MSTRI Entrepreneurship Program

Ray Lemieux, MSTRI Director

2008 Alberta Nanotech ShowcaseFriday November 21, 2008

Blue Session – 10:30 to Noon

Webster’s: noun, “one who organizes, manages and assumes the risks of a business or enterprise”

Venture Capitalist: ”one who is willing to cover month end payroll using a cash advance against his personal credit card in hopes of achieving my dream”

MSTRI’s: “ one who is willing to express their passion through the creation and building of a business enterprise where success is measured by achieving the many milestones within an undefined path and the resulting outcomes reward the founder, those who assisted along the way and the customer who benefited from purchasing the product or service. .

Entrepreneur

Webster’s: noun, “the activities conducted by one who organizes, manages and assumes the risks of a business or enterprise”

Venture Capitalist: ”one who commits one’s full resources (time, money and energy) on building a commercial enterprise for the purpose of securing financial independence by exercising an exit strategy”

MSTRI’s: “ Entrepreneurship is a lifestyle which requires one to learn and execute a wide range of duties and responsibilities while accepting a continuous but varying level of risk which exerts pressure on the individual and those who immediately surround him/her.

Entrepreneurship

•Not everyone can be or should consider becoming an entrepreneur.

• Few individuals adequately satisfy the entrepreneurship character matrix.

•Entrepreneurial skills cannot be taught but only learned, nurtured and realized from gaining first-hand experience.

•An advanced technical degree provides a more than adequate foundation for one to learn and address business and market issues.

•Entrepreneurial experience will demonstrate that all aspects of a business enterprise are important but the balancing point between them changes continuously.

•Commercial success will be achieved by addressing a customer’s need for a benefit that exceeds a competitive or substitute alternative.

Assumptions

•Allow individuals to identify and release their inner held entrepreneurial spirit to pursue technical and commercial success of a MNT concept for their future benefit and others.

•Provides a platform for technically trained individuals to gain hands-on entrepreneurial experience without enduring the full financial risk typically associated with this chosen career path.

•Expand the Alberta micro/nano industrial cluster by catalyzing the creation of new companies where their leadership possess an unhindered determination to bring innovative MNT based products to market.

Objectives

•A $75,000 non-repayable grant

•One (1) year Project TermInitiating: Targeting March 31, 2009 (or sooner)Proposal Submission: December 31, 2008

•Two Phases: Corporate Development and Business Development

•Final approval authorized upon execution of a MSTRI Contribution Agreement with the University of Alberta.

•Funding and project accounting administered through University of Alberta, Research Accounting.

Program

•A recent graduate of an advanced technical degree (within the last two (2) years).

•Must demonstrate a passion for pursuing a MNT based product concept of their origin.

•Applicant’s background and experience demonstrates a working familiarity with the regional MNT facility and equipment infrastructure.

•Applicant must have no current affiliation with an established company.

•Applicant must hold employment status in Canada.

•Applicant offers an entrepreneurial flare.

Eligibility

•Commercial opportunity description – Concept, Product and Market

•Entrepreneur Profile Justification (2 pages)

•Prototype DiscussionDesired functionality.Key barriers to be addressed.Development work plan (Facilities

and processes utilized)

•Detailed budget

•Criteria path w/technical and business development milestones identified.

•Resume or Curriculum Vita

•References (Three (3) Minimum)

Proposals

•Living expenses

•Business start-up expenses

•Business development expenses

•Intellectual property filing fees (patent & trademark)

•Micro/nano infrastructure utilization costs

•Prototype components and consumables

Eligible Expenses

•Company Creation – USA, Policy Statements, Employment Agreements, Corporate Identity-Trademarks

•Accounting System Development – Tax and Research Tax Credit

•Functional Micro/Nano Prototype

•Business Plan Preparation

•Market Analysis

•Patent Drafting

•Trademark Application Preparation

•Leveraged Funding

•Business Partner Recruitment

Deliverables

MSTRI wishes to thank:

•Alberta, Advanced Education and Technology – NanoAlberta

•Western Economic Diversification

•University of Alberta

•University of Alberta - Faculty of Engineering

•MSTRI Advisory Board Members - Past and Current

•Alberta’s MNT Community

For their continued support of the MSTRI initiative.

Acknowledgements

MicroSystems Technology Research Initiative

For More Information Contact:

Ray Lemieux – Director

Tele: 780 492 6102

Email: rlemieux@ualberta.ca

Office: Room 5-111 NINT Building,

University of Alberta Campus

MSTRI Program Information:

www.engineering.ualberta.ca/mstri

MSTRI Technical Program – Phase II Interval 5: Expression of Interest Deadline: November 30, 2008Process: On-Line Submission Visit: www.engineering.ualberta.ca/mstri

MSTRI Entrepreneurship Program – Process: Open ApplicationDecember 31, 2008

Current FundingOpportunities

Associate Director

Project Administrator

Recruiting Information Available on MSTRI Web Site

www.engineering.ualberta.ca/mstri

Competitions to be Announced ASAP

EmploymentOpportunities