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Altconf - Financing Startups


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The Financing gap for tech startups in South Africa and how we can solve it... and startups as the solution to upliftment

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Altconf - Financing Startups

  1. 1. Startup Financing The Financing Gap & Solution for South Africa justin spratt – 4 July 2009
  2. 2. South Africa SA has…. Great people Right Culture Great ideas Enough money So what is the problem?
  3. 3. Context: Recession • Global mainly • U versus V • SA should be out be early 2010 • But 3.5% growth wont solve our problems!
  4. 4. Context: Poor Fundamentals • Government wont solve our problems • Enablement can help • Intervention by private business is critical
  5. 5. The Good News • Michael Porter & Cluster Theory • Examples: • Bangalore • Silicon Valley • Detroit • Wall Street • Rwanda • Venice
  6. 6. “All we need is deal flow for VC and Angel to start working… I am coming back soon to help with this” Vinny Lingham, June 2009
  7. 7. Finance Continuum
  8. 8. ISLabs – Germination • Water-cooler chats… gazillion ideas • IS has some of the smartest people • We are best equipped private enterprise to help tech
  9. 9. The Idea: A Mashup Angel great, but we don’t have $ Incubator best model for IS Y- Combinator Google Projects Summer of Code
  10. 10. Y-Combinator: Successes • Loopt (2005), mobile social networking, on all the major U.S. carrier networks • Scribd (2006), a Web-based document publisher, partnered with Random House • Xobni (2006), an e-mail software maker, was demoed by Bill Gates, a $20 million buyout offer • Weebly (2007), a website authoring toolmaker, 1-million-users mark • Omnisio (2008), an online video annotator, acquired last year by Google, circa $15 million
  11. 11. Google Projects: Successes
  12. 12. Thanks!