Funding Your Startup - given at TechHub
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Funding Your Startup - given at TechHub

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A presentation on how to fund a tech startup, given by Masabi CEO Ben Whitaker in September 2010 at a TechHub event.

A presentation on how to fund a tech startup, given by Masabi CEO Ben Whitaker in September 2010 at a TechHub event.

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    Funding Your Startup - given at TechHub Funding Your Startup - given at TechHub Presentation Transcript

    • Funding Your Startup
    • Banking, Remittance, Casino
    • Who are Masabi?
      • Masabi build mobile ticketing solutions
      • Founded 2002
      • Award winning and certified security
      • Ticket sales and delivery from mobile handsets
      • Projects:
      Mobile tickets for:
      Developed the UK’s RSP6 barcode ticketing standard
    • Technology Warning!
      Just because new technology cando something –
      Does not mean that customers will adopt it
      Does not mean that companies will make money from it
    • Do Users Like “new”?
      Normal people only try a new technology to do something…
      …if the old way of doing it is painful enough to make them try.
      At that moment: offer them a better way.
    • Funding your startup
    • Funding Sources – USA!
      Write Biz Plan
      Get Venture Capitalist
      IPO
      Buymegayacht!
    • Monetisation Strategy?
    • Biz Plan
      Business case
      How you and your partners make money
      User case
      Why people will change to use your stuff
      Route to market
      Ads? Partners? Not just “Social Media”
      Team
      Most important factor for success
      DE-RISK everything for the investor to get funding today.
    • Funding Sources
      Softer
      Day-job or your own savings
      Consultancy -> Product
      1st customer or trade investor
      GRANTS (great if you qualify, but...)
      Bank Loans (EU backed?)
      Angel Funding / High Net Worth
      Hard core
      Venture Capitalists (finally biting again)
      IPO (currently dead)
    • Masabi Story – 8 years!
      Spent our own money
      Consultancy to pay the bills
      Re-invested, focussed, leaner/meaner
      Worked for free to establish position
      Angel funding to ditch consultancy
      Now – VC funding to nail opportunity
    • Business Case, User Case
      People will only try new technology to perform a regular activity…
      …if the old way is painful enough to make them try something new.
      At that moment offer them a better way.
    • Ben Whitaker
      ben@masabi.com
      +44 7788 895894
      ExecutiveSummary