PSF Staging
Staging
SciVentures™ Stage-to-Stage Decision Process
Stage 1:
Concept Analysis		 Stage 1 support focuses primarily on the technology, its novelty, potential patentability, ownership and its relationship to potentially significant market impact (i.e. large targets).

Within stage 1 activities include the full definition of inventions (& thus determination of IP portfolio scope), competitive technology analysis, initial market assessment and team capabilities issues.

Integration of component technologies from multiple sources to build viable concepts may also be included.

Stage 2:
Market Development		 Assessment for movement from stage 1 to 2 is based on the IP position, scope of potential market impact/speed and ability of (expanding) team to deliver.

Stage 2 activities focus primarily on market assessment using Porter’s sustainable competitive advantage model to define/refine a competitive business concept/model.

IP development continues.

Stage 3:
Venture Development		 Movement from Stage 2 into 3 is based on the potential of the business concept, clear technology ownership and elimination of issues that could prevent establishment of a winning team for next steps.

Stage 3 refines the business models and develops a winning business plan (with global market potential). In stage 3, complete establishment of IP portfolio also occurs, as does definition of all key HR requirements, together with preparation of team for further capital raising, or technology sale.

Progress / Status

Within 30-45 days of the completion of an investment terms sheet, SciVentures will decide upon and commit to first stage funding of an agreed identified opportunity from an eligible institution (or institutions). This opportunity will have been established as an independent entity or project that will hold the rights to the IP to be invested in by SciVentures.

SciVentures will establish agreed milestones and staging expectations with the investee at the time of first investment.

SciVentures will hold regular meetings (at least monthly) with the investee to measure progress against these agreed expectations.

Milestones Outstanding

Regular reporting of all achievements against milestones by each investee is expected by SciVentures.

In addition to regular meetings, each investee will electronically report progress status to his/her SciVentures project manager.

SciVentures will provide detailed assistance to any investee that may request its support or which may encounter difficulties with scheduled milestones.

Any specific changes in milestones will be agreed with SciVentures, if required, in order to satisfactorily progress an opportunity for which some revision in strategy may be found necessary.

Communication

SciVentures has a preferred/recommended communication method which is verbal (both face-to-face in person and by phone). Detailed discussion and mentoring are best facilitated by highly interpersonal approaches, SciVentures believes.

However, these regular verbal interactions will be supported by a required written summary reporting procedure, and all details will be incorporated into the SciVentures investee/investment database.