So what works in seed funding and how to improve it fast?
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5. VCs to entrepreneurs
➡ find something scalable($100m revenue potential)
with competitive advantage and grow sales faster
than anybody else.
➡ you will get money to grow(Round A, B, ...), you will
attract the best people, you will generate returns
From: @ VCs
To: @ Entrepreneurs
6. Alternative path is difficult
➡ limited potential to attract talent
➡ limited resources to scale sales
➡ limited success
7. My thesis is that both are necessary
Have traction and a scalable product
Have a view on the financing roadmap of your company
+
How to approach VCs
9. 3 stages
Pre-seed Money
Seed Money
Round A
Money
prototype
in search of
scalable sales
growing sales
sometimes first sales
This lecture is
about seed stage!
VALUATION
T I M E
10. * There is a boom market.
Changes in the US*
EUROPE POLANDUS
➡ YC gets bigger
➡ Accelerators are abundant
➡ AL expands
➡ Kickstarter expands
➡ VCs go down
➡ micro VCs flourish
➡ angels grow in numbers
➡ There are 100s of seed investors
11. Changes in Europe*
EUROPE POLANDUS
➡ hubs are growing
➡ there are at most 10s of active
seed investors for a given hub
* There is a boom but the market is much smaller.
➡ pan-European investments grow as
well
➡ there are 10s of active pan-European
investors
12. Changes in Poland*
EUROPE POLANDUS
➡ a substantial US interest
among entrepreneurs
➡ few value add early stage
investors
* The market is getting more professional.
➡ interest from Europe
➡ public seed, pre-seed, KFK
funding
13. Conclusions
The number of financing
options grow as you move
Investors from
a local center
Investors from
Europe
Investors in
the US
*The European investment market is at its beginning.
14. Conclusions
Investors in
a local center
Investors in
Europe
Investors in
the US
market hardly
exists
market at
the begining
ripe market with 100s
of investment options
20. Step 1
➡ think about geography
➡ make a research of your future
Round A investors.
➡ make a list of 10-20 investors.
➡ see who they invest in and what
are the requirements
➡ make research of seed investors
your round A investors like
➡ make a list of 20-40 seed
investors.
➡ make an effort, meet a couple of
them, listen to feedback and
iterate.
Step 2
22. What does not work
in seed funding?
The seed investment market in
Europe is at its beginning.
How to improve it fast?
Entrepreneurs and investors
have to treat it as a market.
23. Entrepreneurs
Do not hunt in the dark
Have a financial roadmap and treat fundraising as entering
an investment market.
24. Investors for you
★ Understand investors and their offer
★ Have a list of top 20-40 investors that fit to your startup
★ Package what you have as a product for investors
★ Iterate your product: meet, learn and improve
Product for investor
Interactions with investors
★ Increase number of interactions with investors
25. Get more content about
European Startups
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Twitter: @PiotrWilam
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