Entrepreneurship: Company-Building from Formation to Successful Exit
Winter 2024
CSE 589 (undergraduate and graduate), CSE P589 (Allen School PMP), ENTRE 532A/B (Foster School)
TL;DR Interdisciplinary teams will develop a pitch, business plan, and product demo. In order to achieve an appropriate mix of student backgrounds and a manageable class size, a course application and permission of the instructors is required to obtain an entry code.
For a number of years, Greg Gottesman and his fellow Madrona Venture Group Managing Director Matt McIlwain taught an entrepreneurship course in the Foster School of Business. During Winter 2014 they taught the course in the Paul G. Allen School of Computer Science & Engineering in collaboration with Allen School professor Ed Lazowska, adding a technical audience that included Allen School undergraduate and graduate students to the Foster School MBA students. Greg and Ed offered a repeat of the course in Winter 2015, adding design-oriented students from Interaction Design, HCDE, and MHCI+D to the mix. In Winter 2016-2022 Ed and Greg - now Managing Director and Co-Founder of Pioneer Square Labs - repeated the course. In Winter 2023 they were joined by Oren Etzioni - serial entrepreneur, CEO of the Allen Institute for AI from its inception through September 2022, technical director of the AI2 Incubator, Venture Partner at Madrona Venture Group, and Professor Emeritus in the Allen School. Greg and Ed will offer the course again in Winter 2024.
Greg is the very best. He has invested in over 100 companies as a venture capitalist, played a founding role in more than a dozen startups, and helped fund more than 15 Allen School spinouts.
The instructors and the colleagues who will join them to provide guest lectures and student feedback have a wealth of experience to share. The course is, above all, practical - interdisciplinary teams will develop a pitch, business plan, and product demo. In the final class session, teams present to a panel of top VCs.
What can students achieve in the 8 weeks between team formation and final presentation? Take 8 minutes to watch team savvy's 2024 pitch. Have an extra 5 minutes? Continue on to the team's Q&A with the VCs.
This course is open to Allen School undergraduates, combined BS/MS students, Professional Masters Program students, and Ph.D. students, as well as to Foster School MBA students, students in Interaction Design, graduate students in Human Centered Design & Engineering, and students in the Master of Human-Computer Interaction and Design program - all by permission of the instructors in order to ensure balance among the participants. There will be no auditing - everyone needs to be all-in. And project teams will form early - if you hang on for a week or two and then bail, you'll be letting others down, so please don't do this.
The course will meet Wednesday evenings, 6:00-9:15, from January 3 through February 28 in PACCAR 291, and Wednesday evening March 6, 4:30-7:30, at Pioneer Square Labs. (Office hours will be held virtually - we first did this in 2021 due to the pandemic, but it has proven to be more convenient for everyone.) Project teams will spend a great deal of time working together outside of class.
This is a four credit, graded course. The UW faculty contact (and the author of this web page - don't blame Greg!) is Ed Lazowska.
Course Application
Course application is closed - we are fully enrolled for Winter 2024. But we expect to be back next year!
Course Staff
Greg Gottesman, greg at psl.com (instructor)
Ed Lazowska, lazowska at cs.washington.edu (instructor)
Andrey Risukhin, risuka at cs.washington.edu (TA)
Lawrence Tan, lawtan at cs.washington.edu (TA)
Andrea Leach, andrea at psl.com (PSL support)
Matt Wang, matt at psl.com (PSL support)
Course Syllabus, Reading Assignments, and Homework Assignments
Here is a detailed syllabus that includes the content of each evening's presentation, the schedule of reading assignments, and the schedule of homework assignments. The two sections below are quoted from the syllabus:
Course Objectives
The course objectives are two-fold: (1) to develop an awareness and understanding of the range, scope, and complexity of issues involved in starting a technology business; and (2) to gain insight into how entrepreneurs conceive, adapt, and execute strategies to create new, successful businesses.
