The document discusses entrepreneurship and startups in Italy and the United States. It compares characteristics of entrepreneurs such as age, gender, education, and prior experience between the two countries. It also discusses topics related to startups including business plans, lean startup methodology, funding sources, venture capital investment processes, and acquisition strategies of large tech companies. The document provides statistics, examples, and conclusions on building entrepreneurial ecosystems.
This document provides an overview of entrepreneurship in Italy and venture financing. It discusses the state of entrepreneurship in Italy, noting the dominance of small and medium enterprises focused on services and manufacturing. It also summarizes venture finance in Italy, noting a lack of established venture capital and small deal sizes. Key issues for Italy include deal flow, high business mortality, bridging research to business, mindsets, and managerial skills. The document then covers various topics related to entrepreneurship including what makes a successful startup, business plans, funding sources, and venture capital processes. It introduces Mind the Bridge foundation, which aims to promote entrepreneurship in Italy through various programs.
The document provides guidance on when and how much venture capital early-stage companies should raise. It recommends initially raising small amounts from friends and family, using that to build a product and pilot customers. It then suggests raising an angel/seed round and keeping costs low for the first year to prove scalability. It outlines when companies should consider venture capital versus other options. The document also provides tips on pitching VCs, including optimal fundraising seasons, pitch deck structure, and services The Rudder Group can provide to help companies raise capital.
Eric Jackson's presentation to Yahoo outlining his plan to slash the company’s workforce by 75%, replace Marissa Mayer with an operations-focused CEO and bring in a strategic partner to help navigate the tax issues surrounding its Asian assets.
Source: http://www.wsj.com/public/resources/documents/yahoopresentation.pdf
The Changing Structure of the Venture Capital IndustryMark Suster
I presented this deck at the 2014 PreMoney Conference. I wrote a blog post here that goes into more detail: http://bit.ly/ChangingVC
The video of the presentation I gave is here: http://youtu.be/5MClCBUjbbE
The VC industry is changing. The press has focused on the wrong story - crowd funding. The bigger story is the shift from public financing to private financing and the bifurcation of the venture industry. This presentation examines the case.
PreMoney SF 2017: State of the Venture Capital Industry by Mark Suster500 Startups
Global capital flows have warmed the venture capital industry, leading to increased investment from foreign investors like China, increased corporate venture capital activity, and more capital from limited partners. This influx of "global warming" has supported higher valuations and more deals from 2013 to 2015. However, some correction occurred in 2016 as valuations declined and more venture capitalists cut back on investment. Still, winter was relatively mild due to sustained global capital flows into the US startup ecosystem. Going forward, the venture capital industry is well-positioned with significant dry powder from limited partners and the continued influx of global capital.
A Seed/Startup Venture Fund & Collaboration Community working with, supporting and compensating Incubators, Universities and Economic Development Agencies
Growing Your Business In The Modern Economy: 6 VCs Weigh InEric Dahl
Venture capitalists discuss how startup growth and risk have changed in recent years. Fewer startups are going public, with acquisitions now the more common exit. Growth rates and timelines can vary significantly by company and industry. While conventional wisdom says growth only occurs early, some companies like Omniture grew revenues over 2,000% in four years after being founded. VCs say there is no single definition of growth, and it depends on factors like revenue, users, or net revenue. Managing risk and building for the long-term is most important.
This document provides an overview of entrepreneurship in Italy and venture financing. It discusses the state of entrepreneurship in Italy, noting the dominance of small and medium enterprises focused on services and manufacturing. It also summarizes venture finance in Italy, noting a lack of established venture capital and small deal sizes. Key issues for Italy include deal flow, high business mortality, bridging research to business, mindsets, and managerial skills. The document then covers various topics related to entrepreneurship including what makes a successful startup, business plans, funding sources, and venture capital processes. It introduces Mind the Bridge foundation, which aims to promote entrepreneurship in Italy through various programs.
The document provides guidance on when and how much venture capital early-stage companies should raise. It recommends initially raising small amounts from friends and family, using that to build a product and pilot customers. It then suggests raising an angel/seed round and keeping costs low for the first year to prove scalability. It outlines when companies should consider venture capital versus other options. The document also provides tips on pitching VCs, including optimal fundraising seasons, pitch deck structure, and services The Rudder Group can provide to help companies raise capital.
Eric Jackson's presentation to Yahoo outlining his plan to slash the company’s workforce by 75%, replace Marissa Mayer with an operations-focused CEO and bring in a strategic partner to help navigate the tax issues surrounding its Asian assets.
Source: http://www.wsj.com/public/resources/documents/yahoopresentation.pdf
The Changing Structure of the Venture Capital IndustryMark Suster
I presented this deck at the 2014 PreMoney Conference. I wrote a blog post here that goes into more detail: http://bit.ly/ChangingVC
The video of the presentation I gave is here: http://youtu.be/5MClCBUjbbE
The VC industry is changing. The press has focused on the wrong story - crowd funding. The bigger story is the shift from public financing to private financing and the bifurcation of the venture industry. This presentation examines the case.
