Where’s the Money?Scalable Venture Capital Seed/ Funds Start-up Funds and Founders Business Private Equity Funds + Angels FFFLifestyle Starting-up Maturity
Money: Degree of Wisdom• FFF • Business Angels DUMB • Seed Funds• Bank Loans • VC Funds • Industrial Investors• Public (government) money, especially SMART grants
Smart Money: What’s in it?• Experience – Have seen all the mistakes you will make – Have developed best practices• Contacts – Industry – International• Loyalty & goal alignment• ... and Money...
Incubators & Accelerators• Business Incubator – An infrastructure-centered concept – Basically, a grant (subsidy) with a focus• Technology Incubator – A funding-centered concept – Attempt of “smart-inizing” of (mostly) public funding• Startup Accelerator – Boot camp of startups coupled with smart money
Funding Scene in Latvia• Direct Grants• Business Incubators (Regions + Riga Creative Industries Incubator)• Banks, including LHZB special programs• Non-bank/ junior lenders• Micro-Angels• Seed (Imprimatur Capital) and VC (BaltCap) funds
Summary: What’s the Strategy?• Decide on startup type• Decide on business model• Look for the resources’ needs and gaps to fill• Look for what’s going on in (your) funding market• Go out and raise financing STRATEGICALLY
A Word on TechHub Riga • TechHub is NOT an incubator! • TechHub is a collocation space (joint office) for tech startups, funded by memberships and sponsors • TechHub is a focal point of tech startup community in LV, active in promoting of startup culture