The Business Accelerator® www.thebusinessaccelerator.net ®
1. Our Vision: The Vision of The Accelerator is to discover and establish a positive and mutually satisfactory relationship with the creative class of individuals who seek to commercialize their scientific, technical, and artistic products of the mind in the form of products of the future that will better enable America to grow and enhance its economic leadership position in the world. 2. Our Mission: Our mission is to get more brains to develop more smart products connected to more resources to spawn more new companies faster. The Global Economy offers unlimited development opportunities and economic growth potential throughout the world if entrepreneurs and inventors are collectively engaged and challenged for creating innovative “jobs of the future.” The main barrier for successful entrepreneurship is the difficulty of finding the right resources and coaching to develop valuable innovative ideas generated by creative entrepreneurs and inventors. The Business Accelerator® is a response to this challenge. Our organization will identify the most valuable ideas and business concepts and will assist entrepreneurs in creating successful growth-oriented enterprises and the commercializing of inventions by inventors. 3. Our Design Thinking Philosophy Our operating philosophy is based on a discipline that uses the designer’s sensibility and methods to match people’s needs, wants, and desires with what technically feasible is coupled with a viable business strategy that can be converted into customer values and market opportunities. We are seeking a fruitful balance between reliability and validity, between art and science, between interaction and analytics, and between exploration and exploration. 4. Product Offering: The Business Accelerator® is an Internet business information and social networking entity for entrepreneurs, inventors and growth-oriented enterprises. We will connect entrepreneurs and inventors throughout the world with the necessary developmental support and resources for discovering and creating successful, growth-oriented ventures in the following six product areas. a. Smart Products: Smart product are specialized tangible items or intangibles creations that embody “brain” like features which uniquely personalize or tailors the features of a product or service in terms of time, convenience, savings, accessibility or usability utility; all of which buyers or consumers appreciate as being something having economic value.
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b. Technology-embedded Products: A technology-embedded service product is one that provides content-based data, information, advice, answers, usages, and time saving facilitation in meeting user needs and wants in the marketplace. c. Green Energy: Green energy products are any form of clean, earth friendly, renewable energy sources, that provide alternatives to traditional energy concepts, and can be provided in highly efficient fashion while not compromising the ability of future generations in meeting their needs for various forms of power. d. Creative Inventions: An invention is the application of the mind through study and experimentation to create a unique design, compositions, technology, devices, machines, products, services, process or items that are novel, attractive, useful, and represents an improvement over current products. e. Sustainability Solutions: Sustainability refers to various service products, whose manufacture, purchase and usage allows for economic development while still conserving for future generations; for example, recycling, upcycling, toxic waste reduction, low energy equipment, reduction in fuel consumption, and development of renewable resources. f. Innovative Ideas: We should search widely and narrowly for innovative ideas to help America to continue its economic growth and dominance in the world, including big ideas and little ideas for the home, business, and government. Individually, we must encourage millions of “economic flowers” to bloom that will help discover another “Facebook-type” innovative business model, while not neglecting the pursuit of little ideas that can have a positive impact on needs of society. 5. Service Offering. The following is the list of developmental services that are offered by The Business Accelerator® 1. Business concept development
7. Licensing & patent services
2. Executive summary development
8. Social networking services
3. Business plan development
9. Venture Assessment Wizard™
4. Coaching and counseling
10. Funding Assistance
5. Individual mentoring
11. Design Thinking
6. Marketing assistance
12. Customized Client Services
Many of the services mentioned above will be provided through our Internet website and in direct contact with a member of The Business Accelerator®. In addition to those services, we will also elicit assistance from ground-based organizations such as the Small Business Development Centers, SCORE and other business professionals and developmental organizations to assist in providing personal advice and counseling to the entrepreneurs. Four Major Service Components: There are four major service components provided by The Business Accelerator®: They are The Venture Assessment Wizard™, the Accelerator’s Entrepreneur Social Network Community, and The Coach™, and Customized Client Services along with direct and individual support initiatives from the leadership team. 2
