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  1. 1. Life After Investments • June 2, 14:00 – 15:00, Lab Stage • Format: –10 minutes Will Cardwell, A Few Basics –10 minutes Riitta Lumme-Tuomala, –40 minutes with Felix Shpilman –Wrapup June 6, 2014 1
  2. 2. Will Cardwell Senior Advisor, Entrepreneurship and Venturing Aalto University Executive Education • Will Cardwell (51) is currently senior lecturer on venture capital and entrepreneurship at Aalto University Executive Education, and Aalto School of Science (as co-founder of the Aalto Ventures Program). Aalto University is Finland’s “Innovation University”, whose 20,000+ students span the fields of engineering, arts and design, and business. He serves as a mentor in several accelerators, and is an angel investor in several startup companies as a member of the Finnish Business Angels Network (FIBAN). • He previously co-founded the Aalto Center for Entrepreneurship, and the $21m AppCampus Mobile App Accelerator. • Previously, he ran Finland's largest Technology Incubator, with over 200 customers large and small around Finland as well as St, Petersburg and Estonia. I have spent 15 years in the Finnish high- tech environment, as CEO of a startup (Valimo Wireless, sold to Gemalto in 2010, 3 years) venture capitalist (Eqvitec Partners, Conor Venture Partners, 7 years), investment banker (Robertson Stephens, 2 years), and researcher and lecturer (Aalto School of Economics, and Aalto University of Technology, 3 years).June 6, 2014 © Aalto University Executive Education
  3. 3. It is often a massive task for a startup to raise equity funding. Many times, it seems like the journey is over when the money finally hits the bank account. But in reality, the real work is only beginning. This session will examine the key areas to watch in order to keep the founders, board and investors aligned, and keep the company INCREASING IN VALUE! June 6, 2014 © Aalto University Executive Education 3
  4. 4. The First 100 Days • Make sure that the table is clean - no big negative surprises, leave some positive surprises for after investment. • Implement any improvements to the board composition quickly, and consider using a “lean board approach” • Re-energize the team, do not let the sense of urgency die just because there is money in the bank. Address incentives and other personnel issues immediately, and get rid of weak team members quickly! June 6, 2014 © Aalto University Executive Education 4
  5. 5. Riitta Lumme-Tuomala Director, Russia and Talent Management at Aalto University Executive Education M.Sc.(Econ.), EMBA, DBA Candidate Riitta’s key qualifications are in the areas of Leadership, especially from the point of view of different generations at the same workplace, young potential development, social media issues and individual diversity (MBTI Step I and Step II Certification in 2009). She is lecturing frequently on the aforementioned topics. Riitta has several years of experience of facilitation and lecturing, and has gone through various training courses for trainers, this includes both general trainer and facilitation skills and specific module trainer skills. From 2009 to 2012 Riitta worked as a private entrepreneur cooperating with several clients with strong connections to Aalto EE. Presently she is heading the Russian Business area cooperating with top Russian Business Schools and working with High Potential and Talent Management concepts. June 6, 2014 © Aalto University Executive Education
  6. 6. Life after investment – The Team Riitta Lumme-Tuomala Director, Russia and Talent Management AaltoEE Skolkovo 2.6.2014
  7. 7. The Team – The individuals June 6, 2014 © Aalto University Executive Education 7
  8. 8. The Team – The VC A good idea is critical - but it's only a small fraction of a company's success as compared to its founders, says investor Ron Conway. June 6, 2014 © Aalto University Executive Education 8
  9. 9. Team Spirit? ' <# Traditional view teams must have clear goals and roles, a lot of team spirit and motivation, focused agendas and rules for decision making BUT What is an X-Team? Principle 1- X-teams engage in high levels of external activity X-Team Task Coordination New Knowledge
  10. 10. The Team – The tasks June 6, 2014 © Aalto University Executive Education 10 Reason Play Instincts/Intuition Results Organized Implementation Exceptional Sales Creative Thinking Value Driven
  11. 11. The Team – The Future June 6, 2014 © Aalto University Executive Education 11
  12. 12. The Team – The Curious ones June 6, 2014 © Aalto University Executive Education 12
  13. 13. June 6, 2014 13 VP Strategy, Partner, Start Fund Former at Digital Sky A Conversation with Felix Shpilman
  14. 14. Questions for Felix Shpilman • Q1. You have been on both sides of the table, what are the most positive and negative issues you have seen immediately following investment rounds? – After seed rounds? – After A rounds? – After later stage rounds? • Q2. Are there unique issues related to Russian startups relative to US startups? • Q3. Are there unique issues related to first time entrepreneurs compared to serial entrepreneurs ? • Q4. What advice do you have for the entrepreneurs after they get an investment round? June 6, 2014 14