PreMoney SF 2017: State of the Venture Capital Industry by Mark Suster500 Startups
Global capital flows have warmed the venture capital industry, leading to increased investment from foreign investors like China, increased corporate venture capital activity, and more capital from limited partners. This influx of "global warming" has supported higher valuations and more deals from 2013 to 2015. However, some correction occurred in 2016 as valuations declined and more venture capitalists cut back on investment. Still, winter was relatively mild due to sustained global capital flows into the US startup ecosystem. Going forward, the venture capital industry is well-positioned with significant dry powder from limited partners and the continued influx of global capital.
A Seed/Startup Venture Fund & Collaboration Community working with, supporting and compensating Incubators, Universities and Economic Development Agencies
Growing Your Business In The Modern Economy: 6 VCs Weigh InEric Dahl
Venture capitalists discuss how startup growth and risk have changed in recent years. Fewer startups are going public, with acquisitions now the more common exit. Growth rates and timelines can vary significantly by company and industry. While conventional wisdom says growth only occurs early, some companies like Omniture grew revenues over 2,000% in four years after being founded. VCs say there is no single definition of growth, and it depends on factors like revenue, users, or net revenue. Managing risk and building for the long-term is most important.
The article discusses the advantages and challenges of private equity co-investment for limited partners. While co-investments promise lower fees and more control over portfolio construction, direct co-investments have actually underperformed private equity funds over the past decade. Sourcing good co-investment deals is difficult for most LPs, as the best opportunities are often restricted to large deals syndicated by top-tier GPs. Even for giant LPs, achieving co-investment targets can be a challenge given the resources required to put capital to work through smaller deals. Overall, while attractive in theory, co-investing does not guarantee better returns or control in practice for many investors.
Every year Upfront Ventures surveys our peer group for their sentiment on the fund raising environment, burn rates, areas of technology interest and the year ahead. This report summarizes the views as of January 2017.
- Global VC investment rose slightly to $27.4B in Q2 2016 due to large funding rounds, but deal volume continued declining amid market uncertainties.
- Many investors took a cautious "wait-and-see" approach by holding back from investments and focusing on evaluating existing portfolios.
- Brexit added new uncertainties in Europe while proven companies attracting late-stage funding in North America and Asia.
- Concerns over valuations led to fewer new unicorns and demands for investor protections in late-stage deals.
The Brave 100: The Battle for Supremacy in Small Business LendingFrank Rotman
Banks vs. the Innovators. Who has the advantage and who will dominate the Small Business lending ecosystem?
More fintech blogs and papers at: www.fintechjunkie.com
2014 Tech M&A Monthly - Quarterly ReportCorum Group
The third quarter of 2014 has been marked by soaring deal values, a surge of megadeals and the largest IPO in history. What does this mean to your company? Tune in to the Tech M&A Quarterly review webcast, where we look at the key deals, megadeals, valuations and trends impacting the global M&A market for software and related technology companies. We’ll examine:
The hot gaming market, including Twitch, Mojang, Bally and more
More megadeals, including Concur, Cars.com, Trulia and many others
What does Alibaba’s IPO—the largest tech IPO ever—mean to your company?
Deal reports from India to Seattle
Valuation metrics for all six tech markets and 26 subsectors
And much, much more—don’t miss the Tech M&A Monthly Q3 2014 Report.
The document summarizes findings from an analysis of over 300 investments made by First Round Capital over 10 years. Some of the key findings include:
- Companies with female founders performed 63% better than those with only male founders.
- Founding teams with experience at major tech companies like Google and Facebook saw their companies perform 160% better.
- Teams with more than one founder significantly outperformed solo founders, by 163%.
- Technical co-founders were critical for enterprise companies, which saw 230% better performance, but did not provide as much benefit for consumer companies.
- Companies discovered through unconventional means like Twitter or demo days performed 58% better than referred companies.
The document discusses the rise of the "expert economy", where professional networks connect clients with experts to share expertise in various fields. It outlines the business model of GLG, one of the largest expert networks, which connects investors and clients with over 600,000 experts for phone consultations. Expert networks have grown significantly but also faced challenges during the global financial crisis and crackdowns on insider trading. However, the expert economy continues growing and networks are expanding services like temporary expert staffing assignments. The outlook discusses trends like demand for flexible work and how expert networks could benefit from new financial regulations.
DealMarket DIGEST Issue 140 // 09 May 2014CAR FOR YOU
This document provides a summary of recent news and deals in the private equity industry:
- M&A activity in the Middle East increased in Q1 2014, with the top deal being a $700 million acquisition in Qatar. Foreign investment in the region also significantly increased.
