The MSU Center for Entrepreneurship for the New West brings together its entrepreneur students and MT companies for collaboration and success

The MSU Center for Entrepreneurship for the New West http://www.montana.edu/cob/centernewwest/ is an excellent example on how its students are working with real-world or potential tech transfer companies in Montana.

" At The Center for Entrepreneurship for the New West, you will have the opportunity to work for start-up or growth technology companies that need your abilities. You can apply the knowledge you gain from group projects, case studies, and classroom exercises in a real-life business. Your client companies will benefit from your skills, and you achieve the experience of implementing those skills in real-world situations.

The Center for Entrepreneurship for the New West is just one example of how MSU-Bozeman College of Business delivers the best possible undergraduate business education.

This unique program in entrepreneurship resides in TechRanch, a technology business incubator, and is closely aligned with MSU TechLink, a NASA/Department of Defense technology transfer center. These partnerships provide students exposure to star-tup entrepreneurial environments and to the processes for vetting business opportunities from available technological innovations.

Together, we create a remarkably practical learning experience for students from all academic disciplines who want to learn about starting and sustaining companies. "

Here are a few of the ongoing and past collaborations.

Many thanks to Rich Semenik, Dean of the MSU School of Business for passing these along.
Russ

Montana State University

College of Business

Center for Entrepreneurship for the New West http://www.montana.edu/cob/centernewwest/

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Student-Entrepreneur Projects 2004:

Company
Camelina:

An initiative focused on bio-diesel and other “high tech” value added products based on Camelina.

This initiatives goal is to create a Montana corporation that owns or licenses (from MSU) the added-value technology.

With this:

Farmers will get market rate for crop

The Crusher will generate profit

MSU will receive royalty income

The company will create a valuable product and generate profits
State of Montana will benefit with great jobs in Montana for MSU graduates

Scope of Project

Fall 2004 Project:

Project A: Market research, analysis, and competitive assessment:

Goal: Convince the supply chain that this is a worthwhile crop
Components:

o Market Size, Segments, and Dynamics

o Market/Industry Structure: relationships, supply chain, revenue chain

o Customer Base

o Customer Challenges and Issues (pain points)

o Competitive Assessment

Contacts

John O’Donnell, executive director of TechRanch and
[email protected]

Notes
Non-disclosure required.

***

Company
Elk River Systems

Elk River Systems, Inc., provides marketing, sales and management solutions for ticketed inventory. At their core they are a software development company—this is their (and your) priority.

Their solutions include:

Ticket design and printing software. 1998 http://www.ticketprinting.com

Perforated paper stock for tickets and forms. 1999 http://www.perforatedpaper.com

Full-range of online and point-of-sales ticketing solutions. 2002 http://www.evenuebench.com

Elk River Systems was founded in 1997.

Scope of Project
Fall 2004 Project:

Project A:
Define Market Space: Elk River Systems currently competes with 5 distinct product lines in 2 distinct product markets. The company needs:

Project B:

Market Analysis Project B:

Business Development and Opportunity Selection: Determine growth markets and recommend overall market strategy.

Prioritize markets by potential profitability, size, fit, and value proposition

Contacts
Gary Bloomer
Client Development Director, TechRanch
406.556.0272
[email protected]

Mike Yinger
CEO
22 Central Avenue
Harolwtown, MT 59036
406.632.4763
[email protected]

See http://www.ticketprinting.com
http://www.perforatedpaper.com
http://www.evenuebench.com

Notes
Non-disclosure required.

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Company
MicroLAB

MicroLAB develops and markets analytical instruments targeted at the college and university chemistry.

Their core market: There are over 500 universities and 315 technical colleges in the US offering chemistry laboratory instruction.

They are currently “angel” funded. Model 402, their first product, hit the market in 2002.

Scope of Project
Fall 2004 Projects:

Project A: Sales Prospecting:

Gather, quantify, and qualify customer segments: private and public (2 YR, public 4 YR, Parochial, military, tribal, etc…)

Break potential customer markets into geographic, demographic and program opportunities.

Project B: Develop a Trade Show Model: Develop a pre-, during-, and post-trade show process and calendar.

Contacts
Gary Bloomer
Client Development Director, TechRanch
406.556.0272
[email protected]

Donna Hendrickson
VP Marketing
406.586.3274
http://www.microlabinfo.com

Notes
Non-disclosure required.

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Company
Connexa—HIGH NEED

The Connexa Softtools Flexible Product Framework (FPF) is a software suite combining mass-customization and design automation for the creation of “Product Configurators.” The FPF is targeted primarily to the manufacturing sector.

The products are in the late concept/early beta stage of development. Big Sky Laser is a beta customer.

The primary goal of FPF is to be the enabling technology for “Spontaneous Build to Order” manufacturing and design/documentation automation.

Connexa’s current target market

Light Manufacturing

Semiconductor

Ready-to-assemble custom furniture

Start-up funding provided by Ough Investments, Ltd.. Equity financing is planned to raise initial $1M in capital.

Scope of Project
Fall 2004 Projects:

Project B: Competitive Analysis

Including: Defining value proposition and prioritize features and benefits of product.

