Before 1:30 — Setup (arrive 1:10)

✓

Pre-flight — everything on this card before students arrive

app: your presenter URL (…?presenter) · Chrome · F for fullscreen

Open the presenter URL → brand-click → Reset the day. Click Popout → drag notes window to your laptop screen. Share ONLY the main window.
Post NOW to ALICE/chat: FS Part 2 tab guide + Fundraising Planner PDF. Do NOT post the app URL — it releases at the ch.15 sprint via QR.
Verify ch.3 slider defaults: CAC ₱160 · growth 15% · cash ₱500,000 · opex ₱43,000. The whole first hour quotes these.
Co-host briefed, four jobs: chat help desk (ch.5, ch.9) · breakouts (ch.15–16) · reads chat claims aloud (ch.6) · clicks remote tallies (ch.2, ch.17).
On tables: printed Planner canvases + A3 storyboard canvases + markers. Music queued, speaker tested.
Print: quick card + the per-team cheat sheet (back of this doc) + blank tally paper.
Break-time job later: skim S5 exit tickets — they open S6 and seed the coaching list.

TEACH Posture for the day: warm to people, merciless to numbers — "your startup is dying" is about a model, never a team. The founder-toolkit half (cap tables, SAFEs, vesting) is a GIFT beyond the rubric; teach it like one. Say the arc line at least three times today. App state auto-saves (localStorage): a refresh restores everything; brand-reset is the only wipe.

SESSION 5 — Startup Finance II: Burn, Runway & Fundraising 101 (1:30–3:00)

S5 · 1:30–1:37 · Opening + Hook: The Death Clock BoardApp ch.1–2 · the raise-timing hook FIRST, then blind guesses on the board · you lock the board with a deliberate press

Open ch.1 — the arc and the deliverables

~1 min

Chapter 1 (title): one breath on the agenda. Point at the deliverables line: "FS Part 2 + Fundraising Planner — TEAM, due 3:00 PM, via ALICE."

SAY "July 11 you guessed your CAC. July 21 your funnel derived it. Today that number decides how long you live and how much you raise. August 8 you defend the whole machine. That's the whole day — let's go."

TEACH Deliverable discipline starts in minute one: both artifacts are TEAM, due 3:00, venture name only — repeat at every work block. This is the first of three arc-line deliveries today.

Ch.2 — the hook: when does Kape Kalye start raising?

~1.5 min · they commit a month number in chat BEFORE the reveal

Chapter 2. Read the Kape Kalye card (fictional): cash ₱800,000, net burn ₱95,000/month. The division is already on the card — 8.4 months. Do not dwell on it; it is the setup, not the lesson.
Ask the real question: "what month do they start raising?" Everyone posts a month number in chat. Wait for commitments — most will say month 6 or 7.
Then press Reveal ▸ when they actually start — month 2.4.

SAY "Meet Kape Kalye. Eight hundred thousand in the bank, burning ninety-five a month. Eight-point-four months to zero — one division, that's all a death date is. Here's the question that actually matters: what month do they start raising? Post a number in chat. Commit… I'm seeing sixes and sevens. Reasonable. Wrong. A raise takes four to six months from first meeting to money in the bank — so you count backwards from zero, not forwards from today. Eight-point-four minus six is month two-point-four. They start now. Wait until the account looks thin and the money arrives at a funeral."

TEACH The arithmetic is trivial; the TIMING is what nobody has internalised. A death date is only useful if you subtract the length of a raise from it — that "minus six" is the habit being installed, and it returns in ch.3 press ⑨ and again in the Fundraising Planner. Running out of cash is the most common way a startup dies, and the only cause of death you can see coming with one division. Kape Kalye is fictional — never attach it to a real team.

THE BOARD — collect eleven blind guesses

~3 min · type each guess onto its team card · "?" is allowed and honest

Point at the Death Clock Board — eleven team cards. Each team posts in chat: "assume ₱500,000 in the bank — how many months does OUR startup survive on current assumptions?" — a number, or ? for "no idea". Say the ₱500,000 out loud; it is what makes the checkpoint delta honest.
Type each guess onto its card as it lands (co-host reads chat aloud). Then press Start the clocks ▸, then press 🔒 Lock the board — deliberately, in front of them. (There is an Unlock if a late guess lands.)
Note roughly how many said "?" — you call it back at the Work-Time checkpoint.

SAY "Now the same question, about YOU. No files, no formulas — and everyone assumes the same five hundred thousand in the bank, so we're comparing like with like. Gut number in chat: how many months does your startup survive? A number, or a question mark if you honestly don't know. It goes on your card either way… I'm locking the board — press it — so nobody edits their guess after the reveal. In about half an hour, your card gets the COMPUTED answer typed next to your guess — in front of everyone. The gap between the two numbers is today's lesson."

TEACH "?" dominating is the pedagogy, not a failure — the board makes the not-knowing VISIBLE and personal, and the checkpoint pays it off with delta badges. Keep it warm: the board is a confession booth, not a trap. The clocks ticking down while you talk is deliberate ambient pressure.

ASK (After the guesses land) "Why doesn't anyone know their number?" → Expected honest answer: "we never computed it." Respond: "Right — not a character flaw, a curriculum gap. Nobody taught you. That ends in the next fifteen minutes."

S5 · 1:37–1:50 · The Burn & Runway Simulator: the milk-tea shop learns its date of death App ch.3 · the S5 centerpiece · the math builds ON SCREEN, nine presses of one button · then the two-act play · one reset

Open the chapter — frame the continuity

~30 sec · ch.3 opens with every value hidden — the presses fill it in

Chapter 3. The pinned 🧋 card (top right) shows every constant — point at it once; it stays through ch.5. One button drives the whole build: press it nine times, cold-calling the guess BEFORE each press. Never reveal first.

SAY "Same shop as July 11 — the pinned card on the right has every number we know. One new question: what's the date on the death certificate? We build the answer on screen, one press at a time."

TEACH Same shop as July 11, same numbers, one new question: WHEN does it die? Everything they learned on July 11 is about to get a consequence. Don't teach anything yet — just set the stakes.

Presses ①–③ — the OUT blocks stack up (gross burn ₱81,700)

~1.5 min · three presses, a guess before each

Cold-call "what leaves the bank each month?" — then press Reveal ▸ ingredients & cups (COGS), ▸ rent & people (fixed opex), ▸ marketing. The three blocks STACK on screen; the ₱81,700 total appears above them.

SAY "Cash out in month one: twenty-six-seven of ingredients and cups, forty-three thousand of rent and people, twelve thousand of marketing — eighty-one thousand seven hundred pesos walks out the door. That's GROSS burn."

TEACH GROSS BURN = total cash out per month: ₱26,700 COGS + ₱43,000 fixed opex + ₱12,000 marketing = ₱81,700. It's the ops-planning number.

Presses ④ + ⑤ — money IN, then NET BURN (the July 11 callback)

~1 min · pause on the callback

Press Reveal ▸ the money coming IN — the green bar rises beside the OUT stack. Then Reveal ▸ NET BURN — the subtraction line appears under the chart.
Pause one beat on ₱45,700 — let the recognition land before you speak.

SAY "Cash in: thirty-six thousand. Net burn: forty-five-seven. You've met that number before — it's the month-one loss from July 11. It never went away. Today it gets a consequence."

TEACH NET BURN = out minus in: ₱81,700 − ₱36,000 revenue = ₱45,700 — the very month-1 loss they met on July 11. Continuity IS the point: the number never went away; today it gets a consequence. Net burn is the number investors ask for.

