contents divine principles executive director’s message summer launchpad accelerator hands-on learning be multidisciplinary connect to nyc mentors, partners and sponsors entrepreneurial institute team and advisory board how you can help 12461014182021
nyu entrepreneurial institute our divine principles champion hands-on learning our entrepreneurs learn by doing—interviewing, prototyping, testing, validating. our motto is: “success starts with understanding your customer.” be multidisciplinary good inventions can and do come from all parts of the university, interests and levels of study. successful startup teams draw on varied experiences, skills and perspectives. connect to nyc because we are integrally in and of the city, our students have unrivalled access to world-class entrepreneurs who speak, teach and mentor here; to investors who can guide and help scale businesses; to a vibrant startup ecosystem that incubates and supports; and to potential customers from all walks of life. 1
2017 annual report executive director’s message everyday i am inspired by how nyu entrepreneurs are creating startups that help alleviate social or environmental issues, enhance quality of life, and reimagine how ordinary problems can be solved in extraordinary ways. the nyu entrepreneurial institute was founded in 2010 with a challenge to embed creative prob- lem-solving and entrepreneurial capability across the largest, most diverse global university in the world. thanks to the hard work and collaboration of many, we have risen to the challenge. this fall semester alone, 4,000 members of the nyu community visited our home at the leslie elab. our staff and partners offered 1,172 one-on- one coaching sessions in the last year, a nearly 20% jump over the previous year. with a growing number of nyu students and faculty seeking to start new startups and commer- cialize their ideas and inventions, we have been refining our offer- ings to ensure that we support more teams at all stages of the entrepreneurial pipeline. to bring the benefits of experiential learning to nyu en- trepreneurs earlier in their development, we are reaching out to faculty members, expanding our startup school offerings, and engaging with teams earlier. our goal is that 100% of the teams applying to our flagship summer launchpad accelerator will be bet- ter prepared for the rigor of this program before applying. and we are well on our way. startups benefit from diversi- ty of input. we are proud of our ongoing work with female entre- preneurs and across nyu’s diverse schools and colleges that help us foster greater inclusion, and encourage varied perspectives for every project and team. we’re proud that 49% of institute visitors are women. we continue to expand and deepen our relationship with the new york city startup ecosystem and with the innovators and inves- tors who come to speak, mentor and coach nyu entrepreneurs. at the same time, across industries, sectors and boroughs, the city is mutually benefitting from the infu- sion of entrepreneurial talent and the newly (and some not-so-newly) launched startups built by nyu students, alumni and faculty. 138 teams in pipeline 81 teams currently at nyu 20 teams with cross-nyu school affiliations 17 nyu schools represented we have been fortunate to play such an important role at nyu as entrepreneurship takes hold on college campuses and in the global marketplace. thanks to the institute’s staff, students at all levels of study, our committed faculty, extraordinary coaches, mentors, supporters and partners, and nyu leadership, we cull insight, experience and talent from the entrepreneurial world and make it a cornerstone of teaching and learn- ing at nyu. frank rimalovski executive director 22
nyu entrepreneurial institute our principles in action what does it take to turn ideas and inventions into viable ventures? through immersive and project- based learning, our entrepreneurs build and pressure-test their solutions in the real world, with real-world customers. leveraging diverse insights and inputs, our multidisciplinary teams create truly ingenious solutions and bring varied skill sets to bear on growing their businesses. and, in the heart of the new york city entrepreneurial world, nyu founders connect to startup visionaries—our partners, neighbors and members of the nyu family, who teach, speak, coach and mentor here. 3
2017 annual report thanks to summer launchpad teams, new york city hospitals can protect elderly patients from falls, fashion designers from coast to coast have a better avenue to reach customers, and psychotherapists connect with the right clients at the right time. summer launchpad provides these and other highly promising early-stage startups the support and resources they need to succeed and grow. selected teams receive one-on-one coaching, customer development training, collaborative workspace and $10,000 in non-dilutive funding, all in an immersive hothouse atmosphere. the accelerator thoroughly expresses our divine principles—fostering hands-on learning across disciplines while connecting to the city. teams pound the pavement (literally and virtually), conducting ten to twenty interviews per week with target customers, payers and partners, to test and validate the commercial viability of their ideas. team applications represented 13 nyu schools and colleges, and selected teams spanned tandon, tisch, college of arts & science, stern, steinhardt, the graduate school for arts & science, and the silver school of social work. the program is deeply connected to new york city’s entrepreneurial ecosystem, tapping over 30 mentors, coaches and potential investors who help teams accelerate from vision to scale. summer launchpad accelerator highlights summer launchpad 2017 summer launchpad 2013–2016* 88 applications 10 accepted teams 80% of accepted teams participated in other entrepreneur- ship programs at nyu 80% teams have female founders 2/3 teams still working on original or new startup 61% raised non- dilutive funding 34% raised dilutive funding 24% currently generating revenue *as of may 2017
