warwick entrepreneurship professional network - …...henry jinman alex bargate team...
TRANSCRIPT
Warwick Business School
This event is hosted by WEPN : Warwick Entrepreneurship Professional Network
Warwick Business School
Agenda 18.10 Welcome and introduction
18:15 Keynote Speech - Ben Drury, CEO, 7Digital
18.30 Pecha Kucha presentations (5 minutes each) Tom Parks, SmartPig David Linderman & Adrien Guilmineau , Tinbox Henry Jinman, Crowdfund Campus 18:45 Keynote Speech - Ian Drew, VP, ARM
19:00 Pecha Kucha presentations (5 minutes each) Joseph Djanogly, Urban Roost Stefan Van der Fluit, Nuklius
19.15 Panel Q&A
19:30 Closing remarks
19:45 Elevator pitches with Networking and refreshments
20:15 Close
Connect … Meet … Learn
For start-ups and early-stage businesses
For Alumni, students, staff & friends
Warwick Entrepreneurship
Professional Network
WEPN
Steve Hales Lead Ambassador
Connect … Meet … Learn – Some More
WEPN organises
seminars, webinars, website, LinkedIn
Warwick Entrepreneurship Professional Network - WEPN
Recent Events
Warwick Entrepreneurship Professional Network - WEPN
Monday 8th Dec 2014 Webinar / Seminar
Dragon’s Den Early stage businesses seeking
investment
Thur 20th Nov 2014 Seminar
Pecha Kucha Warwick Univ. Community
Entrepreneurs
Events for 2015
Warwick Entrepreneurship Professional Network - WEPN
• Entrepreneurs Seminar, Warwick • WEPN and Warwick Midlands Alumni
Network (May 2015) • Location - Warwick
• Entrepreneurs Seminar, London • WEPN, Technology, Finance and London
networks combining on one event • Date – tba • Location – Shard
• And more • Watch the website
Website, LinkedIn & Twitter
Warwick Entrepreneurship Professional Network - WEPN
WEPN Group on LinkedIn
WEPN on Twitter (New) Website www.wepn.warwick.ac.uk
Warwick Entrepreneurship Professional Network - WEPN
Steve Hales Sapien Innovations
Dale Campbell Inbrandgible
HenryJinman Crowdfund Campus
Raph Weninger W’k Entrepreneurs
Dimitris Servis AutoForm
Anthony Huntley PwC
Jen Young WBS
Sue Thorn WBS
John Lyon WBS
Richard Parris Intercede
Mark Payton Mercia Fund Mgmt
Committee
Kevin Mole WBS
Warwick Entrepreneurship Professional Network - WEPN
If you would like to do a 30 second elevator pitch today during part of the networking at the end see me at the end of the presentations
What Next
Warwick Entrepreneurship Professional Network - WEPN
Sign-up for up and coming events as announced • London & Warwick Seminars • Online Webinars
Join the directory on the website & join the Linkedin Group • www.wepn.warwick.ac.uk • Warwick Entrepreneurship Professional Network (LinkedIn)
Elevator Pitch Today • See me • At the end
Thank you
Warwick Entrepreneurship Professional Network - WEPN
Steve Hales Lead Ambassador, WEPN
[email protected] +44 7912 981430
Director / Partner of Sapien Companies:- http://sapien-innovations.co.uk/
http://www.sapienaccountants.com/ http://www.sapien.it/
This event is hosted by WEPN : Warwick Entrepreneurship Professional Network
Tom Parks for
WEPN: Successful Enterprise
Tom Parks
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• Co-Founder & CEO
Smart-Pig.com (2012)
• Warwick Engineering Alumni
• Warwick Entrepreneurs
• Credit Today Awards 2014
• Rockstar Best Business
Awards 2014
• >£2.5m investment, £5m
account turnover 2014
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The Smart-Pig Story
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Without a champion in this niche,
students would continue to borrow from
lenders with strong brands operating
national and online campaigns.
2011 Idea Validation
17
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Proposition
• Forward a small proportion of your next student loan forwarded
early in an emergency;
Cost
• £100 for 7 days repay £105.60, for 180 days repay £150.00
Tech
• Tied in with gov student finance info, reliable income data
What We Do
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What We Do
Objective
• Win Student Market Share from other Short Term Lenders through
a cheaper, safer, product tailored to student income.
Defence
• Without a champion in this niche, students would continue to
borrow from lenders with strong brands operating national and
online campaigns.
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What We Do
Ethics:
• No extra revenues from accounts in arrears (LPF) or rollovers (RO)
• Typical PDL revenue is 30-40-30 Loans-Rollovers-Latefees
• 50% interest cap.
