Resources and pitch (v. 2017-2018 eng)

Resources & PitchIED, 12 December 2017

Lesson 9/2017-2018

Frieda Brioschi / Emma Tracanella frieda.brioschi@gmail.com / emma.tracanella@gmail.com

9. Resources & pitch

Course program1. Start-ups

2. Business Model & Canvas

3. Value Proposition Design

4. Customers & Market

5. Activities & Costs

6. Legal basics

7. Start-up in Italy & ecosystems

8. Design & planning

–James Altucher

“Everyone is an entrepreneur. The only skills you need to be an entrepreneur: an ability to fail, an ability to have ideas, to sell those ideas, to execute on those ideas, and to be persistent so even as you fail you learn and

move onto the next adventure. ”

–Henry Ford

“Coming together is a beginning, keeping together is progress;

working together is success”

Help needed!

Resources

Useful on/off line resources

• Hangouts and events • Co-working, Fablabs, Makerspace, social incubators • Community leaders • Media • Business Plan competition, startup events • Incubators and accelerators • Investors, etc.

7http://www.chefuturo.it/2013/01/i-primi-100-contatti-e-anche-di-piu-per-chi-vuole-fare-startup-in-italia/

Coworking (by Mattia Leoni)

9. Resources & pitch9

COWORKING

WHAT ISCOWORKING?

Coworking is a style of work that involves individual workers such as freelancers in a shared working environment.

This is a new way to face the world of work that brings a social and cultural revolution as well as an economical change.

There are two main reasons that allowed coworking to develop and grow:

• No more fixed costs of owning an office.

• Opportunities to create a social work experience, a community where you can identify yourself, where everybody can share knowledge and skills.

ORIGIN &DEVELOPMENT

In 1999 Brian DeKoven used the word “coworking” to identify a new way of working, as he realized that people and enterprises aimed to develop a peer to peer working place.

His method wanted to promote collaborative work, where projects could be developed without facing too much internal competition.

COWORKINGSPACES

In 2005, Brad Neuberg, a programmer from California, decided to create the San Francisco Coworking Space, a place where people could share services and connections with freelancers who could not afford renting their own office space.

From 2006 to 2012 coworking spaces had nearly doubled each year and the movement had become very popular.

In 2007 the term “coworking” was seen as trending on Google Trends.

By the end of 2008, there were about 160 coworking spaces worldwide.

2011 also saw the first large companies begin to experiment with their own coworking spaces. Companies like TUI, Europe’s largest tourism association, and ING Bank, began to approach the idea of coworking.

Coworking is a phenomenon in constant growth, and every year brings together new people, new challenges and new ideas.

WHY SHOULDI COWORK?

Working from home can be isolating and coffee shops can be distracting.

The are a lot of resources such as inexpensive office space, free WiFi connection, fax and printers, conference rooms, kitchen and snack-prep areas.

You’re surrounded by a ton of passionate people going for a dream.

Your motivation increase.

The value of coworking is in the relationships, far more than the resources.

In just a short amount of time, you have a network of people that you can instantly ask advice from/on anything.

In the coworking environment, we’re all very protective of each other. There’s a lot of support because we’re all in the same boat.

Not only are you around other inspiring independent business owners, but you could be rubbing elbows with your next investor, your future partner or your board of advisors.

There’s a lot of potential when you join the tribe of coworkers in your community.

Coworking can introduce you to people who have the answers that you may be looking for.

Coworking it’s much more than resources and a place to do business.

It’s a community, and it’s the future of how business is going to be done.

Coworking it’s much more than resources and a place to do business.

It’s a community, and it’s the future of how business is going to be done.

Incubators

Business incubators are programs designed to support the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts.

Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve.

http://en.wikipedia.org/wiki/Business_incubator

Incubator’s services• Help with business basics

• Networking activities

• Marketing assistance

• High-speed Internet access

• Help with accounting/financial management

• Access to bank loans

26http://en.wikipedia.org/wiki/Business_incubator

• Help with presentation skills

• Links to higher education resources

• Links to strategic partners

• Access to angel investors or venture capital

• Advisory boards and mentors

• Management team identification

Certified incubators

Startup Regulation introduces “certified incubators for innovative start-ups”.

The start-up incubator or accelerator must verify if specific requirements concerning the start-up’s physical structures, management, facilities and, above all, its track record, are fulfilled. In this way, the law aims to identify the structures that are able to offer efficient incubation services in Italy. Certified incubators can benefit from some instruments provided for by the law.

27http://bit.ly/11f2mtq

Public incubators

Are supported by public sponsors and are non-profit. Usually public authorities are the major stakeholders and play an important part in the definition of the legal status of the incubators and in their management, frequently supported by a broadly-based partnership of public authorities and institutions such as a Chamber of Commerce, Municipality, Province, Region, Banking Institutions, and various business associations. Typically, they are multi-purpose and the activities of their occupants span all the traditional-economy business sectors as well as some hi-tech ones.

http://www.rivistapolitecnico.polimi.it/rivista/politecnico_rivista_9.18.pdf

University incubators

They usually concentrate on promoting hi-tech start-ups developed by their students, researchers and professors. Their objective is to foster the industrial applications of the knowledge generated through academic research activities.

They have a strong connection with research labs and are often focused on the area in which the founder university specializes.

29http://www.rivistapolitecnico.polimi.it/rivista/politecnico_rivista_9.18.pdf

Private incubators

Are usually profit-making. The number and type of organizations making up private incubator partnerships varies from individuals to groups consisting of several private companies and organizations.

