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SUW Funding StartUps, Timo Ahopelto

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  • 1. 1 October 28, 2009 Serial entrepreneurs co-creating growth companies in health and Web Funding start-ups Timo Ahopelto Founding Partner timo@lifelineventures.com
  • 2. 2 October 28, 2009 Timo. Minulla on vanha vakava rytmihäiriö. R&D palaverissa olin saada sydänkohtauksen. Voinko mennä kotiin loppupäiväksi?
  • 3. 3 October 28, 2009 Timo. I still believe that your company is the best. You are financially stable and you have the best technology. EUR 2.5 million in due payments > 100 days. My CTO almost got heart attack.
  • 4. 4 October 28, 2009 Co-creating growth companies Petteri Koponen Timo Ahopelto Jarkko Joki-Tokola • Built four life sciences and telecoms companies to global market leaders • Raised in excess of €100 million in venture capital and angel investor funding • Built the best-performing venture-funded life sciences IT company in Finland • Worked in all the startup CxO roles in Europe, the US and Asia
  • 5. 5 October 28, 2009 Call us if... • Your idea is revolutionary, industry-defining or otherwise bigger than life • You will lead a global category • Your team masters technology, science or core processes • You believe it would be fun to work together to create a ’once-in-a- lifetime’ experience and significant value fast
  • 6. 6 October 28, 2009 Venture capital returns continue to slide Source: Cambridge Associates 2009 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Total value of paid-in capital by year
  • 7. 7 October 28, 2009 Reason? We have moved away from entrepreneurs funding entrepreneurs How it used to be Today
  • 8. 8 October 28, 2009 Call for experienced entrepreneurs to drive companies go international Select 2-3 start-ups /manager Managers work hands-on Managers invest into start-ups personally Public funding leverage from Tekes, Veraventure and Finnvera What did we decide to do in Finland by the Ministry?
  • 9. 9 October 28, 2009
  • 10. 10 October 28, 2009
  • 11. 11 October 28, 2009
  • 12. 12 October 28, 2009 About raising money...
  • 13. 13 October 28, 2009 Fund-raising is easy for passionate entrepreneurs with big idea and capability to execute It is difficult only for MBAs with business plans
  • 14. 14 October 28, 2009 Timing is everything. You need to raise against the next stage of expectations. Idea Alpha Real customers Real revenue growth $ $ $ $ $ Real traction
  • 15. 15 October 28, 2009 Amount is important. You need to raise to deliver the expectations. Idea Alpha Real traction Real customers Real revenue growth $ $ $ $ $ Can this really scale? Is this really validated by customers? Does this work? Where is your trend-line?
  • 16. 16 October 28, 2009 Story #2 Founding CEO of CRF Health – the company we just bought back from 3i plc and a top performing VC-funded Finnish IT company all time
  • 17. 17 October 28, 2009 CRF Health funding story for EUR 25 million Idea Alpha Real customers Real revenue growth $ $ $ $ $ Real traction 2000 * Stratos Ventures * Angels 2001 * 3i * Stratos Ventures Not capable to attract new investors 2002 * NVP * 3i * Stratos Ventures Bridge funding from the investors 2010 Founders bought 3i out
  • 18. 18 October 28, 2009 Business plan document is over-rated. Plans don’t close deals, results do.
  • 19. 19 October 28, 2009 Network. But understand that networks do not close deals either - and if you are good enough, you don’t need networks to start.
  • 20. 20 October 28, 2009 Have timeline and keep it. We will close this round by end of this year to have our product launched by end of Q1 next year.
  • 21. 21 October 28, 2009 Ending words...
  • 22. 22 October 28, 2009 Think what you would expect from someone you trust your money to?
  • 23. 23 October 28, 2009 The list can become quite simple... Good idea Good team Big market Capability to execute Return for the money
  • 24. 24 October 28, 2009 Serial entrepreneurs co-creating growth companies in health ad Web Contact us to talk more! Timo Ahopelto Founding Partner timo@lifelineventures.com

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