Start-up Resources

How does the Office of Venture Development help you transform your technology ideas into reality? The process begins with a meeting to discuss your ideas and learn about your needs. We get to know you and ask various questions in order to determine the potential of your ideas; what work has already been completed and what goals need to be achieved next to assure your success. Topics reviewed include:

Compelling Business Concepts - Is your technology a compelling solution that meets unmet needs in the market?

• Starting a business can be an exciting venture offering many rewards. However, you must be prepared and you must understand the basics - http://www.sba.gov/starting_business/index.html
• Free Business Plan samples - http://www.bplans.com/contentkit/?affiliate=wsj
• Michigan Economic Development corporation has a free guide - http://www.cis.state.mi.us/bcsc/forms/corp/pub/8011.pdf

Market Potential - What is its revenue potential? how much market share is possible?

• To conduct marketing research you must gather facts and opinions in an orderly, objective way to find out what people want to buy -http://www.sba.gov/starting_business/marketing/research.html
• Marketing is what makes your business grow - http://www.businessownersideacafe.com/business/marketing.php

Competition - do you have any competition in the marketplace? Do you stand to take a leadership position once your technology is brought to market?

• Business takes place in a highly competitive, volatile environment, so it is important to understand the competition - http://www.sba.gov/starting_business/marketing/analysis.html

Technology Advantage - does your technology present a formidable advantage for your potential customers? What are the barriers for future competitors to enter the same market space as your technology?

• Test your assumptions – http://www.miniplan.com/wsjminiplan/index.cfm?affiliate=wsj

Capable Management Team - Do you or your team possess the management and technical skills to bring the technology to market successfully and sustain growth into the future?

• Assess your skills at -http://startup.wsj.com/howto/soundadvice/20030317-mancuso.html
• The scientific business unit of Kelly Services, provides scientific staffing services on a temporary, project and full-time basis to a broad spectrum of industries –
• http://www.kellyscientific.com/ Kelly Staff Leasing can provide services to you in both an on and off-site setting - http://kellystaffleasing.com/
• KellyFirst provides flexible direct hire recruitment and staffing technologies designed to decrease costs, reduce cycle times and leverage best practices throughout the recruitment process - http://www.kellyhrfirst.com/

Maturity of the Technology - Is your technology in the early or late stages of development?

High Growth Potential - Does your technology concept have the potential of an Initial Public Offering (IPO) within three to five years?  What are other viable exit strategies for your company?

Business Plan Competition Resources