Different Types of Entrepreneurship - Entrepreneurship 101 (2012/2013)
•
8 likes•19,272 views
@marsdd.com! ! Thank you for the overview on entrepreneurship. Let me know if you have any other questions.
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Similar to Different Types of Entrepreneurship - Entrepreneurship 101 (2012/2013)
Similar to Different Types of Entrepreneurship - Entrepreneurship 101 (2012/2013) (20)
More from MaRS Discovery District
More from MaRS Discovery District (20)
Recently uploaded
Recently uploaded (20)
Different Types of Entrepreneurship - Entrepreneurship 101 (2012/2013)
- 1. Pg 1!
- 2. Entrepreneurship 101! ! Presented by Kerri Golden, Partner JOLT Fund ! and ! Allyson Hewitt, Director, Social Entrepreneurship and Director, SiG@MaRS! ! October 2012!
- 3. Memory at Work ¨ Why do I want to start this business?! – What is my motivation?! ¨ What resources do I need?! – Basement or corporate office?! – Shared spaces/incubators?! ¨ How do I fit into the rest of the world?! – Is my product and/or service unique?! – Have others tried this before?! ¨ What is my business model?! – For profit?! – Not-for-profit?! – Co-operative?! – Hybrid?! Pg 3!
- 4. Target Zone Grant Funded Revenue Social Social Ventures Tradi;onal Non-‐Profit Genera;ng NFP Purpose (B Corps – L3C) Business (Charity) (Social Enterprise) Business Co-‐opera3ve Structure Social (Charitable) Financial (Commercial) RETURN Pg 4!
- 5. Memory at Work CONSULTING! ¨ Key Characteristics! – Multiple participants, diverse focus, variable size, leverage core assets to provide access to market and advice! ¨ Examples! – Consulting: McKinsey, Bain, Deloitte, IBM, Hatch! – Aperio, Venture Deli! ¨ Benefits & Risks of Model! – Low capital costs and minimal set-up! – Leverages specialized knowledge/experience ! – Liability insurance, can be difficult to build/scale! Pg 5!
- 6. Memory at Work SERVICES! Pg 6!
- 7. Memory at Work SERVICES! ¨ Key Characteristics! – Speciality business serving consumers or other businesses or consumers! ¨ Examples! ¨ Benefits & Risks of Model! – Online software as a service! – Capital costs can be high; labs services, servers! Pg 7!
- 8. Courier Services! Pg 8!
- 9. Advise. Convene. Accelerate. JUMP Math! Do good- er Photo: Chris Chapman This is John Mighton of JUMP Math. We worked together to take his innovative venture to the next level. Do good better. This is SiG@MaRS. marsdd.com/sig Pg 9!
- 10. Memory at Work PRODUCTS! ¨ Key Characteristics! – Tangible offering (consumer products, pharmaceuticals, equipment or device)! ¨ Examples! ! ¨ Benefits & Risks of Model! – High development costs; marketing! – Sales and distribution model! – Production costs high, outsource?! – Potential for scale - huge! Pg 10!
- 11. Memory at Work PRODUCTS! Pg 11!
- 12. Memory at Work ¨ Forms of Financing! – Bootstrap - self-fund and reinvest all profits for growth ! – Debt - borrow from someone, using an asset as security; rate & time period to be negotiated! ! – Equity - sell a piece of your venture to someone in exchange for an investment in the venture! ! – Fundraising: grants/ foundations/ government funding/ corporate sponsorship/ members (co-ops)! Pg 12!
- 13. Memory at Work A quick primer on debt versus equity:! ! Debt: - gets paid back first, before any dividends ! get paid ! !- secured by assets (company, your personal)! !+ once the debt is repaid (with interest of ! course), the lender gets nothing else! ! Equity: + never has to be “repaid”! ! - keeps on “paying” forever! ! -/+ you now have an investor partner who ! is in this, like you, for the long haul! Pg 13!
- 14. Mobile App Example! You need $40K to build/market a new iOS app – have grant for $10K so funding needed is $30K Profit Debt 50:50 Equity Low on chart $10K lender loses $20K* partner loses $25K you get $0K & owe $20K you get $5K Featured List $30K lender is even+ partner loses $15K you make $0K you make $15K Top of Chart $200K lender is even+ partner makes $70K you make $170K you make $100K Granting agency reports your success!
- 15. Memory at Work Crowdfunding! Pg 15!
- 16. Memory at Work ¨ The 3Fs again – Friends, Family and Fools! – The turkey principle! ¨ Angels (aka high net worth individuals)! – Generally like to invest in areas that they have worked in or are comfortable with! – Can add valuable hands-on experience! – http://www.angelinvestor.ca/! ¨ Accelerator Programs! – Supported by angels and VC funds! ¨ Banks and Other Institutions! – Tier Ones traditionally donʼt fund early losses! ¨ Venture Capital Funds! – Different funds invest at different stages in the growth of a company! – Most funds also specialize in type of investment! – http://www.cvca.ca/! Pg 16!
- 17. Memory at Work ¨ Proof of Principle / Idea to Innova3on – www.ResearchNet.ca – www.nserc-‐crsng.gc.ca/index_eng.asp – www.cmf-‐fmc.ca/funding-‐programs – hNp://riccentre.ca/programs/venture-‐start/ – hNp://coralcea.ca/ ¨ NRC -‐ IRAP – hNp://irap-‐pari.nrc-‐cnrc.gc.ca/main_e.html ¨ Founda3ons: – Ontario Trillium Founda;on -‐ www.trilliumfounda;on.org – Gates Founda;on – www.gatesfounda;on.org – Imagine Canada -‐ hNp://www.imaginecanada.ca/node/22 Pg 17!
- 18. How to contact us:! ! Allyson Hewitt, ahewitt@marsdd.com! ! Twitter: @AllysonHewitt! ! Kerri Golden, kgolden@marsdd.com! ! Twitter: @KerriGolden! !