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What: Three week Immersion Venture Assessment process designed to investigate the product-market fit and business opportunity of a new, innovative product or concept.
Who: Entrepreneurs that need help with their growth oriented product or concept.
How: Each week will consist of a 90 min, in person workshop with a weekly assignment to be completed by the participating company. Additionally, weekly one-on-one meetings will be scheduled with each company to discuss in more detail the concept, targeted markets and potential market(s). Following the completion of the Assessment process, i2E will meet with each company to help identify next steps.
When: The (3) weekly workshops are held on Thursdays from 4:30pm-6:00pm. Attendance is required at all workshops.
Where: Workshops are held at i2E offices in Oklahoma City and Tulsa. Weekly updates are via phone.
Objective: Identify a potential market for the concept, estimate the market size, determine a preliminary value of the opportunity, and make a preliminary assessment of whether the concept offers sufficient profit potential to pursue additional investment of time and money.
1) Assessment of market needs
2) Determine potential market(s) and market size
3) Identify market barriers
4) Identify market trends and competitors
5) Estimate preliminary profit potential
Outcomes: i2E will help assess the business opportunity, identify risks, and determine product market fit. The outcome should be a “go/no go” decision by the company and next steps for commercialization where there is a “go” decision. A written assessment and next steps will be prepared for each company that decides to move toward commercializing their venture. After the course, i2E will recommend resources, programs and potential funding sources that will best suit the needs of the start up.
Cost: $250. Should the company be approved to become an i2E client following the Assessment process, the $250 fee will be applied to the $2000 client fee.
1) Company must be eligible to receive i2E services
2) Concept should be scalable and a potential growth opportunity
3) Complete online Venture Assessment Application Form
4) Execution of Program Engagement Agreement
5) Payment of fee
Q: Do I have to attend the workshops in person?
Q: I don’t have any users or customers and haven’t built a product yet…Can I come?
Q: Who can come with me?
A: Only your fellow startup members.
Q: What is an eligible company for i2E services?
A: Companies that are not eligible for i2E services include retail, real estate development, oil and gas exploration and production, franchisees and other retail services.
Q: Do I have to do anything before the course starts:
A: Yes, fill out the Venture Assessment Application Form. If you are accepted to the program, you will receive a Program Engagement Agreement in a confirming email.
Q: What do I bring with me?
A: Your signed Program Engagement Agreement and your check.
Q: How long does each meeting last?
A: 90 Minutes.
Q: Since the workshop is in the evening, will you provide dinner?
A: No, but feel free to bring food.
Q: Where are the i2E’s offices located?
A: i2E’s Oklahoma City office is located in the University Research Park at 840 Research Parkway, suite 250. The Tulsa office is located at 618 E. 3rd Street. Click here for maps and driving directions.
For more information please contact Elaine Hamm, 405.813.2420 ehamm@i2E.org.
The Immersion Venture Assessment is part of i2E’s Immersion Program funded by the U.S. Department of Commerce Economic Development Administration in partnership with the Oklahoma Center for the Advancement of Science and Technology (OCAST) and the Oklahoma Business Roundtable.