FastTrac®
About FastTrac®
FastTrac® is a comprehensive business planning program that addresses the needs of start-up entrepreneurs who are refining their business ideas, writing their business plans and seeking to grow sustainable high-impact companies.
The program offers customized curriculum for life sciences and tech companies and combines instruction from experienced business professionals with one-on-one business mentoring, peer learning, and ample tools to help entrepreneurs produce all the elements of an effective business.
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Schedule
WEEK 1: Entrepreneurial Reality vs. Mindset
WEEK 2: Market Definition
Tech track: Market Opportunity
Life science track: Scientific Opportunity
WEEK 3: Research and Analysis
WEEK 4: (Split topics)
Tech track: Go-to-Market Strategy
Life science track: Clinical Strategy
WEEK 5: Introduction to Financial Models and One-on-One CFO Sessions
WEEK 6: Building and Compensating Your Team
WEEK 7: Sources of Funding and Deal Structures
WEEK 8: Company Formation and Intellectual Property
WEEK 9: (Split Topics)
Tech track: Technology Review Panel
Life science track: Regulatory Strategy
WEEK 10: Final presentations and Graduation
Results
After completing the program, FastTrac® participants have:
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Evaluated and improved a business concept
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Built a valuable network of entrepreneurial peers and important mentor relationships
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Developed and effectively communicated-via elevator pitches, business plans, and investor presentations their:
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Market opportunities
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Business strategies
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Value propositions
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Financial models
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Validity as an investment opportunity from equity and/or other capital sources
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Features
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A focus on each participant's own business rather than academic models
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Teams of trained instructors with successful company building experience
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A focus on each participant's own business rather than academic models
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Reviewed homework assignments that create a thorough business plan
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Expert guest speakers with real-world experience and valuable contacts
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Industry-specific breakout groups to enhance peer counseling
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Hands-on, individual business counseling from expert entrepreneurs
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Entrepreneurs are assigned mentors who have extensive knowledge of all business disciplines
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Entrepreneurs are provided comprehensive course workbooks, business planning tools and templates developed by nationally-recognized entrepreneurs
Receive one-on-one business training and mentoring
Walk away with a detailed business plan and executive summary presentation
Testimonials
"The biggest benefit of this class for us, already having our product out for about a year, was how it helped us audit our way of thinking and get us motivated to go through the next phase. The class allowed us to make some very beneficial connections and gain valuable feedback on our product."
- Chris Graner, founder CEO, Motorstats.com
"I can 100% tell you that without having gone through this program, I would never have been able to start PrepChamps. It was the small group advisors and several successful area CEOs within the FastTrac class that helped to incubate my idea ."
- Dean Bundschu, CEO, PrepChamp
"FastTrac was everything I thought it would be and more. It was a great investment of my time and it has given me additional insight to turn around the performance of my business and grow it to scale."
- Charles Wilson, CEO, INTELLUS
"This program helped me map out the strategy and direction of my company. It took my partner and I through all of the critical pillars of business planning and management, and helped us craft a presentation to investors . Without the help of CED I would not have the resources I needed to lay the foundation for my business and think beyond the grind of the everyday."
- Barbra Denison, marketing director, Cranky Creative Group
Fun Facts
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Each year more than 75 entrepreneurs are provided the opportunity to showcase their company to investors through FastTrac® program, and more than 600 companies have graduated from FastTrac® since 1999.
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Overall, FastTrac® participants have raised more than $400 million.
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FastTrac® company fundraising success stories:
Motricity, Inc., $50 million in 2007
Liquidia Technologies, $16 million in Series B plus $2,500,000 in additional awards
AlphaVax , five rounds of private equity financing
Affinergy, Inc., more than $17 million
CipherOptics, Inc., $17 million from Lucent and venture capital
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FastTrac® graduates that have had IPOs:
