20131112 ndrc we make ventures happen_helen mcbreen

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We make ventures happen

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NDRC - National Digital Research Centre. NDRC is an early stage investor in innovation. We invest directly into innovative startups and indirectly to improve the environment within which ventures can grow. We work with the best and brightest researchers, technologists and entrepreneurs to turn great ideas into successful ventures. Over the last five years we have been working to build the best model for supporting early stage technologies, and we’re starting to see the results. By the end of 2012 our portfolio of startup ventures had secured €16m in commercial investment from angel and VC investors. Each year we work with c.1,000 individuals and we invest into c.40 early stage technology ventures.

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Page 1: 20131112 NDRC We Make Ventures Happen_Helen McBreen

We make ventures happen

Page 2: 20131112 NDRC We Make Ventures Happen_Helen McBreen

• Keep  your  presenta-on  simple    and  to  the  point.  •   Structure  your  presenta-on    to  have  a  clear  flow.  • Know  what  you  want  to  say.    • Know  who  you  want  to  say  it  to.  • Remember:  less  is  always  more.  

Title  

2   NDRC  

About Us

Page 3: 20131112 NDRC We Make Ventures Happen_Helen McBreen

NDRC’s mission is to create market capital by building high-impact new ventures.

What is NDRC?

3 NDRC

Page 4: 20131112 NDRC We Make Ventures Happen_Helen McBreen

NDRC’s mission is to create market capital by building high-impact new ventures.

What is NDRC?

4 NDRC

How: NDRC’s HANDS-ON TEAM WITH SPECIALIST CAPABILITIES

+ DEDICATED SPACE TO BUILD AN ECOSYSTEM

+ INVESTMENT FUND

+ FLEXIBILITY TO OPERATE AS COMMERCIAL

ENTITY

Page 5: 20131112 NDRC We Make Ventures Happen_Helen McBreen

Why NDRC?

5 NDRC

Availability of Funding / Investment

Research space: public grants

Technologies-to-market timeline

Page 6: 20131112 NDRC We Make Ventures Happen_Helen McBreen

Why NDRC?

6 NDRC

Availability of Funding / Investment

Technologies-to-market timeline

Commercial space: Angel/Seed VC, Early VC, Later VC

Research space: public grants

Page 7: 20131112 NDRC We Make Ventures Happen_Helen McBreen

Why NDRC?

7 NDRC

Availability of Funding / Investment

Technologies-to-market timeline

THE GAP

Research space: public grants

Commercial space: Angel/Seed VC, Early VC, Later VC

Page 8: 20131112 NDRC We Make Ventures Happen_Helen McBreen

Why NDRC?

8 NDRC

Technologies-to-market timeline

Level of ‘High Touch’ from NDRC

Availability of Funding / Investment

Page 9: 20131112 NDRC We Make Ventures Happen_Helen McBreen

How do we work?

9 NDRC

HANDS-ON CAPABILITY=

Mentoring + Validation

+ Design + Engineering

+ Forming Venture Teams

+ Deep Networks

Level of ‘High Touch’ from NDRC

Page 10: 20131112 NDRC We Make Ventures Happen_Helen McBreen

How do we work?

10 NDRC

Concept forming; skills definition; customer discovery

Technology validation; customer & market validation; skills enhancing

Launch; first revenues; moving to scale

THE GAP

Page 11: 20131112 NDRC We Make Ventures Happen_Helen McBreen

How do we work?

11 NDRC

Page 12: 20131112 NDRC We Make Ventures Happen_Helen McBreen

Our History

12 NDRC

2007 2009 2013 2014

Commenced operations with a fund of €25m from the State.

First call for ‘Collaborative Translational Research (CTR)’ projects. Ireland’s first Joint-Ownership IP commercialisation agreement launched.

Launch of Ireland’s first tech accelerator, NDRC LaunchPad. NDRC Catalyser Feasibility project call launched.

2010

NDRC Inventorium launched.

2011

Smart Grid Innovation Hub launched in co-operation with EirGrid plc.

2012

NDRC Swequity Exchange pilot launched.

New fund from Irish State, bringing total State funds under management to €42.5m

NDRC VentureLab pilot launched.

Clicktailing pilot launched in partnership with the IIA.

