NDRC at PorterShed Open NightBest Place To Start

Gary Leyden

Date 24.05.17

PLACEFUNDPEOPLEATTITUDE

Market Capital

2012 2013 2014 2015 2016

€39M

€120M

€220M

€334M

Follow-on-investment

2012 2013 2014 2015 2016

€16M

€40M

€88M

€126M226

680

Companies that NDRC has

invested in:

Jobs created by NDRC

portfolio companies:

€426m

€154m

36 is the average age

of NDRC founders

29% of NDRC

companies have

women in the founding

team

51% of NDRC companies

receive follow on

investment

10% of

applications to

NDRC are from

international

entrepreneurs

NDRC Startups – Some Facts

Newswhip

Joined NDRC Programmes in 2011

Announced €6m Series A Feb ‘17

Secured €8.1m funding to date

Logentries

Joined NDRC Programmes in 2010

Raised €10m Funding

Acquired €60m in Oct 15

Artomatix

Joined NDRC Programmes in 2014

Announced €2.1m funding March 17

Nuritas

Joined NDRC Programmes in 2014

Raised €8m funding to date ‘15/’16

Soundwave

Joined NDRC Programmes in 2012

Secured €2.6m funding

Acquired by Spotify Jan ‘16

Boxever

Joined NDRC Programmes in 2011

Announced €10.7m series B feb ‘16

Raised €17m funding to date

SilverCloud Health

Joined NDRC programmes in 2009

Announced €7.2m series A Jan 17’

Secured €8.9m funding to date

International

Recognition

Investors Value Us

How to buildA Startup

THEORY PRACTICE

More companies fail from a lack of customers than from a failure of productdevelopment.Focus on “who” more than ‘what”

Stages of a Startup

PROBLEM/

SOLUTION

FIT

PRODUCT/

MARKET

FIT

SCALE

PROBLEM/

SOLUTION

FIT

PRODUCT/

MARKET

FIT

SCALE

Do I have a problem worth solving?

PROBLEM/

SOLUTION

FIT

PRODUCT/

MARKET

FIT

SCALE

Have I built something that people want?

PROBLEM/

SOLUTION

FIT

PRODUCT/

MARKET

FIT

SCALE

How do I accelerate growth?

A startup is a search for a scalable, repeatable business model.

Do the right things, in the right order.

I’ve found a real, poorly-met need

facing a reachable market

I’ve figured out how to solve

the problem in a way they

will adopt & pay for

I’ve built the right

product/features/functionality that

keeps users around

The users and features fuel growth

organically & artificially

I’ve found a sustainable, scalable

business with the right margins in

a healthy ecosystem

I can achieve a successful exit for

the right terms

“Gate” Needed to

Move ForwardLean Analytics Stage

Focus on the goal – validate your idea to an extent it will attract next stage capital.

InvestmentReadiness Level

Complete First-Pass

Business Model Canvas

Market Size/Competitive

Analysis

Problem/Solution Validation

Prototype Low- Fidelity Min.

Viable Product

Validate Product/Market Fit

Validate Revenue Model

Prototype High-Fidelity Min. Viable

Product

Validate Value Delivery

Identify and Validate Metrics that

matter

1.

2.

3.

4.

5.

6.

7.

8.

9.

We invest early

It’s competitive to get in

We promote peer to peer learning

We roll upour sleeves

We focus on thebusiness model

We obsess about the customerexperience

We surround ourselves with the best mentors, entrepreneurs and investors in the country.

The Offer –• €30,000 cash investment• 3 month accelerator programme• Space at The Portershed

In return for 8% equity.

Selection Process

David Scanlon

Date 24.05.17

Key Dates

• May 29th – Deadline for Applications

• June 7th-9th – Pitches (PorterShed)

• June 19th – Offers

• July 17th – Programme Start

Selection Panel

• Head of Venture Investment NDRC

• NDRC Venture Investment Leader (x2)

• Representative from the fund’s General Partner

The Pitch

• Tell us your story…

• 10 minute Pitch

• 10 minute Q+A

• One idea per slide

The Pitch

• The Grab

• The Problem

• The Solution

• The Opportunity

• The Competitive Advantage

• The Model

• The Team

• The Reality Check

• Is the idea compelling?

The Grab

• What is the big, important problem that you

are going to solve?

The Problem

• What are you offering and to whom?

The Solution

• What is the basic market segmentation,

size, growth and dynamics?

The Opportunity

• Competitors - everyone has them, who are yours?

How are you different?

The Competitive Advantage

• How are you going to make money?

• How will you reach your customers?

The Model

• Who is on your team?

• How are your team uniquely qualified?

• What expertise is missing?

The Team

••

• What are your milestones for the next 6 - 12

months?

• What risks do you face?

The Reality Check

••

Panel Discussion• Fergal O’Connor (buymedia)

• Padraig Neylon (AddJust)

• Joanna Mulkeen (OneStepCloser.to)