TIGA Guide to Investment For London Game Start-ups

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Guide for Game Start-ups in London on how and where to get funding and investment.

Transcript of TIGA Guide to Investment For London Game Start-ups

  • Accelerating and Financing Londons Game Sector Start-ups. . John Spindler CEO of Capital Enterprise @capenterprise 1
  • 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. @capenterprise 2
  • Investable start-ups aredifferent Ambitious: want to be worth 20M+ minimum in 3 years. Game Changing Build/leverage new technology/ business model innovations Acquire and leverage as many Unfair Advantages as possible- team, key partners, resources etc Move very FAST @capenterprise 3
  • To get investment need to change Business Models From Gun for Hire needs to become... ..To Products built at own risk ... @capenterprise 4
  • Games vs Gamification @capenterprise 5
  • Tech Start- Up Funding Road map. Hackathons/ Hatcheries/ Meet-ups. Idea Bootstrap- FFF Finance Problem/ Space Exploration MVP Factories Start-up Loans Design/ Prototype Accelerators (Early) SEIS - Business Angels Super Angels/ Angel Groups Innovation Awards Crowdfunding i.e. Kickstarter Beta Test Adapt/ PivotX2 Seedrs/ Crowdcube/F6s Accelerators (Late) Launch Early Stage VCs @capenterprise 6
  • 4 3 1 Idea Stage 2 Commitment Stage- Secure Co-Founders FFF funding round Build & Beta Test Minimum Viable Product Seed Investment Round (Angels + Early VCs) - Prove Business model & acquire metrics to prove scalability 5 Series A Round (Angels, VCs & Strategic Investors) Go for scale, build out team, technologyEXECUTE 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 @capenterprise 7
  • An Investable Start-up Needs.. Team, Tech & resources that is FIT for the task of creating an awesome company Smart Ass Team Product that is the best solution FIT for the target customers problems. Disrupting a Big Ass Market with a Kick Ass Product ( Jeff Clavier 3 Ass-es rule) Business Model that is FIT to be scaled. + Capital Efficient to Scale. @capenterprise 8
  • How! Advance in Stages ..using the Lean Start-up Method @capenterprise 9
  • Building a Smart Ass Team Hipster (Designer) Hacker (Developer) Hustler (Distributor) @capenterprise 10
  • Building a Kick Ass Product Change behaviour.... ...create a habit... @capenterprise 11
  • Building a Kick Ass Product Good Product design.. makes the Funnel Conversion Metrics work. @capenterprise 12
  • Minimum Viable Product (MVP): Problem Solution FIT @capenterprise
  • Sources of Start-up Help for Tech Entrepreneurs Information: 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.com 3 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/ @capenterprise 14
  • Idea to Tech Business- Three Chasms.
  • Proof of Concept? 1. Does it work? 2. Does anyone care? @capenterprise 16
  • Funding Games Development & Beta Testing Grants & Awards General Technology Strategy Board ( R&D Funding) - http://www.innovateuk.org http://www.innovateuk.org/content/competition/grant-for-rd-single-business.ashx Knowledge 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.do EU 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-costmy-business J4B- Portal for grant finding http://www.j4b.co.uk Game Competitions http://www.daretobedigital.com/ http://www.glasgow2014.com/press-releases/digital-game-competition @capenterprise 17
  • EU Grant to Develop Video Games Grant 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 33 countries participating in the MEDIA Sub-programme and 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 works a 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/producersupport/development-video-games/#tab-3 @capenterprise 18
  • EU Grants for building IT prototypes. EU Grants for building IT prototypes. Call for Proposals: 01/03/2014 Support 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 50 000 EUR and the typical duration should be 6 months. Objectives of the ODI scheme Nurture promising innovative and disruptive ideas Support prototyping, validation, and demonstration in real world conditions Help with commercialisation and market uptake Deadlines for application First 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 call Access to the call is available through the Participant Portal on the Horizon 2020 website @capenterprise 19
  • Need less than 20K to get to Build and test MVP? Grantwww.j4b.co.uk No Funds Unemployed? Need Less than 10K to Launch a business New Enterprise Allowance Scheme Self Fund Borrow Write a simple Business Plan & 12 month cashflow Community Development Finance Institution Start-Up Loan Bank 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 wh