debrecen startup week
TRANSCRIPT
Üzlet és tervezés
Hild Imre
Quick intro
2004-2008 Built two companies ($120 and $80M market cap)2009-2010 Entrepreneur in Residence at a Venture Fund2011-2015 iCatapult - HUF 140M invested into 4 startups2011 - Mentor for Seedcamp, StartupBootcamp, Pioneers2011 - Hungarian Venture Capital Association2013 - 1st Central European Startup Roadshow in New York City2014 - Hungarian Innovation Federation2015 - MIT Venture Lab Mentor2015 - Digital Factory Contributing Partner - 200M into 12 startups2015 - Global Platforms - Business Dev. for 8 startup/scaleups
Magyar Innovációs SzövetségStartup Kultúra Közösség
9 tagú panel
SELF TEST
+ Frequency of ‘in my opinion’ or ‘I’m sure..’
+ Frequency of asking follow up questions
+ Frequency of asking questions
+ Arguments based on facts versus beliefs
+ Willingness to talk about project (without asking)
STARTUP PIRATES
+ Willingness to communicate proactively (e-mail etc).
Purpose of a startup
+ NOT to compete in competitions
+ NOT to convince investors
+ NOT to be on the cover of magazines
+ NOT to ‘come up with an idea’
+ NOT to create something that no one wants, even for free...
STARTUP PIRATES
A Startup exists to create value for the largest possible group of clients or consumers in a repeatable and profitable business model.
What do you need for a venture?
2016 November
+ 1. Money - Entrepreneur
+
2. Company - Market understanding >> Problem + Solution+
3. Idea - Co-founder and team
+ 4. Prototype (testing, testing, testing)
+
+
5. Product Market Fit
6. Business and Distribution model
+ 7. Capital to grow
Startup Pirates
Startup Operations – Running a gig
5/2/14
Idea FundingProduct
development
Sales
Startup Operations – Running a gig
Idea Funding Product dev. Sales
VALUE OF AN IDEA….
Startup Pirates
Startup Operations – Running a gig – for success
5/2/14
Market opp.
identification
Prototype a solution
Test and iterate
Fund Scaling
The Lean Method
11/21/14
+ Testing your initial Hypotheses – keep them or pivot
+ Collective Wisdom of your Customers
+ Get out of the building
STARTUP PIRATES
Lean canvas
VALUE PROPOSITION
• Value is material, emotional or abstract benefit to user or client
VALUE PROPOSITION
• Value is material, emotional or abstract benefit to user or client
There are 3 important activities for an
entrepreneur/startup:
ASK
LISTEN
LEARN
Most entrepreneurs accept limits, either made by others or set by themselves
Continuous Self-test
Is it a fact or an assumption…?
John and the Mayor
The Mayor of the city has a brother called John.John says the he has no brother.
Who is not telling the truth?
John
Where are all the successful startups…?
An experiment on 200 startups
High Mobile adoption
Carriers could support it
Software (app) protection
Fast Technology
Need for Information
PERFECT TIMING
International funding trends
Traditional Investing
In the beginning
Startup Investing
Terms of a startup investment
KEY FOR THE INVESTOROwnership share
Control (veto)Exit options
Incentives for entrepreneurESOP
KEY FOR ENTREPRENEUROwnership share
Control (management flip)Investor’s (anti)-dilution clauses
Vesting
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Contact and more info
www.imrehild.com
LinkedIn: hu.linkedin.com/in/hildimre/
https://www.facebook.com/groups/startupkultura/
This presentation available at:
http://www.slideshare.net/hildimre