State of the Startup Community Address 2K16
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http://gph.is/1P88H6d S t a t e o f t h e S t a r t u p C o m m u n i t y A d d r e s s EST. 14 NFK-VB
Transcript of State of the Startup Community Address 2K16
http://gph.is/1P88H6d
S t a
t e o f t h e S t a r t u p
Co
mm u n i t y A d d r e s sEST. 14
NFK-VB
#HustleCity#SSCA2K16
VIRGINIA
SBDCH A M P T O N R O A D S
Last Year...
Last Year...
Last Year...
Last Year...
Last Year...
Facebook rankings:
Crossfit • High intensity interval training
• Started in 2000
• 13 gyms in 2005
• >10,000 in 2016
• 41 local gyms
• Net Worth of 4 Billion
• Millions of users
The Crossfit Games• World-renowned as a grueling test for the world's toughest athletes
• Started in 2007
• Reebok Partnership
• 275K competitors
• 2015 Champion: Ben Smith
RUFIT• Fitness event hosted at Virginia Beach Oceanfront
• A platform that promotes strong, healthy, living through activity, education and community.
HILLIER IGNITEOUTDOOR GYM
HILLIER IGNITEOUTDOOR GYMHILLIER IGNITE
OUTDOOR GYM
“Uber for shipping containers”
Order fulfillment customized for simplicity.
• 2015 Award for Best Landscaping
Busch Gardens
• Apollo’s Chariot wins #6 best roller coaster in the world.
Busch Gardens
VB Arena
EntrepreneurialCenters
3DXtremesAron Blade Taylor
FUNDING
Angel InvestingAn affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity.
A small number of angel investors invest online through equity crowd-funding or organize themselves into angel groups to share research and pool their investment capital, as well as to provide advice to their portfolio companies.
FUNDING
A group of accredited businesses and individuals that invest in companies in the Hampton Roads area.
757 Angels
FUNDING
Fastest Growing Group
FUNDING
Launch
12
24
36
48
60
72
84
96
108
120
Cycle #1 Cycle #2 Cycle #3
757Angels
NationalAverage
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757 Angels
FUNDING
757 Angels
FUNDING
400
800
1200
1600
2000
2400
2800
3200
3600
$3MM
757 Angels NationalAverage
Direct Investment:$1.9MM
Indirect Investment:$1.1MM
$1.2MM
VENTUREFUNDING
• Created in ODU dorm room
• Friends looking to start a niche social network
• Found access to capital in Denver
• April 9th, 2015: IPO
• Currently valued between 48 & 75 Million
MassRoots
VENTUREFUNDING
• Raised money from leading angel inves-tors in Silicon Valley, including CTO of FB/founder of Quora, creator of gmail, and president of Y Combinator
• Has grown 20% month over month since launch in June 2013
• Now the largest mental health delivery system in the world with 120k listeners, across 189 countries, providing support in 140 languages
7 Cups of Tea
VENTUREFUNDING
• Leesa is a single, beautifully designed luxury mattress that's ordered exclusively online and delivered straight to your door
• Raised $9MM
• Officially launched on January 15th 2015
• Ended the year at just under $30m in sales
• Created over 30 tech/digital commerce jobs in Virginia Beach
Leesa
VENTUREFUNDING
The practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.
Crowdfunding
VENTUREFUNDING
• We looked at the major online crowdfunding platforms
• Selected the projects from the area over the past 3 years that made at least $9K
Crowdfunding
VENTUREFUNDING
$9,494RAISED
$13,376RAISED
$21,795RAISED
$25,484RAISED
$59,296RAISED
RAISED$35,680
$12,506RAISED
$20,803
$10,235RAISED
$9,270
$19,587RAISED
RAISED RAISED RAISED$80,369
$21,056RAISED
$23,335
$15,755RAISED
$46,253
$12,058RAISED
RAISED RAISEDRAISED$18,915
$45,460RAISED
$16,134
RAISED$15,114
RAISED
RAISED RAISED
$114,982
$22,176RAISED
$43,682
RAISED$17,175
RAISED$83,776
$18,588 $35,069
RAISED
RAISEDRAISED RAISED
$28,765
$15,436
$56,102
RAISED$52,118
$32,911
RAISED
RAISEDRAISED RAISED
$10,240
$67,819
RAISED$35,525
$43,863RAISED
Tidewater Comicon
• Founder Mike Federali who sold his entire comic book collection at garage sales, flea markets to make the show possible
• Moved to a 37,000 sq. ft. space at the Virginia Beach Convention Center
• The 2015 show broke it’s previous attendance record with over 16,000 excited fans and families.
RAISED$18,760
• The first microbrewery in Chesapeake, Va.
• Jim Lantry is the head brewer who began in 2000 and has produced award winning pale ales and Russian Imperial Stouts
• Big Ugly is named after the company president’s 1955 Chevy panel truck seen in our logo.
Big Ugly Brewing
Industry Trends
• Necessary to bootstrap, West Coast companies are not as big here
• Funding is NOT the most important thing for a small business to succeed
• It’s creativity, drive, and hard work
• The finances will happen naturally
Funding
FUNDING
Kauffman IndexThe Kauffman Index: Startup Activity has three components:
• Rate of New Entrepreneurs: an early and broad measure of business ownership
• Opportunity Share of New Entrepreneurs: a proxy indicator of the percent of new entrepreneurs starting businesses because they saw market opportunities
• Startup Density: the number of startup firms divided by total population of a place
Kauffman Index
Kauffman Index
Kauffman Index
Four categories:
1. Meetups
2. Events/Conferences
3. Pitch Events
4. Spaces
Meetup Scene
Meetups
P.I.T.
Open Build Night
Events/Conferences
Programs
• Provide entrepreneurs, startups and small businesses with the amenities, counseling, and services necessaryto grow a successful business
Pitch Events
Resources
OFFICE SPACE
OFFICE SPACE
For new businesses:
Businesses are selected to create vibrant and compatible businesses in Downtown
Access to spaces at 50% market rent for two years
These business owners will also receive a $20,000 kick-start grant.
OFFICE SPACE
Vibrant Spaces
For existing businesses:
May also submit ideas for funding to make their businesses more exciting and vibrant.
$60,000 in matching grants available
Ideas can range from sidewalk activa-tion, upgrades to storefronts, improving signage, or adding outdoor seating or a rooftop option
OFFICE SPACE
Vibrant Spaces
OFFICE SPACE
Vibrant Spaces
Craft Alcohol
Arts
Makerspace
Maker Movement
Local Breweries
Local Wineries & Distilleries
Alcohol-related New Business
Arts Districts
Arts & Crafts
Makers
Music News
Hampton RoadsBusiness Weekly
Big Names to the Area
Start the SparkEmerging Global Entrepreneurs
White House Conference
• Virginia Velocity is for the next stage; for entrepreneurs looking for a boost to their companies and a new level of growth.
• 1 Million invested every year to 2 categories of busiesses: - Bioscience - Energy
1st place Nationwide for Bioscience:
• World’s leading eCommerce platform
• $10 Billion in revenue to date
• >162K merchants in 150+ countries
• Holds a “Build a Business” competition every year to the NEW startup with the best 2 months of sales
• Wins an extensive prize package of mentorship and exposure
So. that’s why...
Last Year
#23This Year
#19
Closing Thoughts
Innovate, not recreate
Companies Innovating In Their Industiries
S t a
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