BRING	  YOUR	  STARTUP	  TO	  LIFE	        Accelerator	  Programs:	  Crea0ng	  a	  New	  Investment	  Dynamic	  An introdu...
Agenda	   •    The	  Problem	  	   •    The	  SoluCon	   •    Our	  Story	   •    How	  it	  works	    10/16/11	          ...
A	  new	  order	  is	  emerging	  in	  European	                 tech	  scene	                                            ...
We	  are	  living	  tough	  but	  exci0ng	  0mes	  In	  the	  past	  months,	  investments	  in	  entreprenuerial	  efforts...
Tradi0onal	  development	  models	  no	  longer	  apply	  The	  tradi0onal	  product	  development	  model	  is	  no	  lon...
4	  Steps	  to	  Epiphany	  and	  The	  Lean	  Startup	    In	  order	  to	  succeed,	  high-­‐tech	  startups	  need	  to...
Star0ng	  in	  Europe	  is	  s0ll	  hard	  •  Large	  language	  barriers	  that	  diminish	  cross	  border	  growth	  • ...
Tradi0onal	  VC	  models	  can’t	  keep	  up	  with	  innova0on	  The	  rate	  of	  change	  of	  technological	          ...
Accelerators	  are	  here	  to	  stay	                                                 THE	  SOLUTION	  10/16/11	      ©20...
A	  new	  investment	  model	  is	  in	  town	  Business	  accelerator	  programs	  have	  become	  the	  most	  efficient	 ...
The	  birth	  of	  the	  Accelerator	  Model	  In	  2005,	  Y	  Combinator	  revolu0onized	  the	  approach	  to	  startup...
The	  value	  proposi0on	  of	  the	  Accelerator	  Model	  The	  success	  of	  the	  accelerator	  model	  value	  propo...
The	  KPIs	  of	  the	  Accelerator	  Model	  Despite	  their	  short	  lifespan,	  both	  Y	  Combinator	  and	  Techstar...
The	  expansion	  of	  the	  Accelerator	  Model	  Y	  Combinator	  &	  Techstars	  success	  has	  not	  passed	  unno0ce...
Startupbootcamp	  &	  Tetuan	  Valley	                                                 OUR	  STORY	  10/16/11	      ©2011	...
The	  birth	  of	  Tetuan	  Valley	  Tetuan	  Valley	  was	  born	  to	  promote	  local	  Entrepreneurship	  and	  region...
Tetuan	  Valley	  today	  Tetuan	  Valley	  is	  posi0oned	  today	  as	  the	  2nd	  most	  pres0gious	  startup	  progra...
Tetuan	  Valley	  tomorrow	  We	  aim	  to	  make	  Tetuan	  Valley	  the	  first	  global	  pre-­‐accelerator	  program	  ...
The	  birth	  of	  Startupbootcamp	  Europe	  Startupbootcamp	  (Denmark)	  &	  Tetuan	  Valley	  (Spain)	  were	  two	  o...
Startupbootcamp	  today	  The	  objec0ve	  of	  this	  partnership	  is	  to	  launch	  Europe’s	  top	  accelerator	  pro...
We	  take	  up	  an	  important	  role	  in	  the	                 funding	  cycle	                                       ...
Startupbootcamp’s	  program	  overview	  Startupbootcamp	  is	  the	  first	  truly	  pan-­‐european	  accelerator	  progra...
Our	  value	  proposi0on’s	  structure	  Through	  SBC,	  we	  will	  advise,	  assist	  and	  monitor	  over	  30	  seed-...
Our	  secret	  weapon:	  The	  mentors	  We	  have	  managed	  to	  lure	  into	  our	  program	  some	  of	  the	  most	 ...
What’s	  in	  it	  for	  the	  mentors?	  The	  main	  key	  to	  success	  of	  StartupBootcamp	  resides	  in	  the	  pr...
Luis	  Rivera	  Gurrea-­‐Nozaleda	                   	  	                                    ...
