TIGA Guide to Investment For London Game Start-ups

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Accelerating and Financing Londons Game Sector Start-ups.. John Spindler CEO of Capital Enterprise1@capenterprise

A start-up is not a Game!

A start-up is an organisation in search of a repeatable and scalable business model Eric Ries- Author of the Lean Start-up.


Investable start-ups aredifferent

Ambitious: want to be worth 20M+ minimum in 3 years.Game ChangingBuild/leverage new technology/ business model innovationsAcquire and leverage as many Unfair Advantages as possible- team, key partners, resources etcMove very FAST


To get investment need to change Business ModelsFrom Gun for Hire needs to become...

..To Products built at own risk ...@capenterprise4

Games vs Gamification@capenterprise5

@capenterprise6Bootstrap- FFF FinanceInnovation AwardsStart-up LoansCrowdfunding i.e. KickstarterSeedrs/ Crowdcube/F6sSEIS - Business Angels Super Angels/ Angel GroupsEarly Stage VCsTech Start- Up Funding Road map. MVP FactoriesHackathons/ Hatcheries/ Meet-ups.Accelerators (Early)Accelerators (Late)


1Idea Stage2 Commitment Stage- Secure Co-Founders3FFF funding round Build & Beta Test Minimum Viable Product4Seed Investment Round (Angels + Early VCs)- Prove Business model & acquire metrics to prove scalability5 Series A Round (Angels, VCs & Strategic Investors) Go for scale, build out team, technology- EXECUTE 6 Exit (Average 7 years and after many rounds) Trade Sale or IPO

How Start-Up Funding Works ?- Why 100% of Nothing is worth Less than 10% of something big

An Investable Start-up Needs..

Team, Tech & resources that is FIT for the task of creating an awesome company

Product that is the best solution FIT for the target customers problems.

Business Model that is FIT to be scaled.

Smart Ass Team

with a Kick Ass Product

Disrupting a Big Ass Market

( Jeff Clavier 3 Ass-es rule)

+ Capital Efficient to Scale.


How!Advance in Stages..using the Lean Start-up Method@capenterprise9

Building a Smart Ass Team

Hipster (Designer)

Hacker (Developer)

Hustler (Distributor)


Building a Kick Ass ProductChange behaviour....

...create a habit...


Building a Kick Ass ProductGood Product design..makes the Funnel Conversion Metrics work. @capenterprise12

Minimum Viable Product (MVP): Problem Solution FIT@capenterprise

Sources of Start-up Help for Tech EntrepreneursInformation:

Capital Enterprise; www.capitalenterprise.org Meet-up - http://www.meetup.com Mobile Academy- http://themobileacademy.org.uk/ Makers Academy- http://www.makersacademy.com/ GoGowo- http://www.gocowo.com Skills Matter- http://skillsmatter.com/ Start- up Britain - http://www.startupbritain.org British Library- www.bl.uk/bipc Google Campus- http://www.campuslondon.com General Assembly- https://generalassemb.ly/locations/london Innovation Warehouse- http://www.theiw.org IC Tomorrow - https://connect.innovateuk.org/web/ictomorrow UCL Decide- https://www.ucl.ac.uk/decide Start-up Weekend- London- http://london.startupweekend.org/ Launch 48- http://launch48.com/ Mobile Collective http://mobilecollective.wordpress.com3 Beards- http://www.3-beards.com/ Tech Hub- http://www.techhub.com/events/ Dreamstake- http://www.dreamstake.net/events Capital List Get Together- http://www.capitallistblog.co/our-monthly-monday-get-together/


Idea to Tech Business- Three Chasms.

Proof of Concept?1. Does it work?

2. Does anyone care?


Funding Games Development & Beta TestingGrants & Awards GeneralTechnology Strategy Board ( R&D Funding) - http://www.innovateuk.org - http://www.innovateuk.org/content/competition/grant-for-rd-single-business.ashxKnowledge Transfer Networks- www.innovateuk.org Abertay Prototype Fund - http://prototypefund.abertay.ac.uk/ Skillset - http://www.creativeskillset.org/games/ IC Tomorrow- https://connect.innovateuk.org/web/ictomorrow NESTA- http://www.nesta.org.uk/ London European Enterprise Network- http://www.een-london.co.uk E Funding for SME R&D - http://www.eurostars-eureka.eu/what.doEU Funding for R&D collaborations: http://ec.europa.eu/research/participants/portal/page/calls Knowledge Transfer Partnerships funding support- http://www.ktponline.org.uk/ktp-what-will-it-cost-my-business J4B- Portal for grant finding http://www.j4b.co.uk