Press ⑥ — the war chest (₱500,000, standardized)

~30 sec · say the standardization note ONCE

Press Reveal ▸ the war chest — the cash slider unmasks.

SAY "Everyone models five hundred thousand today — so your death dates are comparable. Your real war chest goes in the comment cell; the lesson is the same either way."

TEACH Cash is standardized at ₱500,000 for every team today (Artie's decision) so scenarios compare across the cohort. Real committed capital goes in the FS comment cell.

Press ⑦ — static runway: 10.9 months, death mid-June 2027

~1.5 min · let it land as FACT before you subvert it

ASK FIRST "₱500k in the bank, ₱45.7k monthly net burn — runway? And when must they start fundraising?" → 10.9 months; start by month ~5 (10.9 − 6). Make someone do the subtraction aloud — the "minus six" is the habit you're installing.

Press Reveal ▸ static runway. Let the death date sit as fact — the subversion comes next press.

SAY "Five hundred thousand in the bank. Forty-five-seven a month. Do the division — ten-point-nine months. Death: mid-June 2027. Write that on the shop's tombstone… or don't, because that number is about to turn out to be wrong in the most instructive way possible."

TEACH RUNWAY = cash ÷ net burn: 500,000 ÷ 45,700 ≈ 10.9 months — death mid-June 2027. This is the naive number; it assumes this month's burn repeats forever.

Press ⑧ — THE BARS: month-by-month cash, and DEFAULT ALIVE

~2 min · the applause moment — two full beats on the verdict

Press Reveal ▸ cash, month by month — 24 labeled bars draw, the AMBER bar marks the bottom of the dip (₱196k, M13), the verdict card flips to DEFAULT ALIVE. Two full beats of silence.

SAY "The static math assumes this month repeats forever. But look at the bars — the burn SHRINKS every month, because every month more thirty-one-peso contributions come home. Watch the bars fall… fall… and there — the amber bar, month thirteen, about a hundred ninety-six thousand — the lowest this shop will ever hold. And then the bars turn AROUND… That is called DEFAULT ALIVE — Paul Graham's question: on your current trajectory, do you reach profitability before the money runs out? It is the single most important thing to know about your startup, and until today none of you knew yours."

TEACH The static number is usefully wrong: this machine's burn SHRINKS as contribution grows (4.7x LTV:CAC, 6-week payback). The bars — ₱500k + cumulative operating profit — bottom at ₱196,000 around month 13 and never crosses zero; profit turns positive ~month 14. DEFAULT ALIVE (Graham). Static = the panic gauge; dynamic = the truth.

ASK "So which number is true — 10.9 months or 'alive'?" → Both. Static is what you check monthly; dynamic is what you plan on — IF you believe your growth and CAC. Follow-up: "and what makes those bars a lie? (Their [G] tags.) Which is why the next chapter exists."

Press ⑨ — when to start raising (sliders go live)

~1 min

Press Reveal ▸ when to start raising — the raise-by card fills, all four sliders unmask, and the button flips to "Build done — sliders are live".

SAY "Fundraising takes four to six months. Start raising with five months of runway and you are already dead — you just haven't noticed yet. Graham calls it the fatal pinch… And if you're default alive? Then raising is a CHOICE. Investors can smell the difference from across the room."

TEACH Fundraising takes 4–6 months. Rule: start by death date − 6 months — or be default alive, in which case raising becomes a CHOICE (raise to go faster, not to survive). That reframe is the difference between a strong ask and a desperate one.

THE PLAY, Act 1 — CAC to ₱500: alive by a coin flip

~1.5 min · badge stays GREEN — that's the surprise

Drag CAC → ₱500. Pause on the near-miss trough. Take answers from the room — wait for "grow faster."

SAY "This is the CAC half of you had before the funnel — before July 21 made you derive it. Look at the badge — still green. It SURVIVES. Barely: the cushion bottoms out at twenty-three thousand pesos. One bad month from the abyss — alive by a coin flip. Now — you're this founder. You're terrified. What does every terrified founder do?"

TEACH The CAC they had before the funnel — ₱160 → ₱500, a ×3.1 move. Month-1 net burn jumps to ₱71,200 — yet the shop SURVIVES: trough ≈ ₱23,000 at month 17, profit from month 18. One bad month from the abyss. Then bait the trap: ask what a terrified founder does. Someone will say it: grow faster.

THE PLAY, Act 2 — growth to 30%: DEAD, month 13

~1.5 min · the doom-multiplier line, verbatim

Drag growth → 30% — verdict flips RED, ✝ DEAD M13 appears over the bars.

SAY "Faster growth. DEAD. Month thirteen. Why? Because at a hundred and sixty pesos a customer pays you back in about six weeks — growth is nearly free, so more customers means more cash sooner. At five hundred, you finance every customer for four months before you see the money back. Every new customer is now a hole you dig, and growing faster just digs it faster… The accelerator was the murder weapon. Your derived CAC isn't homework — it's your life expectancy."

TEACH At ₱500 CAC, faster growth kills: DEFAULT DEAD, month 13. Speak the mechanism BEFORE the line: at 6-week payback growth prints money; at 4-month payback it digs the grave faster. Only then: the accelerator was the murder weapon. July 11's Act 2, now with a body count.

ASK "Why does growth make it WORSE at ₱500 CAC when it made it BETTER at ₱160 on July 11?" → Payback. At ₱160 a customer repays in ~6 weeks — growth is nearly free. At ₱500 you finance every customer for four months. Same seesaw as July 11, now measured in months of life.

RESET the sliders — then bridge

~20 sec · do not skip: sliders persist into later chapters

⚠ DRAG BACK: CAC → ₱160 · growth → 15%. Every number you quote later assumes the defaults.

Reset both sliders, then arrow to ch.4 (the Stress Test).

SAY "Back to honest numbers. Next: which of YOUR assumptions kills you fastest — the machine that finds it."

S5 · 1:50–1:53 · The Stress Test: three punches, find your killerApp ch.4 · 3 minutes, demo only · cold-call the prediction FIRST · teams replicate in the Stress Test tab

Cold-call the prediction, then throw the punches — ONE at a time

~1.5 min · most will predict CAC; that wrongness is the setup

Chapter 4. Base case is on screen (green bars). Cold-call: "three punches are coming — growth halves, CAC ×1.5, margin −20%. Which one kills the shop?" Collect 3–4 predictions.
Press PUNCH 1 — growth halves: bars sag, verdict 💀 DIES month 20. Then PUNCH 2 — customers cost 1.5×: ✅ survives, lowest ₱164k. Then PUNCH 3 — every cup earns 20% less: ✅ survives, lowest ₱124k.

SAY "Three punches, one at a time, everything else held at base. Punch one — the world halves your growth… DEAD, month twenty. Punch two — customers cost fifty percent more… it LIVES, cushion thins to one-sixty-four. Punch three — every cup earns twenty percent less… lives again, one-twenty-four at the bottom. One killer, two bruises."

TEACH The stress test is the honesty system weaponized: each punch is a [G]-tagged assumption turning hostile, ONE at a time so the damage is attributable. The punch buttons mirror the Stress Test tab exactly — same shocks, same verdict lines, their numbers.

The killer box — GROWTH, and the meta-lesson

~1.5 min · 3-minute chapter cap, hard — it's a method demo

With all three punches thrown, the KILLER ASSUMPTION box appears: GROWTH, punch 1 outlined red. Point at it, deliver the meta-lesson, and MOVE — the students do the real work in their own file next.

