CALIFORNIA STATE UNIVERSITY, FULLERTON | MIHAYLO COLLEGE OF BUSINESS & ECONOMICS
CSUF STARTUP INCUBATOR
Director’s Message For many startups, joining an incubator can make good sense. Yet, incubators are not all alike; this requires the startup to do some homework and ask some basic questions. The first question to address is for the startup itself. What type of help does your startup need? Most startups will answer this question saying that they need help finding investor capital. An infusion of cash may well help the fledgling business, but the “ask” of the investor can be a waste of time if the startup is not prepared for the “due diligence” process. Many seed investors have very specific requirements for their prospective startup investments. The list can include proof of concept, intellectual property, a full management team, documented customer development, prototypes, etc. My experience is that few startups have these essentials. Readiness for funding is a key criterion for the startup looking for funding. The investors also want to see a “pitch” via PowerPoint, an executive summary, a business model canvas, and a business plan. Thus, this is how the an incubator can help. You need to ask the prospective incubator to describe what they do. Some incubators specialize by industry or category such as food, biotech, clean-tech, or even agriculture. Other incubators may be non-profit in nature and may focus on a geographic region with the hopes of local economic development and job creation. Still other incubators may have a decidedly aggressive investment posture with a trade of cash for a significant equity slice.
The CSUF Startup Incubator is adjacent to the University in downtown Placentia and plans are in the works to expand to Cal State Fullerton’s Irvine campus. The Incubator provides promising and coachable startups access to technical advice, assistance in the hunt for seed capital, a place to meet and work, a large network of veteran entrepreneurs, and expert guidance concerning patents, licensing, royalties, contracts, and new venture formation. The CSUF Startup Incubator functions as a “hatchery” for innovation; the goal would be to commercialize resident startups within 180 days. Many traditional business incubators coddle new ventures and make money from renting the facility and providing professional services to them. In contrast, the CSUF Startup Incubator will aggressively challenge its residents to “succeed quickly or fail fast.” The Incubator will achieve this through stringent feasibility testing, thorough market research, verified proof of concept, and rigorous beta testing of products and services. An experienced team of content experts, innovators and entrepreneurs will optimize the commercialization process by helping innovators avoid mistakes and lost time. Are you ready for this challenge? John Bradley Jackson Director CSUF Startup Incubator, CSUF Center for Entrepreneurship
The CSUF Startup Incubator Helps Entrepreneurs Find Their Pathway To Success
DETERMINING THE RIGHT FIT
Every entrepreneur who is interested in joining the CSUF Startup Incubator must apply and meet with Incubator staff. The application process includes submitting answers to a questionnaire about the entrepreneur’s concept, a business concept one pager or executive summary, and a business model canvas. Once an application has been received, Incubator staff will review it and if the idea and the founder/founding team meet the requirements the entrepreneur will be asked to have at least one face-to-face or phone meeting. The purpose of these meetings is to understand what the entrepreneur’s goals are for their business and to determine the coachability of the entrepreneur. The purpose of this process is to determine if the entrepreneur is a good fit for the Incubator and if the Incubator is a good fit for the entrepreneur as well The entrepreneur’s success is our paramount concern and this process helps to ensure that outcome.
INCUBATION
Once an entrepreneur has been accepted to the CSUF Startup Incubator they become a Resident. A Resident’s stay at the Incubator lasts for six months but can be extended at the discretion of the Resident. At the beginning of an entrepreneur’s residency at the Incubator a meeting will be held that includes the Resident and any teams members they have, their startup coach, Incubator staff, and any other individuals who will have an important role in the startup’s development. The purpose of this meeting is to determine a custom scope of work for the next six months that will enable the Resident to move their startup along the right path to a successful launch. With a scope of work agreed to, the real work begins. The Resident will immediately get to work on implementing the plan as set out in the scope of work under the weekly or biweekly advisement of their startup coach and Incubator staff. Resources will be made available to the Residents to
OFFICE HOURS AND SEMINARS
Every week, the CSUF Startup Incubator welcomes experts in to their offices for office hours. Office hours are an ideal time to discuss important issues that a Resident is facing and to get professional advice. On Wednesday nights, the Incubator hosts seminars that cover topics that are relevant and immediately applicable to entrepreneurs. Seminars are given by experts in various fields and topics have included: Equity Crowdfunding, Patent Law, Internet Marketing, Branding, as well as many other topics.
NETWORK
The CSUF Startup Incubator network is vast and multi-faceted. In addition to the more than 500 mentors associated with the program and the staff, this network includes: Cal State Fullerton professors, students, and staff; Cal State Fullerton alumni; a vast business network; investors, including Titan Angels; and many other friends of the Incubator.
augment their activities as needed, including: a student consulting team from Cal State Fullerton, experts from our mentor pool, introductions to professionals (including investors), and many more. Residents will be immersed in the lean startup methodology of entrepreneurship. This methodology emphasizes the need to get out of the building and talk with customers and to test key assumptions. Our staff has taught lean startup in the classroom, used it to start their businesses, and has seen how effective it can be when implemented correctly. The goal is to have every Resident learn lean startup so that they will be equipped with the necessary skills to make their current venture a success as well as all their future endeavors.
