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Preso provided to startups in Madrid

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As part of my visit to Spain visiting with startups, I provided this presentation as an overview of the US tech/VC ecosystem

As part of my visit to Spain visiting with startups, I provided this presentation as an overview of the US tech/VC ecosystem

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  • 1. US Tech/VC OverviewMadrid Network ChallengeOpinno
    Shai Goldman
    Silicon Valley Bank
    Twitter: @shaig
    Nov 30, 2010
  • 2. HQ in Bay Area, California – Est. 1983
    Technology, Venture Capital, Wine
    US, UK, Israel, China, India
    10,000 technology companies as clients
    50%+ of VCs backed startups are clients
    Commercial Bank (Lending, Investments, Valuations, FX)
    Silicon Valley Bank
  • 3. Macro Overview
    Less VC $
    Super Angel / Micro VC $
    Corporate VC $
    Less interest in cleantech, life science, semi
    More interest in software
    More M&A and Less IPO
  • 4. NASDAQ (a US stock market)
  • 5. Tech IPOs (Initial Public Offerings on US Markets)
  • 6. Less VC $ (amount invested by US VCs)
  • 7. 10 year returns = negative (below 0%)
    VCs target a 3X return on fund, 20%+ annual return
    Less interest by their investors i.e. Limited Partners (LPs)
    SWF (Sovereign Wealth Funds) are showing increased interest
    Exits have decreased, median acquisition is $55M
    Less VC $
  • 8. Smaller funds < $100M
    A few General Partners
    $1M rounds ($50K to $1M /investment)
    LPs are interested in these new funds
    Angels-> Super Angels-> Micro VCs
  • 9. Innovation is not from within
    Find and invest in innovation
    Cash available
    Intel, Google, Cisco, Best Buy, Disney, GM, Nike, Telefonica, Applied Materials, etc
    Corporate VC
  • 10. Cleantech (down)
    Very capital intensive, over funded in 2006/2007
    Life Science (down)
    Capital intensive, long investment period, regulatory issues
    Semi (down)
    Capital intensive, only a couple of acquires
    Software (up)
    Delivery: SaaS/Web, Mobile
    Clients: Enterprise, Consumer
    Billing: Subscription, Freemium
    Capital Efficient
    Tech Trends
  • 11. Mobile: iOS (Apple), Android (Google), RIM? MS?
    Infrastructure: HP, Cisco, VMware, IBM, MS
    Enterprise: SAP, Oracle, Salesforce, MS
    Consumer: Apple, Google, Facebook, Twitter, Amazon, Disney, Netflix
    Tech Trends
  • 12. $500K to $1.5M
    SW (mobile, consumer, enterprise, infrastructure)
    2+ Founders Full Time
    Initial Product Complete
    US (Bay Area, NYC, Boston, LA, Seattle, Austin)
    Seed / Series A
  • 13. M&A
    $55M Median Acquisition
    Apple, Facebook, Google, HP, IBM, Oracle, Cisco, Amazon, etc
    $1B+ IPO / M&A opportunities
    Facebook, Zynga, LinkedIn, Groupon, Twitter