SAY "The killer is GROWTH. Surprised? Ten minutes ago CAC nearly murdered this shop — but that was CAC at three times; this punch is one-point-five. The killer depends on your model AND on how hard the world can plausibly hit each number. Which is exactly why you compute YOURS instead of borrowing mine. Your Stress Test tab throws these same three punches at YOUR numbers and names your killer. Find it before the panel does — because on August 8, a panelist WILL go looking."

TEACH Expect surprise (the room just watched ₱500 CAC nearly kill) — the shock-size point IS the lesson. Each team's killer becomes their S5 exit ticket, their defense downside talking-point, and row 1 of their risk register.

S5 · 1:53–2:13 · WORK TIME 1: FS Part 2 build + the checkpoint boardApp ch.5 · 20:00 timer · music on · circulate with the cheat sheet · type REAL numbers onto the board as they land

Launch the build

timer FIRST, then talk — the first minute is setup anyway

Chapter 5: start the 20:00 timer FIRST (JUMBO on click, music on), then walk the on-screen checklist while files open.

SAY "Twenty minutes. Team file — the one with the DERIVED CAC from your funnel homework. Tab 4: five hundred thousand goes in, your death date comes out. Stress Test tab: your three punches are pre-loaded — read the three verdicts and your killer. When you have a base-case runway, post it in chat — it goes on the board, next to your guess. And if your CAC is still the July 11 guess — your death date is a guess too, and today will be uncomfortable in a useful way."

TEACH Checklist: ① open team FS file ② Tab 4: ₱500,000 in → burn, runway, flag out ③ Stress Test tab: three verdicts → killer ④ post base-case runway in chat. The fiction line goes to the ROOM, not at a team — you promised it in the pre-class message.

Circulate — killer-assumption column, hardest cases first

90 seconds per table · remote help desk via co-host

Cheat-sheet killer column in hand. The challenge at every table: "which punch did the Stress Test tab name — and do you BELIEVE it, or did a broken link name it for you?"
Remote: co-host triages chat, escalates the two hardest to you.

TEACH Targets: Apolaki install margin after financing · Bin-Go pilot→paid · BeVerified security-review cycle · Link-OD utilization % · Bughaw unit cost vs plastic · Tindahon seller activation · Anakloud clinic cycle · GRACE trust→first use · VaxLink provider onboarding · ArugaBai free→paid % · Hope-N-Cope sign-off months.

ASK "Our flag says DEFAULT DEAD — are we failing?" → No — most real seed-stage startups are default dead; that's what fundraising is for. Failing is not KNOWING. Flag + raise-by date + credible ask = a STRONG defense position. (FAQ #1 — see the bank.)
"Our Tab 4 shows an error." → It references Tabs 1–2 — Part 1 has a hole (usually a hand-typed CAC over a formula). Fix the source, not the symptom. The continuity guard is doing its job.

Minute-12 checkpoint — GUESSES MEET REALITY on the board

music down ~90 seconds · type each computed number as it lands · the delta badges do the talking

Music down. The checkpoint board is on the ch.5 screen — eleven cards, each holding the blind guess from 1:35. As computed runways land in chat, type each into its team card: the delta badge appears next to the guess automatically.
Read two or three of the biggest gaps out loud — kindly. Music up.

SAY "Look at the board. Half an hour ago most of these cards said question mark. Now every card has a real number next to the guess — and the badges show the gap. Some of you just found four-month runways — do not panic, institutional models bleed early by design, and that's exactly what the fundraising half of today is FOR. Not knowing was the only failing state, and it just ended."

TEACH Expect real spread: 4-month runways (institutional, late revenue) through default-alive. Both are fine.

Hard stop

chime = hands off

Timer chimes: hands off, eyes front. Unfinished teams finish Tabs 4–5 (Burn + Stress Test) inside Work Time 2 — the Planner needs Tab 4's number anyway; that's the dependency, honor it.

S5 · 2:13–2:22 · The Stage Ladder (evidence game) + The Pathway MapApp ch.6–7 · eight evidence cards argued onto rungs, criteria HIDDEN · bands in USD · self-placement lives in ch.7 now

Ch.6 — the EVIDENCE GAME: eight cards, argued onto rungs

~4 min, brisk — 20 seconds a card · the room argues, you drag · criteria stay hidden until the reveal

Eight evidence cards sit above the ladder: 500-person waitlist · signed MOU · 2 paying clinics · ₱30k revenue in 3 weeks · 4.8★ rating · LOI · signed pilot with success criteria · 1,000 downloads. For each: the room shouts the rung, you drag it there — argue the contested ones (the MOU and the waitlist always are).
Press Reveal ▸ the criteria + what each card really buys — one press, two payloads: each rung's evidence criteria appear AND the answer key with one-line reasons. Score the room's placements out loud.
Do NOT do team self-placement here — it moved to ch.7, onto the pathway map, where the chips do more work.

TEACH Ladder, in US dollars — the currency every pitch is denominated in: VALIDATION under $50k (grants / FFF) · PRE-SEED $50k–$250k · SEED $250k–$1.5M+. The criteria are hidden on purpose so the room argues from instinct first. PH context on the screen: $120M of startup equity funding across all of 2025 and zero late-stage rounds — investors here have moved to governance, unit economics, and a credible path to profit. What moves you up is EVIDENCE, not confidence. Honest read (cheat sheet col 2): everyone is validation-to-pre-seed. Correction must be KIND and PUBLIC: the claim is wrong, the team is fine.

ASK (To an inflator, kindly) "You wrote pre-seed with traction. How many PAYING customers?" → Usually "well, pilots…" — respond: "Pilots are validation evidence, and good validation evidence beats fake traction every time. Claim validation, show the pilot, name the milestone that makes it pre-seed. That sentence gets funded; the inflated one doesn't."

Reveal ▸ the honest map — the kind correction, delivered

~2 min · as confirmation of what the room concluded, not a verdict

Press Reveal ▸ the honest map only after the criteria reveal has been read and the contested cards have been argued.

SAY "You just sorted eight pieces of evidence and argued about half of them — good. Now hear where that puts you. What moves you up is not confidence — it's evidence. And here is the correction I promised would be kind and public: based on everything I've read from this cohort, every team in this room is validation to pre-seed. That is not an insult. That is a six-week-old venture being six weeks old. The insult is claiming seed-stage language with validation-stage evidence — because a real investor catches it in ninety seconds, and once they catch one inflated claim, they stop believing your true ones. Stage inflation is the number-one credibility killer. Claim the rung your evidence can hold, then show the milestone that moves you up one."

TEACH Pain Points doc, worth quoting: founders "overstate readiness or undersell progress." Some teams UNDERsell too — move those chips up with the same public kindness.

Ch.7 — the pathway map, then they place themselves

~3 min · six cards, no team pre-placed · 60-second self-placement at the end

No team is pre-placed on any card — deliberately. Click the Grants card; walk it ~90 seconds using the "you belong here if…" lines, which are the actual teaching content. Then click one more card that fits a chunk of the room (Angels or Impact/Bootstrap) and read its qualifiers.
Then: "Place yourselves — 60 seconds." Each team drags its chip onto the pathway it thinks is its natural first money. Nobody is assigned. Let a chip land somewhere you disagree with and say so out loud — "argue with me after" is on the screen for a reason.

