10:30 AM – 12:00 p.m. The Start-up License Deal II
  • Approaches to managing COI/COC in venture deals
  • Equity distributions
    • Vesting
    • Timing and tax implications
Group Discussion/Activity/Case study
12:00 – 1:00 p.m.     Lunch
1:00 – 3:00 p.m. Venture Financing, Equity, and Other Terms I
  • Convertible Note Terms
    • Term and interest
    • Discount
    • Caps
  • SAFE Terms
    • History of the SAFE instrument
    • Advantages/disadvantages for investor/entrepreneur
  • Equity Terms
    • Types of stock – common, preferred
    • Priced rounds
    • Liquidation preferences
    • Anti-dilution provisions
    • Control provisions
    • Rights of shareholders
3:00 – 3:30 p.m. Break
3:30 – 5:00 p.m. Venture Financing, Equity, and Other Terms II
  • Shareholder agreement terms
  • Understanding cap tables
  • Exits and waterfall analysis
Discussion/Activity/Panel/Case study

Wednesday, October 23        

POST-DEAL MANAGEMENT
7:00 – 8:00 a.m. Breakfast on your own
8:00 – 9:00 a.m. Portfolio Management
  • Board participation vs information rights
  • Fair market value determinations – 409A valuations
  • Reporting obligations of the licensee/start-up
  • Strategies for managing the university’s equity holdings
9:00 – 10:00 a.m. Managing Challenges
  • Issues that arise and mitigation strategies
    • Challenges with investors
    • Challenges with faculty and co-founders/investors
    • Challenges with company success
10:00 – 10:30 a.m. Break
10:30 A.M. – 12:00 p.m. Group Discussion/Activity/Case study

Open Forum
12:00 – 12:30 p.m. Wrap-up and Conclusion