MENTORS
The CSUF Startup Incubator has a network of over 500 mentors from dozens of industries and a dedicated staff of Entrepreneurs in Residence with decades of entrepreneurial experience. Every entrepreneur that is accepted into the CSUF Startup Incubator is assigned a dedicated startup coach for their six month residency.
Networking is an absolutely crucial component of every entrepreneur’s success and CSUF Startup Incubator Residents immediately become a part of that network, which we call the CSUF Entrepreneurship community.
WORK AND MEETING SPACE
Residents have 24/7 access to CSUF Startup Incubator facilities to work and conduct meetings. The Incubator’s offices are currently located in Placentia and there is a planned expansion at Cal State Fullerton’s Irvine campus. Reflecting the bootstrap ethos of the Incubator, the space is meant for work and has all the amenities that an entrepreneur needs to launch a startup. Residents will also have access to select university facilities upon request. This access is ideal for meeting with Cal State Fullerton faculty, staff, and students.
QUARTERLY BUSINESS REVIEW
Every quarter, the CSUF Startup Incubator brings in an assortment of investors, bankers, entrepreneurs, and other professionals to review the Residents’ current businesses. Residents deliver a PowerPoint presentation and receive valuable feedback and networking opportunities.
Pop Art for a New Generation
By Travis Lindsay and Kevin Emery
For most people, art is a hobby and for those who pursue art as a vocation many find commercial success elusive. Geoff Pascual ’16 has already had some commercial success with his company, Pascual Productions, through which Geoff sells his pop art originals and prints online and at conventions. Last year, Geoff entered the CSUF Startup Incubator where, with the help of Incubator staff and mentors, Geoff explored new avenues to promote and sell his creations; one such avenue will be Titan Shops. “Being a business major in and of itself sets me apart as an artist. It’s a decision I made for myself that worked for me, and I’m positive that my time in business school has contributed to the success of Pascual Productions. From inventory management to business communication situations, I see myself using the skills I learned at Fullerton every day,” said Pascual. Geoff learned a lot of valuable lessons from his CSUF Entrepreneurship classes and with the help of the CSUF Startup Incubator he sees his company only getting stronger. “The Incubator has great mentors from all walks of life that I can go to for any questions I have. I would say the networking and information shared
at the Incubator is very valuable. It’s opened a lot of opportunities for me in improving my business. It helps to get another person’s perspective,” said Pascual. By creating a successful business, Geoff has blazed a path for future entrepreneurs in the pop art industry at CSUF. While Geoff ’s love of art started out as a hobby, Geoff ’s passion and dedication in creating his own business has made him into the success he is today. As Pascual Productions continues to grow, one thing is abundantly clear: Through the help and support of the CSUF Startup Incubator, anything is possible for the entrepreneurs of tomorrow. Left Image: Painting by Geoff Pascual Above Image: Picture of Geoff Pascual working in his studio
John Bradley Jackson Director & Professor CSUF Startup Incubator & Center for Entrepreneurship
John Bradley Jackson is the Director for the Center for Entrepreneurship and CSUF Startup Incubator at California State University, Fullerton. At CSUF, John is a Professor of Entrepreneurial Marketing, New Venture Creation & Launch, and Social Media. Known affectionately as “Professor JJ�, John brings practical marketing and sales knowledge to the classroom from both Silicon Valley and Wall Street. John has also written four books on entrepreneurship and social media marketing and is a founding member of angel investing group, Titan Angels.
Travis Lindsay Entrepreneur in Residence CSUF Startup Incubator & Center for Entrepreneurship
Travis Lindsay is an Entrepreneur in Residence for the Center for Entrepreneurship and the CSUF Startup Incubator. As one of the founders of the CSUF Startup Incubator and angel investing group, Titan Angels, and through his work with CSUF Entrepreneurship students, Travis has helped dozens of entrepreneurs develop their business concepts into actionable plans by advising them on their financial plans and overall strategy.
Phillip Stinis Entrepreneur in Residence & Professor CSUF Startup Incubator
Phillip Stinis is an Entrepreneur in Residence at the CSUF Startup Incubator, leading the marketing and operations at their location in the City of Placentia. He is their Chairman of the Selection Committee, reviewing business plans on a continuous basis and selecting the best candidates to become residents of their Incubator. Phillip is also a founding member of Titan Angels and is a Professor at CSUF, teaching students Lean Startup, how to write Business Plans, and Investor Pitch Decks.
Center for Entrepreneurship CSUF Startup Incubator 800 N State College Blvd Mihaylo Hall, SGMH 3280 Fullerton, CA 92831
CSUF Startup Incubator (Placentia) 120 S Bradford Ave Placentia, CA 92870
business.fullerton.edu/Center/ Entrepreneurship/Incubator csufentrepreneurship@fullerton.edu