SAY "Not every venture should raise VC — and in this room, that's not consolation-prize talk, it's arithmetic. Half of you have a right first money that's a grant or a pilot contract, not equity. Look at the grants card. DOST-TAPI's Young Entrepreneurs programme writes two hundred fifty thousand pesos to college students, three hundred fifty thousand to young professionals — equity-free. Notice the scale of that: it is two to four hundred thousand pesos, not millions. If your plan needs millions in month one, this is the wrong door and you should know that today. But if your next milestone costs three hundred thousand and you can survive a reporting burden and a disbursement lag, that money costs you zero percent of your company — and that is a straighter line than any angel cheque. Read the 'you belong here if' lines on every card before you drag your chip. They are the whole point."

TEACH Six cards, each with 2–3 "you belong here if…" qualifiers: Grants (DOST-TAPI YET ₱250,000 students / ₱350,000 young professionals, equity-free) · Incubators / accelerators (QBO · IdeaSpace ~$20k–$50k for a small equity slice · Villgro PH) · Angels (Manila Angel Investors Network and operator-angels) · Strategic / CVC (Kickstart, ADB Ventures) · Seed VC (Kaya, Foxmont, Gobi-Core — most of this cohort is too early; say so kindly) · Impact / foundations · Bootstrap (a signed contract IS funding). Only the grants and accelerator cards carry figures — the others are named without check sizes on purpose, because a number I cannot source is a number a panel can break.

ASK "Why give up equity for an accelerator's twenty-to-fifty thousand dollars? That's expensive money." → Sometimes it is! The cheque isn't the product — the structure, the mentors, the network and the demo-day signal are. Rule of thumb: accelerators for doors, grants for runway, angels for believers. Check who their last three alumni actually raised from — that is the only due diligence that matters. And model the dilution before you say yes: that is literally the next chapter.

S5 · 2:22–2:38 · Cap Table TheaterApp ch.8 · figures in USD · predict-then-reveal ×5, vesting is its own beat · sliders stay locked until the story is done

Frame the gift — the banner stays up all chapter

~1 min

Chapter 8. The banner is visible throughout: "None of this is on the Aug 8 rubric. All of it is on the exam that starts the day after Demo Day."

SAY "Nothing in this chapter is on the August 8 rubric. Watch anyway — because this is the exam that starts the day AFTER Demo Day, and the alumni who sat in those chairs before you say this is the material they needed and never got."

TEACH The Pain Points doc speaking: the SAFE/valuation/cap-table hole is what alumni say hurt most after MIB. Teach it with gift energy, not syllabus energy.

Step 1 reveal — founding: 4 × 25%

~2 min · plant the vesting seed, hold the answer

Prediction prompt in chat BEFORE the reveal (never skip predictions — they're the whole mechanic). The COMING NEXT panel under the chart is already showing the event, its parameters and the question — read it aloud, that IS the prompt. Press Reveal ▸ Step 1.

SAY "Four founders, twenty-five each. Fair? … What's missing? Hold your answer — it's the punchline of the whole chapter."

ASK Someone may answer "what if someone leaves?" → Gold. Name them, participation credit, "hold that thought — we have a whole beat for it at the end." If nobody says it, don't force it; step 5 lands harder cold.

Step 2 reveal — the SAFE ($250k on a $1M post-money cap)

~3 min · sliders are LOCKED here; the gasp comes later

Predictions in chat ("founders own what % after this?") → Reveal ▸ Step 2: SAFE 25%, founders 18.75% each.
The sliders are greyed out and stay that way until the story finishes at step 5 — that is deliberate. Don't apologise for it; the point is that the numbers on screen are FIXED story numbers so every prediction is judged against the same board.

SAY "You raise two hundred fifty thousand dollars on a one-million-dollar post-money SAFE — and yes, dollars, because every pitch you will ever give is denominated in dollars even when every peso you spend is a peso. Founders own what, after? Predictions in chat. … Ownership is raise over cap: two hundred fifty over a thousand — twenty-five percent gone. Each of you: eighteen-seventy-five. You didn't negotiate a valuation — you promised a slice at a cap. That's all a SAFE is: speed money that skips the argument until later."

TEACH SAFE through the sim, not slides: future ownership at a cap, no maturity, no interest — pre-seed speed money. Note the instrument strip line: three separate $100k SAFEs at the same $1M cap is 30% gone, and nobody in the room felt it happen. Stacking is the danger, not the single cheque.

Steps 3 + 4 reveals — ESOP, then the priced seed

~3 min · predictions before each

Predict → Reveal ▸ Step 3 (10% pool pro-rata: founders 16.875 each · SAFE 22.5 · ESOP 10).
Predict → Reveal ▸ Step 4 ($1.5M at a $6M pre / $7.5M post: founders 13.5 each = 54% together · SAFE 18 · ESOP 8 · seed 20).

SAY "Two rounds in. Founders together: fifty-four percent. And hear this clearly — that is a HEALTHY story. Every slice you sold bought a milestone worth more than the slice. Dilution isn't theft; it's the price of speed. The question is never 'how do we keep a hundred percent' — a hundred percent of a dead startup is zero."

TEACH ESOP: early hires get paid partly in ownership, and investors make you set the pool aside. Valuation in one line: at this stage it's a negotiation over dilution — roughly ask ÷ (10–25% investor target) — not a DCF.

ASK "What's scarier — 20% dilution or a dead startup at month 8?" → Rhetorical; let 2–3 answers land. Correct the trap answer "we'll bootstrap so we never dilute": fine IF Tab 4 says default alive — check before vowing purity.

Step 5 reveal — vesting: the clause that was missing at step 1

~2 min · its own beat · slow down, let it breathe

Read the COMING NEXT panel: "no new money, no new investor — just the clause nobody wrote at step 1. One of the four walks in month 3. How much do they keep?" Take predictions. THEN press Reveal ▸ the thing we skipped — vesting. Slow down. Deliver it to the founders who will need it.
After the story: the sliders unlock. Drag the raise to $500k on the same $1M cap → 50% gone. Let the gasp happen, then return to defaults. Now it lands as consequence rather than as a toy.

SAY "The horror story is different. The horror story is the co-founder who left in month three — and still owns a quarter of the company, forever. Dead weight on every round. A poison pill in every due diligence. Investors walk away from that cap table without telling you why. The fix has a name: four-year vesting, one-year cliff. Leave in month three? You own nothing. Stay the journey? You earn every point. Agree it among yourselves BEFORE any investor asks — because the version negotiated after a fight isn't a document, it's a settlement."

ASK "Can the panel ask us about SAFEs on Aug 8?" → Unlikely as a scored item. But your Funding Plan cites an instrument, and saying "a SAFE at a one-million-dollar cap" correctly takes ten seconds and signals you know the road. Free credibility.

Instrument strip — point, don't lecture · crush-zone rules

~1 min

⚠ IF LATE (this is the designed crush zone): compress 16→8 min — keep all five predict-then-reveals, CUT the slider play after step 5 and shorten the strip to one sentence. NEVER cut the vesting story — it is step 5 and it is the payload. Do NOT mention the take-home simulator yet — it ships at ch.18 (spoils the predictions).

Point at the instrument strip (it mirrors Planner page 2, which they keep): "Note = SAFE plus a maturity date and interest, becomes debt if you stall; priced round = real shares at a real valuation, with real lawyers."

S5 · 2:38–2:53 · WORK TIME 2: Fundraising Planner buildApp ch.9 · 15:00 timer · the ask must equal the burn math

Launch — six boxes, all arithmetic

15:00 · JUMBO · music

Chapter 9: timer first, checklist stays on screen. Teams still finishing Tabs 4–5 finish them FIRST — the Planner needs Tab 4's number.

