Aldo Cocchiglia - M31 - European Incubators in Silicon Valley - Stanford - Jan 3 2011


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Aldo Cocchiglia - M31 - European Incubators in Silicon Valley - Stanford - Jan 3 2011

  1. 1. European Incubators in Silicon Valley: the M31 case Aldo Cocchiglia, CEO – M31 USA January 3 2011
  2. 2. What does M31 do? M31 Italia turns innovative technologies into start- ups. M31 USA turns technology start-ups into successful global companies. 2
  3. 3. Where and When M31 Italia founded in Padova, Italy in 2006 Focus on incubation: working with entrepreneurs from seed funding to corporate exits M31 USA established in Silicon Valley in 2010 Initial focus: global expansion for Italian high-tech companies including start-ups and larger high- tech enterprises 3
  4. 4. M31 Operating Model Venture incubation - office space and office shared services Funding – from seed to 2nd + rounds Management advisor– from strategy to execution Global Business Development – from leads to contracts 4
  5. 5. M31 Focus Sectors we invest in: Medical Equipment, Embedded Computing, Optical Systems, Software and Web, Sensor Networks Core competences: Innovative Product Development, Strategic Management, Global Reach Services provided: from incubation to management, from international expansion to exit Deal flow: affiliation with universities, research labs, private companies, Angels, early-stage VCs., etc. Typical investment size: € 50 K to 2.5 M, with syndicate if needed 5
  6. 6. M31 Portfolio software & WEB, sensor networks, wireless I-net of things antennas biomedical instruments WEB services in eyecare embedded electronics & PCs WEB services adaptive optics 6
  7. 7. M31 USA Global Expansion Services • US entry planning • Global expansion planning • Start-up incubation in SV • Innovation tours for Italian companies and university programs • Exit strategy and Fundraising support for additional rounds Gateway to Italian Technologies • Technology scouting for US companies • Partner/supplier scouting for US companies • High-tech investments in Italy: start-up or product line acquisitions 7
  8. 8. M31USA Clients M31 Portfolio Companies University Italian Technology High-Tech Transfer Companies Offices 8
  9. 9. The CenterVue Case Incorporated in April 2008 - first startup for M31 Develops hw & sw for cost-effective screening programs to detect and treat ocular diseases that bring to blindness Shareholding: M31 46%, Seed investor 28%, Founders & Management 26% Total capital raised: $2.4M; headcount: 17 Developed two innovative devices approved by FDA in 2010, and a Web software platform 9
  10. 10. The CenterVue Case The Eye Knowledge network: a Web platform for eye care, i.e. online continuing education, expert consultation and telemedicine MAIA: early detection and management of Age Related Macular Degeneration (AMD) DRS: a fully automated, inexpensive, retinal camera for large scale screening of Diabetic Retinopathy 10
  11. 11. Highlights of the CenterVue Story Major positive impact on social costs of blindness in US and worldwide Short development time and very limited investment thanks to the “M31 model” 2010 sales: 120+ units Estimated 2011 sales: 1700+ units in 60 countries for $25+M (64% in US) Planning an exit via acquisition or IPO in US within 2 -3 years 11
  12. 12. M31 Italia Srl M31 USA, LLC Via N. Tommaseo 77 4655 Old Ironsides Dr. 35131 Padova – Italy Santa Clara, CA 95054 Ph: +39 049 781 1811 Ph: +1 408 988 8404 M31: Incubation of European Ideas, with European R&D, European job creation and US business development