ISLabs Genesis
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ISLabs Genesis

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- The genesis of IS Labs
- A mashup: Paul Graham’s Y-Combinator; Google’s 20% initiative and Google’s summer of code
- The Start-up’s Finance Continuum - The problem with Venture Capital in South Africa

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  • Jeff, Greg DC and I used to go to lunches and talk endlessly about our ideas…. So we decided to stop talking and do something!
  • SA has idea, people and money… so what is the problem? There is a mismatch…. Money is to far along finance continuum
  • SA needs more incubating…. VC hurdles are too onerous
  • Islabs is a mashup of google 20% project; y-combinator and Google Summer of Code (SoC)
  • Success stories of incubators
  • Success stories – what happens when you don’t incubate properly… gmail, FF, adwords and adsense all started in Google 20% Project…. And Drupal is often helped within Summer of Code (SoC)

Transcript

  • 1. ISLabs The Genesis justin spratt – 19 june 2009
  • 2. ISLabs – Germination
    • Brainchild of Fletch
    • Water-cooler chats… gazillion ideas
    • IS has some of the smartest people
    • We are best equipped private enterprise to help tech
    www.twitter.com/justinspratt www.twitter.com/islabs
  • 3. ISLabs – The Problem
    • SA has….
    • Great people
    • Great ideas
    • Enough money
    • So what is the problem?
    www.twitter.com/justinspratt www.twitter.com/islabs
  • 4. ISLabs – Finance Continuum Chasm www.twitter.com/justinspratt www.twitter.com/islabs
  • 5. ISLabs – The Idea
    • Angel great, but we don’t have $
    • Incubator best model for IS
    www.twitter.com/justinspratt www.twitter.com/islabs Y- Combinator Google Projects Summer of Code
  • 6. ISLabs – Y-Combinator
    • Loopt (2005), mobile social networking, on all the major U.S. carrier networks
    • Scribd (2006), a Web-based document publisher, partnered with Random House
    • Xobni (2006), an e-mail software maker, was demoed by Bill Gates, a $20 million buyout offer
    • Weebly (2007), a website authoring toolmaker, 1-million-users mark
    • Omnisio (2008), an online video annotator, acquired last year by Google, circa $15 million
    www.twitter.com/justinspratt www.twitter.com/islabs
  • 7. ISLabs – Google Projects www.twitter.com/justinspratt www.twitter.com/islabs
  • 8. ISLabs – The Team www.twitter.com/justinspratt www.twitter.com/islabs Fletch The Engineer Carps The Scientist DC The Creative The Finance Guy
  • 9. Thanks! www.twitter.com/justinspratt www.twitter.com/islabs