The Beall Applied Innovation - Startup Company Alternative Digital Credential (ADC)
Beall Applied Innovation (BAI) – located at the Cove @ UCI – in collaboration with the Division of Continuing Education, now offers the Startup Company alternative digital credentials. The Startup Company credentials is open to the public and recognizes individuals with practical skills related to starting a company, including the startup’s foundation, formation and funding.
To earn a credential, applicants must satisfactorily demonstrate through submitting all required deliverables, their mastery as measured against a quality-focused rubric. A successful applicant can receive up to three badges as he/she build progress on his/her startup.
- Startup Company – Foundation
- Skills Earned: Critical Thinking Skills, Communicating Value Proposition, Market Research, Customer Discovery
- Required Deliverables: Elevator Pitch, Competitive Analysis, and Customer Survey
- Startup Company – Formation
- Skills Earned: Financial Statements, Ratios and Projections, Relationship between Core Business Segments, Product-Market-Fit
- Required Deliverables: Business Model Canvas, Minimum Viable Product, and 3 Years Financial Projection
- Startup Company – Funding
- Skills Earned: Effective Presentation/Communication, Strategic Thinking, Investor Pitching Skills
- Required Deliverables: Executive Summary, Pitch Deck, and Funding of $20K
|Startup Company Foundation||Elevator Pitch||Compose a 100-word written explanation of your Company: your name and title or role, the company’s name, your personal motivation/story, the problem being solved, the product or service solution, your one main competitive advantage, a description of the typical customer, the potential number of customers, your unit price, your Revenue and Net Profit targets for next year.|
|Competitive Analysis||Compose a table comparing at least five (5) of your features/benefits/traits to at least three (3) of your highest priority competitors, identifying where you features/benefits/traits are superior, neutral, or inferior to the competition, with notes explaining/characterizing each ranking.|
|Customer Survey||Develop and secure actionable feedback in at least five (5) areas such as preferred features and benefits, preferred price, etc. from a survey of at least twenty (20) of your typical customers.|
|Startup Company Formation||Business Model Canvas||Create a one-page Business Model Canvas populating each of the nine (9) blocks of the canvas with at least three (3) bullet points appropriate to each block.|
|Minimum Viable Product||Provide a physical and virtual mockup, prototype, or other tool by which you can learn the most important insights from your customer, for the least cost, in the shortest amount of time.|
|Pro Forma Financial Statements||Craft pro forma financial statements covering the next 3 years, including Income Statement, Balance Sheet and Cash Flow Statement.|
|Startup Company Funding||Executive Summary||Compose a one (1) page Executive Summary that briefly explains your company, the problem/need/want being addressed; product or service; customers; suppliers; competition; risks and opportunities; revenue and net profit for the next 3 years; funds sought for what percentage equity; anticipated 5-year Return-on-Investment|
|Business Pitch Deck||Craft a business pitch deck per the requirements of the funding entity.|
|Funding of $20K||Deliver your pitch presentation to an institutional competition, or a government or institutional grant program, securing at least $20,000 USD from the competition/grant entity.|
The Startup Company Alternative Digital Credentials accept applications on quarterly basis. Interested applicants must apply by the cycle deadline for consideration.
- Application Due August 28th, 2020
- Application Due October 30th, 2020
- Application Due February 26th, 2021
FAQ (Source: Division of Continuing Education)
What is an alternative digital credential?
An alternative digital credential, often referred to as a digital badge, is a visual verification of a skill or set of skills you have earned through successful completion of qualifying coursework.
Alternative digital credentials are a great way to share your educational achievements, new competencies and workforce readiness with employers, colleagues, friends and family via a variety of social platforms like LinkedIn, Facebook and Twitter. Alternative digital credentials are rapidly becoming the new standard to help adult learners like you visually highlight your dedication to your own professional development and your commitment to lifelong learning.
Each alternative digital credential also links to a unique website URL that provides a comprehensive description of the learning objectives you have achieved.
What are the benefits of earning an alternative digital credential?
Obtaining an alternative digital credential from University of California, Irvine Division of Continuing Education signifies that you have committed yourself to a quality learning experience from a recognized leader in professional development.
As an alternative digital credential holder, you are providing a quick and convenient way for your employer to confirm your newly acquired skills and knowledge at a glance. Your employer can also publicly recognize your achievements and add further to your credibility by displaying your alternative digital credential on the company’s website.
Alternative digital credentials can also assist you during a job search as they provide a way for prospective employers to discover you based on the specific skills and experience you have earned. This can help move you one step ahead of the competition in the hiring process.
What can I do with a digital badge?
Once you have earned and claimed your digital badge, you can share this accomplishment with your professional and personal network. Display it on your resume, online portfolio, website, LinkedIn profile, or social media pages.