Impact Investing Lab Financing innovation: the role of Angel Investing
|
|
- Bertina Lawson
- 8 years ago
- Views:
Transcription
1 Impact Investing Lab Financing innovation: the role of Angel Investing December 3rd,
2 Entrepreneurship: a definition << Entrepreneurship is the dynamic process of creating incremental wealth. The wealth is created by individuals who assume the major risks in terms of equity, time and/or career commitment or provide value for some product or service. The product or service may or may not be new or unique but value must somehow be infused by the entrepreneur by receiving the necessary skills and resources >> Virtanen, 1997
3 Access to financial resources One of the major challenge confronting SMEs (which make up for 98% of enterprises in Europe) is getting access to financial recourses, particularly at their seed, start-up, and growth phases not least as they are often considered as a high risk investment, with potentially low returns which only materialize in the medium to long term. In a changing financial environment and to some extend due to the new rating culture, banks may be reluctant to provide credit to what perceive as their riskiest clients, potentially providing insufficient profit margins an attitude which leads to high transactions costs for SMEs. (DG Enterprise: new programme brings together competitiveness and innovation)
4 The paradox of access to finance Banks Venture Capitalists Stock Exchange have money Investors argue that there aren t enough good projects (unattractive for commercial capital) Entrepreneurs don t find capital to support their projects What is a good project? Who is right?
5 Tentative analysis of the equity paradox Businesspersons (techno-preneurs) are generally faced with four types of issues when trying to raise equity: equity aversion: cultural reluctance when it comes to opening their companies to outsiders (shareholders and managers) asymmetry of information: difficulties in presenting themselves or their business plan in a way that accommodates the priorities and management requirements of equity suppliers project investment readiness: certain equity and venture capital tools are not adapted to the needs of all businesses at all stages of their development difficulties in identifying, and reckoning with, the legal/administrative requirements of venture capital and credit providers. Such requirements include information on projects as well as financial and managerial data (corporate governance rules). Downstream of investment, businesses should also recognise the importance of regular, properly formatted reporting to investors.
6 Entrepreneurs & Investors The entrepreneur A great IDEA? A business PROJECT!! The investor
7 Entrepreneurs & investors The traditional finance gap Current European Union situation Business Finance is dominated by major Banks Finance provided to entrepreneurs is predominantly debt finance EU Banking for small/new businesses is treated as retail There are gaps in the package of support (growing or new firms) SME s market segment seen as high risk with high transaction costs Debt finance usually requires some form of security or collateral (intangible assets are not security) Venture capital market is fragmented European angel market is immature
8 The Funding Gap Pre-seed Stage Seed/Startup Stage FUNDING GAP Early Stage Later Stages 3 F Founders Family & Friends (or Fools) Angel Investors (or Clubs) Very few angel deals done above 0,5 M Venture Capitalists Very few VC deals done below 1 M K 0,5 M 1 M 5 M up
9 Funding options for an entrepreneur There are several possibilities of financing a company Own founder money LOVE money (family & friends) Bank loans & overdrafts (with or without guarantees) Public Grants & micro credits (local/national government) Informal investment - Business Angels (small equity) Venture capital or Corporate venturing (larger equity) Public shares issue (equity, IPO Initial Public Offering) EQUITY or DEBT
10 Equity Providers PROs No cost of interest and no fixed repayment schedule Stronger financial position Reduced financial pressure Access to professional network and coaching Cons Loss of management / ownership control Request for a strong financial discipline Influence on management and strategic decisions Exit route (for investor) to be prepared
11 Venture Capital Vs Business Angels VC Easy to find via directories. BA Difficult to find. Your request is only 1 among many hundred a VC receives. Request often a strong personal involvement. Can often provide large investment, e.g. via syndication. Thorough and formal due diligence and investment process. Limited amount to invest Investment decisions often quick and less formal. Syndication more and more usual. Exit route very important. Exit route less in focus
12 Business Angels - Identikit Business Angel: private individual investing own wealth in early stage businesses PLUS own expertise and network of contacts Investment Euro Equity investors Willing to share managerial skills, specialist knowledge and networks No sector preference Often prefer to invest in their region of residence local investors Seeking profit, but also fun and adventure Usually total investments below 25% of wealth Can become involved in the business management ( active Angel ) or not ( passive Angel ).