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An introduction to accelerator funds and their role in stimulating entrepreneurship in Spain


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Talk at IE Accelerator Programs: Creating a New Investment Dynamic

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An introduction to accelerator funds and their role in stimulating entrepreneurship in Spain

  1. 1. BRING  YOUR  STARTUP  TO  LIFE   Accelerator  Programs:  Crea0ng  a  New  Investment  Dynamic  An introduction to accelerator funds and their role in stimulating entrepreneurship in Spain June 28th, 2011  
  2. 2. Agenda   •  The  Problem     •  The  SoluCon   •  Our  Story   •  How  it  works   10/16/11   ©2011  Startupbootcamp   2  
  3. 3. A  new  order  is  emerging  in  European   tech  scene   THE  PROBLEM  10/16/11   ©2011  Startupbootcamp   3  
  4. 4. We  are  living  tough  but  exci0ng  0mes  In  the  past  months,  investments  in  entreprenuerial  efforts  have  emerged  in  many  forums  as  one  of  the  principal  roads  to  economic  recupera0on     “Our  future  prosperity  in  part  depends  on  whether  or  not  we  are  crea7ng  an  environment  in  which  folks  can   test  new  ideas,  bring  new  products  to  market,  and  generate  new  businesses.    And  that’s  not  just  a  challenge   for  government.    It’s  a  challenge  that  requires  businesses,  and  leaders,  and  universi7es,  [and]  others  to  seek   out  new  ways  to  promote  entrepreneurship  across  this  country.”  ”  (January  2011)    Barack  Obama  President  of  the  United  States   “It  is  in  7mes  of  recession  when  people  come  together  and  are  more   open  to  working  together  [...]    let´s  not  forget  that  the  U.S.  economic   strength  in  the  world  is  due  to  it´s  entrepreneurial  capacity”  (January  2011)   Gene  B.  Sperling   Director  of  the  Na7onal  Economic   “Innova7on  is  a  key  factor  for  growth,  economic  recovery  and  to   Council  of  the  United  States   create  jobs.  [...]  Spain  has  a  very  interes7ng  future  in  the  world,  but  you  have   to  help  entrepreneurs  “  (December  2010)  Alan  Solomont    Ambassador  of  the   “We  will  overcome  the  crisis  with  entrepreneurs,  they  generate  wealth  and  United  States  to  Spain   employment,  as  well  as  social  work    not  sufficiently  recognized,  but   to  grow  you  need  a  framework  that  allows  entrepreneurs    to  start  a   business,  hire  people  and  prosper  "  (January  2011  )     Claudio  Boada   President  of  the  Circulo  de  Empresarios,  President  of  Aban7a-­‐TICSA  and  Atlas  Capital   10/16/11   ©2011  Startupbootcamp   4  
  5. 5. Tradi0onal  development  models  no  longer  apply  The  tradi0onal  product  development  model  is  no  longer  valid  for  launching  a  high  tech  venture  due  to  its  lack  of  itera0on  and  low  capacity  for  pivo0ng  Product  Development  Model   Misconcep0ons  of  the  Product  Development  Model   •  Lack  of  customer  development  =    lack  of  market  development     Concept  /  Idea   –  Beta-­‐testers  are  not  representaCve  of  the  market   •  Focus  is  on  execu-on  instead  of  learning  &  discovery   –  LimiCng  iteraCons  limits  flexibility   –  Sales  &  MarkeCng  strategies  are  launched  without  proper   Product  Development   knowledge  of  the  real  market  potenCal  of  the  product   •  Lack  of  proper  metrics  or  tools  to  revaluate  the  business  model   –  Decisions  are  based  on  market  forecasts  instead  of  tangible   Alpha  &  Beta  TesCng   goals  accomplished   –  ExpectaCons  are  based  on  untested  hypotheses  instead  of   tangible  results   •  One-­‐size-­‐does-­‐not-­‐fit-­‐all.  Not  all  startups  are  alike   Launch   –  A  staCc  model  does  not  allow  fast  adapCon  to  market  shiWs   10/16/11   ©2011  Startupbootcamp   5  
