Texas Venture Labs Practicum I & II
Jon Brumley Texas Venture Labs (TVL) is an accelerator that connects local startup companies with talented and entrepreneurial graduate students from the MBA, Law, Engineering, Pharmacy and Natural Sciences programs at the University of Texas. These students participate in semester-long consulting projects solving important problems alongside the company’s founders. Check out Where You Fit In and Application Process below for more information.
Examples of previous consulting projects:
- Market validation: Worked with life sciences firm to research three potential applications for their product, ultimately determining that one was viable and two were not.
- Business model assessment: Examined the marketability of a social media platform and worked with them to shift to a data-based business model.
- Financial analysis: Helped a custom music instrument company get their statements in order and analyze the information to validate their pricing model.
- Funding guidance: Assisted a grocery delivery service in identifying their 5-year growth potential based on different funding options (VC, Angel, Loans, Bootstrap).
- Competitive analysis: Looked into competitors and substitutes for a software company and found that they did not provide enough differentiation to gain funding.
What We Do
Texas Venture Labs students provide research and consulting to local startups on their most pressing challenges in order to:
- Accelerate startups in taking their products to market and making a funding decision
- Give graduate students real-world startup experience
Where You Fit In
If admitted to the program, you'll join a team of five or six students working closely with two startup companies to make an immediate and direct impact on the companies’ development.
You will learn about market validation, competitive analysis, financial analysis, business model assessment, and funding guidance from professors and entrepreneurs, and then apply these skills on projects for the companies.
Previous projects have included identifying and sizing new markets for a fiber-optic sensing platform, and developing a model for marketing costs incurred by a new consumer packaged goods company.
The application for the Texas Venture Labs Spring 2015 class is now closed. If you are an incoming or current graduate student interested in taking our class in Fall 2015, you can sign up here for an alert when the application opens.
Information sessions will cover the details of the Practicum as well as the application process. It is highly suggested that you plan on attending a session prior to applying. You can watch a webcast of the information session here.
The TVL application process includes multiple steps and all must be completed by the listed due date for eligibility:
Submission of resume and cover letter - September 19, 2014
Analysis of a business plan provided by TVL - September 24, 2014
Interview with group of applicants - September 29 - October 10, 2014
Presentation of group business plan recommendations - October 15, 2014
Peer evaluations of your presentation group - October 16, 2014
Decisions Announced - October 17, 2014
Please review a recent syllabus or email us. Visit our office hours Wednesdays at 12:30 p.m. in the AT&T Conference Center One Twenty 5 Cafe.