13 Angel Roles in Portfolio Companies Board of Directors (non executive director) Advisor, mentor, coach Of CEO, of management team Step in during crisis (temporary), IF Assist in raising additional money Another Angel round VC money Tee up the company for the exit
14 An Angel Portfolio Strategy Portfolio Considerations 5-10% of net worth invested (asset allocation approach) 8-15 investments (risk diversification) High tech, low tech, no tech (your choice) Variety of involvements Lead investor Board, advisor Passive Most of ROI from 1-2 of 10 companies
15 An Angel Portfolio Strategy Integration Exits into Portfolio Strategy VCs exit in 3-5 years (assume 5) Angels invest earlier and expect to exit in 5-7 years (average assume 7) A balanced angel portfolio contains ten companies Consequently, angels should invest in 2-3 companies per year Build to ten company portfolio gradually A portfolio of companies in all stages of development Good balance for investors time and management commitment
16 An Angel Portfolio Strategy What a Business Angel is looking for What a Business Angel is looking for A compelling and sustainable business plan A strong and engaged management team High growth, scalability, strong financial projections Prototype/Product/Service readiness Operational involvement of the Angel investor Adequate and objective pre-money valuation High Perceived return Friends&Family Business Angels Medium Entrepreneur Venture Capital Low S&P500 Nasdaq Investors Banks Low Medium High Perceived risk
17 An Angel Selection Strategy Angel Toolkit Elevator Pitch Executive Summary PowerPoint Full Business Plan (write full BP first) 2 minutes verbal summary: Product, opportunity, differentiation Attract interest not closing 2-4 pages written summary Balanced presentation Attract interest not closing 20 minute verbal presentation Cover whole business plan Find serious investors pages plus appendices Validation scorecard (due diligence) Basis for all other plan forms
18 Why Angels Join Groups Solo Angel Investing Investment Process is time-consuming Deal sourcing Reading business plans Due diligence Due diligence is difficult Finding vertical experience May require using outside experts Legal (and fiscal) support is expensive
19 Why Angels Join Groups Investing through Angel Organization Dividing the work eases the pain Variety of vertical experience available Standardized processes and term sheets Deal flow encouraged, entrepreneur-friendly Pick and choose the deals you like Great camaraderie among the like-minded The next future angel investment?? through angel group /club!!
20 IBAN Association Our Network to sustain Informal Venture Capital Market The Association IBAN is the institution that understands and represents the Italian community of the informal venture capital investors. Over the years IBAN has created a strong "relationship network" that provides a common factor to the skills and experiences of many organizations and operators in the sector, covering the entire "value chain" of "early stage phase of SME s. FINANCING INSTITUTIONS BUSINESS ANGELS IBAN SERVICES TO SME s TECHNOLOGY CENTRES In this way IBAN can effectively support the start-up in the process of growth and value creation. NATIONAL AND INTERNATIONAL PARTNERS
21 IBAN Association Objectives reached in 15 years of business 1. Improvement of European best practices, through close collaboration between IBAN and the other partners of BAE 2. The role of business angels, as an economic operator, continues to grow: sharp increase in the number of deals closed in the last 5 years recognition of the importance of BA in the financial market 3. The Italian government has approved the tax exemption on capital gains on Angel Investing (Law 133/08, article 3) 4. During 2012 the Association IBAN has been approached both by Banca d Italia and by the Ministry of Economic Development with regard to measures to support the sector (Law 221, 17 december 2012).
22 IBAN Association 4.4. Italian BA Profile Network BA's personal structureprofile from a recent Survey IBAN Association Business Angels & professionals B.A.N. - regional operating area and focus on crosssector businesses B.A.N. - national/international operating area ad focus on cross-sector businesses Angel Investors Club IBAN has close relationships with leading Italian law firms and fiscal&tax advisors. Thanks to this, IBAN members are entitled to access detailed information on Angel Investing and on legal and fiscal news related to risk capital investing, as well as an operating guide on main contractual obligations and terms that Entrepreneurs and Investors have to agree upon, in preparation to the closing of the deal.
