The John E. and Alice L.
BUTLER VENTURE ACCELERATOR AT BABSON
MOVE FORWARD. The John E. and Alice L. Butler Venture Accelerator Program provides the ecosystem where Babson lives and breathes entrepreneurship. It’s where you take action, whether you’re looking to start or advance an entrepreneurial venture, or join a startup team. It’s where you explore opportunities and move your business concept forward. And, it’s where you come to turn your idea into a reality.
BOSTON
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SAN FRANCISCO
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WELLESLEY
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WWW.BABSON.EDU
GET FROM POINT A TO POINT B FASTER. Our entrepreneurial community offers unparalleled support throughout each stage of developing your organization. It’s easy to stay focused and take action when you’ve got access to resources that enhance our extremely entrepreneurial environment. And, being surrounded by like-minded entrepreneurs, you’ll find their ambition is contagious, helping you spend less time thinking and more time doing.
ADVICE FROM EXPERT ENTREPRENEURS
CROSS-CAMPUS COLLABORATION It’s all about who you know, and partnerships with the Center for Women’s Entrepreneurial Leadership (CWEL) and the Lewis Institute for social innovation—including Food Sol, focused on food entrepreneurs—give you access to additional connections that you can use to further progress your business.
As part of the accelerator program, you’ll gain special access to guest entrepreneurs and focused workshops, giving you an added advantage with just-in-time industry information and insights.
YOUR ENTREPRENEURSHIP FAMILY The accelerator is the only place where constant, intentional collaboration between undergraduates, graduates, and alumni occurs through one combined
Babson’s Entrepreneurs in Residence have included: » Daymond John, FUBU founder and “Shark Tank” host » Andrew Zimmern, “Bizarre Foods” host » Gail Simmons, “Top Chef” judge
program. And, like any good family, this group makes you feel accountable, with weekly reminder emails keeping you committed to the program— and taking your next step.
25+
WORKSHOPS EACH YEAR Past Workshop Topics
Ideation / Creating Social Value / Pitching to Investors / Business Entry Strategies / Legal Basics for the Entrepreneur
YOUR VENTURE. YOUR ACCELERATOR. The accelerator offers three phases, each with tailored resources and dedicated faculty advisers that will help you advance your business from one phase to the next.
EXPLORE » PURSUE » LAUNCH AND GROW » The customized support and services you receive
The focused environment, as well as the open
during the accelerator program are determined
lab spaces to collaborate, experiment, and
by your venture stage, your goals, as well as your
work, allow you to acquire the skills you need
entrepreneur experience. Prior to entering the
to succeed and move your business opportunity
program, you’ll complete an assessment intake
forward. As you progress through each phase,
form to determine whether you’ll start in phase
you’ll earn access to even more resources.
1, 2, or 3.
EXPLORE PURSUE YOUR OPPORTUNITIES
YOUR PASSION
LAUNCH &GROW YOUR BUSINESS
LEARN ABOUT BUSINESS AND HOW TO BE AN ENTREPRENEUR » Identify an opportunity » Define customer value proposition » Test on potential customers » Demonstrate market feasibility
DESIGN AND BUILD A SOLID FOUNDATION FOR A NEW BUSINESS VENTURE
TAKE AN ESTABLISHED BUSINESS VENTURE TO THE NEXT LEVEL OF SUCCESS
»C onduct industry and market tests
»R efine your team
»B uild your business model » Work on prototype or minimum viable product
»C ontact suppliers and customers »S ecure initial sales
»R ecruit team members
»C ontribute to the Babson Entrepreneurs blog
» I dentify operational partners (manufacturing, distribution)
»H old peer-to-peer advising sessions
»C ontribute to the Babson Entrepreneurs blog
»G row your business
Throughout the venture experience:
MENTORING / ADVISING / WORK SPACE / SELF-ASSESSMENTS / FUNDRAISING / PEER SUPPORT / FOCUSED WORKSHOPS
TAKE THE FIRST STEP PHASE 1
» EXPLORE
As you generate ideas and discover opportunities,
Actions here help focus your idea, including
the Explore phase helps you to validate your
continuous conversations and early business
business concept with primary market research
experiments with your potential customers to vet
and action. You’ll determine the feasibility of
your idea and initial business model. Throughout
your opportunity with industry, market, and
the phase, you’ll build connections in addition
customer analysis, allowing you to articulate
to recognizing the resources you already have on
the problem, social, and/or economic need
hand: who you are, what you know, and whom
your business aims to address.
you know.
