Funding Your Startup

Banking, Remittance, Casino

Who are Masabi? Masabi build mobile ticketing solutions

Founded 2002 Award winning and certified security Ticket sales and delivery from mobile handsets

Projects:

Mobile tickets for:Developed the

UK’s RSP6 barcode ticketing

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Technology Warning!

Just because new technology can do something –

Does not mean that customers will adopt it

Does not mean that companies will make money from it

Do Users Like “new”?Normal people only try a new technology to do something…

…if the old way of doing it is painful enough to make them try.

At that moment: offer them a better way.

Funding your startup

Funding Sources – USA!

1.Write Biz Plan2.Get Venture

Capitalist3.IPO

4.Buymegayacht!

Monetisation Strategy?

Biz Plan

Business case How you and your partners make money

User case Why people will change to use your stuff

Route to market Ads? Partners? Not just “Social Media”

Team Most important factor for success

DE-RISK everything for the investor to get funding today.

Funding SourcesSofter

Day-job or your own savings Consultancy -> Product 1st customer or trade investor GRANTS (great if you qualify, but...) Bank Loans (EU backed?) Angel Funding / High Net Worth

Hard core Venture Capitalists (finally biting again) IPO (currently dead)

Masabi Story – 8 years!

1. Spent our own money

2. Consultancy to pay the bills

3. Re-invested, focussed, leaner/meaner

4. Worked for free to establish position

5. Angel funding to ditch consultancy

6. Now – VC funding to nail opportunity

Business Case, User Case

People will only try new technology to perform a regular activity…

…if the old way is painful enough to make them try something new.

At that moment offer them a better way.

Ben Whitakerben@masabi.com+44 7788 895894