2008

ISA Collaboration of the Year 2009 Aramark

Healthcare awards: Product Innovation 2010

ISA Academic

Collaboration Award 2010

Digital Media Awards: 2010

Best Newcomer

IIA Award 2011: Best Open Data

Initiative

IIA Award 2012: The Very Best Place to Start

Top University Business Incubators Global Benchmark 2013: NDRC ranked #1 globally for ICT

Page 13: 20131112 NDRC We Make Ventures Happen_Helen McBreen

• Keep  your  presenta-on  simple    and  to  the  point.  •   Structure  your  presenta-on    to  have  a  clear  flow.  • Know  what  you  want  to  say.    • Know  who  you  want  to  say  it  to.  • Remember:  less  is  always  more.  

Title  

13   NDRC  

The Programmes

Page 14: 20131112 NDRC We Make Ventures Happen_Helen McBreen

NDRC LaunchPad

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Digital entrepreneurs need nurturing

15   NDRC  

The biggest challenges for digital entrepreneurs:

• Breaking in to the right network • Not enough time to concentrate • No funding • The need for exposure – to customers and

investors • How to reach customers

• The need for a business model

Page 16: 20131112 NDRC We Make Ventures Happen_Helen McBreen

• Unparalleled expertise across sectors, with hands on mentoring •  12 weeks alongside a broad spectrum of

startups, innovators and investors • Peer-to-peer experiential environment • Weekly workshops and networking with

acknowledged thought leaders • Micro-seed investment of up to €20k per

venture • Opportunity to pitch to investors at Lift Off

The NDRC LaunchPad offer

16   NDRC  

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Who we’ve worked with

17   NDRC  

Page 18: 20131112 NDRC We Make Ventures Happen_Helen McBreen

NDRC VentureLab

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• Lots of science, small % is a fit for startups

• Technology Risk - Scientific proof of concept ≠ effective product

• Market Risk - Usually no validation that customers will buy the product

• Incentive Risk - Research institutions and startups often have different incentives

• Team - Hard to build world-class teams for unproven opportunities

Science commercialisation is HARD

Page 20: 20131112 NDRC We Make Ventures Happen_Helen McBreen

• Deep links with TTO, VC and entrepreneur communities

• Enough capital to give a fair runway

• Simple investor-friendly transactions and IP structure

• Intensive programme designed around: •  Team formation & leadership development

•  Market and technology validation

•  Testing business models

•  Investor readiness

• Dedicated NDRC team with experience of > 100 startups

VentureLab Changes the Game

Page 21: 20131112 NDRC We Make Ventures Happen_Helen McBreen

What does VentureLab offer?

• Investment: €100k investment, using a simple convertible loan agreement • Programme:

Pre-accelerator programme to validate an idea 6 month full-time intensive accelerator programme aimed at validating the opportunity for customers and investors

• Expertise: Work alongside the VentureLab team and expert practitioners • Cohort: Peer to peer learning as part of the VentureLab cohort over 6 month period • Network: Deep and trusted network of investors and corporate strategic partners

Page 22: 20131112 NDRC We Make Ventures Happen_Helen McBreen

• Keep  your  presenta-on  simple    and  to  the  point.  •   Structure  your  presenta-on    to  have  a  clear  flow.  • Know  what  you  want  to  say.    • Know  who  you  want  to  say  it  to.  • Remember:  less  is  always  more.  

Title  

22   NDRC  

How do we measure success?

Page 23: 20131112 NDRC We Make Ventures Happen_Helen McBreen

How do we measure success?

23 NDRC

2007 2009 2013 2014 2010 2011 2012 2008

Cumulative Market Value €

Cumulative Commercial investment €

4.8m

10.1m

5.7m

14.9m 16m

39m 32m

projected

91m projected

Ventures emerging from NDRC have created

250 new jobs

59% Ventures emerging from

NDRC have secured follow on

investment

Page 24: 20131112 NDRC We Make Ventures Happen_Helen McBreen

Investment Opportunities

24 NDRC

Ventures emerging from NDRC have created

250 new jobs

NDRC LaunchPad Visit www.ndrc.ie/launchpad Closing date 13th December Open Day 28th November at NDRC

NDRC VentureLab Visit www.ndrc.ie/venturelab Closing date end of the year

Any questions?