MIT $50K Global Startup Workshop Community, Connection & Collaboration Panel 3: The Role of Financing in the Entrepreneurial Ecosystem Moderator: Valentina Sequi; MIF Panelists: Rodrigo Villar; Managing Director for New Ventures, Mexico Pablo Brenner; Prosperitas, Uruguay Diego May; Link Inmersiones, Costa Rica March 29, 2006
The Entrepreneurship Ecosystem Entrepreneurial Spirit Friends & Family Seed /Angel Capital Venture Capital M&A Capital Markets The Entrepreneurship Ecosystem Chain MIT $50K Global Startup Workshop 2005-2006 Page 2
The Broken Links in the Region s Chain Entrepreneurial Spirit Friends & Family Seed /Angel Capital Venture Capital M&A Capital Markets Need to Bridge MIT $50K Global Startup Workshop 2005-2006 Page 3
An Integral Solution to the Problem Program - US $7.5M Incubation Angel Network SMB Acceleration Financing mechanisms PARQUETEC Mesoamerica Foundation CAMTIC (Chamber of sw) Desyfin Development of entrepreneurial culture Training Pipeline generation for the rest of the project MIT $50K Global Startup Workshop 2005-2006 Creation of angel Network Creation of mechanisms for seed investing (with MIF co-inv) Coordination Support from INCAE Internationalization support Regional expansion Consulting and training in exporting related topics Angel investment Page 4US $2.5M Discount of contracts as a way of financing Other financial instruments available for Tech SMBs US $1.4M US $1.25M US $1.4M US $1M
New Ventures México es un programa del Fondo Mexicano para la Conservación de la Naturaleza, A.C. y el World Resources Institute
1% New Ventures México es un programa del Fondo Mexicano para la Conservación de la Naturaleza, A.C. y el World Resources Institute
Financing Sources IPO Comercial Loan Private Capital Leasing Factoring Suppliers Venture Capital Retained Income Strategic Aliances Angel Investors Friends and Family Personal Resources New Ventures México es un programa del Fondo Mexicano para la Conservación de la Naturaleza, A.C. y el World Resources Institute R & D Start Up Growth Consolidation Month -18 / -2 Month -2 / 18 Month 18 / 36 Month 36 / 60 Month 60 +
Financing Sources in Mexico IPO Comercial Loan Private Capital Leasing Factoring Suppliers Venture Capital Retained Income Strategic Aliances Angel Investors Friends and Family Personal Resources R & D Start Up Growth Consolidation Month -18 / -2 Month -2 / 18 Month 18 / 36 Month 36 / 60 Month 60 + Micro Small Medium Large Eassy Access in Mexico Difficult Access in Mexico No Access in Mexico New Ventures México es un programa del Fondo Mexicano para la Conservación de la Naturaleza, A.C. y el World Resources Institute
Venture Capital Market in Argentina: Is it possible? Gabriel Jacobsohn gjacobsohn@iecyt.com.ar
Mercado de Capital Riesgo 3,000 needed to fill the financial gap Demand Supply High growth potential companies Business Angels Venture Capital Companies 300/400 created per year 30/40 very high growth 5 Specialized & Actives Founds gjacobsohn@iecyt.com.ar
Venture Capital System Environment Macroeconomics DEMANDA Legal Framework OFERTA Tax System High growth potential companies Business Angels Venture Capital Companies Unreliability Irregularity Access to information Entrepreneurial Culture gjacobsohn@iecyt.com.ar
Venture Capital System Institutional Investors Big Companies gjacobsohn@iecyt.com.ar Universities PROMOTERS Legal Framework Tax System Intermediaries DEMANDA OFERTA High growth potential companies Business Angels Venture Capital Companies Public Policy Designers Entrepreneurial Culture Environment Stock Market Access to information Macroeconomics Incubators Unreliability Irregularity
Public Policies to foster the Venture Capital Market Environment Entrepreneurs Business Angels Venture Capital Companies Found of founds Subventions Guaranties Credits Macroeconomic Stability Promotion of an entrepreneurial culture Set up a legal framework to create new firms Institutional Learning Facilitate exist strategies Venture Capital Culture Investment Readiness Demand of K data bases Sensitize, Information & Formation Supply of K data bases First filtering of opportunities Angels Networks Tax benefits gjacobsohn@iecyt.com.ar
1999 2002 2003 2004 2005 2006 Caída del Nasdaq Crisis de la Economía Argentina Boom Internet Aparición de fondos de inversión Surgimiento Público de Inversores Angeles 1 Foro de Capital de Riesgo 13 14 de noviembre de 2004 2 Foro de Capital de Riesgo 24-26 de agosto de 2005 gjacobsohn@iecyt.com.ar
Venture Forum 2004 & 2005 Just Do It!!!!! gjacobsohn@iecyt.com.ar
MIT $50K Global Startup Workshop Community, Connection & Collaboration Panel 3: The Role of Financing in the Entrepreneurial Ecosystem Moderator: Valentina Sequi; MIF Panelists: Rodrigo Villar; Managing Director for New Ventures, Mexico Pablo Brenner; Prosperitas, Uruguay Diego May; Link Inmersiones, Costa Rica March 29, 2006