The document provides guidelines for financing an ICT start-up, including developing a financing strategy, identifying relevant funding sources, preparing an investment pitch, and managing investors. It discusses developing a financing strategy that considers the stage of development, funding needs, and type of financing required. A variety of public and private funding sources are outlined, including grants, crowdfunding, angel investors, venture capital, and more. The document provides tips for getting "investment ready" through an effective executive summary, pitch, and business plan. Lastly, it notes the importance of ongoing communication and preparation for future funding rounds when managing investors.
How incubation and acceleration programmes (can) increase your chances of gro...Benno Groosman
Experiences, best practices and recommendations from an entrepreneurial perspective. Sharing my experience in 5 startup ecosystems.
By Benno Groosman MScBA, www.groosman.info at
July 3, 2015 UNconvention.eu in Brussels
Role of the business accelerators in smart startup development. Results of MB...Riga High Tech University
10:00, 14 July 2015, Altum conference room, 4 Doma laukums, Riga
Half-day conference
Venture Capital for tech startups in Latvia 2015. Demand vs supply
Details:
http://www.labsoflatvia.com/events/venture-capital-for-tech-startups-in-latvia-2015-demand-vs-supply-2
Sustaining Design Entrepreneurship, Is It That Different? A Visual Analysis -...Laura Mata García
In recent years, the phenomenon of design-driven entrepreneurship began to take off, especially following the 2008 economic recession. In response to this phenomenon, many design schools launched design entrepreneurship support organizations, such as incubators and accelerators, to encourage and sustain entrepreneurial activities. However, it is not clear if these organizations are any different from existing entrepreneurship support formats and if they address specific needs of design entrepreneurs that other support organizations cannot satisfy. Although there is an abundant literature on support organizations and services for entrepreneurs, design-specific versions have not received much attention because their existence is quite recent and they are still very few in number. To establish if there were any differences in the offerings and characteristics of both sets of actors, twenty-one case studies of different support organizations were analyzed and the features of their offering were mapped graphically. Approximately half of the cases analyzed targeted design entrepreneurs specifically and half of them did not. The results show design specific actors have many common factors with standard entrepreneurship support organizations and very little differences. This issue may be a concern for those intending to open design specific support organizations, design entrepreneurs, design schools and creative-industries policy makers
How incubation and acceleration programmes (can) increase your chances of gro...Benno Groosman
Experiences, best practices and recommendations from an entrepreneurial perspective. Sharing my experience in 5 startup ecosystems.
By Benno Groosman MScBA, www.groosman.info at
July 3, 2015 UNconvention.eu in Brussels
Role of the business accelerators in smart startup development. Results of MB...Riga High Tech University
10:00, 14 July 2015, Altum conference room, 4 Doma laukums, Riga
Half-day conference
Venture Capital for tech startups in Latvia 2015. Demand vs supply
Details:
http://www.labsoflatvia.com/events/venture-capital-for-tech-startups-in-latvia-2015-demand-vs-supply-2
Sustaining Design Entrepreneurship, Is It That Different? A Visual Analysis -...Laura Mata García
In recent years, the phenomenon of design-driven entrepreneurship began to take off, especially following the 2008 economic recession. In response to this phenomenon, many design schools launched design entrepreneurship support organizations, such as incubators and accelerators, to encourage and sustain entrepreneurial activities. However, it is not clear if these organizations are any different from existing entrepreneurship support formats and if they address specific needs of design entrepreneurs that other support organizations cannot satisfy. Although there is an abundant literature on support organizations and services for entrepreneurs, design-specific versions have not received much attention because their existence is quite recent and they are still very few in number. To establish if there were any differences in the offerings and characteristics of both sets of actors, twenty-one case studies of different support organizations were analyzed and the features of their offering were mapped graphically. Approximately half of the cases analyzed targeted design entrepreneurs specifically and half of them did not. The results show design specific actors have many common factors with standard entrepreneurship support organizations and very little differences. This issue may be a concern for those intending to open design specific support organizations, design entrepreneurs, design schools and creative-industries policy makers
This presentation gives an overview of the steps involved in acquiring funding for a cleantech company, including sources of funding, typical early financing transaction challenges, as well as existing government programs.
