Recipe for technology wealth???

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Talk originally titled "Enterprise Beyond the University Gates" given to researchers on the Sheffield Univesity Enterprise course

Talk originally titled "Enterprise Beyond the University Gates" given to researchers on the Sheffield Univesity Enterprise course

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  • 1. Enterprise beyond the university gates Ed French, Enterprise Ventures
  • 2. Agenda
    • Background to Enterprise Ventures
    • Assumptions about why you might be here
    • How to make money from technology start-ups
  • 3. EV Background
    • £50m under management and growing
    • All types of funding £50k-£2m
    • >40 Early-Stage Technology deals in the North of England
    • Specialist technology investment team= RisingStars
    RisingStars Technology Team
  • 4. Technology Portfolio Spread
  • 5. Starting Assumptions?
  • 6. Starting assumptions
    • You’re bright, hardworking, and knowledgeable
    • You have the best great idea
    • You want to be rich
    • Tomorrow would be fine
  • 7. Recipe for vast wealth
    • Take one huge market opportunity
    • Apply a brilliant new idea
    • Pour in one or more bright, hardworking founders to taste
    • Apply large dollops of venture capital
    • Bake in an oven of perfect serendipity for a few months
    • Serve the cake in generous slices
  • 8. Market Opportunity
  • 9. The idea
    • The idea is important
    • Rarely unique (1500 to date)
    • Some barriers to competitors are necessary
    • Differential advantage of >20%
    • IP from a University- look at licensing as well as spin-out
    Take one huge market opportunity Apply a brilliant new idea Pour in one or more bright, hardworking founders to taste Apply large dollops of venture capital Bake in an oven of perfect serendipity for a few months Serve the cake in generous slices
  • 10. People
    • Choose your co-founders with care
    • Hire slowly
    • Fire quickly
    • Keep it simple
    Take one huge market opportunity Apply a brilliant new idea Pour in one or more bright, hardworking founders to taste Apply large dollops of venture capital Bake in an oven of perfect serendipity for a few months Serve the cake in generous slices
  • 11. Venture Capital
    • Share of company in return for high-risk capital
    • Expect multiple rounds, founders typically end up with 7% at exit
    • Good VC’s add lots of value:
      • Hiring
      • Non-Execs
      • Market introductions
      • Strategy & Understanding
    • Check the VC really really understands your vision
    Take one huge market opportunity Apply a brilliant new idea Pour in one or more bright, hardworking founders to taste Apply large dollops of venture capital Bake in an oven of perfect serendipity for a few months Serve the cake in generous slices
  • 12. Serendipity!
    • Timing can be really hard to judge
    • Large customers can be erratic
    • Investors can be sheep
    • Resilience is key
    Take one huge market opportunity Apply a brilliant new idea Pour in one or more bright, hardworking founders to taste Apply large dollops of venture capital Bake in an oven of perfect serendipity for a few months Serve the cake in generous slices
  • 13. Probable Outcome
    • Worked hard
    • Made fantastic contacts
    • Built experience
    • Little cash first time!
  • 14. Contact Details
    • Edward French
      • Email [email_address]
      • Phone 07966 347407
      • Yuuguu ID [email_address]
      • Website www.rsgf.co.uk
      • Blog techgain.net
  • 15.