Three levels of new venture development services will be provided. These will be performed by students under the guidance of experienced faculty, advisors and staff.

1.  Idea - Initial Assessment and Evaluation

Hogan Program students will help identify potential new ventures by screening business ideas and proposals from the community and other students. Students will interview pre-qualified individuals who have business ideas and will assess and evaluate the potential of the ideas using specified criteria, reviewing these new venture ideas with a board of experienced entrepreneur advisors. Based on this review, a determination is made whether to pursue the idea in the NVL. A response to the entrepreneur explains the decision, outlines the next steps or suggests alternatives the entrepreneur may wish to pursue.

2.  Proof of Concept – Research and Analysis 

For those ideas that become NVL projects, students will provide appropriate research to validate:

• The need for the solution provided by this idea
• The "value proposition" for customers of this solution
• The effectiveness and/or practicality of the product
• The competition and potential for competitive barriers
• The potential market capable of generating needed revenue
• The solution's manufacturability and/or profitability 

3.  Business Plan – Preparation for Funding 

Upon completion of the "Proof of Concept" level, students will provide coaching on how to prepare and present an effective Business Plan. This will include activities such as:

• Preparing an Executive Overview that will capture investor interest
• Ensuring that claims and forecasts are supported with quality research
• Completing a financial plan that is realistic and achievable
• Developing a compelling presentation for potential investors
• Demonstrating that the proposed management team is capable

Collaboration

The NVL collaborates with several entities, both on campus and in the business community, to apply the best possible talents and services to each project. Because the Hogan Program includes students from all major fields of study, those students have access to the entire faculty, staff, lab and research resources of the University. The Hogan Program is actively engaged with other entrepreneurial programs in the community.

Protection of Intellectual Property

The Hogan Program and the NVL will not enter into non-disclosure agreements with entrepreneurs. However, a Memorandum of Understanding outlining the NVL policy regarding IP and how the NVL generally protects the entrepreneur's interests is available.

Additional Information

See our web site (www.gonzaga.edu/entrepreneur) for additional information about the Hogan Entrepreneurial Leadership Program and the New Venture Lab. Comments or inquiries about the New Venture Lab and this overview may be sent to the nvl@gonzaga.edu.