Course Overview
This course is about entrepreneurship and specifically about starting, growing, managing, leading, and ultimately exiting a new venture. Of all the courses you take at the University of Washington, this one will likely be the most hands-on. Sixty percent of your grade will be based on a pitch, product demo and business plan that you develop with your team.
The course sessions will follow the natural order of starting a new business: choosing your idea and your team, validating that idea with customers, honing your initial pitch, dealing with the legal issues of starting a business, building a great product, deciding among financing strategies, developing a go-to-market and operating plan, and exiting successfully. We will spend part of nearly every three-hour block giving you feedback on your actual pitches, your product, and your business generally. To ensure that this course is practical, we will invite numerous guests who are currently working in the venture ecosystem: CEOs, venture capitalists, lawyers, journalists, and others involved in the startup community.
Inclusiveness
You should expect and demand to be treated by your classmates and the course staff with respect. You belong here, and we are here to help you learn and enjoy this course. If any incident occurs that challenges this commitment to a supportive and inclusive environment, please let the instructors know so that the issue can be addressed. We are personally committed to this, and subscribe to the Allen School Inclusiveness Statement.
Feedback
The course staff welcomes your feedback! Should you have issues or concerns that you are not comfortable raising directly with the course staff, there are a number of mechanisms available to you. They're listed here.
No recording! No social media!
Our guests must be able to speak candidly. No recording! No social media! What our guests tell us remains among us.
Covid Protocol
Masking is no longer required at UW, but we certainly encourage it. It's especially worthwhile during the first few weeks of the quarter, when folks are returning from holiday travel and social events.
As the quarter unfolds, if you do not feel healthy, or if you believe you may have been exposed, or if you test positive, please stay home! (Send Ed email explaining your absence.) Missing one class session or team project work session is not the end of the world! Your health, and the health of your classmates and project teammates, is paramount!
UW's Covid information page is here.
Course Email
Send email to course members by using the address multi_cse589a_wi24 at uw.edu.
The archive of email is available here.
Office Hours
Contact any of us by email at any time if you want to schedule a time to talk! Official office hours:
- Greg and Ed: Saturdays (and Sundays if needed), 9:00-11:00, on Zoom - schedule here.
- Andrey: Mondays 12:30-1:30 and Fridays 11:30-12:30, on Zoom - schedule here.
- Lawrence: Mondays 2:30-3:30 and Fridays 2:30-3:30, on Zoom - schedule here.
Readings
The schedule of readings is noted on the syllabus.
Prior to the first class, read Some Thoughts on Business Plans (HBS Case #9-897-101).
Background reading - All of these are worth your time!
- David Cohen & Brad Feld, Do More Faster: TechStars Lessons to Accelerate Your Startup (UW Libraries electronic copy available here)
- Peter Thiel, Zero to One: Notes on Startups, or How to Build the Future
- Colin Bryar & Bill Carr, Working Backwards: Insights, Stories, and Secrets from Inside Amazon
- Brad Feld & David Mendelson, Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist
- Wes Bush, Product-Led Growth
A video that you should watch
- A History of Innovation: How Seattle Changed the World (KOMO News - an hour, and a bit over the top, but inspirational, chock full of fascinating history, and well worth your time)
A podcast that you should follow
- Acquired (Ben Gilbert and David Rosenthal)
Additional readings during the quarter - here's the lineup:
- Some Thoughts on Business Plans (HBS Case #9-897-101)
- The Art of Pitching (Chapter 3 of The Art of the Start) (Guy Kawasaki)
- Madrona Venture Group Seed Pitch Deck Guide
- Demo Day TechStars Pitches (watch the videos linked from the article)
- Every Company Needs A Strategic Narrative. Here’s Why (And How To Build Yours)
- PR FAQs for Product Documents
- Working Backwards PR FAQ Template
- How to write a Working Backwards PR/FAQ document
- Amazon Kindle Press Release
- Amazon Leadership Principles
- Rover wins "Best in Show" at Startup Weekend (watch the video linked from the article)
- Bootstrap Finance: The Art of Start-ups (Amar Bhide, Harvard Business Review, November-December 1992)
- Annotated legal term sheet for venture capital financing: pdf; docx
- WSGR term sheet: pdf; docx
- Simple template financial model (for a SAAS startup)
- Medium post on creating a financial model (also for a SAAS startup)
- Excellent interview with Rich Barton - the philosophy behind Expedia, Glassdoor, and Zillow
Homeworks
The schedule of homeworks is noted on the syllabus.
