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    15.366 Energy Ventures - Fall 2013 Syllabus

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    Tompson Steven
    This document provides information about the 15.366: Energy Ventures class at MIT for the Fall semester. It includes details about class times and locations, instructors, TAs, grading criteria, assignments, and an overview of the class description and goals. The class is focused on building skills for students to create new clean energy ventures. It involves lectures, guest speakers, exercises, and team projects where students develop a new business plan for an energy startup over the course of the semester. Past student teams from this class have been successful in various business plan competitions.

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    15.366 Energy Ventures - Fall 2013 Syllabus

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    Tompson Steven
    113 views9 pages
    This document provides information about the 15.366: Energy Ventures class at MIT for the Fall semester. It includes details about class times and locations, instructors, TAs, grading criteria, assignments, and an overview of the class description and goals. The class is focused on building skills for students to create new clean energy ventures. It involves lectures, guest speakers, exercises, and team projects where students develop a new business plan for an energy startup over the course of the semester. Past student teams from this class have been successful in various business plan competitions.

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    This document provides information about the 15.366: Energy Ventures class at MIT for the Fall semester. It includes details about class times and locations, instructors, TAs, grading criteria, assignments, and an overview of the class description and goals. The class is focused on building skills for students to create new clean energy ventures. It involves lectures, guest speakers, exercises, and team projects where students develop a new business plan for an energy startup over the course of the semester. Past student teams from this class have been successful in various business plan competitions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    113 views9 pages

    15.366 Energy Ventures - Fall 2013 Syllabus

    Uploaded by

    Tompson Steven
    This document provides information about the 15.366: Energy Ventures class at MIT for the Fall semester. It includes details about class times and locations, instructors, TAs, grading criteria, assignments, and an overview of the class description and goals. The class is focused on building skills for students to create new clean energy ventures. It involves lectures, guest speakers, exercises, and team projects where students develop a new business plan for an energy startup over the course of the semester. Past student teams from this class have been successful in various business plan competitions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 9

    15.

    366: Energy Ventures


    Fall, Thursdays: 5:00-8:00pm, Room 32-124
    Recitation: 10:30am-12:00pm, Room E40-160

    Instructors: Bill Aulet, Tod Hynes, Francis OSullivan


    Office:
    Martin Trust Center for MIT Entrepreneurship (E40-160)
    Office Hours: Email Ana Cuellar ([email protected]) to make an appointment but generally
    Friday mornings
    TA:
    Kevin Berkemeyer ([email protected])
    For administrative issues, please email [email protected]
    Class Description
    Energy Ventures is an opportunity for teams of business students, policy students, and
    technologists to build up skills, capabilities and contacts to create a new venture in the clean
    energy sector. This is an advanced entrepreneurship class that is sector focused to go beyond
    general entrepreneurship concepts and do a deeper dive on the special challenges in the clean
    energy industry and how to best address them. Student will learn through a mix of lectures,
    cases, guest speakers and exercises but primarily through their team project. Teams will form
    during the first three weeks of the class. Throughout the remainder of the semester, each team
    will work together to create a new business plan for a new venture. Lectures will focus both on
    the how-tos of starting a new venture and the unique challenges faced by energy startups.
    Dozens of highly successful entrepreneurs have learned their foundational skills in this course
    and secondarily many successful companies out of the class include SolidEnergy, FastCAP
    Systems, Altaeros Energies, KWhOURS, Covalent Solar, and Oscomp Systems. Energy
    Ventures teams have performed exceptionally well in business plan competitions after the class
    has been completed. In the last couple of years multiple teams were category winners and
    made the finals of the MIT Clean Energy Prize, the DOE National Energy Prize, won the
    Berkeley-Stanford Cleantech Launchpad, and were selected Best Energy Team at the Rice
    Business Plan Competition.
    The class is application-only, and all students should come ready to actively engage.
    Entrepreneurship is not a spectator sport.
    Grading
    Grades will be based on three elements: class participation, homework assignments and the
    final presentation. The final presentation is the most important and weighted the most heavily
    in calculating a final grade. You will be evaluated on your contribution to the final project as
    well based on input from your teammates.

    Attendance
    With the exception of Sloan students during SIP week, please contact the TAs if you need to
    miss class. Missing classes, especially with avoidable excuses, will adversely affect your grade
    but even more so the value you and your teammates get out of the class. This is a serious class
    for people who are very serious about energy innovation and we require high levels of
    commitment.
    Assignments
    Assignments should be submitted both in hard copy during class and electronically by one
    team member on Stellar. All of the interim deliverables should be submitted as if they were
    final versions given the work to date, but teams should flag gaps in their current understanding
    and include action plans to address them. Sections will be graded on a check, check-plus,
    check-minus basis based on the teams progress, current content, and action plan.
    Class 1: Introduction & Project Pitches
    Assignment:

