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Colin Kinner presentation - Qld Microsoft Innovation Centre - 20 June 2012

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Colin Kinner presentation - Qld Microsoft Innovation Centre - 20 June 2012

  1. 1. Resources available to startups in Queensland Colin Kinner Queensland Microsoft Innovation Centre 20 June 2012
  2. 2. Terminology• Startup: A temporary organisation whose purpose is to find a repeatable and scalable business model. . . Steve Blank – Objective is to become more than a source of income for the founder(s) – Typically founders realise a return through an exit / liquidity event – Focus is on speed and scale – Different to a “small business”
  3. 3. Co-working spaces• Space and basic facilities for startup teams• May provide some services• Objective is to build a sense of community• Desk space @ $350 + GST per month• Internet, printing, coffee machine, meeting rooms, visitor parking• Informal mentor network• Reciprocal relationships – SYD, MEL, SFO• Regular startup-focused events
  4. 4. Incubators• Owned by QUT • Owned by University of Queensland• Supported by Qld Govt • Funded by Qld Govt• Focus on creative sectors: • Space at Long Pocket fashion, design, new media, • $20k grant program – for for product film, TV, music development and/or business• Space at Kelvin Grove consulting• Interest free loans to $15k • Mentoring program• Commercial support programs • Events and bootcamps• Events
  5. 5. Incubators (cont)• Owned by Griffith University • Owned by University of Sunshine• Supported by Qld Govt Coast• Office space at Griffith Uni Gold • Supported by Qld Govt Coast campus • Office space at USC (Sippy Downs)• Experienced team • Structured mentoring program• Mentoring program • Events
  6. 6. • Microsoft software, tools and support• Workshops• Networking events• Access to global Microsoft network• Partnering with other supporters of startups
  7. 7. Networking groups Brisbane Lean Start-Up• 500 members across all groups• Expert speakers• Network with other entrepreneurs, developers, investors, subject matter experts
  8. 8. Online resourcesPollenizer universal investor pitch deckhttp://pollenizer.com/universal-startup-pitch-deck/Spreadsheet template for startups – scenario projections, cash flow and cap tablehttp://pollenizer.com/basic-startup-financial-scenarios/How to find a good domain namehttp://pollenizer.com/how-to-find-a-good-domain-name/LinkedIn groups:Gust investor matchingwww.gust.comBusiness Model Canvaswww.businessmodelgeneration.com
  9. 9. Business Model Canvas
  10. 10. InvestorsNon-affiliated HNWs
  11. 11. Grants / government fundingCommercialisation grants R&D Tax Incentive Export Market Development GrantsSkills and Knowledge • 45% refundable tax• $50k [80:20] for specialist offset (equivalent • Reimburses up to 50% advice and services to a 150 per cent of eligible exportProof of Concept deduction) promotion expenses• $250k [50:50] to prove • Activity must above $10,000 commercial viability qualify as eligibleExperienced Executive R&D• $350k [50:50] to engage CEO / senior execEarly Stage Commercialisation• $2m [50:50] to take a new product / service to market
  12. 12. Crowd-funding
  13. 13. Reading
  14. 14. Mentoring
  15. 15. Types of mentoring Part of a Unstructured structured Paid (free) program Consultants,Personal / Friends, family, ? psychologists, lifeholistic colleagues coachesManagement / Colleagues, other HR consultants, Some incubatorsleadership professionals leadership coaches BusinessSpecific business Friends, Most incubators, consultants,issues River City Labs M4G lawyers, accountants etc
  16. 16. Characteristics of good mentoring• Mentor(s) with experience relevant to your company• Interests are aligned• Confidential• Entrepreneur willing to listen and act on advice• Focused on high level business issues• Generally not a subject matter expert (lawyer, accountant etc)• Not a replacement for professional services
  17. 17. Where do I find a good mentor?• Unstructured – (Friends, family)?, professional colleagues, River City Labs• Structured – Incubators, M4G• Paid – Specialist consulting firms
  18. 18. Mentor motivations• Give something back to aspiring entrepreneurs OR• Identify investment opportunities OR• Identify Non-Exec Directorship opportunities OR• Raise own profile OR• Promote own professional services
  19. 19. Entrepreneur motivations• Access expertise you need to grow your business• New perspectives / insights• Avoid costly mistakes• Sanity check / sounding board• Tap into networks• Free resource
  20. 20. Mentoring caveats
  21. 21. Questions to ask yourself• Why do I a want a mentor?• What issues do I need help with?• Do I need general guidance, moral support / encouragement, specific advice or a co-founder?• Am I prepared to take advice?• How much time do I need from the mentor?• Who is the best person to help me?• How can I get them to agree to mentor me?• How can I make best use of their time?
  22. 22. Getting the most from mentoring• Identify the right mentors• Ensure complementary skills / experience• Agree on meeting times / format / time commitment• Identify top 2-3 issues for discussion• Circulate agenda and reading materials• Report on actions / key issues from last meeting• Ensure discussion stays on topic• Be 100% candid about your business• Ask questions!
  23. 23. Thank youColin Kinneremail colin@spikeinnovation.com.auPh 0411 122 976www.spikeinnovation.com.au @colinkinner http://au.linkedin.com/in/colinkinner

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