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The State of Mexico's Startups 2016 Results | ALLVP Research

What is the startup founder experience like in Mexico? How does the local startup ecosystem compare to its U.S. cousin? These are critical questions, and it's important to get input on them from the founders driving change in Mexico's dynamic and vibrant startup landscape.

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The State of Mexico's Startups 2016 Results | ALLVP Research

  1. 1. 1"“? ALL, THE STATE OF MEX| CO’S STARTU PS Full Survey Results 2076
  2. 2. THE STATE OF i/ lEX| CO'S STARTU PS Introduction 15:: , 7.1, m sane‘. .. i;. 'm What is the startup founder experience like in Mexico? How does the local startup ecosystem compare to its U. S. cousin? These are critical questions, and it's important to get input on them from the founders driving change in Mexico's dynamic and vibrant startup landscape. To that end we replicated First Round Capital's recent "State of Startups 2015" survey to shed light on these topics. The Mexico landscape is still young and as such lacks a depth of data; comparison with other ecosystems can offer a valuable analysis. We surveyed a broad set of founders based or working in Mexico to gauge their sentiments and compare them against their peers in the U. S. Hopefully their answers can help other founders, investors, or even dreamers thinking of starting their company.
  3. 3. THE STATE OF i/ iEX| CO'S STARTU PS Full Survey Results 1. Do you expect it to get harder or easier to raise venture capital in the next 12 months? Much harder Somewhat harder Neither harder nor easier Somewhat easier Much easier 0 ALLVP l i’c2s»: «:: i’cl“i
  4. 4. THE STATE OF l/ lEX| CO'S STARTUPS Full Survey Results 2. How many firms did you pitch when raising your last round of funding? Inside round ' ' 10% <3 14% 3-5 ' 17% 6-10 21% 11-20 17% 21-30 ' 14% 30+ 7% Q ALLVPliT: TC”1iT’i
  5. 5. THE STATE OF l/ lEXlCO'S STARTUPS Full Survey Results 3. How long was your entire fundraising process for your most recent round? < 1 month ' 9% 1 month 0% 2 months 9% 3 months ' 12% 4 months 5% 4+ months 66% "$9 ALLVP i rc~<»: ~>: i‘C w
  6. 6. THE STATE OF l/ lEX| CO'S STARTUPS Full Survey Results 4. If you intend to go public, how long do you think it will be until your IPO? 1-2 years 7% 3-5 years ' 14% 5-7 years 26% 7+ years 21% No intent ' 33% “$2 ALLVP l i'r”. ‘:". ',C‘. T1l’C. "’i
  7. 7. THE STATE OF l/ lEX| CO'S STARTU PS Full Survey Results 5. Has your company ever raised a bridge round? I Yes INo O ALLVP I research
  8. 8. THE STATE OF l/ lEX| CO'S STARTUPS Full Survey Results 6. How do you think the M&A market for startups will change over the next 12 months? Far more acquisitions 14% Slightly more acquisitions ' ‘ 37% About the same acquisitions 33% Slightly fewer acquisitions ‘ 5% Far fewer acquisitions A 11% ALLVP l ici»? 1iT"T
  9. 9. THE STATE OF MEX| CO'S STARTU PS Full Survey Results 7. How many years do you think it will take for your company to become profitable? < 1 year — 17% 1-3 years 57% 3-5 years _ 14% 5+ years I 2% Already profitable — 10% 0 ALLVP l research
  10. 10. THE STATE OF 1/ lEX| CO'S STARTU PS Full Survey Results 8. How many founders does your company have? O ALLVP I research
  11. 11. THE STATE OF l/ lEX| CO'S STARTUPS Full Survey Results 9. If you have at least one co—founder, how would you define your co—founder relationship? I Best friends I Collegial I Don't have one I fired them I Strained 0 ALLVP 1 research 11