YOU WILL:
RESOURCES
» Identify an opportunity » Define customer value proposition
»G roup advising sessions with dedicated faculty advisers
» Test on potential customers
»P eer mentors
» Demonstrate market feasibility
»C ommon work space » Workshops »R ocket Pitch
Goal of Phase 1:
COMPLETE FEASIBILITY STUDY DEMONSTRATING MARKET NEED
“ THE BIG BENEFIT OF THE PROGRAM IS CONNECTING WITH PEERS; it’s scary pursuing your idea alone. Here, there are resources everywhere, people of all backgrounds, people old enough to be my parents … but it’s not intimidating because everyone is really open and you learn about new opportunities you wouldn’t know about otherwise.”
– MICHELENE WILKERSON ’16
HIT THE GROUND RUNNING PHASE 2
» PURSUE
During the Pursue phase, you will shape your
This phase challenges you to focus on planning
opportunity and create your plan to implement
your business and ironing out details from
your business. You’ll continue to talk to your
prototypes to pricing. You’ll understand the
customers as part of your market research, build
importance of your team and learn how to most
prototypes, prove technologies, and build your
effectively tap into their skills. The focus of this
leadership teams.
phase is on your business model canvas, using it to not only map out your business, but to pivot your organization as needed.
YOU WILL:
RESOURCES
ADVANCED PURSUE
» Conduct industry and market tests
» Team meetings and one-on-one meetings with dedicated faculty advisers
May apply for:
» Build your business model » Work on prototype or minimum viable product
»P eer mentors
» Recruit team members
»R ocket Pitch
» Identify operational partners (manufacturing, distribution)
»C ommon work space
»H atchery space »B .E.T.A. Challenge »S eed funding »S ummer Venture Program
» Contribute to the Babson Entrepreneurs blog
Goal of Phase 2:
CREATE MINIMUM VIABLE PRODUCT OR SERVICE
“ I knew I was going to start a meadery, but I didn’t know how to do it. My business partner Carl Hirschfeld called it analysis paralysis.
I NEEDED MOMENTUM, NEEDED TO MOVE FORWARD, NEEDED SOMETHING TO JUMP-START THIS.
The accelerator helped us put concrete goals on the table. It forced us to ask questions, to get feedback, and to talk in front of lots of people— and often—to fine-tune our idea.”
– ELIZABETH BORGES M’10, HOUSE BEAR BREWING
SURPASS YOUR COMPETITION PHASE 3
» LAUNCH & GROW
The last phase of the accelerator is really just
One-on-one conversations with advisers, who
the beginning. You’ll launch your venture and
have experience in raising funds or as investors,
work to create a revenue stream and become
will help you grow your business. Their guidance
a self-sustaining business. As you work to secure
will help you tackle initial sales discussions,
investors, you’ll also market your products and/or
prepare you for conversations with investors,
services for continued growth and expansion.
and refine your organization.
YOU WILL:
RESOURCES
» Refine your team
»O ne-on-one conversations with dedicated faculty advisers who teach at Babson and have lived the entrepreneurial experience
» Contact suppliers and customers » Secure initial sales » Contribute to the Babson Entrepreneurs blog » Hold peer-to-peer advising sessions » Grow your business
»P eer mentoring »C ommon work space
LAUNCH/GROW ORGANIZATIONS May apply for: »H atchery space »M eetings with legal professionals and other service providers »M eetings with Entrepreneurs in Residence »C onsultations with marketing and PR experts »B .E.T.A. Challenge »S eed funding »S ummer Venture Program
Goal of Phase 3:
GENERATE REVENUE AND LOOK FOR NEW OPPORTUNITIES
“ The accelerator resources are integral to where we are today. We have earned dedicated office space alongside five other ventures, so it’s a great, collaborative environment. It also has offered an easy way for us to build out our network and interact with potential customers.
