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Certified

Emerging
Company
Analyst
You cant analyze companies
of the future with financial metrics
from the last century.
The Certified Emerging Company Analyst designation offers a refreshing host of methodologies and metrics crucial for
assessing and valuing emerging companies.
The Fermi Method of Market Sizing
Failure Mode and Effect Analysis
Target Intensity
Risk Propensity
Black-Scholes
Stoplight Analysis
Risk Exposure Calculations
Value Curves
Improvement Matrix
SERVO Analysis
Technical Review Analysis
Platform Dependence
Business Model Fragility

Diffusion of
Innovations Theory
Bayesian Analysis
Zipfs Law
Liquidation Preferences
Anti-Dilution Provisions
Liability Shifting
Liquidity Analysis
Pipeline Analysis
Dilution Analysis
James-Stein Estimator
Analog/Antilog Analysis
Monte Carlo Method

Become a Certified Emerging Company Analyst

Valuation of Emerging Technologies


Do you know the value of your emerging technologies?
If you dont know what your emerging technologies are worth, you are not
likely to realize the valuations you deserve.
This world-renowned course runs the gamut from providing highly nuanced insights into the primary valuation methodologies to introducing the
most advanced methodologies. Delegates are provided with dozens of
Excel models, yielding them immediate hands-on experience. This seminar is replete with battle stories related by a course leader who has more
than 20 years of experience in valuing emerging technologies.
This seminar provides an in-depth review of more
than 20 valuation methodologies such as:
Decision Trees
With and Without Analysis
Relief from Royalty Method
Excess Earnings Method
Institut Curie Method
Black-Scholes Method
NASAs Technology
Readiness Levels

Binomial Method
Probability Weighted
Expected Return Method
Markov Chains
Bayesian Analysis
Probabalistic Methodologies
Nash Bargaining Solution
Monte Carlo Method

Case studies and exercises relating to the following are


among those applied during the course:
Stock Price Indication Methods
Venture Funding Comparables
Competitive Advantage
Valuation

Royalty Rate Database


Mining
Profit Differential Analysis
Acquisition Comparables

"I definitely enjoyed the training session and took away


loads of great knowledge."

J. Scott Womack, PMP


Deloitte Transactions and Business Analytics LLP
Course Category:
Required

Course Delivery:
Live/Webinar

Tuition: $1,095

Hours: 7.5
609-919-1895 ext. 100
info@bdacademy.com

Note: This course is cross-listed with the Certified Patent Valuation


Analyst designation.

Valuation of Emerging Companies


The emerging company analyst must be able to size addressable markets, scrutinize business models, gauge competitive environments, determine the potential of technologies, understand how capital structure will
impact shareholder returns and assess management.
Whether you are interested in investing in angel, venture or private equity-backed companies; micro- to small-cap public companies; firms traded
on secondary markets; or, businesses raising capital through crowdfunding, this course is designed to provide you with the following actionable
analytical skills:
Emerging Company
Due Diligence

Capital Structure Factors

Addressable Market
Analysis
Pain Point Analysis
Customer Paths,
Engagement, and Attrition
Management Assessment
Cascading Risks
Insider Transactions
Interest Alignment Analysis
Moat Analysis

Convertible Debt
Options Pools
Liquidation Preferences
Tag-Along Rights
Drag-Along Rights
Redemption Rights
Anti-Dilution Issues
Vesting Issues - Cliffs,
Acceleration, and Triggers
Cashless Exercise

Valuation Methodologies

Financial Analysis

Cost Method
Market Method
Cash Equivalent
Adjustments
Income Method
Breaking Costs of Capital
Analysis
Conventional Venture
Capital Method
First Chicago Method
Terminal Value
Gordon Growth

Quality of Revenue Analysis


Revenue at Risk
Sales Cycle Analysis
Common Size Analysis
Customer Acquisition Costs
Lifetime Customer Value
Contingent Liabilities
Excess Cash Adjustments
Viability Ratios
Discount for Lack of Control
Discount for Lack of Marketability
Capital Efficiency Ratios

Course Category:
Required

Course Delivery:
Live/Webinar

Tuition: $1,495

Hours: 7.5
609-919-1895 ext. 100
www.certifiedeca.com

Note: The Valuation of Emerging Companies and Business Model Validation


courses are offered as one combined course that runs for 1.5 days.

