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Learnings from our US trip
Saturday, 25 May 13
1/25CONFIDENTIALCONFIDENTIAL
The Seedcamp program
2
Saturday, 25 May 13
Quarterly onboarding
Setting the scene and focusing on product
Monthly learning days
Focused topics - some of the best speakers and mentors
The Seedcamp US trip
Twice per year - 3 weeks
Ongoing support
Through o鍖ce hours, dashboard.io, and the EIR program
3
Year-round program for startups
Saturday, 25 May 13
Our 5th US trip - Feb & March 2013
4
New York
Boston
San Francisco
Silicon Valley
Austin / SXSW
Saturday, 25 May 13
Things we do on the US trip
Connect
- Seedcamp Events
- Local Meetups
- O鍖ce Visits
Fundraise
- Angels and VCs at our events
- Pitch sessions at VC o鍖ces
Learn
- Masterclasses
- Platform Sessions
5
Saturday, 25 May 13
Who we meet
NYC Boston San Fran Valley
6
Saturday, 25 May 13
1/25CONFIDENTIALCONFIDENTIAL
Learnings from the US trip
for investors
7
Saturday, 25 May 13
1/25CONFIDENTIALCONFIDENTIAL
What are local di鍖erences?
8
Saturday, 25 May 13
Open to European companies
Zemanta, Campalyst, Checkthis, Teleportd, ERPLY
Emerging as an engineering hub
Etsy, Tumblr, Google engineering, Foursquare, 10gen
Very theme driven investors
USV with large networks thesis, Lerer with local approach, iA
with data approach, Betaworks as a local company builder
9
New York
Saturday, 25 May 13
Love European companies
UberVU, Codeship, GrabCAD, Psykopaint
Very active early stage investors
NextView, Atlas, Flybridge, Spark, Matrix
Big Data is big
hack/reduce space, proximity to MIT, strong research teams,
lots of spin outs
10
Boston
Saturday, 25 May 13
You need to get local
Incredible early stage activity
VCs very active in early stage
All big VCs have a seed program - lots of party rounds
Ecommerce, payment, SaaS are in
More transactional business models, consumer/app startups
need serious traction, network lock in a must
11
San Francisco/Valley
Saturday, 25 May 13
Go & have fun
Dont expect to do much business.
12
SXSW
Saturday, 25 May 13
1/25CONFIDENTIALCONFIDENTIAL
Trends across the US venture/
startup ecosystem
13
Saturday, 25 May 13
14
The war for talent
A LOT of intercompany exchange
Crazy salaries and bene鍖ts.
Acqui hires are the usual outcome
This makes a lot of the angel funds work out well
Its easier to raise seed & exit
than to be rich with a job at Google. Thats why Im a founder
Saturday, 25 May 13
Facebook, Twitter, Google
All focus on in app installs. Massive revenue driver
15
Mobile app advertising & distribution
Saturday, 25 May 13
Facebook
Growing up post-IPO - scaling platform and international
Microsoft
Reinventing products and the company - a strong e鍖ort
Google
Actively seeking out massive new markets - Cars, Glass, X and Y
Twitter
Growing into a networked media company of the future
16
A di鍖erent corporate approach
Saturday, 25 May 13
10 million users for Series A
Chris Dixon, A16Z
Massive early stage rounds
Result in skewed market
Tough competition for underfunded
Europeans
17
Be born with traction
Saturday, 25 May 13
Very operational investors
As a result of early cash out and IPOs
Wide variety of deal鍖ow
This makes a lot of the angel funds work well
This is not yet happening in Europe
Mostly because of less operationally experienced investors
18
Theme focused early stage funds
Saturday, 25 May 13
More operational partners
Lots of ex founders in VC 鍖rms
Huge support teams
A16Z has 60+ sta鍖. Lots of other funds are following.
