+ All Categories
Home > Investor Relations > Startup Sauna: accelerating startups - Fall '11 (Preso)

Startup Sauna: accelerating startups - Fall '11 (Preso)

Date post: 23-Aug-2014
Category:
Upload: paolo-borella
View: 2,659 times
Download: 1 times
Share this document with a friend
Description:
Sauna open sources seed acceleration for early stage startups in Northern Europe and Russia. The presentation is a summary of the study to map the current status and assess the performance of Alumni teams as of Fall '11. For more info check www.startupsauna.com
Popular Tags:
24
Startup Sauna: Accelerating Startups from Northern Europe & Russia Study Summary - Fall '11 Report Paolo 26.1.2012
Transcript
Page 1: Startup Sauna: accelerating startups - Fall '11 (Preso)

Startup Sauna: Accelerating Startups from Northern Europe & Russia

Study Summary - Fall '11 ReportPaolo

26.1.2012

Page 2: Startup Sauna: accelerating startups - Fall '11 (Preso)

Introduction

Startup Sauna open sources seed acceleration for early stage startups in Northern Europe and Russia since 2010.

Activities financed by Tekes and Aalto Center for Entrepreneurship.

Pro-bono support from talented coaches.

We executed a study to map the current status and assess the performance of Alumni teams.

2

Page 3: Startup Sauna: accelerating startups - Fall '11 (Preso)

Background

Seed Accelerators: structured, temporarily help for early stage startups to maximize success.

Concept born with Y Combinator (USA) in '05:● open, competitive application process● focus on small teams● temporarily help, intense coaching, Demo Day● Batches

No earlier studies covering Startup Sauna, key question: is Startup Sauna helping teams?

3

Page 4: Startup Sauna: accelerating startups - Fall '11 (Preso)

Methodology

Quantitative survey in October - December '11:

● hypothesis and questions● online form emailed to 38 Alumni teams● 89% response rate● complemented data with own knowledge● data consolidation and analysis● peer review & finalized findings

4

Page 5: Startup Sauna: accelerating startups - Fall '11 (Preso)

2 Years of activity

(*): Including Fall '11 Batch in Admitted teams

+1600 Students, Entrepreneurs, Investors & Media Exposed to Startup Sauna message!

5

Page 6: Startup Sauna: accelerating startups - Fall '11 (Preso)

Growing Interest

First batch in Spring '10:● 60 applications, 100% Finland● 23% acceptance rate

Last batch in Fall '11:● 240 applications from 6 countries● 7% acceptance rate

More selective, applicant quality increasing!

6

Page 7: Startup Sauna: accelerating startups - Fall '11 (Preso)

+100 entrepreneurs coached during camps

3 Batches, 38 graduate teams

7

Page 8: Startup Sauna: accelerating startups - Fall '11 (Preso)

Evolution of Teams

+76% of Alumni launched their product8

Page 9: Startup Sauna: accelerating startups - Fall '11 (Preso)

25 Companies in 5 countries

11223

17

29

Increasing diversity, growing the community!9

Page 10: Startup Sauna: accelerating startups - Fall '11 (Preso)

Industry coverage

(*): EVCA model 10

Page 11: Startup Sauna: accelerating startups - Fall '11 (Preso)

Accelerating Fundraising

+339%

+33%

Attracting International investors!11

Page 12: Startup Sauna: accelerating startups - Fall '11 (Preso)

8.2 M€ Funds Raised

12

Page 13: Startup Sauna: accelerating startups - Fall '11 (Preso)

10 companies with revenue for a total of 420K€/y

12

5

2

13

Page 14: Startup Sauna: accelerating startups - Fall '11 (Preso)

Growing Entrepreneurs

+65%

+15%

16% Female Entrepreneurs (Founder, CXO)14

Page 15: Startup Sauna: accelerating startups - Fall '11 (Preso)

138 People Employed

1

76

16

5

Growing the next generation of entrepreneurs!15

Page 16: Startup Sauna: accelerating startups - Fall '11 (Preso)

Conclusions 1/2

Startup Sauna has a positive impact on teams.

Alumni more successful at raising funds after camp:● 20 teams, avg 60K€ before the camp● 25 teams, avg 210K€ post camp● 11 teams raised more than 260K€ within 1 year

Startup Sauna has a great momentum with youth and helped develop the local startup community in size, diversity, attitude.

16

Page 17: Startup Sauna: accelerating startups - Fall '11 (Preso)

Conclusions 2/2

Deal flow is growing, teams quality is improving.

Showcases: Blaast, Campalyst, Ovelin.

