Tumml:

Urban Ventures

Accelerator

We’re rapidly urbanizing: 81% of Americans currently live in and around urban areas

Urban problems are getting worse: Traffic congestion, overstressed schools, etc.

Government can’t tackle these problems on its own: 2012 was the 5th year of declining city revenues

Urbanization is disrupting the way we live and work.

The next generation of Zipcar and Revolution Foods

Building consumer-facing products or services

Tackling urban problems such as health, education, mobility, safety, and resource management

Can scale from city to city

Entrepreneurs can help. But who are they?

Case study: Revolution Foods

Revolutionizing school lunches across the country through healthy school meals and nutrition education

Has grown to 1,000 employees in 7 years of operations, tapping traditional and social investors

Urban impact: over 50 million meals served across 25 cities in mostly low income, urban communities

Industry Education & health

Summary

Healthy school lunch provider and nutritional educator

Founded 2005 in Oakland

Investors

Catamount Ventures, NewSchools Venture Fund, Bay Area Equity

Case study: Zipcar

Reshaping urban transportation by providing a platform for community sharing and sustainable vehicle usage

Successful IPO and impressive market cap before sale to Avis

Urban impact: revitalizing city travel and improving urban navigation in the US, Canada, and the UK

Industry Transportation

Summary Urban car sharing service

Founded 2000 in Cambridge

IPO April 2011 on NASDAQ (ZIP)

Market cap

Acquired by Avis in 2013 for 500M

Case study: Skillshare

Uses social networking to enable people to share talents face-to-face in over 100 cities in the US and abroad

The average class costs around $20 and Skillshare takes a 15 percent cut

Urban impact: the community marketplace for offline classes turns any city into a distributed campus

Industry Education

Summary Education crowdsourcing platform

Founded 2011 in New York

Investors

Union Square Ventures, Spark Capital, Founder Collective, SV Angel

Urban impact entrepreneurship trends

Mobility: Collaborative consumption, alternative vehicle transport. Examples include Uber, Lyft, Alta Bicycle Share.

Waste and resource management: Incentivizing good behavior, supply chain and logistics management. Examples include Recyclebank and Big Belly Solar.

Professional services: Consumer choice and peer-to-peer support. Examples include TaskRabbit and Yelp.

Real estate: Democratization of access. Examples include Storefront, Popularise, Fundrise, Squarefoot, Airbnb.

Education: Peer-to-peer learning, skills training. Examples include SkillShare and Revolution Foods.

Why aren’t we seeing more urban impact entrepreneurs?

33%

15%

11%

35%

Crowdfunding/ grants

Angel investment/ VC

Traditional entrepreneur Urban impact entrepreneur

Have you secured any of the following forms of funding? [% Yes]

Urban entrepreneurs don’t have sufficient access to $.

Tumml conducted a survey of 106 early stage entrepreneurs and found that…

Urban impact entrepreneurs are half as likely as traditional entrepreneurs to receive seed stage funding

Urban impact entrepreneurs are 3 times as likely to seek nontraditional capital, such as grants and crowdfunding

Urban entrepreneurs don’t get the right kind of help.

Tumml conducted a survey of 106 early stage entrepreneurs and found that…

Urban impact entrepreneurs are nearly twice as likely to need access to civic leaders than are traditional entrepreneurs

4 in 5 urban impact entrepreneurs identify networking with other entrepreneurs as being important in their company’s early stages

50%

79%

30%

39%

67%

18%

Physical office space

Networking with other

entrepreneurs

Access to govt/ civic leaders

Traditional entrepreneur Urban impact entrepreneur

How important were the following in your company’s early stage? [% extremely + very important]

That’s where Tumml comes in.

We empower entrepreneurs to solve urban problems.

