Expara's CEO, Mr. Douglas Abrams' Keynote speech at TechSauce held last Sunday 24 July, 2016 at Lotus Suite 5-6 Bangkok Convention Centre @Central World
Sasin Entrepreneurship October Sundowner
Topic: Venture capital in southeast Asia
Speaker: Douglas Abrams
Date: October 15, 2014
Time: 18:00-20:00
Place: Room 502, 5th floor, Sasin
Venture Capital and the Finance of Innovation 2nd Edition Metrick Solutions M...ruwakyz
full download http://alibabadownload.com/product/venture-capital-and-the-finance-of-innovation-2nd-edition-metrick-solutions-manual/
Venture Capital and the Finance of Innovation 2nd Edition Metrick Solutions Manual
Things startups need to know if they want to raise capital from Silicon ValleyJeff Clavier
I used this deck in a keynote at the Kima Ventures portfolio day, in Paris (France) on Dec 9, 2013. Kima has a very large portfolio of investments, mostly located outside of the US. Founders often hope to raise capital in Silicon Valley over the course of their financing journey, and my goal was to draw their attention to the traps and pitfalls ahead of them.
MtB Start-up School: education on entrepreneurship, business planning, venture capital market and Silicon Valley eco-system provided by Alberto Onetti during the special events of the Mind The Bridge 2010 Italy Tour.
Business Model Canvas explanation and examples from technology, creative, and home products industries:
Cirque Du Soleil Business Model Canvas
Skype Business Model Canvas
Easy Taxi Business Model Canvas
Facebook Business Model Canvas
Kinder Business Model Canvas
Louis Vitton Business Model Canvas
Airbnb Business Model Canvas
Nespresso Business Model Canvas
Netflix Business Model Canvas
Google Search Business Model Canvas
Black Eyed Peas Business Model Canvas
This is the partnership proposition canvas v0.4: a plugin tool to the business model canvas, for better conversations on your partnerships .
This has recently been updated a new, more user friendly format called the partnership canvas.
Check it out here:
http://valuechaingeneration.com/2014/10/17/the-partnership-canvas/
Expara's CEO, Mr. Douglas Abrams' Keynote speech at TechSauce held last Sunday 24 July, 2016 at Lotus Suite 5-6 Bangkok Convention Centre @Central World
Sasin Entrepreneurship October Sundowner
Topic: Venture capital in southeast Asia
Speaker: Douglas Abrams
Date: October 15, 2014
Time: 18:00-20:00
Place: Room 502, 5th floor, Sasin
Venture Capital and the Finance of Innovation 2nd Edition Metrick Solutions M...ruwakyz
full download http://alibabadownload.com/product/venture-capital-and-the-finance-of-innovation-2nd-edition-metrick-solutions-manual/
Venture Capital and the Finance of Innovation 2nd Edition Metrick Solutions Manual
Things startups need to know if they want to raise capital from Silicon ValleyJeff Clavier
I used this deck in a keynote at the Kima Ventures portfolio day, in Paris (France) on Dec 9, 2013. Kima has a very large portfolio of investments, mostly located outside of the US. Founders often hope to raise capital in Silicon Valley over the course of their financing journey, and my goal was to draw their attention to the traps and pitfalls ahead of them.
MtB Start-up School: education on entrepreneurship, business planning, venture capital market and Silicon Valley eco-system provided by Alberto Onetti during the special events of the Mind The Bridge 2010 Italy Tour.
Business Model Canvas explanation and examples from technology, creative, and home products industries:
Cirque Du Soleil Business Model Canvas
Skype Business Model Canvas
Easy Taxi Business Model Canvas
Facebook Business Model Canvas
Kinder Business Model Canvas
Louis Vitton Business Model Canvas
Airbnb Business Model Canvas
Nespresso Business Model Canvas
Netflix Business Model Canvas
Google Search Business Model Canvas
Black Eyed Peas Business Model Canvas
This is the partnership proposition canvas v0.4: a plugin tool to the business model canvas, for better conversations on your partnerships .
This has recently been updated a new, more user friendly format called the partnership canvas.
