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Reshma Sohoni: Seedcamp

Date post: 08-May-2015
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Seedcamp Catalysing Europe’s Next Generation Technology Entrepreneurs
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Page 1: Reshma Sohoni: Seedcamp

Seedcamp

Catalysing Europe’s Next Generation Technology

Entrepreneurs

Page 2: Reshma Sohoni: Seedcamp

Europe is a great place to start a company

• EU has 8 of Top 11 broadband markets, with >30% penetration) in Denmark, Netherlands, and Switzerland

• In UK alone, online advertisers spend 2x than US (16% of total ad spend in 2007 and 38% growth over 2006)

• Amazing R&D talent – High number of science & technology graduates and powerful technologies born here

• ...So, we want to help create more European versions

Source: Economist Jan 17, 2008, IAB

Page 3: Reshma Sohoni: Seedcamp

We’ve given birth to powerful technologies…

Page 4: Reshma Sohoni: Seedcamp

Experienced venture capital...

• More venture capital was put to work in Europe in Q1 than ever before - the $1.3bn total was way higher than the previous peak in Q107

• The average deal size for Europe broke $10m for the first time• The average deal size in the UK was $11.9m which is higher than the US figure of

$11.6m

Page 5: Reshma Sohoni: Seedcamp

We’ve begun to have some great exits…

$4.1bn $1.1bn

$366m

$900m $575m

$265m $280m

$1.0bn

$850m Unknown

Page 6: Reshma Sohoni: Seedcamp

We have a pipeline of web leaders….

Page 7: Reshma Sohoni: Seedcamp

Entrepreneurs actively seed investing...

• Oliver Jung & Lucasz Gadowski• Saul & Robin Klein via TAG• Samwer Bros via European Founders Fund• Martin Varsavsky• Niklas Zennstrom & Janus Friis via Atomico• Klaus Hommels• Stefan Glaenzer• Michael Kleindel• Oliver Beste & Fabian Hansmann via

FoundersLink• Brent Hoberman• Hugo Burge and David Soskin via Howzat Media

Page 8: Reshma Sohoni: Seedcamp

Yet, gaps remain at the early stage...

• Seed and early stage investing remains a underfinanced segment – 2008 will be a more difficult and competitive year

• It is challenging to rise above the increasing amount of noise in the startup community

• Access to high quality mentorship and network continues to prove difficult for 1st time entrepreneurs

Page 9: Reshma Sohoni: Seedcamp

What is Seedcamp?

• Competition + Fund + Events for early stage companies• Seedcamp 2008 – September 15th – 19th

• Europe-wide initiative to catalyze the next generation of Europe’s entrepreneurs

• Combination of Seedcamp Week + 3 months immersion + Seedcamp on the Road

• Initial funding to get started and more importantly a strongly supportive mentor community

• Organization supported by leading VCs, Angel investors, Corporates, Media Partners, and other experts

• The go-to community for entrepreneurs starting up Internet and mobile related businesses

Page 10: Reshma Sohoni: Seedcamp

What are we looking for?

• Teams of 2-4 – combination of technical/developer talent + business-savvy

• Ideas focused in the internet, mobile, open source, software sectors

• At prototype or product stage – not just powerpoint presentations

Page 11: Reshma Sohoni: Seedcamp

How does it work?

• Application & Selection– Targeted at young teams from EMEA– Open application through the web– 20 best teams selected by panel of VCs– Invited to come to London for 1 week in September

• Seed funding– Week long, immersive event in London for winners– Successful teams surrounded by 150+ exceptional mentors– Up to 5 teams chosen for €50k funding for 10% equity stake– Invited to stay a further 3 months in London

• Company development– Weekly lunches & events to support teams– Demo day after 6 weeks – Investor day after 10 weeks– Trip to the US (West Coast)

• Seedcamp on the Road– Create the ecosystem where entrepreneurs, investors, and

mentors can connect and work together– Working with local universities and developer communities

to highlight talented teams and encourage entrepreneurship– Build relationship with local Angel and VC investors to build

on the ecosystem

June & July

Sept 15th-19th

Sept toDecember

Januaryto June

Page 12: Reshma Sohoni: Seedcamp

We’re backed by Europe’s leadersFew of the Investors Some of the Mentors

And a few of the Friends

Niklas ZennstromMartin VarsavskyBrent Hoberman Marc SamwerCharlie MuirheadMatt JonesTom CoatesMike ShaverSaul Klein

Leisa ReicheltJane H. FinetteSean ParkFounders LinkJeff BarrRobin KleinRodrigo MadanesLukasz GadowskiRory Sutherland

Page 13: Reshma Sohoni: Seedcamp

How do companies benefit

• 3-month active access to Europe-US mentor and partner network– Product launch, Business Development, Marketing strategy– Recruiting for business and technical talent– Advisors, legal setup, media coverage

• Milestones and access to Funding– Accelerated speed of company development through working

with other teams and clear milestones– Demo Day and Investor Day – receive dedicated feedback on

product development and funding

• Results– Most of the companies have closed next round of angel or VC

funding at the end of the 3 months– Product to market moved much faster from stand-alone targets

Page 14: Reshma Sohoni: Seedcamp

The future – how we work together

• We want more hackers (University, Open source) less pure MBAs

• Help us get the word out locally• Help us create an active community:

– Tap our network – Use (or start) OpenCoffee Clubs to meet peers and

develop ideas– Get involved on our FB group, You Noodle, website

forum

• Get ready for 2008 Seedcamp

2007 Seedcamp had 268 applications (60% from Continental Europe)

2008 goal is to attract even higher quality, more pan-European teams


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