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Welcome to Startup Bootcamp Europe 2011 March 2011
Today, investment in startups is regarded as one of the main routes towards economic recovery In the past months, investments in entreprenuerial eﬀorts have emerged in many forums as one of the pricipal roads to economic recupera>on “Our future prosperity in part depends on whether or not we are crea-ng an environment in which folks can test new ideas, bring new products to market, and generate new businesses. And that’s not just a challenge for government. It’s a challenge that requires businesses, and leaders, and universi-es, [and] others to seek out new ways to promote entrepreneurship across this country.” ” (January 2011) Barack Obama President of the United States “It is in -mes of recession when people come together and are more open to working together [...] let´s not forget that the U.S. economic strength in the world is due to it´s entrepreneurial capacity” (January 2011) Gene B. Sperling Director of the Na-onal Economic “Innova-on is a key factor for growth, economic recovery and to Council of the United States create jobs. [...] Spain has a very interes-ng future in the world, but you have to help entrepreneurs “ (December 2010) Alan Solomont Ambassador of the “We will overcome the crisis with entrepreneurs, they generate wealth and United States to Spain employment, as well as social work not suﬃciently recognized, but to grow you need a framework that allows entrepreneurs to start a business, hire people and prosper " (January 2011 ) Claudio Boada President of the Circulo de Empresarios, President of Aban-a‐TICSA and Atlas Capital
However, the accelera>on of the rate of change of innova>on, obstructs the current tradi>onal models of investment The rate of change of technological The implica>ons of this accelera>on are innova>on has been greatly accelerated transforming current investment model • Dras>c reduc>on in the window of investment opportunity • Need to detect talent in earlier phases in order to invest • Need to search for ﬂexible mechanisms of development and investment for startups and investors. — New Development Model: Launch fast, fail fast, iterate fast and adapt to the market (demand) constantly — New Investment Model: The rate of change of technological innova>on is the Invest earlier (earlier phases), invest more broadly >me requirement for the emergence of a new disrup>ve (porLolio diversiﬁca>on), share risks (more co‐ element in the market that can somehow change investment), and support startups through the rules established so far. “something more” than just money (mentoring, contacts, ect.)
Business accelerator programs have become the most eﬃcient formula to increase the success probabili>es of startups Tradi>onal Investment Model Accelerator Model Seed Investment Incubator space Seed money Incubator space Mentoring program Mentoring program The accelerator model has revolu>onized the approach to startup development oﬀering startups a plaLorm for sustainable growth via ongoing mentoring & seed funding Allows investors ﬁrst‐hand knowledge of new & upcoming trends in innova>on Beneﬁts the ecosystem by genera>ng high value deal ﬂow Help startups getGoals: traction & Lower risks and time to market for investors
What’s the real diﬀerence between an Accelerator Program’ oﬀering to early‐stage entrepreneurs vs. other op>ons? Accelerator Business Angel Incubator Early‐stage VC Programs Network Seed Funding Oﬃce Space On‐going Mentoring Par>cipa>on < 10 % Collabora>on amongst porSolio companies Investment By batches of x By total amount of Spontaneous Spontaneous Methodology startups per year money per x years Exit Horizon 9 to 24 months 2 to 4 years 4 to 7 years 3 to 6 years Always Frequently Some>mes Not Frequent Never
Startup Bootcamp is an European accelerator program for startups Each year 10 great internet & mobile startup teams are selected from 200+ applica>ons per chapter Each Startup Bootcamp chapter gets 8% equity in each of their 10 startups Each team is oﬀered EUR 4,000 in seed funding per team member up to a maximum of 3 founders per team Highlights Free incubator space is oﬀered in each edi>on along with other essen>al ameni>es promo>ng collabora>on and synergies between the teams 50+ mentor pool per chapter formed by successful entrepreneurs, investors and domain experts that will work intensively with the teams during the 3‐month program The program ends with both a na>onal and an interna>onal Investor Demo Day where teams will pitch to 75+ interna>onal Business Angels, Venture Capitalists and Corporate Investors Month 1 Month 2 Month 3 Investor Shape Build Sell Day Format Reﬁne idea Release Beta Validate business (data, data, data) model Reﬁne business Engage mentors model First customers & funding
Startup Bootcamp (Denmark) & Tetuan Valley (Spain) are two of the most renowned programs in Europe Our Background ‐ From 2 local programs to 1 con>nental program • Founded in 2010 Copenhagen (2010) ‐ 1 edi>on with 10 startups • Denmark’s ﬁrst accelerator program ‐ 1stTechstars Global Aﬃliate ‐ Backed by Rainmaking and Okuri amongst other investors • Founded in 2009 ‐ 3 edi>ons; over 40 startups • Not‐for‐proﬁt pre‐accelerator program ‐ Backed & managed by Okuri ‐ Chapters in Madrid & Barcelona • Finalist of Techcrunch’s The Madrid & Barcelona (2009) Europas Awards 2010
