Matt Hatch Presentation

BCS/BEN Tech Startup School core 5: Funding Matt Hatch 22 Sep 2010

Example 1: Late stageFrontier Silicon• From low risk consumer electronics system integrator - other peoples IP• To high risk fab-less semi for mobile phones- capital/staff reqts• VC expectation already set - IPO• Part of team that raised Series D• Ripped up the business plan for mobile TV• Major lessons learnt – Understand the market and stick to what you know! – Don’t jump on the bandwagon – Beware of the trophy customer

Example 2: Mid stageProVision Communications• University spin out (Profs Nix and Bull)• Consultancy to VC backed start-up• World leader in wireless video• Major VC investor: SWV/YFM• Large number of small (HNW) investors• Many rounds of funding – short runways• Time to revenue and market readiness• Runway : running the company v raising finance

Example 3: Early stageGnodal• World class team, ground breaking technology, huge market• Raised significant capital during ‘nuclear winter’ of ‘08/’09• Lessons learnt – Tenacity, faith, consistency, patience… – Pursue all avenues for funding – Manage cash carefully and extend the runway – Get customers on board early

Example 4: MubalooMaximising your likelihood of success• Stick to the business model you know• Don’t try and change the world: paddle downstream• Market timing is key• Fast organic growth with low capital requirement• Team: Ready supply of smart and keen graduates• Take external funding as a last resort• Have fun!

Matt Hatch Presentation

by Science City Bristol on Nov 24, 2010

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Matt Hatch Presentation — Presentation Transcript