Business Angels in Suisse RomandeClaude Florin, President A3 Angelshttp://www.a3angels.ch               Claude Florin clau...
Business angels in Suisse Romande• Overview of Business Angel networks in  Switzerland and their impact on the investment ...
Leveraging Swiss Innovation leadership                                          1                   2          3   4      ...
Technology startups : >150 / year(~50 in Romandie)CTI coaching                                                            ...
Seed funding ~ mountain guide spiritEvery year CHF 50M from BAs                        •   Business Angels evolution      ...
Seed investments in Switzerland (M CHF)300.0250.0                                                       +40%200.0         ...
Swiss Business Angels                                Investissement per capitaNetworks and members            CHF / hab• N...
Overview of Business Angels networks A3 Angels                                                                            ...
Overview of Business Angels networks Go Beyond                                                                       Inves...
Crowdfunding Germany                                                       Switzerland             >5M€ - 58 investments  ...
Overview of Business Angels networks Capital proximité                                                                CTI-...
Typical profile of Business Angels                         Mentors                            Seed investorsProfile       ...
Hands-on evaluation of opportunitieshttp://www.a3angels.ch   Claude Florin claude@a3angels.ch   13
Building a portfolio across technologiesExamplesSwiss                    Biotech,       Intraining,     Cleantech      Int...
Your health bank• Intraining services        – Generation, analysis, and          secure, storage of gene          sequenc...
Domosafety• Home safety systems  for elderly people       – Prevention of risks         and accidents       – Social care ...
Implantable drug delivery• Implantable wirelessly-  controlled pump• Dedicated to preclinical  research       –    No inje...
Micro-projectors• MVIEW ultraminiature  laser microprojector  based on MEMS.• Applications       – head-up (HUD) displays ...
Sharing experience with lead investorsInvestor education workshopshttp://www.a3angels.ch   Claude Florin claude@a3angels.c...
Education workshops                                            www.angelday.chRegister to next workshop on the web siteExp...
The 4 risks to mitigate             • Product risk                                                   • Technology, patents...
BA teamwork improves success Evaluation process                                                  CTI start-up process     ...
CTI Start-up survival rate > 85%                                                     CTI Label start-ups                  ...
Impact of “lead investors”Experience sharing                                                                   Impact     ...
Mentoring workshopsRaphael Rollier, Mentoring program managerhttp://www.a3angels.ch   09/04/2013   Claude Florin claude@a3...
Mentoring case study                                                        NanoLiveMentoring workshops                   ...
Mentoring case studyMentoring project                            Mentee : Thomas Leurent• Tag line : user-friendly,  high-...
Mentoring case studyMentoring project                                             Mentee : Nicolas Durand• Tag line : user...
Mentoring case study                                                              Mentee :Mentoring project               ...
Meet 20 start-ups at the Seed nightMay 22, 2013 at EPFL Forum Rolexhttp://www.a3angels.ch   Claude Florin claude@a3angels....
About A3 Angels• 50 events and     presentations       – 500 participants at         events,       – >600 A3 members      ...
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Business Angels in Switzerland

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This is a presentation based on 5 years activities of a Business Angel Club founded by alumni of the Swiss Federal Insitute of Technology, EPFL. Presented at a panel with INSEAD alumni sharing experiences with successful entrepreneurs Kelly Richdale IDQ, Martin Velasco Anecova , Pedro Bados Nexthink, Marco Boella - Lemotpics with assistance of Colin Turner Greentek ventures

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Business Angels in Switzerland

  1. 1. Business Angels in Suisse RomandeClaude Florin, President A3 Angelshttp://www.a3angels.ch Claude Florin claude@a3angels.ch 1
  2. 2. Business angels in Suisse Romande• Overview of Business Angel networks in Switzerland and their impact on the investment in early-stage technology companies• A look at case studies of startups supported by A3 Angels with investments, mentoring, Alumni network.• Suggestion of events and trainings sponsored by Alumni networks• Presented at panel by INSEAD and EPFL alumni, April 2013.http://www.a3angels.ch Claude Florin claude@a3angels.ch 2