- German fire safety company Minimax is being sold to private equity firms in a potential $1.8 billion deal.
- Large tech companies like Yahoo and Google led the US in M&A deals in 2013, paying high multiples for acquisitions in their pursuit of technology dominance.
- Sovereign wealth funds and family offices have increasingly been investing directly in the European venture capital market in large deals.
- Fundraising
Cento Ventures Southeast Asia Tech Investments 2018Renata George
In 2018, over $11 billion was invested in Southeast Asian tech startups, nearly doubling the amount in 2017. The majority (over 70%) went to just five large companies. While mega-deals dominated, more companies raised Series B rounds in the $5-50M range. Indonesia received over 70% of capital due to large local rounds, but deal count was more evenly distributed. New sectors attracting investment included fintech, real estate, logistics and business automation. Exits continued through M&A and secondary sales rather than IPOs. Early stage deal activity under $500k declined from its 2015 peak.
This issue of Pulse magazine focuses on corporate social responsibility. The main stories include an overview of opportunities in impact sourcing and an interview with Raman Roy, a pioneer in the business process outsourcing industry in India. Other articles explore innovative outsourcing projects that are making a social impact, insurance outsourcing trends, and the outsourcing landscape in Australia and New Zealand. The issue also includes a video message on impact sourcing from the Rockefeller Foundation and profiles of innovative machines from Dean Kamen.
This is First Round's effort to provide an in-depth snapshot of what founders across the entire tech ecosystem think, feel, fear and value. We surveyed over 860 venture-backed founders who volunteered their experience and opinions.
500 FinTech Overview for ICICI Lombard - 2DEC16Mike Sigal
This document summarizes a presentation given by Mike Sigal of 500 Startups to ICICILombard about the Silicon Valley FinTech/InsurTech landscape. It provides an overview of 500 Startups' funds, investments, and accelerator program. Key details include that 500 Startups is the most active early-stage investor in FinTech globally, having invested in over 1700 startups across 50 countries. It also outlines how 500 Startups works with corporate partners and describes some potential areas of collaboration between 500 Startups and ICICILombard, including startup investments.
Do Accelerators And Incubators Serve Themselves Better Than Startups?Faisal Hoque
There are now more support resources for startups than ever. Trouble is, most oversell and under-deliver.
There are literally thousands of startup accelerators, incubators, coworking spaces, innovation hubs, government-funded small business associations, university programs, and more.
So far, many are delivering too great a share of the wins only to themselves, leaving a long road behind them littered with failed startups and sterling intentions.
More at - http://shadoka.com/do-accelerators-and-incubators-serve-themselves-better-than-startups/.
Cathy Light is the founder and CEO of Lideranca Group, a business and workforce acceleration firm comprised of four strategic brands focused on people and culture. Lideranca Group helps clients worldwide exceed their goals by transforming workplace culture. Their DEInamics software platform measures an organization's diversity, equity, and inclusion health to identify gaps and prioritize action plans to create more equitable workplaces. Cathy is a distinguished thought leader focused on helping companies be better through organizational transformation and sustainable growth.
Chinese startup executives surveyed for Silicon Valley Bank's annual Innovation Economy Outlook report seek venture capital funding and have long-term goals of going public through IPOs. However, they face challenges securing funds and finding qualified talent like startups in other countries. While fundraising is difficult globally, Chinese startups particularly struggle with recruiting talent and accessing financing. Cybersecurity is also a major policy concern for Chinese companies.
Originally presented as part of the FinanceConnect:13 Workshops on May 1, 2013, Andy Goldman and Mike Weir present a deep dive into Content Marketing and LinkedIn.
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.
Alternative Sources Of Funding For Creative Technology Businessgcecs2009
The document provides information about alternative sources of funding for creative technology businesses. It summarizes presentations from a panel on the topic, which included representatives from a venture capital firm, an arts organization, and an economic development organization. The panel discussed various sources of early-stage funding like angel investors, venture capital, and government grants. It also reviewed trends in venture capital investments and deals over recent years. The economic development organization representative described their organization's funding programs for seed and early-stage companies in Southeastern Pennsylvania.
The article discusses the advantages and challenges of private equity co-investment for limited partners. While co-investments promise lower fees and more control over portfolio construction, direct co-investments have actually underperformed private equity funds over the past decade. Sourcing good co-investment deals is difficult for most LPs, as the best opportunities are often restricted to large deals syndicated by top-tier GPs. Even for giant LPs, achieving co-investment targets can be a challenge given the resources required to put capital to work through smaller deals. Overall, while attractive in theory, co-investing does not guarantee better returns or control in practice for many investors.
Every year Upfront Ventures surveys our peer group for their sentiment on the fund raising environment, burn rates, areas of technology interest and the year ahead. This report summarizes the views as of January 2017.