nyu entrepreneurial institute winning teams levitas shopdrop my wellbeing falls are the leading cause of injury-related death among hospitalized elderly patients and cost the healthcare industry billions of dollars a year. amar seoparson (tandon ’17) and anthony oganov (cas ’17) created wearable activity monitors that alert nurses when their patients are at risk of falling —a solution that reduces in- jury, saves lives and saves hospitals money. levitas, which was con- ceived during the 2016 healthcare makerthon, now has three active pilots across new york city health facilities. the startup also won the nyu-yale summer accelerator pitchoff and was a finalist in the nyu innovention competition. more winning teams every day, somewhere in new york city, there is a gold mine of opportunity for brands seeking to clear inventory and discerning shoppers looking for a deal: the sample sale. estee goldschmidt (stern ’17) co-founded shopdrop to con- nect brand to shopper through a comprehensive interactive guide to urban sample sales. summer launchpad helped the team stra- tegically take to the streets of new york city where the customers are, and learn what they needed most. an online platform that values human relationships, my wellbeing matches patients with therapists who uniquely meet the patient’s individual needs and even takes the next step to schedule initial consultations. my wellbeing reduces stigma around therapy with curated con- tent, and connects therapy-seekers with compatible and accessible psy- chotherapists in nyc. “i encourage people with heart-on-fire ideas to pursue them full speed,” says alyssa petersel (silver ‘17) 5
champion hands-on learning engage experience amplify 2017 annual report the most powerful way to learn to build a startup is to build a startup, with the daily trials of innovation, collaboration and investigative problem-solving at the core. across the university, we work with teams, classes and faculty, offering essential hands- on startup skill development. these are skills that serve students in any career path they pursue. to build a robust pipeline of promising teams, we have been amplifying our outreach to the “entrepreneur- curious.”
nyu entrepreneurial institute prototyping fund building solutions experiential by design, the prototyping fund helps launch multidisciplinary startup teams who are inventing products to solve a problem. among this year’s fund recipients, a diverse mix of tandon undergraduates and graduate students seeking solutions to the challenges of food production created an innovative food computer, a specialized climate-controlled chamber that is trying to revolutionize urban farming. a team of students from tandon, cas and gallatin created solar-charged power banks to help “this is what the innovation ecosystem at nyu is all about—encouraging collaborations across schools and disciplines, helping those with ideas play with them and make them real, and inspiring all our participants to use their know-how to create products and services that might create a positive impact in society.” anne-laure fayard associate professor of technology management and innovation syrian refugees power essential devices. and students from new york and shanghai created a dos- age-regulating pill bottle to help combat the opioid epidemic. the fund, offered in partnership with the tandon greenhouse, awards teams of undergraduate and graduate students grants of up to $2,500 to build hardware or software prototypes, and connects them with the resources, tools and mentors to bring their ideas to life. awarded projects represented mindfulness and safe- driving apps smart recycling technology wearable technology ar applications 7
“ i have led numerous workshops at the startup school and i see the value in the huge diversity of workshops that it offers. this is an incredible starting point for those interested in entrepreneurship to begin their journey with all of the institute’s offerings.” kristine di bacco fenwick & west 2017 annual report ignite fellowships startup sprints peer power idea to startup in 2 weeks teams selected for ignite fellowships accelerate the for- mation of their venture through extensive dialogue and targeted skills workshops with experienced entrepreneurs, investors and each other. peer-level support in the startup trenches can be invaluable, as student and faculty partici- pants share experiences, solutions, lessons learned, and contacts. our fellows are grouped into three cohorts: early-stage ventures, pre-seed mid-stage ventures, and healthcare-specific ventures. to meet growing demand for startup support, we will increase the num- ber of ignite fellowships in 2018. our new startup sprints offer students the chance to go from idea to viable startup in only two weeks. teams accepted into startup sprints learn the tenets of startups—interviewing customers, articulating a value proposition, building a prototype, and more. then they put their training to work immediately, testing their business model and product hypotheses with customers. each team receives a $350 grant to help build their product or service and $5,000 in credits for amazon web services. the most promising teams are eligible for additional grants and opportunities. the january 2018 cohort represents the diversity of nyu with 31 participants across 12 schools, 61% of whom are female founders. 61% of january 2018 start- up sprint participants were female founders 20 teams selected to participate in the fall 2017 ignite fellowship 8
