High Potential Start-upsand Competitive Start Fund

14th October 2013

2

2

1 High Potential Start-ups

Supports from Enterprise Ireland

Agenda

What I Will CoverWhat we will cover

2

1

3 Competitive Start Fund

Projects we invest in

EligibleManufacture or internationally tradable serviceManagement control in Ireland

High PotentialUsually based on technological innovationExport oriented10 employees within 3/4 yrs, Sales > €1m

Start-up Island

900

300

150

100

Challenge of Scaling

4.1 Years

Achieved by 45%

6.8 Years

Achieved by 16%

7.2 Years

Achieved by 8%

8.1 years

Achieved by 4%

9.4 Years

Achieved by 1.3%

> €1m

> €5m

> €10m

>€20m

> €50m

REVENUES

EI AssistanceThe support you can get from us depends on

where you are.

1.Validating the Business Idea

2.Get to Investor Readiness• Build Business Plan

3.Raising First Investment

4.Growing the Business

We’re a Development

Agency

Validating the Business Idea

Incubators (Dublin)• NDRC Launchpad • Dogpatch • Wayra • Propellor • Nova UCD, TCD campus

program; • Ustart [DCU accelerator] • Dundalk Smart Start • Greenhouse [virtual incubator] • Foodworks • HealthXL Startup Bootcamp• Guinness Enterprise Centre

Business Innovation CentresBusiness Innovation Centres

InternetInternet

Entrepreneur Support Groups•Thousand Seeds•Entrepreneurs Anonymous•Startup Grind•Lean Startup

Entrepreneur Support Groups•Thousand Seeds•Entrepreneurs Anonymous•Startup Grind•Lean Startup

New Frontiers• 150 participants•€15k grant, six month program• 14 Institutes of Technology• Country-wide•20% female

Enterprise StartEnterprise Start

Enterprise Start 2Enterprise Start 2

Competitive Feasibility Funds

Competitive Feasibility Funds

EI websiteInformation

Store

Mentor

€15k Feasibility Grant

Trade Fairs

€5k Innovation Voucher

Value Proposition Workshop

Introduction toBusiness Angels

Introduction to VCs

Investor WorkshopsPitch preparation

Get to Investor ReadinessA Range of Supports

Market Information Centre

Market Information Centre

EI Overseas Office

Value Proposition workshop

• Coming Attraction...........................

Very early stage…

HPSU Investment

Level of EI funding depends on exports, jobs & cash need

EI Investment is in equity [CCRPs] Minimum of matching external funding

Due Diligence - the Business Plan• Market Risks• Execution Risks• Financial Risks

Due Diligence - the Business Plan• Market Risks• Execution Risks• Financial Risks

Average initial investment €250k

Funding

VC Funds€520 million

Seed Funds€124 million

Pre-Seed

• Supports early stage start-ups• Competitive call 4 times per year• Funding = €50k matched with €5K from companies• 10% Equity • Panel of Serial entrepreneurs select the winners• 75 companies in 2013 [5 X 15]• Promoters are younger• 20% Female• Broad or targeted [Digital Media, Female, Aviation etc.]

• SPRINT development programme

After New Frontiers…

Accelerators that assist their participants do better• Online Application; prepare early, sample forms on EI

website• Video pitch; rehearse, try out on Sonru website• Live pitch to the panel of entrepreneurs and EI;

rehearse for maximum impact, show there is a team, • Apply early; get feedback to apply again• Preparation; organise some group sessions • Mentors; Get local promoters who have been

successful at CSF to assist

Suggestions to assist

applicants….