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Point Nine at Hive61, Poznan January 2014
 

Point Nine at Hive61, Poznan January 2014

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Slides from Pawel's talk at Hive61 in Poznan that, amongst other things, covered our view on the Polish startup ecosystem.

Slides from Pawel's talk at Hive61 in Poznan that, amongst other things, covered our view on the Polish startup ecosystem.

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    Point Nine at Hive61, Poznan January 2014 Point Nine at Hive61, Poznan January 2014 Presentation Transcript

    • @ Poznan, 29.1.2014
    • About .9 The Angel VC: •Up to 1m EUR •Berlin-based •SaaS •Marketplaces About me: •Born/raised in PL •Moved to DE at 17 •Worked in finance •Startups since 2008 (angel, TE, Point Nine) Quite active in Poland (incl. previous private involvement of team):
    • Crowdsourcing works
    • Topics for today 1) Point Nine’s investment criteria 2) Going international 3) Polish vs. German / Berlin startup community
    • Investment Criteria
    • Criteria: stage = .9 Seed Series A Investment 
 Round Size €100k - €1M €1M - €10M Sources 
 of Capital Family & Friends
 Angels
 Grants
 Crowd-funding Venture Capital
 Super Angels Point Nine Capital invests between €100k and €1M during Pre- A and A rounds in companies at various revenue stages Later Stage
 Series B, C and D €5M - €25M Venture Capital
 Growth Equity Pre-IPO
 Private Equity >€20M Late-Stage VCs
 Corporate VCs
 Hedge Funds
    • Criteria: geo Company based in: •Europe •Outside: English speaking markets Target market: •Global / international / multi-local
    • Space: SaaS, marketplaces, et al. We love SaaS: •vast experience: •big trend, great business model if done right We love marketplaces and network effects: •examples: •hard to get scale, but durable and powerful once there Fast growing consumer Exceptions happen, esp. for amazing teams
    • Going International
    • Going International 1. “Flat” global / international product from the start • Esp. applicable for SaaS 2. Multi-local: • Esp. in marketplaces: Delivery Hero, Brainly, Docplanner
    • “International” product Examples: ! ! “Easy” to start, can be centralised for long time Typically competitive, expensive marketing Sales might still need to be local, esp. to larger accounts
    • “Multi-local” product Examples: ! ! Logistical challenges to launch local versions Frequent local competition, little global competition International scale helps win local markets Tough and expensive (but well possible) if physical goods involved (e-commerce)
    • 3 thoughts on the ecosystem in PL
    • 1. Talent: engineers vs. managers We are proud of our IT/analytical skills
    • 1. Talent: engineers vs. managers We underestimate the commercial side Lack of management/sales/marketing talent They are needed a lot! …but do not have to wear suits :-)
    • 1. Talent: engineers vs. managers …and sometimes it feels like this Can do this: Can’t do that: Which one is harder / more important?
    • 2. Decentralisation is good…but not in tech! No-one knows which is the key city in Poland for tech: !
    • 2. Decentralisation is good…but not in tech! Hubs are very important in tech due to cluster effects: • SV, Tel-Aviv, London, NY, Berlin best known • Urban, attractive areas to live in (young ppl!) • All skills, financing, entrepreneurial drive in one place • We all know this…
    • 2. Decentralisation is good…but not in tech! …and we are building technology parks in forests… ! Germany (and others in Europe) had similar ideas There was no political plan for tech in Berlin
    • 3. International isolation - PL scene is … Polish • Berlin is part of the international tech ecosystem • Is Poland? Certainly not yet, hopefully getting there • Internationality key - best practices, (commercial) talent
    • 3. International isolation - PL scene is … Polish We cannot reinvent all wheels ourselves ! ! ! ! ! ! esp. in commercial areas, like marketing, sales, general management.. !
    • 3. International isolation - PL scene is … Polish What can we do? Gov programmes (KFK) seem to promote international isolation (check www.pawel.ch) International investment works best - facilitate it! (a few internationally oriented VCs have appeared: Protos, Giza, Innovation Nest) Initiatives help: