Boot Strap Model 1

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Ideas for funding technology and export-focused, HSPU companies in Ireland using Irish Government and Bank Support: ei, banks, EU SME Funds, BES and private equity

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Boot Strap Model 1

  1. 1. BrógMhóirIall<br />Ideas for Bootstrapping a business in Ireland, with particular focus on Technology<br />
  2. 2. Background<br />With the success of the first Outvesting Round at http://www.outvesting.org/, I’m adding to the 1st bootstrap round with a model to increasing funds by 1000% within year one for<br />
  3. 3. Why Technology Based?<br />Author has a particular interest in Technology startups<br />Tourism, Travel, Retail and Property sector is over subscribed and under pressure<br />Further investment will displace jobs<br />Manufacturing is high cost setup with high cost base<br />Develop a technology – licence, exdport and exploit<br />
  4. 4. The problems...<br />Lots of Irish investor capital has been previously tied up in Property<br />FDI and EU funds have gone into capital projects where property acquisition is often the most expensive part<br />M50, LUAS, Regeneration, Road Network<br />Development of Industrial/Business Parks<br />Factories and (Grant Aid Funds, FDI expenditure)<br />
  5. 5. Traditional Investment Model<br />Private investments lean towards 2nd homes, tax incentive properties<br />Revenue Commissioners B.E.S. Scheme probably more awkward and has a very narrow application <br />Tech not as attractive as Retail and Tourism<br />
  6. 6. Bootstrap Funding Sources<br />Individual<br />No Technology or Product.<br />Personal Funds<br />€10 - €10,000<br />Personal Funds <br />And Friends/Family<br />€10 - €50,000<br />Bank (Personal)<br />€1,000 - €50,000<br />Local Government Agency<br />€1,000 - €9,000<br />Business Angel<br />€5,000 - €10,000<br />Client Order<br />€5,000 - €50,000<br />Individual. Bootstrap to company<br />New product, technology, invention, software application, idea<br />Bank <br />(Personal & <br />Investment)<br />€5,000 - €1,000,000<br />Enterprise Ireland<br />€19,000 - €250,000<br />Venture Capital<br />€100,000 - €5,000,000<br />BES<br />€10,000 - €50,000<br />Client Order<br />€5,000 - €50,000<br />Business Angel<br />€5,000 - €50,000<br />
  7. 7. Bootstrap Model<br />Idea & Conceptualisation<br />Yes<br />Idea Validation<br />Product Test/Market<br />Research<br />Do you need Government<br />Support<br />Is product new?<br />Is there demand?<br />No<br />Can it be supported by ei?<br />Yes<br />Private Capital and <br />Government Support<br />Private Capital route<br />
  8. 8. Time<br />Funding and Support<br />Actions and Activity<br />External Funds<br />Apply for ei Feasibility Study<br />Match up with a mentor, business partner or angel<br />Year 1<br />Hire accountants<br />And consultants and prototype partners<br />Apply for bank loan, EU funds and invest private capital<br />€10,000<br />-<br />€50,000<br />Use market research and product development students at 3rd level institutions<br />[ Private Equity<br />Gap ]<br />Apply for incubation<br />Complete ei<br />Training Programme<br />Year 2<br />Build Prototype<br />Prepare for ei R&D Application<br />Market Research<br />Use network to prepare BES, VEC<br />Apply for BES and Matching Bank Funds<br />Year 3<br />€100,000<br />-<br />€1,000,000<br />Prepare Market Strategy<br />Complete First Version of product for Market<br />
  9. 9. In Summary<br />Via @PatPhelan, Outvesting.org, <br />By taking an export-potential technology or high growth idea and matching a <br />

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