http://www.youtube.com/watch?v=esgMOdNbwxU&list=PLQKK8sN1-uH1PGB-j0gJB0A1VEew4lgif

GIST TechConnect eventSEPTEMBER 18, 2013RAISING CAPITAL FOR YOUR VENTURE

MODERATED BYOVIDIU BUJOREANSENIOR MANAGER CRDF GLOBALwww.ovibees.com@ovidiubujorean

Know your customer and their expectations.Good portfolio, 2-3 liner, 1-sheeter (exec summary),10-deck slide, short demonstration video, good demo

The first $100K is the hardest,so go for as many funding sources,business plan competitions, grants,... as possible.

AMIRALEXANDERHASSONFounder United Villageswww.linkedin.com/pub/amir-alexander-hasson/0/695/167

HOOMANRADFARFounder and ChairmanAddThis

http://www.linkedin.com/in/hooman

SHARILOESSBERGAdvisory Board MemberAccion USA

http://www.linkedin.com/pub/shari-loessberg/0/52/62b

BRADFELDManaging DirectorFoundry Group

http://www.linkedin.com/in/bfeld

COMING NEXTSALES & NETWORKING FOR YOUR VENTURENOVEMBER 18, 2013

stage of your company, market you’re going after, how your company is configured and where it is located.

Different types of investors, depending on:

Understand yourself first,

then target specific investors.

As a VC, what criteria are you using in assessingthe viability of an investment?

What should an entrepreneur look for in an investor? What motivates angel investors?

How can we protect our IP while raising capital?

The decision to boostrap or raise capital is context-specific,for both entrepreneur and investor.Foundry Group: themes, early stage, in the USTechstars: criteria are people, people, people, idea

The most active, engaged and helpful angel investorsare the ones excited to help you on your journey.

Find investors with whom youhave a personal affinity.

Investors are in the business of investing in businesses,not stealing their ideas.

Get your ideas out there.Explain it to people and get their intellectual,emotional and body language feedback.

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Understand the full range of sources of capital:government, incubators (coaching, sources of capital),understand the VC approach

What are differences in raising capital inthe US vs. internationally?Read Brad Feld’s book (Venture Deals)

Outside of the US:

Build connections with folks who can supportyou and point you to investors.

We have a rich and dense entrepreneurial ecosystem(access to capital, smart mentorship,regulatory structure, IP system).

In the US:

Is crowdsourcing for all ventures?At what point do we know that we’re ready for crowdsourcing?

It makes sense for something tangible.(feel it, touch it and understand it)

For an Internet startup outside the US,is it better to focus on the local market or globally from day one?

For larger markets, build and succeed insidebefore looking to grow.

How do we persuade internationalinvestors to invest in countrieslike Ethiopia where VCis not prominent?

Develop local sources of capital.Find the guy in the US but who’sfamily with Ethiopia motivateshim to stretch beyond hisnormal parameters.

What sort of documents or presentationsare best to convince angels to invest in a startup?

Raising capital shouldn’t be a goal in itself,

? Think about the amount, the timingand whether you need it.Less in the beginning is better.

Now is an exciting time to be an entrepreneur:crowdfunding, more channels for customer acquisition,app stores, Facebook, Twitter, Pinterest, 2B people online

What was your experience in raising capital,and lessons you learned?

Context-specific (time)

Lessons: - Know where you are in the evolution of a marketplace, and position against waves

- Investors look at the entrepreneur’s ability to adapt, grow and figure it out

- Businesses are built on people and relationships

- Passion, know your business better than anyone else, connect with people on an emotional level, show that you go the extra mile

- Have an advisory board

Do’s and don’ts of meeting with investors?Don’t ask VCs to sign an NDA. Find out what the first meeting context is.

For an Internet startup outside the US, is it better strategyto focus on the local market or globally from day one?

Figure out who you are and what your angle isin the context of the market.

How do you keep going after being turned down by an investor?

Use no’s as fuel.Behind the no might be burried the secret to a yes. Ask why no.

What sort of documents or presentations are bestto convince angels to invest in a startup?

Best source to raise money is revenuefrom your customers.

Focus on the team.No good plan survives the battlefield.

What types of investors were you able to attractand how did you involve them to help you build the ventures?

- Raise money however you can- Get outside of your box

- See what’s happening in the investment market

- Show up: events, conferences, where investors are speaking

- Corporate VC: more than money (distribution channel, services, assets)

What should an entrepreneur look at in an investor?- Have enough snowball effect going- Raise the amount of capital that is appropriate for the risk level of your venture - De-risk by proving 1-2 assumptions with $50K-$100K

Do’s and don’ts of meeting with investors?

- Don’t tell an investor about other investors that you’re talking to.

- For the first $500K, raise convertible notes or discounts/warrants for series A, not equity.