23 IBAN Association Business projects received by IBAN (2013) Total business projects received in 2013 (through IBAN website): 667 Business projects with structured Executive Summary: 202 Business projects - High Rating: 103 Business projects - Low Rating: 99 Limited number of business project with high-quality documentations Source: IBAN Association, internal data 2013
24 Via Ampère, 61/A Milan Italy Tel Fax Member of: Paolo Anselmo - IBAN President presidenza@iban.it
Business Angels - an alternative source of financing innovative SMEs
Business Angels - an alternative source of financing innovative SMEs EBAN The European Trade Association for Business Angels, Seed Funds and other Early Stage Investors Jacek Blonski Vice President European
More informationsource of financing innovative SMEs
Business Angels - an alternative source of financing innovative SMEs EBAN The European Trade Association for Business Angels, Seed Funds and other Early Stage Investors Jacek Blonski Vice President European
More informationFinancing for innovative development
Financing for innovative development Business angel investing in Europe Thursday, May 3rd 2007 Claire Munck General Manager European Business Angel Network Index Characteristics of Business Angels Characteristics
More informationSources of Financing for Innovative SMEs: Public Sector Funds, Banks, Business Angels and Seed Funds, Venture Capitalists,
Sources of Financing for Innovative SMEs: Public Sector Funds, Banks, Business Angels and Seed Funds, Venture Capitalists, Luigi Amati CEO META Group THIRD WIPO-INSME INTERNATIONAL TRAINING PROGRAM: FINANCING
More informationAccess to finance for. SMEs. István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs
Access to finance for SMEs István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs Why EU intervention needed? EU financial instruments for SMEs Building on success
More informationRules and Regulations
Rules and Regulations Article 1 Objectives 1.1 The Call For Entrepreneurship is a systematic and agile process for the assessment of projects for capital venture investment within the scope of Portugal
More informationFinancing a New Venture
Financing a New Venture A Canadian Innovation Centre How-To Guide 1 Financing a new venture New ventures require financing to fund growth Forms of financing include equity (personal, family & friends,
More informationGuide to Public and Private Funding
Guide to Public and Private Funding Introduction to public and private funding Key Public Funding Opportunities Key Private Funding Opportunities Which funding opportunity is right for my business? Do
More informationA Bootstrapping story (Bootstrap: starting a company with little capital)
A Bootstrapping story (Bootstrap: starting a company with little capital) We made 500 of each (Obama O's and Cap'n McCains). They were a numbered edition on the top of each box, and sold for $40 each.
More informationInsufficient Cash On Hand A Frequent Reason For Needing A Business Loan
Insufficient Cash On Hand A Frequent Reason For Needing A Business Loan 2 Cash flow is cash into or out of a business When cash inflows exceed cash outflows, it is generally indicative of good financial
More informationCreating a Financing Strategy for Your Business
Creating a Financing Strategy for Your Business "It is not the critic who counts...credit belongs to the person who is in the arena, whose face is marred by dust and sweat and blood...whose place shall
More informationKey Steps Before Talking to Venture Capitalists
Key Steps Before Talking to Venture Capitalists Some entrepreneurs may not be familiar with raising institutional capital to grow their businesses. Expansion plans beyond common organic growth are typically
More informationIPOs, Venture Capital and High- Growth Start-ups
IPOs, Venture Capital and High- Growth Start-ups European Commission DG Enterprise and Industry Workshop IPOs exits on high-growth stock markets in the EU Improving opportunities for IPOs Dr. Jürgen Schaaf
More informationEuropean Union SME policies. Ulla Hudina
European Union SME policies Ulla Hudina EU Finance Day for SMEs, Athens, 20th January 2009 Supporting SMEs SMEs backbone of EU economy: important players in all value chains; 23 million SMEs (99 % of all
More informationSCORECARD VALUATION METHODOLOGY Establishing the Valuation of Pre-revenue, Start-up Companies by Bill Payne
SCORECARD VALUATION METHODOLOGY Establishing the Valuation of Pre-revenue, Start-up Companies by Bill Payne This article was originally written in May 2001 and extensively revised in January 2011. The
More informationAGENDA, Friday 24 October 2008. Financing Technology Ventures. FINANCING Technology Ventures Agenda. Capital: for what? Business Development!
AGENDA, Friday 24 October 2008 Financing Technology Ventures FINANCING Technology Ventures Agenda Capital: for what? The Sources: Origin of Capital Types related to Business Development Investors: types
More informationBusiness Planning, Intangible Assets and Finance
Business Planning, Intangible Assets and Finance Dr. Guriqbal Singh Jaiya Director Small and Medium-Sized Enterprises Division World Intellectual Property Organization www.wipo.int/sme Lifecycle of a Startup
More informationVENTURE CAPITAL 101 I. WHAT IS VENTURE CAPITAL?
VENTURE CAPITAL 101 I. WHAT IS VENTURE CAPITAL? Venture capital is money provided by an outside investor to finance a new, growing, or troubled business. The venture capitalist provides the funding knowing
More informationImportant Things for Entrepreneurs to Know about Angel Investors
Important Things for Entrepreneurs to Know about Angel Investors Equity Capital Markets Large, Complementary Early Stage Late $26.0B 57,000 deals Mostly early stage Mostly later stage 3,813 deals $29.4B
More informationMeasures to support access to finance for SMEs. Funding for Lending... 2. The National Loan Guarantee Scheme (NLGS)... 2
Measures to support access to finance for SMEs Contents Funding for Lending... 2 The National Loan Guarantee Scheme (NLGS)... 2 Enterprise Finance Guarantee (EFG)... 3 Business Finance Partnership (BFP)...