- Global VC investment rose slightly to $27.4B in Q2 2016 due to large funding rounds, but deal volume continued declining amid market uncertainties.
- Many investors took a cautious "wait-and-see" approach by holding back from investments and focusing on evaluating existing portfolios.
- Brexit added new uncertainties in Europe while proven companies attracting late-stage funding in North America and Asia.
- Concerns over valuations led to fewer new unicorns and demands for investor protections in late-stage deals.
The Brave 100: The Battle for Supremacy in Small Business LendingFrank Rotman
Banks vs. the Innovators. Who has the advantage and who will dominate the Small Business lending ecosystem?
More fintech blogs and papers at: www.fintechjunkie.com
2014 Tech M&A Monthly - Quarterly ReportCorum Group
The third quarter of 2014 has been marked by soaring deal values, a surge of megadeals and the largest IPO in history. What does this mean to your company? Tune in to the Tech M&A Quarterly review webcast, where we look at the key deals, megadeals, valuations and trends impacting the global M&A market for software and related technology companies. We’ll examine:
The hot gaming market, including Twitch, Mojang, Bally and more
More megadeals, including Concur, Cars.com, Trulia and many others
What does Alibaba’s IPO—the largest tech IPO ever—mean to your company?
Deal reports from India to Seattle
Valuation metrics for all six tech markets and 26 subsectors
And much, much more—don’t miss the Tech M&A Monthly Q3 2014 Report.
The document summarizes findings from an analysis of over 300 investments made by First Round Capital over 10 years. Some of the key findings include:
- Companies with female founders performed 63% better than those with only male founders.
- Founding teams with experience at major tech companies like Google and Facebook saw their companies perform 160% better.
- Teams with more than one founder significantly outperformed solo founders, by 163%.
- Technical co-founders were critical for enterprise companies, which saw 230% better performance, but did not provide as much benefit for consumer companies.
- Companies discovered through unconventional means like Twitter or demo days performed 58% better than referred companies.
The document discusses the rise of the "expert economy", where professional networks connect clients with experts to share expertise in various fields. It outlines the business model of GLG, one of the largest expert networks, which connects investors and clients with over 600,000 experts for phone consultations. Expert networks have grown significantly but also faced challenges during the global financial crisis and crackdowns on insider trading. However, the expert economy continues growing and networks are expanding services like temporary expert staffing assignments. The outlook discusses trends like demand for flexible work and how expert networks could benefit from new financial regulations.
DealMarket DIGEST Issue 140 // 09 May 2014CAR FOR YOU
This document provides a summary of recent news and deals in the private equity industry:
- M&A activity in the Middle East increased in Q1 2014, with the top deal being a $700 million acquisition in Qatar. Foreign investment in the region also significantly increased.
- German fire safety company Minimax is being sold to private equity firms in a potential $1.8 billion deal.
- Large tech companies like Yahoo and Google led the US in M&A deals in 2013, paying high multiples for acquisitions in their pursuit of technology dominance.
- Sovereign wealth funds and family offices have increasingly been investing directly in the European venture capital market in large deals.
- Fundraising
Cento Ventures Southeast Asia Tech Investments 2018Renata George
In 2018, over $11 billion was invested in Southeast Asian tech startups, nearly doubling the amount in 2017. The majority (over 70%) went to just five large companies. While mega-deals dominated, more companies raised Series B rounds in the $5-50M range. Indonesia received over 70% of capital due to large local rounds, but deal count was more evenly distributed. New sectors attracting investment included fintech, real estate, logistics and business automation. Exits continued through M&A and secondary sales rather than IPOs. Early stage deal activity under $500k declined from its 2015 peak.
This issue of Pulse magazine focuses on corporate social responsibility. The main stories include an overview of opportunities in impact sourcing and an interview with Raman Roy, a pioneer in the business process outsourcing industry in India. Other articles explore innovative outsourcing projects that are making a social impact, insurance outsourcing trends, and the outsourcing landscape in Australia and New Zealand. The issue also includes a video message on impact sourcing from the Rockefeller Foundation and profiles of innovative machines from Dean Kamen.
This is First Round's effort to provide an in-depth snapshot of what founders across the entire tech ecosystem think, feel, fear and value. We surveyed over 860 venture-backed founders who volunteered their experience and opinions.
500 FinTech Overview for ICICI Lombard - 2DEC16Mike Sigal
This document summarizes a presentation given by Mike Sigal of 500 Startups to ICICILombard about the Silicon Valley FinTech/InsurTech landscape. It provides an overview of 500 Startups' funds, investments, and accelerator program. Key details include that 500 Startups is the most active early-stage investor in FinTech globally, having invested in over 1700 startups across 50 countries. It also outlines how 500 Startups works with corporate partners and describes some potential areas of collaboration between 500 Startups and ICICILombard, including startup investments.
