From concept to innovation talk by Reshma

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Transcript

  • 1. Capacity Building for Europe ’ s Next Generation Technology Entrepreneurs
  • 2. Building the European tech ecosystem since 2007
  • 3. What is Seedcamp A micro-seed fund that enables talent across every part of Europe to start up Recognized as the leading-edge platform to bring together tech entrepreneurs and mentors across Europe, US, and Asia
  • 4. A year-long program supporting seed companies in Europe Jan-Jun Mini Seedcamps TEAMS PROPRIETARY CRM DATABASE LUNCHES, DINNERS WITH MENTORS DEMO INVESTOR, BROAD INVESTOR DAYS 2.5 person team behind all of this TRIP TO VALLEY AND CONFERENCES 64 MENTORS 300 INVESTMENTS 12 OPEN APPLICATIONS PROCESS APPLICATIONS 1500 SHORTLISTED MINI SEEDCAMP TEAMS PROPRIETARY APPLICATIONS AND JUDGING SYSTEM ISRAEL, PARIS, LONDON, WARSAW, BERLIN, SWEDEN, LJUBJANA, KIEV STARTUPS 200 LOCAL ADVISORS 500 INVESTMENTS 2 Jul-Aug Open Applications Sept Seedcamp Week Oct-Dec 3 Months
  • 5. 33 companies across 17 geographies Kyko
  • 6. Identifying Market Opportunities Launch steps Go to Market – Product, Price, Distribution, PR Skills, processes, technologies exploited Startup to Success – Key Factors
  • 7.
    • Difficult economic times, Founder was a builder and was having a difficult time finding jobs
    • Looked at how marketplaces were developing on the Internet and applied this idea
    Identifying Market Opportunities
    • 2 Founders met (1 fashion expert and 1 superb technologist)
    • Realized technology and science was missing and needed in the fashion industry as the industry has gotten increasingly competitive
    • Founder ran outsourcing development teams in China. Was recruiting developers
    • Wanted to productize the initial screening process as there was a lot of repeatability in the process
    • As socialization of the web was starting to grow, saw the ability for marketers to leverage this better
    • Original idea was based on renting anything b/c we all have too much stuff
    • Saw the massive opportunity in mobile ad spend and the growth of Admob, Quattro, and others
    • Focused on the iPhone and Android opportunities
    • Sold the company to larger player who could really invest and drive the business with deeper pockets
  • 8.
    • Break the mold for any kind of hurdle faced. Being new means no or limited expectations
    • Launch product in fast small steps (next slide), keeping operations lean
    • Innovate on price (free), distribution (viral), PR (breaking news, a story, passionate users)
    • Test small markets, customer development, lean startup
    Go To Market
  • 9.
    • Small private alpha
      • 100 users
      • Validate product-market fit, understand use cases, core features liked/disliked
    • Private beta
      • 500-1000+ users
      • Understand usage behavior, WTP, scaling issues, inform product roadmap
    • Public beta
      • 1K-10K+ users
      • Continued scaling, show signs of growth, implement marketing basics, monetization may start
    • Public launch
      • 100sK-Millions of users
      • Monetization becomes more important, scale for stability, bring in efficiency
    • Growth
      • Expansion, user base growth
      • Growth from 10K ’ s Revs to 100K ’ s Revs to 1M Revs; profit focus
    Launch Steps
  • 10.
    • Talent
      • Best developers and creative minds – Talent loves to work on new challenging problems. Easier to recruit the brightest
      • Responsibilities given at all levels enhancing overall feeling of ownership
      • Advisors, investors, contacts all work for the business
    • Disrupt processes
      • Little bureaucracy as question and change the way things are done within the organization and within a value chain
      • Speed is of the essence
    • No inertia
      • Always adopting new technologies and not tied to old systems or way of doing things
      • Less NIH syndrome
    Skills, Processes, Technologies Exploited
  • 11.
    • Seek opportunities within your or your customers ’ problems to be disruptive
    • Test deployment in small markets, launch after
    • Challenge processes that you can make more effective – Hacking Work by Josh Klein
    • Vodafone Marketing – 3 years lots of learnings
    Take aways