Moneyball

Evidence-Based Entrepreneurship&

Investment Readiness Levels

Steve Blankwww.steveblank.com @sgblank

Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo

Lean Startup

Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo

Lean Startup

Business Model Canvas

Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo

Lean Startup

Business Model Canvas

Customer Development+

Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)

Hypotheses

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)

Hypotheses Experiments

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)

Hypotheses Experiments Data

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)

Hypotheses Experiments Data

Mentors

Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo

2,200 Teams Worldwide

• NSF Innovation-Corps

• 44 Universities Worldwide

• 30 Accelerators/Incubators

• Fortune 500 Companies

Training 300 Educators/Year

• Lean LaunchPad Educators Seminar• Lean LaunchPad Incubator/Accelerator Seminar

http://nciia.org/LLP

LaunchPad Central Software

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)

Hypotheses Experiments Data

LaunchPad Central Software

DataDataData

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)

Hypotheses Experiments Data

Weekly Progress

LaunchPad Central Software

DataDataData

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)

Hypotheses Experiments Data

Weekly Progress Experiment Scorecard+

LaunchPad Central Software

DataDataData

Lean Startup

Business Model Canvas

Customer Development Agile Engineering+ +

Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)

Hypotheses Experiments Data

Weekly Progress Experiment Scorecard

Data, Experiments, Trajectory, IRL+ =

Data on Hypotheses, Pivots, MVPs, Metrics

Evidence and Trajectory

Cohort Leaderboard

Customer Interviews

Hypotheses to Test

Invalidated Hypotheses

Weekly Canvas Updates

Track All Hypotheses

Testing

Scorecard:9 way Kanban Board

with data

Advanced Data Mining

NASA

NASA/DOD Technology Readiness Level (TRL)

• Formal Way to assess project maturity• Quantify Relative Risks• Data Driven• Adopted by NASA, DOD, FAA, ESA…

NASA/DOD Technology Readiness: Levels 1 & 2

Basic Technology Research• Basic principles observed• Technology concept formulated

Concept

NASA/DOD Technology Readiness Levels 3 & 4

Research to prove Feasibility • Experimental proof of concept• Breadboard validation in lab

Research

Concept

NASA/DOD Technology Readiness Levels 5 & 6

Demo Prototype • Breadboard validation outside the building• System demo in real-world

Research

Concept

Demo

NASA/DOD Technology Readiness Levels 7, 8, 9

Deployment• System Development• System deployed in real-world

Research

Concept

Demo

What Can We Do With All This Data?

The Investment Readiness Level

Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo

Investment Readiness Level

Investment Readiness Level

We can do the same for new ventures

Investment Readiness Level

We can do the same for new ventures

Emphasis is on data

Investment Readiness Level

• A Formal Way to Quantify Relative Risks• Data Driven• Analog to NASA/DOD

Technology Readiness Level (TRL)

Investment Readiness: Levels 1 & 2

Hypotheses• Value Proposition summarized• Canvas hypotheses articulated

Hypotheses

Investment Readiness: Levels 3 & 4

Problem / Solution Fit• Problem Solution fit• Low fidelity MVP

Hypotheses

Problem/Solution

Investment Readiness: Levels 5 & 6

Validate• Product/Market fit• Right side of canvas

Hypotheses

Problem/Solution

Product/Market fit

Investment Readiness: Levels 7 & 8

Validate• Left side of canvas

Hypotheses

Problem/Solution

Product/Market fit

Investment Readiness: Levels 9

Metrics That Matter

Hypotheses

Problem/Solution

Product/Market fit

Left side of the canvas

Technology Readiness Level

Problem/Solution

Hypotheses

Product/Market Fit

Validate Right side of Canvas

Validate Left side of Canvas

Metrics that Matter

InvestmentReadiness Level

IRL Deployed …

“God is not on the side of the big arsenals, but on the side of those who shoot best.”

Voltaire

For more info Incubator/Accelerator Class http://nciia.org/LLP

www.steveblank.com

@sgblank

Lesson Learned Presentations Tonight

UCSF Mission BayByers Auditorium

5:30 – 7:30pm

www.steveblank.com

@sgblank

Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo