Reshma Sohoni: Seedcamp

Slide 1: Seedcamp Catalysing Europe’s Next Generation Technology Entrepreneurs

Slide 2: Europe is a great place to start a company • EU has 8 of Top 11 broadband markets, with >30% penetration) in Denmark, Netherlands, and Switzerland • In UK alone, online advertisers spend 2x than US (16% of total ad spend in 2007 and 38% growth over 2006) • Amazing R&D talent – High number of science & technology graduates and powerful technologies born here • ...So, we want to help create more European versions Source: Economist Jan 17, 2008, IAB

Slide 3: We’ve given birth to powerful technologies…

Slide 4: Experienced venture capital... • More venture capital was put to work in Europe in Q1 than ever before - the $1.3bn total was way higher than the previous peak in Q107 • The average deal size for Europe broke $10m for the first time • The average deal size in the UK was $11.9m which is higher than the US figure of $11.6m

Slide 5: We’ve begun to have some great exits… $1.0bn $4.1bn $1.1bn $900m $850m $575m Unknown $366m $265m $280m

Slide 6: We have a pipeline of web leaders….

Slide 7: Entrepreneurs actively seed investing... • Oliver Jung & Lucasz Gadowski • Saul & Robin Klein via TAG • Samwer Bros via European Founders Fund • Martin Varsavsky • Niklas Zennstrom & Janus Friis via Atomico • Klaus Hommels • Stefan Glaenzer • Michael Kleindel • Oliver Beste & Fabian Hansmann via FoundersLink • Brent Hoberman • Hugo Burge and David Soskin via Howzat Media

Slide 8: Yet, gaps remain at the early stage... • Seed and early stage investing remains a underfinanced segment – 2008 will be a more difficult and competitive year • It is challenging to rise above the increasing amount of noise in the startup community • Access to high quality mentorship and network continues to prove difficult for 1st time entrepreneurs

Slide 9: What is Seedcamp? • Competition + Fund + Events for early stage companies • Seedcamp 2008 – September 15th – 19th • Europe-wide initiative to catalyze the next generation of Europe’s entrepreneurs • Combination of Seedcamp Week + 3 months immersion + Seedcamp on the Road • Initial funding to get started and more importantly a strongly supportive mentor community • Organization supported by leading VCs, Angel investors, Corporates, Media Partners, and other experts • The go-to community for entrepreneurs starting up Internet and mobile related businesses

Slide 10: What are we looking for? • Teams of 2-4 – combination of technical/developer talent + business-savvy • Ideas focused in the internet, mobile, open source, software sectors • At prototype or product stage – not just powerpoint presentations

Slide 11: How does it work? • Application & Selection – Targeted at young teams from EMEA June & – Open application through the web – 20 best teams selected by panel of VCs July – Invited to come to London for 1 week in September • Seed funding – Week long, immersive event in London for winners Sept – Successful teams surrounded by 150+ exceptional mentors – Up to 5 teams chosen for €50k funding for 10% equity stake 15th-19th – Invited to stay a further 3 months in London • Company development – Weekly lunches & events to support teams – Demo day after 6 weeks Sept to – Investor day after 10 weeks December – Trip to the US (West Coast) • Seedcamp on the Road – Create the ecosystem where entrepreneurs, investors, and mentors can connect and work together January – Working with local universities and developer communities to highlight talented teams and encourage entrepreneurship to June – Build relationship with local Angel and VC investors to build on the ecosystem

Slide 12: We’re backed by Europe’s leaders Few of the Investors Some of the Mentors Niklas Zennstrom Leisa Reichelt Martin Varsavsky Jane H. Finette Brent Hoberman Sean Park Marc Samwer Founders Link Charlie Muirhead Jeff Barr Matt Jones Robin Klein Tom Coates Rodrigo Madanes Mike Shaver Lukasz Gadowski Saul Klein Rory Sutherland And a few of the Friends

Slide 13: How do companies benefit • 3-month active access to Europe-US mentor and partner network – Product launch, Business Development, Marketing strategy – Recruiting for business and technical talent – Advisors, legal setup, media coverage • Milestones and access to Funding – Accelerated speed of company development through working with other teams and clear milestones – Demo Day and Investor Day – receive dedicated feedback on product development and funding • Results – Most of the companies have closed next round of angel or VC funding at the end of the 3 months – Product to market moved much faster from stand-alone targets

Slide 14: The future – how we work together 2007 Seedcamp had 268 applications (60% from Continental Europe) 2008 goal is to attract even higher quality, more pan-European teams • We want more hackers (University, Open source) less pure MBAs • Help us get the word out locally • Help us create an active community: – Tap our network – Use (or start) OpenCoffee Clubs to meet peers and develop ideas – Get involved on our FB group, You Noodle, website forum • Get ready for 2008 Seedcamp