Do Accelerators And Incubators Serve Themselves Better Than Startups?Faisal Hoque
There are now more support resources for startups than ever. Trouble is, most oversell and under-deliver.
There are literally thousands of startup accelerators, incubators, coworking spaces, innovation hubs, government-funded small business associations, university programs, and more.
So far, many are delivering too great a share of the wins only to themselves, leaving a long road behind them littered with failed startups and sterling intentions.
More at - http://shadoka.com/do-accelerators-and-incubators-serve-themselves-better-than-startups/.
Cathy Light is the founder and CEO of Lideranca Group, a business and workforce acceleration firm comprised of four strategic brands focused on people and culture. Lideranca Group helps clients worldwide exceed their goals by transforming workplace culture. Their DEInamics software platform measures an organization's diversity, equity, and inclusion health to identify gaps and prioritize action plans to create more equitable workplaces. Cathy is a distinguished thought leader focused on helping companies be better through organizational transformation and sustainable growth.
Chinese startup executives surveyed for Silicon Valley Bank's annual Innovation Economy Outlook report seek venture capital funding and have long-term goals of going public through IPOs. However, they face challenges securing funds and finding qualified talent like startups in other countries. While fundraising is difficult globally, Chinese startups particularly struggle with recruiting talent and accessing financing. Cybersecurity is also a major policy concern for Chinese companies.
Originally presented as part of the FinanceConnect:13 Workshops on May 1, 2013, Andy Goldman and Mike Weir present a deep dive into Content Marketing and LinkedIn.
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.
Alternative Sources Of Funding For Creative Technology Businessgcecs2009
The document provides information about alternative sources of funding for creative technology businesses. It summarizes presentations from a panel on the topic, which included representatives from a venture capital firm, an arts organization, and an economic development organization. The panel discussed various sources of early-stage funding like angel investors, venture capital, and government grants. It also reviewed trends in venture capital investments and deals over recent years. The economic development organization representative described their organization's funding programs for seed and early-stage companies in Southeastern Pennsylvania.
The document summarizes a study that ranked over 200 seed accelerators and incubators in the US and Europe based on metrics like the percentage of portfolio companies receiving qualified financing, exits, venture capital perception, stipend values, and equity stakes. The top programs in the US were found to be TechStars Boulder, Y Combinator, and Excelerate Labs based on these metrics. In Europe, SeedCamp was found to be the top program, while StartupBootcamp followed the Techstars model. The study aimed to provide entrepreneurs guidance on accelerator selection and understand the scalability and profitability of the accelerator model.
The New Wave of Scalable Entrepreneurship in South East AsiaExpara
This document discusses scalable entrepreneurship in Southeast Asia. It provides examples of high-growth startups like Facebook, Instagram, Google, and YouTube that achieved high returns for early investors. It also outlines obstacles to scalable entrepreneurship in SEA like risks aversion and cultural views of failure. Additionally, it discusses the importance of entrepreneurial ecosystems in driving innovation and growth.
Introductory presentation on how to start thinking about corporate innovation - presented on 5 April 2019 - using widely sourced materials, including Dave McClure & DMC Hats
Chinaccelerator, in cooperation with Tech Temple and GWC, once again hosted their program-annual 10X10 Beijing on March 8th, 2014.
The Geeks on a Train tour takes the Chinaccelerator startups on a ride from Shanghai to Beijing, then back down to Hangzhou before returning to Shanghai.
As part of the tour, the 10x10 conference brings attendees 10 tech pioneers (in this case we had 12!) and top VC's from the startup ecosystem in China. This is an amazing opportunity for attendees to have a peek at the first startup accelerator program in China, meet interesting people and listen to amazing speakers.
As always, each of them takes attendees on a 10-minute tour of their own startup trials and tribulations, wins and losses, then give some great advice and maybe a secret or two about what they learned to help make them the superstars they are today.
These are their slides, we hope you enjoy them. Thank you for supporting Chinaccelerator and entrepreneurship worldwide.
This document provides an overview of the early stage investment community and its key members, including angel investors, venture capitalists, corporations, and academia. It outlines some problems like a lack of collaboration and information sharing between members. The proposed solution is to build a global online marketplace that facilitates buying and selling between early stage companies and all members of the investment community, improving deal flow and helping source talent and technology on a global scale.
Corporate Innovation 101 - ADNOC 13 May 2019Asher Siddiqui
This document provides an agenda and overview for a corporate innovation seminar hosted by the Applied Innovation Institute. The seminar will cover corporate innovation 101 concepts, an innovation framework, and include a Q&A discussion. The agenda includes an introduction of the speaker, Asher Siddiqui, who has extensive experience in startups, venture capital, and corporate development. The document also provides context on the state of corporate innovation and strategies companies are using such as partnering, investing, and acquiring startups.
Instead of asking "Are you ready to fundraise", perhaps the better question is.. "Are you ready to grow?"
