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Dario Mazzella

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Dario Mazzella

  1. 1. Dario Mazzella META Group www.meta-group.com d.mazzella@meta-group.com @DarioMazzella
  2. 2. Know your “Enemy” A lesson from the past The “Art of War” Chapter 3 - Strategic Attack: “…if you know your enemies and know yourself, you can win a hundred battles without a single loss. If you only know yourself, but not your opponent, you may win or may lose. If you know neither yourself nor your enemy, you will always endanger yourself.”
  3. 3. IT Start-up Lifecycle Revenue Sweat Equity, FFF & Business Angels BA’s Syndicates VC Funds, Strategic Alliances Public Market Birth of Next Generation of Startups Know your Partner The actors in the investment lifecycle Regional Funds
  4. 4. Investments in knowledge intensive companies are considered risky due to: o the intangible nature inherent their activities o the relevant investment required o perceived high default rates o lack of an established income stream Keep in mind that a risk capital investor o Wants the money back o Wants more (much more) than they invested o Wants to know when o Wants to measure the opportunity/risk Know your Partner The actors in the investment lifecycle
  5. 5. Early stage (Proof of concept funds, BAs, Seed Funds, Venture Capitalist) Pre-Seed Seed Start up Later stage (Venture Capitalist) Second round Expansion Capital Scope Company life-cycle Identification of Market potential Pre- business plan Prototyping And product development Business plan Commercial- scale manuf. And sales Company established but not invoicing Structuring commercial channels Building up turnover Continuous ideas/concepts/ products innovation Making Profits Know your Partner Financial Cycle and more
  6. 6. What further measures could help to increase access to funding and channelling of funds to those who need them? o support the development of regional co-investments funds of adequate size o simplified and harmonized regional cooperative framework between managing authorities o providing business angels with a European passport to facilitate cross border investments o providing mutual recognition of existing fiscal incentives for business angels investing freely across Europe How can the EU further develop private equity and venture capital as an alternative source of finance for the economy? o the use of co-investment funds within the European Structural and Investment Funds (ESIF) framework, could speed up the equity market and increase the diversification of the source of funding o exit opportunities for investors could be enhanced by supporting the development of Post Angels Funds, funded by Public and Corporate investments, which would help to reduce the length of time to exit Building a Capital Market Union Some proposals

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