n uvention web for mccormick advisory council

NUvention Web

Todd Warren

• Todd Warren was teaching as a visitor in EECS

• Approached by Dean Ottino and Michael Marasco

• Take NUvention Medical but:• Focus on Information Technology• Include Undergraduates and a Broader Set of Students

• Key Differences with IT:• We could build products more quickly—opportunity to have

a “live” product at the end of 2 quarters• A methodology for tech startups called “Lean Startup” was

forming• Hot investment market

Nuvention Web: Origin

• 3rd year begins in Winter Quarter 2012• 110 students and 15 teams have taken to-date• 120 students applied for NUvention Web 2012• 8 Teams of 8 targeted for 2012 – 64 students

• 4 Teams are still continuing• Advisory Board from Industry for Mentoring and

Evaluation• Class Alumni are also very engaged

• Faculty Team• Core: Marasco (Farley), Riesbeck (EECS), Warren• Lecture: Sahwney (Kellogg)• Advisors: Baker (Feinberg), Birnbaum (EECS), Bustamante

(EECS), Cast (Kellogg), Choudhary (EECS), Contractor (IE), Hammond (EECS), Hay, White (IE)

NUvention Web Overview

NUvention Web Draws From Across The University

Kellogg School of Management Graduate

28%

McCormick School of Engineering and Applied

Science Graduate25%

McCormick School of Engi-neering and Applied Science

Undergraduate24%

Medill Graduate3%

Medill Undergraduate1%

School of Communica-tions Undergraduate

3%

SESP Undergraduate1%

The Graduate School Graduate

4%

The Law School Grad-uate1%

Weinberg College of Arts and Sciences Undergraduate

12%

NUvention Web Students 2010-2012

160 total

Teams 5 to 8 peopleEach member has a primary and secondary role

Team Leader

(1)

Architects & Developers

(2+)

Project Management

1-2

Interaction Design 1-2

Marketing & Sales

(2)

Craig Asher Vital FinancialFrank Barbieri TransperaViresh Bhatia InstallshieldJeffrey Bier Beir & Co.Bill Bliss VMWareJim Ewel AdomotryRick Fink Miramar Venture PartnersGrant Gochnauer VodoriSuneel Gupta GrouponWarren Holtsberg MVC CapitalTim Krauskopf Round Lake Designs, LLCBret Maxwell MK CapitalMatt McCall DFK New World VenturesKristin McDonnell Limelife .comSteve Olechowski Google/FeedburnerBob Plaschke Sonim Technologies, Inc.Vivek Ragavan Actelis NetworksRob Shurtleff Divergent VenturesBen Slivka DreamBox Learning, Inc.Tim Stojka Agentis EnergySteve Subar OK-LabsHon Wong Symphoniq

Committed Advisory Board

• Work together as a team to:• Develop a workable business

concept• Research and classify customer

needs• Design a compelling web or

mobile product• Build and iterate the product in a

team environment• Launch the product on the web• Attract and retain initial customers

Course Goals

• “Lean Startup”• Minimum Viable Product• Running Lean (Maurya)• Customer Development (Steven Blank)• Business Model Canvas (Osterwalder)

• Agile Development• Short Iterations• Continuous Integration• Product Slices

• User Centered Design• Contextual Design (Holtzblatt)• Storyboarding• Scenarios and Personas

Curriculum

NUvention Web First Quarter

•Define Customer Segments

• Initial Concept Critique•Landing Page•Tool and Environment Selection

Product Hypothesis

•Minimum Viable Product•Value Proposition•Hello World Application•Storyboarding and UI•Depth Customer Research

Concierge MVP and Customer

Validation •Agile Development•Customer Acquisition Strategies

•Complete Business Model Canvas

MVP and Initial Canvas

•Pitch Development•Concept Demo• Initial Development•Real World Feedback

Advisor Pitch and Demo

PreclassConcept

Development

NUvention Web Second Quarter

•Critique of updated canvas

•Launch Planning• Iteration Planning•Understanding the Pivot•Startup Metrics

Time to Pivot?

•Revisiting the Canvas•Agile Development•Continuous Deployment•Compelling UI

Development & Canvas Iterations •Building Awareness

•Positioning•Customer Recruitment•Successful Launches

Soft Launch

•Detailed Canvas•Practice Pitch•Financing your startup•Real World Feedback

Final Pitch, Product, Canvas

AB Feedback

Alumni Success