nyu entrepreneurial institute the leslie elab continues to be the hub for nyu entrepreneurs to build their ventures. since opening in 2014, there have been over 96,000 visits to the leslie elab, representing 22 separate schools across nyu. the fall 2017 semester alone saw 4,000 unique visitors, the highest amount per semester since opening. over 96,000 visits to leslie elab faculty outreach we have stepped up our outreach to faculty members who teach experiential, project-based classes, enlisting them in helping us identify high-potential teams—stu- dents with good ideas and the right mix of skills, who work hard and partner well, and are passionate about their idea. scott taitel wagner graduate school of public service “ the institute has been instrumental in supporting social entrepreneurship across nyu and beyond. successful teams usually boast diverse backgrounds, experiences, and skills. the institute offers exactly this, where students, faculty, and researchers meet to build great things and drive innovation to achieve social impact.” beth noveck director of the govlab, tandon school of engineering “ at the governance lab we value being part of a broader entrepreneurial community at nyu. our undergraduate, graduate and adult learners take advantage of the offerings at the leslie elab and use its materials to help advance their work, which in turn benefits the communities where they have impact.” 9
be multidisciplinary support diversity 2017 annual report creating a successful startup calls for varied perspectives, talents, insights and support—a true cross-pollination. guided by our principles and informed by our metrics, we strategically attracted and supported even more multi-school and highly diverse teams in 2017, boosted participation of communities traditionally underrepresented in startups, and fostered conversations among entrepreneurs meeting similar challenges while coming from different places.
nyu entrepreneurial institute 50% nyu innovation venture fund companies with women founders or co- founders championing women convening for change women are typically underrepre- sented in the startup world—but not at nyu. our metrics consistent- ly show that women come through the doors of the leslie elab, attend events, join winning teams and secure funding in numbers equal to men. to ensure that female entre- preneurs continue to thrive, we have launched several initiatives connecting them to resources, op- portunities and one another. #nyufemalefounders brings women together for panels, net- working events and coaching to help them find partners, mentors, potential investors and other vital resources for scaling a startup. our startup sprints have a special focus on amplifying women’s par- ticipation in stem-related fields. over the past year, we have seen a rise in the number of nyu entrepreneurs addressing socio-en- vironmental challenges through their ventures. to support them, we are convening roundtable discus- sions for faculty and staff whose research, courses and programs support mission-driven ventures. more than 25 faculty and staff across nine nyu schools have participated in collaborative dis- cussions on topics such as ethical entrepreneurship and supporting the un’s sustainable development goals through entrepreneurship. roundtable faculty have invited institute staff into their classrooms and research labs to offer teaching content, mentoring sessions, start- up bootcamps and other support to students and researchers. a new blog series, bettering the world through entrepreneurship, contin- ues the conversation on topics such as human rights, climate change and media ethics. 22 nyu schools/colleges represented by leslie elab visitors 11
“ “ nyu and the medical community benefit from the ideas and experiences gained over the course of the healthcare makerthon.” andrew hamilton nyu president 2017 annual report healthcare makerthon 2017 winners collaborate to innovate with insights from nyu schools of business, mathematical science, medicine, nursing, public service, engineering and public health, nyu entrepreneurs brought disruptive innovation and high-tech solutions to some of the most pressing prob- lems in healthcare today. the 2017 challenges, crowdsourced from nyu langone health practitioners, included creating wearables for geriatric patients and applying next-gen technology to improve the antiquated ekg diagnostic. in 48 hours of intensive customer discovery and mentorship, teams prototyped viable solutions with the potential to make people safer and healthier. a collaboration with nyu langone health, the healthcare makerthon is one of the institute’s many initiatives to foster innovation across specific industry verticals. 12 nyu schools/ colleges represented 50% of partici- pants were women participants 43% graduate students cardiacare monitors heart health issues in geriatric patients and notifies doctors of risks cas, school of medicine, tandon gware wearable device for geriatric patients that alerts ems in an emergency cas, langone health, tandon, courant healthhuddle digital dashboard for coordinating nursing care to prevent complications during hospital stays tandon, wagner, langone health, cas heart2heart updates ekg interpretation through machine-learning and 3d visualization cas, tandon, school of medicine, langone health, stern 100% of all teams represented 3+ schools 30% undergraduates 27% faculty 12