Game Competitionshttp://www.daretobedigital.com/http://www.glasgow2014.com/press-releases/digital-game-competition


EU Grant to Develop Video GamesGrant to Develop Video Games

This brand new scheme aims to help independent, European companies to develop either a video game concept or project that has the potential to circulate within the European Union and beyond.What's available?The total budget for the scheme in 2014 is estimated at 2.5 million. The non-repayable grants available depend on the type of support required for your project:Between 10,000 - 50,000 for concept development (up to a playable demo)Between 10,000 - 150,000 for project development (up to a playable prototype usually an alpha or beta version of the game)The grant requested cannot exceed 50% of your total development budget. Support for concept development and project development cannot be combined for the same video game.Who can apply?Applicant companies must:Be established in one of the 33countries participating in the MEDIA Sub-programmeand be majority owned by nationals from those countries.Own the majority of the rights to the project for which support is being sought.Have produced a previous commercial video game that has been published since 1 January 2011.Which projects are eligible?Digital video games for any platform that are intended for commercial exploitation. The scheme aims to support projects with:substantial interactivity and a narrative component (i.e. the ability to tell a story)a high level of originality, innovation and creative value, which promote cultural diversity and enhance Europe's cultural identity and heritage compared to existing mainstream worksa high level of commercial ambition and extensive cross-border potential able to reach European and international markets.Deadline is 28th March and information on how to apply can be found at http://www.mediadeskuk.eu/funding/media-sub-programme/producer-support/development-video-games/#tab-3


EU Grants for building IT prototypes.

EU Grants for building IT prototypes.

Call for Proposals:01/03/2014Support is available for a large number of early stage high risk SMEs in the ICT sector that has the ability to produce innovative products or services that will disrupt, change, or even replace existing markets.Implemented through the SME instrument, the Open Disruptive Innovation (ODI) Scheme provides support for small businesses that are proposing innovative ICT products or services that apply a new set of rules and have the potential to disrupt existing markets.The SME Instrument works in three separate but complementary phases. This call refers to the deadlines for Phase 1, which covers the assessment of technical feasibility and market potential of new ideas. The project will be supported through a lump sum of 50000 EUR and the typical duration should be 6 months.Objectives of the ODI schemeNurture promising innovative and disruptive ideasSupport prototyping, validation, and demonstration in real world conditionsHelp with commercialisation and market uptakeDeadlines for applicationFirst round: 18/06/2014 at 17:00pm (CET)Second round: 24/09/14 at 17:00pm (CET)Third round: 17/12/14 at 17:00pm (CET)Access to the callAccess to the call is available through theParticipant Portalon the Horizon 2020 website


@capenterpriseNeed less than 20K to get to Build and test MVP?

Sources of Grants- www.j4b.co.uk Competition funding 1000 issued to 10+ businesses per month- http://www.shell-livewire.org Princes Trust http://www.princes-trust.org.uk/need_help/enterprise_programme.aspx 1000- 20,000 Enterprise Loans for Under 25s- www.startuploanslondon.co.uk or www.startuploans.com New Enterprise Allowance Scheme Check who delivers the scheme in London by e-mailing Capital Enterprise.Community Development Finance Associations- http://www.cdfa.org.uk - Also check out North London Community Finance ELSBC Access to Finance Business Plan support for those looking to raise up to 10KSoft loans for Creative Businesses- http://www.creativeindustryfinance.org.uk/


Crowdfunding (Reward)Crowd funding Platforms- Reward based Crowdfunding platforms- will help you to raise funding to build a proto-type and market test a great idea or product.- Great for pre-selling cool tech hardware. www.kickstarter.com www.indiegogo.com (USA)www.peoplefund.itwww.sponsume.com https://www.buzzbnk.org www.pleasefund.us www.wefund.com www.pozible.com www.crowdfunder.co.uk http://spacehive.com https://www.banktothefuture.com


Idea to Tech Business- Three Chasms.

Capitals Accelerator Programme Partners and Co-Investors in LondonPre-Acceleration Support/ IncubationAcceleration SupportConnections to Investors

Accelerators help by ..Offering early Stage EntrepreneursFellow Community of entrepreneurs & supporters Runway support & funding (15-100K at standardised investment terms. ) ( 3-6 months on average)Physical Space & FacilitiesMentors ( 1st Industry- 2nd Investors)Help to Rapid Field Trail with users & customers.Demo days- Introductions to Investors/ customersso t