  6. 6. 4  Steps  to  Epiphany  and  The  Lean  Startup   In  order  to  succeed,  high-­‐tech  startups  need  to  shi  to  a  customer-­‐centric  model1  that  can   allow  them  to  shi  fast  and  effec0vely  coping  their  market’s  demands   Customer  Discovery   Customer  Valida0on   Customer  Crea0on   Company  Building   Marke-ng   Customer  Needs   Business  Model   Model   Validated   Validated   Validated   Rethink  hypotheses  of  business   model  •  Itera0ve  4  step  process  to   •  Itera0ve  process  to   •  Itera0ve  process  to  obtain   •  Natural  transi0on  from  a   monitor  the  evolu0on  of   understand  customers’   end-­‐user  affilia0on  to  our   learning  and  discovery-­‐ your  customers  needs  &   buying  &  consump0on   product  /  brand   oriented  Customer   problems  or  “pains”   paYerns   –  The  process  varies  with  the   Development  Team  into   –  State  pains’  hypotheses   –  Build  a  field-­‐tested  sales   type  of  startup  &  their   formal  departments  focused   –  Test  hypotheses   roadmap   market   on  execu0on   –  Test  product  concept   –  Test  sales  roadmap   –  The  objecCve  is  to  build  a   –  Verify  hypotheses  unCl   –  Verify  business  model   field-­‐tested  markeCng   model   validated   Notes:  (1)Based  on  Steven  G.  Blank’s  4  steps  to  Epiphany.  S.G.  Blank  is  an  Entrepreneurship  professor  at  both  U.  C.  Berkeley  &  Stanford  University  and  was  listed  a  one   of  the  Top  10  Influencers  in  Silicon  Valley  by  the  San  Jose  Mercury  News  in  2009   10/16/11   ©2011  Startupbootcamp   6  
  7. 7. Star0ng  in  Europe  is  s0ll  hard  •  Large  language  barriers  that  diminish  cross  border  growth  •  No  common  consCtuCon  laws  across  Europe  generate  uncertainCes  for  cross  border   investments  •  Minority  laws  in  many  countries  generate  uncertainty  to  invest  as  a  BA  •  Investment  culture  in  many  European  LaCn  countries  is  focused  in  more  tradiConal   industries  •  Tax  issues  across  some  European  countries  make  founding  a  startup  a  dangerous   hiking  adventure  •  Low  culture  of  Venture  Capital  strange  startups  in  early  stage  due  to  lack  of  financial   muscle  •  Startups  lack  the  24/7  preoccupaCon  culture  to  launch  a  business  •  The  concept  of  launch  and  iterate  is  sCll  in  its  infancy  in  Europe  generaCng  slow   moving  startups  •  Public  money  is  invested  too  dispersed  not  generaCng  clear  knowledge  hubs   10/16/11   ©2011  Startupbootcamp   7  
  8. 8. Tradi0onal  VC  models  can’t  keep  up  with  innova0on  The  rate  of  change  of  technological   The  implica0ons  of  this  accelera0on  are  innova0on  has  been  greatly  accelerated     transforming  current  investment  model     •  DrasCc  reducCon  in  the  window  of  investment   opportunity   •  Need  to  detect  talent  in  earlier  phases  in  order  to   invest   •  Need  to  search  for  flexible  mechanisms  of   development  and  investment  for  startups  and   investors.   —  New  Development  Model:   Launch  fast,  fail  fast,  iterate  fast  and  adapt  to  the   market  (demand)  constantly   —  New  Investment  Model:  The  rate  of  change  of  technological  innovaCon  is  the   Invest  earlier  (earlier  phases),  invest  more  broadly  Cme  requirement  for  the  emergence  of  a  new  disrupCve   (poriolio  diversificaCon),  share  risks  (more  co-­‐element  in  the  market  that  can  somehow  change   investment),  and  support  startups  through  the  rules  established  so  far.   “something  more”  than  just  money  (mentoring,   contacts,  ect.)   10/16/11   ©2011  Startupbootcamp   8  
  9. 9. Accelerators  are  here  to  stay   THE  SOLUTION  10/16/11   ©2011  Startupbootcamp   9  
  10. 10. A  new  investment  model  is  in  town  Business  accelerator  programs  have  become  the  most  efficient  formula  to  increase  the  success  probabili0es  of  startups   Tradi0onal  Investment  Model   The  Accelerator  Model   Seed  Investment   Incubator  space   Seed  money   Incubator  space   Mentoring  program   Mentoring  program   ü  The  accelerator  model  has  revoluConized  the  approach  to  startup  development  offering  startups  a  plaiorm  for   sustainable  growth  via  ongoing  mentoring  &  seed  funding   ü  Allows  investors  first-­‐hand  knowledge  of  new  &  upcoming  trends  in  innovaCon   ü  Benefits  the  ecosystem  by  generaCng  high  value  deal  flow   Goals:   Help  startups  get  trac-on   &   Lower  risks  and  -me  to  market  for  investors   10/16/11   ©2011  Startupbootcamp   10  
  11. 11. The  birth  of  the  Accelerator  Model  In  2005,  Y  Combinator  revolu0onized  the  approach  to  startup  development  offering  startups  a  plaaorm  for  sustainable  growth  via  ongoing  mentoring  &  seed  funding   •  Paul  Graham,  reknowned  Silicon  Valley  entrepreneur  and  investor,  founded  Ycombinator  (YC)   in  2005  senng  the  path  for  a  new  type  of  investment  fund   –  P.  Graham  founded  ViaWeb  in  ‘95,  creators  of  the  1st  web  applicaCon,  and  sold  it  toYahoo  in  ‘98  Origins   –  YCombinator  tries  to  cover  the  middle  ground  between  an  university  incubator  &  an  early-­‐stage   Venture  Capital  (VC)   Paul  Graham   –  In  2006,  first  YC  copycat  appears,  Techstars,  quickly  becoming  quite  successful  overpassing  YC  in   many  aspects   Idea  +  Teams   Investment   Mentoring  &  Development   Exit   Selec0on   •  Teams  of  candidates   •  Teams  selected   •  Program  duraCon:  3  to  12  months*   pitch  their  ideas   receive  on  the  first   •  Teams  receive  Model   •  SelecCon  based  on:   day:   –  Mentoring  in  all  subjects  related  to  their   –  InnovaCon  of  Idea   –  IniCal  seed   venture   –  Team’s  capability  to   investment   –  On-­‐going  monitorizaCon  of  their   execute  that  idea   –  Office  space*   progress   –  On-­‐going  advisory   •  Teams  pitch  their  demo  to  potenCal   –  Mentoring   investors  at  the  end  of  the  program     *  Not  in  all  exis7ng  programs *  Depends  on  the  program   10/16/11   ©2011  Startupbootcamp   11  
  12. 12. The  value  proposi0on  of  the  Accelerator  Model  The  success  of  the  accelerator  model  value  proposi0on  lies  in  its  alignment  with  the  core  necessi0es  of  a  startup  at  an  early  stage  of  development    and  its  poten0al  investors   Accelerator   Business  Angel   Incubator   Early-­‐stage  VC   Programs   Network  Seed  Funding  Office  Space  On-­‐going  Mentoring  Par0cipa0on  <  10  %  Collabora0on  amongst  poraolio  companies  Investment   By  batches  of  x   By  total  amount  of   Spontaneous   Spontaneous  Methodology   startups  per  year   money  per  x  years  Exit  Horizon   9  to  24  months   2  to  5  years   4  to  7  years   3  to  6  years   Always   Frequently   SomeCmes   Not  Frequent   Never   10/16/11   ©2011  Startupbootcamp   12  