More informationMedia for Equity: the newest VC concept from Europe. Elena Bocharova for Berliner Börsenkreis 30 June, 2015
Media for Equity: the newest VC concept from Europe Elena Bocharova for Berliner Börsenkreis 30 June, 2015 Outline: get excited How do you finance a company? A brief overview Media for Equity: what do
More informationHow to Pitch For Investment Colin Spiller
The Entrepreneurial Way Workshop Wednesday 30 January How to Pitch for Investment Colin Spiller What form of business do you want? Organic Business Less impact Slower growth Just debts More manageable
More informationBusiness Angels in Europe today. Aleksandar Cabrilo EBAN
Business Angels in Europe today Aleksandar Cabrilo EBAN About EBAN Not for profit organization based in Brussels Created in 1999 by Eurada with the support of European Commission Members in 35 countries
More informationFundraising for Entrepreneurs
Fundraising for Entrepreneurs Taylor Davidson taylordavidson.com I m Taylor VC Entrepreneur Previous professional experience includes: strategy consultant, startup CFO and business development, private
More information5. Funding Available for IP-Rich Businesses
20 IP Finance Toolkit 5. Funding Available for IP-Rich Businesses Introduction As the Banking on IP? report notes; SMEs first port of call for finance is often a bank. Figures quoted in the report show
More informationManaging Cash Flow & Accessing Finance
Managing Cash Flow & Accessing Finance A Presentation by Clive Lewis, Head of Enterprise, Institute of Chartered Accountants in England & Wales (ICAEW) Managing Cash Flow & Accessing Finance Presentation
More informationRaising Business Angel Investment. EBAN Institute Bootcamp Moscow 2 nd October 2013
Raising Business Angel Investment EBAN Institute Bootcamp Moscow 2 nd October 2013 Executive summary 1 2 3 Equity raising process Top three investment criteria Company executive summary Business plant
More informationIdea to Exit: Financing
Seminar Series: Startup Law 101 for Entrepreneurs Idea to Exit: Financing Patrick Pohlen and Ben Potter, Latham & Watkins LLP October 2, 2014 Latham & Watkins operates worldwide as a limited liability
More informationCorporate Financing Strategies For Emerging Companies HAUSWIESNER KING LLP
Corporate Financing Strategies For Emerging Companies What is Corporate Finance? The process by which companies raise capital, especially to fund growth, acquisitions etc. The primary goal of corporate
More informationTHE ITALIAN STARTUP AGENDA
THE ITALIAN STARTUP AGENDA POLICIES AND STRATEGIES FOR INNOVATION ITALIAN MINISTRY OF ECONOMIC DEVELOPMENT DG FOR INDUSTRIAL POLICY, COMPETITIVENESS AND SMES MINISTER S TECHNICAL SECRETARIAT 26 TH MAY
More informationIntroduction to VC and MAVCAP August 2013
Introduction to VC and MAVCAP August 2013 www.mavcap.com 1 AGENDA PART I: Brief Introduction to Venture Capital (VC) i. The Funding Spectrum ii. What is VC iii. How VC Works PART II: Brief Introduction
More informationSeed Funding and Venture Capital Course Certificate Program. Greg Horowitt, Managing Director, T2 Venture Capital Kauffman Fellow, Class XV
Seed Funding and Venture Capital Course Certificate Program Greg Horowitt, Managing Director, T2 Venture Capital Kauffman Fellow, Class XV Overview Introduction to Venture Capital Instruction provided
More informationGeneral Presentation Funding Landscape & EI Support
General Presentation Funding Landscape & EI Support Funding Your Business Kevin Sherry Executive Director Enterprise Ireland Ireland Definitely the right place to start! IMD World Competitiveness Report
More information1_ The Italian Startup Ecosystem: "Who s Who" 2_ Investments in hi-tech startups in Italy. 3_ A selection of significant startups
1_ The Italian Startup Ecosystem: "Who s Who" 2_ Investments in hi-tech startups in Italy 3_ A selection of significant startups The Italian Startup Ecosystem The players Funded Startups Innovative Startups
More informationOverview. Modules. Programme Structure
Overview The Entrepreneurship & Innovation Asia Programme is conducted by Nanyang Technopreneurship Center, the dedicated center offering Entrepreneurship Education to NTU students. The programme consists
More informationHow To Support A Business In Europe
Support for Research, Development and Innovation Introduction: «Financial instruments for SMEs and larger companies provided by the European Union and the European Investment Bank» Seminar on «Financial
More informationThe Young Entrepreneur's guide to starting a business (Part 5)
Page 1 The Young Entrepreneur's guide to starting a business (Part 5) Richard Belsey & Fergal McLoughlin May 2013 A whistle stop tour of alternative funding options for start-ups As part of our Young Entrepreneur
More informationGrow VC Group ++ www.growvc.com ++ @growvc ++ Copyrights Grow VC Group 2014 smart city expo 2014 Valto Loikkanen
Grow VC Group ++ www.growvc.com ++ @growvc ++ Copyrights Grow VC Group 2014 smart city expo 2014 Valto Loikkanen For twitter @valto #startupecosystem About me As an Entrepreneur 20 years as international
More information04.25.08. Shahin Farshchi, Ph.D. Associate shahin.farshchi@luxcapital.com. shahin.farshchi@luxcapital.com
