Lab2Launch

Overview of the Lab2Launch program:

In Venture Founder: Lab2Launch, we provide researcher-based, venture teams with industry expertise, practical business training and deep mentorship to develop research discoveries into transformational venture opportunities. The Lab2Launch series of mentor-enabled workshops helps teams identify a viable and valuable start-up opportunity, guiding the Venture Founder team through venture creation with a focus on team building, technology development, market traction, and financing through the 4T’s Venture Playbook.

Benefits of the Lab2Launch program:

• In a cohort structure, you and your team will undertake a stage-gated program that will help identify if a viable and valuable start-up opportunity exists. With the support of Entrepreneurs in Residence and mentors, you will be guided through venture creation by putting the right team and plan in place to gain traction and attract investment for launch and growth

Eligibility criteria of the Lab2Launch program:

• Team
• The application comprises of at least two foundational team members who are receptive and welcoming of coaching and advice that may be contrary to the teams thinking or opinions. A foundational team member is an individual who:
• Is listed as a team member on the Venture Founder application, and
• Is committed to investing significant personal time pursuing the venture opportunity that is the subject of the Venture Founder application, and
• Is committed to attending all weekly Venture Founder workshops, and
• Is a shareholder of the venture if the venture is incorporated, or contemplates that they will be a future shareholder if or when the venture is incorporated.
• At least one foundational team member must be a UBC student, faculty member, or staff member, or a recent UBC alumni (graduated within the last 5 years). Ideally, student foundational team members are within 12-18 months of completion of their degree (so they can commit to building the venture after completion of their studies).
• Applicants must be driven, motivated, and have the bandwidth to pursue a startup venture with entrepreneurship@UBC.
• Applicants can articulate a vision for the venture whereby the venture success includes scalable growth (vs a lifestyle business).
• Tech
• A Proof-of-concept demonstrated in a model or setting accepted by peers, partners, or potential customers. Teams that have not progressed beyond the raw idea stage may apply and will be considered on a case-by-case basis.
• See TRL definitions here to estimate the level of development of your innovation. A TRL of at least Level 3 is recommended, but TRLs of less than 3 will be considered on a case-by-case basis.
• Ability to clearly articulate a unique and proprietary solution, and identify IP that protects your venture opportunity.
• Traction
• Applicant has an understanding of their competitive landscape; If the venture opportunity that is the subject of your Venture Founder application replicates or is similar to a business model or a product that already exists, then you must explain in your application how your venture idea is competitive (i.e. better) or different, and how your venture is going to successfully compete with the companies and/or products already in development or in the market.
• Applicant has an understanding of the elements of their business model based on comparable and some market sizing.
• If your venture is solving a student problem meaning your customer and/or user is initially university students, you must explain how your vision for the solution can eventually scale to include customers beyond the student segment.
• Treasury
• Applicants should be able to describe in basic terms how the venture will generate revenue. There is no expectation of revenue generation in the Venture Founder stage.