Meetup

MPBA Tech Talk
“Starting a New Tech Venture in Silicon Valley”
Winston Choe
Emerging Ventures
Wearables

Skully

Pristine

Meetup
Mobile

Cubit
Enterprise

Gaming

Tangible Play
Big Data

Warwick

T...
Venture Lifecycle

Meetup
IPO

Bridge / Mezzanine
Series-A Crunch

Later Stage VC

M&A

Acqui-Hire

Corporate / Strategic
...
Idea Generation

Meetup

Sources

Evaluation Criteria

•Market Trends (eg.
Mobile, Cloud)
•Venture Trends (eg.
Enterprise,...
Market-Research

Meetup

Market-Size: Largest potential
Value-Proposition: Most compelling problem
Customer Acquisition: L...
Market Size
Characterize the Market
•
•

consumer, business, advertiser, devices, industry, etc
start with more; focus on ...
Value-Proposition
Characterize the Problem
•
•
•

are you focusing on the most compelling problem?
is the problem Real and...
Customer-Acquisition

Meetup

Characterize the Channels to Market
•
•

Direct, Channel, Online, Social, Mobile, etc
start ...
Competition

Meetup
Team Building

Meetup

• Who do you need for the next 2 milestones?
(eg. Seed, Series-A)
– Engineers, Designers, Marketing...
Silicon Valley Incubators

Meetup
Business Model

Meetup

Freemium

Subscription

•Can we sufficiently scale Free users?
•Are there other ways to monetize
F...
Investor Pitch
Title
• Elevator Pitch
Problem
• Real and Urgent
Solution
• Clear Value-Prop and ROI
Business-Model
• Valid...
Preparation
•10/20/30 = Slides/Minutes/Font
•3 most important things for Investor?
•Why did Investor give us a meeting?
•S...
Meetup

MPBA Tech Talk
“Starting a New Tech Venture in Silicon Valley”
winston.choe@inno-scape.com
Starting A New Tech Venture in Silicon Valley 102413
Starting A New Tech Venture in Silicon Valley 102413
Starting A New Tech Venture in Silicon Valley 102413
Starting A New Tech Venture in Silicon Valley 102413
Starting A New Tech Venture in Silicon Valley 102413
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Starting A New Tech Venture in Silicon Valley 102413

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"Starting A New Tech Venture in Silicon Valley". This talk will cover the key factors to consider and best practices involved in starting a new tech venture, followed by a Q&A session. Areas of discussion will include Idea-Generation, Market-Research, Team-Building, Market-Validation, Business-Model and Funding

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  • Update on Nexus Program
    Discuss Plans for 2012
    More Nexus Meetups, Workshops (+ Accelerator)
    More Countries
    Other Sectors
  • The next key element in the SV Ecosystem are Incubators
    Incubators have traditionally been government-funded non-profits with a weak track-record.
    Over the past few years a dozen Incubators have been established that have led to a significant increase in the number of high-quality startups at the Seed Stage
    Incubator programs cover Concept -> Launch and generally include ….
    Y-Combinator (includes $150k funding, excludes Co-Working, SV-based)
    Founder Institute (Curriculum-centric, excludes Funding and Co-Working, 22 cities worldwide)
    PnP (Co-Working Centric)
    Vator.tv (Online-Media Centric)
    I am a mentor at Founder Institute and PnP
    Question: What are the Incubators in Malaysia and Region?
    Answer: Domain-specific (eg. TPM, Biotech)
    Question: What is their operating model?
    Answer: Co-Working Centric (low-rent)
    Question: What is working and not-working?
    Answer: Not enough mentorship
    Summary
    There are opportunities to connect the MSC Companies with Incubators in SV
    There are opportunities to setup Regional Incubator in Malaysia
  • Investment is usually Bootstrapped or Friends/Family
    Convince yourself that the venture is viable for the next Stage
    Question: How many MSC companies at Stage #1
    Questions?
  • Key-Factors for Investment in Stage #2
    Founders
    MVP Traction
    Social-Proof (Mentors, Key-Users, Lead Investor, Co-Founder)
    Question: How many MSC companies at Stage #2
    Questions?
  • Key-Factors for Investment in Stage #3
    Complete Team
    Market Traction
    Revenue Model
    Question: How many MSC companies at Stage #3
    Questions?
  • Angels & Incubators: around $100k
    Seed Funds: around $500k
    Small/Large VC Funds: around $2-3m
    Question: What are the types of Investment Funds in Malaysia and Region?
    Answer: Startup Funding + VC Funding
    Question: Are there any foreign VCs in Malaysia?
    Answer: Walden
    Question: Where are the gaps in Investment?
    Answer: Seed funding (RM $1-2.5m)
    Summary
    There are opportunities to connect MSC companies to VCs in SV
    There are opportunities to introduce Foreign Angels/VCs to Malaysia
  • Update on Nexus Program
    Discuss Plans for 2012
    More Nexus Meetups, Workshops (+ Accelerator)
    More Countries
    Other Sectors
  • Starting A New Tech Venture in Silicon Valley 102413