• New FCA cap is 100%, 2% revenue change.
• Knocked out 80% of industry
21
What We Do
TCF Survey Dec 2014
• 83% Very helpful (45%), Helped a Bit 19%, Didn’t Think Much (19%)
• 92% Loan “helped relieve a financial stress” (or N/A)
• 93% Extremely Good (45%), Good (36%) or Satisfactory (13%)
Use of Loans %
Financial Emergency 36%
Rent Deposit Withheld, Student Loan Late 17%
No emergency just low cash 16%
Food/ other essentials 13%
Other 14%
Course Related 4%
The Plan
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Trial: 1 uni Growth: 20, 40, 80+ unis
• Repeatable
• Identify Issues
• Refine Product • Avoid Media Attention
Refine idea, continue to validate
• Friends Family Fools
• Angel: £159k Seed (£100k lending)
• Brand based lending
The Reality
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Trial: National Online Growth: no visibility
Cheap BUT:
• Can’t Identify Issues
• Can’t Refine Product
• -ve Media Attention • Poor quality traffic
Angel Changed Plans on Launch Day
• Last minute ratchet clause
• Lost key people
• Angel had no promised access to debt funding
= no funding!
Sink or Swim
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Stuck in a student bedroom with this…
…so how far have we got?
• Massive Capital Requirements;
• Complicated Industry;
• Insane competition: 200 lenders, 1000 of illegal lead gens (2013);
• Super concentrated: 3 lenders 70%, 9 lenders 90%;
• Bad practice (OFT unregulated);
• Industry Average default rates ~25% (Teletrack, 2013);
• Banking restrictions, High Risk PSPs, Rolling reserves;
• Public and media scrutiny – “The Product We Love to Hate”;
• FCA Regulation 2014
Smart-Pig Now
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Turned hard work into good luck!
• 18 months stagnation
• Removed problem investor
• Funky deal with new partner
• Reinstated original plan
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14 months later:
• Personally from 33% to 65% SHD due to outperforming ratchet.
• £2.5m investment, city & international/institutional investors.
• Other student finance products, lead in for other credit products.
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National Business, Strong Brand
Campus Tour of 4 Universities, highlighting our Terms Rent Competition. Campaign increased word of mouth effect.
Smart-Pig.com Targeting Student Bars and Clubs A University Bus with Smart-Pig.com Branding.
Boost in Social Media Engagement, Facebook, Mailchimp, Twitter
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We Want Entrepreneurs in Credit
2015 New Brands for FCL Group
Growing a Larger Credit Business
We have:
Scalable Finance
Scalable Infrastructure
FCA Licencing and Regulation
Household name partners (conf)
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Contact
+44 (0) 7846 059145
Skype: tom.parks.88
We Want Entrepreneurs in Credit
This event is hosted by WEPN : Warwick Entrepreneurship Professional Network
How do charities raise
corporate funds ?
To get the company
sustainably invest in
meaningful causes that are
in line with its business
to make sure it plays an
important role in its brand
image to consumers,
investors, suppliers..
VIDEO
WA0.17 Avon Building, University of Warwick
[email protected] | http://crowdfundcampus.com
Join the Uni crowd!
Reward
What is Crowdfunding?
Equity
Small Donation Lots of people Make things happen
What do we do?
Host projects from Warwick students, staff and alumni.
Support
Video Production and
Campaign Creation
Workshops and
Training
Campaign Consulting
and support
A connection to Alumni
Networks
www.warwickcoding.com
And we want you to come with us!
What’s #FundedOnCampus
- Create 1 Hub for Student Enterprise
- Media platform and entrepreneur stories
- Funding for student led businesses
Warwick Enterprise Partnership
Coming Soon to Crowdfund Campus
Crowdfunding your project or business
Contributing to projects from Warwick students, staff and alumni
FCA regulations for equity crowdfunding
Raising further investment ourselves
Speak to me about…
Help me with…
This event is hosted by WEPN : Warwick Entrepreneurship Professional Network
DJ VENTURES Improving young
living with:
THE PROBLEM
THE SITUATION
THE SOLUTION
PROPERTIES OF SCALE
FLATMATE ALGORITHM
BASIC
FLATSEARCH
FRAMEWORK
FACEBOOK API
DATA
PROPERTY ALGORITHM
PROGRESS
2,000 Properties
6,000 likers
£60,000 equity raised
Upcoming Funding Round
5,000 Clients
Began Trading In September 2013
Concept Christmas 2012 Wagamamas
Reincorporated.
THE TEAM
This event is hosted by WEPN : Warwick Entrepreneurship Professional Network