Learn about the basics of fundraising and whether you are ready.
Use the free tools and frameworks
Lean Canvas Plus (aka Fat Canvas) https://bit.ly/jdlfatcanvas
Fingerprint4Success Human Analytics: https://bit.ly/censusf4s
Angel investors provide early stage capital for start-up companies, typically investing between $5,000 to $40,000. They are willing to invest in companies that have not yet been founded. While many start-ups fail, angel investors only need one successful investment to make the overall strategy worthwhile.
Dr Ricardo Schäfer and Sia Houchangnia from the Seedcamp investment team, were invited to give a lecture at the Oxford University Said Business School, as part of its flagship lecture series Building a Business. The lecture was given to 200 students interested in learning more about starting a business and the key principles of how to do so. The topic of this lecture is on How to Raise Capital.
How do I Raise Capital? - Lecture at University of OxfordSia Houchangnia
Dr Ricardo Schäfer and Sia Houchangnia from the Seedcamp investment team, were invited to give a lecture at the Oxford University Saïd Business School, as part of its flagship lecture series Building a Business. The lecture was given to 200 students interested in learning more about starting a business and the key principles of how to do so. The topic of this lecture is on How to Raise Capital.
The lecture was filmed and you can watch the video here:
https://youtu.be/KWjtRikKDLE?list=PLtXf43N26ZiefSYP5o2GmMnN6V_WYkUe3
Notation Capital is a pre-seed venture capital fund based in NYC. In its first year, it invested $1.65 million across 10 companies at an average size of $165k per deal. Notation focuses on being a strong technical partner to exceptional founding teams very early on. It has also begun leveraging AngelList to syndicate deals and increase ownership stakes. Going forward, Notation aims to continue building its founder community and partner network in NYC.
US Investors: From Early Stage to Series ADavid Shen
I gave this presentation in Oct 2014 at the Silicon Valley Innovation Center to a group of visiting Kazakh entrepreneurs. They wanted to know about US based investors and what they look for, and how to get investment from them.
European Startups -- Raising Funding in Silicon ValleyPeter Szymanski
The document discusses raising funds from Silicon Valley investors for Polish startups. It outlines nine key factors that Silicon Valley venture capital firms look for when investing, such as rapid growth, a large potential market, a proven management team, and a strong economic model. It emphasizes that reference checks with past portfolio companies are the best way for Polish entrepreneurs to select investors, and advises setting up a U.S. affiliate to legally accept American funding.
Research about accelerators, main important academic research . Selection, curation of +80 academic papers and reports in business accelerators, VC, CVC, Angel Business, Startups, Serial Entrepreneurs. Insights and conclusions of the main findings. (Draft for a Msc Business Innovation Thesis)
The document announces an AI for Impact Demo Day event being held on May 5th from 10:00am to 12:00pm in room E14, 3rd floor atrium. The event will feature presentations from 14 student teams working on impactful AI projects. A group of expert instructors, venture capitalists, and judges will be attending the demo day event to listen to the student team presentations and provide feedback.
The document discusses a startup bootcamp called Portland Ten that aims to help 10 founders generate $1 million in revenue each by October 2010. It outlines problems in Portland's tech startup scene around a lack of fundable startups and available seed funding. The bootcamp will work with founders over 12 weeks to clarify their concepts, guide them through the commercialization process, and provide resources, networking and mentorship to help them reach their revenue goals. Founders will commit 6-8 hours per week and $500 per month to participate.
Similar to Onetti - Marinucci - MTB Job Creator Tour 2014 (20)
The document provides an agenda and overview of entrepreneurship and startups in Italy. It discusses where Italy currently stands with entrepreneurship, the startup world, business planning, the venture capital market, and Mind the Bridge Foundation. Some key points include that Italy has experienced very low economic growth, high youth unemployment, a lack of large companies, and venture capital investments in Italy being much lower than in places like the US and Silicon Valley. The document also discusses characteristics of entrepreneurs in Italy compared to the US and outlines important aspects of business planning and models using a lean startup approach.
The document outlines the agenda for a tour on entrepreneurship in Italy, discussing key issues and opportunities. It discusses the state of entrepreneurship in Italy, noting a lack of large companies and innovative industries, and a strong focus on family businesses and mature industries. It also summarizes the state of venture finance in Italy, noting a lack of an established venture capital community and small deals. Key issues facing Italy include high business mortality, a lack of managerial skills and obstacles in translating research to business.
As springtime arrives the MtB Italy Tour starts!
Here you can find the slides we use for our presentations all over Italy.
Do not miss the opportunity to get in contact with our speakers and learn from them the key elements to start a new business! Check out all the dates and venues at www.mindthebridge.org
This document provides an overview of Mind the Bridge's Boot Camp 11 event. It discusses Italy's current economic challenges and startup ecosystem. It then outlines Mind the Bridge's initiatives to connect Italian talent with opportunities in Silicon Valley, including its business plan competition, bootcamp training, venture camp pitching event, startup gym incubator, and startup school. The goal is to help build a new generation of Italian entrepreneurs and connect them with mentors and investors internationally.
