Venture Fellows Program

Value Proposition

Successful commercial product development requires multidisciplinary teams with the skillsets to identify opportunities with existing problems, develop technologies to solve those problems and facilitate connections to bring them to market. Researchers often create remarkable technologies that can be applied to multiple markets and products. However, they may lack the resources to identify the best customer/market prospects, fully assess the competitive environment, explore potential business models, project returns, or seek key business partners. Conversely, MBA students can analyze market opportunities, evaluate business models and help bring ideas to market, but may not have a specific technology to apply these skills to. Together, they can leverage their combined strengths to satisfy their entrepreneurial ambition.

How is the program structured?

The NYU Venture Fellows Program lasts approximately ten weeks and runs each academic semester (Fall and Spring). Over the course of the ten weeks, one to three Fellows collaborate with NYU faculty-led research teams (typically a faculty and a graduate student or postdoc) to discover and validate target customer segments and explore potential business models. During this time, the teams will collaborate to conduct primary market research and “get out of the building” to speak with real users, customers and business partners in an effort to validate or invalidate assumptions. Teams are expected to complete a proposal for commercializing the technology that includes customer validation, market analysis and actionable next steps. Products should be well positioned to begin market tests, prototyping and commercial product development.

Faculty: How do I apply?

All NYU faculty-led information technology and life science research projects will be considered. Interested teams must submit a project profile (download profile form), and submit it via email. All candidates will be contacted by the NYU Innovation Venture Fund staff.

Schedule Overview

• Week 1: Workshop: Introductions to business models and using the Business Model Canvas
• Week 2: Workshop: Introduction to Customer Development
• Week 3: Identify potential customers: key relationships, segments and channels
• Week 4: Identify key partners, activities, and resources critical to success
• Week 5: Team Presentations: Value proposition, potential customers and business models & Customer Development Best Practices Workshop
  
• Weeks 5-9:
  
  • Start hypotheses testing of value proposition, customers, segments and channels
    
  • Schedule feedback sessions with mentors
  • Continue hypotheses validation
• Week 10: Final presentation: Results and recommendations

Who is this for?

The NYU Venture Fellows Program is for NYU graduate students, researchers and faculty passionate about commercializing new technologies via a startup venture. Faculty with already-developed research, technology and inventions in the IT and life science sectors will be considered. All participants must be able to attend all events outlined above and dedicate one to two hours a week for team meetings and an additional two to four hours a week for project work and deliverables.

Students: How do I apply?

All NYU Stern graduate business students (full-time, part-time and executive MBA) will be considered. Interested students should submit their CV and a brief (<100 words) statement explaining their interest in the Program via email. Qualified candidates will be invited to attend the Program kickoff event.