Check it out here:
http://valuechaingeneration.com/2014/10/17/the-partnership-canvas/
Venture Design Workshop: Business Model CanvasAlex Cowan
These slides support the various workshops I do and my online curriculum in two principal places:
1. Business Model Canvas Tutorial
This is a more fully articulated instructional, complete with templates: bit.ly/nicebmc.
2. Startup Sprints
This is a structured self-service for Venture Design/new venture creation: bit.ly/startupsprints.
Business Model Canvas vs Lean Canvas vs One-Page Lean StartupRod King, Ph.D.
The Business Plan is the traditional document that established businesses and non-profit organizations as well as startups, entrepreneurs, and innovators use to document their strategy and tactics for achieving goals in projects. However, the traditional business plan is voluminous, complex, filled with grand hypotheses (vision), and becomes increasingly irrelevant as a project proceeds in the real world.
In recent years, many individuals and organizations have been abandoning the traditional business/strategic plan in favor of one-page documents that present project plans, business models, and ecosystems. The most common one-page project summaries are currently the tools of the Business Model Canvas, Lean Canvas, and One-Page Lean Startup. This presentation briefly introduces and compares these three business model (ecosystem) mapping tools especially using the workflow of 8 activities for Lean Startup Project Management.
Which business model (ecosystem) mapping tool is your favorite? And why?
What other tools are you using for summarizing, presenting, and managing your project plans as well as business models and ecosystems?
We look forward to hearing from you.
Best regards.
This presentation is based on the top seller book "Business Model Generation" by Alex Osterwalder and Yves Pigneur. This book introduces the Business Model Canvas, the world's leading tool in creating and analyzing business models. This great tool allows you to sketch out your business model visually without starting with a scary business plan.
You can take my online course which covers more content, examples, quizzes, challenges and provides a certificate of completion.
Get course discounts and learn more:
www.playtactic.com
I hope you find this beneficial and good luck on your business model ;)
How to scale a global software business.
Talk by Stephen Allot, Crown Representative for SMEs at Business of Software Conference Europe 2015.
Product
Plan
People
Processes
Problem Solving
A slide-by-slide approach to creating an effective pitch deck, presented by Marc Phillips, Managing Partner at Arafura Ventures and author of "Inside Silicon Valley: how the deals get done," and co-sponsored by David Ehrenberg, Founder and CEO of Early Growth Financial Services, and Greg Heibel, Partner of Emerging Companies at Orrick.
Using real-life examples from winning pitch decks, this presentation covers everything you need to know to create an impactful pitch deck, from market size calculations to competitor matrices, revenue projections to exit strategies, and more.
For more startup advice and advance notice of future webinars, follow us @EarlyGrowthFS
The current business model of almost every organisation won’t survive the next 10-20 years.
How can you future-proof your organisation, and how do you transition?
Most of us know why business model innovation is essential. Not many know how to do it. These slides are from the webinar: Transform your Business Model to Stay Ahead of The Curve by Dr. Jeffrey Tobias, Managing Director of The Strategy Group. https://www.thestrategygroup.com.au/transform-your-business-model-to-stay-ahead-of-the-curve/7/
This presentation provides the ultimate guide to Portfolio Product Management
1) New Product Development
New Product Development Process
Internal Sources of New Product Ideas
External Sources of New Product Ideas
Idea Screening
Concept Testing
Business Analysis of New Products
Develop a Marketing Strategy
Agile Product Development - Scrum Framework
Test Marketing
Commercialization
2) Performance Evaluation
Performance Evaluation: Major Component Activities
Performance Evaluation Process
Performance Attribution Analysis
Scope of Performance Appraisal
Scope of Investment Performance Presentation
3) Risk Management
Risk Management Procedure
Risk Identification
Risk Assessment
Risk Control Matrix
Risk Item Tracking
4) Portfolio Prioritization
Portfolio Prioritization Process
Project Portfolio Prioritization Matrix
Product Prioritization Frameworks
5) Resource Optimization
Factors Affecting Project Resource Management including Optimization
Resource Optimization - Time phased resource plan
Schedule Optimization
Multi-Project Critical Path
Multi-Project Critical Chain
6) ROI Maximization
Agile Investment Management
Product Portfolio Investment Map
5 Tips for Product Development Strategy
7) Product Consistency
Brand Consistency
UX/UI Consistency
This presentation is for the TCN Venture Fast Track. Please review the slides in conjuntion with the below video:
http://www.youtube.com/watch?v=ALjvwVHHzh8&feature=share
Moderated by Agile experts Harry Ulrich and Todd Miller, this presentation presents multidimensional best practices for Agile Development that you can start executing right away.