    1. 1. Meetup MPBA Tech Talk “Starting a New Tech Venture in Silicon Valley” Winston Choe
    2. 2. Emerging Ventures Wearables Skully Pristine Meetup Mobile Cubit Enterprise Gaming Tangible Play Big Data Warwick Twitch TV Digify
    3. 3. Venture Lifecycle Meetup IPO Bridge / Mezzanine Series-A Crunch Later Stage VC M&A Acqui-Hire Corporate / Strategic Early Stage VC Seed / Micro VC Angels / Crowds Savings, Friends & Family
    4. 4. Idea Generation Meetup Sources Evaluation Criteria •Market Trends (eg. Mobile, Cloud) •Venture Trends (eg. Enterprise, Wearables) •Research & Labs •Personal Pain Points •Hackathons •Market Potential •Lifestyle vs Feature/Business •Market Disruption •Differentiation •Viability
    5. 5. Market-Research Meetup Market-Size: Largest potential Value-Proposition: Most compelling problem Customer Acquisition: Lowest-cost channel Competition: Disruption or Asymmetry
    6. 6. Market Size Characterize the Market • • consumer, business, advertiser, devices, industry, etc start with more; focus on largest Find industry-reports • usually not as relevant Learn how competitors size the Market • web-site, press-release, blog Validation • • test assumptions surveys, interviews, focus-groups Meetup
    7. 7. Value-Proposition Characterize the Problem • • • are you focusing on the most compelling problem? is the problem Real and Urgent Avoid: “Your Solution Is Not My Problem” Clarify the Value-Proposition • • • how are users solving the problem today? why is your solution much better? how often would they use your solution? Validation • • test assumptions Prototype, Alpha Meetup
    8. 8. Customer-Acquisition Meetup Characterize the Channels to Market • • Direct, Channel, Online, Social, Mobile, etc start with more; focus on lowest cost Benchmark Customer-Acquisition • Sales-cycle, Deal-cycle, Search-Advertising, Social-Media, Mobile-downloads Learn from Competitors Market-Traction • • • • which channels did they use? how long did they take to get to X users? how much funding did they burn through? do you really think you can do better?
    9. 9. Competition Meetup
    10. 10. Team Building Meetup • Who do you need for the next 2 milestones? (eg. Seed, Series-A) – Engineers, Designers, Marketing, Sales, Operations • Agree with Founders on: – Roles/Responsibilities + Commitment + Timeframe • Pre/Post Incorporation Shares • Advisors
    11. 11. Silicon Valley Incubators Meetup
    12. 12. Business Model Meetup Freemium Subscription •Can we sufficiently scale Free users? •Are there other ways to monetize Free users to cover costs? •Are the Premium conversion incentives strong enough? •Consumer-market •Enterprise-market, Cloud-services Licensing •Enterprise-market, Desktop-SW •Technologies, Royalty-based Revenue-Share •App-Stores •Time-Horizon, Exclusivity Advertising + Affiliates •Do we have sufficient scale? Hardware •Devices, Accessories, Supplies
    13. 13. Investor Pitch Title • Elevator Pitch Problem • Real and Urgent Solution • Clear Value-Prop and ROI Business-Model • Validation Underlying Magic • Sustainable, Measurable Competition • Defensible, Asymmetric, Disruptive Meetup Sales & Marketing • Bottom-up TAM • Strong Strategy, Sound Tactics, Realistic Plan Finance • 3-year Forecasts, Key-Metrics, Comparables Team • Track-record, Differential Insight, Cohesive Status • Use-of-funds, Traction, Invest Now!
    14. 14. Preparation •10/20/30 = Slides/Minutes/Font •3 most important things for Investor? •Why did Investor give us a meeting? •Special questions, issues, landmines? •Investor organizational and people background? •Investor’s current efforts? •Pitch 10 times to friendlies & refine •Qualified introduction to the Investor •Goal of 1st meeting -> To get 2nd meeting Meetup
    15. 15. Meetup MPBA Tech Talk “Starting a New Tech Venture in Silicon Valley” winston.choe@inno-scape.com

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