An Introduction to Technology Commercialization and Venture Capital 04.25.08 Shahin Farshchi, Ph.D. Associate 1 Talking Points I. Roadmap from the lab to the marketplace II. Who VCs are and how VC works
More informationOperations, Flips & Financing
Setting up in the USA: Operations, Flips & Financing Julie Wicklund June 2013 2013 Cooley LLP, Five Palo Alto Square, 3000 El Camino Real, Palo Alto, CA 94306 The content of this packet is an introduction
More informationFinancing your business. Dr. T. R. Heidrick Poole Professor in Technology Management Faculty of Engineering/School of Business U of A
Financing your business Dr. T. R. Heidrick Poole Professor in Technology Management Faculty of Engineering/School of Business U of A Risk Capital ct. d Earns returns through participation in the future
More informationZenith: A Strategic Funding Journey for Tech CEOs
Zenith: A Strategic Funding Journey for Tech CEOs An initiative of the ISA Software Skillnet in association with the Irish Software Association and the Irish Management Institute Do you have the knowle
More informationEarly Stage Funding. Dragon Law. This book is for sale at http://leanpub.com/earlystagefunding. This version was published on 2015-12-09
Early Stage Funding Dragon Law This book is for sale at http://leanpub.com/earlystagefunding This version was published on 2015-12-09 This is a Leanpub book. Leanpub empowers authors and publishers with
More informationSMEs access to finance survey 2014
EUROPEAN COMMISSION MEMO Brussels, 12 November 2014 SMEs access to finance survey 2014 This memo outlines the results of a survey undertaken by the European Commission to provide policy makers with evidence
More informationCOMMISSION OF THE EUROPEAN COMMUNITIES
COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 29.6.2006 COM(2006) 349 final COMMUNICATION FROM THE COMMISSION TO THE COUNCIL, THE EUROPEAN PARLIAMENT, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND
More informationDirectory of Capital for California Small and Mid-Size Businesses
Directory of Capital for California Small and Mid-Size Businesses Proposal: Design a web-based directory of capital targeted at entrepreneurs. There is no need to "reinvent the wheel." Our goal would be
More informationPrivate and public financing for the acquisition of SMEs
16.15 > 17.30 Workshop 4 Private and public financing for the acquisition of SMEs Moderator : Maurice Olivier CEO, BlueOcean Ventures Switzerland 16.15 > 17.30 Workshop 4 Private and public financing for
More informationLaw & Economics of Contracting & Organizations - Day 3. Erik P.M.Vermeulen
Law & Economics of Contracting & Organizations - Day 3 Erik P.M.Vermeulen Case - Questions? MedTechCo Venture Capital Firm Term Sheet Financing the Start-Up Options The hard way The other hard way The
More informationInvesting in London s early-stage creative businesses
Investing in London s early-stage creative businesses THE CREATIVE CAPITAL FUND Are you a creative company or entrepreneur based in London seeking investment to take your business to the next level? Do
More informationA PRACTICAL GUIDE TO VENTURE CAPITAL FUNDING FOR EARLY STAGE COMPANIES
A PRACTICAL GUIDE TO VENTURE CAPITAL FUNDING FOR EARLY STAGE COMPANIES A COURTESY GUIDE PREPARED BY SWAAB ATTORNEYS 2014 Introduction to venture capital investment Venture capital is money provided by
More informationHow To Understand And Understand The Euro Zone Micro To Medium Enterprise
22 November 2012, Madrid 1. Introduction on EIF Introduction on EIF 2 / 21 Introduction on EIF EIF at a Glance 1. Introduction on EIF EU specialised institution for SMEs, risk financing Venture Capital
More informationHow To Start A Business Or Non Profit
www.iamdellgines.com Your Personal Entrepreneurship Professor How to REALLY start your business or non-profit: Introduction to going from zero to startup Introductions What Qualifies Me to Teach You Business
More informationPrivate banking in Italy: Holistic advisory for family-run business in an increasingly globalised environment
Private banking in Italy: Holistic advisory for family-run business in an increasingly globalised environment by Andrea Cingoli, Banca Esperia SpA The Italian private banking sector is developing a new
More informationSources of Funds: Equity and Debt
Sources of Funds: Equity and Debt The Secrets to Successful Financing 1. Choosing the right sources of capital is a decision that will influence a company for a lifetime. 2. The money is out there; the
More informationEntrepreneurship & Innovation in Business
Michael Farrell Director PKF-FPM ACCOUNTANTS LTD. Entrepreneurship & Innovation in Business Raising Finance for Innovative Products Format of Workshop Overview and Importance of Innovation. Cause of funding
More informationInnovation and PPP financing: The European Investment Fund
Innovation and PPP financing: The European Investment Fund Dr. Helmut Kraemer-Eis Head of Research & Market Analysis European Investment Fund UNECE - 12 February 2014 Geneva What is the EIF? As part of
More informationELEFTHO : Supporting Business Incubators & technology parks.
