launching a startup v2
TRANSCRIPT
Launchinga start-up
in Germany /How to get VC funding
Monte Miersch
Baku, 28.03.2009
MIKESTAR.com
MIKESTAR is transporting the Social Gaming Trend Karaoke from the consoles world into the Web.
Product description:
Users can select from hundreds of songs, play them in a web browser and record their own performance.
Recordings can be shared with the community. Furthermore MIKESTAR contains a contest area, in which users can mess in singing against each other.
Online-Karaoke as killer application in growth market of „Casual Games“
SCEE
Market potential
Research Bravo, 2007
How to earn money
Four strong revenue streams assure sustainability
Personality of founders!
Innovation / Strategic competitive advantage
USPs
High potential to grow
Market barriers for competitors
Usage for customers
Realistic approach and plausibility
Exit story
Risk profile
Investment criterias
Consulting for VC funding
Get them on board, as BA maybe
Networking
Barcamps and more
Talk! Talk! Talk!
Get help
Don‘t do everything on your own
Financing
BUSINESS ANGELS
VENTURE CAPITAL
PUBLIC LOAN PROGRAMS
INDUSTRY
1. Crash of Stock Markets Company valuations are going down Less exit channels
2. Overestimation of traffic importance / ad revenues Forecasting too high last months / years
3. Stronger selection Only the best are chosen But still copycats with proofed models Transaction-based! business models
Current situation
Start early!
You have to and SHOULD talk to many investors Decide wisely Don‘t look only on the money
Raise as much money as possible at the beginning
Especially these days
General stuff
Investors will let you wait to get best out of the deal
Example from Germany
Volume: 270 Mio. EUR
Investors: Germany, KfW, BASF, Telekom, Siemens etc.
Focus: Innovative High-Tech companies within seed phase
Investments: Up to 500 TEUR per company
plus: financial engagement from founders required
and from at least one additional investor / BA
Coaching: Hands-on-Support by a coach
Innovative Technology Topics
R&D-based companies with „incubated technology“
„small company“ in the sense of the EU, located in Germany
Not older than a year
Technology Know-how from founders
Seed financing enough for at least proof of concept or prototype
HTGF Target Group
Investment decision
Process of Selecting
VCs proof concept, market, technology etc.
Help them! Show your strengths Don‘t hide weaknesses – explain how to reduce Ask other invests to share experience
Letter of Intent
Definition of time period and content
Investor is your friend, not your enemy
Due diligence
Once again: Talk!
Management Team Focused Goals Budgeting Documentation
IT
Processes
Legal Due Diligence Market / Commercial Due Diligence
Due diligence
Have at least a fall back solution
due diligence
Contact
MIKESTAR GmbHGluckstr. 53a22081 HamburgGermany
Monte A. [email protected] +49 40 7930 4352M +49 171 9988 198