Residency Business Terms Agreement
If your start-up has been selected to reside in the VSGI, you and your company must agree to the following milestones. Failure to reach the following milestones may result in the termination of your residency. Prior to move-in, every company should have an IRS and State Tax ID, as well as proof of corporate insurance (see Residency MOU).
Q1 Milestones (starting first day of residency):
- Business Plan Development Complete (including business model, market analysis, competitive analysis, pricing models, marketing strategy, and client acquisition plan).
- Pro Forma Financial Projections and Assumptions Complete
- Alpha Stage of Product or Services Complete
- Partnership Acquisition Plan Complete
- Beta Stage of Product or Services Complete
- Marketing Collateral and Media Management Plan Complete
- Management Plan Complete
- Sales Plan Complete
- Draft IP (Patents, Copyrights, Trademarks) Complete
- Secure IP
- Secure Start-Up Funding (no determined amount)
- Secure Bank, Accountants, and Legal Council
- Products or Services QA Testing
- Launch Marketing and Media Campaigns
- Establish Back-end Product or Services and Company Support
- Launch Product(s) or Services
- Established Proof of Concept Revenue
- Established Partnership Agreements
- Establish Back-end Product or Services Support
VSGI Mission: To support translational applied-research in the areas of Simulation, Modeling, and Game Design, rapid prototype development, high-value knowledge job creation, and regional economic development through start-up incubation, spin out company formation, licensing, and commercialization.