> The Venture Assessment Wizard™: One piece of intellectual property to be utilized by The Accelerator is the Venture Assessment Wizard™. The Wizard is a tool that is used to predict the early rapid growth of high potential start-up ventures that are engaged in creating innovative products of the future. The Wizard is based on an algorithm analysis of eight key variables: company, product, scope, scale, technology, risk, significance, entrepreneurship, and management; and when combined offer significant clues to early growth of start-up ventures. > The Accelerator’s Social Network Community: The website will utilize a social networking community to bring together entrepreneurs and inventors for meeting online and sharing their best ideas and solutions. The sophistication of the modern world cannot rely on the intelligence of single minds for individual solutions; therefore, we will broadly engage individuals through a connected social community, thereby, accelerating the flow of new ideas by filtering the intelligence of many, rather than a few. The use of collective intelligence is a new idea arising from economics and has been popularized by Matt Ridley with his concept of ideas coming together and mating with one another. It is also the idea behind Brian Arthur’s book – The Nature of Technology – in which he states, “Nearly all technologies are the combination of other technology and new ideas come from swapping things and thoughts” among a wider universe. > The Coach™: After the entrepreneur proposal passes the initial product screening and the Venture Assessment Wizard™, entrepreneurs and inventors can be individually advised by the direct sharing of the intellectual and experience power of the leadership team. They will gain access to a broad menu of individualized service offerings as listed above. > Customized Client Services: In addition to clients we secure through the Internet, The Accelerator will offer ground-based, tailored Customized Client Services to customers needing and seeking such services. These clients will include both start-up ventures as well as existing clients who are seeking exception growth opportunities through their existing business enterprises. Due to the closer of contact with our senior management, customized Client Services offer greater opportunities for employment of design-thinking applications. Our six major product service concentrations will continue to guide our thinking in the acceptance of clients for customized services. The nature of Customized Client Service means that each engagement will different, therefore, our traditional Internet “10+10” compensation model (as described in item 7) may not be appropriate. Consequently, a client performance plan will be developed for each engagement and the services provided in that plan will be priced and agreed upon by both parties. The compensation for those services by The Accelerator can include common stock in the client’s firm, cash payment, royalties, or some combination of these methods; and as agreed in advance by both parties. 6. Our Marketing Reach: Our Internet website (www.thebusinessaccelerator.net) will be the primary method of outreach, discovery, development, and provision of resource assistance to entrepreneur, inventors and existing growth-oriented businesses. The Business Accelerator® website will aggregate entrepreneurs, inventors and small business owners worldwide who have a particular interest in exploring unique business growth opportunities. 3
In this regard, broad connectivity is our paramount goal. Consequently, it is our desire for The Business Accelerator® to serve as one for which all people can enjoy and derive long-term benefits. At the same time we will communicate directly with various nations, states, regional/areas area development authorities, cities, counties/parishes and other area organizations that support the development of business ventures and inventions. 7. Competition and Competitive Advantage: There are several Internet based support organizations for entrepreneurs like www.kickstarter.com, www.ycombinator.com and www.edisonnation.com. To our knowledge, there is not another global firm that is solely dedicated for aggregating entrepreneurs, inventors and growth-oriented firms on a permanent basis. By offering such continuous developmental services, we will have the “first movers” advantage as being the first website supporting entrepreneurs for their unique challenges and opportunities in developing products of the future. Every community has various developmental services dedicated to help entrepreneurs and inventors to start their ventures. Unfortunately the challenge is that such services are scattered throughout each city, county, and state; therefore, local entrepreneurs rarely know about the availability of more than two or three of these services when there may be dozens of such organizations available to help. The Business Accelerator® will aggregate entrepreneurs, inventors and small business owners under a single structure and renders to them developmental services and funding avenues necessary to start and accelerate the growth of their ventures. 