Business Model Validation


While the analysis of numbers is important when determining the merits
of investing in emerging companies, financial performance is largely a
function of the integrity of underlying business models. There is great peril
in neglecting to review the soundness of business models.
If you are not familiar with the following business model pitfalls, you really
should enroll in the Business Model Validation course:
Capacity Head-Fakes
Adoption Chain Risk
Technology Overfitting
Pricing Straightjackets
Platform Dependence
Business Model Fragility
Market Spoilage
The Free Lunch Paradigm

Impeded Migration Paths


Deals with the Devil
One Hit Wonders
Artificial Aircover
Distribution of Disappointment
Demand Head-Fakes
Optionality
Leverage

The following are among the issues discussed


during this unique course:
How can the Icarus Paradox destroy a firm's revenue
projections?
Why must you avoid anything resembling the Las Vegas
business model?
How can you assess a business's compressibility?
Where do dangers lie in terms of confusing the degree of
competition with market potential?
What are some limitations to monetizing a company's assets?
What is the significance of a pivot schedule in assessing
business models?
How much precedential value should be attached to analogs and
antilogs?
How can you test business model portability?
How can you ascertain the symmetry between a business model
and the nature of the stakeholders?
Are you at risk of committing irrational extrapolation?
How can you detect supply chain risks?

Course Category:
Required

Course Delivery:
Live/Webinar

Tuition: $645

Hours: 3.5
609-919-1895 ext. 100
info@bdacademy.com

Note: The Valuation of Emerging Companies and Business Model Validation


courses are offered as one combined course that runs for 1.5 days.

Special Offer
All Certified Emerging Company Analyst candidates receive a complimentary copy of Business Model Validation, which was written by the
developer of the CECA designation.
"This book is valuable for
investors, entrepreneurs,
and anyone interested in
understanding the intricacies of a wide array of
businesses."

Daniel Shvartsman,

Managing Editor,
Seeking Alpha

"Masterful."

David Schwartz, CEO & Publisher, Technology Transfer Tactics


Business Model Validation thoroughly dissects business models ranging
from industries as diverse as textbook publishers to online pornography
purveyors and from cement producers to death care operators. This
unique book reveals groundbreaking analysis into emerging business
models such as those of:
On-Demand Taxis
Operators
Bitcoin
Drones
Crowdfunding
Marijuana
Dispensaries
Music Streaming

Electronic Cigarettes
Freemium Businesses
Home Sharing
Companies
Cloud Storage
3-D Printers
Massive Open Online
Course Operators

Below are select testimonials for Business Model Validation:


"Brilliant. No one tackles the subject of evaluating business
models with as much rigor as David Wanetick in Business Model
Validation."
Steven Dresner, Founder & CEO, Dealflow.com
"Business Model Validation is ideal for anyone that wants to
sharpen their analytical skills. Investors at all levels will learn
powerful lessons from these pages."

Jeffrey Kadlic, Evolution Capital Partners

Requirements for Earning Designation


To earn the Certified Emerging Company Analyst designation, you must
complete the required courses below:
Valuation of Emerging Technologies
Valuation of Emerging Companies
409A Valuation Analysis
Emerging Company Due Diligence
Mistakes That Startups Make
In addition to the core required courses above, Certified Emerging Company Analyst candidates must complete an additional 7.5 credits worth
of courses. These credits may be chosen from 27 elective courses which
are delivered via archived webinar and include:
Series A Venture Capital Investments
Business Valuation
Assessing Key Person Risks
Valuing Companies in Rapidly Changing Conditions
Statistical Issues in Valuation
Financial Modeling and Projections
Allocating Value Across Equity Classes
Apportioning Intangible Assets
Valuing Covenants Not to Compete
Valuing Customer Relationships
Forecasting with Regression and Monte Carlo Analysis
How Corporate Structure Affects Valuation
Negotiating Capital Raises
Negotiating Convertible Note Raises
Repairing the Ownership Structure of Emerging Companies
For complete course descriptions and additional information about the
requirements needed to become a Certified Emerging Company Analyst,
please visit us at www.certifiedeca.com.

