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FORMS OF FUNDING FOR STARTUPS

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Introduction to Business Angels, Venture Capital, FFF funding with up- and downsides. Review of the startup financing cycle and different types of funding connected to it.

Published in: Business
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FORMS OF FUNDING FOR STARTUPS

  1. 1. MICHAL GROMEK PONTUS ENGSTRÖM 1320 ENTREPRENEURSHIP AND OPPORTUNITY, 22TH OF JANUARY 2017 https://www.flickr.com/photos/jdhancock/ SOURCES OF FUNDING FOR STARTUPS WITH FOCUS ON CROWDFUNDING ENTREPRENEURS PERSPECTIVE
  2. 2. Picture:https://flic.kr/p/drV3LQ POTENTIAL QUESTIONS: I HAVE A BUSINESS IDEA, SO HOW DO I RECEIVE FUNDING? CAN I JUST UPLOAD MY BUSINESS IDEA ONLINE? HOW CAN THE STARTUP THAT I WORK WITH RECEIVE FUNDING? ROAD MAP FOR OUR 90 MIN TODAY: DIFFERENT TYPES OF FUNDING SOURCES FOR ENTREPRENEURS AND STARTUPS (FIRST 45) WITH A FOCUS ON CROWDFUNDING (SECOND 45 MIN) NO CANNED SOLUTION :)
  3. 3. Picture:https://flic.kr/p/drV3LQ OUR SESSIONS ARE TO SHORT TO GO INTO DETAILS IN DIFFERENT TYPES OF FUNDING, PLEASE USE THE VIDEO LINKS AT THE CORNER OF THE PRESENTATION TO WIDEN YOUR KNOWLEDGE. FINE PRINT: YOU DON'T KNOW YET IN WHICH SITUATION THE STARTUP THAT YOU WILL CHOSE ACTUALLY IS. POINTERS TO THINK AND EXPLORE
  4. 4. Picture:https://flic.kr/p/drV3LQ STARTUP FINANCING CYCLE (MODEL)
  5. 5. Picture:https://flic.kr/p/drV3LQ STARTUP FINANCING CYCLE (STAGES OF FUNDING) PRE-SEED FUNDING SEED FUNDING SERIES A / SERIES B SERIES C FOR MORE INFORMATION WATCH OUR PRESENTATION FROM LAST WEEK - LINK
  6. 6. Picture:https://flic.kr/p/drV3LQ STARTUP FINANCING CYCLE (MORE PLAYERS) REWARD BASED CROWDFUNDING INSTITUTIONAL FUNDING HEDGE FUNDS PUBLIC FUNDING
  7. 7. Picture:https://flic.kr/p/drV3LQ STARTUP FINANCING CYCLE (WHAT DO YOU PITCH) TEAM VISION MISSION TRIGGER EMOTIONS REPUTATION INSTITUTIONAL FUNDING HEDGE FUNDS PUBLIC FUNDING
  8. 8. Picture:https://flic.kr/p/drV3LQ STARTUP FINANCING CYCLE (WHAT DO YOU PITCH) TRACK RECORD PATENT APPLICATION TRACTION RETENTION DATA, DATA, DATA INSTITUTIONAL FUNDING HEDGE FUNDS PUBLIC FUNDING
  9. 9. FRIENDS FAMILLY FOOLS THEY JUST FUNDING, DON'T HOPE FOR STRATEGY TIPS CAN BE A NIGHTMARE TO DEAL WITH THEM - SO FAR LITTLE BUSINESS S EXPERIENCE (IT WAS FOR ME) IN CASE BUSINESS FAILS THEY CAN TAKE IT PERSONALLY DOWNSIDES COMMUNICATE RISK CLEARLY HAVE A SHAREHOLDER AGREEMENT DON'T ASK FOR MONEY THAT THEY CAN NEED TIPS: UPSIGHTS USE YOUR REPUTATION DON'T CHECK CREDIBILITY LESS BURACRATIC
  10. 10. BUSINESS ANGELS BUSINESS ANGEL CAN BE STRONG INDIVIDUALS, AND SOME GOT WEALTHY BECAUSE OF LUCK AND NOT NECESSARY EXPERIENCE. SOME BUSINESS ANGELS LIKE TO HAVE MORE CONTROL THAN WHAT FOUNDER ARE WILLING TO GIVE. DOWNSIDES SPEAK TO FOUNDERS OF COMPANIES WHERE BA'S HAS INVESTED INTO. REVIEW THE BA'S PERFORMANCE IN YOUR SECTOR TIPS: UPSIGHTS INVEST ON EARLY STAGE, LIKE TO TAKE RISK CAN OPEN DOORS WITH THEIR INFORMAL NETWORK MONEY IS NOT A LOAN (USUALLY) BUSINESSES OPERATE LONGER AND HAVE A HIGHER RATE OF RETURN LINK TO HOW TO RAISE MONEY FROM ANGEL INVESTORS (PLEASE SKIP FIRST 12 MINUTES)
