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www.ecorl.it
.Y U N US 'l)' s o c i a l b u s i n e s s
BALKANS
START UP funding
Erasmus Plus ECORL Project
www.ecorl.it
+ - • Fundraising can be costly and
• More money can amplify the success
• More money speeds up results
• Leveraging power contacts and influences
• Capital is cri:cal for staying afloat
• Brand and visibility benefits
• Grow bigger and faster
www.ecorl.it
8me consuming
• Giving up control
• Burden of owning others
• Too much money destroys founders’ rela8onships
• Pressure to water down or detour from your plans
• Can become destructed by addi8onal demands
• Profits dilu8on
www.ecorl.it
• Financing:
– To build your dream into reality , or
– To speed up the machine
Fundraise to reach the next milestone or round of funding
www.ecorl.it
Most startup are dead before they get here
Customer Discovery Customer Valida8on Customer Crea8on
www.ecorl.it
Best 8me to raise money from outside investors
Customer Discovery Customer Valida8on Customer Crea8on
www.ecorl.it
• Lean to love rejec:on
• Love learning from rejec:on
• Rejec:on is awakening even though is a rude one
• New types of rejec:ons mean you’re making progress
www.ecorl.it
• Fundraising is not as easy as readings in TechChrunch
• Needs right mindset and expecta:ons
• Give yourself about 18-24 months of nurturing
www.ecorl.it
• Idea conceptualiza:on
• Market research
• Planning your business
• Tes:ng the market waters
• Finding strong cofounders
• Building a board and network of supporters
• Prototypes and beta testing
• Launch of MVP expanding early adopters/users
• Gaining some trac:on and revenues
• Proof demand and potential for scale
• Clarify you breakeven point
www.ecorl.it
• Know what investors want and give them the right signals
• What they want varies widely from one to the other
• What for sure they don’t want is: – To lose money
– To be made to look foolish
www.ecorl.it
1. A well thought and researched idea and plan 2. Organiza:on (a good team) 3. Integrity of character 4. Answers to obvious questions 5. You know what you don’t know and have a plan to get it 6. Market poten:al 7. Proof of demand 8. You have passion and have put your heat in it 9. You have and will keep skin in the game 10. Feedback from others 11. They can get along with you – a good match 12. You are coachable 13. Safety of their capital and time
www.ecorl.it
14. Passion for your product of service 15. An opportunity to help them get closer to their goal
www.ecorl.it
Profits
Break Even
Losses
Idea stage Early Stage Later stage Expansion Stage
Design Stage
Seed Stage
Start-up Stage
www.ecorl.it
Private Equity Investment Bank
Private Equity Grants Loans VC/CVC
• Contest & grants • Accelerators &
Incubators • Crowdfunding • Business Angels • Sod loans • Strategic Investors • VC/CVC
• Own savings • Overdrads • FFF • Grants & contests • Government • Accelerators &
Incubators • Crowdfunding • Business Angels
• Own savings • Overdrads • FFF • Accelerators &
Incubators
www.ecorl.it
• Product presales
• Trade equity or services for startup help
• Ren:ng out your assets
• Revenue-based financing
• Factoring/invoice advances
• …
www.ecorl.it
A strong team of entrepreneurs
… are strongly commiLed
… have inside & out knowledge
… have a workable plan
Real market opportunity & impact
… problem/solu8on & product/market fit
… sustainable advantages
… profitability