Vigo presentation updated_062011

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  • Tuloksetkumulatiivisiako. päivämääräänmennessäVuosisitten 16 m€, nyt 54 m€Ohjelmantavoite 200 m€ yksityisiäsijoituksiakuudessavuodessa
  • Yksityiset 55%, julkiset 45%Julkisetavustuksia, lainojajasijoituksia (Finnvera)Merkillepantavaa on ulkomaisetyksityisetsijoitukset, lupaahyvääjatkolle!

Transcript

  • 1. The VigoProgramme
  • 2. What is Vigo?
    Vigo is a new type of acceleration programme designed to complement the internationally acclaimed Finnish innovation ecosystem.
    The Vigo Programme assigns selected independent accelerator companies to provide drive, experience and financing opportunities for high-potential Finnish start-ups.
    2
  • 3. Key objectives
    The key objectives of the Vigo Programme are to:
    Motivate the best business developers to help the most promising start-ups grow into successful companies
    Ensure early stage funding for the target companies, increase their shareholder value, and make them attractive targets for venture investors
    Raise significant venture capital investments for continued expansion of the target companies after the acceleration stage
    Develop the Finnish venture capital market and bring more international acceleration and venture capital players into Finland
    3
  • 4. Programme Governance and Execution
    The Ministry of Employment and The Economy (TEM) decision to start The Vigo Programme in March 2009 in cooperation with Tekes* and Veraventure**.
    A Steering Group representing significant experience and expertise in the international growth business was nominated by the TEM in August 2009.
    Tekes coordinates the programme andProfictPartners Oy manages the execution of the program.
    *Finnish Funding Agency for Technology and Innovation
    **Currently Finnvera VC (The VC part of Finnvera investing public funds in early stage companies)
    8/6/11
  • 5. VigoAccelerators
    The Vigo Accelerators are private companies that are run by experienced entrepreneurs.
    The Accelerators offer their proven business expertise, funding, and extensive contact networks to the target companies.
    The Accelerators invest both money and time into the target companies and take on both a strategic and an operative role in the companies.
    The Accelerators have been selected from the best applicants in their respective fields in a public procurement process.
    5
  • 6. VigoAccelerators
    43 highprofileteamsapplied for Vigoaccelerator status at the firstround 2009
    Sixhighlyrespectedacceleratorswereselected and in operation
    Cleantech invest (cleantechventures)
    Food Process Innovations  (innovative human nutrition related businesses)
    KoppiCatch (ict, mobile)
    Lifeline Ventures (sciences and telecommunications)
    Lots (media technology)
    Veturi Venture Accelerator (ict)
    08/06/2011
    6
  • 7. HowdoesVigowork?
    7
    Companyappliesdirectly to the accelerator of it’schoice.
    Acceptance is based upon eva-luation of the business idea, team and sui-tability of the company for the program.
    The accelerator invests time and money and becomes a shareholder in the company
    The accelerator managers take a hands-on role in operations and biz development
    Fast Growth
    1.
    2.
    3.
    4.
    2009
    • The acceleration period lasts 18 to 24 months
    • 8. The accelerators’ main revenuemodel is based on the growth in the company’svalue at the point of exit. Monthlyfeesmayalsobeincluded in the model.
    • 9. The companiesareable to utilizeTekes’s and Finnvera’sfunding (grants, loans and investments).
    Description
  • 10. Great case stories! (1/2)
    Valkee
    http://www.valkee.com ; Light relief for SAD sufferers
    Supercell
    http://www.supercell.net/
    12 M USD in May 2011
    GreyArea
    http://www.greyarealabs.com
    LA-MMORPG, 1,9 m€ in Feb 2011
    Microtask
    http://www.microtask.com ; growdsourcing, 1 m€ in Aug2010
    Happy or Not
    http://www.happy-or-not.com
    Zokem
    http://www.zokem.com ; mobile analytics
    8
  • 11. Great case stories! (2/2)
    Netcycler
    http://www.netcycler.fi swapping “things” you own
    Savosolar
    http://www.savo-solar.fi solar collectors
    Foodie
    http://www.foodie.fm eat smart
    Senseg
    http://www.senseg.fihaptic displays
    Enersize
    http://www.enersize.com energy savings (CAS)
    Ruisvoima
    http://www.ruisvoima.fi healthy snacks
    Total portfolio of 33 companies
    (end of April 2011)
    9
  • 12. International investors
    10
    MHS Capital
    AMBIENT SOUND INVESTMENTS
  • 13. AngelInvestors
    11
  • 14. 12
    EstherDyson
    Esther Dyson is an active angel investor in a
    variety of start-ups, for-profit and otherwise,
    around the world. She also operates as the
    Internet’s court jester, a person of no institutional
    importance who somehow manages to speak the truth and to be heard when and where it matters. She does business as EDventure, the reclaimed name of the company she owned for 20-odd years before selling it to CNET Networks in 2004.
  • 15. What’s in It for Me?
    • For investors:
    • 16. Professionally qualifiedopportunities
    • 17. Experienced and committed management teams
    • 18. Highleverageinitialfunding (R&D and BD grants& loans)
    • 19. For start-upcompanies:
    • 20. Business competence
    • 21. Experience
    • 22. Drive for growth
    • 23. Customers, contacts and furtherfinancing
    >> Acceleratedgrowth, increasingvalue
    For the accelerators:
    • Significantpublicleverage in targetcompanyfinancing
    • 24. Financial returnswithsuccessfulexits
    • 25. Rewarding and challengingcareeroptions
    • 26. For the community
    • 27. Jobs and tax-payers
    • 28. Wealth and prosperity
  • ExcellentResultsAfter the First 18 Months
    Currently 6 accelerators (ict, web, health, media, cleantech, food) with totally 20 + managers workinghands-on with start-ups.
    33 start-ups in portfolio (forecast 50+ byend of 2011).
    Good deal flows and activeprocess in accelerators to grow portfolio and develop the companies.
    Morethan 50 m€raised, 2/3 private (60% foreign)
    First international A-rounds 2010, biggestsofar 7 Meuros.
    Severalhundred new jobscreated (direct and in-direct).
    14
    8 June 2011
  • 29. 8 June 2011
    15
  • 30. 8 June 2011
    16
  • 31. Future
    Short term
    New applicationround for acceleratorsannounced, totalnumber of accelerators 8 to 15 byend of 2011
    Accelerator funds to bridge the gap between public early funding and A-round
    >> more A-rounds >> more growth companies
    >> first funds 1H2011
    Connect and enhance deal flow sources
    Build and strengthen international network
    Create awareness and visibility for start-ups, accelerators and the program
    Long term
    Renew and invigorate early stage financing
    Attract new players (VC’s, accelerators) to Finland
    Strengthen international co-operation (visits, events, pitching, financing, exits)
    8 June 2011
    17
  • 32. Thankyou!
    For moreinformation:
    www.vigo.fi
    18