Jon ason (it spring 2013)

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Доклад: “Introduction to angel investing, its exploding growth and internationalization”

В докладе рассмотрено введение в инвестирование бизнес-ангелов – частных инвесторов, вкладывающих деньги в инновационные проекты (стартапы) на этапе создания предприятия в обмен на возврат вложений и долю в капитале. Будут затронуты следующие вопросы: типы компаний, нуждающихся в инвестировании, определение стоимости компании, что привлекает бизнес-ангелов, необходимый уровень рентабельности инвестиций и т.д. Кроме этого, будет затронут вопрос резкого всплеска количества стартапов в США и роль СМИ в этой связи. Также в ходе презентации будет сказано о причинах быстрого роста стартапов и их роли на международной арене.

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Jon ason (it spring 2013)

  1. 1. John Angel Investing Ason03/2013 Copyright 2013 - John Ason 1
  2. 2. Angel Investing03/2013 Copyright 2013 - John Ason 2
  3. 3. Personal Background  25 years AT&T Bell Labs experience  Successful in stock market  Angel investor last 17 years03/2013 Copyright 2013 - John Ason 3
  4. 4. Angel Investments Xlibris.com Scoople.it DoodleDeals.com Koding.com GetMaid.com ERANYC.comCentrak.com OffTrackPlanet.com Ology.com Diapers.com HotList.com Imbookin.com CallunaVineyards.com Tips.by Spling.com WeHostels.com LiveLook.com Bikini.com FulcrumGallery.com Geometrix SpatialLabs AdPilot Hooja MotionMathGames.comAppyCouple.com PhlatBall.com IvyExec.com 03/2013 Copyright 2013 - John Ason 4
  5. 5. What is Angel Investing ? Source of funds for early stage companies Typically first “professional” level Typically $100,000 to $500,000 Experience / assistance provided03/2013 Copyright 2013 - John Ason 5
  6. 6. Angel Profile  Usually private  Ability to accumulate capital  Retired professionals  Entrepreneurs  Financial return secondary concern03/2013 Copyright 2013 - John Ason 6
  7. 7. What do Angels Want ? A pleasant experience  Excitement of growing a company  Financial return An environment to contribute / participate  Management / oversight  Contacts An exit strategy03/2013 Copyright 2013 - John Ason 7
  8. 8. Exit Strategies (descending order)  Chapter 11 / Disbanding  Life style (put option)  Buyout / Merger  Venture Capital round  IPO 03/2013 Copyright 2013 - John Ason 8
  9. 9. How to Find Angels ?03/2013 Copyright 2013 - John Ason 9
  10. 10. How to Find Angels ?  Networking  Venture groups  Venture fairs  Internet  University lectures  Intermediaries03/2013 Copyright 2013 - John Ason 10
  11. 11. What do Angels Want to See ?  Short focussed business plan  Quality management / people  Reasonable valuation (20-30% equity)  Market validation03/2013 Copyright 2013 - John Ason 11
  12. 12. Negotiating with Angels  Must be win / win  Process is asymmetrical  Valuations fuzzy  Angel contribution fuzzy  Angels timeframe is casual / slow  Angels do not HAVE to invest  Angels can walk away at anytime03/2013 Copyright 2013 - John Ason 12
  13. 13. Financial Returns  Ten times investment in 3 to 5 years  50% IRR per year  Lifestyle companies do not qualify03/2013 Copyright 2013 - John Ason 13
  14. 14. Company Culture  Speed, speed, speed  Outsource everything  Leverage / margins  Compete / cooperate  Open non-secretive03/2013 Copyright 2013 - John Ason 14
  15. 15. Angels VS VCs Money Own Other people’s Revenues None $2 – 5 million Management Partial Complete Stage Early Expansion IRR 50% 30% Multiples 10X 2X – 4X Risk High Low03/2013 Copyright 2013 - John Ason 15
  16. 16. Evaluation Process  Clear, concise, compelling, coherent one page executive summary  Very large potential (10X)  Intellectually stimulating  Marketing/sales skills  Fundamental keystone patent  Execution capabilities03/2013 Copyright 2013 - John Ason 16
  17. 17. Exploding Angel Market  Starting a company close to zero  Validating a company close to zero  Emergence of accelerators  Emergence of Super Angels (Micro VCs)  Emergence of AngelList  Emergence of graphical investor decks  Emergence of family officesDramatic increase in speed of angel investing 03/2013 Copyright 2013 - John Ason 17
  18. 18. International Activity  Startups are outsourcing  Foreign startups looking for funding  Foreign governments looking to build angel and startup ecosystems  Accelerators going international03/2013 Copyright 2013 - John Ason 18
  19. 19. Thank You John Ason www.JohnAson.com Ason@comcast.net03/2013 Copyright 2013 - John Ason 19

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