  11. 11. VENTURE CAPITAL LONG DUE DILLENGENCE PROCESS TENDENCY 95% DISCOUNTED VALUATION METHOD STRONG PERSONALITIES SINCE 2009 > USUALLY LATE STAGE FINANCE (SERIES A+) DOWNSIDES UNDERSTAND HOW VC WORKS (PRESENTATION BELOW) REVIEW WHEN THEY HAVE BEEN RAISING MONEY AND IS THERE OWN PERFORMANCE TIPS: UPSIGHTS MAYBE SMART MONEY STRONG NETWORK LONGTERM PARTNER 4.2% OF VC EMPLOYEES ARE FEMALE* *SOURCE: http://fortune.com/2015/01/30/women-are-not-making-progress-in-male- dominated-vc-world-data-shows/ (ACCESSED 20th OF JANUARY) LINK TO HARVARD INNOVATION LAB ON HOW VC MAKE DECISION
  12. 12. Picture:https://flic.kr/p/drV3LQ HOW DOES VENTURE CAPITAL MAKE MONEY? 60 SECOND CHALLANGE :)
  13. 13. Picture:https://flic.kr/p/drV3LQ GET A PIECE OF PAPER READY AND A PEN OR THE ELECTRONIC VERSION OF IT :)
  14. 14. Picture:https://flic.kr/p/drV3LQ 60 SECOND BONUS CHALLANGE :) WHAT ARE MANAGEMENT FEES? HOW HIGH ARE PERFORMANCE FEES?
  15. 15. Picture:https://flic.kr/p/drV3LQ
  16. 16. Picture:https://flic.kr/p/drV3LQ 60 SECOND BONUS CHALLANGE :) 2% MANAGEMENT FEE 20% PERFORMANCE FEE
  17. 17. OTHER FORMS: CREDIT CARS, OVERDRAFTS = EXPENSIVE INFORMAL DEBT EQUITY INVESTMENT (ALMI INVEST) DEBT AT AROUND 6%-10% (ALMI) COLLATERAL GUARANTEE EUROPEAN FUNDING (FRAMEWORK7) VINNOVA (GRANTS GRANTS GOVERNMENT CAN BE VERY TIME-CONSUMING ADMINISTRATION MIN. SIX MONTHS LINK TO THE INITIATIVE OF THE EU COMMICION ON STARTUPS
  18. 18. TO MUCH OF THE FUNDING DESCREASES THE SENSE OF URGENCY AND FOCUS ON SALES (EXAMPLE: OUR FIRST GUEST SPEAKER) PLANNING FOR FUNDING IS ONLY AS GOOD AS THE QUALITY OF YOUR BUSINESS FORECAST TO SMALL FUNDING ROUND (PERMANENT FOCUS ON FUNDING - IT TOOK ME AROUND 70% OF MY TIME TO FOCUS ON FINANCE)
  19. 19. WHAT IS REALLY NEEDED AND WHAT IS A LUXURY SCENARIO? WHAT IS REALLY NEEDED HOW WILL THE FUNDING REALLY BE USED? WHAT SHOULD THIS BE USED FOR (BACKGROUND BIAS) BUSINESS MAJORS - INTERNATIONALISATION MARKETING - ONLINE OFFLINE MARKETING PUBLIC RELATIONS - BIASED ENGINEERING BACKGROUND - PRODUCT, PRODUCT, PRODUCT YOU CAN PLAN AND CONTROL EXPENSES BY NOT REVENUE PLEASE FOCUS ON SALES (!)
  20. 20. 2. CONSERVE YOUR EQUITY THIS IS THE ONLY ASSET YOU HAVE. WHAT SHOULD YOUR STARTUPS FOCUS ON GET YOUR STRATEGY RIGHT FIRST. FUNDING DETERMINE MIGHT DETERMINE YOUR STRATEGY INVESTORS WILL BE CONCERNED WITH: MARKET RISK PRODUCT RISK FINANCIAL RISK WHAT IS HAPPENING IN THE FIELD OF BUSINESS FIELD OF YOUR STARTUP? MONEY IS THE SOLUTION, WHAT IS THE PROBLEM. NEWS.GOOGLE.COM HTTPS://TWEETDECK.TWITTER.COM/# TRENDS.GOOGLE.COM
  21. 21. FIRST JOURNEY OF AIRBNB
  22. 22. Picture:https://flic.kr/p/drV3LQ NEXT STEPS DIFFERENT INVESTORS DIFFERENT MESSAGE THERE IS NO "ONE TYPE OF CROWDFUNDING" PLEASE WATCH THE VIDEOS, THAT YOU CAN ACCESS AS HYPERLINKS IN THIS PRESENTATION BEFORE YOUR FIRST MEETING WITH YOUR PARTNER STARTUP EXAMPLES OF PITCHES
  23. 23. 1320 ENTREPRENEURSHIP AND OPPORTUNITY, 20TH OF JANUARY 2017 Picture:https://flic.kr/p/drV3LQ SLIDES ARE ONLINE ON: SLIDESHARE.COM/ MICHALGROMEK (4:30 PM) CC LICENSE FOR DISTRIBUTION
  24. 24. Picture:https://flic.kr/p/drV3LQ BREAK UNTIL 15:15

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