BEN Investability Richard Pitkin


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BEN Investability Richard Pitkin

  1. 1. An Entrepreneur’s Perspective Investability March 29th 2011
  2. 2. Objective• Help entrepreneurs decide how to approach seeking investment EFFECTIVELY• Show investors what is going through those young entrepreneurs heads
  3. 3. Richard Pitkin• Serial Entrepreneur• rbase - IT Technology and Services Company• TwentyNinety - Intelligent Electronics for Photovoltaics
  4. 4. Themes• Funding options• Gaps• Presentation
  5. 5. Advice• Think big• Be ambitious• Leave that British reserve in Midsomer• Dig deep
  6. 6. Funding Options
  7. 7. Funding Options• Grants• FFF• Angels Grey Area UK• Funds• Venture Capital
  8. 8. Technology Pitch• You’re always pitching to a VC• UK technology is always undercapitalised• What would you do with a million?
  9. 9. GAPS
  10. 10. Gaps• Equity Gap• Crossing the Chasm
  11. 11. Equity Gap• You’ve raised the early capital up to £500k with FFF an angels• What next?
  12. 12. Equity Gap• “A lot of small businesses desire funding, but are not in a position to be invested in. Whether they are unrealistic about how much they are worth, or have not developed a strong enough team, or their core proposition is simply not scaleable, they have fallen short on some basic criteria. There is a great deal that we can do to help entrepreneurs help themselves.” Doug Richard
  13. 13. Crossing the Chasm
  14. 14. Gaps and Chasms• Hey – I’ll cross it when I get there• But a VC and knowledgeable funders are ready to help you cross it• Be ready and get your message right
  16. 16. Create value• Presentations cost money• Do your due diligence• Do your homework
  17. 17. Uniqueness• “You do not merely want to be considered just the best of the best. You want to be considered the only ones who do what you do.” Gerry Garcia
  18. 18. Presentations• Angel groups cost money – Do the due diligence – Do they invest? – What’s their history?• Take every opportunity to present• Take every opportunity for free training• Work out your team strengths• Your spokesperson is the shop window
  19. 19. Some brick walls I walked into• 16:00 - 17:00 BALANCE OF SYSTEMS • Guy Sella, SolarEdge, Israel • Brian Dupin, ActSolar, USA • Richard Pitkin, TwentyNinety, UK
  20. 20. San Francisco 2008
  21. 21. London 2010
  22. 22. Summary• Everybody wants you to be the next big thing. So project “next big thing”• Control your destiny• Chasms and gaps are for companies who can’t see further than the chasm. The penknife is part of the company kitbag• Take every opportunity to tell your story
  23. 23. SPark
  24. 24. March 2011
  25. 25. The SPark Approach• Common objectives – • A hub to enhance the economic strength of Bristol & Bath – build key sectors – aerospace, creative & digital, semiconductor, environmental, marine – enhance the opportunities for cross-sector collaboration • Open up access to cutting edge technologies – Point of Presence – High cost, specialised equipment – silicon chip design/bio-pharma – Eco-transport • A place designed to accelerate: – the profile of the Bristol-Bath region in the national and global marketplace – the commercialisation of science & technology – inward investment • On-going commitment to building and operating in a low carbon and sustainable environment • Local management integrated into commercial, social and cultural life of the region – Creating opportunities for new linkages across sectors and silos
  26. 26. My Vision• Interactions are where new ideas start. Quantum SPark makes serendipitous meetings more likely• Entrepreneurial companies see Quantum SPark as the only place to be to achieve commercial success• SPark is the Sand Hill Road of the UK
  27. 27. How?• Innovation Centre – Small, low commitment office space – High interaction – Premium IT and comms capability – Hot Desking and Virtual Office – Hub Offices for common interest companies• Grow-On Space – Lab and Office• Sustainability – BREEAM – EV
  28. 28. And Finally let’s not forget who’s already on the Park• NCC