Startup Leadership Program Portugal - Closing KeyNote - May 2017

1. What we learn from our first exit
Stewart Noakes
Co-founder Canopy Lisbon
www.canopy.city

2. Reported Exits - 2016
#1 Silicon Valley 278
#3 London 82
#6 Boston 55
#19 Bangalore 23
#38 Lisbon No exits reported
Sources: US Chamber of Commerce, CB Insights, Startup Genome
www.canopy.city

3. Route 1 Football for Startups
www.canopy.city

4. There are many routes to success
www.canopy.city

5. www.canopy.city
Equity is expensive
50% 50%
2%12%
20%
31%
17%
17%
Start vs. Exit

6. Founder Teams don’t always last
• Equity at the start = major fail - reverse vest
• Good leavers and bad leavers
• Adding co-founders can be hard work -
what’s “equitable”?
www.canopy.city

7. Service providers help you
• Lawyers - Funding agreements, share purchase agreements,
shareholders agreements
• Accountants - robust financials and reporting
• Banks - Where to put the money, how to deploy it
• Financial Advisors - How to deploy the money
www.canopy.city

8. You are NOT as important as
you think
www.canopy.city

9. Great Founder CEOs
• Reverse plan
• Don’t try to do everything
• Have great advisors
• Keep themselves well
• Enjoy the ride!
www.canopy.city

10. Thank you
Stewart Noakes
Co-founder Canopy Lisbon
stewart@canopy.city
www.canopy.city