Proposal for a Tech Incubator in Peel RegionIT Club GTA
Bjoern Kingsley and Jason Lavigne are proposing developing a 6,500 square foot ICT Business Incubator offering the Region of Peel services including: business incubation and acceleration; public-private funding and collaboration in the areas of business and technology development, research and education; mentorship and coaching for entrepreneurs; focus programs for female tech entrepreneurs and foreign investors, businesses and talent.
With this handbook, iHub.eu wants to shed a light on how to start building an innovation hub in your area.
We hope it can serve as your guide and first aid, during the setup of the whole process.
The iHub.eu network currently consists of 24 members, who all went through the same phases, as you are about to do.
Consider this as a warm welcome to reach out to us to address all your questions.
For more information, please visit www.ihub.eu
DIHNET.EU Webinar: 'Cooperation between Start-Ups and Digital Innovation Hubs'Laura Argilés Martínez
DIHNET Webinar: 'Cooperation between Start-Ups and Digital Innovation Hubs' - Tuesday, 26 May 2020.
Digital Innovation Hubs (DIHs) are one-stop-shops that support organisations, such as SMEs and the public sector, in their digital transformation journey. Have a look at the presentation of this webinar organised by DIHNET.EU, the European initiative supporting the collaboration among Digital Innovation Hub Networks across Europe, to learn how DIHs can support start-ups to commercialise their products and services to end users. Learn with several speakers from both ecosystems and join the DIHNET.EU Community to follow up the discussion: https://dihnet-community-1.fundingbox.com/
Speakers: Mayte Carracedo (Chief Business Developer & Co-Founder at FundingBox), Maurits Butter (Senior Scientist at TNO), Thorsten Hülsmann (CEO at Digital Hub Logistics Dortmund / SME Enabling Center "Digital in NRW"), Bogdan Ceobanu (Policy Officer at Start-Up Europe), Alicia Gómez (Project Manager at Digital Innovation Hub Industry 4.0, DIHBU), Claudio Rubio (Business Development Manager at Tacticatic), Anita Lieverdink (Manager at TekDelta and Coordinator of the Working Group 'Startups & Scale-ups' of the Dutch AI Coalition), Camiel R. Verschoor (CEO at Birds.ai).
Bridging Greek Tech Innovation - Tom Katsioulas the Mindspark
An interesting share of experience on bridging Greek Tech Innovation, by Tom Katsioulas, Silicon Valley Technology executive.
Thanassis (Tom) Katsioulas is a technology executive, with several year of operating experience in high tech for Fortune 50 companies and startups. Currently, Tom is the Chair of Global Semiconductor Alliance Trusted IoT Ecosystem Security (TIES) a collaborative platform among several companies and industry standards bodies.
Tom’s experience includes, Cloud, IoT, Electronics Supply Chain Security & Trust, Digital Transformation, PLM & SaaS Applications Embedded Systems, ML & AI, Factory Automation, Semiconductors, and Electronic Design Automation.
More About the Trusted IoT Ecosystem Security (TIES): https://www.gsaglobal.org/iot/ties/
Keynotes:
Mindspark, Mindset, Mindbridge (2018): https://youtu.be/3ww3WGKOpgQ
IoT will spark evolution for Growth (2016): https://youtu.be/5PDtZ6MLamY
Translating research into a multi billion dollar global company - Sherwn Gree...NORCAT
Research is often defined as turning money into knowledge whereas innovation is considered the process of turning knowledge back into money. For academic institutions and companies that invest in research, this NORCAT Hot Topics event will focus on the exciting and challenging process of looking at research through a “prospective commercialization” lens. Does this research have a commercial application? How do I assess the market opportunity? What is the end goal? So many challenging yet important questions!
Scaling Enterprise Agility amidst Cross Border Merger by Rocky Woestenborghs ...Agile India
ING has been a frontrunner in the banking industry for more than a century and aims to become 'one global ING' that delivers a consistent customer experience to all its customers across the globe. The bank has taken the first big step towards this ambition by uniting its two biggest countries – the Netherlands and Belgium. The project aims to create a single operating model across the border, with simpler, standardized processes and integrated activities that will improve operational efficiency and agility.