Special Offer
Begin pursuing the Certified Emerging Company Analyst designation
by June 30, 2016 and receive the more than 30 required and elective
courses associated with the CECA curriculum. You can listen to the
remaining electives at your leisure. You can retain the entire ensemble of courses for future reference.
The total tuition for the entire CECA curriculum is regularly $11,330,
but if you enroll by June 30, 2016, you pay just $3,375.
609-919-1895 ext. 100
info@bdacademy.com

609-919-1895 ext. 100


info@cpva.info

Self-Study Options Are Always Available

Course Availability
Who Should Pursue the Certified Emerging
Company Analyst Designation?
Institutional Investors
High Net Worth Investors
Private Equity Investors
Hedge Fund Managers
Venture Capitalists
Business Development
Professionals
Licensing Professionals
Technology Transfer Professionals

Mergers & Acquisitions


Professionals
Corporate Strategists
Transactional Advisors such as
Attorneys and Accountants
Investment Bankers
Investor Relations
Professionals
Finance Professionals

CECA ON-SITE
Does your organization have six or more professionals who would benefit from Certified Emerging Company Analyst training? If so, why not
run CECA training from your office? Benefits include:
Substantial savings on tuition
Elimination of time and costs related to travel
Open discussion of issues of importance to your organization as
attendance is restricted
Some customization of content
Ability to video in remote colleagues and/or archive training
The courses offered on-site are Valuation of Emerging Technologies
and Valuation of Emerging Companies.
Course Availability
The following are upcoming sessions of the Valuation of Emerging
Technologies course:
June 15, 2016 Chicago, IL
July 18, 2016 Eindhoven, Netherlands
August 2, 2016 Webinar LIVE
August 17, 2016 Tel Aviv, Israel
September 12, 2016 San Francisco, CA
October 10, 2016 Shanghai, China
October 23, 2016 San Antonio, TX
November 28, 2016 Thailand
The following are upcoming sessions of the Valuation of Emerging
Companies course:
July 27 - 28, 2016 Silicon Valley, CA
November 15 - 16, 2016 San Diego, CA

609-919-1895
ext.100
100
609-919-1895 ext.
www.certifiedeca.com
info@cpva.info

Venture Capital Funds


Venture Debt Funds
Private Equity Firms
Investment Banks
Hedge Funds
Technology Transfer Offices

Mutual Fund Portfolio Managers


Pension Fund Portfolio Managers
Sovereign Fund Portfolio Managers
Family Offices
Advisors to Angel Investors
Incubators

The following are among those likely to call upon the


services of Certified Emerging Company Analysts:

Determine how the Diffusions of Innovation Theory


guides a companys revenue trajectory.
Assess the value of a companys regulatory approvals.
Gauge how an early-stage companys legal structure
affects its valuation.
Calculate a companys synergistic value.
Assess the quality and contributions of emerging company
management teams.
Ascertain the dilutive impact of convertible debt and options
grants on earnings-per-share.
Learn how to calendarize results so that comparable analysis
can be conducted.

Key Learnings from the Certified Emerging


Company Analyst Training:

To Register:
info@bdacademy.com
609-919-1895 ext. 100

Certified Emerging
Company Analyst
4390 Route 1, Suite 214
Princeton, NJ, 08540
PRSRT STD
U.S. Postage
PAID
Cedar Rapids, IA
Permit No. 860

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