How do you keep going after being turned down by an investor?If you believe strongly enough in your idea and product,you won’t let the rejections stop you.

Can we start raising moneyfrom angel investorsand crowdfunding at the same time?

GIST TechConnect eventNOVEMBER 18, 2013SALES AND NETWORKING FOR YOUR VENTURE

OVIDIU BUJOREANSenior Manager CRDF Globalwww.ovibees.com

@ovidiubujorean

LANRE AKINOLA Editor, This is Africa (Financial Times)

http://www.linkedin.com/pub/lanre-akinola/1a/141/924

WISSAM YAFIFounder & CEO of TidWit Inc.

www.linkedin.com/pub/wissam-"will"-ya�/6/694/869

CHRIS SCHROEDERCEO-in-waiting, Former CEO of HealthCentral.com

www.linkedin.com/pub/christopher-m-schroeder/6/2b0/860

COMING NEXT

CROWDFUNDYOUR VENTUREJANUARY 29, 2014

Getting customers

Staying on Top of TrendsNetworking

Growth Communication

CompetitionEconomicslowdown

Getting investors

Provide a value-add for that customerHave something good enough,then improve it constantly

Automotive industry (Japan)

Do put thought into pricingand test it with clients

SMEs

Owner

Larger org (e.g. hospital)

Head of department

Multi-national corporation

Regional level

It depends on your target market

Stay focusedThe further you throw your ideasfrom your core, the less likely youwill be successful

Get the "lay of the land"Have a cup of coffee withfriends in organizations

"Interview" themPain pointsWho has the need (pain) ?Who are the decision makersNavigate your way in the organization

Make sharp decisions based ontiming and real dollars to close

Success breeds successPick friends who are passionateabout what you're doing

Will give good advice

Partner with or sell to organizationsthat have good brands

Will spread the word in their organizations

Technology early adopters arethought leaders and ideal in thatperiod of time

Productize the needborn organicallywithin an organization

Give before you can get

First customers

Stick early on to certain segments,learn their needs, service them welland grow within those segments

"Crossing the Chasm" book

Have empathy

Have a story to tell, not just aproduct to sell

Capture it and articulate it properlyin a fascinating way

We're always sellingDon't think of selling only tactically

People don't have the same contextas you do about the market

Think of why it matters to the groupyou're talking to

Be in serviceThey have a problem and you havea solution to solve that problem

Don't mass e-mail the media

Identify the right editors / Journalist and media

Do your researchFollow them in media (traditional and social)

Figure out what the peopleyou're targetting are interested in

Tailor your approach

Listen to them

Don't be shy

Follow-upDon't take it personal if you don't get a reply

They're too busyThe story doesn't cut it

Media helps with networkingIt amplifies your message

It can get your message to the people who need to hear it

Mass communication throughmedia channels, vs partnershipsin your network

Be careful about which socialmedia platforms you use

Build a relationshipwith the journalists

It's better to be niched

Understand what you need to achieve

Work backwards from there

Be authentic in your messageYour messageYour voice

Have something to sayGood contentMake sure it's credible

Segmentation is key ATTRACTING KEY STAKEHOLDERSWITH A COMPELLING VISION

MEDIA

CREATE TRUST

"Nobody got fired for buying IBM"

Take away the insecurity

Make them look like hero

Tie yourself to the mast

Lower your expectations of velocity of moving forward

Be more compelling in your pricing

Clarify what you want to getout of the networking

Investors?Potential clients?

Identify gaps in the market

Find people that will benefit from your serviceService themTalk with people face-to-face

Read

Don't assume that you know

Meet and talk to as many people as you can

Go to conferences, exhibitions

Ask yourself "Why is it not working?"

Constantly be pivotingDon't pivot only when the strategy goes wrongAlways be on the lookoutHave a healthy degree of paranoia

People can be veryconservative and risk-averse

Case studies

Show hardcore results

Leverage existing customers

Build strategic alliances toget a distribution networkoutside the country

Pivoting

Target in organizations

MODERATED BY PANELISTS

?Do they have

Influence?Purchasing decision?Economic decision?

...+

$Pricing

Sales is both art and science

?

Be patient

Be clear about your objectives, and the kind of people you needto achieve those objectives

TwitterFollow peopleThey'll provide you with a lot of insights

Don't spam people

Digital / social media is a tool andwill never replace the real world

Media engagement should bein your strategy from the beginning

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$

Every big fish was a small fish at some point

Every big fish that was disrupted wasdisrupted by a small fish

Worry about having awesomeness in yourproduct and getting it into people's hands

Have a compelling proposition

Build the right relationships

Prove that you're doing something uniquethat is meeting the market needs

CautionAre you about yourself (ego),or about building your company?

As a VCMostly looking at the person

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