Présentations Atelier H2020 - Tic & Santé - 10 septembre 2015

1. Susanna Varho – eitdigital.eu
STARGATE by iHub
High-growth Acceleration programme to help startups grow further
1

2. Susanna Varho – eitdigital.eu
Outline
1. iHub.eu the road by far
2. Stargate high-growth programme
3. iHub Fund
2

3. Susanna Varho – eitdigital.eu
About iHub
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EIT DIGITAL MISSION
- 6 EIT Digital nodes as the core of the iHub
network: Helsinki, Paris (+Sophia-Antipolis),
Trento, Budapest, Madrid and Ghent
(iMinds).
- Scouting at the footsteps of ARISE.
- Taking FIWARE approach.
RESULT
- 24 business incubators-accelerators
gathering entrepreneurs, investors,
mentors, industry representatives & public
innovators from Europe and beyond.
- Large accumulated experience and network
and thousands of startups accelerated.

4. Susanna Varho – eitdigital.eu
Common mission - Pan-European Super
Accelerator - STARGATE
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TARGET STARTUPS
Established startups that aim to
expand internationally
▪Traction
▪Founding team in charge
▪External investors on board
▪IP within the company
FOCUS
“SMART CITIZEN”
ICT startups with high-growth
potential, providing solutions
for different verticals:
Smart Cities, Smart Grid, eHealth, Security and
privacy

5. Susanna Varho – eitdigital.eu
STARGATE Selection Procedure
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STARGATE
Best
Startups
from
iHubs and
beyond
An
international
online iHub
contest with
an
independent
jury
iHub
A
…
iHub
N
12
startups
National
iHub ++
selection
National contests for
current and alumni
portfolio companies
of iHub members
1
Best startups
selected from Hub
portfolio and from
external applicants
compete at the
international contest
2
12 startups join
STARGATE
3
Nov 2015 Dec 2015 Jan - April 2016
Selectionprocessforthelocalincubationprogram

6. Susanna Varho – eitdigital.eu
STARGATE Proposition to Stakeholders
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CUSTOMIZED MENTORING
The program is industry, region and team-
background specific
SALES & FUNDING
Tailored access to industry and investors across
Europe and beyond
STARTUPS
QUALITY
3-stage selection process covering whole
Europe gathers the best ventures
SYNIDCATES WITH LOCAL EXPERTS
Co-investing with investors from other regions
reduces the risk
INVESTORS
EFFICIENT INNOVATION MANAGEMENT
Testing new business models and technologies
during pilot projects
CORPORATES
INNOVATIVE MINDSETS
Educating the employees by engaging them into
workshops & startup mentoring

7. Susanna Varho – eitdigital.eu
STARGATE Playbook
7
▪2 weeks at the local Hub setting up
milestones and a tailored acceleration plan
▪End of April – demo day
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
15- February Preparation at the local hub – milestones and an individual action plan 20 21
22- February 27 28
29 26 27 28 29 5 6
7 2 3 4 5 12 13
14 9 10 11 12 19 20
21 16 17 18 19 26 27
28 29 30 31 1- April 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1- May
2 3 4 5 6 7 8
9 10 11 12 8 14 15Demo Day
Preparation & execution of sales meetings
Fundraising
Online and offline workshops with selected
mentors
VISITING 2 - 4 HUBS DEPENDING ON THE
NEEDS AND FIT: London, Berlin, Helsinki, Paris
Company expansion abroad

8. Susanna Varho – eitdigital.eu
Corporate Benefits
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100.000,- Investment
Scouting
▪Market Research/ Market
Intelligence
▪Identification of innovative topics
in respective verticals
500.000,- Investment
Accelerator Participation
▪Jury Member
▪Participation in selected events
▪Insights into selected
technologies
▪Right to invest
▪Team mentoring
▪Access to selected partners of
the Accelerator Network
1.000.000,- Investment
Exclusive Accelerator
▪Final decision power over what
teams will be accepted
▪Active participation in all events
▪Detailed technology insights
▪First right to invest
▪Team mentoring
▪Access to Accelerator Network
▪Equity participation