ELEFTHO : Supporting Business Incubators & technology parks. Region of Central Macedonia Task Page 1 of 14 Contents Description of policy... 3 Name of the policy... 3 Responsible body... 3 Implementation
More informationFinancing Issues for medtech startups Term Sheet Essentials. Michel Jaccard
Financing Issues for medtech startups Term Sheet Essentials Michel Jaccard Introduction Growth financing Debt or equity? Pros and Cons / Risks and Rewards Why equity financing is preferred for early stage
More informationCapital Market Glossary of Terms Apple Capital Group, Inc
GLOSSARY OF TERMS -A- Accredited Investor The SEC designation for an individual or entity meeting any of the following criteria: Any director, executive officer, or general partner of the issuer of the
More informationOverview of the EIB Group Financial Instruments for SMEs
Overview of the EIB Group Financial Instruments for SMEs Lublin, 22 June 2015 Tomasz Kozlowski Head of Innovation & Alternative Financing Programmes European Investment Fund European Investment Bank Group
More informationFinancing Profiles SMALL BUSINESS. SME Financing Data Initiative May 2006. Definitions. Summary of Key Findings
SMALL BUSINESS Financing Profiles SME Financing Data Initiative May 2006 High-Growth SMEs Small businesses are key to economic growth. Recent studies by Industry Canada (Parsley and Dreessen, 2004) and
More informationSpecial Topics: Seeking Venture Capital for Your Tech Startup
PHYS 4980/6980 Special Topics: Seeking Venture Capital for Your Tech Startup Instructor: Dr. Xunming Deng, Professor of Physics, University of Toledo Email: xunming.deng@utoledo.edu; Phone: (419) 530 4782;
More informationNZVIF Portfolio Investment Snapshots
Introduction Early stage investing is enjoying a period of marked growth. Angel investing is at record levels, equity crowdfunding platforms are now underway, and there is a growing number of young technology
More informationBritish Council Zambia Shaping our Future Conference (26 & 27 March 2013) Ways of Growing SME Innovation and Finance
British Council Zambia Shaping our Future Conference (26 & 27 March 2013) Ways of Growing SME Innovation and Finance Presenter: Mr.Trevor Simumba, MD Sub-Saharan Consulting Group Zambia Limited Sub-Saharan
More informationGuidelines Business Plan
Guidelines Business Plan and Innovation CTI Jurors evaluate business plans and provide feedback entrepreneurs in 9 areas and VCs in 4 areas Objectives Elements of evaluation Relevant for ranking 1 Jurors
More informationRaising Venture Capital: An Entrepreneurial & GP/LP Perspective
Global Private Equity Investing Conference April 2, 2008 Raising Venture Capital: An Entrepreneurial & GP/LP Perspective Pradeep Pandey Board Member, TiE Silicon Valley CEO, Gelina, Inc. Agenda An Entrepreneur
More informationNote on Private Equity Deal Structures
Case # 5-0006 Updated January 12, 2005 Note on Private Equity Deal Structures Introduction Term Sheets are brief preliminary documents designed to facilitate and provide a framework for negotiations between
More informationRihards Gailums. Twitter: @RihardsGailums. rihards.gailums@rhtu.edu.lv
Rihards Gailums Twitter: @RihardsGailums rihards.gailums@rhtu.edu.lv Tech Startups are main driving force of competitiveness for small, knowledge based economies NOT- SCALABLE SCALABLE Exponential Technologies
More informationRecent Business Cases
Entrepreneur$hip Recent Business Cases Bay Collection Boutique Retail CodoniX Medical Software Signal International Heavy Marine Manufacturing 2 ENTREPRENEURSHIP so you want to own or run a business! Are
More informationBUSINESSES IN EXPANSION AND MANUFACTURERS: OPPORTUNITIES AND NEEDS BDC ViewPoints survey. Research and Market Intelligence at BDC June 2013
BUSINESSES IN EXPANSION AND MANUFACTURERS: OPPORTUNITIES AND NEEDS BDC ViewPoints survey Research and Market Intelligence at BDC Executive summary METHODOLOGY 140 Canadian business professionals, members
More informationFUNDING FOR RECOVERY Invest Northern Ireland February 2014