WHEN INVESTORS SEE WE’RE PART OF THE ACCELERATOR AT THE NUMBER ONE SCHOOL FOR ENTREPRENEURSHIP, IT MITIGATES RISK. IT ADDS TRUST AND VALIDITY.”
– ROBERT DALTON M’14, 88 ACRES
SHARE YOUR STORY. INTRIGUE INVESTORS.
As you work to create a self-sustaining business, you’ll continue to have access to Babson’s exclusive entrepreneurship network, including our network of more than 36,000 entrepreneurs of all kinds. Plus, you can continue to tap into your support network as you get your business in front of larger audiences and investors. Rocket Pitch/
Summer Venture Program /
Pitch your business idea—in three minutes—to
Apply to the Blank Center’s Summer Venture
an audience of students, faculty, entrepreneurs,
Program to take your business to the next level.
investors, and service providers at the annual
This 10-week intensive experience supports up to
Rocket Pitch event in late October. An open
15 of the most promising MBA and undergraduate
networking reception follows the event so
teams from Babson, Olin, and Wellesley colleges
you can connect with other entrepreneurs
each summer, and includes housing, work
and investors directly.
space, advisers, and a speaker series, among other resources.
B.E.T.A. Challenge/ Submit an application to the annual spring
MassChallenge/
competition, Babson Entrepreneurial Thought
Compete in MassChallenge, a global business
and Action® (B.E.T.A.) Challenge, demonstrating
competition based in Boston that provides
the milestones your business has achieved by
entrepreneurs with resources to successfully
taking action. As a B.E.T.A. Challenge participant,
launch their ventures. Finalists receive mentorship,
you are eligible for the grand prize of $20,000 in
training, office space, and a chance to win a share
cash, plus services-in-kind donations from alumni
of $1 million, among other free resources.
and corporate sponsors, awarded in each of the three tracks: undergraduate, graduate, and alumni.
“ THE SUMMER VENTURE PROGRAM OFFERS A HUGE AMOUNT OF RESOURCES, SUCH AS OFFICE SPACE, NETWORKS, AND, IF NEEDED, SOURCES OF FUNDING. I am still in constant contact with all the mentors; their experience is the biggest resource for me. I also try to attend as many accelerator sponsored events as I can, including outside speakers and events like Rocket Pitch, where there are a ton of networking opportunities.”
– ALEXANDER HUANG ’15, REDESIGN
MOVE FORWARD. START HERE. PARTICIPANTS Students / Join the accelerator during the school year, or during the 10-week summer intensive.
Alumni / Join the program in the Pursue and Launch/Grow phases.
MENTOR Experienced Entrepreneurs / Volunteer your time and serve as a consultant to the businesses.
JOIN THE PROGRAM OR BECOME A MENTOR
Contact Cindy Klein Marmer at cklein-marmer@babson.edu, or Antonette Ho at aho1@babson.edu to learn more.
BUTLER VENTURE ACCELERATOR PROGRAM WWW.BABSON.EDU/ACCELERATOR
FACEBOOK.COM/BABSONENTREPRENEURS @BABSONESHIP
ABOUT THE ARTHUR M. BLANK CENTER FOR ENTREPRENEURSHIP The John E. and Alice L. Butler Venture Accelerator Program is the signature cocurricular program at The Arthur M. Blank Center for Entrepreneurship. The center focuses on expanding the practice of Entrepreneurship of All Kinds™ through programs, such as the venture accelerator, and global collaborative research initiatives that inspire and inform Entrepreneurial Thought and Action®. Babson faculty, staff, Entrepreneurs In Residence, and mentors cannot make a financial investment or accept equity in, or accept compensation or remuneration of any kind from a Babson student business while the student is enrolled at Babson College. This prohibition continues for a period of 12 months after the student’s graduation from the College, withdrawal from the College, or transfer to another college/university.
BUTLER VENTURE ACCELERATOR PROGRAM WWW.BABSON.EDU/ACCELERATOR
WWW.BABSON.EDU