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CHANGE THE CHIP AND CARRY ON
The document outlines the startup funding roadmap for entrepreneurs in the UK, emphasizing the importance of prototyping, team development, and various funding sources. It highlights the role of accelerators, investment criteria for early-stage funding, and critical milestones for startup success. Additionally, it offers motivational advice for entrepreneurs to create value and build reputations in the industry.
CHANGE THE CHIP AND CARRY ON
- 1. #lovamosaganar #nofearonlylove #entreprenation 17.04.2013 Inmaculada Martinez, UKTI Catalyst Ambassador @inma_martinez April 2013
- 2. THE STARTUP FUNDINGROADMAP: A CAREFULLY IDENTIFIABLE PATH Bootstrap / FFF Hackathons / Hatcheries / Meet-ups Startup Loans MVP Factories Innovation Awards Crowdfunding Accelerators <50k Angel Rounds Angel Syndicates Early Stage Funds If you can’t find the word “VC” above it’s because there is no room for them yet in the early ecosystem @inma_martinez April 2013
- 3. “LET’S START ATTHE BEGINNING, AT A VERY GOOD PLACE TO START” Sound of Music, ABC @inma_martinez April 2013
- 4. FORMING AND EXPLORINGIDEAS @inma_martinez April 2013
- 5. PROTOTYPING IS *THEMOST IMPORTANT * THING @inma_martinez April 2013
- 6. DEVELOPING THE TEAM Hipsters Hackers Hustlers @inma_martinez April 2013
- 7. SOURCES OF HELPFOR BUDDING ENTREPRENEURS IN U.K. @inma_martinez April 2013
- 8. SOURCES OF PRODUCTDEVELOPMENT FUNDING IN THE U.K. @inma_martinez April 2013
- 9. NEW FUNDING FORPROTOTYPING? TRY CROWDFUNDING @inma_martinez April 2013
- 10. METAL TO THEPEDAL: ACCELERATING YOUR PROJECT @inma_martinez April 2013
- 11. ACCELERATORS: BEWARE OFTHE BONANZA @inma_martinez April 2013
- 12. ACCELERATORS: what’s on offer Fellow community of entrepreneurs & supporters Runway support & funding (15k-100k at standarised investment terms) (3-6 months on average) Physical space & facilities Mentors (1st Industry) (2nd Investors) Help to Rapid Field Trail (RFT) with users & customers Demo Days are intros to investors / customers @inma_martinez April 2013
- 13. ACCELERATORS: what’S tested inthis growth stage PRODUCT Aquisition Activation Assess functional use Retention Improve design & UX Referral Revenue MARKET REACTION Interest / Usage / Revenue / AARRR REVENUE / PROFIT POTENTIAL Customer Pricing / Market Timing / LTV / CCA Care Accelerators BUSINESS MODEL Life “To Pivot or Not To Pivot” Time Value INVESTOR REACTION Interest and Valuations TEAM Ability to work together and deliver @inma_martinez April 2013
- 14. ACCELERATORS’ CHECKLIST: what kind of startups they select PRODUCT solves a problem for a SPECIFIC customer CAPITAL-EFFICIENT business - operational @ <$1M funding Primarily INTERNET-based distribution Search / Social / Mobile / Local SIMPLE revenue models Transactions / Subscriptions / Affiliate FUNCTIONAL Prototype before investment or previous success as team / founder Small but MEASURABLE usage Some customers / Early revenue Small but CROSS-FUNCTIONAL team Engineer / Design / UX / Marketing @inma_martinez April 2013
- 15. Hurrah! You’ve beenselected! HOW TO CREATE THE RIGHT MILESTONES Start Phase Middle Phase Exit Phase Hire KEY people that Great Social Proof that ECOSYSTEM make HUGE impact Capital - team agrees with your ideas - HUMAN on organisation - ie. not works together ie. bring on respected RESOURCES just ‘workload’ people seamlessly and industry advisors / but ‘shit-hot’ marketing successfully partners on board person You can really MVP Full Launch build something - Beta PRODUCT ie. Working Ongoing iterations 1st Pivot Prototype Proof that you can talk Proof that THERE Market Validation to AUDIENCES - IS A MARKET - ie first customers MARKET 1st paying 100k users $1M p.a. 1M users $25M p.a. customers 10M users and beyond Proof that you can Proof that you can Proof that you can FUNDING TALK to investors MANAGE YOUR SELL to investors FINANCES - a cash- flow + operation @inma_martinez April 2013
- 16. RAISING FUNDING WITHEARLY STAGE / SEED INVESTORS Skilled and credible management team BIG market opportunity BIG problem solved for a potential BIG set of customers Idea/Prototype proven and market validated Zero Technical Risk Ready to execute Business Model Evidence that Business Model is repeatable and scalable Metrics http://blog.kissmetrics.com/9-metrics/ http://guidetostartupmetrics.eventbrite.com/# Adecuate Financial Returns - 10x in 3 years? A CLEAR exit route - how will they claim their reward? @inma_martinez April 2013
- 17. @inma_martinez April 2013
- 18. EARLY STAGE VCs/ SUPER ANGELS in EUROPE (U.K. HQs) @inma_martinez April 2013
- 19. SPECIALIST FUNDS (U.K.HQs) @inma_martinez April 2013
- 20. BREATHE IN, BREATHE OUT. DO YOU HAVE WHAT IT TAKES?
- 21. #1 Work ToBuild A Better World. Build products that people LOVE. Build shareholder value that rewards you, your partners and your investors. @inma_martinez June 2013
- 22. #2 Show Greatnessand Mentors Will Come To You. Don’t ask to be mentored. Make them “Want to mentor you” @inma_martinez June 2013
- 23. #3 Work HARDbut STRATEGICALLY. Develop your Personal Brand, your Industry Brand, your Leadership. @inma_martinez June 2013
- 24. #4 Don’t Follow“False Gods”: You won’t be the next Zuckerberg. You will be the next ‘You’ @inma_martinez June 2013
- 25. #5 Create GoodIndustry Karma. Your Good Will and Reputation are your currency in the #entreprenation. Behave like a right idiot at your peril. @inma_martinez June 2013
- 26. ABOVE ALL: Get acrash-helmet: it’s gonna be a bumpy road, but the beach awaits at the end of the road Continue your education and self-improvement. Get in the best physical shape: run, meditate, eat well. Go conquer the world assured that you are fulfilling your chosen destiny. @inma_martinez June 2013
- 27. #lovamosaganar #nofearonlylove #nfol #entreprenation http://www.slideshare.net/inmamartinez/presentations