While everyone acknowledges that mergers and acquisitions are an essential part of scaling an organization's impact, however, these are usually executed in a very top-down, waterfall-ish approach. Typically such initiatives don't embody any agile values or mindset. As a leader driving this change, Rocky will narrate the story of merging 2 agile organizations with more than 8000 people's workforce. He will share his experience on how the two countries are joining forces, pooling talent plus creativity to deliver one set of customer journeys on an integrated platform, that will result in a truly empowering customer experience.
More details:
https://confengine.com/agile-india-2019/proposal/9683/scaling-enterprise-agility-amidst-cross-border-merger
Conference link: https://2019.agileindia.org
World's First Blockchain Social Stock Exchange (BSSE) with multiple framework...Johnny Moi
The world's first Blockchain Social Stock Exchange (BSSE) with Strategic, Technology, Scriptural, AI & Blockchain, Digital, and Global Standards frameworks among others by Johnny Moi.
Reward-Based Crowdfunding for Technology-Oriented Start-UpsDennis Brüntje
Presentation at the 18th Forum Entrepreneurship Research (G-Forum) – Annual Interdisciplinary Entrepreneurship Conference on November 13, 2014 in Oldenburg, Germany.
The 6-18 months following launch of an enterprise or start-up are critical. Once a prototype has been launched and is in the market, a key priority is to achieve growth. Known as scaling up, this growth process typically requires achievement in three core areas:
Achieving product / market fit: Continually developing your product and business model to ensure the widest and deepest possible growth in terms of users;
Growing the human resources and decision-making capacity of your firm: Ensuring that your talent and governance structures are continually evolving to meet growth requirements;
Securing finance: Making sure you have the financial resources to grow, either using organic cash flow or external financing.
This presentation will offer a brief roadmap to prepare for your scaling up journey. It will include practical tools, methods and advice for different aspects of scaling, and outline some common pitfalls seen along the way.
This presentation gives an overview of the steps involved in acquiring funding for a cleantech company, including sources of funding, typical early financing transaction challenges, as well as existing government programs.
Proposal for a Tech Incubator in Peel RegionIT Club GTA
Bjoern Kingsley and Jason Lavigne are proposing developing a 6,500 square foot ICT Business Incubator offering the Region of Peel services including: business incubation and acceleration; public-private funding and collaboration in the areas of business and technology development, research and education; mentorship and coaching for entrepreneurs; focus programs for female tech entrepreneurs and foreign investors, businesses and talent.
With this handbook, iHub.eu wants to shed a light on how to start building an innovation hub in your area.
We hope it can serve as your guide and first aid, during the setup of the whole process.
The iHub.eu network currently consists of 24 members, who all went through the same phases, as you are about to do.
Consider this as a warm welcome to reach out to us to address all your questions.
For more information, please visit www.ihub.eu
DIHNET.EU Webinar: 'Cooperation between Start-Ups and Digital Innovation Hubs'Laura Argilés Martínez
DIHNET Webinar: 'Cooperation between Start-Ups and Digital Innovation Hubs' - Tuesday, 26 May 2020.
Digital Innovation Hubs (DIHs) are one-stop-shops that support organisations, such as SMEs and the public sector, in their digital transformation journey. Have a look at the presentation of this webinar organised by DIHNET.EU, the European initiative supporting the collaboration among Digital Innovation Hub Networks across Europe, to learn how DIHs can support start-ups to commercialise their products and services to end users. Learn with several speakers from both ecosystems and join the DIHNET.EU Community to follow up the discussion: https://dihnet-community-1.fundingbox.com/
Speakers: Mayte Carracedo (Chief Business Developer & Co-Founder at FundingBox), Maurits Butter (Senior Scientist at TNO), Thorsten Hülsmann (CEO at Digital Hub Logistics Dortmund / SME Enabling Center "Digital in NRW"), Bogdan Ceobanu (Policy Officer at Start-Up Europe), Alicia Gómez (Project Manager at Digital Innovation Hub Industry 4.0, DIHBU), Claudio Rubio (Business Development Manager at Tacticatic), Anita Lieverdink (Manager at TekDelta and Coordinator of the Working Group 'Startups & Scale-ups' of the Dutch AI Coalition), Camiel R. Verschoor (CEO at Birds.ai).
Bridging Greek Tech Innovation - Tom Katsioulas the Mindspark
An interesting share of experience on bridging Greek Tech Innovation, by Tom Katsioulas, Silicon Valley Technology executive.