Space: Physical office space at the HatchToday, a co-working space in downtown San Francisco

Curriculum: Tailored to meet the legal, legislative, and regulatory complexities of the urban space

Mentorship: From government/civic leaders, successful urban impact entrepreneurs, investors

Capital: $20,000 in seed funding, $35,000 of in-kind support (legal services, web/hosting, etc)

Tumml

Mentorship Board

Jay Nath

SF Mayor’s Office

Peter Hirshberg

Re:Imagine Group

Alison Cohen

Alta Bicycle Share

Jose Corona

Inner City Advisors

Molly Turner

Airbnb

Nick Grossman

Union Square Ventures

Nigel Jacob

Boston Mayor’s Office Kirsten Tobey

Revolution Foods

Story Bellows

Philly Mayor’s Office

Tory Patterson

Catamount Ventures

James Geshwiler

CommonAngel

Ron Sims HUD

John Tolva

Chicago Mayor’s Office

Rees

We are the only accelerator dedicated to urban innovation.

Social/non profit accelerators

Government initiatives

Traditional, for-profit accelerators

Urban research and advocacy firms

The curriculum

Developed in conjunction with the Martin Trust Center for MIT Entrepreneurship and the MIT Media Lab

Weekly workshops from experts in law, public and urban policy, financing

Regular one-on-one office hours with a rotation of expert mentors

Informal weekly networking events

Here are the metrics we use to measure success.

Scaling: Tracking each company’s progress moving into new markets by providing them with resources and mentorship to establish a playbook for growth

Jobs created: Providing connections for recruitment, community engagement, and human resource management for small and scaling companies

Impact assessment: Each company will complete a B Lab impact assessment and will track them annually against specific IRIS standards

Here are some statistics about our first pool of applicants.

Less than 10% acceptance rate: 52 applicants for five spots

Gender parity: 48 percent of applicants have a female co-founder

Social equity: 40 percent of applicants have a product application for underserved communities

Three dominant industry trends: Small business services, mobility, and local food

Want to meet the members of Tumml’s first cohort?

A blue collar identity service that makes it easier to find work in the skilled trades online

Work Hands

An easy and efficient way to apply to multiple preschools online and manage the preschool admission process

KidAdmit

A mobile donation platform to support neighbors in need

HandUp

A real-time, on-demand, multi-pickup ridesharing solution, matching cars with multiple riders

Corral Rides

Julie Lein President

Former pollster and political consultant, worked as a Fellow with Revolution Foods. MBA from MIT Sloan

and BA from Stanford.

Clara Brenner CEO

Background in urban real estate and sustainability,

worked as an Associate with WestMill Capital. MBA from MIT Sloan and BA from NYU.

Team Tumml

2012  

•  Conducted qualitative & quantitative research among 125 entrepreneurs •  Built out Mentorship Board of civic and government innovators •  Recruited Tumml Board of Directors for strategy and fundraising •  Developed tailored curriculum alongside the Martin Trust Center for MIT

Entrepreneurship and MIT Media Lab •  Obtained official 501(c)(3) nonprofit status Dec 2012

Q1  2013  

•  Hosted first public-facing event, “Urban Innovation and the Role of Government,” with approx. 135 people in attendance

•  Provided consulting & resource support for early stage urban impact entrepreneurs like Park Please, Urban Kit, and Wigglemap

•  Developed thought leadership around urban impact space with biweekly newsletter, blogging, and urban innovation event series with SPUR

•  Secured funding, including a grant from The Blackstone Charitable Foundation and sponsorship from Accela and Nixon Peabody

Q2-­‐Q4  2013    

•  Opened application process for first cohort from April 1 – 30, 2013 •  First cohort ran June 10 – September 2013 •  Continued public-facing events with collaborators like SPUR and sf.citi •  Opened applications for next cohort

Milestones

Moving forward, Tumml will implement the 486 Strategy.

Recruitment: Growing the base of innovators

Thought Leadership: Building the sector support Infrastructure

Entrepreneur Incentives: Spreading Tumml’s reach

Cohort Support: Expanding Tumml’s programming

Questions?