Entrepreneurial Traits and Success. What OSTF is Looking For. Dr. Bernd Geiger. Brussels September 22, 2010

Transcription

1 Entrepreneurial Traits and Success What OSTF is Looking For Dr. Bernd Geiger Brussels September 22, 2010 Copyright Triangle Venture Capital Group Management GmbH, July 2010

2 Myth 1: VC = Subsidies = Philanthropy Reality is: Only the strongest survive 4 to 10 years constant uphill battle Cash rules the world Live is not fair: you don t get what you deserve but what you negotiated Page 2

3 Myth 2: Big Money, Big Success Reality is: Smart money, big success You can t buy markets If you can, the success is lottery AND American auction Creep before you walk, walk before you run Page 3

4 Myth 3: All it Needs is a Great Idea Reality is: Ideas, technologies, patents are worth nothing unless you have a plan for successful execution Talking about execution is not good enough you have to do it! Execution is relentless or not happening Page 4

5 How to Turn a Technology Into a Successful Product Day 0: have a vision, Day 1: build a mockup, Day 2: become a call center and arrange customer presentations, Day 3: improve the mockup with the customer feedback, Day 4: get back to the most interesting prospects and sell, Day 5: build the product for the customer (deliver!!). Understand market dynamics: where does the market go, who are early adopters, who is hesitant, why are all your competitors going to the right when you are going to the left? Understand best practices R&D processes and try to mimic them. Project and product manager functions are not a luxury but a necessity. Page 5

6 The People Factor No matter what technology, intellectual property or business you have, it s worth nothing if you lack execution Entrepreneurial energy and excellence in execution are BASIC requirements of a successful business Investors NEED an experienced team to have any chance of success. If you lack the right team members, we will help you find them Page 6

7 The Fund (1 / 3) - Profile Volume: 100 million Investment targets: space-related technologies and satellite applications for non-space applications Staging: first round plus follow-on investments (including potential coinvestors) with a maximum total participation of 5 million per portfolio company First round target: to break even at an annual revenue level of 1-2 million Location: any of the 18 ESA member states Target: exit after 3-6 years as a fast growing company with a global business Page 7

8 The Fund (2 / 3) Space Technologies for Terrestrial Applications Space Technologies Terrestrial Industries Page 8

9 The Fund (3 / 3) - Schedule 1. Contact 2. 1st presentation (1 4w) 3. Questionnaire (1-2w) 4. 2nd presentation / investment case discussion (1 4w) 5. Termsheet (1 4w) 6. Due diligence 7. Investment case structuring 8. Structuring 9. Preparation of contracts 10. Signing / closing Deal Flow Due Diligence Structuring Investment Case Value Added / Monitoring Exit 4-14 weeks 3 6 months 3 6 years Page 9

10 How to Approach Us You need to have a piece of technology which originates from a best of class research facility You need to have a strong vision for creating a disruptive product or service which changes the way people work or live You do NOT need a business plan but do need clear sketches about: what do you have why it is unique what your vision is how to get there Everything beyond we do together How to approach us? Like a customer! Page 10

11 Team Investors in Early Stage: Passion and Experience Uli W. Fricke Managing General Partner ICT 22 years relevant experience Associate producer at the leading BTX (German Internet predecessor) service provider MBA from University of AS Worms at the age of 22 CEO at a global educational tour operator CEO at a global niche market insurance company EVCA Chairwoman Founding partner Triangle Wiebke Passmann Investment Manager Partner ICT 6 years relevant experience MBA from University of Paderborn, major in risk management Innovation manager (Chamber of Commerce) Summer associate in venture capital firms as well as in industrial corporations. Dr. Bernd Geiger Managing General Partner ICT, Medical Devices 25 years relevant experience MS University of Heidelberg R&D work in Physics, PhD in Natural Sciences from at University of Heidelberg, Karlsruhe, EMU, German Cancer Research Center (DKFZ) R&D management at university spin-off Leica Lasertechnik, M&S management at Zeiss Consultancy for WIPO, EPO, EC Founding partner Triangle Dr. Xin Chen Investment Manager ICT 7 years relevant experience MS in Computer Science, PhD in Economics R&D work at University of Karlsruhe and University of Science and Technology of China Trainee as investment manager in venture capital firm Page 11

12 Team Investors in Early Stage: Passion and Experience Marc Nueckles Head of Finance Finance, Risk Management Portfolio Companies 4 years relevant experience MBA Indiana University of Pennsylvania Master in Economics from University of Duisburg, major in finance Passed Level II of the CFA examination Consultant Deal Services PWC Summer associate in corporate finance areas Dr. Joachim Redmer Venture Partner ICT, General Engineering 34 years relevant experience MS in Mechanical Engineering, PhD in engineering of RWTH Aachen Executive positions at IBM, SGI, BEA, Bull Consultant for technology transfer Triangle venture partner, CSO at ontoprise Julian Spruck Analyst Finance 3 years relevant experience BA in Corporate Management and Economics at the Zeppelin University Friedrichshafen Passed Level I of the CFA examination Summer associate at venture capital firms as well as in industrial corporations Joerg Kreisel Venture Partner Aerospace Industries 22 years relevant experience MS in Aerospace Engineering of RWTH Aachen Partner and investment director GENES VC Lecturer International Space University (ISU) and SPACETECH by TU Delft Independent space business & finance advisor Triangle venture partner advising iopener Media and ipharro Page 12

13 Team Proprietary Relationships with Key Experts on a Global Scale Prof. M. Rossbach medical devices Thomas Hille telecommunication Frank Salzgeber space technologies Prof. L. Wolf telecommunication Prof. J. Wolfrum Prof. H. Salzwedel ICT industry physical technologies Dr. K. Ebertshuber W. Shiebler business strategies finance W. Rogers medical devices Prof. M. Resch high-performance computing Prof. R. Studer J. Austin computer science HR D. Seckelmann HR Dr. G. Seikel law Prof. G. Sakas medical devices Prof. H.-J. Mueller software engineering Dr. F. Gauper medical devices Prof. S. Seeger sensor technologies Prof. U. Baumgarten computer science Page 13

14 We build successful companies by unleashing innovation, growing people and creating jobs for the benefit of our investors and a better world. Triangle Venture Capital Group Management GmbH Marktstrasse 65 D St. Leon-Rot Germany Tel: / Fax: / Contacts: Dr. Bernd Geiger, Managing General Partner b.geiger@triangle-venture.com Member of: Page 14