The key stages of venture capital financing differ based on the stage and needs of the startup company. Early stage typically focuses on developing the initial product or concept, while late stage aims to help companies expand, grow, and transition to public markets.
The document summarizes startups and spinoffs in Italy, providing facts and trends. It discusses Mind the Bridge Foundation's mission to promote an ethical, professional, and internationally-focused Italian entrepreneurial ecosystem. It outlines the foundation's pillars which include discovering Italian talent, selecting business plans, providing training and showcasing startups. Statistics are presented on the profile of Italian entrepreneurs and startups. Key issues facing Italian startups are identified as well as lessons learned about what makes startups successful. Areas for improvement are also discussed.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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Onetti - Marinucci - MTB Job Creator Tour 2014
1. MARCO MARINUCCI
Founder & CEO, Mind the Bridge Foundation
ALBERTO ONETTI
Chairman, Mind the Bridge Foundation
Naples – May 12, 2014
Entrepreneurship 360
@MindTheBridge
#jobcreator
5. The Entrepreneur profile:
Italy vs. US
5
Entrepreneurs 30 to 49 started businesses at a
higher rate than other age groups did
The Kauffman Foundation and LegalZoom
Startup Environment Index 2012 Mind The Bridge Survey 2012
Age distribution
In Italy 84% are in the 26-45 range. 33 is the
average age
1
2 A third of startup owners were women Female entrepreneurs are only 11%
Gender
19% had master’s degrees while 8%
professionals or doctorate
Education
3 42% have a master degree while 11%a Ph.D. or
MBA
Prior Experience
4 57% have 6+yrs of prior
industry/work experience
and 44% had started
companies in the past
Funding & Incubation period
Almost 80% has 8/9 yrs avg.
prior working experience
and 23% has founded at
least one company before
5 80% of early-stage business
owners in US used personal
funds to finance their
companies.
Bootstrapping rules (58%),
while 38% got also funding
by external investors.
More info here: “Startups - Italy vs US - Onetti IID 2013”, A. Onetti, Italian Innovation Day, Mountain View, 2013
7. The Business Plan?
“Business plans and 5 years financial
projections are a waste of time”
7
Dave McClure
“They came to me with no business
plan” Intel 1968
“No one besides venture
capitalists and the late
Soviet Union requires five-
year plans to forecast
complete unknowns”
Steve Blank
8. The Lean Startup Methodology
“The Lean Startup method teaches you
how to drive a startup, how to steer,
when to turn, and when to persevere
and grow a business with maximum
acceleration.”
Eric Ries
Vision Steer Accelerate
TEST the product, collect
FEEDBACK, understand
CUSTOMERS NEEDS
FAIL fast (Pivoting?)
or GROW fast.
MODIFY your MVP, IMPROVE it
SCALE
“Get out of the Building!”
9. Build-Measure-Learn
9
1
3 2
What is the problem we aim at
solving?
MVP: Minimum Viable Product
Metrics, Traction
No plan survives first
contact with customers
Pivoting or scale?
Validated learning
11. Founders’ capital,
Savings, Family,
Friends
Seed Investors,
Crowdfunding,
Angels,
Early stage VC
(Series A)
Venture Debt, Loans,
Working Capital
Lines, Strategic
Partners, Retained
earnings
Later Stage VC
(Series B+),
Corporate VC,
Private placement,
Public markets
The Funding Sources
11
Bootstrapping Equity Financing
Early sources
Later sources
12. Angels: General Investment
Process
Informal
Close to Home
Ancillary
Individual vs Group Investment
Source:
NVCA Yearbook
Center for Venture Research, University of New
Hampshire
John Backus, 2012
12
13. VC: General Investment Process
13
Limited Partners
VC Firm (General Partners)
Startup Companies
IPO/M&A
Fund Fund Fund
Exit
Distributions Fundraising Commitments
Investment DisbursementsProceeds
14. Valuation is a two side process
Size of market opportunity
how big is the market segment, what market share can you
gain?
Comparables
Multiple of Revenue (trailing/forward) or EBITDA
Terms
Liquidation Preferences/Management Carve-out/Cash vs
Paper/Earn-out/Lock-up
Time
Better «quick and dirty» than never
Ultimately
Bid vs. Ask negotiation
14
15. VC Average Investment Portfolio
DEFAULTS
BREAKEVEN
“FIRE SALES”
ZOMBIES
IPO/M&A
GOOD IPO/M&A
WILD ONES (IPO)
TOTAL
60%
12%
10%
8%
6%
4%
0%
100%
Source: ATV
28. What’s shaking?
1. The lean startup movement
Lean Startups do not require a lot of cash
The startup no longer needs $5M before
launching
28
LEAN is everywhere
29. 2. The rise of
accelerators and
incubators
Plenty of
“Archimedes labs”
all over the world
Typically under
$20,000 money
offered
29
What’s shaking?