  13. 13. The  KPIs  of  the  Accelerator  Model  Despite  their  short  lifespan,  both  Y  Combinator  and  Techstars  have  grown  very  fast  in  size  unfolding  impressive  returns  with  moderate  ra0os  of  failed  startups   Founded/   Investment Latest   Programs   Program  Size   Key  Success  Factors   Largest  Exits   Loca0ons   /  Ra0os   Milestones   Since  2005     Investment:   Currently:   Received   First-­‐mover  advantage   Omnisio     $  17-­‐20k  for   2  ediCons  per   $8,25M     ($15  M)   Office:   5-­‐8%  equity   year,  50+   funding  from   Access  via  mentorship   Loopt   Mountain     teams  per   Sequoia  VC   and  networking  to  top-­‐ ($5  M)   View,  CA   Failed  Ra0o:   ediCon   and  offer  of   Cer  entrepreneurs  and   Reddit   22%   Started  with:   $150K  in   Silicon  Valley’s  VCs  &   Dropbox   *Rest  sCll   1  ediCon  with   funding  to  all   SuperAngels  (i.e.  Ron   Scribd   operaCng  or   8  teams   selected   Conway)   Zenter   acquired   startups  by   DST     Since  2006   Investment:   Currently:   Total  Exits   Offers  office  space,   SendGrid     $  18k  for  6%   1  ediCon  &  10+   since  2007  =   hosCng,  PR,  legal   ($5.75M)   Offices:   of  equity   teams  per  city   $10  M;  Total   advisory,  introducCons   Oneforty   Boulder,  CO     per  year   investments   to  potenCal  clients  &   ($2.35M)   Seawle,  WA   Failed  Ra0o:   Started  with:   since  2007  =   mentoring  from  experts,   Filtrbox     Boston,  MA   13%   1  ediCon  w/  10   $3M   VCs,  angels,   ($1.4M)   NYC,  NY   *Rest  sCll   teams  in  1  city   entrepreneurs,  Techstars   operaCng  or   Alumni  and  the   ($1.2M)   acquired   Techstars  Network    Sources:;;  Crunchbase;  TechCrunch,  “Copying  Y  Combinator”  by  J.  ChrisCansen  (MBA,  U.  of  Cambridge),   10/16/11   ©2011  Startupbootcamp   13  
  14. 14. The  expansion  of  the  Accelerator  Model  Y  Combinator  &  Techstars  success  has  not  passed  unno0ced  by  the  interna0onal  community,  many  similar  models  have  arised  globally  in  past  few  years2   TV  Startup  School   Startupbootcamp   Wayra   Techstars   Madrid  &  Barcelona,  ES   Tech  WilcaYers   Europe   LatAm  &  Spain    (USA)   TX  (US)   Y  Combinator   Difference  Engine   iAccelerator   (USA)   Sunderland,  UK   Ahmedabad,  IN  2005   2006   2007   2008   2009   2010   2011   Seedcamp   SeedRocket   Seed  Accelerator     Bucharest  Hubb   HackFwd   London,  UK   Barcelona,  ES   Sydney  &  Singapore   Bucharest,  RO   Hamburg  (DE)   Member  of  United  Accelerators1   Note:  (1)  United  accelerators  is  an  internaConal  associaCon  founded  by  Startupbootcamp  &  Okuri  Ventures  that  gathers  some  of  the  most  successful  accelerator   programs;  (2)  Other  accelerator  programs  not  included  on  this  chart  can  be  found  on  United  Accelerators’  Twiwer  List  “Programs”  or  in  Jed  ChrisCansen’s  thesis  about   the  industry  .Sources:  United  Accelerators,  “Copying  Y  Combinator”  by  J.  ChrisCansen  (MBA,  U.  of  Cambridge),  Programs’  websites   10/16/11   ©2011  Startupbootcamp   14  
  15. 15. Startupbootcamp  &  Tetuan  Valley   OUR  STORY  10/16/11   ©2011  Startupbootcamp   15  