  12. 12. THE STATE OF l/1EX| CO'S STARTUPS Full Survey Results 10. How large is your team today? Just founders ' ' 10% <6 people 19% 6-20 people 3 45% 21-50 people ' ' 21% 51-100 people T 3% 101-250 people T 2% ALLVP l i‘c:1a*1i’r? *i
  13. 13. THE STATE OF 1/1EX| CO'S STARTUPS Full Survey Results 11. What is the male to female ratio of your team? All male 19% Mostly male A 33% Close to 50/50 Mostly female ' 14% ALLVP l i‘t”: ”3%f‘«1l/ C’ *1 A 34%
  14. 14. THE STATE OF l/1EX| CO'S STARTUPS Full Survey Results 12. Does your organization have a strategy to promote diversity and inclusiveness? Yes, formal policy A 10% Yes, not formal 45% No, but planned 14% No, no plans ' 31% ALLVP l i’r”. ET1*T'f‘: i’<. ”*’i
  15. 15. THE STATE OF 1/ lEX| CO'S STARTU PS Full Survey Results 13. How important is international presence to your business over the next year? 0 ALLVP I research
  16. 16. THE STATE OF l/1EX| CO'S STARTUPS Full Survey Results 14. Which platform are you the most focused on? . , 2% 2% 2% 2/. .§1A‘T_ 7*" r Mobile ‘ . “ Web 45%. E Desktop ‘ Hardware VR C Social Media Not a tech company Alt"/ . ALLVP l r’c: :c»1r‘m
  17. 17. THE STATE OF l/1EX| CO'S STARTUPS Full Survey Results 15. How many people do you think you are going to hire in the next 12 months? 0 ALLVP 1 research
  18. 18. THE STATE OF I/ IEXICO'S STARTU PS Full Survey Results 16. Approximately what percentage of your team is engineering? I >25% I 25-50% I 50-75% I 75-100% O ALLVP I research
  19. 19. THE STATE OF I/ IEXICO'S STARTUPS Full Survey Results 17. How much equity does a mid-level employee at your company receive? 0.00%-0.20% 0.21%-0.40% L, 14% 0.41%-0.60% T 4% 0.61%-0.80% 5% 0.81%-1.00% 5 2% 1.01%-1.20% . 1.21%-1.40% 0% 1.41%-1.60% 1.61%-1.80% 0% 1.81%-2.00% T 4% 2.01%-2.20% 0% 2.21%+ T. 2% .7% 5% ALLVP I r’{: i‘. =?? :I’C“‘i 57%
  20. 20. THE STATE OF I/ IEX| CO'S STARTU PS Full Survey Results 18. What is your most critical hire in the next year? Engineering Senior Engineering Junior Sales Senior Sales Junior Marketing Senior Marketingjunior Product Senior Productjunior HR Senior HRJunior Operations Senior Operations Junior Finance Senior Financejunior Other 0 ALLVP I research 20
  21. 21. THE STATE OF I/ lEXICO'S STARTUPS Full Survey Results 19. What is the average tenure of a non-executive employee at your company? Too early 36% < 1 year 16% 1-2 years 21% 2-3 years 19% 3-4 years ‘ 7% 4-5 years 0% 5+ years - 2% 0 ALLVP I research
  22. 22. THE STATE OF I/ IEXICO'S STARTU PS Full Survey Results 20. How much time do employees have to exercise their option after leaving the company? Immediately 30 days 3 months 6 months 9 months 12 months 1 to 3 years Can't exercise 0 ALLVP I rcsc= arch — 10% — 10% — 10% 2 2% 0% 18% — 8% 22
  23. 23. THE STATE OF I/ lEXICO'S STARTU PS Full Survey Results 21. What's your policy on employees selling secondary shares? I Free to sell anytime I Need Board approval I No policy Other O ALLVP I research
  24. 24. THE STATE OF l/ lEXICO'S STARTUPS Full Survey Results 22. Do you have annual performance reviews? O ALLVP I research I Yes, and tied to compensation I Yes, but not tied to compensation I No, we do them on a different cycle No 24
  25. 25. THE STATE OF MEXICO’S STARTUPS Full Survey Results 23. What's the hardest executive hire you've made? Engineering leader Sales leader Marketing leader Product leader Design leader HR leader Other 0 ALLVP I research 26% 17% — 8% — 6% I 2% — 6%
  26. 26. THE STATE OF l/ lEXICO'S STARTUPS Full Survey Results 24. Who is allowed to work remotely? 0 ALLVP I research I A select few I Anyone can I No one can Only engineers 26