    September 5

    Read Xconomy articles by Bill Aulet


    1. http://www.xconomy.com/boston/2007/08/06/whats-wrong-with-energy-investing-part-i/
    2. http://www.xconomy.com/boston/2007/10/15/whats-wrong-with-energy-investing-part-ii/
    3. http://www.xconomy.com/boston/2008/05/20/the-next-big-thing-in-energy-innovation-
    and-investing-lets-talk-water/
    Read the articles from Boston Globe and NY Times as well as the follow up comments
    on Switchboard
    o Boston Globe article: http://www.bostonglobe.com/business/2013/08/31/shrinking-
    role-for-nuclear-power-energy-
    mix/RpufXMrj4f5T9vUqvSisBJ/story.html?s_campaign=email_BG_TodaysHeadline
    o New York Times article:
    http://www.nytimes.com/2013/08/21/business/economy/coming-full-circle-in-
    energy.html?pagewanted=all&_r=1&
    o Response to the NY Times article on
    Swithboard: http://switchboard.nrdc.org/blogs/cpaine/nrdc_response_to_coming_full_
    c.html
    Read Introduction, Six Themes of the 24 Steps, and Step 0: Getting Started from
    Disciplined Entrepreneurship book
    Upload resume to Stellar by 11:59pm on Friday, September 6

    Agenda:
    Welcome, Course Overview and Getting Started (Bill Aulet)

    5:05 5:40 pm
    Course logistics
    Purpose of course & what makes it unique

    Role of business planning


    Importance & Interrelationship of Team, Vision & Idea

    What makes the energy sector unique & framework for success
    Break
    5:45-6:00
    State of Energy (Tod Hynes)
    6:00-6:40
    Introduction to classmates (Bill Aulet)
    6:40-7:10
    Presentation of Ideas
    7:10-7:45
    Q&A
    7:45-7:55

    Class 2: Prioritizing and Brainstorming Ideas; Project Pitches


    Assignment:

    September 12

    Comment on the class idea forum on Stellar, either by (quality of comments will impact
    your grade)
    1. Inputting at least one idea and commenting on at least two other, or
    2. Commenting on at least four ideas.
    Register for class LinkedIn group

    Agenda (Subject to Change):

    Filtering & Prioritizing Ideas (Bill Aulet)


    5:05-5:15

    Brainstorming Techniques for Teams


    5:15-5:45

    Presentation of Ideas I (with some brainstorming)


    5:45-6:15
    Break
    6:15-6:30
    Presentation of Ideas II (without brainstorming)
    6:30-7:30
    Idea Fair in class to discuss ideas in fluid fashion
    7:30-7:55

    Class 3: Understanding Your Customer; Starting Energy Company Realities


    Readings:

    Steps 1-7 in Disciplined Entrepreneurship book

    Assignments:

    Comment on the class idea forum, either by:

    September 19

    updating your idea and commenting on at least three others (quality of


    comments matters!), or

    commenting on at least five ideas (again, quality matters).


    Submit idea preferences (top 3) by 11:59pm on Sept. 15
    Submit final team selection, due by 12:00pm (noon) on Sept. 17.

    Meet with your team at least once before Sept. 19.

    Agenda:
    Energy System: Energy Arithmetic
    5:05-5:40

    Energy Entrepreneurial Process: Orienting Your New Venture: Understanding Your


    Customer (Bill Aulet)
    5:40-6:10
    Break
    6:10-6:20
    Teamwork
    6:20-7:10
    Class Synthesis: Unfiltered View of Starting an Energy Company (Guest Speakers need
    to be invited: Vanessa Green & Tony Sagneri, Pedro Santos, Shobin Uralil)

    7:10-7:55

    Class 4: Value Proposition; Market Segmentation & Research


    Reading:

    September 26

    Step 8: Quantifying the Value Proposition from Disciplined Entrepreneurship book.


    EnerNOC case (posted on Stellar)

    Assignment:

    Write up a 60 second elevator pitch about your current project idea

    Agenda:

    Energy System: Electricity Value Chain (Francis OSullivan)


    5:05 5:45

    Energy Entrepreneurial Process: Market Segmentation, Market Research & Determining


    and Communicating Your Value Proposition (Bill Aulet)
    5:45-6:15

    How to Give an Elevator Pitch


    6:15-6:35
    Start EnerNoc Case Study

    6:35-6:40
    Break

    6:40-6:45
    Team Work on EnerNOC Case Study
    6:45-7:05
    Class Comes Back Together & Discusses EnerNOC Case Study
    7:05-7:55

    Class 5: Competitive Advantage and Innovation


    Readings:
    Steps 9-11 from Disciplined Entrepreneurship book

    October 3

    Assignments:

    Transcripts from at least four customer interviews due


    Executive summary due

    Agenda:
    Energy System: Hydrocarbon Value Chain (Francis OSullivan)

    5:05-6:00
    Entrepreneurial Process: New Venture Strategy: Primary Market Research, Types of
    Innovation, Identifying & Gaining Competitive Advantage (Bill Aulet)

    6:00-6:30
    Break
    6:30-6:40

    Teamwork Working on Projects


    6:40-7:30
    Class Synthesis: Guest Speaker on Competitive Advantage in the Energy Industry (or
    have Tod Hynes how he wrestles with competitive advantage at XLHybrids)
    7:15-7:55

    Class 6: COCA/LTV; Policy & Pitch Practice*


    Readings:

    October 10

    Read steps 12-19 of Disciplined Entrepreneurship book.

