Ei starting a_greenbusiness
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Ei starting a_greenbusiness

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  • Not Eligible, Not High Potential No export potential i.e. customers will be based in Ireland Little growth potential The main promoters / strategic decision making not based in Ireland IP is not registered with an Irish company Importing products to sell in Ireland Not innovative – many competitors

Ei starting a_greenbusiness Ei starting a_greenbusiness Presentation Transcript

  • High Potential Start-Up Businesses John O’Dea May 2010 STARTING A GREEN BUSINESS Sources of Help
  • What I will cover …
      • State support for Start-up businesses
      • Green business start-ups
      • Typical challenges in the start-up phase
      • Enterprise Ireland
      • Eligible
      • Manufacture or internationally tradable service ;
      • High Potential
      • Usually based on technological innovation;
      • Export oriented;
      • Sales > €1m and 10 employees within 3/4 yrs;
      • Involving industry experienced team
      • Micro-enterprise
    Projects the State and EI invests in
  • A world of Green Business
  • Product or Service?
    • Products
    • Green building products
    • Green waste management products
    • Alternative energy products
    • Energy efficiency products
    • Natural, environmentally friendly food / clothing / household products
    • Recycling equipment
    • Recycled products
    • Services
    • Energy efficiency
    • Energy management
    • Environmental compliance
    • Ecotourism
    • Installation and servicing of renewable energy systems
    • Retailing green products
    • Importing and distribution
    • Retailing green products
    • Insulation; install / retrofit
    Sell to consumer? Sell to business?
  • Recent High Potential Start-ups
  • How Many? What sectors?
    • Sector
      • Software 26%
      • Telecoms 11%
      • Cleantech 10%
      • Electronics 8%
      • Food 7%
      • Engineering 7%
      • Medical devices 6%
      • Digital media 6%
      • Pharmaceuticals 6%
      • Consultancy 3%
      • Other 10%
      • Dublin 50%
      • BMW 20%
      • South, East, M-west 30%
    70 per year
      • Outcomes
      • annual sales : €1,480m
      • Total employment : 11,000
  • The Business Plan
    • The Market for the Product or service
    • Competition
    • Product or service technology
    • Financials
    • The management team
  • Indicators of Success
    • Experienced management team
    • Excellent product / service
    • Clear route to market
    • Well-funded or with access to funding.
    • Industry experience and contacts / relationships
    • Mix of skills
    • Importance of being revenue-oriented
    • Experienced sales and marketing professional in the team.
    Experienced management team
    • Mentors
      • Pick your mentors wisely – ask around about them
      • Learn from fellow entrepreneurs
      • Learn from customers
  • Excellent Product / Service
    • Absolute focus on clear value proposition from the outset
    • Consider the total product and service
    • Offer based on clear technological advantage .
    • Common issues;
    • Product development takes longer and costs more [Substantial redesign required due to failure to get customer traction].
    • R&D people develop technology – Sales and marketing people define products.
    • Common issues:
    • Failure to Understand the value chain and customer purchasing process
    • CEO lacks selling skills
    • Failure to qualify sales leads / pipeline
      • NB 1 st CUSTOMER REFERENCE SITE
    Clear Route to Market Sales skills training Trade fairs, fact finding missions etc Business Accelerator Programme
    • Issues;
    • Always takes longer and costs more. - Contingency plans!!
    • Focus on key milestones to leverage next round of funding
    Well Funded
    • Sources of Start Up Finance
    • Friends, Family
    • Sales
    • Seed Capital Scheme / BES
    • Debt [ Bank loans, overdrafts, invoice discounting]
    • Private Investors [Wealthy individuals, Business angels]
    • Venture Capital
    • Development Agencies
  • EI assistance
    • The support you can get from us depends on where you are.
    • Validating the Business Idea
    • Get to Investor Readiness
      • Build Business Plan
    • Raising investment
    • Growing the Business
    • Motivation and Encouragement
    • Contact EI or CEB Enterprise Start1
    • Challenging the Business Idea
    • [ Where motivation and encouragement meets realism and structure ]
      • Have I got what it takes?
      • What am I Selling and who will buy?
      • Technology – Build or Buy
      • Funding
      • Next Steps - Stop Go
      • Output – Clear business proposition and roadmap to progress
    Va lidating the Business Idea Enterprise Start1 Enterprise Start2
  • EI funding for High Potential Start-ups Funding to ‘explore new opportunities’ - Small grants
    • Funding towards ‘establishing a HPSU’
    • Equity
    The level of EI funding is determined by the potential exports and job creation;
  • Get to Investor Readiness Build Business Plan We offer a range of supports Mentor Feasibility Study Trade Fairs Market information Innovation Voucher Value Proposition Workshop BES Certification Seed Capital Certification Introduction to Business Angel Network Assistance with First Sale Reference Site Patent / IP Advice Technology Assessment Introduction to VCs Investor Ready Workshops Access to Overseas Offices Don’t lead with the money question!
  • Raising Investment
    • Enterprise Ireland Innovative HPSU package
    • Involves: Assessment of the Business plan
        • Management team and skills
        • R&D Plan
        • Market Analysis
        • Commercial Evaluation of the Project
    The level of EI funding is determined by the potential exports, the job creation and the cash needs of the business EI Investment in early stage projects is 100% equity package We co-invest – never more than 50%
  • Talk to US ……. www.enterprise-ireland.com