Altconf - Financing Startups

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The Financing gap for tech startups in South Africa and how we can solve it... and startups as the solution to upliftment

The Financing gap for tech startups in South Africa and how we can solve it... and startups as the solution to upliftment

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  • 1. Startup Financing The Financing Gap & Solution for South Africa justin spratt – 4 July 2009
  • 2. South Africa SA has…. Great people Right Culture Great ideas Enough money So what is the problem? www.twitter.com/justinspratt www.twitter.com/islabs
  • 3. Context: Recession • Global mainly • U versus V • SA should be out be early 2010 • But 3.5% growth wont solve our problems! www.twitter.com/justinspratt www.twitter.com/islabs
  • 4. Context: Poor Fundamentals • Government wont solve our problems • Enablement can help • Intervention by private business is critical www.twitter.com/justinspratt www.twitter.com/islabs
  • 5. The Good News • Michael Porter & Cluster Theory • Examples: • Bangalore • Silicon Valley • Detroit • Wall Street • Rwanda • Venice www.twitter.com/justinspratt www.twitter.com/islabs
  • 6. “All we need is deal flow for VC and Angel to start working… I am coming back soon to help with this” Vinny Lingham, June 2009 www.twitter.com/justinspratt www.twitter.com/islabs
  • 7. Finance Continuum www.twitter.com/justinspratt www.twitter.com/islabs
  • 8. ISLabs – Germination • 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
  • 9. The Idea: A Mashup Angel great, but we don’t have $ Incubator best model for IS Y- Combinator Google Projects Summer of Code www.twitter.com/justinspratt www.twitter.com/islabs
  • 10. Y-Combinator: Successes • 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
  • 11. Google Projects: Successes www.twitter.com/justinspratt www.twitter.com/islabs
  • 12. Thanks! www.twitter.com/justinspratt www.twitter.com/islabs