Thanassis (Tom) Katsioulas is a technology executive, with several year of operating experience in high tech for Fortune 50 companies and startups. Currently, Tom is the Chair of Global Semiconductor Alliance Trusted IoT Ecosystem Security (TIES) a collaborative platform among several companies and industry standards bodies.
Tom’s experience includes, Cloud, IoT, Electronics Supply Chain Security & Trust, Digital Transformation, PLM & SaaS Applications Embedded Systems, ML & AI, Factory Automation, Semiconductors, and Electronic Design Automation.
More About the Trusted IoT Ecosystem Security (TIES): https://www.gsaglobal.org/iot/ties/
Keynotes:
Mindspark, Mindset, Mindbridge (2018): https://youtu.be/3ww3WGKOpgQ
IoT will spark evolution for Growth (2016): https://youtu.be/5PDtZ6MLamY
Translating research into a multi billion dollar global company - Sherwn Gree...NORCAT
Research is often defined as turning money into knowledge whereas innovation is considered the process of turning knowledge back into money. For academic institutions and companies that invest in research, this NORCAT Hot Topics event will focus on the exciting and challenging process of looking at research through a “prospective commercialization” lens. Does this research have a commercial application? How do I assess the market opportunity? What is the end goal? So many challenging yet important questions!
Scaling Enterprise Agility amidst Cross Border Merger by Rocky Woestenborghs ...Agile India
ING has been a frontrunner in the banking industry for more than a century and aims to become 'one global ING' that delivers a consistent customer experience to all its customers across the globe. The bank has taken the first big step towards this ambition by uniting its two biggest countries – the Netherlands and Belgium. The project aims to create a single operating model across the border, with simpler, standardized processes and integrated activities that will improve operational efficiency and agility.
While everyone acknowledges that mergers and acquisitions are an essential part of scaling an organization's impact, however, these are usually executed in a very top-down, waterfall-ish approach. Typically such initiatives don't embody any agile values or mindset. As a leader driving this change, Rocky will narrate the story of merging 2 agile organizations with more than 8000 people's workforce. He will share his experience on how the two countries are joining forces, pooling talent plus creativity to deliver one set of customer journeys on an integrated platform, that will result in a truly empowering customer experience.
More details:
https://confengine.com/agile-india-2019/proposal/9683/scaling-enterprise-agility-amidst-cross-border-merger
Conference link: https://2019.agileindia.org
World's First Blockchain Social Stock Exchange (BSSE) with multiple framework...Johnny Moi
The world's first Blockchain Social Stock Exchange (BSSE) with Strategic, Technology, Scriptural, AI & Blockchain, Digital, and Global Standards frameworks among others by Johnny Moi.
Reward-Based Crowdfunding for Technology-Oriented Start-UpsDennis Brüntje
Presentation at the 18th Forum Entrepreneurship Research (G-Forum) – Annual Interdisciplinary Entrepreneurship Conference on November 13, 2014 in Oldenburg, Germany.
The 6-18 months following launch of an enterprise or start-up are critical. Once a prototype has been launched and is in the market, a key priority is to achieve growth. Known as scaling up, this growth process typically requires achievement in three core areas:
Achieving product / market fit: Continually developing your product and business model to ensure the widest and deepest possible growth in terms of users;
Growing the human resources and decision-making capacity of your firm: Ensuring that your talent and governance structures are continually evolving to meet growth requirements;
Securing finance: Making sure you have the financial resources to grow, either using organic cash flow or external financing.
This presentation will offer a brief roadmap to prepare for your scaling up journey. It will include practical tools, methods and advice for different aspects of scaling, and outline some common pitfalls seen along the way.
3 Years of FinTech Forum: Meet the Alumni (FTF1 / Nov. 2013)Samarth Shekhar
Countdown to 3 years of FinTech Forum. Startups in Germany / D.A.CH raised over $1.3Bn in 2015, overtaking the UK. All the top 3 largest European funding rounds in 2015 were in Germany. As FinTech Forum turns three in July 2016, we asked some of our alumni what they were up to back in 2013, their achievements and plans, starting with the “Class of 2013” (1st FinTech Forum / Nov. 2013).
Short presentation on "Software Tools for Venture Capital Process" discussing some of the innovations and developments in tools that support the venture capital process. Presented at ISBE 2012 conference in Dublin.