nyu entrepreneurial institute creative thinking across the curriculum the institute staff joins a robust group of nyu faculty whose classes center on creative problem-solv- ing across diverse disciplines and fields. institute executive director frank rimalovski teaches venture creation in the biomedical industry, an experiential, project-based course in which phd students and postdocs work on commercializing their own or another’s nyu tech- nology. assistant director rebecca silver teaches hacking for energy, a multidisciplinary class between nyu and columbia university for graduate students to develop and test solutions to pressing problems in energy and sustainability sec- tors. the class uses lean startup methods and addresses urgent energy issues advised by industry hosts, who also serve as mentors. additionally, two new master’s programs demonstrate nyu’s commitment to solving societal problems with cross-disciplinary thinking. the new master’s degree in computing, entrepreneurship and innovation combines courses at the courant institute and stern school of business. at the intersec- tion of business and technology, stern’s tech mba immerses stu- dents in experiential, project-based coursework in new york city and silicon valley. 100+ entrepreneurship & innovation classes at nyu 16 nyu professors trained as lean launchpad educators 13
connect to nyc in and of the city 2017 annual report nyu in general, and the entrepreneurial institute in particular, are thoroughly in and of new york city—deeply enmeshed in its wellsprings of creativity, business, culture, thought and action. with our location and our connections, inspiring entrepreneurs—from rising stars to superstars— frequently visit the campus to teach, speak, coach and mentor. and our students and faculty have the distinct advantage of pressure-testing their startups in one of the world’s most commercially vibrant and and diverse cities.
nyu entrepreneurial institute startup school insights from startup school everything you always wanted to know about startups should i raise capital or join an accelerator? what’s the secret to customer acquisition? how do i build a social venture at scale? we invite experts from across the nyc entrepreneurial ecosystem to visit the leslie elab, share their in- sights and answer questions about getting a startup off the ground. students and faculty at all stages of entrepreneurial development are welcome to attend. startup school topics include: how to build products users love; immigration law for entrepreneurs; and crowdfunding your business. on building a team “ your team will be a reflection of you and your values.” nihal parthasarathi (stern ‘08) founder, coursehorse on crowdfunding “ our community is drawn to people and passion. it’s okay to be yourself.” julio terra (tisch itp ’11) director of technology and design, kickstarter startup school 2017 on pitching 522 attendees 83% increase in attendance between spring and fall ’17 91% instructor effectiveness rating 16 schools represented “ if you’re the founder of a startup, there aren’t many people to be brand advocates. you are it.” allison mcguire founder & ceo, walc 15
2017 annual report blackstone launchpad the value of experience when veteran entrepreneurs look back on their start, they often cite someone who believed in them, gave them lasting advice, and made a profound differ- ence. a coach. a mentor. nyu entrepreneurs are extremely fortunate to have access to some of today’s smartest, boldest and most successful entrepreneurs as blackstone launchpad coaches. experienced venture coaches across a wide range of fields come to campus regularly to supplement coaching from the entrepreneurial institute staff. together, we provide nyu founders with support, practi- cal knowledge and tactical advice, from customer discovery and value propositions to the financial skills necessary to take a business to the next level. we tap new york’s abundant sector expertise in finance, healthcare and biotech, social enterprise, real estate, media and entertainment, fashion and advertising, among many others. a generous gift from the blackstone charitable foundation makes this program possible. 2017 entrepreneurs festival 40 nyu entrepreneur speakers 20 46 nyu schools represented nyu startups present 900 attendees 24 student organizers 14 sponsors 16