Help: Hiring engineers, Build product, Go to market, Scale
Its a sellers market
Strong positioning and clear value add are key for funds
19
Everybody wants to be A16Z
Saturday, 25 May 13
A function of massive seed activity
Accelerators, active angels, and lower costs
Not enough traction for series A
Bridge rounds and top ups on convertible notes
More money than ever
Especially in network-dependent startups, winners are decided
early
20
The Series A Crunch
Saturday, 25 May 13
1/25CONFIDENTIALCONFIDENTIAL
Take aways
21
Saturday, 25 May 13
Get inspired and motivated
to build a world beating company
Raise with the best investors
But you need serious traction and validation
Build bridges and connect
To the big tech companies, investors, and startups
22
Take aways
Saturday, 25 May 13
Ad

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Learnings from the Seedcamp US trip

  • 1. Learnings from our US trip Saturday, 25 May 13
  • 3. Quarterly onboarding Setting the scene and focusing on product Monthly learning days Focused topics - some of the best speakers and mentors The Seedcamp US trip Twice per year - 3 weeks Ongoing support Through o鍖ce hours, dashboard.io, and the EIR program 3 Year-round program for startups Saturday, 25 May 13
  • 4. Our 5th US trip - Feb & March 2013 4 New York Boston San Francisco Silicon Valley Austin / SXSW Saturday, 25 May 13
  • 5. Things we do on the US trip Connect - Seedcamp Events - Local Meetups - O鍖ce Visits Fundraise - Angels and VCs at our events - Pitch sessions at VC o鍖ces Learn - Masterclasses - Platform Sessions 5 Saturday, 25 May 13
  • 6. Who we meet NYC Boston San Fran Valley 6 Saturday, 25 May 13
  • 7. 1/25CONFIDENTIALCONFIDENTIAL Learnings from the US trip for investors 7 Saturday, 25 May 13
  • 8. 1/25CONFIDENTIALCONFIDENTIAL What are local di鍖erences? 8 Saturday, 25 May 13
  • 9. Open to European companies Zemanta, Campalyst, Checkthis, Teleportd, ERPLY Emerging as an engineering hub Etsy, Tumblr, Google engineering, Foursquare, 10gen Very theme driven investors USV with large networks thesis, Lerer with local approach, iA with data approach, Betaworks as a local company builder 9 New York Saturday, 25 May 13
  • 10. Love European companies UberVU, Codeship, GrabCAD, Psykopaint Very active early stage investors NextView, Atlas, Flybridge, Spark, Matrix Big Data is big hack/reduce space, proximity to MIT, strong research teams, lots of spin outs 10 Boston Saturday, 25 May 13
  • 11. You need to get local Incredible early stage activity VCs very active in early stage All big VCs have a seed program - lots of party rounds Ecommerce, payment, SaaS are in More transactional business models, consumer/app startups need serious traction, network lock in a must 11 San Francisco/Valley Saturday, 25 May 13
  • 12. Go & have fun Dont expect to do much business. 12 SXSW Saturday, 25 May 13
  • 13. 1/25CONFIDENTIALCONFIDENTIAL Trends across the US venture/ startup ecosystem 13 Saturday, 25 May 13
  • 14. 14 The war for talent A LOT of intercompany exchange Crazy salaries and bene鍖ts. Acqui hires are the usual outcome This makes a lot of the angel funds work out well Its easier to raise seed & exit than to be rich with a job at Google. Thats why Im a founder Saturday, 25 May 13
  • 15. Facebook, Twitter, Google All focus on in app installs. Massive revenue driver 15 Mobile app advertising & distribution Saturday, 25 May 13
  • 16. Facebook Growing up post-IPO - scaling platform and international Microsoft Reinventing products and the company - a strong e鍖ort Google Actively seeking out massive new markets - Cars, Glass, X and Y Twitter Growing into a networked media company of the future 16 A di鍖erent corporate approach Saturday, 25 May 13
  • 17. 10 million users for Series A Chris Dixon, A16Z Massive early stage rounds Result in skewed market Tough competition for underfunded Europeans 17 Be born with traction Saturday, 25 May 13
  • 18. Very operational investors As a result of early cash out and IPOs Wide variety of deal鍖ow This makes a lot of the angel funds work well This is not yet happening in Europe Mostly because of less operationally experienced investors 18 Theme focused early stage funds Saturday, 25 May 13
  • 19. More operational partners Lots of ex founders in VC 鍖rms Huge support teams A16Z has 60+ sta鍖. Lots of other funds are following. Help: Hiring engineers, Build product, Go to market, Scale Its a sellers market Strong positioning and clear value add are key for funds 19 Everybody wants to be A16Z Saturday, 25 May 13
  • 20. A function of massive seed activity Accelerators, active angels, and lower costs Not enough traction for series A Bridge rounds and top ups on convertible notes More money than ever Especially in network-dependent startups, winners are decided early 20 The Series A Crunch Saturday, 25 May 13
  • 22. Get inspired and motivated to build a world beating company Raise with the best investors But you need serious traction and validation Build bridges and connect To the big tech companies, investors, and startups 22 Take aways Saturday, 25 May 13