Most of these incubators invest almost exclusively in one business sector.

They contribute to the success of the start-ups in several ways, including the availability of specialized professionals who work with the start-ups own staff.

30http://www.rivistapolitecnico.polimi.it/rivista/politecnico_rivista_9.18.pdf

Seed accelerators• Seed accelerators are a modern, for-profit type of

startup incubator, with an open application process, taking in classes of startups consisting of small teams, supporting them with funding, mentoring, training and events for a definite period (usually three months), in exchange for equity.

• While traditional business incubators are often government-funded, generally take no equity, and focus on biotech, medical technology, clean tech or product-centric companies, accelerators are privately funded and focused on mobile/Internet startups.

http://en.wikipedia.org/wiki/Seed_accelerator

Fab Lab

A fab lab (fabrication laboratory) is a small-scale workshop offering (personal) digital fabrication.

A fab lab is generally equipped with an array of flexible computer controlled tools that cover several different length scales and various materials, with the aim to make "almost anything". This includes technology-enabled products generally perceived as limited to mass production.

32http://en.wikipedia.org/wiki/Fab_lab

Networking

Startup Saturday

http://www.startupsaturday.it/

Many opportunities:

• Workshop

• Elevator Pitch Competition

• Idea Jam Session

• Speed Pitch Date

• Startup Outing

• Job Posting

Italian Startup Scene (ISS)

Facebook group for italian startupper, entrepreneurs, investors, bloggers, developers and anyone interested in start-ups and venture capital.

36http://it.startupscene.org/

TechGarage

It’s an italian association which aims to connect • Grassroot innovation • business angel, seed funds and independent venture capital • companies

37http://techgarage.eu/

Show & Tell

Investors don’t invest in businesses. They invest in stories about

businesses.

You can tell a story in a sentence; you can tell a story in a paragraph; and you

can tell a story in a 20-minute pitch.

Startups need to do all three ones.

9. Resources & pitchhttp://mindyourpitch.com/blog/what-is-an-elevator-pitch/

What is an elevator pitch?

A (very) short speech.

http://www.ninjamarketing.it/2011/10/25/lelevator-pitch-larte-di-comunicare-unidea-in-modo-efficace-e-in-pochi-secondi/

Basics

1. Be short (less is more!)

2. Wow effect (6-10 seconds to generate curiosity)

3. Who (add some info about you)

4. KISS

9. Resources & pitchhttp://elevatorpitchessentials.com/essays/ElevatorPitch.html

The nine C's of an effective elevator pitch

1. Concise

2. Clear

3. Compelling

4. Credible

5. Conceptual

6. Concrete

7. Customized

8. Consistent

9. Conversational

http://www.businessknowhow.com/money/elevator.htm

Six question you must answer

1. What is your product or service?

2. Which is your market?

3. What is your revenue model?

4. Who is behind the company?

5. Who is your competition?

6. What is your competitive advantage?

9. Resources & pitch46 http://guykawasaki.com/books/the-art-of-the-start/

Speaking• Speak slowly and enunciate

• Be excited. Your pitch should not sound memorized. Intonation, cadence, and projecting help a lot

• Be specific and concise

• Look at the audience. You don't have to make eye contact with individuals, just with areas of the crowd. People in those areas will think you've made eye contact with them

• Actually explain what you do, and be essential. Avoid unnecessary details, or repeating the same thing twice

• Don't hide the big good things because you are modest, highlight them specifically early on

• Use natural language and simple sentences, i.e. no sentences with three verbs. Don’t use words you wouldn't use in normal conversation

60 http://www.aaronkharris.com/advice-on-pitching

Charts & Metrics• Charts should be easy to understand, make one point with any graphic

or chart. Don't make people read charts, they'll stop listening to you!

• If you put up a graph that confuses people, they will feel stupid and stop listening

• Line graphs are better than bar graphs when showing growth

• Label your axes and use real numbers - even if they are small. The shape of the graph matters, not the absolute numbers

• Explain anomalies

• If you should be generating revenue and then show a different metric, investors will be suspicious. Be consistent

Slides• Titles should describe the slide. Titles should be such that, if you

remove everything else, the slide would still make sense.

• Remember that minds wander, and people check phones. When they look up, they should immediately be able to pick up the thread

• Don't use pretty, but thin, fonts. Make sure your slides are legible from far away. The purpose of a font is not to show them that you’re a designer, but to make it easy to read things.

• Screenshot slides are typically bad

• Don’t look at the screen where slides are projected. If you can, make sure that you can look at the audience, and at your laptop, without turning your head in the opposite direction.

More• Remove obstacles between you and the audience. Sometimes putting the

laptop on a chair helps, because it clears the space between you and the audience and helps you connect with them better.

• Be prepared for disaster. Your laptop might not show the slides; the resolution might be wrong; there might be several reasons why it won’t work. Print 5–6 copies of your slides to pass them around if needed — you can keep one copy while you present, if it helps.

• Colors should go nicely together. You don’t need to learn the theory, just pick a color scheme and stick to it. Make also sure that the color scheme allows for very readable slides.

• Slides can be used as a guide and a reference, but you should know your story well. Don’t let the slides be your guide. Use them simply as support.

https://medium.com/@simon/some-humble-advice-on-pitching-your-startup-bf09fa5bffaf#.u3z2rqxyt

Resources and pitch (v. 2017-2018 eng)

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