Fundable @ Crowd15
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Startups.co is the world's largest startup launch platform, providing tools and resources to help entrepreneurs launch and grow startups. It has over 13.9 million users and 825,000 startups using its platform. The presentation discusses how online resources and crowdfunding have lowered the costs of prototyping and starting businesses, contributing to the rise of entrepreneurs globally. Specific crowdfunding strategies are presented, including using rewards-based crowdfunding to test demand and messaging before launching, and equity crowdfunding to raise funding by telling a compelling story. The talk emphasizes the importance of building light and testing ideas before crowdfunding, and suggests that failure is an opportunity to stay focused on learning
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Fundable @ Crowd15
- 1. Startups: The In-Crowd Feb 27, 2015 CROWD15 - Copenhagen, Denmark Founding Team, Startups.co / Fundable Chris Justice
- 4. What is Startups.co? • World’s Largest Startup Launch Platform • Provide Clarity to Entrepreneurs • A suite of tools + sites focused on helping entrepreneurs launch and grow startups.
- 6. Our Community 13.9m users 825k startups More stats @ startups.co/about
- 7. 1. Entrepreneurs are Awesome. And Damn Resourceful. 2. The Crowd is Your Compass. 3. Momentum Above All. TL;DR
- 8. Rising Goliath’s + Millions of David’s CHEAP ONLINE RESOURCES LOWER COST OF PROTOTYPING SHARED ECONOMY OF THE CROWD The Rise of the Entrepreneur
- 9. $47.3B 3,617 deals Startup Funding in the US
- 10. Case Study – Uncharted Play
- 11. Case Study – Uncharted Play Build a Network. Simplify and Amplify. Execute. Rewards: $95,000 Equity: $475,000
- 12. Rewards Crowdfunding It‘s about much more than money Prove Demand Test Price Points Test Messaging
- 13. Rewards Crowdfunding Don’t get caught with your hand in the cookie jar Be upfront on status and delivery Set up fulfillment before raising Build in a buffer for delays
- 14. Rewards Crowdfunding Know Your Audience (Like The Back of Your Hand) Personalized Messaging Suggest One Flagship Reward Create TONS of Value
- 15. The Kickstarter Problem So you just raised $$$ on Kickstarter… now what? Transition from selling product to building a business. Paul Singh – Dumbbell Model
- 16. Equity Crowdfunding Your Story Matters Investors WANT to care Momentum FOMO
- 17. Equity Crowdfunding All About The Money! How will you spend it? What milestones will you hit? Do your financials tell your story?
- 18. Equity Crowdfunding Deal Structure Equity vs. Convertible Debt Getting to a Valutation Sell, sell, sell!
- 20. Coming to America JOBS Act –Can anyone invest? When? Three most important factors in your decision to raise in the US: 1. Marketability – Cool factor. 2. Company and IP Structure – What are Investors actually getting? 3. Can the Market Handle it? Do your homework.
- 21. Gaining Ground Europe & Asia gaining ground on US startups More funding available Equal playing field in online funding – lean mentality Easier access to US investors
- 23. Takeaway #1 – Build Light, Test Hard Before crowdfunding, create your outcome. Launch Page Have an MVP – It’s cheap. Do it. Gain Commitment Utilize Resources Spend now to save later
- 24. Takeaway #2 – Failure is a Privilege Failure happens all the time. Use it to stay the course. Test messaging and value props Encourage Feedback on everything Refine your messaging and audience
- 25. Takeaway #3 – Death Valley You’ve done everything right. Well done. Now, avoid Death Valley. Don’t burn & churn too early Don’t get blinded by recent traction Don’t get sucked in by red herring deals.
- 26. I love startups. I am endlessly curious. I travel to see the world differently. cjustice@startups.co www.clarity.fm/chrisjustice Come talk to me.
Editor's Notes
- Startups are popular, cool, and attainable. $Billion funding, millions preordered, newly minted founders Not always like this
- Let‘s go back to 2012. Legislation Wave of startups Fundable born Awesome companies, talented founders, game changing products Quickly funded $10K, $25K, $50K. Training Mask New Years Eve 1 in 10 Worse ideas, bad pitches, no engagement Wanted to be THE PLACE for napkin to term sheet Got in trenches Very quickly we realized something that changed the course of our business. We Were TOO LATE. Success built long before crowdfund begins
- Startups.co born Resources, strategies, personnel to help founders Founders get stuck a thousand times before they ever crowdfund Founders started using our resources with success – Bodbot story was turning point. $155K. Did everything right to build audience, needed help executing Uncharted Play, Plum 4 of 10 biggest equity crowdfunds engaged our consulting team Take you through how and why we built the resources we did, and how they impact a growing business
- 13M backers, funders, followers, supporters. 2.5x population of Denmark
- Airbnb – $10B Pinterest - $11B (native advertising) Snapchat - $19B Uber – $40B Startup Weekend – 1500 events in 700+ cities, 123K entrepreneurs Techstars – one example of 1,250 incubators (focused on company growth) and accelerators (focused on investment growth)
- Venture Capital fundraising highest since 2007 Biggest sectors – Mobile, Software, Biotech Most deals were Early Stage, biggest were Growth Stage
- Plum Didn‘t know what resonated with customers Weren‘t ready yet to approach investors Rewards raise validated all of this
- Squeeze the Juice from your Backers Focus on the right areas – product development, infrastructure, hiring, hitting milestones Get help. Advisors, Mentors, Consultants
- India – FlipKart $11B WeTransfer - $25M raise
- Resources - Crowdspring, Survata, Clarity.fm