The incubation process has three key phases: 1) An application and evaluation phase where a select few start-ups are chosen to participate every three months based on university strengths and clear expectations. 2) An intensive incubation phase focused on training, business model evaluation, and customer development planning to prepare for pitching to investors. 3) A customer development and funding phase where concepts are tested, operational execution occurs, and a pitch is made to investors for the opportunity to receive $25,000 in seed funding. Failed firms can reapply after one year.

1. INCUBATION PROCESS

2. HIGH-LEVEL
The long-term success of a start-up depends on its successful transition through key
phases and raising required funding along the way
Key Process Elements Success Criteria
• Official application and evaluation • Select few that fits the focus of the program
Application • Once every three months • Consider University or Ecosystem strengths
• Maximum 10 start-ups are selected • Clear communication of the expectations
• Training
• Full time attendance
Incubation • Business Model Evaluation
• Project Management Rigor
• Customer Development Plan
Phase • Preparation for the “Pitch”
• Hands on and diverse mentor base
Customer • Concept Test
• Customer Development • Successful graduates get $25,000 seed funding
Dev. & • Operational Execution • Failed firms can apply again 1 year later
Funding • “The Pitch” to investors
2 | Accelerator Process | November 2012 | Confidential | © 2012 Sente Advisory Services, LLC. All Rights Reserved.

3. 3-MONTH INCUBATION PROCESS
Training Preparing for the “Pitch”
VC Financing Business
Concept Solution Competition Pitch
Model
Business
Model Plan
Define the Define the What other How the Prepare the
Customer problem and its solution, how solutions or company “Pitch” and
Development size, potential it is different substitutes are intends to refine, and
beneficiaries than the out there, what make money, refine, and
Operational (size of the available their business which channels refine.
Planning market), substitutes, model looks and partners
prepare for why the team like, what their will be utilized,
Hiring Planning test, prepare is in the best strengths and and how it
the position to weaknesses should
presentation to make it a are organize its
VCs success operations and
cost structure
½ day 2 weeks 2 weeks 1 week 2 weeks 5 weeks
3 | Accelerator Process | November 2012 | Confidential | © 2012 Sente Advisory Services, LLC. All Rights Reserved.

4. DISCLAIMER
The information presented in this document is for informational purposes only and may contain technical inaccuracies,
omissions and typographical errors.
© 2012 Sente Advisory Services, LLC All rights reserved.
4 | Accelerator Process | November 2012 | Confidential | © 2012 Sente Advisory Services, LLC. All Rights Reserved.