BeWise lecture: Siim Lepisk '7 Key Topics for Getting Funding' @ EBS 13 Oct 2014JCI Tallinn BeWise
The CEO of Prototron Siim Lepisk talks about different sides and factors of starting a business, introducing the topic trough examples from real life.
Siim Lepisk has graduated MBA and Executive MBA programs in EBS and has spent half of his life on information systems and e-marketing projects. As the CEO of Prototron he is looking for new success stories in Estonia to assist them in the preparation phase of the first prototype to concur the world. Prototron provides startup-s funding, mentors, coaching and comprehensive growth support.
The lecture deals with start-up business steps as:
• Scaling thinking
• Creating a team
• The idea
• Business model & more.
Brochure about SME Instrument in Horizon 2020 programmeParma Couture
Businesses can now get EU funding and support for innovation projects that will help them develop and expand into other countries – in Europe and beyond.
The funding is available through the SME Instrument, part of the EU's Horizon 2020 programme.
The SME Instrument offers small and medium-sized businesses:
- funding for innovation projects in two phases
concept and feasibility assessment phase (phase 1);
- innovation project (phase 2);
- support services to help you make money from your innovation, including help accessing private financing–commercialisation (phase 3);
- coaching – to enhance the firm's innovation capacity and help align the project to strategic business needs.
To qualify for funding or other support, a project must fit one of the current bottom-up SME Instrument topics.
Grow VC presentation in CommunicAsia 2013 event in Singapore: Where Money Meets the Talent. We discuss especially about new funding models, and now to get p2p investing, crowd funding and traditional investing models to work together.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
1. Guidelines for Financing an ICT
Start-Up
For Researchers and Entrepreneurs
Go Beyond
http://www.go-beyond.biz/
November 2013
www.eig-project.eu
1
2. Introduction
“The lack of access to relevant sources of investment or other
suitable sources is a key factor preventing the growth and
expansion of the ICT sector in Europe” (Access ICT,
deliverable 3 11)
“Research teams/ SMEs were found by investors to be a long
way from being considered “investment ready” and in need
of comprehensive support to ensure understanding of
investor requirements and how to position their idea
towards investors” (Access ICT policy recommendation)
November 2013
www.eig-project.eu
2
3. Why think about funding?
ü To involve the investment community throughout the
framework of R&D projects from design to commercialisation
in order to increase your chances of success (Policy
recommendations for Access ICT)
ü To be prepared to raise money as it takes a LOT of time and
energy
ü To understand when it’s the best time to commence a
financing round
ü To take advantage of coaching, mentoring and key contacts
where/and when possible
November 2013
www.eig-project.eu
3
5. 1. Key Questions When Developing Your
Financing Strategy
Motivation?
November 2013
Money &
Timing for
the next
stage of
development
and beyond?
www.eig-project.eu
Type of
financing/
investors?
Working
model
5
6. 1. Define Your Stage of Development and
Source of Funds
Suppliers and/or customers
Founders,
Family &
Friends
Equity Gap
Business Angels
Families & Strategic Investors
Suppliers, Prizes,
Grants, Government
Support
Venture capital,
Equity crowdfunding
Commercial Banks
Seed
Up to €50K
November 2013
Start –Up
Series A & B
Up to €500k €500k to €1M
www.eig-project.eu
Expansion
€750k upwards
Private
Equity
Equity
markets
Established
€50M upwards
6
7. 2. Funding Sources Available
Typical capital
for
Source
Founders,
Family &
Friends (F+F’s)
Industrial
partner:
Suppliers
and/or
customers
•
•
•
•
•
Research
Prototype
Process for biz
model
Product,
business &
service
development
Explore new
markets
Right timing
Benefits
•
•
Seed
Start-up
Seed
Start-up
Series A & B
Expansion
Established
•
•
•
•
Speed
Credibility: they
know you
Investors drive
based not only
on financial
returns
Speed
Investors with a
strategic insight
Force
entrepreneurs
to be business
oriented
Risks
•
•
•
•
•
•
Relationships
Over-priced
in the market
Defaults
Relationships
