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CGS Advisors associate Rick Whittemore is mentoring DC I-Corp team from Children’s National Medical Center.

DC Innovation Corps (I-Corps), the new, National Science Foundation-backed program aimed at translating the region’s vibrant research community into successful startups and licensed technologies, kicks off its first cohort October 8 at the George Washington University with 20 teams of inventors and current and aspiring entrepreneurs.

DC I-Corps guides entrepreneurial teams through an intense, seven-week program based upon the Silicon Valley-tested Lean Startup Model, which emphasizes developing a Minimal Viable Product, gathering extensive feedback from potential customers (a minimum of 100), pivoting and iterating. Teams seek a product-market fit for their innovation while developing a repeatable and scalable business model.

A traditional I-Corps team consists of three individuals: an Entrepreneurial Lead (EL), a Principal Investigator (PI), and an Industry Mentor (IM). This three-person team has proven very successful.

The I-Corps Mentor (IM) is an experienced entrepreneur or business executive. The IM is a third-party resource and sounding board. Mentors guide teams forward, help them interpret customer comments, assist the team in contacting relevant people, and keep the team honest about what they are hearing from the marketplace.

Contact Rick Whittemore to learn more about his experience and to discuss how a Lean Startup Model might apply to your company or organization.

Read full press release here: http://www.prnewswire.com/news-releases/nsf-backed-dc-i-corps-kicks-off-first-cohort-with-20-federal-laboratory-university-and-regional-inventors-entrepreneur-teams-226900301.html