  16. 16. The  birth  of  Tetuan  Valley  Tetuan  Valley  was  born  to  promote  local  Entrepreneurship  and  regional  development  towards  technology  in  an  structured  manner  to  develop  clear  results  •  Tetuan  Valley  is  the  first  non-­‐for-­‐profit  pre-­‐accelerator  program  in  Europe,  which  consists  of  a  6-­‐ week  period  of  training  and  working  on  the  implementaCon  of  a  business  idea  •  Tetuan  Valley  is  build  on  a  model  in  which  we  seek  excellence  in  teams  with  a  conCnuous  pivoCng   of  the  idea  to  build  the  working  prototype  and  validated  business  model  •  We  seek  to  deliver  and  implement  the  necessary  values  to  our  teams  to  make  successful   entrepreneurs    •  Every  year  two  ediCons  of  Tetuan  Valley  are  organized,  the  Spring  session  (April-­‐May)  and  the  Fall   session  (October-­‐November)  •  The  events  are  coordinated  by  Tetuan  Valley  organizaCon  and  supported  by  the  experienced  team   of  Okuri  Ventures  our  sponsors  and  by  our  extraordinary  mentors   2009   2010   2011   2012   1st  Edi0on   2nd  Edi0on   3rd  Edi0on   4th  Edi0on   5th  Edi0on   Over    20   Over    40   Over    75   Over  150   MAD,  BCN  &  LCG   TV  Startup  School   applica0ons   applica0ons   applica0ons   applica0ons   Concept  and  Start   MAD   MAD&BCN   MAD&BCN   MAD&BCN   10/16/11   ©2011  Startupbootcamp   16  
  17. 17. Tetuan  Valley  today  Tetuan  Valley  is  posi0oned  today  as  the  2nd  most  pres0gious  startup  program  in  Europe  together  with  Startupbootcamp  Madrid  •  Tetuan  Valley  is  held  in  Madrid  and  Barcelona,   yet  our  community  is  growing  fast  and  next   openings  include  A  Coruña,  Zaragoza  and  others  •  We  are  beginning  to  awract  foreign  talent  (i.e.   UK,  Portugal  and  Singapore)  •  As  of  today,  we  have  offers  to  take  Tetuan   Valley  to  other  3  countries  for  2012  •  With  the  current  European  alliance  we  are   beginning  to  adapt  the  model  for  the  cross-­‐ cultural  barrier  •  We  have  over  70  confirmed  mentors  to  pool  •  Some  of  our  teams  are  beginning  to  be  financed   once  graduated  •  We’ve  formed  agreements  with  mayor   universiCes  in  Madrid  and  Barcelona  and   Madrid  &  Barcelona  &  A  Coruña   expanding  to  other  ciCes   10/16/11   ©2011  Startupbootcamp   17  
  18. 18. Tetuan  Valley  tomorrow  We  aim  to  make  Tetuan  Valley  the  first  global  pre-­‐accelerator  program  building  barriers  of  entry  in  alumni  network  and  cross-­‐border  culture  adapta0ons    •  Consolidate  Spain  an  build  in   Europe  and  LaCn  America   2012   expecCng  to  graduate  over  200   Belfast   2012   2012   teams  /  year  by  2013   Copenhagen   Mexico  D.F.   2012   2013   Zaragoza,  Extremadura,  Valencia,  Sevilla   Dublin,  Copenhagen,   Germany,  Austria   Poznan   Dublin   Mexico  City   Colombia,  Brazil   2012   Poznan  •  Build  the  necessary  tools  of   knowledge  base   2012  •  Sign  agreements  to  move  freely   around  startups  within  the   Madrid,  Barcelona,  A  Coruña,  Zaragoza,   ecosystem  with  no  addiConal  cost   Extremadura,  Valencia  &  Sevilla   to  entrepreneur   2012  -­‐  2013   10/16/11   ©2011  Startupbootcamp   18  