Learn more about the root causes of Agile failures, practical wisdom to drive better collaboration and alignment across Agile teams, and strategies to scale Agile successfully across your organization.
Workshop innovation management using the lean canvas by Amr NomanAgile ME
The Lean Canvas is a great tool for rapid identification and creation of startups ideas. When it is used in an iterative and incremental approach, the lean canvas becomes an excellent vehicle for innovation management.
In this interactive workshop, we will explore the lean canvas as an innovation management tool. Attendees will be introduced to the key ideas in the canvas and how to use it to generate and judge innovation ideas. They will iterate through multiple versions of the canvas and will use rapid prototyping techniques to validate the riskiest assumption(s) in their startup idea.
We will get out of the room, find customers everywhere and learn and validate assumptions every 10 minutes!
- Are we building the right product for our users? - Are we building it the right way? This presentation aims to demystify how to develop a repeatable process for product development to ensure we are constantly building the right products our users love, and are willing to use.
Product Design And Development Powerpoint Presentation SlidesSlideTeam
If you have thought of new product launch, our content-ready product design & development PowerPoint presentation is an apt choice to vent out your ideas and thoughts. This Product launch plan presentation slide includes multiple slides such as distribution mapping, competitive strategies, market attractiveness, development manufacturing, operations and business marketing plans, digital marketing communication plans, budgeting template, repositioning strategy, building brand preference, operations cost analysis, marketing and launch cost analysis, business and financial analysis, feasibility and review, evaluating scores, alpha & beta testing timelines, quality check and launch monitoring dashboard etc. You are just a few clicks away to put up these PPT templates into your presentation. The product management presentation designs can also be used for a couple of subjects such as market entry strategy, product promotion, launch plan, product market strategy, brand management and market penetration. Download our product design & development PPT graphics to make impressive presentation. Establish your authority with our Product Design And Development Powerpoint Presentation Slides. Display ability to control. https://bit.ly/3n0GDsZ
We are in the age where lot of traditional business are building software that are truly disruptive and they have started to embrace agile.
Many fail to realise the importance of scaling their analysis practices, to successfully plan and shape their portfolio.
Previously working as an Agile Transformation Consultant, and taking part in delivery of products for large enterprises, this talk is about practical techniques that enterprises can take away to increase their organization agilty
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
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Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
1. October 2016
2016 Business model canvas workshop
What do investors look for in a business plan?
Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
2. 2
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
About the facilitator
• Wharton MBA
• JP Morgan – Vice President - IB Technology, Global
Markets Internet Marketing
• Parallax Capital Management – Co-founder and
MD - Venture Capital
• Extream Ventures – Co-founder and MD - S$20
million VC fund
• Expara – Founder and MD - IDM Ventures
Incubator, fund, advisory, training
• NUS – Adjunct Associate Professor, Business
School, Entrepreneurship
• Sasin – Visiting Professor, Venture Capital
3. 3
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Business model canvas workshop
12:00 PM Key elements for success - value proposition and innovation
1:30 PM Break
1:45 PM Key elements for success - competitive analysis and strategy
3:15 PM Break
3:30 PM Fund raising and financial plan
5:30 PM End
4. 4
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
From Idea to Investment
• Key elements for success
• Financial plan and fundraising
5. 5
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Key elements for success
• Develop an innovative product – Innovation
• Solve a problem for customers – Value proposition
• Identify your customers – Market identification and analysis
• Reach your customers – Marketing strategy
• Compete when others enter - Sustainable competitive advantage
• Make money – Business model and financial plan
• Team – A team or B team
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Problem Solution
Key
Metrics
Cost drivers Revenue model
Value
proposition
and
innovation
Sustainable
competitive
advantage
Channels
Customer
segments
Market size
Customer
archetype
High concept
Existing
solutions
Top 1-3 customer
problems
How are these
problems solved
today?
