Startups & Venture Capital An Alternative to Suit & Tie Nicolas Wittenborn 19. February 2014 University of Mannheim,
Startups & Venture Capital: An Alternative to Suit & Tie
May 06, 2015
These are the slides for a guest lecture Nicolas gave for the entrepreneurship initiative Thinc! at the University of Mannheim on February 19, 2014.
Aimed at B.Sc / M.Sc students, the goal was to provide some background on the startup lifecycle and suggest entrepreneurship as an alternative to banking or consulting.
Aimed at B.Sc / M.Sc students, the goal was to provide some background on the startup lifecycle and suggest entrepreneurship as an alternative to banking or consulting.
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Transcript
Startups &Venture Capital
An Alternative to Suit & Tie
Zwei Mannheimer Alumnis erzählen aus der Berliner Startup WeltWann: 19.02.14 19 UhrWo: 0189Anschließendes Get2Gether mit Bier & Sekt
Nicolas Wittenborn
19. February 2014University of Mannheim,
Master
Master
Master
Flight Attendant :)
Consulting
Private Equity
Venture Capital
We sat here two years ago!
ViciNico
Graduates now in startups
:(
About me
Associate at Point Nine Capital !
I blog (a little) at heyni.co and tweet at @ncsh !
How I joined P9
Started selling iPhones online
Intern / Freelance Analyst
Joined as Associate
Point Nine Capital
• Berlin-based VC ‘Startup’ • Investing €100k-1M • In Europe & North America
The Startup Lifecycle
The Founding
The Pitch
The Exit
The Financing
The Founding
The Founding• Idea / Product
• Original idea • Copy cat
•Team • First timer • Serial entrepreneur
•Setup • Join an incubator • Do it yourself
The Pitch
The Pitch: Checklist
Slide Deck
Financial Plan
MVP or first product
First traction / Proof of Concept
…
The Pitch: CLTV vs CAC•Customer Acquisition Costs
• Acquisition cost per marketing channel (not blended) • Conversion rates
•Net profit per transaction • Average transaction volume • Profit margins
•Retention • Repeat purchases • Customer loyalty / Cohorts
The Pitch: Conversion FunnelSimple Example Ecommerce
Ad Views
Visitors
Customers
x2000
x50
x12%
2.5%
CAC = €50
CPM = €25
(CPC = €1)
The Financing
The Financing: Sources•Bootstrapping
• Financed by cashflow • Wealthy founders
•Crowd-funding • Consumer appeal / PR • Equity or non-equity
• Incubation • Ressources • Know-how & network
•Venture Capital • Angel • (Micro) VC
The Financing: Key topics•Capital Need
• Inventory • Competitive Situation
•Ownership • Valuation • Upside potential
•Timing • Right stage • Right fit
•Value-Add • Dumb or smart money • Industry / Business Model expertise
The Exit
The Exit•Trade Sale / M&A
• Acquisition by market leader • Merger with competitor
•Secondaries • SecondMarket • Taking something off the table
•Strategic investor • Distribution • Exit candidate
• IPO • Initial Public Offering • Homerun! :)
Thank you! (and don’t forget to)
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