  3. 3. Leveraging Swiss Innovation leadership 1 2 3 4 European Innovation Scoreboard 2013 INSEAD Global Innovation Index 2012 WEF World Competitiveness Index 2010-2011http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 3
  4. 4. Technology startups : >150 / year(~50 in Romandie)CTI coaching Domain registrations, admissions, labels 180 171 160 Information, 160 148 telecom, media 143 141 Biotech & Life 140 130 sciences number of companies 120 Medtech 96 97 100 100 88 91 92 Engineering 80 60 Interdisciplinary 40 25 25 24 26 27 22 Cleantech 20 0 Micro- Nanotech 2007 2008 2009 2010 2011 2012 year Source: CTI, Switzerland - Q1 2013 : 24-17-2 West : 11-6-2 Source: CTI Phase 3 – Q1 2013 N=99http://www.a3angels.ch Claude Florin claude@a3angels.ch 4
  5. 5. Seed funding ~ mountain guide spiritEvery year CHF 50M from BAs • Business Angels evolution – More professional – Co-investment with public funds (FIT, Fongit, ZKB) and regional VCs – Networked (CTI-Invest, SECA) Revenue / EBITDA BA Ns Angels syndicates Grants Crowd Banks, FFF funding Customers Venture Capital > CHF 50Mhttp://www.a3angels.ch Claude Florin claude@a3angels.ch 5
  6. 6. Seed investments in Switzerland (M CHF)300.0250.0 +40%200.0 7M 50M150.0 -50%100.0 50.0 0.0 2007 2008 2009 2010 2011 2013 Q1-Q3 VC start-up VC seed Business Angels Source: EVCA/PEREP Analytics, conversion €=1.22 CHF / EBAN 2007-2008 / CTI for 2013, A3 Angels 2009-2012http://www.a3angels.ch
  7. 7. Swiss Business Angels Investissement per capitaNetworks and members CHF / hab• Networks 15 10 5 0• > 300 investors• > CHF 50M / year• >40 investments € M/ M # deals/ M• Multidisciplinary Source : A3 Angels ; Nelson Gray, EBANhttp://www.a3angels.ch Claude Florin claude@a3angels.ch 7
  8. 8. Overview of Business Angels networks A3 Angels BAS Members >45, mentors + Members 58 (29 Suisse investors Romande) Structure Association alumni Structure Association, volunteers, mentoring et 2 directors investments seed Meetings/ye 10 diners Meetings 10 diners, seed night, ar /year trainings # 30 /year # 40 startups / year Evaluations Evaluations Portfolio 34 Portfolio 21 (7 + 16 mentoring), Notes Founded 1997, 2007 en > 1M CHF Romandie Notes Founded 2009Source: A3 Angels, web, in trainings indicativeshttp://www.a3angels.ch Claude Florin claude@a3angels.ch 8
  9. 9. Overview of Business Angels networks Go Beyond Investiere Members est. 50 CH (100 total) Members 2000 web subscribers Structure Company, 5 FTE, 5-10 Structure 3 Directors, groups, trainings, group crowdfunding platform, leaders 11% success fee, Meetings/ye 3 x 6 in Switzerland + quality due diligence ar web Meetings Online deal # 15/year + web /year presentation Evaluations # 8-15/year Portfolio 20 startups Evaluations Notes Cross border (I, FR, UK, Portfolio 13 startups, 4.2 MCHF USA) + social impact Notes Bureau GE, ZH investingSource: A3 Angels, web, in trainings indicativeshttp://www.a3angels.ch Claude Florin claude@a3angels.ch 9
  10. 10. Crowdfunding Germany Switzerland >5M€ - 58 investments Equity-based 6 • Investiere (Verve Capital) 5 4 • Founded 2010, 14 3 investments CHF 5M 2 • C-Crowd 1 0 – Founded 2011, 2 investments, CHF 0.7M Project-based (examples) – wemakeit.ch Total Seedmatch – 100-days.net Innovestment 8 otherSource: LMU Forschungsdatenbank Crowedinvestinghttp://www.a3angels.ch Claude Florin claude@a3angels.ch 10
  11. 11. Overview of Business Angels networks Capital proximité CTI-Invest Members 800 investors, Club des Members 77 repreneurs 60% HNWI, Structure Association, BA and 15% industry, 25% VCs, pitch organization management Meetings 5 + CEO day Structure Association, 2 /year managers, 12 business advisors, 6% fee # 60 / an Evaluations Meetings 10 startups /year Portfolio 100, 350 M CHF from all investors # 100 , mostly SMEs Evaluations Notes Training program, lunches / industry Portfolio >120 operations roundtables, CEO day Notes Founded 1995Source: A3 Angels, web, in trainings indicativeshttp://www.a3angels.ch Claude Florin claude@a3angels.ch 11
  12. 12. Typical profile of Business Angels Mentors Seed investorsProfile  Experienced  40-50+ entrepreneurs  professionals, career  Senior managers 50+ transitions  CXOs in SMEsInvestment  5- 10 days/year  >10’000 /year for 3 years, Accredited investor in team member of 1-2 Clubs  5 days/yearMotivation  Revenue  Network and advice in  Mentoring, support to area of focus young entrepreneurs  Revenue  Social network  Learning experience  Regional or technology  Technology interest interesthttp://www.a3angels.ch Claude Florin claude@a3angels.ch 12
  13. 13. Hands-on evaluation of opportunitieshttp://www.a3angels.ch Claude Florin claude@a3angels.ch 13
