VC's Newsletter #12: The 3rd edition is on!


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ISCTE/MIT Venture Competition releases newsletter issue #12. This month we talk about the 3rd edition launch, startups Move Mile and Actual Sun and Paulo Trezentos from Caixa Mágica, is our guest for the opinion article. Don't miss it, there is a lot more to read about!

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VC's Newsletter #12: The 3rd edition is on!

  1. 1. Awarded byNewsletter #12, 19th March, 2012Musikki is the 2nd ed. Grand Finalist! The 3rd Edition is on!In a packed auditorium of 500 technology The submission period for the 3rd ed. justenthusiasts, judges, keynote speakersand alumni, Gonçalo Amorim welcomed all opened! Go online and send yourpresent. application, deadline - 1st May.After the 4 finalists deck pitches, the audience Who are we looking for? Start-ups &was called upon to vote on the highest potential Spin-outs (<5y) and entrepreneursstart-up, using BIPS solution, developed dedicated to the development of tech-by Around Knowledge, 1st ed. Grand Finalist. based opportunities for global markets.The Award Partner, represented by Walter Why should you apply? 80,0% of semi-Palma, announced the Grand Finalist – Musikki. finalists succeed in launching a start-upThe founder, João Afonso introduced for the first and 69,0% raise funding.time, live their brand new Facebook app!! What do I need to apply? Send us a 2- page Executive Summary and a 12-slide PPT OR a 3min. video describing the opportunity. Be the next one to succeed, apply now! For more info, go online, and read the Rules & Regulations.Carlos Oliveira, Deputy Minister for Innovationand Entrepreneurship, convinied the closing __________________________________________speech to which followed a networking and postersession. The 1st Alumni meeting closed theceremony. Visit the photo gallery The New Portuguese Start-ups ProfileActual Sun - blasting off By Paulo TrezentosActual Sun, a 2nd ed. Go-to-Market Plan Wizard,is currently in the US at SURGE Accelerator Caixa Mágica, Technical Directorfocused on customer and product development.Off to a great start! There are some very basic, yet undeniable, facts in the economic crisis we live today. First, if consumer spending and public sector demand in Portugal is slowing down at a fast pace, our companies should turn theWith a new member onboard, the start-up has focus to external markets. Secondly, if you want to target internationalacquired a new Spanish customer and istargeting at least 3 others. The co-founders are markets you should have a strong offer of tradable goods. Electricitymaking the most from the US DOE SunShot production, construction and civil engineering, property brokerage orProgram as a way to part finance their insurance services are traditional sectors of any developed economy but,development of a prototype into a final product. other than a few exceptions, such sectors offer low potential of having real impact in exports. Thirdly, you must be competitive and know yourMove Mile a step towards internationalization customers well. Theres work to be done now.Move, the electric driverless vehicle develop by Entrepreneurs have different visions and various motivations but they allMove Mile 1st ed. semi-finalist, is currently in use share the same goal: to have success and build solid solutions to a central hospital in Coimbra (Portugal). It wasrecently visited by representatives of the ArgelianGovernment that showed interested in the
  2. 2. Awarded byproduct. Put yourself in the ISCTE MIT-Portugal Entrepreneurship Initiative Winners shoes. What would be the profile that you would look for in your start-up? There is not, of course, only one profile that fits all startups and I will focus in the technological ones. As a prouder founder of two technological companies created with a gap of almost ten years between them, I discovered that we live in amazing times. And thats a unique, real opportunity.The visit was part of a technology roadshow thatthe Argelian entourage made in Portugal lastmonth. Caixa Mágica was born as a project for Linux distribution in Portugal, in 2000 and in ISCTE-IUL. At the time it was only me together with two otherAre you a semi-finalist looking for extra enthusiastic colleagues. Back that time, the concept of entrepreneurship,funding? incubating and startup acceleration was not spread. Of course, we had roleStart-ups having raised VC money and looking for models of entrepreneurs that reached the success with internationalextra funding to boost developments in their companies such as Cray, Sun Microsystems or HP.products and sales, are encouraged to apply forpublic financing incentives – QREN. A majority of In 2004, with two other partners we have created our first product: Caixasemi-finalists do manage to successfully closedQREN funding. Go online to find out more and Mágica Software. As a startup solely dedicated to that purpose, Caixacheck the new deadlines for submissions. Mágica Software aimed at two different market segments: i) Linux distribution for personal use, companies and public administration and ii)Silicon Valley Bootcamp @ ISCTE-IUL consultancy in Open Source technologies. The break-even was reached inoutcomes 2007 and since then we have been profitable.ISCTE-IUL and Leadership Business Consultingoffices of San Francisco hosted a bootcamp last 7 Looking back, there was no venture capital or accelerators. Our key points& 8th March in Lisbon. 