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The UNDP show how an anchor institution creates an ecosystem

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This plan is brilliant. I am glad to be an advisor to this project.

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The UNDP show how an anchor institution creates an ecosystem

  1. 1. ©2017 HubSV, Inc. PROJECTARMENIA Silicon Valley Impact Accelerator & Regional Innovation Fund TM
  2. 2. What are we creating? Silicon Valley integration with the South Caucasus & Black Sea Region Silicon Valley Impact Accelerator in Yerevan - expanding to the larger region 2 ▪ Wrap Silicon Valley around existing innovation initiatives ▪ Foster and accelerate local startups targeting Silicon Valley’s high standards ▪ Focus on the positive impact on human/global condition (“impact startups”) ▪ Over time, raise an evergreen regional follow-on fund to support the most successful startups over the longer term
  3. 3. 3 What is the 5-Year Plan for the region? Pilot: 12-Month Program Five-year Path to Sustainable Hub in Armenia Scale to 5+ Locations and Matching Investment Funds Pilot program; budget from Regional Innovation Fund (RIF) Armenia: $5 million ● $3 mil. for acceleration, prototype & ecosystem development ● $2 million for startup grants Pilot consists of two cohorts of startups in year 1 UNDP, SEAF, HubSV, NSI raise this with other partners Year 2 through Year 5 budget to sustainability: $14m ● An additional $3.5m each year (Y2-Y5): $1.5m for acceleration; $2m for startup grants ● Each year’s investments will be identified as distinct tranches Raise evergreen regional follow-on fund Capital requirements will depend on specific locations, etc. Network of additional Hubs and Regional Innovation Funds (RIFs) will provide Armenia with access to larger markets Region: Armenia, Georgia, Moldova, and others
  4. 4. What is HubSV? Not just another startup incubator or accelerator HubSV’s success criteria go beyond accelerating startups ▪ Attract foreign startups & investments to the location ▪ Incorporate Impact criteria into success metrics ▪ Provide “Impact Certification”* for startups ▪ Create future-oriented jobs in Armenia ▪ Help develop the innovation ecosystem to support regional startups not suitable or ready for venture capital ▪ Build regional evergreen follow-on fund * Impact Certification: To be developed in coordination with existing impact metrics 4
  5. 5. 5 What is the HubSV Program? From 250 applicants, the program rigorously screens, sorts, guides, and mentors new companies. The goal is to bring a select few to Silicon Valley for pitches, SV-immersion, and more! APPLICATION National call for applications, with up to 250 startup companies applying SCREENING Startups are evaluated and scored; the top 30 startups are selected for BootCamp SELECTION Investors select the top five startups to travel to Silicon Valley for the Immersion Program REMOTE MENTORING The top 20 startups engage in weekly mentoring sessions via video conferencing for three months BOOTCAMP Two-week BootCamp introduces mentors and Silicon Valley best practices; The top 20 receive mentoring and up to $50K in performance grants SILICON VALLEY IMMERSION Two weeks of intensive pitch preparation, exposure to Silicon Valley culture, and an introduction to Silicon Valley investors 20205 250 30 3020 5 30 20
  6. 6. 6 The HubSV Program accelerates both startups and the surrounding innovation ecosystem In a Program Year: At least 5500 hours spent directly mentoring 40 startups More than 1600 hours invested in initial innovation ecosystem development In Year 1: We Count Results
  7. 7. HubSV’s Silicon Valley Mentor Community 7 Life Science, Enterprise, Tourism, Mobile, Biotech, VR/AR, AI, Logistics, IOT, Women Entrepreneurs, Marketing, Sales, eCommerce, Big Data, Autonomous Vehicles, Real Estate, Robotics, Fintech, Sports, Healthcare, Sustainability, Nano, Space, Media, SaaS, EdTech, Blockchain, Cyber Security, Food, Wine, & more!
  8. 8. 8 HubSV’s overall Impact goal is to improve job creation & innovation (SDGs 8 & 9) Many of the SDGs translate into high- priority venture capital investment areas: Life Science, Biotech, Energy, IOT, EdTech, and Cyber Security/AI Armenia’s expected technology sweet spot: Advanced Math Technologies, relevant to most of the SDGs Credit: Stockholm Resilience Centre United Nations’ Sustainable Development Goals (SDGs) for 2030
  9. 9. Aggregating Impact Modeling Georgia Prototype Startups 13 Bubblestack Hydroponic Farming QuickCash Small Business Lending Hand4Help Childrens’ Prosthetics Wisekettle Intelligent Baby Bottles ORSim Surgery Simulation InnoPhage Penicillin Alternative Job #8, Innovation #9 #2.3: Agricultural efficiency #6.4: Water efficiency #8: Job & Wages #9: Innovation #3.8: Quality in Meds & Vacc for all #8: Jobs & Wages #9: Innovation #9.3: Access to financial services #8: Jobs & Wages #9: Innovation #3.8: Quality in Meds & Vacc for all #8: Jobs & Wages #9: Innovation #3: Good Health #8: Jobs & Wages #9: Innovation #4.c: Increase supply of qual. teachers #9.5: Enhance scientific research & increase # of healthcare workers #8: Jobs & Wages #9: Innovation
  10. 10. Based on our experience from the HubSV Program in Georgia, this is Project Armenia’s predicted outcome 10 Not fundable Regional; larger Regional Funding track Silicon Valley-potential track Local; Regional Funding track Mentoring Program Outcomes