Your solutions to
customer
problems
Key numbers that
tell if you are
succeeding
What is innovative
about your
solution? Why are
you better than
existing solutions?
One sentence
that says it all
How will you
create barriers to
entry for
followers?
How will you get
your product to
customers?
Who are your
target
customers?
How big is your
market and how
fast is it growing?
Characteristics of
your key
customers
How do you
generate
revenue?
What are your
key cost drivers?
Expara Business Model Canvas
7. 7
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Why is biotech unlike any other?
• Lean startup does not apply to biotech
• Can’t develop new drug, biologic or medical device, market it
immediately to the public, and later make small adjustments
• Most highly regulated industry
• Development to fundraising can take three to 10 years
• For companies that succeed, the revenues and profits far
exceeds other sectors
• Immensely gratifying
• You have to sell the science
8. 8
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Key differences between tech and biomed plans
Value of IP
Regulatory approval
Marketing strategy
Time to market
Business model
Valuation model
Exit strategy
Risk
Scale of financing
Factors
Bio-tech Med-tech
Product Tool
How different is it from tech plans?
Low Somewhat High
9. 9
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Questions to answer
• Innovation
• Value proposition
• Market identification and analysis
• Marketing strategy
• Sustainable competitive advantage
• Financials
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Don’t go too early or too late
Measure of
performance
Measure of effort invested
The technology adoption S curve
11. 11
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Value proposition and innovation
1. What is the painful problem you are solving for customers? How
painful is that problem (cancer vs flu)?
2. What is your product and what is innovative about it?
3. What are the shortfalls of the current solutions?
4. How do you solve this problem and can you quantify your benefit?
5. How does your innovation enable you to accomplish this?
13. 13
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Disruptive business model or disruptive tech
• Diamond is the first mover in
portable MP3 in 1998
• Apple enters in 2003 and
captures 90% of the market
• Business model innovation –
hardware + software + service
14. 14
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Business model innovation: Gillette to Google
• Gillette – razor and blade
• Southwest Airlines – budget airlines
• Dell Computer – mass customization
• Charles Schwab – on-line broker
• Amazon – ecommerce
• eBay – peer to peer marketplace
• Google – search-based advertising
15. 15
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Market identification and analysis
1. Who is your customer?
2. How big is your market and how fast is it growing?
– Top-down approach
– Bottom-up approach
3. What trends in your market are favourable for you?
– Technological, social, demographic, regulatory
4. Who are your direct and indirect competitors?
5. How is your market segmented?
16. 16
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Top-down revenue projections
Total addressable market
Target market
Target segment
Market share
18. 18
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Marketing strategy
1. How is your product differentiated from your competitors’ product?
Use a comparison matrix to illustrate.
2. What is your position in the market? Use a positioning map or
Blue Ocean Strategy canvas to illustrate
3. What are your price, place, product, promotion and initial sales
plans
4. What is your tagline?
20. 20
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Positioning map
Portability
Value
Competitor 2
Your company
Competitor 1
Competitor 3
Competitor 4
21. 21
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Blue Ocean strategy canvas
www.blueoceanstrategy.com
23. 23
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Sales and distribution
• Great sales and distribution vs great product
• Best sales is hidden
• Products don’t sell themselves
24. 24
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Metrics for effective distribution
• CLV: total net profit earned over the course of relationship with
customer
• CAC: cost to acquire a new customer
• CLV>CAC
25. 25
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Sustainable competitive advantage
1. How will you compete with small followers?
2. How will you compete with large companies who decide to move
into your space?