30. Source:
Duncan Davidson (Bullpen Capital) cited in No.1 -
The Startup Valley of Death - December 2013
30
3. Accelerators’
Bubble?
Seed capital and
growth capital is
available
Only 27% are
funded after 1 year
What’s shaking?
31. 4. The retreat of VCs to
later stage (Series A
Crunch)
Why not wait to see who
did well and selectively
invest only in the winners?
Most VCs abandoned early
stage investing
+90% of startups and 73% of
incubated startups end up
in the Valley of Death
31
What’s shaking?
32. Angel vs Venture Capital Investments
There is a lot of angel
money ($20B), indeed:
3X the money that goes
in to Early-Stage Venture
($7.4B)
1.5X the money that
goes in to late stage
venture
Source:
NVCA Yearbook
Center for Venture Research, University of New Hampshire
John Backus, 2012
32
33. 5.Angel Bubble?
Only 2.5% of angel-
funded companies will
ever raise venture capital.
What happens to the rest?
Acqui-hiring= nice exits
Source:
NVCA Yearbook
Center for Venture Research,
University of New Hampshire
John Backus, 2012
33
“We are in an angel bubble that will keep inflating
when Crowdfunding meets Main Street in 2013.
The bubble will burst. Not tomorrow. But soon”
(John Backus, NAV)
What’s shaking?
34. 6. The Series B Trap
Source: No.1 - The Startup Valley
of Death - December 2013
34
Pile of cash for
companies that
get the elusive “traction”
Raising tens or even
hundreds of millions of
dollars without massive
dilution
What’s shaking?
35. 6. (Equity) Crowdfunding
Disintermediation
Transparency
Lowering the bar: We are all
investors
Syndicates= VC like $$
35
What’s shaking?
36. 7. Acqui-Hires fuel the Market
36
What’s shaking?
Top 10 Acquirers In Silicon Valley
1 Cisco 160
2 Google 143
3 Microsoft 132
4 IBM 117
5 Yahoo! 107
6 Rent My Vacation Home USA 96
7 Hewlett-Packard 86
8 Oracle Corporation 84
9 AOL 62
10 EMC 58
Font: Crunchbase April 2014
38. In total, the startups acquired raised $73M in
funding across 42 transactions prior to being
acquired by Twitter.
Of the acquired startups that raised funding, only 6
ever reached the Series B stage.
9 startups were acquired by Twitter after receiving
just seed or angel funding.
On average, Twitter startups with funding raised 2.4
rounds prior to acquisition.
The average time between first funding and
acquisition was 2.1 years.
18/31 acquisitions have come since 2012
highlighting the company’s accelerated pace of
acquisition.
Twitter Acquisition Strategy
38
39. 58% of Twitter’s
acquired firms were
based in California.
10% of acquisitions
each were for New
York or Massachusetts-
based companies.
Twitter Acquisitions: Locations
39
41. VIDEO: WHY FB BUYS STARTUPS
http://www.youtube.com/watch?v=OlBDyItD0Ak
”My company acquires other, smaller startups to hire great people.
The fact that so many of the people who are leading products
within Facebook are coming from a
startup just creates an incredibly
entrepreneurial environment at scale.”
Mark Zuckerberg, CEO Facebook
“We think about either acquiring
talent or actually looking at
technologies that we can bring
in and build products on.”
“We don’t usually acquire products.”
Christian Hernandez, Facebook’s head of
international business development
Facebook Acquisition Strategy
41
42. Before getting acquired, Glancee had only been
downloaded 30k times and 20k users using it in the
background on their iPhone
Instagram had 35 million users and was growing fast.
INSTAGRAM vs GLANCEE
Facebook -> Glancee
42
Deal Glancee was last acquisition
before IPO (after Instagram), mainly
undisclosed terms
Acquihired: Talent & Technology acquisition
43. Facebook -> WhatsApp
43
Regarding the size it is equal to 25 Instagram ones
WHATSAPP vs INSTAGRAM
Instagram had 13 employees before the deal.
WhatsApp and its 55 employees were gaining
one million new users every day.
Deal WhatsApp will operate
independently retaining its brand, $3B
stock options for founders and
empoyees if they work at least 4years
@ Facebook
44. 1. Let’s build Entrepreneural Ecosystems thinking at
long term economical impact
2. Startups cannot prosper in a vacuum: smart
money + exit strategies needed + link to large
corporates
3. Education is key at startup/investor/corporate
levels
.
Conclusions
44
45. THANK YOU FOR YOUR
ATTENTION
Questions & Answers
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