  19. 19. The  birth  of  Startupbootcamp  Europe  Startupbootcamp  (Denmark)  &  Tetuan  Valley  (Spain)  were  two  of  the  most  renowned  startup  programs  in  Europe   •  Founded  in  2010   -  1  ediCon  with  10  startups   Copenhagen   •  Denmark’s  first  accelerator  program   -  1st  Techstars  Global  Affiliate   -  Backed  by  Rainmaking  and  Okuri   amongst  other  investors   •  Finalist  of  Techcrunch’s  The  Europas   Awards  2010   •  Founded  in  2009   -­‐  3  ediCons;  over  40  startups   •  Not-­‐for-­‐profit  pre-­‐accelerator   program   -­‐  Backed  &  managed  by  Okuri   -­‐  Chapters  in  Madrid  &  Barcelona   Madrid  &  Barcelona   •  Finalist  of  Techcrunch’s  The  Europas   Awards  2010   10/16/11   ©2011  Startupbootcamp   19  
  20. 20. Startupbootcamp  today  The  objec0ve  of  this  partnership  is  to  launch  Europe’s  top  accelerator  program  with  3+  chapters  under  one  integrated  en0ty    •  One  brand,  one  company:  Startupbootcamp  Ltd.  •  Each  chapter  has  raised  3  funds  of  EUR  300k  to  finance  the   10  startups  of  each  local  program  in  2011/2012  batches   ₋  Spain:  June  to  September  run  by  Okuri  Ventures   ₋  Denmark:  August  to  November  run  by  Rainmaking   ₋  Ireland:  January  to  March  run  by  Bandwith  Ventures   (founded  by  the  founders  and  former  C-­‐level   execuCves  from  XING)  •  We  are  currently  expecCng  to  finance  the  120+  startups   from  all  over  the  world  that  will  go  through  each  of  the   chapters  of  Startupbootcamp  over  the  next  4  years  •  Synergies:   -­‐  Shared  fundraising  efforts   -­‐  Shared  communicaCon,  markeCng  &  PR  efforts   -­‐  Shared  pool  of  mentors  and  internaConal  network  of   contacts  (ambassadors)   -­‐  Same  methodologies,  materials  and  resources   -­‐  Same  selecCon  and  investment  criteria   -­‐  InternaConal  demo  day  at  the  end  of  each  year   10/16/11   ©2011  Startupbootcamp   20  
  21. 21. We  take  up  an  important  role  in  the   funding  cycle   HOW  IT  WORKS  10/16/11   ©2011  Startupbootcamp   21  
  22. 22. Startupbootcamp’s  program  overview  Startupbootcamp  is  the  first  truly  pan-­‐european  accelerator  program   ü  Each  year  10  great  internet  &  mobile  startup  teams  are  selected  from  200+  applicaCons  from   all  over  the  world  per  chapter   ü  Each  Startup  Bootcamp  chapter  gets  8%  equity  in  each  of  their  10  startups   ü  Each  team  is  offered  EUR  4,000  in  seed  funding  per  team  member  up  to  a  maximum  of   3  founders  per  team   Highlights   ü  Free  incubator  space  is  offered  in  each  ediCon  along  with  other  essenCal  ameniCes  promoCng   collaboraCon  and  synergies  between  the  teams   ü  50+  mentor  pool  per  chapter  formed  by  successful  entrepreneurs,  investors  and  domain   experts  that  will  work  intensively  with  the  teams  during  the  3-­‐month  program   ü  The  program  ends  with  both  a  naConal  and  an  internaConal  Investor  Demo  Day  where  teams   will  pitch  to  75+  internaConal  Business  Angels,  Venture  Capitalists  and  Corporate  Investors   Month  1   Month  2   Month  3   Investor   Shape   Build   Sell   Day   Format   ü  Refine  idea     ü  Release  Beta   ü  Validate  business   (data,  data,  data)   model   ü  Refine  business   ü  Engage  mentors   model   ü  First  customers  &   funding   10/16/11   ©2011  Startupbootcamp   22  