Conflict of
interest
Lose
freedom
* Private individuals, Ex. Entrepreneurs, retired, transition or active
executives/ professionals
November 2013
www.eig-project.eu
7
8. 2. Funding Sources Available
Source
Typical capital for
•
Bank Loans
•
Business &
operational
development
efforts
Further product
development
Right
timing
Series A
and B
Expansion
Benefits
•
•
Risks
•
No equity
•
Push
entrepreneurs
to make sales
•
Awards in
Startup
competitions,
government
grants
November 2013
•
•
Product,
business &
operational
development
Market survey
Seed
Startup
www.eig-project.eu
•
•
•
No equity
High visibility/
Free press
Free coaching
•
•
Credit rating
Banks reluctant
to lend to small
& risky firms
that lack
collateral
Paperwork/time
consuming
Entrepreneur
commits to
tasks that
deviate from
core business
Bureaucracy
8
9. 2. Funding Sources Available
Source
Typical capital for
Right
timing
Benefits
Risks
•
•
•
Equity
crowdfunding*
•
•
•
Business
Angels**
•
•
November 2013
Product
development
Working capital
Set process for
business model
Product, service
& operational
development
Strategic
alliances
Marketing
Seed
Start-up
•
•
Seed
Start-up
Series A
and B
•
•
•
Peer effect:
collective
intelligence
Powerful
marketing tool
Access to a mass
of investors
Smart money
Lead investor in
board of directors
Network
•
•
•
•
•
Significant
differences in
valuation
(generous)
Lack of
regulation
No idea who
the investors
are
Time
Other sources
High capital
returns
Exit in
medium term
* Online platform allows anyone to take a small stake in an unlisted or private business
** Private individuals, Ex. Entrepreneurs, retired, transition or active executives/ professionals
www.eig-project.eu
7
10. 2. Funding sources available
Source
Typical capital for
•
Strategic
•
investors, families
•
and funds
•
Venture Capitals
(VC’s)*
•
•
Operational &
product
development
Hire top talent
Move company
into a significant
position of the
industry
Move company
into a significant
position within the
industry
Achieve
profitability
Prepare company
for an exit
Right
timing
Benefits
•
Series B
Expansion
•
Risks
Highly
entreprene •
urial focus
Exposure
•
Expansion
•
•
Shared risk
Network
•
•
Hard to reach
unless there is a
personal
introduction
Priority VC
schedule: business
strategy will suffer
Pressure or delay
on Time to exit
Loss of control
* Professional investors usually in a partnerships
November 2013
www.eig-project.eu
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11. 3. Where to seek funds?
Good starting point: http://www.ict-finance-marketplace.com
Source
Where to seek
•
Investment Community/Forums and Trade Bodies e.g. EBAN; EVCA
Major network Events e.g. European Tech Tour, Tech Media
Trade Fairs e.g. ICT 2010, TERENA, Eureka, Eurostars
Business angel networks e.g. London Business Angels, Go Beyond
Investing
Chamber of commerce
Start-up competitions,
grants and government
funds
•
•
•
•
•
Venture competitions e.g.Venture
Conference meetings e.g. ERRIN ICT Working Group
Trade Fairs e.g. ICT 2010, TERENA, Eureka, Eurostars
Multilateral banks e.g. Inter-American Development Bank (IDB)
Government promotion agencies e.g. CTI Switzerland
Equity crowdfunding
platforms focus mainly in
European
projects/companies
•
•
•
•
Crowdcube
Seedrs
Wiseed.fr
Indiegogo (international)
Business Angels
Venture Capitals
November 2013
•
•
•
•
www.eig-project.eu
11
12. 4. How to get investment ready
Executive
Summary
Elevator Pitch
Components of
business plan/PPT
presentation
(slide deck)
Communication
vehicle
Management team & Organization
Product or Service
Market & Competition
Financials
Exit Plan
November 2013
www.eig-project.eu
12
13. 5. How to manage a financing round
GGETTING
ACQUAINTED
Legal
Documents
&
activities
NEGOTIATION
Articles of association
Term Sheet
Shareholder Agreement
Subscription Form
NDA
Power of attorney
If project: constitute the company
General Assembly
Week
TRANSACTION
1
2
3
Fix an appointment in notary
4
5
6
7
8
9
10
Executive Summary
Long and short power presentation
General
Activities
Virtual and Physical pitches
Due Diligence to the entrepreneur and investor
Open an escrow account
Build and review a work plan: credible timeline
November 2013
Create the buzz
www.eig-project.eu
13
14. 6. How to manage investors
(and follow-on rounds)
Q: Do you think a closing is the ending?
