Funding, Financing and Investment - Engines of Startup Growth? Antonio José Junqueira Botelho PhD Professor Titular / Coordenador do Programa de Pós-Graduação em Ciência Política e Relações Internacionais / Coordenador do Laboratório de Estudos em Ciência, Tecnologia, Inovação & Sociedade LECTIS, Instituto Universitário de Pesquisas do Rio de Janeiro - Iuperj / UCAM Presidente do Conselho Diretor, Gávea Angels 3ª Conferência Consórcio Internacional de Estudos sobre Inovação e Empreendedorismo:Políticas e Recursos de Apoio ao Empreendedorismo Mesa 3: Startups: Funding and Financing /Investimento e Financiamento de Startups Rio de Janeiro, 21 de novembro de 2013
22
Embed
Funding, Financing and Investment - Engines of Startup … Botelho IUPERJ.pdf · Source: Jeffrey E. Sohl, Center for Venture Research and 2010 NVCA Yearbook . ACA Members and Innovative
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Funding, Financing and
Investment - Engines of
Startup Growth? Antonio José Junqueira Botelho PhD Professor Titular / Coordenador do Programa de Pós-Graduação em Ciência Política e Relações Internacionais / Coordenador do Laboratório de Estudos em Ciência, Tecnologia, Inovação & Sociedade LECTIS, Instituto Universitário de Pesquisas do Rio de Janeiro - Iuperj / UCAM Presidente do Conselho Diretor, Gávea Angels
3ª Conferência Consórcio Internacional de Estudos sobre Inovação e Empreendedorismo:Políticas e Recursos de Apoio ao Empreendedorismo
Mesa 3: Startups: Funding and Financing /Investimento e Financiamento de Startups
Rio de Janeiro, 21 de novembro de 2013
1. Funding, Financing and Investment
2. Startup Growth
3. Context
4. Funding & Financing in Brazil
5. Engines of Startup Growth?
Agenda
1. Funding, Financing and Investment
1. Funding, Financing and Investment
2. Startup Growth
3. Context
4. Funding & Financing in Brazil
Agenda
5
0.0
0.5
1.0
0 0.5 1
Market
Tech
nolo
gy
Existing New
Exi
stin
g
Evolutionary
businesses
]
Leverage base
Market
Discontinuity
Creative
Destruction
IBM PC
Digital Cameras DVD
Automobiles Electronics Cameras
MRI Cell-phone
Uncertainty is the measure of of the array of potetial outcomes for a company or a project Asymmetric information – moral hazard / adverse selection Nature of firm assets – tangible / intangible Market conditions – different supply and cost of capital-public vs private / nature of product market shifts
Gomper’s Entrepreneurial Financing 4 Factors for assessing startup financing
• People – key players / experienceopporunity / s & w / add-remove
Gávea Angels Estimated number of active angels:500 Gávea Angels Estimated number of potential angels: 10,000
Latin America
Pais Número de redes
(año 1a red)
Inversionistas
ángeles en las redes
Inversiones Valor (US$
milliones)
Argentina 3(2006) 150 25 3.5
Bolivia 1(2008) nd 1 nd
Brasil 4 (2002) 88 9 1.1
Chile 7(2004) 127 30 9
Colombia 2(2010) +3 93 6 0.5
México 3(2009) 100 8 8.2
Panamá 1(2009) 26 3 nd
Perú 2(2009) 24 6 nd
Dominicana 1(2008) 57 (20) 0.270 nd
Venezuela 2(2000) 20 22 nd
Uruguay 1(2006) 26 5 nd
1. Engines of Startup Growth?
21
• Global distribution of VC (2012): top 5 regions represent 52% of $42.3 billion in global VC investments: SV, New England, S. Calif, Ny Metro UK…. followed by Beijing , Germany, Israel…NO LA country or region
• How to?
– Entrepreneurial communities, Brad Feld’s network bottom-up model
– Beijing innovation cluster state leverage, large market autarkic model
– Israel military-entrepreneurial model: competences spillover and skillful incentives