8. Our “Fast-track” Business Model: Our business model embraces a “fast-track” business philosophy patterned after Paul Graham’s highly successful Y-Combinator organization in California, as well as the proven business concepts of Eric Riles in The Lean Startup. Both Graham and Riles’ approach encourages entrepreneurs to start small, use incremental investments, nurture, mentor, and get-to-the-market quickly as possible with paying customers. As these young enterprises demonstrate a successful product-market-fit along with a growing customer base, additional financial resources will be secured to further develop and expand the ventures. The end result of this approach is a portfolio of entrepreneurs and inventors with ready-to-go-to-market ventures for further commercializing of their product, services, and inventions. 9. Funding of New Ventures: The Investor Funding Route: Our financial model is predicated on the idea that local business organizations, private investors, and angel investors will invest in and be a partner with promising start-up ventures from listings in our portfolio of ready-for-market clients. In order to commence the venturing process, organizations (angels, etc.) can invest incrementally from $3K up to $18K typically over a one to two year period. This amount will typically be sufficient to “kick start” the venture in order to quickly pre-test the product-market-fit along with having evidence of some paying customers. In return, The Business Accelerator® will receive 10 percent of the common stock shares of the new venture. Of that 10 percent, 5 percent of the common shares will go to the original investor and 5 percent to The Accelerator. The Accelerator will also receive a 10 percent administrative service fee on all monies that are subsequently invested in each venture from backers, sponsors, patrons and investors. 4
For entrepreneurs and inventors, the above is a “Pay Later” route for they are entitled to the full range of services provided by The Accelerator, but do incur an outlay of personal funds. All monies flow from the various investors who decide to invest in individual ventures listed in the portfolio of The Accelerator. An Alternative Developmental Route: As an alternative to the above “Pay Later” investment route for entrepreneurs and inventors is the “Pay Now” route. When selecting this optional Pay Now Developmental Route, the entrepreneur will pay for the various services of The Accelerator on an “a la cart” basis ranging from $25 up to $250 for various individual services including the summary results of the Venture Assessment Wizard™. Below is a diagram showing the two funding routes for entrepreneurs and inventors.
The Business Accelerator® INITIAL SCREEN Product/Idea Definitions “Products of the Future” ACCEPTED Yes
REJECTED Re-Submit
ASSESSMENT ™ Venture Assessment Wizard INVESTOR ROUTE
DEVELOPMENTAL ROUTE
Pay Later (10%+10%)
Pay Now ($25 - $250) VENTURE DEVELOPMENT SERVICES
Full Service
Limited Services
COMMERCIALIZATON Sales - Advertising - Promotion - PR 10. Management Team: 1. President and CEO: Victor Ermoli, IDSA is the Dean for the School of Design at the Savannah College of Art and Design and an active member of the Industrial Design Society of America. He is responsible for the Industrial Design, Furniture Design, Jewelry and Objects, Fibers (Textiles), Design Management, Service Design, Design for Sustainability, Interaction Design, and Marine Design programs. He has developed and created with his team all the mayors in this list except Fibers and Furniture Design. 5
His previous position was Chairman of the Industrial Design Department. At age 28 he was promoted to this position making him the youngest chairman of an Industrial Design Department in the United States. He demonstrated a strong leadership, creative problem solving, and outstanding design skills. He was presented with the challenge of creating and developing the Industrial Design Department and he was able to build one of the most successful and talkedabout design programs in just a few years. He designed the curriculum, original philosophy and overall strategy for the program. He possesses a unique perspective in developing innovative products, because of his worldwide experience in design. Three Design degrees from Venezuela, United States, and Canada, lived in Europe for more than 2 years and designed products and props for commercials in several of those countries. This experience gave him a unique perspective in the relation between users, their culture, and the products they consume. He has been featured in Biz Reports as the top “40 and under 40”. In 2000, the prestigious ID Magazine named him one of the Forty under Thirty best industrial designers. In 2011, he was named one of the 25 most admired educators of the year by the internationally recognized publication Design Intelligence. With more than 21 years of experience, he has designed a wide range of products from motorized scooters to coffee makers. His innovative window covering system is patented in the United States and Canada. He has also produced and made special effects for several TV commercials for prestigious firms like Fiat and P&G. In recent years, he has been a design consultant for Phillips (Netherlands), Eastman Chemical and Gulfstream Aerospace. With his students, he designed products for Coca-Cola, Kennel-Aire, City of Washington DC, Buck Knifes, Hobart Industries, Fossil, Pentair, Dell Computers and other prestigious companies. 