SAY "Fifteen minutes. Six boxes. Every blank comes from something you already own: your ladder claim, your Tab 4 burn, your Stress Test killer, the pathway map, the cap-table math. The ask is a formula, not a feeling: average net burn, times months to your milestone, times one-and-a-quarter for the world being the world. If your ask and your burn math disagree by more than twenty percent, Tab 6 turns red — and so will a real investor."

TEACH Boxes: ① stage claim + 3 tagged lines ② two FUNDABLE milestones (change what the venture is worth) ③ ask = burn × months × 1.25 (milk-tea reference: ₱25,176 × 18 × 1.25 ≈ ₱566,000) ④ use of funds sums to the ask ⑤ 3 NAMED funders + why ⑥ dilution line. Bootstrap teams still fill it: pathway = Bootstrap, "ask" = the revenue plan that replaces it, box ⑥ reads 0%.

Circulate — "why that number? show me the burn math."

the verbatim table question, every table

Pathway checks: Bughaw → DOST boxes coherent? · Tindahon/ArugaBai/Anakloud → accelerator terms in box ⑥? · BeVerified/ArugaBai → MAIN-sized ask? · Apolaki → financing partner named? · Link-OD → bootstrap documented, not apologized for?
Any ask that can't walk back to Tab 4 gets sent back to Tab 4.

SAY "And box six — the dilution line. Before you write 'we'll raise five million,' check what it costs you at a believable cap. If your ask sells forty percent of the company, either your ask is too big or your cap is too honest. Better to meet that math today than across the table from someone who does this for a living."

TEACH Two classic failures: the EGO ask (₱10M because it sounds serious — auto-check kills it) and the TIMID ask (3 months of burn — schedules the next fundraise for immediately).

ASK "What cap do we write in box 6? We have no idea what we're worth." → Nobody does — work it backwards: ask ÷ 20% = implied cap. ₱2M ask → ₱10M cap conversation. Write it, tag [G], sanity-check vs the reference sheet.
"Our milestone needs 24 months, not 18." → Then your NEXT fundable milestone is too far — find the ≤18-month proof point that de-risks the big one (permit, pilot cohort, supply agreement). Investors fund stepping stones.

Two-minute warning

"Use-of-funds sums to the ask? Three funders NAMED? Dilution line filled?"

S5 · 2:53–3:00 · Submit + Exit Ticket + The BridgeApp ch.10 · submission call at 2:53 SHARP · prediction card stays hidden

Submission call — 2:53 SHARP

watch the ALICE count; nobody breaks unsubmitted

Call it. The last minutes are buffer, not content. (ALICE down? → recovery moves, back of doc.)

SAY "Before anyone stands up: submit. FS Part 2 and the Planner, one submission per team, venture name only, ALICE. I'm watching the count."

Exit ticket → THEN the prediction reveal

card stays hidden until every ticket is in — showmanship, not spoiler

Tickets in chat while they submit. Press Reveal ▸ only after ALL are in; count aloud.

SAY "Exit ticket, one line: which single assumption, if wrong, kills you fastest — and what's your runway if it's wrong? You just computed both. Be honest; this becomes your defense armor." … (after all tickets) "I predict most of you wrote CAC or your growth rate — the two cells your funnel homework was built to harden. The machine keeps being one machine."

The bridge — and your break job

Over the break: skim tickets, count the CACs/growth-rates, flag surprises → coaching-list columns 2–3.

SAY "Here's where you now stand: you own the last number your pitch needs — the ask, and the burn math behind it. After the break: how to turn eight weeks of evidence into fifteen minutes a panel believes. 3:30. Do not be late; the first five minutes after break decide your August 8."

SESSION 6 — Pitching 101 (3:30–5:00)

S6 · 3:30–3:35 · Re-opening + Hook: Same Venture, Two RoomsApp ch.11 · both cards are GOOD · poll before overlay

Re-open with their exit tickets

~1 min

Chapter 11. Quote the ticket count from the break.

SAY "Welcome back. I read your exit tickets — [X] of you named CAC or growth. Correct, and now the number has a job: it's the closing slide of a story. This session is the story."

Read both openings ALOUD — then vote

~2 min · full energy on BOTH — neither is a strawman

Read Card A, then Card B, aloud (remote parity). Run the poll with tallies.

SAY "Same venture, two openings. Read both. … Vote: which survives OUR rubric on August 8?"

TEACH LigtasPay is fictional. THE TRAP: both openings are genuinely good — the vote isn't good-vs-bad, it's fit-for-room.

Reveal the overlay — land the operating rule

~2 min · this hook is five minutes, not ten

Press Reveal ▸ (rubric overlay). Land the build-once-cut-twice card and MOVE.

SAY "Here's the uncomfortable truth: both are GOOD. Card B might raise money! And Card B dies in front of a panel — because 'we're going to own MSME payments in Southeast Asia' is a sentence a panelist eats alive, and the SAME sentence is why an investor leans in. Two rooms. Two questions. The panel asks: is this feasible and defensible? The investor asks: can this be huge? August 8 is the FIRST room. Build for the panel. Cut for investors later. Build once, cut twice — never the reverse."

TEACH Why never the reverse: you can cut evidence for drama, but you cannot inject evidence into vibes at 11 PM on August 4. Closes Pain Points Gap 11.

ASK "Why not just make the defense deck exciting too?" → You should — excitement from EVIDENCE is legal in both rooms. What's illegal at the defense is momentum WITHOUT evidence. The defense deck can thrill; it just has to survive the question after the thrill.

S6 · 3:35–3:45 · The Two-Audience FrameApp ch.12 · row-by-row reveal · the Hope-N-Cope cold call

Five rows, five predictions, five reveals

~6 min · class predicts each investor cell BEFORE it shows

Chapter 12: for each row — ask the room to fill the investor column, THEN press Reveal ▸. Five presses.

SAY "Five rows. Before each reveals, predict the investor column. … Row five is the one to tattoo somewhere: what kills you at the defense is bluffing a panelist. What kills you with an investor is boring them. Opposite failure modes — same deck cannot maximize against both. Master deck for the panel; ten-slide cut for the investor. You already know which one is due August 5."

TEACH Rows: the question · what counts as evidence · tone · depth · what kills you. Row 5 bridges directly to the Gauntlet (ch.17).

The Hope-N-Cope cold call — the course thesis in one sentence

~3 min · fanfare credit if they nail it

Run the cold call. If they answer "same FS, two framings" — participation credit with fanfare.

SAY "Hope-N-Cope — panel asks your DepEd compliance cost. Investor asks your school acquisition cost. Which slide answers both? … The same file. Your compliance register and your funnel live in ONE model. That's not coincidence — that's why we built it this way for a month."

TEACH One machine, two windows. When this lands, the room understands why the course built one continuous model instead of separate homework artifacts.

S6 · 3:45–4:03 · Deck Anatomy: the 14-slide backboneApp ch.13 · the browser doubles as their post-class reference · minute-budget toggle

The backbone — and the four consecutive technical slides

~5 min · minute budget ON, leave it visible

Chapter 13: backbone overview. Toggle the minute budget ON (sums to exactly 15:00) and leave it up.

SAY "Fourteen slides. Every one has a job, and every job scores a rubric row. Look at ten through thirteen: roadmap, risks, change management, KPIs — that is the technical half of the defense rubric IN ORDER. Twelve of twenty-one points, four consecutive slides, and historically the four slides teams throw together the night before. Not this cohort."