nyu entrepreneurial institute office hours 370 jay street priceless investment: time in a city where great entrepreneur- ial advice is only a subway ride or uber trip away, nyc startup experts from accelerators, venture capital funds, law and accounting firms hold office hours at the leslie elab to offer personalized time to nyu student and faculty entre- preneurs. in a recent office hours session, adrian grant (stern ’05), of the comcast ventures catalyst fund, encouraged founders to focus on validating their business ideas early. “traction matters more than how beautiful the product is,” he says. “the best [way] to optimize for investment is to have customers.” an innovation hub grows in brooklyn nyu is forging the future of tech- nology innovation and creative engineering with an extensive $500 million high-tech renovation of the former mta headquarters in downtown brooklyn. the first occu- pant to move in was nyu’s center for urban science and progress (cusp), a leader in urban informat- ics. the entrepreneurial institute is also planning a presence in the building. “it is our vision that 370 jay street will house engineers, re- search scientists, game designers, media artists, and musicians—all interacting and collaborating under one roof,” says nyu president andrew hamilton. 2017 entrepreneurs festival keynotes “ even if you don’t necessarily have the ‘credentials’ for the thing you want to do, if you have enough passion and if you’re willing to work hard enough, it’s possible.” scott harrison (cas ’98), founder of charity: water “ trends go back and forth. ‘i want the fastest, cheapest way to get something.’ then, ‘i want the most personalized, hand-crafted version.’ know where you sit in that spectrum, and listen to your customer base.” carley roney (tisch ’90, ’94), co-founder of the knot at xo group “ if you’re really thinking different, a lot of people won’t get it until you’ve actually proven it.” jonathan teller (cas ’91), founder of eos the big ticket: our annual entrepreneurs festival is a must- attend event for nyu-born ventures and entrepreneurs throughout the city and beyond. superstars and rising stars stop by to give and seek advice, support and potential investment. 17
2017 annual report blackstone launchpad mentors adam goulburn lux capital brittany laughlin lattice ventures jim kelliher drift alanna gregory vive lifestyle cynthia koenig wello water jo schneier cognotion raj patel techstars rob fassino joor alex iskold techstars ali heron two sigma dan kantor pilotship dan melinger fanduel john elton greycroft partners rob rosenberg prolog ventures jonathan cherins yext ryan jacoby machine.io allison mcguire walc eric kroll venture catalyst josh nussbaum compound alon bonder venrock eric martinez vsa partners katie shea kairos amit bansal digitalis ventures andrew kangpan two sigma ventures andy breen argo group blake stevens alexandria launch- labs brendan dickinson canaan partners brian cohen new york angels brian laung aoaeh kec ventures brian shimmerlik vengo labs erica gruen oaklins desiva+ phillips geri kirilova laconia capital group giff constable axial gopal chopra pingmd greg slamowitz ambrose jen van der meer reason street jennifer byrne quesnay steven kane entrepreneur suraj kapoor wayup sutian dong female founders fund vince passione lendkey vlad vukicevic meural kim armor comcast ventures lindsey gray two sigma ventures liz crawford birchbox, genacast ventures lucas nelson lytical ventures yasser ansari willow mark pinney magnetic zack schildhorn lux capital nayeem hussain keen home owen davis contour ventures 18
nyu entrepreneurial institute partners and sponsors 19
staﬀ frank rimalovski executive director, managing director of the nyu innovation venture fund jen curtis operations manager dee dao venture associate desiree frieson program manager alison hoffer devealopment & alumni relations sarah maibach program manager kunal mehta (stern ‘11) venture associate andy moss director of the blackstone launchpad at nyu carol ourivio (steinhardt ‘16) communications coordinator rebecca silver assistant director fiona teng marketing & communications manager advisory board ash ashutosh founder and ceo of actifio carlos bhola co-founder and managing director of celsius capital jeffrey bogatin ceo at liquidity works di-ann eisner (steinhardt ‘94) director of growth at waze william grabe (eng ‘58) advisory director at general atlantic llc dr. paul m. horn senior vice provost for research at nyu steve kane (tisch ‘84) entrepreneur dr. jay kranzler ceo of regenovation mark leslie (wsc ‘66) nyu trustee and managing general partner at leslie ventures ken miller president & ceo of ken miller capital dr. nedal shami (cas ‘00) co-founder and chief strategy officer at citymd urgent care dr. jessica swartz (cas ‘00) nyu trustee and sr. director of strategy planning at pfizer essential health david tisch (law ‘06) managing partner at boxgroup fred wilson co-founder and managing partner at union square ventures 20
the impact of your gift nyu entrepreneurs have accomplished great things over the past year. as all of us in the startup world know, it would not have been possible without all hands on deck. the nyu entrepreneurial institute is, in promise and in practice, fueled by supporters like you. we are extremely grateful to our corporate and individual sponsors for their generous contributions that ensure the future of the institute. your philanthropic support is truly a force multiplier. when you donate to the entrepreneurial institute, you not only help teams launch startups that make a difference in the world today. you help entrepreneurs invent a rewarding future for themselves and for others in a connected and global world. please contact alison hoffer, at firstname.lastname@example.org or 212-998-0425, to contribute to, partner with or learn more about the nyu entrepreneurial institute.
visit us at the leslie elab address: 16 washington place (at greene st.) new york, ny 10003 phone: 212-992-6070 email: email@example.com website: entrepreneur.nyu.edu unless otherwise noted, all content copyright new york university. all rights reserved.