3. What is your IP strategy?
4. What are your competitive strategies to create barriers to entry?
26. 26
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
First-mover advantages and disadvantages
• Reputation
• Preempting positioning
• Switching costs/Lock-in/Network effects
• Unique channel access
• Move down learning curve
• Favorable access to inputs
• Definition of standards
• Institutional barriers – IP protection
Advantages
• Pioneering costs
• Demand uncertainty
• Changes in buyer needs
• Specificity of investments
to early generations
• Technological
discontinuities
• Low-cost imitation
Disadvantages
27. 27
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Established company strengths and weaknesses
• Learning curve
• Reputation effect
• Cash flow
• Economies of scale
• Complementary
assets
Advantages
• Difficult to innovate
• They need to satisfy existing customers,
partners and supply chain
• Existing organizational structure is appropriate
to current tasks
• Risk aversion
Weaknesses
28. 28
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Opportunities that favor new firms
• Existing firms frozen in the headlights
• Disruptive technologies and business models
• Uncertainty: existing firms’ advantages in market research are
neutralized; risk propensity
• Technologies: Discrete versus systemic technologies, based on
human capital, general purpose rather than specific
• Bad customers: Enter market that is unattractive to existing
competitors due to established cost structure
29. 29
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Regulatory approval for drug development
Drug
discovery
and pre-
clinical
Phase I Phase II Phase III NDA/BLA
3.5 years 1 year 2 years 3 years 1-2 years
Success rates: 30% 70% 70% 80%
Financing required: $250K to
$1.5M
$2M to $20M $20M to
$100M
30. 30
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
From Idea to Investment
• Key elements for success
• Financial plan and fundraising
31. 31
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
In the financial section of the business plan
1. Business model
– Revenue model
– Cost structure
2. Financial projections
3. Valuation
4. Funding required and equity offered
5. Use of Proceeds
6. Exit Strategy and ROI
32. 32
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Elements of a business model
• Revenue models
• Cost structures
33. 33
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Differences in business models
Biotech
Tool platform
Hybrid
Product - virtual
Med tech
Similar to tech
Revenue drivers and cost
drivers
34. 34
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Biotech- product business model
Product
One- product
Platform
Drug discovery Licensing
Commercialization
In-house
Partner
Pricing & positioningAlternative
GenericsDiscount
Premium
Research &
manufacturing
In-house
Virtual
35. 35
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Biotech business models
Advantages Disadvantages
Tool
platform
Generate revenues early Lower returns
No need for regulatory
approval
Hybrid
(best of
both
worlds?
Balance of risk and
return
Spread of resources
thinly
Generate revenues early Lack of strategic focus
Product High returns Scale of financing
No revenue generation High risk
Time to
commercialization/time
to exit?
36. 36
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Differences in valuation models
Biotech
Product: Simulation
(incorporate DCF)/real
option valuation
Hybrid: DCF and
simulation (incorporate
DCF)/real option
valuation)
Tool Platform: Simulation
(incorporate DCF)/real
option valuation
Med tech
Similar to tech
valuation models
Discounted Cash flow
(DCF)
37. 37
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Calculate investor’s ROI including dilution
38. 38
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Stages and sources of funds
Founder’s
Capital
Seed/
Angel
Series
A, B, C
Mezzanine Pre-Exit Exit
VC hurdle rates 60-100% 40-60% 20%
OM
F,F&F
Incubators
corporations
government
Customers, suppliers,
strategic partners
VCs, Banks for VC loans
R&D Establishment GTM/Rollout Accelerated Expansion Maturity
Enablement growth
39. 39
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Value inflection points in biotech- product
Early
– Clearly articulated strategy
– Team
– The key IP
– Initial proof-of-concept
Later
– IND-enabling studies
– Clinical safety
– Clinical proof-of-concept
– Phase 3
– Market validation
40. 40
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Differences in exit strategy for biotech - product
• Biotech companies can exit via IPO without revenues
• Tesaro, Kythera and Intercept are companies that hit the public
market during their phase III program in 2012
• Tetraphase also exited via a $75 million IPO in 2013
42. 42
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Key elements of a term sheet
• Board of directors
• Protective provisions
• Drag-along agreement
• Conversion
Control
• Price-per-share
• Valuation
• Amount of financing
• Liquidation preference
• Vesting
• Options pool
• Anti-dilution
• Pay-to-play
Economics
43. 43
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Douglas Abrams Workshop organized by ETPL’ Investment and Spin-off Management Division
Contact us
• Douglas Abrams
• Expara Pte. Ltd.
• dka@expara.com
• www.expara.com
• 65-6323-3084, 65-9780-5381 (hp)
• Block 71 Ayer Rajah Crescent, #02-10/11 Singapore 139951