TEACH Backbone: 1 title · 2 problem+evidence · 3 solution+beta · 4 traction · 5 unit economics · 6 GTM+CAC · 7 beachhead · 8 moat · 9 financials+scenarios · 10 roadmap · 11 risks · 12 change · 13 KPIs · 14 the Ask (= Planner box ③ from 90 minutes ago).

Open the high-casualty cards: 4 · 5 · 9 · 11 · 14

~6 min · read the lose-notes aloud with relish

Open 4–5 cards live (not all 14): #4 waitlist ≠ traction · #5 GMV ≠ revenue · #9 hockey stick without drivers · #11 generic risks · #14 the ask. Tell them the browser is theirs after class.

SAY "Headline discipline: your slide title is the message, in a full sentence. 'Unit Economics' is a filing label. 'CAC of one-eighty is four-point-one times covered by LTV' is an argument. A panelist who only reads your fourteen titles should hear your entire defense."

TEACH Data-slide rules (Knaflic-derived): one message per chart · takeaway in the title · honest axes (a truncated y-axis on a traction chart reads as deception) · label units · tag projections [E]/[B]/[G].

The time budget — a third of the presentation points

~2 min

SAY "Fifteen minutes — to confirm, but plan on it. That's a minute a slide, hard. Time management is a third of your presentation score, and it is the single most commonly donated point in ISJ2 history: teams lovingly hand it away by spending four minutes on the problem slide. Rehearse with a clock or donate the points."

The zero-evidence hands + two headline cold-calls

~4 min

Hands: the zero-evidence question. Then cold-call: "Tindahon, slide 5's headline — full sentence, go" (watch for GMV; correct kindly — known trap). "ArugaBai, slide 4 — the headline when your traction is a beta cohort, not revenue?" (honest cohort numbers with an [E] tag beat inflated projections).

SAY "Honest hands: which of these fourteen do you have ZERO evidence for today? … Whatever slide you just thought of — that's your weekend."

ASK "Can we reorder / drop slides?" → ±2 slides, order can flex — but every rubric tag must survive somewhere. Drop slide 12 = donate 3 points. Coverage first, elegance second.
"What goes in the appendix?" → Up to 10 back-pocket slides: funnel detail, FS tabs, compliance register, scenario table. "Great question — slide 19" wins Q&A rounds.

S6 · 4:03–4:13 · The BizPlan Reuse Map: the relief beatApp ch.14 · masked right column · Risk & Change worked micro-example

Hands up — then reveal the lines, pair by pair

~4 min · the accumulating rhythm IS the relief beat — don't dump in one click

Chapter 14: show of hands FIRST, then reveal the row-by-row reveals one column-pair at a time.

SAY "Show of hands, no judgment: who was planning to write the Business Plan the night of August 4? … Keep your hands up. Now watch. Seventy percent of your BizPlan already exists. You built it. It's sitting in files you've already submitted. The other thirty percent is exactly two rubric criteria nobody else will teach you — Risk Management and Change Management — six of the panel's twelve technical points, and after the next three minutes you'll own those too. Hands down. Breathe."

TEACH The map: Exec Summary (last) · Overview ← Beta Launch Plan · Model ← FS Tab 1 · GTM ← funnel homework · Financials ← Tabs 2/4/5/6 · Roadmap ← Planner box ② · Risks ← compliance register upgraded · Change ← Session 4 buyer map · KPIs ← homework item ⑦ · Funding ← today's Planner.

The 30% micro-lesson — Risk rows and the four chairs

~5 min · Hope-N-Cope worked example, then generalize

Walk the Hope-N-Cope micro-example: counselor (user, trained — 90 min, costed) · principal (champion, armed — 1-page ROI+compliance brief) · division office (buyer — DepEd-alignment letter) · school DPO (blocker — privacy pack sent BEFORE it's requested).
Generalize: "clinics, LGUs, brands, co-ops — same four chairs, different names."

SAY "Risk rows: likelihood, impact, mitigation — and CONTINGENCY. Mitigation is how you prevent it. Contingency is what you DO when it happens anyway. 'We will monitor closely' is not a contingency, it's a horoscope. And name the uncomfortable risks: founder departure, regulator delay, CAC twice as bad. 'Competition may increase' scores a one. The panel gives threes to teams brave enough to name what actually scares them."

TEACH Most student registers stop at mitigation and lose the point there. Change management = stakeholder map → resistance → comms & training plan; every team built the map in Session 4 and forgot they own it.

Point at the template — once

~30 sec

"The skeleton posts tonight — ten sections, guidance in every one, tables pre-built. Your job is filling, not formatting."

S6 · 4:13–4:45 · TEAM SPRINT: Storyboard the DefenseApp ch.15 + Team Mode · 32:00 timer · release the student URL NOW · scout the gauntlet volunteers

Launch — instructions, then the QR

90 seconds of instructions, THEN release · first student access of the day

Chapter 15: instructions first, THEN the QR button (clean student URL). 32:00 timer, JUMBO, music. Paper canvases in-room; Team Mode for remote scribes.

SAY "Thirty-two minutes. Fourteen frames. Each frame: a headline in a FULL SENTENCE, the evidence by NAME — 'week-3 beta cohort retention' not 'our data' — and the rubric tag is pre-printed so you can't forget who's grading it. Then be your own panel: star your strongest, warning-triangle your weakest, and mark the one you can't fill yet. The weakest-slide mark is not shame — it's your August 5 to-do list writing itself."

TEACH The sprint is the assessment-in-miniature; the ⚠ and ∅ marks are the real product — they feed the swap, the exit ticket, and your coaching list. Announce the pacing plan: frames 1–8 by minute 15 (they mostly exist — reuse map paying off), 9–14 by minute 26 (rubric-heavy), marks in the last 6.

Scribes + the save-and-screenshot note

say it aloud — it's also printed on screen

Fully-remote-team check, explicitly: they run entirely in their breakout with Team Mode — say it so they don't sit out.

SAY "Scribes: if your team has a remote member, the REMOTE member is the scribe — they screen-share Team Mode into your breakout, one unmuted laptop per table. And one habit: the digital canvas auto-saves in the scribe's browser — but a different device won't have it, so screenshot before you leave."

Circulate with the pitch-trap column — and scout volunteers

2 min per table · one trap-check question each

Cheat-sheet pitch-trap column in hand (back of doc). One question per table: "read me your slide-9 headline — sentence or topic?"
SCOUT two gauntlet volunteers: one confident team (sets the bar) + one whose ⚠ matches a family you can aim (finance ⚠ → F5, adoption ⚠ → F3).

TEACH Traps: Apolaki climate-story-burying-payback · Bin-Go ESG jargon · BeVerified hand-waved NPC cost · Link-OD one-shipment-as-model · Bughaw impact>COGS · Tindahon GMV · Anakloud feature-demo · GRACE soft-pedaled privacy · VaxLink [G] supply · ArugaBai unobserved LTV · Hope-N-Cope MOU-stage claims.

Pacing calls at minute 15 and minute 26 — then the 2-minute warning

Minute 15: "frames one through eight should exist." Minute 26: "rubric-heavy frames now — ten through thirteen ARE the technical rubric."
Two-minute warning: "★, ⚠, ∅ marked? The swap needs your ⚠."

S6 · 4:45–4:50 · The SwapApp ch.16 · 5:00 timer · a signed attack question = participation artifact

Launch the swap

5:00 · pairings on screen

Chapter 16: pairings up — Bin-Go↔Hope-N-Cope · BeVerified↔Anakloud · Tindahon↔VaxLink · Bughaw↔ArugaBai · Link-OD↔GRACE · Apolaki joins the Tindahon↔VaxLink trio (both partners write on Apolaki's board; Apolaki picks one to attack). Remote: screenshot swap via chat/DM.