FUNDING FOR RECOVERY Invest Northern Ireland February 2014 Access to Finance Totality of Funds Purpose Rationale Access to Finance solutions Key criteria The Funds Finance vouchers Priorities Concluding
More informationBusiness Opportunity Identification and Selection. Dr. Neeraj Pandey Assistant Professor LM Thapar School of Management
Business Opportunity Identification and Selection Dr. Neeraj Pandey Assistant Professor LM Thapar School of Management Who is an Entrepreneur? An Entrepreneur is a person who organizes and manages a business
More informationBANCA SISTEMA: NET INCOME +36% IN H1 2015 1
PRESS RELEASE BANCA SISTEMA: NET INCOME +36% IN H1 2015 1 Rising factoring turnover: +36% % in H1 2015 compared with H1 2014 +37% in Q2 2015 compared with Q2 2014 Net interest income up by 20% compared
More informationVenture Capital a primer
Venture Capital a primer And some lessons learned for entrepreneurs Martin De Prycker November 2015 Contents I. VCs and how they work Qbic Fund Sources of Capital Fund structure What does a fund offer?
More informationVenture Capital Basics
Venture Capital Basics Presented by B. Marc Averitt Matthew V. Waterman Managing Director Partner Okapi Venture Capital Corporate Counsel Group LLP Phone: (949) 715-5555 Phone: (949) 548-1790 averitt@okapivc.com
More informationDo you really need investors?
Do you really need investors? Bootstrapping vs funding Wolves Summit, Gdynia, April 2015 Raise or bootstrap? For too many start-ups raising capital has replaced building a well-balanced business Money
More informationPart 10. Small Business Finance and IPOs
Part 10. Small Business Finance and IPOs In the last section, we looked at how large corporations raised money. In this section, we will examine some of the financing issues facing small and start-up businesses.
More informationFinancing the Business. Practical Entrepreneurship Training Part 4
Financing the Business Practical Entrepreneurship Training Part 4 Kieran Moynihan ( kieran.moynihan@cit.ie ) Entrepreneur-in-residence, Cork Institute of Technology, Cork, Ireland October, 2013 Financing
More informationCall for Entrepreneurship Rules and Regulations
Call for Entrepreneurship Rules and Regulations ARTICLE 1 Objectives 1.1 The Call for Entrepreneurship is a systematic and agile process for the assessment of projects for capital venture investment within
More informationGive the floor to investors! Tips & tricks
1 Follow-up early stage investor meeting @ Palo Alto Give the floor to investors! Tips & tricks BELGIAN TRADE COMMISSION, 2015 Panelists Jim Scheinman, Founder, Investor, Advisor @Maven Ventures - VC and
More informationSupporting Innovation in Slovenia. Ljubljana, 12 June 2015
Supporting Innovation in Slovenia Ljubljana, 12 June 2015 Welcome addresses: Sabina Koleša Director General, Ministry of Economic Development and Technology Sibil Svilan President and Member of the Management
More informationSupporting Innovation in Turkey. Istanbul, 16 April 2015
Supporting Innovation in Turkey Istanbul, 16 April 2015 Welcome addresses: Cansen Basaran Symes President, Turkish Industry and Business Association (TÜSİAD) Pim van Ballekom Vice-President, European Investment
More informationEquity Crowdfunding: Growing But Not Yet Of Age
Equity Crowdfunding: Growing But Not Yet Of Age By: Geri Stengel Why equity crowdfunding is important Need less than $5 million to make your business dream a reality? Good luck with that! Banks regard
More informationAngel Happy Hour. Peter Adams Executive Director, RVC
Angel Happy Hour Peter Adams Executive Director, RVC RVC Upcoming Events 27 th Colorado Capital Conference Monday, October 12 th 5:00pm to 8:00pm Tuesday, October 13 th All Day! www.coloradocapitalconference.org
More informationA little book about funding. your way from zero to A
A little book about funding your way from zero to A Dear startup What is a startup? This is a very quick D-I-Y guide of how to attract funding to your startup from zero to A. We ve collected some of our
More informationContact. Course Facebook Group UIUC ENG/TE 360 / ENG/TE 460 www.facebook.com/groups/uiuceng360/