Project C: Develop a Pricing Strategy

Contacts
Gary Bloomer
Client Development Director, TechRanch
406.556.0272
[email protected]

Bruce Pierson
Principal
406.570.2186

Notes
Non-disclosure required.

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Company
Fractor Technology

An initiative focused on providing “control system” solutions for both analog and digital requirements. Focus on delivering solutions to several potential industry segments including: Robotics, Signal Processing, Pulse Shaping, and Bio-Mimetics.

This initiatives goal is to create a Montana corporation that owns or licenses (from MSU) the added-value technology.

Scope of Project
Fall 2004 Project:

Project A: Market Feasibility Analysis:

Components:

Determine Market Size, Segments, and Dynamics

Market/Industry Structure: relationships, supply chain, revenue chain

Customer Challenges and Issues (pain points)

Competitive Assessment

Contacts
Lance Trebesh—CEO and Entrepreneur in Residence, TechRanch
[email protected]

Notes
Non-disclosure required.

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Company
ZDye:

An initiative: ZDye is a dye that aids in evaluating, isolating, and characterizing the presence of certain proteins. It borders on the “new frontier” of mapping proteins—this is a step beyond that of gene mapping.

This initiatives goal is to create a Montana corporation that owns or licenses (from MSU) the added-value technology.

ZDye is 10X more sensitive than its competitors are. This type of product is currently utilized in Proteomic Research Centers.

Scope of Project
Fall 2004 Project:

Project A: Market research, analysis, and competitive assessment:

Components:

Market Size, Segments, and Dynamics

Market/Industry Structure: relationships, supply chain, revenue chain

Customer Base

Customer Challenges and Issues (pain points)

Competitive Assessment

Contacts
Don Thorne, Principal
[email protected]

Nick Zelver—MSU
[email protected]

Ed Dratz—MSU
[email protected]

Paul Grieco—MSU
[email protected]

Notes
Non-disclosure required.

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Student-Entrepreneur Projects 2003:

* Product value analysis – Students worked with an entrepreneur to help him clearly communicate the key value-adds of his software application. After identifying the necessary information, the students began helping the entrepreneur effectively insert that information into his marketing material and investor presentations.

* Venture capital funding research – A student researched and compiled information about venture capital firms. His role was to identify VC firms that have investment criteria matching the characteristics and needs of his assigned company. To record his findings, the student developed a database that ranks the VC firms based on compatibility to his company. The student met on a bi-weekly basis with his entrepreneur to share his findings and to discuss why he perceives some firms to be a better match than other firms.

* Customer database – One student compiled contact information of potential clients and organizing that information in databases. His problem-solving skills repeatedly came into use in order to identify an effective way to narrow down the lists of customers appropriate for his assigned entrepreneurs.

* Cost benefit and market analysis – Students identified and validated the market for a new enzyme production company. The first student determined the cost benefit that the company’s new product offers based on the current products being used. The second student determined the size of the overall industrial enzyme market, as well as the individual segments within that market. The students’ findings were placed in a market verification document that will be presented to potential investors.

* Market research – For this market research project, a company asked a student to validate the size of the market into which it is trying to launch its product. The student was also been tasked with incorporating that information into a market commercialization plan.
In a separate market research project, a student developed a marketing plan for a new fishing lure that is being designed by students from the MSU College of Engineering. It has been the student’s responsibility to acquire the marketing information necessary for a business plan.

* Company research – Students identified different medical device companies that could potentially offer partnership opportunities for a company that produces anti-infection coatings for medical devices.

Center for Entrepreneurship for the New West
Montana State University
College of Business

Questions Being Addressed in Current Student-Entrepreneur Projects:

* LigoCyte: How are the company’s competitors structuring funding deals for the discovery and development stage of their pharmaceutical products? LigoCyte’s main question deals with the structure and stipulations included in these deals. This project will benefit LigoCyte by providing the company with a concise idea of what competitors are doing to get funding and financial support to further the research process.

* Western Plant Breeders: How should food companies address the issue of using biotech crops in their products? The scope of this project is to compile the views of companies, people and countries in regard to GMOs. It will include the benefits of GMOs, as well as the negative aspects of GMOs, in order to give the food companies some direction in planning a marketing strategy for releasing products that contain GMOs.

* InfoGears: InfoGears wants to know how to market InfoPix to small businesses and whether or not they should focus on specific industries. This project focuses on what competitors are doing, compiling their strengths, weaknesses, opportunities, and threats to create a SWOT analysis. This analysis will be used to help InfoPix create a marketing strategy that will effectively target small businesses.

* RightNow Technologies: What are RightNow Technologies’ competitors doing in terms of advertising in the call tracking and management market? RightNow would like the students to evaluate and monitor what the company’s key competitors are doing in terms of meta tags, advertising, newsletters, and white papers.

* Trout Headwaters, Inc.: Who are the potential customers for THI’s new software, and how much are they willing to pay for it? Students are creating and composing a market survey, conducting the survey, and analyzing the compiled data.

Participating Companies:

* MPA Technologies

* TEXbase, Inc.

* THI Riverworks

* Bacterin

* EnviroZyme

* PrintingForLess.com

* InfoGears

* Golden Helix, Inc.

* RightNow Technologies

* LigoCyte Pharmaceuticals, Inc.

* SensoPath Technologies

* Western Plant Breeders

* Amazing Grains