SAY "Swap with your partner team — pairings on screen. You have five minutes and ONE job: find their warning-triangle slide and write the question a panelist would ask about it. Format you know: 'I don't believe blank, because blank.' Sign it with your team name — it's a participation artifact, and it's also a gift: you are showing another team their August 8 question two weeks early. Aim well. They're doing the same for you."

TEACH Pairing logic, if asked: your partner sells to a similar buyer with similar traps — their eyes find your soft spots fastest.

Collect the signed questions

photo or physical

They're participation artifacts AND coaching-list input (the free third data point per team).

S6 · 4:50–4:55 · The Q&A GauntletApp ch.17 · fire button + 60s timer · class scores A/E/I · 1 volunteer team (a second only if ahead)

Model the cadence YOURSELF — ten seconds, before any student answers

~2 min

SAY "August 8, the slides end and the questions start — and the Q&A is where defenses are won. The cadence: ANSWER in your first sentence. Then evidence, tagged. Then what it means. Under sixty seconds. Listen: 'Our CAC is ₱410, derived from eleven paying conversions — that's an [E] with honest error bars, so we plan against a ₱550 downside, which still leaves 14 months of runway.' Answer, evidence, implication. Your turn."

TEACH Minto-derived: ANSWER first (no wind-up) → EVIDENCE (specific, tagged) → IMPLICATION. Three legal don't-know moves: bound it · bridge · own it with a plan. Never bluff — ISJ2 defenses died at the bluff, not the gap.

Live rep — fire, 60 seconds, score

volunteer 1 · aim the family at their ⚠

Chapter 17: family filter to their ⚠ family → FIRE a question ▸ → 60-second countdown → class scores the three tallies (co-host clicks remote votes) → fast debrief: which of the three was missing?
Team 2 only if you're ahead of clock.

SAY "And when you don't know — three legal moves: bound it, bridge to what you do know, or own it with a plan. What you may never do is bluff. The panel forgives a gap with a plan every single time. It never forgives confident fiction — that's where defenses go to die, and I've watched the tapes."

Point at the bank

⚠ IF LATE: one volunteer, never zero — the modeled cadence plus one live rep is the minimum that makes Aug 8 rehearsable.

"All twenty-five questions post tonight. Rehearse against them. Nothing on August 8 should be a surprise."

S6 · 4:55–5:00 · Homework Brief + Closing the ArcApp ch.18 · the Aug 5 checklist, the rehearsal rule, the arc close

The Aug 5 checklist + the rehearsal expectation

~2 min · walk the cards: checklist → rehearsal → logistics

Chapter 18: walk the Aug 5 checklist slowly (deck + BizPlan team · reflection + peer eval individual, no identifiers) → the rehearsal rule (two timed runs, one recorded) → the reflection prompts → press Close the arc ▸.

SAY "August 5, via ALICE: deck and BizPlan from your team; reflection and peer eval from each of you, no names in the files. The reflection prompts are on screen — read them tonight, not on August 4. And two full timed rehearsals before August 5, one recorded. Watching yourselves on video is the least fun and highest-value hour left in this course. Exit ticket on your way out: your weakest slide and the one fix — that ticket is how I coach you for the next two weeks."

TEACH Deck spec: 14 ±2, every projection tagged, ≤10 appendix slides, minute budget in the title slide's notes. Defense: Aug 8, four blocks; slot ≈15 + 10–12 Q&A (⚠ to confirm — "if the split changes I'll announce it; the rehearsal discipline doesn't change").

The gift — and collect tickets BEFORE the arc

tickets in chat first, so the last thing in the room is the arc, not admin

Collect exit tickets in chat (⚠ slide + one fix) → coaching-list columns 4–5.

SAY "One more file posts tonight: the cap-table simulator from this afternoon — yours to keep. It's not for August 8. It's for the day after Demo Day, when one of you gets a term sheet and needs to know what it costs. Consider it a graduation gift, slightly early."

Close the arc — slow, verbatim

end two minutes early if you can; let them leave on the arc

SAY "Last thing. June 27 you audited a pitch. July 11 you guessed a number. July 21 you derived it. Today it became an ask. August 8 you defend the machine. The deck is just the receipt. Go build the receipt. 5:00 — see you at the defense."

Tonight: post the student app URL, BizPlan template, Question Bank, cap-table simulator. Compile both exit-ticket sets into the coaching list while fresh.

END MATTER — cheat sheet · FAQ · recovery · ⚠ sheet

THE PER-TEAM CHEAT SHEET (design doc §4, verbatim — print this page)

Use column 2 during the stage self-placement round (ch.6) and columns 3–4 at the tables (ch.5/ch.9 builds and the ch.15 sprint).

Team	Likely stage claim vs. reality	Natural funding pathway (first money)	Killer assumption to probe (S5)	Pitch trap to warn (S6)
Apolaki	Will claim pre-seed; validation until financed installs happen	Strategic/CVC (energy), DOST; consumer financing partner matters more than equity	Install gross margin after financing cost	Selling the climate story, burying the payback math
Bin-Go	Validation → pre-seed if a paying ESG pilot exists	Grants (DENR-adjacent), QBO; then angels	Pilot→paid conversion; who owns ESG budget	ESG jargon instead of a named buyer with a budget
BeVerified	Pre-seed-able if API demand is real	Angels/MAIN, Kickstart (enterprise fit)	Security-review cycle time (sales cycle killer)	Hand-waving the NPC/DPA compliance cost it claims as moat
Link-OD	Validation; service revenue may make it bootstrap-first	Bootstrap via contracts; DA/DOST agri grants	Utilization % needed to cover a cold-chain asset	Presenting one trial shipment as a repeatable model
Bughaw	Validation; grant-perfect profile	DOST-PCIEERD / RA 11337 grant is the textbook case — use them as the live example in the pathway-map segment (~2:15)	Unit cost vs. plastic at low volumes	Impact narrative outrunning the COGS table
Tindahon	Validation (marketplace liquidity unproven)	Accelerator (IdeaSpace/QBO); too early for VC	Seller activation cost (supply side)	Quoting GMV where the rubric wants revenue
Anakloud	Validation → pre-seed with clinic LOIs	Impact investors, Villgro; DOH-adjacent grants	Clinic decision cycle length	Demoing features instead of defending adoption
GRACE	Validation; trust metrics are the asset	Grants/foundations first (sensitivity of domain)	Trust→first-documented-use conversion	Any slide that soft-pedals data-privacy risk — panel will pounce
VaxLink	Validation (two-sided, supply-constrained)	DOH partnerships, impact funders	Provider onboarding cost/speed	Projecting demand growth while supply side is [G]
ArugaBai	Validation; consumer WTP unproven	Angels; accelerator	Free→paid % from beta (not waitlist)	LTV built on retention it hasn't observed
Hope-N-Cope	Validation; long institutional cycle	Grants (DepEd/DOH-adjacent), Villgro, impact angels	Sales cycle: principal + division sign-off months	Claiming seed-stage traction on MOU-stage evidence

Student FAQ Bank — the 10 questions you'll get, with answers

Q: Our flag says DEFAULT DEAD. Do we fail the defense?

No — most real seed-stage startups on earth are default dead; that's literally what fundraising exists for. What fails a defense is not KNOWING. "We're default dead, cash-out month 14, so we start raising in month 8, and here's the ask with the burn math" is a THREE on Financial Feasibility. The flag is a diagnosis, not a grade.

