CHANGE THE CHIP AND CARRY ON

@inma_martinez April 2013Inmaculada Martinez, UKTI Catalyst Ambassador

17.04.2013

#lovamosaganar#nofearonlylove#entreprenation

Bootstrap / FFF

Startup Loans

Crowdfunding

<50k Angel Rounds

Angel SyndicatesEarly Stage Funds

Hackathons / Hatcheries / Meet-ups

MVP Factories

Innovation Awards

Accelerators

If you can’t find the word “VC” above it’s because there is no room for them yet in the

early ecosystem@inma_martinez April

2013

THE STARTUP FUNDING ROADMAP:A CAREFULLY IDENTIFIABLE PATH

“LET’S START AT THE BEGINNING,AT A VERY GOOD PLACE TO START”

Sound of Music, ABC

@inma_martinez April 2013

FORMING AND EXPLORING IDEAS


PROTOTYPING IS *THE MOST IMPORTANT * THING


DEVELOPING THE TEAM

Hipsters Hackers Hustlers


SOURCES OF HELP FOR BUDDING ENTREPRENEURS IN U.K.


SOURCES OF PRODUCT DEVELOPMENT FUNDING IN THE U.K.


NEW FUNDING FOR PROTOTYPING? TRY CROWDFUNDING


METAL TO THE PEDAL: ACCELERATING YOUR

PROJECT


ACCELERATORS: BEWARE OF THE BONANZA


ACCELERATORS: what’s on offer

Fellow community of entrepreneurs & supporters

Runway support & funding(15k-100k at standarised investment terms)

(3-6 months on average)

Physical space & facilities

Mentors (1st Industry)

(2nd Investors)

Help to Rapid Field Trail (RFT) with users & customers

Demo Days are intros to investors / customers


ACCELERATORS: what’S tested in this growth stage

PRODUCTAssess functional useImprove design & UX

MARKET REACTIONInterest / Usage / Revenue / AARRR

REVENUE / PROFIT POTENTIALPricing / Market Timing / LTV / CCA

BUSINESS MODEL “To Pivot or Not To Pivot”

INVESTOR REACTIONInterest and Valuations

TEAMAbility to work together and deliver


AquisitionActivationRetentionReferralRevenue

LifeTimeValue

CustomerCare

Accelerators

ACCELERATORS’ CHECKLIST: what kind of startups they select

PRODUCT solves a problem for a SPECIFIC customer

CAPITAL-EFFICIENT business - operational@ <$1M funding

Primarily INTERNET-based distributionSearch / Social / Mobile / Local

SIMPLE revenue models Transactions / Subscriptions / Affiliate

FUNCTIONAL Prototype before investmentor previous success as team / founder

Small but MEASURABLE usageSome customers / Early revenue

Small but CROSS-FUNCTIONAL teamEngineer / Design / UX / Marketing


Hurrah! You’ve been selected! HOW TO CREATE THE RIGHT MILESTONES

HUMAN RESOURCES

PRODUCT

MARKET

FUNDING

Hire KEY people that make HUGE impact

on organisation - ie. not just ‘workload’ people but ‘shit-hot’ marketing

person

Great Social Capital - team works together seamlessly and

successfully

MVPBeta

1st Pivot

You can really build something -

ie. Working Prototype

Market Validation ie first customers

1st paying customers

Proof that you can TALK to investors

Proof that you can SELL to investors

Proof that you can talk to AUDIENCES -

100k users1M users10M users

Proof that ECOSYSTEM agrees with your ideas -ie. bring on respected

industry advisors / partners on board

Proof that THERE IS A MARKET -

$1M p.a.$25M p.a.and beyond

Proof that you can MANAGE YOUR

FINANCES - a cash-flow + operation

Start Phase Middle Phase Exit Phase

Full LaunchOngoing iterations


RAISING FUNDING WITH EARLY STAGE / SEED INVESTORS

Skilled and credible management team

BIG market opportunityBIG problem solved for a potential

BIG set of customers

Idea/Prototype proven and market validated

Zero Technical Risk

Evidence that Business Model is repeatable and scalable

Ready to execute Business Model

Metricshttp://blog.kissmetrics.com/9-metrics/

http://guidetostartupmetrics.eventbrite.com/#

Adecuate Financial Returns - 10x in 3 years?

A CLEAR exit route - how will they claim their reward?


http://blog.kissmetrics.com/9-metrics/



EARLY STAGE VCs / SUPER ANGELS in EUROPE (U.K. HQs)


SPECIALIST FUNDS (U.K. HQs)


BREATHE IN,

BREATHE OUT.

DO YOU HAVE WHAT IT TAKES?

#1 Work To Build A Better World.Build products that people LOVE.

Build shareholder value that rewards you, your partners and your investors.

@inma_martinez June 2013

#2 Show Greatness and Mentors Will Come To You.

Don’t ask to be mentored.Make them “Want to mentor you”


#3 Work HARD but STRATEGICALLY.Develop your Personal Brand, your Industry Brand, your

Leadership.


#4 Don’t Follow “False Gods”: You won’t be the next Zuckerberg.

You will be the next ‘You’


#5 Create Good Industry Karma.Your Good Will and Reputation are your currency in the #entreprenation.

Behave like a right idiot at your peril.


ABOVE ALL: Get a crash-helmet: it’s gonna be a bumpy road, but the beach awaits at the end of the

roadContinue your education and self-improvement.

Get in the best physical shape: run, meditate, eat well.Go conquer the world assured that you are fulfilling your chosen destiny.


http://www.slideshare.net/inmamartinez/presentations

#lovamosaganar#nofearonlylove#nfol

#entreprenation

CHANGE THE CHIP AND CARRY ON

Business

Transcript of CHANGE THE CHIP AND CARRY ON