LHC Communications, 7 th March 2006 Julia Maddock Press Officer.
Michael Maddock - Getting ready for angel investment
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Getting Ready for Angel Investment
How HALO Works!
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Welcome
Michael Maddock CEO, South East BIC
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South East BIC Supporting Regional Enterprise
Innovative Start-Ups
ExistingSMEs
State Agencies
What:Support the generation and development of new innovative enterprises
Assist existing enterprises to expand and innovate
Complement existing regional organisations of enterprise support
How:By providing high quality specialised business consultancy in collaboration with other local and regional organisations with a Client 1st Approach
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SEBIC’s Market
Commercialisation
CEBs
Enterprise Ireland
SEBIC
Local
Concept
National International
Global
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SEBIC Services
Concept Development
•Feasibility Studies
•Market Research
•SoundingBoard
Business Planning
•Financial Planning
•Technology & ICT
•Marketing Strategy
Incubation
•Facilities
•Infrastructure
•Support
Networking
•Introduction to financiers
•Business Consultants
•Govt. Agencies
•Entrepreneurs
•Business Angels
EU – Link
•EBN Network
•EU Projects
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Michael Maddock
Chief Executive, 35 years business experience, former EuropeanTreasurer Dell Inc, FCMA, FCT; Specialises in Corporate Finance & Strategy, Email: [email protected]
Aidan ShineAsst. CEO & Co. Secretary; 6 years in Corporate Accounting in Japan and Ireland with Alps; BBS, MBA; Specialises in Finance; Area: Waterford City and Wexford, Email:[email protected]
Carole ThurstonBusiness Consultant, 22 yrs in IT in UK and Ireland with Sears, specialist VC and Internet Start-up; Specialises in ITArea: South Tipperary and County Waterford Email:[email protected]
Rosemary WardBusiness Consultant,11 yrs Marketing & Sales experience with Waterford Crystal, btw and eircom. B. Comm (International) UCD;Specialises in Marketing Area:Kilkenny & Carlow, Email:[email protected]
Denise StonemanAdministration Co-Ordinator,Email:[email protected]
SEBIC TEAM
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Business Angels InterventionsCAPITAL NEEDS
TIME
HIGH RISK
LOW RISK
Business Angels
Formal Venture Capital
IPO
SEED START-UP EARLY GROWTH
SUSTAINED GROWTH
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Background to Halo Business Angels • Supported by EI and InterTrade Ireland
• BIC Pilot and Activity to Date
• Website http://www.businessangels.ie
Time Period Number of Deals
Angel Money Raised (Euro)
Total Other Monies
LeveragedPre-2008 10 1,015KCalendar
200813 2,285K
Calendar 2009
18 3,652K
YTD 2010 10 1,975kTotal 51 8,927K 9,805K
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Halo Business Angels Partnership• Network managed by Dublin BIC in association with the other Irish
BICs in Cork, Waterford and Galway
• Member of HBAN and EBAN networks
• HBAP has 290+ investors registered nationally
• 51 deals (17 syndicates) completed with €8.9m invested
• Further €9.8m leveraged from public and private sector
• Substantial interest with Venture Capitalists and Advisors
• Continually adding investors and companies
4th Best Angel Network in EBAN in 2009
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Halo Business Angels PartnershipBusiness Angel
• Informal private investor with smart money (finance + expertise)
• Willing to invest €25,000 to €250,000
• Willing to share their managerial skills, knowledge and networks
• No sector preference
• Often prefer to invest in their region of residence
• Seeking profit
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Siding with Angels – Nesta 2008
• Risky Business• 56% failed to return Capital• 9% 10 times capital• Overall 2.2 invested capital• Money invested 4 years - 22% ROI
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Best Practice• Entrepreneurs make best investors• Invest where you have expertise• Some Involvement - not too much• 20 Hours Due Diligence• Syndication - works best• Average - 3 years to fail, 6 years to Success• Average investment £46k for 8%
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Some Recent Local Engagements
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Local Successes • 7 Deals recently :
Angel Investment €1,025k Enterprise Ireland €650k = €1.6m
• Seedcorn and Bright Ideas Challenge
• Dragon’s Den - 3 of 4 SEBIC Clients got finance !
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Looking for Funding ?• Promoters now have an alternative place to go for financing.
• We make it easier to access private equity for your business– By evaluating your plan to make sure the information investors need is there,
– By putting your plan in front of investors
• Who are looking for investment opportunities,
• Who are interested in your particular ………? (technology, sector, location, amount range, stage of development and similar)
– By monitoring and facilitating the exchanges between you and the potential investor.
• Increased pool of private investors available to you.
• Opportunities for you to meet investors.
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The Process - Promoter• Submit an Application Form with your Business Plan
• Meeting to evaluate your plan
• We develop an 8-10 line summary with key detail and we:– Contact (some) individual investors directly by telephone/e-mail
– Notify specific investors by e-mail
– Post company summaries on website – www.businessangels.ie
• We also develop more detailed summaries (1 & 4 pages) that are available to interested investors
• We monitor investor interest and deal with questions or issues raised
• We arrange, and facilitate, initial meetings with investors & investor forums
• We keep you advised on investor interest and feedback
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In Summary We are Looking For ?• Companies
– Ambitious, growth-orientated
– Clear in what they want to do
– Good promoter / credible management
– Good business plan
• Investors– Who want to invest
– Minimum amount available to invest of €25k (minimum)
– Not looking to buy “a job”
– Need to be able to afford to lose their investment
Register with us now!Call SEBIC 051 356300
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How to contact us
South East Business & Innovation Centre Ltd.Unit 1B, Industrial Park,Cork Rd, Waterford.
Tel: (051) 356300
Web: www.sebic.ie
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