Q: How can we state a valuation when we have no revenue? Aren't we just making it up?

Everyone at your stage is "making it up" — the honest ones make it up with arithmetic. Early valuation is a negotiation over dilution: your ask ÷ the 10–25% an investor typically targets = your implied cap. ₱2M ask ÷ 20% → ₱10M cap. Tag it [G], sanity-check against the PH ranges on the reference sheet, and never present it as an appraisal. "We'd propose a cap around ₱10M, implied by our ask" beats a confident number with no math every time.

Q: Should we even raise? Do we lose marks for choosing bootstrap?

Raising is a strategy, not the syllabus. If your Tab 4 says default alive, or your Link-OD-style contracts fund the next milestone — bootstrap is often the STRONGER answer. The Planner still gets filled: pathway = Bootstrap, the "ask" becomes the revenue plan that replaces it, dilution line reads zero. What loses marks is raising-as-default with no burn math behind it — the exact thing the Pain Points doc warns about.

Q: Grants versus equity — isn't a grant just better? Free money?

Grants aren't free — they pay in paperwork: reporting burden, disbursement lag (months, sometimes quarters), and scope-lock (the money must do what the proposal said, even if your model pivots). Still often the RIGHT first money here — equity-free, milestone-shaped, and PH agencies are actively writing these cheques under RA 11337. Rule: grants for runway, accelerators for doors, angels for believers. Model the timeline honestly in your roadmap.

Q: Our runway is 4 months. Should we be panicking?

You should be PLANNING — panic was appropriate back when you didn't know. Four months means: the fundraising (or revenue) clock started yesterday, your Planner's ask is not optional homework, and your downside scenario is your operating reality. It also means the ₱500k standardized assumption may understate your real position — put your true committed capital in the comment cell and know both numbers. Teams with 4-month runways and a dated plan defend BETTER than teams with 20 months and no clue.

Q: Is ₱500,000 realistic? Why is everyone forced to the same number?

It's deliberately artificial — a standard test load, like a crash-test dummy's weight. Same cash for everyone means your runway differences come from your MODEL (burn, margin, CAC), not from who has a richer uncle — which is what I'm grading and what the panel is probing. Your real number lives in the comment cell, and on Aug 8 you may present real committed capital as long as you show the math both ways.

Q: Do we need to incorporate — SEC, the works — before August 8?

For the defense: no; the panel scores a plan, not a corporate registration. For accepting one peso of investment or signing a real customer contract: yes — and it's weeks, not days (₱15–40k, 4–8 weeks from July 11's compliance map, and Cluster 2 adds NPC registration). The smart move for continuing teams: start the paperwork in August so Demo Day interest doesn't die waiting for documents. Put it in the roadmap — panels love seeing the unglamorous row.

Q: Can our stated ask differ from the Tab 6 auto-check?

Within 20%, yes — round to a clean number, add contingency, fine. Beyond 20%, the cell turns red, and the red is the point: an ask that can't walk back to burn math is an ego number, and a panelist (or investor) will make you do the walk in public. If you genuinely need more than the formula gives — a capex lump, say — the fix is to put the capex in the model, not to inflate the ask around it.

Q: Our sales cycle means zero revenue by August 8. How do we present financials without looking dead?

Present stage progression as the asset it is: a signed pilot with success criteria, a superintendent meeting on the calendar, a procurement checklist in hand — each one dated on the roadmap. Then let the FS carry the story: "revenue starts month 9; here's the burn until then, the runway, and the raise that bridges it." Institutional models aren't punished for slow revenue; they're punished for pretending it isn't slow. Your honesty about the cycle IS the evidence of feasibility.

Q: Do we really have to make two decks?

You make ONE deck — the master, built for the defense — and later CUT a 10-slide investor version from it. Build once, cut twice. The deck due August 5 is the master. Cutting is an afternoon; building the evidence layer an investor deck lacks is a month you won't have. Never build the investor deck first and try to inject evidence later — that's the one order of operations that fails both rooms.

If the room goes sideways — recovery moves

Timing insurance, S5 (the crush hits ch.8): the cap-table sim compresses from 16 to 8 minutes — keep all five predict-then-reveal steps, CUT the post-story slider play and compress the instrument strip to one sentence; never cut the vesting story. The two build blocks (ch.5 20:00, ch.9 15:00) are never cut — they produce the graded deliverables due at 3:00.
Timing insurance, S6: the Q&A drill drops from 2 volunteer teams to 1 (never to 0 — one live rep is the minimum). The deck browser drops from 5 cards to 3 (keep 4, 9, 11). Never cut the storyboard sprint below 25 minutes — under that, the swap loses its function and you lose the participation artifact.
A team arrives without the derived CAC: don't relitigate — they build with the July 11 guess, you say the promised line to the ROOM ("a guessed CAC means a guessed death date"), and they inherit a to-do: re-run Tabs 4–6 with the derived number before Aug 5. Note them for the coaching list.
A team's Tab 4 shows errors mid-build: the continuity guard caught a Part 1 hole (hand-typed value over a formula, usually). Coach the fix at the source; 5 minutes max, then move on — the milk-tea defaults on your screen carry the teaching regardless.
Silence on a cold-call: count to five before rescuing, then go binary: "static runway — longer or shorter than the dynamic one?" Binary restarts frozen rooms.
A team gets defensive at the stage correction or a table challenge: re-aim at the evidence — "nobody's attacking you; we're attacking the word 'pre-seed' on that line. The word has no feelings." Then give them the honest-upgrade path (claim + evidence + next milestone) so the correction ends with them holding something better.
The death-date framing rattles someone: it's a model, say so — "your MODEL dies in month 9 under THESE assumptions; you now have three sliders and a fundraising plan that move it. That's more control than any startup that never looked."
A number surprises you on stage: hover the point, read the tooltip, do the arithmetic aloud. Visibly checking beats pretending — it models the exact behavior the rubric grades.
Accidental app refresh: harmless — state restores from localStorage. The only true wipe is the brand-button reset (confirm-guarded). If a student device shows stale state, that's THEIR saved session: brand-reset on their machine.
ALICE is down at 2:53: do not burn the break fighting it. Fallback: each team emails both files to you before leaving the room, subject = venture name only; re-submit to ALICE by 9 PM. The gate is the files existing before break, not the platform.
A team has zero in-room members: they are excluded from nothing — their scribe runs Team Mode from home, the team works in their breakout, the swap happens by screenshot DM. Say this explicitly at the sprint launch so they don't sit out.
Energy dip after the break (~3:30): don't lecture into it — the LigtasPay vote is social by design; run the poll BEFORE any teaching and let the disagreement wake the room.

For Artie's confirmation (the ⚠ sheet — resolve before Saturday)

Ladder bands are now USD and sourced (validation <$50k · pre-seed $50k–$250k · seed $250k–$1.5M+, SEA bands with PH at the lower end). Unsourceable check sizes were REMOVED rather than guessed — MAIN, Kaya, Foxmont, Gobi-Core, Kickstart and ADB are named without figures. Only DOST-TAPI YET (₱250,000 / ₱350,000) and IdeaSpace (~$20k–$50k) carry numbers. FX on the planner and workbook is ₱61.65/US$1, rate as of 17 July 2026 — update it the week you pitch.
Defense slot split: 15 min + 10–12 Q&A (design heuristic from ISJ2 recordings; single-sourced in the app (ch.13), Deck F slide 14, and this script).