7 starts-ups had the to success were i) focusing (“the open source specialists”), ii) building achance to work on their pitches and networking great team – we are now over 30 - and iii) balancing our offer betweentechniques with the organizing team – TorbenRankine and Henrique Gomes (Leadership BC), products and services. On the other hand, the participation in Europeantwo entrepreneurship expert Professors from the research projects was very useful to drive our mindset to innovation andUniversity of San Francisco and Gonçalo Amorim creativity. Our ambition is growing continually ever since. To date we(ISCTE-IUL), joined forces in helping future maintain the leadership as “the open source company” in the Portugueseentrepreneurs getting off the ground. market. Now we are looking beyond our frontiers. The stakes couldnt be higher.João Martins from Much Beta, “this was aninspiring event that gave me a new perspective Aptoide is Caixa Mágicas first ever spin-out, founded in 2011 with theon how to make business.” vision of providing the largest independent Marketplace of Android applications. Competing with Google Android Market, we envision that thereCEV to run field trials is space and opportunity (and fun to be had) to offer an Android App Store that is driven by the community. With our Linux expertise – Android is Linux,ISAs spin-out CEV, Biotecnologia das Plantas,S.A. has signed a distribution and development by the way – and the research background in software package installation,agreement with FMC Corporation a patented we started very early the development of the concept. It is not by chancefungicide, which has a new mode of action. FMC that Aptoide team is distributed between Lisbon and San Francisco, CA /will develop and market the fungicide in the USA. Its just a consequence of our global offering, where competitionUnited States and Canada as Problad Plus™ forall crop and non-crop uses. Know more. couldnt be tougher. But it wouldnt be fun if it were otherwise, right?Do you have a great idea? In the process of building new cos, our experience has taught us that Lisbon is the perfect place to have a sound technical team. GoodEnergia de Portugal is an entrepreneurship engineers, reasonable wages, nice weather, great lifestyle. San Francisco /initiative looking for entrepreneurs with or Silicon Valley is important to reach out to partners, to shape the productwithout fresh ideas. It aims at organising 50teams of 4 individuals around an idea and and to finance and scale up your venture, i.e. meet with Venture Capitalprovide promoters the right tools for lean firms and close deals.
  3. 3. Awarded bybusiness development. Having reached 60.000 unique users / day of our Android native app and 450.000 page views / day of our mobile site, Silicon Valley is important in the continuous process of the product definition (“shaping”). Who are our clients? How do we make money? What features are critical? In the Valley, time goes fast, very fast. You watch your competition workingInterest? Deadline for applications 31th March. hard and that makes you work even harder. You drink coffee with someoneCheck our latest Job Offers here that pitches you the concept of his startup, and two weeks later you heard that it was sold to Google. There is also a downside. There are so manySave the Dates – update your calendar now: ideas, so many startups, that sometimes it is difficult to be heard and be listening in the middle of so much “noise”. 21 & 27.03.2012 Masschallenge info session 27.03.2012 Knowledge Intensive Services (KIS) AS DRIVERS OF EUROPEAN The first years of Caixa Mágica, back then in the previous decade, and now SMES COMPETITIVENESS Aptoide are different not only because they address different markets. They 27 & 29.03.2012 Product Development and the are different because the “playfield” has changed. In the beginning of Caixa(extra sessions in Innovation Process for Researchers April) Mágica, we posted in USENET newsgroups to spread the word and the 31.03.2012 Energia de Portugal – Deadline for news about the company appeared in sites. Today, Aptoide is growing applications. through the social networks as Twitter and news, such as the 19-20.04.2012 European Seminar: European Contract Practice for R&D Projects announcement of new versions, appear first in Aptoides Facebook page. 24-26.04.2012 HANNOVER MESSE 2012 Flying to London is cheaper and faster than drive by car to Braga, for 26.04.2012 Annual In-NOW-vation Tech instance. We do more Skype conferences calls than physical meetings. The Showcase and Celebration 01.05.2012 3rd ed. ISCTE/MIT VC - Deadline for world has become a village. So dont think you are safe just because your Applications competitors are sitting thousands of miles away. I guess thats a challenge for us Portuguese. But in the 15th century, it wasnt. More events around Europe? Here The ISCTE-IUL MIT-Portugal entrepreneurship initiative together with otherFollow us on groups such as Leadership Consulting and Beta-i are shaping the future of Portugal. Together they are doing an amazing job at changing one of the most critical variables of Startup creation: the mindset. We have material bodies and, in a certain time, we belong to a certain place. But our mindset is immaterial and maybe everywhere. Must be everywhere. Must be global. The world is our home. This means that our clients maybe in China or Singapore. Our partner maybe in San Francisco. Our Venture capital funding may be in London... We should live each day looking for new solutions for our challenges and opportunities that maybe thousand miles away. One should not be cheap and take calculated risks. If the largest industry gathering is a congress in Barcelona, it is better to travel there for three days and have 16 hours days with meetings, coffees and pitches, than spending two months doing typical meetings in our city. And that is the real profile of a new breed of Startup companies and Portuguese entrepreneurs. As in the beginning of times, the ambition is the sky. But we use the five continents to reach it. The Organization wishes to thank Paulo Trezentos for his contribution to the current Newsletter issue with this opinion article.
  4. 4. Awarded byNeed more Information? Unsubscribe