  23. 23. Our  value  proposi0on’s  structure  Through  SBC,  we  will  advise,  assist  and  monitor  over  30  seed-­‐stage  startups  per  year  ,  co-­‐inves0ng  through  our  Follow-­‐up  fund  in  all  winning  startups  that  raise  funding   Business   Na0onal   Issues   Progress  on   Model     Demo  Day  &   European   Kick  off   Review  &   ObjecCves   Project   Review  &   Demo  Day   End  of   Demo  Day  in   Write-­‐off   Program   Refocus   EvaluaCon   Review   Refocus   Training   Program   London,  UK   Assessment   Month  0   Month  1   Month  2   Month  3   Month  4   Month  12   Shape   Program  DBuild   evelopment   Sell   Follow-­‐up    and  Exit  Period   Startups  Performance  Repor0ng   Fund   Mentoring  Mee-ngs  (Op-onal)   Investors   Due  Diligence  Mee0ngs   Mentoring  Mee0ngs   Mentors   Due  Diligence  Mee0ngs   External   Due  Diligence  Mee0ngs   Investors   Follow-­‐ Co-­‐invest  in  all  startups  that  raise  funding  from  other  investors   up  Fund   10/16/11   ©2011  Startupbootcamp   23  
  24. 24. Our  secret  weapon:  The  mentors  We  have  managed  to  lure  into  our  program  some  of  the  most  interna0onally  renowned  entrepreneurs,  investors,  academics  and  top  managers  from  high  0er  companies  Some  of  our  confirmed  mentors   Arican  Wegter   Alejandro  Santana   Michael  Jackson   Co-­‐Founder  and  MD  at  LOVEFiLM   CEO  at  Perennius.  Board  member   Partner  at  Mangrove  Partners.   (sold  to  Amazon  for  EUR  300+  mill.).   at  Fides  Capital   Former  VP  at  Skype   Founder  &  CEO  of  GlibHippo   Gonzalo  M.  Villa   Gregor  Gimmy   Jeff  Coe   Technical  Secretary  Director  at   CEO  and  founder  at  Sclipo   Entrepreneur  and  MD  at  Linden   Telefónica  Int’l,  head  of  Wayra  &   Ventures   Former  legal  manager  at  Telefónica.   Francisco  Rivillas   Jenaro  García   Tanveer  Sharif   Strategic  Partnerships  Manager   Founding  partner  and  CEO  at  Grupo   Founder  of  Vopium   at  Google   Gowex   Inés  Leopoldo   José  M.  Joana   Luis  M.  Cabiedes   CEO  and  Partner  at  Mitsue  Venture.   Advisor  at  ESADE.  Former  Partner   Managing  Partner  at  Cabiedes  and   Board  Member  at  Ideas4all.  Former   at  IBM  /  PwC  Consul0ng   Partners.  Professor  at  IESE   Director  of  CEO  office  at  Telefónica   Mar0n  Kelly   Philipp  Hasskamp   José  Miguel  Herrero   Partner  at  IBM  Venture  Group   Co-­‐Founder  and  MD  at  Groupon   Founding  Partner  at  Big  Sur   Spain.  Former  execuCve  assistant  to   Ventures.  Founder  &  former  CEO  at     the  MD  of  T-­‐Mobile  Germany     LaNetro   10/16/11   ©2011  Startupbootcamp   24  
  25. 25. What’s  in  it  for  the  mentors?  The  main  key  to  success  of  StartupBootcamp  resides  in  the  program  of  con0nued  mentorship.  Mentors  support  the  development  of  our  startups  from  their  experiences.     Profile  of  the  Mentors   Benefits     ü  Explore  poten0al  advisory   posi0ons   Investors   ü  PossibiliCes  of  early  due   diligence   Successful   ü  Access  to  technology  both   entrepreneurs   innovaCve  and  cheap   Mentorship   ü  First-­‐hand  knowledge  of   interesCng  startups   Academics  and   opinion  leaders   ü One-­‐day  visit  at  our   ü  Early  detecCon  of  future   office:   trends   ü  30  min  presentaCon   ü  Direct  contact  with   Directors  of  big   ü  Private  feedback   entrepreneurial  talent   companies   session  with  each   team  (30  min)   ü  Warm,  fuzzy  feeling  of  helping   others   ü  If  interested,  follow-­‐up   meeCngs  with  the   startups  he/she  chooses   10/16/11   ©2011  Startupbootcamp   25  
  26. 26. Luis  Rivera  Gurrea-­‐Nozaleda     @luisriverag     Q&A  10/16/11   ©2011  Startupbootcamp   26  
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