  11. 11. Project Armenia will be the first of many Prototype is ready for replication in other countries in the region ▪ Accelerator for startups providing positive impact on human, community, and global conditions ▪ Fund model that can finance each accelerator until it is sustainable ▪ Fully-developed model to screen, evaluate, and continually measure startups, combining Silicon Valley parameters with Impact parameters ▪ Advanced modeling of each potential innovation ecosystem to tailor HubSV programs for maximum impact and success potential 11
  12. 12. Aggregating Impact 13 Regional Programs HubSV Global Impact ARMENIA 30 companies per year for 5 years Rolling Up Impact created for Armenia 3-4 impact parameters measured per company GEORGIA 30 companies per year for 5 years Rolling Up Impact created for Georgia 3-4 impact parameters measured per company MOLDOVA 30 companies per year for 5 years Rolling Up Impact created for Moldova 3-4 impact parameters measured per company next ProgramNordic Program Impact Benefits Impact Benefits Impact Benefits Impact Benefits Impact Benefits
  13. 13. “It takes a Village to raise a Startup” These are the Partners & Subcontractors for Project Armenia Acceleration & Silicon Valley screening criteria HubSV & its 300+ mentors Impact criteria/Measuring UNDP, SEAF, Figbytes, SDGs Ecosystem Blueprint Avasant Foundation Local partnerships: strategic, political, regional UNDP, SEAF, NSI Ongoing fundraising UNDP, SEAF, HubSV, NSI, InterCulture Foundation Legal & fund management Engaging leading Impact Fund legal advisor Professional Fund Management Team (see slide 19) International tax advisor & accounting firm VPTax, Greenough Consulting Group Evergreen follow-on-fund raise TBD 13
  14. 14. Participants in HubSV’s Silicon Valley Investor Network 14
  15. 15. Regional Innovation Fund details 15
  16. 16. Project Armenia Hub: Startup Accelerator by HubSV Regional Innovation Fund $$$ 5% equity Project Armenia: Private Public Partnership 13
  17. 17. Armenia RIF 1 - Year 1 Armenia RIF 2 - Year 2 Armenia RIF 3 - Year 3 Armenia RIF 4 - Year 4 Armenia RIF 5 - Year 5 Target $5 million $3.5 million $3.5 million $3.5 million $3.5 million Use of Funds Programs & Prototype Hub Operating Startup Hub; 2 Cohorts Operating Startup Hub; 2 Cohorts Operating Startup Hub; 2 Cohorts Operating Startup Hub; 2 Cohorts RIF’s Target Startup Ownership Structure 5% equity in 40 companies 5% equity in 40 companies 5% equity in 40 companies 5% equity in 40 companies 5% equity in 40 companies Armenia RIF 1 Investor Bonus 5% participation in HubSV’s future Armenia RIF ownership Expected Returns The Regional Investment Fund (RIF) will focus on triple bottom line returns: ● Financial returns from stakeholder gain-sharing and from startup exit events ● Impact returns in support of the United Nations’ Sustainable Development Goals (SDGs) Armenia Regional Investment Fund details (planned replication to South Caucasus/Black Sea Cluster) 14
  18. 18. Raising Grants, donations and/or patient investments 15 Project Armenia Year 1 Funding Goal: $ 5,000,000 One time costs, year 1: HubSV prototype & initial ecosystem development initiatives $ 1,500,000 RIF annual costs: Acceleration programs 12 months $ 1,500,000 Performance grants for up to 40 startups $ 2,000,000 (soft-circled) Already committed for year 1 UNDP for impact acceleration $ 300,000 SEAF $ 25,000 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $325,000
  19. 19. 19 Project Armenia Year 1 Budget: $5,000,000 Program operations, backend, and overhead: 8% Program Costs: 92%
  20. 20. Program Advisory Board 20 Ron Weissman SV Angel investor & venture capitalist working with Armenia John Evans Former US Ambassador to Armenia Paul Joyal US Regional Expert, Georgia & Caucasus Kevin Jones Co-Founder & Convener, SOCAP Co-Founder, Good Capital
  21. 21. 21 Lauryn Agnew, Impact Fund Manager +1.415.516.3141 laurynagnew@sealcovefinancial.com Mariianne Crary, COO/Founder +1.650.621.0880 mmc@hubsv.com www.HubSV.com
  22. 22. What are the types of returns we anticipate? During the pilot period, we will map out details for the next Regional Innovation Funds ▪ Impact funds: If grant = no return, eligible for tax deduction (they fund the impact). If investments = ROI to be estimated during the pilot project ▪ Foundation: If grant = no return (they fund the impact). If MRI = ROI to be estimated during the pilot project ▪ Family Office If donations = no return, eligible for tax deduction (they fund the impact). If MRI = ROI to be estimated during the pilot project ▪ Government/UNDP Grant = no return ▪ Startups (performance stock) Earn into participation of the fund = model TBD during the pilot ▪ Community * Micro investment = model TBD during pilot ▪ Local foundation * Grant = no return, eligible for tax deduction (pay for the impact) If MRI = ROI TBD during the pilot project ▪ Sponsorships Grant = no return (pay for the access) ▪ VIP Mentors Earned in based on performance All members can participate in follow-up funds after the pilot project and in follow-on rounds of investments into specific startups * depending on local tax laws 22

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