  27. 27. THE STATE OF I/ lEXICO'S STARTUPS Full Survey Results 25. What time do most people get into the office? Before 9am - 16% 9am-10am 60% 10am-11am 1 17% I don't know ‘ 7% O ALLVP I research 27
  28. 28. THE STATE OF I/ lEX| CO'S STARTU PS Full Survey Results 26-29. Do you offer complimentary meals in the office? Breakfast Lunch Never — 96% Never 88% Most weekdays 0% Most weekdays — 9% Everyday I 4% Everyday I 4% Dinner Snacks 55% Never — 96% Never [/ lost weekdays | 4% l/ IOST weekdays ‘ 25% Everyday 0% Everyday — 20% O ALLVP I research
  29. 29. THE STATE OF l/ lEXICO'S STARTUPS Full Survey Results 30. In total, how many advisors do you have on your cap table (including options)? 1-2 29% 3-5 22% 6-10 ‘% A None 40% O ALLVP I research 29
  30. 30. THE STATE OF I/ lEX| CO'S STARTU PS Full Survey Results 31. How much equity did you give to each of your advisors on average? 0.01%-0.20% 0.21%-0.40% 0.41%-0.60% 0.61%-0.80% 0.81%-1.00% 1.01%-1.20% 1.21%-1.40% 1.41%-1.60% 1.61%-1.80% 1.81%-2.00% 2.01%+ We don't offer equity to advisors O ALLVP I resear’ch 30
  31. 31. THE STATE OF l/ lEXICO'S STARTUPS Full Survey Results 32. What's the price per month per square meter at your office this year? Mexico, DF Monterrey Guadalajara Queretaro Leon < 250 MX 250-500 M>< 501-750 M>< 751-1,000 MX < 250 MX 250-500 MX 501-750 MX 751-1,000 MX < 250 MX 250-500 MX 501-750 MX 751-1,000 MX < 250 MX 250-500 MX 501-750 MX 751-1,000 MX < 250 MX 250-500 M>< 501-750 MX 751-1,000 MX O ALLVP I research N N N N N N N N 100% Somewhere else in Mexico Chile Argentina Colombia U.5. < 250 MXN 250-500 MXN 501-750 MXN 751-1,000 MXN < 250 MXN 250-500 MXN 501-750 MXN 751-1,000 MXN < 250 MXN 250-500 MXN 501-750 MXN 751-1,000 MXN < 250 MXN 250-500 MXN 501-750 MXN 751-1,000 MXN < 250 MXN 250-500 MXN S01-750 MXN 751-1,000 MXN T 25% T 50% 0% T 25% 0% T 50% T 50% 0% 0% 0% 0% 0% 0% 0% M 20% — 40% T 20% T 20% 100% 100% 31
  32. 32. THE STATE OF I/ lEXICO'S STARTU PS About the Respondents 33. Where is your company headquartered? Mexico, DF 64% Monterrey 1 3% Guadalajara 1 3% Queretaro 1 3% Leon I 2% Somewhere else in Mexico j 7% Chile 1 3% Argentina I 2% Colombia I 2% USA W 10% 1. Survey n=60, O ALLVP I research
  33. 33. THE STATE OF I/ lEXICO'S STARTUPS About the Respondents 34. Are you CEO, Founder or both? CEO ' 2% Founder 17% Both ' 81% ALLVP I icsearrj 1
  34. 34. THE STATE OF l/ IEXICO'S STARTUPS About the Respondents 35. Are you female or male? 0 ALLVP I research I Female I Male 34
  35. 35. THE STATE OF I/ lEXICO'S STARTUPS About the Respondents 36. How old are you? 36-40 ‘ 7% 41-50 21% 51+ — 9% O ALLVP I research
  36. 36. THE STATE OF I/ lEXICO'S STARTU PS About the Respondents 37. Which sector best describes your company? Fintech Consumer Internet Mobility Enterprise Digital Health Energy Education Fund raising Consultant Logistics Finance IoT Telecom Tourism 0 ALLVP I research 36
  37. 37. THE STATE OF I/ lEXICO'S STARTUPS About the Respondents 38. How old is your company? <1 yr I 14% 1-3 yrs 59% 3-5 yrs 17% 5-7 yrs ' 7% 7-10 yrs 0% 10+ yrs 3% "$2 ALLVP I rc<»: ~>: r‘cs ‘I
  38. 38. THE STATE OF I/ lEXICO'S STARTUPS About the Respondents 39. What was your last funding round? Pre-seed 21% Seed 36% Series A 20% Series B 2 4% Series C ‘ 7% Bridge round I 2% Other — 11% 0 ALLVP I research 38
  39. 39. THE STATE OF I/ IEXICO'S STARTUPS About the Respondents 40. Do you have operations internationally? I Yes INo O ALLVP I research

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