    Assignment:
    Turn in a 60 second video elevator pitch (note: first round of Pitch Contest is October
    15th-16th)
    Agenda:
    Energy Systems I: The Transportation Value Chain (Tod Hynes)

    5:05-5:45
    Entrepreneurial Process: The Economic Equation of Startups (COCA/LTV) (Bill Aulet)
    5:45-6:30

    Break
    5:55-6:10

    Energy System II: Energy Policy Past, Present and Future And the Relevance to
    Startups (Tod Hynes will be the point person but is he doing this too or who is doing
    this?)

    6:10-7:10
    Teamwork: What Role Will Policy Play in your Startup?
    7:10-7:45
    Teamwork: Practice Elevator pitches on each other
    7:45-7:55

    *PLEASE NOTE: Recitation will not be held on Friday, October 11.


    Class 7: Round Robin Presentations, Part I
    Logistics:
    Need one energy room for the entire class

    October 17

    Assignments:

    Product and Competition Sections Due


    Read steps 20-24 from Disciplined Entrepreneurship book
    Apply steps 20 to 24 to project and make a first draft of how you think it might look.

    Agenda:

    Entrepreneurial Process: How Do We Efficiently and Effectively Build the Business and
    Scale It (Bill Aulet, Tod Hynes and Francis OSullivan)
    o 5:05-5:55

    Break
    o 5:55-6:10

    Presentations by the Teams with Feedback from Whole Class


    o 6:10-7:55

    Class 8 (SIP): Perspectives on Starting Companies


    Assignments:
    Market and Go-to-Market Slides Due

    October 24

    Agenda:

    Class Synthesis: Engineers View of Starting a Company (Invite: Riccardo Signorelli


    FastCap Systems, Tony Sagneri - FinSIX, Qichao Hu-- SolidEnergy, Willie Sanchez
    CoolChip)
    Team Time

    Class 9: Fundraising & Exits


    October 31
    Readings:
    Read Venture Capital Investment in the Clean Energy Sector by Ramana Nanda
    Optional: read A Quiet Revolution in Clean Energy by Nanda and Rothenberg

    Read Rand Fishkins blog post: http://randfishkin.com/blog/128/misadventures-venture-


    capital-funding
    Read Matt Nordans blog posts on the subject

    Assignment:
    Go-to-market section due (sales, marketing, pricing strategy)

    Note: ACCELERATE applications due November 28th

    Agenda:

    Entrepreneurial Process: Financing Your New Venture (Bill Aulet)


    o 5:05-5:30

    Building Your Financial Statements (Charlie Tillet)


    o 5:30-6:15

    Break
    o 6:15-6:30
    Exit Strategy (Ramana Nanda)
    o 6:30-7:25
    IP War Stories (Christopher Noble)
    o 7:25-7:55

    Class 10: Round Robin


    Assignment:

    November 7

    Prepare a 10 minute presentation of your project touching on all the key points
    understanding that it is not final but good enough to show the direction and a lot of
    work so you can get meaningful feedback
    Readings:

    None

    Agenda (Meet in E40-160): <<make sure you book all the rooms in the center for this time
    slot>>

    Round Robin Presentations


    5:05-7:55

    Class 11: Building a Great Team; Behavioral Economics & Energy


    Readings:

    Read Difficult Conversations, Chapters 4, 9, 10, 11


    Fill out survey (1 for geeks and 1 for hustlers)

    November 14

    Assignment:
    Revise business plans slides in teams based on the feedback from the round robin
    Agenda:
    Team Dynamics

    5:05-6:15
    Break
    6:15-6:30
    Behavioral Economics & Energy with Chris Knittel <<lets make sure to line him up, he
    is a star>>
    6:30-7:05
    Conversation about energy start-ups with Ray Rothrock
    7:05-7:55

    Class 12: Intellectual Property; Examples of a Great Biz Plan


    Assignment:
    Team and financial sections due
    Investor slide deck due

    November 21

    Agenda:

    Entrepreneurial Process: IP Overview (Bill Aulet)


    5:05-5:30
    Class Synthesis: IP War Stories
    5:30-6:30
    Break
    6:30-6:45
    Class Synthesis: Examples of a Great Plan
    6:45-7:55

    Class 13: Presenting Your Business Plan; Corporates


    Assignment:

    December 5

    Submit investor slide deck & full business plan for submission next week

    Agenda:
    Entrepreneurial Process: Presenting Your Business Plan (Bill Aulet)

    5:05-5:50
    Break
    5:50-6:00 Break
    Class Synthesis/Speaker: Corporates as Partners <<lets line up Chevron, Shell, 3M,
    Bilfinger, GDF SUEZ, others???>>

    6:00-7:30
    Go to Market Strategy

    7:30 7:55

    Week of December 9-13


    Deliver final presentations to teaching team and submit final business plans. Submit final
    investor deck and business plans by December 13th.

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