9. Susanna Varho – eitdigital.eu
1st STARGATE Program
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1 Million 10 startups
3-5 hosting hubs
Money for travel
50k in cash
Price: 7.5% equity
BUDGET
200.000,- min.
SCOPE
6 startups
2-3 hosting hubs
400.000,- 10 startups
3-4 hosting hubs
OFFER
Money for travel
Money for travel
Goal of the first program – establishing network and program credibility

10. Susanna Varho – eitdigital.eu
Time Plan and Outcomes
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Oct Jan Apr July
Feedback
Program
online
200k LoI
250
applicants
100 investor
intros
100 client
intros
100 qualified
applications
Program
analysis
Sponsoring Promotion
National calls IntS
STARGATE DemoD
Feedback
Expected outcomes
15/2
15/1
1/11

11. Susanna Varho – eitdigital.eu
90% of 6%
Equity/
Startup
Startups
Two different finance strategies have been
discussed
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Corporate Sponsor (Strategy A) – Example: VCs and Angels (Strategy B) – Example:
Corporate
Sponsor
StartupsAccelerator
€ 3 Mio.
Investment
€ 1 Mio.
Admin Fees
€ 1 Mio.
profit
€ 20 k/
Startup
Investment
Shares
6% Equity/
Startup
(€ 330 k valuation)
€ 1 Mio.
Soft Loan
Syndicate of
Investors
€ 1 Mio.
Investment
Accelerator
€ 20 k/
Startup
Investment
Shares
10% of 6%
Equity/
Startup
Need to specify sponsoring packages for the first run

12. Susanna Varho – eitdigital.eu
A 3-month STARGATE program
SALES
▪Sales pitch / product demo training
▪Industry expert insights
INTERNATIONALISATION
▪Establishing an entity abroad
▪Tax advisory
FUNDING
▪Fine-tuning the relevant docs
ORGANISATION
▪Management up to date for scale
▪Measures and tools for distributed, international
organisation
CONNECTIONS
▪Matchmaking with investors & customers
▪Roadshows at various locations
▪PR activities across the network
SCALING YOUR PRODUCT
CUSTOMIZING YOUR SOLUTIONS
▪Compliance with data privacy laws
▪Quick language adaption
▪Guidance with system integration
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BIZ TRACK TECH TRACK
PERKS
▪Office space in strategically relevant locations
▪AWS, IBM, MS Biz Park (airlines would be
awesome), etc vouchers
▪Other ideas?
To be negotiated

13. Susanna Varho – eitdigital.eu
STARGATE: Open call for startups
• October 2015
• Advertised on :
• http://ihub.eu/
• https://www.f6s.com/
• Contact: simona.laza@inria.fr

14. Susanna Varho – eitdigital.eu
STARGATE Fund
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KPIs until July 2016
• Completing Fund legal structuring
• Equity structure should be confirmed by iHub
members
• Game plan for fundraising, execution – ready
and approved
• 18/9: Demo Day of the Stargate Fund
• The Fund to be ready for the first
STARGATE program…
Roadmap for 30 Sept
• 10 iHub members to invest in the fund
• 5 External Investors to join to invest in the
fund
• 5 External Investors to have a co-investment
agreement with the fund
• 5 “leading”/influential persons part of at the
Advisory Board
• One leading European Fund invested in the
iHub Fund

15. Susanna Varho – eitdigital.eu
First draft thoughts about the iHub Fund
Type: Limited type of company with shares and voting control. Structure preferably will not
be an NGO. Currently UK is the favorite. Country of the fund will be relevant for the
regulation of the fund structure!
Size: Looking for an initial round of 300KEuro, min 20K ticket. 5 highest investors will have
board seats. Ownership depending on investment (% of total of fund raise). Advisory board
with external key people. Investors limited to Ihub team members, either persons or
institutions that embrace the "share-crowdsourcing-emptying-pockets: we are better than
I"
External Investors: External investors will be welcomed, initially without any ownership, so
we could find a way to coinvest and carry-of-interest (20-30%) will remain in the hands of
Stargate Fund. Limited to professionals / companies with high risk investment profile.
Investment policies: Minority stake in startups in Stargate program. Part will be in equity
for services/part will be equity for investment.
Managed by a professional Fund Manager