2. Chairman and Co-Founder: Ervin William, Ph. D., is an entrepreneur, author, consultant, and former Professor of Strategic Management and Entrepreneurship at Georgia State University in Atlanta. Currently he is an Entrepreneur in Residence at Savannah State University. He also was a Visiting Professor of Entrepreneurship at the University of South Africa in Pretoria. His entrepreneurial experience includes nine start-ups on three continents. A current endeavor is The Small Business Accelerator, Inc., - an Internet business information and social networking company dedicated to creating American jobs through accelerating the development of start-up ventures and promoting the growth of existing small businesses. He has lectured extensively on entrepreneurship and leadership in a number of countries including Belgium, England, Finland, Hungary, Russia, Switzerland and South Africa. He served as a consultant to the GetAhead Foundation in South Africa, an Entrepreneurial Center started by President Mandela. His education includes a Bachelors Degree from Georgia State University, a Masters Degree from Georgia Institute of Technology and a Doctorate from The Ohio State University. He is the author of a book entitled The Global Entrepreneur; is writing a book on Corporate Entrepreneurship, is Chairman of BestMedical, Inc.; is a former V-P and member of the Board of Directors of Ariel Savannah Angel Partners, LLC; and is a member of Rotary International. 3. Vice Chairman and Co-founder: Jim M. Williams co-founded the firm of JM Williams, Inc., Investment Bankers and Strategic Advisors in 1988 and serves as Chairman. Projects for corporate clients and government issuers have included strategic/financial advisory, underwriting, entrepreneurial, economic development, joint venture/alliances, merger, acquisition and divestiture projects totaling over $ 5.568 billion. He served as Managing Director 6
and Southwest Regional Manager for the Wall Street firm of Smith Barney. During his ongoing 31 year investment banking career he has worked on more than 227 projects for companies, state/local governments and institutions in the U.S., Caribbean, Mexico, India, Great Britain, Costa Rica and South Korea – with ongoing partners totaling over $20.5 billion. Jim earned his BBA degree from Lamar University and his MBA degree from The Cox School of Business at Southern Methodist University. He also served six years in the U.S. Coast Guard Reserve. He is a guest lecturer on Entrepreneurship for graduate Students at Savannah College for Art & Design-SCAD; Serves as Chairman, The Center for Entrepreneurial Learning & Leadership’s Advisory Council-College of Business, Georgia Southern University (GSU); selected by GSU as Entrepreneur Fellow; a member of the Ariel Southeast Angel Partners; and is Chairman of the Georgia-Cuba Trade Association. 4. Senior Lead Strategic Advisor: R. Scott Tobin has a wealth of experience as a senior executive, entrepreneur, venture capitalist and lawyer. His career has included roles as President, General Counsel, Principal Financial Officer and Board Member of a publicly traded molecular diagnostics company, CEO of a North Carolina furniture manufacturer, General Counsel to a global software firm, Executive Vice President for Global Strategies of a publicly traded information technology company, Managing Partner of the Atlanta office of a European law firm and Assistant Attorney General for the State of Georgia. In business, Mr. Tobin has primarily focused on nurturing rapid business growth, building international strategic alliances, commercializing intellectual property, structuring debt and equity arrangements, and guiding market entries and exits. As a practicing lawyer, he has primarily focused on mergers and acquisitions, corporate governance and technology finance. Mr. Tobin received both his undergraduate and law degrees from the University of North Carolina at Chapel Hill and now serves as President and Chairman of the UNC School of Law Foundation. He is a member of the law school’s Long Range Planning Committee and a member of the Executive Committee of its Alumni Association. He also has served as the founding and co-managing director of the UNC School of Law Initiative for Corporate Governance and as a member of the UNC School of Law Council for Entrepreneurial Law. Currently he is Vice Chairman of the North Carolina based Center for Board Excellence. Mr. Tobin was recognized in 2003 as one of the Top 10 business people to watch in the Triad Region of North Carolina, where he served for many years on the board of directors of the Piedmont Triad Entrepreneurial Network. He also has served on the advisory board of The Creative Coast Alliance, the entrepreneurial arm of the Savannah Economic Development Authority. The Business Accelerator’s Strategic Advisory Board includes: Mostafa Sarhan, Ph.D., Dean of the College of Business at Savannah State University and Ellwood Ivey, inventor and President of Trisenx, Inc. of Savannah, Georgia. Contact Us: The Business Accelerator, Inc., Savannah, Georgia, Victor Ermoli, 302 Wellington Road, Savannah, Georgia, 31410, Phone: 912-247-2668; and Email: vicerm1@gmail.com, (www.TheBusinessAccelerator.net). Doc. B-3
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