LECTURES IN ENGINEERING ENTREPRENEURSHIP ENG/TE 460 (on-site and online)/eng/te 360 SYLLABUS FALL 2015 Instructor: Gary Durack and Guest Speakers Teaching Assistant: Jinghua Xing Class meeting time and
More informationBoosting the Investment- Readiness of SMEs and Small Midcaps in Europe and Associated Countries. co-funded by the European Commission
Boosting the Investment- Readiness of SMEs and Small Midcaps in Europe and Associated Countries co-funded by the European Commission The policy toolbox Capacity Building InvestHorizon boosting Investment
More informationSupporting Innovation in Portugal. Lisbon, 27 February 2015
Supporting Innovation in Portugal Lisbon, 27 February 2015 Welcome addresses: Birthe Bruhn-Léon Director for Lending in Iberia, EIB José Carlos Caldeira President, National Agency of Innovation (ANI) João
More informationR A I S I N G F U N D S I N SWEDEN
R A I S I N G F U N D S I N SWEDEN Raising funds in Sweden Sweden can offer good opportunities and many ways to raise finance for businesses. The costs of establishing a Swedish limited company are low
More informationRaising financial capital
Cambridge Judge Business School Raising financial capital Simon Stockley Senior Teaching Faculty in Entrepreneurship Objectives: Planning your funding strategy key questions Appropriate funding sources
More informationOnline Accounting Software FUNDING OPTIONS GUIDE
Online Accounting Software FUNDING OPTIONS GUIDE Why you need to think about funding Every business needs money. Starting a business presents new challenges, many of which will require some financial outlay.
More informationFunding your Business October 2014
Steve Plaskitt Corporate Finance Partner 07881 511 853 steve.plaskitt@taitwalker.co.uk Funding your Business October 2014 Contents Overview Finding the right structure Sourcing the right funding Internal
More informationVenture Capital Term Sheets 101: Understanding Critical Terms of Your Early Stage Venture Deal
Venture Capital Term Sheets 101: Understanding Critical Terms of Your Early Stage Venture Deal Presented by Mitchell C. Shelowitz Shelowitz & Associates PLLC Tel: 646-839-4621 Cell: 917-669-8427 Email:
More informationThe ABCs of Venture Capital A Primer from the National Venture Capital Association
The ABCs of Venture Capital A Primer from the National Venture Capital Association Courtesy of the Entrepreneurs Forum of the Great Northwest c/o Tipperary Press P.O. Box 81 Spokane, WA 99210 e-mail: EFGNW@aol.com
More informationSalvatore Zecchini Chairman OECD Working Party on SMEs and Entrepreneurship
FOSTERING SMEs AND ENTREPRENEURSHIP FINANCING AFTER THE CRISIS Confindustria - OECD MiSE - Roma 7th July 2014 Salvatore Zecchini Chairman OECD Working Party on SMEs and Entrepreneurship 1 Six years after
More informationM Simpson Associates
Download M Simpson Associates A Straight Talking Consultancy Business specialists with the ability to see through the smoke and get to the bottom line quickly Exclusive Business Insight from M Simpson
More informationWWW.EZCONSULTING.COM.AU. Capability Statement
WWW.EZ.COM.AU Capability Statement Capability Statement EZ Consulting provides Business Advisory Services and Operational Support to small and medium sized businesses, specialising in: o o o o Business
More informationFunding Alternatives in the Current Economic Environment
Funding Alternatives in the Current Economic Environment RISE 2010 Alan Bickerstaff Technology and Emerging Companies Group Andrews Kurth LLP 111 Congress Avenue, Suite 1700 Austin, Texas 78701 (512) 320-9229
More informationPoland. Funds raised - Industry statistics - Incremental closings during year. Table of Contents. CREATING LASTING VALUE EVCA Yearbook 2011 I 269
CREATING LASTING VALUE EVCA Yearbook 2011 I 269 Funds raised - Industry statistics - Incremental closings during year Amounts in thousands Amount % Amount % Fund ownership type Independent funds raised
More informationFinancing Options for Companies at Each Stage of Growth
Financing Options for Companies at Each Stage of Growth Nia Stefany Managing Partner Contents Introduction to Who We Are What is an Investment banker? Investment Bankers Value Proposition Investors Expectations
More information