The objec>ve of this partnership is to launch Europe’s top accelerator program with 5+ chapters under one fund Our Future ‐ StartupBootcamp Europe One brand: StartupBootcamp Both capters will launch a fund of EUR 300k each to ﬁnance the 10 startups of each local program in 2011 ‐ Spain: June to September ‐ Denmark: August to November bwv We have recently announced the addi>on of a new partner: Bandwith Ventures (BWV) ‐ Based in Dublin (Ireland) founded by 3 co‐ founders of ‐ Partnerships with MNCs like IBM and Ci> ‐ Local program in January ‐ March 2012 One fund for all chapters of EUR 15‐20M to ﬁnance 200+ startups that will go through each of the 5 chapters of StartupBootcamp 2012‐2017 ‐ Planned chapters in Spain, Denmark, Ireland, Germany and UK ‐ Interna>onal demo day at the end of each year
The success of both programs and their alliance has not gone unno>ced by the mainstream media Okuri will organize this year a program with cash injec>on from The program is now preparing to launch... a joint venture the start. It is StartupBootcamp. ... “unlike tradi>onal venture with Okuri Ventures in Spain, the next StartupBootcamp will capital funds, we invest in 10 companies at once with 8% equity take place this summer in Madrid. Okuri Ventures is behind to Okuri, and 92% for entrepreneurs," said Luis Rivera, Spanish accelera>on program Tetuan Valleyfounder of Okuri. "StartupBootcamp launches in Madrid. Next up: London & Berlin”, R. Varza January 2011 "Emprendedor español sin ﬁnanciación busca...“, D. M. Pérez February 2011 StartupBootcamp, a European startup accelerator network … Since then, a number of similar programs have appeared in and Techstars aﬃliate, just added Dublin to its exis>ng various European countries, like HackForward in Germany, loca>ons of Copenhagen and Madrid. London and Berlin will Springboard in the UK, Copenhagen‐based StartupBootcamp, follow in 2012... A single pan‐European applica>on process Madrid’s Tetuan Valley and Paris’s Le Camping. will result in the selected teams being assigned to the most suitable city. "Start‐Up 100: Could Europe build a Y Combinator?“, R. Varza “Dublin: Europe’s Next Startup Petri Dish?”, C. Byrne January 2011 March, 2011 Other media en which we have appeared
The main key to success of StartupBootcamp resides in the program of con>nued mentorship. Mentors will support the development of our startups from their experiences Proﬁle of the Investors Beneﬁts Explore poten>al advisory posi>ons Investors Possibili>es of early due diligence Access to technology innova>ve and cheap Successful First‐hand experience of Entreprenuers Mentorship interes>ng startups Early detec>on of future One‐day visit at our trends oﬃce: Direct contact with 30 min entrepreneurial talent Directors of Big presenta>on Companies Private feedback Warm, fuzzy feeling of helping session with each others team (30 min)
Each chapter is supported by a network of 75+ mentors & ambassadors that will challenge and enrich our startups daily Some of our conﬁrmed mentors and ambassadors Arican Wegter Alejandro Santana Michael Jackson Co-Founder and MD at CEO at Perennius. Board Partner at Mangrove Partners. LOVEFiLM member at Fides Capital Former VP at Skype Tommy Ahlers Gregor Gimmy Jeff Coe CEO at Podio CEO and founder at Sclipo Entrepreneur and MD at Linden Ventures Francisco Rivillas Jenaro García Tanveer Sharif Strategic Partnerships Manager Founding partner and CEO Founder of Vopium at Google at GrupoGowex Inés Leopoldo José M. Joana Luis M. Cabiedes CEO and Partner at Advisor at ESADE. Former Managing Partner at Mitsue Venture Partner at IBM / PwC Consulting Cabiedes and Partners Jodok Batlogg Nicholas Hawtin Roberto de Diego CTO at VZNet Founder at Risk Containment and Partner at Goya Partners. Former Mentor at President of Solfocus &BT Startup Bootcamp Denmark Europe. Former CEO of Jazztel
Mentors and investors will beneﬁt from ongoing and ﬁrst‐ hand informa>on of the progress of all par>cipant startups 3‐month program structure and follow‐up period Business Na>onal Issues Progress on Model Demo Day & Exit Kick oﬀ Review & Objec>ves Project Review & Demo Day End of Strategy European Write‐oﬀ Program Refocus Evalua>on Review Refocus Training Program Evalua>on Demo Day Assessment Month 0 Month 1 Month 2 Month 3 Month 6 December Month 12 Shape Program Development Build Sell Follow‐up & Exit Period Startups Performance Repor>ng Fund Mentoring Mee]ngs (Op-onal) Investors One‐on‐One Mee]ngs Mentoring Mee>ngs Demo Demo Mentors Day Day One‐on‐One Mee]ngs Rest One‐on‐One Mee]ngs
Applica>on Deadlines and Programs Calendars Applica>ons Program Opening Deadline Starts Ends Madrid 21/01/2011 15/05/2011 16/06/2011 23/09/2011 Copenhaguen 1/06/2011 15/07/2011 15/09/2011 1/12/2011 Dublin Jul. 2011 Dec. 2011 Jan. 2012 March. 2012 Berlin TBA TBA 2012 2012 London TBA TBA 2012 2012 Spots in our programs will be given on an ongoing basis during applica]on period, so the sooner you apply the greater chances you’ll have of being selected
Contact details Address further ques>ons to: Alex Farcet Carsten Kølbek Managing Director Copenhaguen Partner Rainmaking +45 24 29 40 00 +44 7 500 161 315 firstname.lastname@example.org email@example.com Luis Rivera Bernardo de Tomás Managing Director Madrid Partner Okuri Ventures +34 656 306 925 +34 605 791 870 firstname.lastname@example.org email@example.com Eoghan Jennings Managing Director Dublin +353 86 200 4688 firstname.lastname@example.org