pitch days: lessons learned and practices · 2019-12-05 · air force ventures pitch days: lessons...
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Air Force Ventures Pitch Days: Lessons Learned and Practices December 2019
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Disclaimer
These are the speaker’s/author’s personal views and not necessarily those of US Department of Defense or the US Air Force.
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BLUF
AF Ventures leverages private funds to deliver capabilities.
WHAT: Leverage private funds to deliver capabilities and grow the economy.
HOW: Many small bets, scale the winners 1000+ Small bets per year ($50K, 3-months) ~300 Medium bets per year ($1-3M, <24 months, 1:1 private matching OR 2:1 gov matching) 10s ‘Strategic’ bets per year ($10M+, <48 months, matching: 1 innovation:1 gov customer :2 private)
WHY: Growing importance of private R&D Contracting of defense industrial base China’s technological Rise
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WHY?
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Societal Trends
Need to LEVERAGE private R&D to combat China’s technological Rise
DoD no longer majority source of
R&D funding
Contraction of top-tier of US Security
Industrial Base
Provide for US global technological and
economic influence
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Why? (1/3)
Need to use AF funds to ‘leverage’ private funds
Private$300B
DoD$60B
2016 R&D Funding
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Why? (2/3)
Reinforce US technological and economic influence around the globe
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Why? (3/3)
Catalyze growth of new 'dual-use unicorns’
$1B+
$1B+Startup ‘B’
Startup ‘A’
New Acquisition Strategy: Scaling a fast growing technology company by leveraging private R&D
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HOW?
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Phase I Pitch Day
Award and Pay Same Day
Small Bets (~$50K)6-7 March, 2019
Times Square, NYC
Award and Pay Same Day
Apply online15 slides5 pages
3 rounds per yearFeb, Jun, Oct
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Phase II PEO Pitch Days
Pitch Air Force Customers Live
Medium Bets (~$1M)November + DecemberCA, OH, FL, MA, DC1:1 Private Matching
2:1 Gov Matching
Space Pitch Day w/ Elon Musk
Apply online15 slides15 pages
100 Second Video3 rounds per year
Feb, Jun, Oct
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AF Pitch Bowl
Scale the very best prototypes to programs of record
Large Bets ($12M+)March 2020Austin, TX
1:1:2 Matching
Apply online50 pages
SYSML digital engineering docsRequired gov AND private matching
1 round per yearOct-Feb
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AF Ventures + Pitch Days
From first contact to program of record…
Small Bets (~$50K)6-7 March, 2019
Times Square, NYCPhase I Pitch Day
Medium Bets (~$1M)5-6 November, 2019San Francisco, CAPhase II Pitch Day
Large Bets ($10M+)10-14 March, 2020
Austin, TX‘Strategic SBIR Awards’
Program of Record
AFWERX ‘Front Door’
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Results since August 2018
The USAF is building the capability to leverage private funds
$350M+ Private Funds $100M+ non-SBIR Funds $200M+ SBIR funds
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Some Tactical Details
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How to coordinate all the Stakeholders?
We do NOT play matchmaker
• Competition for SBIR resources (for both companies AND government orgs)
• Goal is to drive to strategic capabilities and growth in companies
• Key is coordination between AQ, End-user, Companies, Investors
Acquisitions
Operators
Companies
Investors
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AF Ventures = Operators + Acquisitions
Volunteer Venture Liaisons at every MAJCOM, PEO and Center
MAJCOM ‘Venture Liaisons’
[email protected]@afwerx.af.milMAJCOM.PACAF.Ventures@afwerx.af.milMAJCOM.USAFEAFAFRICA.Ventures@afwerx.af.milMAJCOM.AFMC.Ventures@afwerx.af.milMAJCOM.AFRC.Ventures@afwerx.af.milMAJCOM.ANG.Ventures@afwerx.af.milMAJCOM.AFNORTH.Ventures@afwerx.af.milMAJCOM.AFGSC.Ventures@afwerx.af.milMAJCOM.AETC.Ventures@[email protected]
PEO ‘Venture Liaisons’[email protected]@afwerx.af.milPEO.SOF_ISR.Ventures@[email protected]@afwerx.af.milPEO.C3IN.Ventures@afwerx.af.milPEO.PresidentialAirlift.Ventures@[email protected]@afwerx.af.milPEO.ACS.Ventures@afwerx.af.milPEO.FighterBomber.Ventures@afwerx.af.milPEO.Tankers.Ventures@[email protected]@afwerx.af.milPEO.Space [email protected]@afwerx.af.milPEO.StrategicSystems.Ventures@[email protected]@afwerx.af.mil
Center ‘Venture Liaisons’[email protected]@afwerx.af.milCenter.AFLCMC.Ventures@afwerx.af.milCenter.AFTC.Ventures@afwerx.af.milCenter.AFRL.Ventures@[email protected]
AFWERX (A8) SAF/AQ SBIRAFWIC (A5)
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450 contracts, $140M, 12 days
Defense Innovation at Scale
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Innovation on the ‘Back-end’ of defense
Intense Team-Based Paperwork
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We love to learn from others
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Get in touch
Happy to share everything, would love to learn what we could do better
Chris Benson —> [email protected] / linkedin.com/in/christopherbenson7/ Team Org Box —> [email protected] Coming soon: https://www.afwerx.af.mil/frontdoor.html
Companies can apply to the next round: Links and templates live here starting 10 December: https://www.afwerx.af.mil/sbir.html Closes 12 February 8PM ET