Homeworks should be emailed to Matt Wang at Pioneer Square Labs - matt at psl.com.
Lecture Slides
Slides will be posted following most classes. (These slides are for your personal use in connection with this course, and are absolutely not for sharing. All quantitative information is strictly confidential.)
- Week 1 (Introduction to Entrepreneurship): Greg (Entrepreneurship Course Overview) pdf
- Week 3 (Customer Validation): Peter Denton (Finding 'Product Market Pull' through Digital Marketing) Google slides; Colin Bryar and Bill Carr (How to write a Working Backwards PR/FAQ) Google doc, see also slides from 2023, also "PR FAQs for Product Documents," "Working Backwards PR FAQ Template," and "Amazon Kindle Press Release" under "Additional readings" above
- Week 4 (Building Product): David Zager (How to design for startups - a crash course) pdf web; Emily Pesce (On Startups and Product) pdf
- Week 5 (Market Environment, Timing & Storytelling): Julie Sandler (Build Your Own Personal Board Of Directors) pdf
- Week 6 (Go-to-Market & Marketing Strategies): Kieran Snyder (Secrets of Growth Marketing) ChatGPT bias data, Textio Lift, last year's slides (pdf); Aaron Easterly (Marketing in a Tech Marketplace: Lessons from Rover's Early Days) last year's slides (pdf)
- Week 7 (Financial Modeling & Financing Dynamics): Hope Cochran & Elisa La Cava (Constructing a Financial Model) pdf, see also Simple template financial model (for a SAAS startup) and Medium post on creating a financial model (also for a SAAS startup); Greg Gottesman (The Only Five Terms That Matter) pdf pptx, see also Annotated Term Sheet for Venture Capital Financing pdf docx, WSGR Term Sheet pdf docx
Final Presentations
During the tenth and final class session - Wednesday March 6, 4:30-7:30 - each team will have eight minutes to present its business to a panel of top venture capital and angel investors and then take five minutes of Q&A. This session will be held at Pioneer Square Labs.
Confirmed panelists for 2024: Matt Dittrich (Cornucopian Capital), Geoff Entress (PSL Ventures), Mike Fridgen (Madrona Labs), Bryan Hale (Anthos Capital), Geoff Harris (Flying Fish Partners), Scott Jacobson (Madrona Venture Group), Elisa La Cava (Trilogy Equity Partners), Sara Lindquist (FUSE), Annie Luchsinger (Breakers VC), T.A. McCann (PSL Ventures), James Newell (Voyager Capital), Tim Porter (Madrona Venture Group), Stephan Roche (SemperVirens VC), Jason Stoffer (Maveron), Kirby Winfield (Ascend VC).