  14. 14. Building a portfolio across technologiesExamplesSwiss Biotech, Intraining, Cleantech Interdisci-startups Medtech telecom, media plinary EU startups Biotech & Life sciences Medtech Information, telecom, media Manufacturing Cleantech Interdisciplinary Finance Source: EBAN, quoted by OECD 2012 Source: Webhttp://www.a3angels.ch Claude Florin claude@a3angels.ch 14
  15. 15. Your health bank• Intraining services – Generation, analysis, and secure, storage of gene sequence data. – Easy access and clear, interpretable visualization.• Pre-symptomatic surveillance – breast and colorectal cancers, – cardiovascular diseases Source : A3 Angels – voir le site web de l’entreprise pour intrainings complèteshttp://www.a3angels.ch Claude Florin claude@a3angels.ch 15
  16. 16. Domosafety• Home safety systems for elderly people – Prevention of risks and accidents – Social care services management – Familly communication serviceshttp://www.a3angels.ch Claude Florin claude@a3angels.ch 16
  17. 17. Implantable drug delivery• Implantable wirelessly- controlled pump• Dedicated to preclinical research – No injections, – Dosing remote control – Targeted delivery <2 ml – multiple solutions refill – Short/extended periodshttp://www.a3angels.ch Claude Florin claude@a3angels.ch 17
  18. 18. Micro-projectors• MVIEW ultraminiature laser microprojector based on MEMS.• Applications – head-up (HUD) displays in vehicles, – helmet-mounted (HMD) displays, – smartphones and other mobile devices. – 3D sensing, printers and industrial sensors.http://www.a3angels.ch Claude Florin claude@a3angels.ch 18
  19. 19. Sharing experience with lead investorsInvestor education workshopshttp://www.a3angels.ch Claude Florin claude@a3angels.ch 19
  20. 20. Education workshops www.angelday.chRegister to next workshop on the web siteExperts Cursus• 17 lecturers, 8 Clubs * Dates on www.angelday.chhttp://www.a3angels.ch
  21. 21. The 4 risks to mitigate • Product risk • Technology, patents • Financial risk • Cash and financing management • Human factors • Entrepreneur + team • Market risks • Business model, customer demand Source : Peter Pfister, Start Angels, Presentation Angel Day, 2012http://www.a3angels.ch Claude Florin claude@a3angels.ch 21
  22. 22. BA teamwork improves success Evaluation process CTI start-up process 3% high ~ 40 flyers 50% Screening 25% CTI label 3% success 5 Evaluation (~ 170) ~120 ~ 30 ~20 Due diligence (~ 50) 14% runners ~4 80% fail Investment 5-10 %Source: A3 Angels estimations Source: adapted from CTI data 2012http://www.a3angels.ch Claude Florin claude@a3angels.ch 22
  23. 23. CTI Start-up survival rate > 85% CTI Label start-ups Companies on the markethttp://www.a3angels.ch 09/04/2013 Claude Florin claude@a3angels.ch 23
  24. 24. Impact of “lead investors”Experience sharing Impact – Strategies 80 % – Problem management 60 – Goodwill 40 20 0 less 1X to 5X to 10X to more than 5X 10X 30X than 1X 30X No industry experience Some industry experience Source : OECD 2011 “Financing high-growth firms : the role of angel investors” Sources: Kaufmann foundation 2007 survey of 539 BAs N=3000, NESTA-BBAA “Siding with the Angels”- May 2009http://www.a3angels.ch
  25. 25. Mentoring workshopsRaphael Rollier, Mentoring program managerhttp://www.a3angels.ch 09/04/2013 Claude Florin claude@a3angels.ch 25
  26. 26. Mentoring case study NanoLiveMentoring workshops Mentee : Yann Cotte• Tag line : “see the life in 3D” - microscopy to see living cells without dye.• Mentors : 2• Duration : 6 months• Sessions : 5, face to face• Topics : market, pricing, milestones• Feedback : http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 26
  27. 27. Mentoring case studyMentoring project Mentee : Thomas Leurent• Tag line : user-friendly, high-fidelity simulation software• Mentors : 4 + MIT VMS• Duration : 1 year• Sessions : 8 face to face• Topics : IP, fundraising, DD, management, sales• Feedback : http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 27
  28. 28. Mentoring case studyMentoring project Mentee : Nicolas Durand• Tag line : user-friendly allergy diagnoses promoting personalized medication• Mentors : 4 in 2 phases• Duration : 3 years• Sessions : > 12 x 1.5h• Topics : conflicts, network, friends• Feedback : http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 28
  29. 29. Mentoring case study Mentee :Mentoring project Samuel Sonderegger• Tag line : observation at nanoscopic scale for quality control of semiconductors.• Mentors : 2• Duration : 1 years• Sessions : 6• Topics : board creation• Feedback : http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 29
  30. 30. Meet 20 start-ups at the Seed nightMay 22, 2013 at EPFL Forum Rolexhttp://www.a3angels.ch Claude Florin claude@a3angels.ch 30
  31. 31. About A3 Angels• 50 events and presentations – 500 participants at events, – >600 A3 members more… informed• 25 mentors Innovation Promotion CTI• 25 investorshttp://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 31

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