A: No… it’s just the beginning!
How to manage your investors?
ü
Address issues quickly and openly with your investors
ü
Investors can be great assets by serving as Board member or Advisors
ü
Communicate regularly with your investors through reports and/or newsletters
How to manage follow-on rounds?
ü
Start preparing the field for a new financing round
ü
Think of an exit from day one as most of the funding sources are temporary and investors
will eventually want their return
ü
Regularly review business, financing and exit strategies to ensure they are consistent and
aligned with your (and Founder’s) objectives
November 2013
www.eig-project.eu
14
15. Summary Thoughts
ü Fundraising is time consuming and carries an emotional
drain
ü Treat your investors like allies – they are there for you
ü Communicate clearly and listen to what the other party
says – an outside opinion is a most precious gift
ü Always do due diligence on your investors: what value can
THEY bring beyond financing?
ü Create a buzz: financing a company on a cold call is (nearly)
unheard of
November 2013
www.eig-project.eu
15
17. References
•
•
•
•
•
•
•
•
•
•
•
•
http://www.ict-finance-marketplace.com
Collins Liam and Pierrakis Yanis, The Venture Crowdfunding equity
investment into business, Nest July 2012
Access ICT, deliverable 3 11
Policy recommendations for ICT
Access ICT, Deliverable 5 15-M24_updated_M29.pdf)
ACCESS ICT Investment Readiness & Investor Forum @ Barcelona
Greathouse J. 5 trick questions every entrepreneur should ask themselves
before asking for money [online] Available at:
www.forbes.com/sites/johngreathouse/2012/05/09
Baumann Brigitte, Half Day Training module, 2012
Baumann Brigitte, Manage and Follow rounds, part I and II, 2012
http://www.ict-finance-marketplace.com/
ICT FM Toolkit
‘Business Plans that Raise Money and Generate Success’, Financing for
Growth Workshop, the Saïd Business School, Oxford, 21-22nd March 2011
November 2013
www.eig-project.eu
17
19. 1. Glossary of financing rounds
Round
Definition
Typical amount
Seed
Great ICT innovation
Initial research carried
Up to €50K
Start-up
Working prototype
Set process for business model
No sales yet
Up to €500k
Series A&B
Product completed
Generated sales
€500k to €1M
Expansion
Generating profits
Developing new products
€750k upwards
Established
Established company
Exploring new markets
€50M upwards
November 2013
www.eig-project.eu
6
20. 5. Deal Terms Glossary
Non-disclosure
Agreement
Also known as a confidentiality agreement (CA), confidential disclosure
agreement (CDA), proprietary information agreement (PIA), or secrecy
agreement, is a legal contract between at least two parties that outlines
confidential material, knowledge, or information that the parties wish to
share with one another for certain purposes, but restrict access to or by
third parties (Wikipedia)
Articles of Association
Key part of the Company’s constitution that governs its running , setting
out the voting rights of shareholders, how shareholders’ and board
meetings will be conducted, and important provisions such as good
leaver / bad leaver, drag along and tag along (Toolkit)
Term sheet
Is a non-binding offer to invest, although certain provisions will be legally
effective. Most important legal document associated with the investment
process. It sets out the terms of each document that you refer to
separately in the chapter (Toolkit-GBI module)
November 2013
www.eig-project.eu
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21. 5. Deal Terms Glossary
Power of Attorney
Subscription form
Shareholder agreement
November 2013
A legal document giving one person (called an "agent" or "attorneyin-fact") the power to act for another person (the principal). The
agent can have broad legal authority or limited authority to make
legal decisions about the principal's property and finance.
(Investopedia)
Proof that an investor commits to buy the shares. If signed by the
company it is also proof that they recognise the subscription. This
document must summarize what you have subscribed to i.e. it
recalls the resolutions of general assembly that opens the equity
and details given by the launching body (Toolkit-GBI module)
A legal document (legal wording and legally binding) for both
parties (the investor and entrepreneur) that defines each parties’
contributions, rights, obligations and limitations. It anticipates
various exit scenarios (by either party). It is generally amended with
new-comers, if not redone completely (Toolkit-GBI module)
www.eig-project.eu
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