2024 Team Projects
- CareBots - A robotics software company building AI-powered robotic assistants for senior care
- Linda.AI - An AI-enabled, personalized assistant that makes scheduling and planning accessible to all families
- Nari AI - Automating real estate transactions for informed and experienced homebuyers
- oscar.ai - A lifelong writing coach using LLM technology to provide personalized, interactive writing tutoring
- Pluri - Personalized, curated books enabling multilingual parents to teach language and cultural heritage to children aged 0 to 6
- savvy - A personalized online search and recommendation engine tailored for fashion enthusiasts
- Study Beats - Helps students memorize complex topics by converting them into tunes that maximize mnemonic potential
2023 Team Projects
- AfterAware - Text-based post-discharge app that facilitates communication between patient and physician
- AutoNote - Notetaking app for students, assisted by speech understanding and generative AI
- ElecTrip - EV trip planning that avoids range anxiety and brings customers to SMBs
- EZ Leave - Automating the application process for family medical leave
- Handheld - Helping seniors become self-sufficient with tech with a simple-to-use app
- Jia - Personalized cultural and linguistic exposure for the children of immigrants, leveraging generative AI to create stories and pictures
- Talu - Marketplace and logistics solution to facilitate farm-to-table
- Waltz - Podcast language translation service that preserves emotion, to broaden market access for podcasters
2022 Team Projects
- Bloom - A platform for managers that increases team engagement by providing information about employee attitudes and preferences
- Deadwood - Climate impact assessment for small and medium companies
- entertain.ai - AI-assisted music composition for videogames and more
- Gizmo - A market place for drone services, initially focused on real estate
- Goodbot - Kadence: a multi-calendar browser extension to reduce the pain of scheduling multi-person meetings
- Hera Adventures - Connecting female athletes to their fans
- IngrediSense - For individuals with dietary restrictions: know what’s in your food, fast & easy
- Reli - Building an in-depth dermatology experience through images and data
- TriSimpli - Clinical trial matching, made easy
2021 Team Projects
- AUXIN - Enables social media content creators to repurpose and deploy on a range of social media platforms to grow exposure and audience
- CodeFair - Enables users of open source software to add monetary tips to their issues, incentivizing maintainers
- Copia - Makes buying fresh local produce convenient and affordable; includes a “group order” feature that provides a discount
- InFact - Browser extension and cloud service enabling users to verify the validity and bias of an article; combines crowd-sourced reviews with machine learning
- Minerva - SaaS solution that makes hiring international remote workers seamless and easy
- Mote - A FinTech company that facilitates fractional share ownership by Gen-Z in brands they love, cementing loyalty
- ProManage - Material management and price monitoring software for small to medium contractors
- VerbalEyes - Automated audio captioning of video content to meet ADA requirements
2020 Team Projects
- Footprint - Enables sustainable food choices through a carbon footprint scoring system of food products
- Career Compass - AI-enabled personalized career guidance for women
- Crumbs - A marketplace for excess food from small and mid-sized cafes, diners and bakeries
- Discover Art - A marketplace connecting local artists with buyers interested in affordable art
- MoreLife.AI - A data platform enabling AI healthcare companies to acquire, clean, and label medical training data
- Classy - Insightful and personalized course data that enables efficient course planning
- StreamLocal - Enables any business, on any budget, to advertise with streaming video
- Vivid 3D - Allows 3D product teams to quickly and easily collaborate on their work
- Bio.me - Dietary control of bowel disorders via microbiome analysis
2019 Team Projects
- OverEasy - Effortless excellence in food safety for restaurants
- Pitch.ai - Digital assistant for improving public speaking skills
- Stylit - Wardrobe styling for young male professionals
- The U - Student and alumni Reddit-like network - anonymous honest answers
- SafeMode - Waze-like app for personal safety in LatAm
- S I A - Expert-driven library of audio summaries of bestsellers and self-help books
- Finulate - Automated financial modeling for startups
- ReelFish - CrowdCow for seafood
- Bottomline - Accurate comparison of compensation packages
2018 Team Projects
- Podessa - Business intelligence for podcast advertising
- CodeLok - Storage where you need it
- InstaUp - AI-powered content assistant for Instagram
- Kache - Virtual goecaching
- EdgeSports - Taking the heartburn out of sports scheduling
- Gambit - Maximizing credit card rewards with ease
- Roamed - Travel + healthcare
- TechBuddies - Make technology your friend
- Dining Pass - Restaurant subscription service
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