Max Gurvits - CCC Startups - Bulgaria - Stanford Engineering - Mar 9 2015
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Max Gurvits - CCC Startups - Bulgaria - Stanford Engineering - Mar 9 2015
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Talk by Max Gurvits, Partner - CCC Startups (BG), at Stanford on March 9 2015, in our session on 'Romania & Bulgaria :: Gaming Startups & Venture Capital'. Website: http://www.StanfordEuropreneurs.org YouTube Channel: https://www.youtube.com/user/StanfordEuropreneurs Twitter: @Europreneurs
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Max Gurvits - CCC Startups - Bulgaria - Stanford Engineering - Mar 9 2015
- 1. Tech and startups in Bulgaria Max Gurvits Partner, CCC Startups @MxGur @CCCStartups European Entrepreneurship & Innova1on @ Stanford Engineering March 9 2015
- 2. @MxGur
- 5. Latest (and poorest) EU member
- 7. Bulgaria - Tech heritage John Atanasoff Atanasoff-Berry Computer
- 8. Bulgaria - Tech heritage Pravetz Computers
- 9. Bulgaria - Tech heritage Math and CS Olympiads
- 11. Bulgaria - 1987-1990: USSR bails out Gorbachev in Sofia, 1987
- 12. Bulgaria - 1990-2000: Crisis
- 13. Bulgaria - 1990-2000: Emigration
- 14. Bulgaria - 1990-2000: Emigration
- 15. Bulgaria - 2000-2010: Growth of IT outsourcing
- 16. Bulgaria - 2000-2010: Growth of IT outsourcing
- 17. Bulgaria - 2007-2008: Domestic market exits
- 18. Bulgaria - 2009-2014: International exits
- 20. Bulgaria - Local funds 2007: EUR 20m 2014: EUR 28m 2012: EUR 12m + 9m 2014: EUR 15m + 5m
- 21. Bulgaria - Venture activity 2007-now 110 companies 2/3 local founders 2/3 of that EU public funding No significant exits EUR 80m invested
- 22. Bulgaria - Tech challenges Attracting talent Investment incentives and experience
- 23. Bulgaria - Local market has 60% internet penetration 35% smartphone penetration 25% payment card penetration USD 7,500 per capita GDP
- 24. Bulgaria - Local market hasn’t Research Fundamental technology experience Business development skills Smart capital
- 25. Real addressable venture market 5 seed rounds per year 2 series A rounds per year 1 exit per 2-3 years
- 26. Minimal investor viability Expand geography Increase skillset Connect to markets
- 27. What we do – CCC Startups CCC Startups – investments and support Startup AddVenture – building communities
- 32. Ways to leverage tech Bulgaria from Silicon Valley Recruit from community of 500+ startup operators with minimum experience Add biz dev skills through co-foundership Invest in 1-2 annual deals with potential
- 33. Join me at SXSW on Saturday
- 34. @MxGur @CCCStartups Thank you! Max Gurvits CCC Startups