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Grants and Entrepreneurs - Challenges and Opportunities

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Keynote I held at HHL Spinlab Demo Day at Porsche in Leipzig. The slides obviously need to be presented. But the keywords I talked about are on the slides.

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Grants and Entrepreneurs - Challenges and Opportunities

  1. 1. Can public grants hurt entrepreneurial mindsets? Spinlab, Leipzig Joerg Rheinboldt, November 2018
  2. 2. Who are we? 4 We are a diverse team. We are tailormade.We are early-stage. We are Europe’s most ambitious early-stage VC and accelerator, powered by Axel Springer and Porsche.
  3. 3. 5 To grow start-ups from good to great. The tailormade structure of APX gives founders the space to strive and have an impact globally. What do we promise?
  4. 4. What is our focus? ● We invest very early ● We are a digital investor at the core ● We are focused on digital user-centric business models. 6 Media TravelMobility Lifestyle Fintech Health Care APX
  5. 5. How do we work? ● Due to very different stages of companies, we developed two separate processes: Pre-Seed selection Seed selection ● People make companies successful at the early stage ● Timing is crucial: Where can we add value that is more than money? 7
  6. 6. We our Team 8 Anne Events Bao Marketing Constantin Dealflow & Selection Corinne Program Emrah Closing & Portfolio Henric MD Joerg MD Katy Brand & Communication Melanie Finance & Portfolio Sarah Campus Sonja Closing & Portfolio Tilman Venture Development Yoni Venture Development Robert Project Mgmt
  7. 7. 9 102 Investments and many more financing rounds 5 years of investing N26, Zizoo, Careship, Blogfoster… 5 Non Profit Organizations 12 Artists in Residence Our heritage Axel Springer Plug and Play
  8. 8. Why this? Why now? Why you? Why APX? 10
  9. 9. 11 Grants Every company needs a financing strategy. Should grants be part of it?
  10. 10. Dream → Hypothesis → Plan → Execution → Traction 12
  11. 11. Six “readiness” dimensions investors look at 13 Goals Dimension Sub-Dimension / Description From Vision to Product Long term view, "big" (billion-dollar) vision vs. first product to roll out (6 months) Users / Customers Growth (traffic/users/app downloads/churn/retention); Engagement (conversion/session length) Financial Model How will this make money? Unit economics / margins, Burn rate (monthly), financial projections, forecasted financing needs Product Plan & Roadmap Milestones to product launch (infrastructure, backend, UX/UI, etc.); new feature launch (UX/UI changes, payment flow, etc.) Sales / Marketing Marketing channel launch plan, leads, qualified leads, customers acquisition cost, etc. Team Hiring goals and org. structure; key hires; outsourced roles Tailormade: Venture Development & Program
  12. 12. Six “readiness” dimensions investors look at 14 Goals Dimension Sub-Dimension / Description From Vision to Product Long term view, "big" (billion-dollar) vision vs. first product to roll out (6 months) Users / Customers Growth (traffic/users/app downloads/churn/retention); Engagement (conversion/session length) Financial Model How will this make money? Unit economics / margins, Burn rate (monthly), financial projections, forecasted financing needs Product Plan & Roadmap Milestones to product launch (infrastructure, backend, UX/UI, etc.); new feature launch (UX/UI changes, payment flow, etc.) Sales / Marketing Marketing channel launch plan, leads, qualified leads, customers acquisition cost, etc. Team Hiring goals and org. structure; key hires; outsourced roles Tailormade: Venture Development & Program Financing Strategy!
  13. 13. Dividend Orientation vs. Venture Path 15
  14. 14. Captable & Capital Structure 16
  15. 15. Independence & Signalling 17
  16. 16. 18 Application & Formalities
  17. 17. 19 Governance
  18. 18. 20 Long Term Consequences
  19. 19. Epic vs. Granular Failure 21
  20. 20. Networks 22
  21. 21. Cooperation & Coopetition 23
  22. 22. Speed and Focus 24
  23. 23. How do you stay connected with APX? Follow us @joinAPX @joerg @joinAPX @rheinboldt @apxvoices @joerg Or email us hello@apx.ac 25

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