Opportunity to further develop the alumni survey:○ Repeat the survey every 6-12 monts○ Improve quantitative metrics○ Batch level data granularity○ Extend methodology to qualitative data○ Evaluate Social Impact○ Benchmarking (Finland/global, teams/accelerators)

17

Page 18: Startup Sauna: accelerating startups - Fall '11 (Preso)

Back-up Data

18

Page 19: Startup Sauna: accelerating startups - Fall '11 (Preso)

ReferencesDonna Kelley, Niels Bosma, Jose Ernesto Amoros (Jan. '11): Global Entrepreneurship Monitor: 2010 Global Report. GEM, available at http://www.gemconsortium.org/article.aspx?id=165

NN (Nov. 2011), Enterprise Capital Report 2011. EVCA, available at http://www.evca.eu/knowledgecenter/PublicationDetail.aspx?id=PBECR11

Paul Miller, Kristen Bound (June 2011): The startup Factories. NESTA, available at http://www.slideshare.net/avanzisrl/the-startup-factories

Nicola J. Dee, Finbarr Livesey, David Gill and Tim Minshal (September 2011): Incubation for growth. NESTA, available at http://www.nesta.org.uk/publications/reports/assets/features/Incubation%20for%20Growth

Juha Ruohonen (July 2007): VICTA – Virtual ICT Accelerator, Technology Review 219/2007. TEKES, available at Tekes.fi

Gianluca Dettori, Aziz Gilani (June 2011): Accelerators in US and Europe: Speed and scale in capital formation. Kauffman Fellow program, available at http://www.slideshare.net/dgiluz/accellerators-in-us-and-europe

19

Page 20: Startup Sauna: accelerating startups - Fall '11 (Preso)

Start-up Alumni Surveyed Alumni Spring 2010 batch

1 Aalto Brain Company

2 Audiodraft

3 Barisma

4 Finders Base

5 Blaast (ex Hipui)

6 Kassi

7 LucSens

8 MakuMaku

9 Relationship Games

10 Videolla (ex RoMM)

11 Shobble

12 Thermophotonic Heat Pump

13 Asema Electronics (ex-Widsen)14 Wikimaps (ex-DreamTravel)

Alumni Autumn 2010 batch

15 Co-housing Suomi

16 DealMachine17 Dentatube

18 FunRank

19 Hookie Technologies

Alumni Autumn 2010 batch (cont.)20 Reach.ly (ex Lisa monitoring)

21 Ajelo (ex MetroDRT)

22 Lifeportfolio (ex-Octarine)

23 PowerVTT

24 Titan BGA

25 Tribestudios

Alumni Spring 2011 batch

26 Campalyst

27 Double Defense

28 Fund Friends

29 Futureful

30 Hakema

31 Mighty Fingers

32 Ovelin33 Solu34 Stereonic (ex fluorescent nanoscopy)

35 SunyRide

36 SynchMachine (ex-Tohina)37 Twonicorns

38 Walkbase 20

Page 21: Startup Sauna: accelerating startups - Fall '11 (Preso)

Quantitative Questionnaire# Question

Basic Info

1 Original/Current Team Name

2 Start-up Sauna/Bootcamp attented3 Are you still active as Start-up Team?

4 Do you have a Legal Company for your Start-up?5 Is your Product/Service live with customers (yes/no, if private/public, since when/target launch date)

Quantitative data

6 How much Sales Revenues generated from your product/service (no sales / estimates K€/Year based on current quarter data)7 Headcount before the camp (Full Time Equivalent)

8 Headcount during the camp (Full Time Equivalent)

9 Headcount at present (Full Time Equivalent):10 Funding collected before the camp (timing & amounts in K€: Founders/Angels/Governments/VCs, also specify if grants or equity

investment

11 Funding collected during the camp (as above)

12 Funding collected after the camp (as above)

13 Have you done an Exit, Merge or Acquired any other team? (specify company name, timing, amount in K€ and # people involved)

14 Are you actively looking for additional funds (timing, amount in K€) ?15 Are you interested in the opportunity to meet investors in events organized by Start-up Sauna in the near future?

Others16 Other notes and comments:

21

Page 22: Startup Sauna: accelerating startups - Fall '11 (Preso)

Summary Table 1/2Parameter # (*) %Number of Start-up Applications 525

Number of Start-up Coached 270

Number of Sauna Batches 4 Number of Start-ups Admitted to Sauna 54 10%

Number of Start-ups Graduated from Sauna 38 7%

Number of Start-ups still Alive 31 82%

Number of Startups Launched Product/Service 29 76%

Number of Startups that have raised Funding 33 87%

-Before Sauna 20 53%

-During Sauna 10 26%

-After Sauna 25 66%

# of Qualified Financing Events (>300K$/260K€ within 1Year) 11 29%

(*): Data as of 5.12.'11 with 89% answer rate excluding Fall '11 batch (except Applications, Admissions) 22

Page 23: Startup Sauna: accelerating startups - Fall '11 (Preso)

Summary Table 2/2Parameter # (*) %Total Funding raised (K€) 8176 -Before Sauna (K€) 1215 -During Sauna (K€) 1621 +33%

-After Sauna (K€) 5340 +339%

Number of Exits 1 3%

Value of Exits (K€) (*Lucsense acquired by Almare solutions 100% stock) -

Number of Start-ups with Revenues 10 26%

Total Revenues (K€/Year) 423 Headcount before Sauna (FTE) 84

Headcount during Sauna (FTE) 96 +15%

Headcount after Sauna (FTE) 138 +65%

Number of Teams with Female Entrepreneurs (Founder, CXO) 6 16%(*):Lucsense acquired for Stock in '11 by Almare Solutions, no public value. 23

Page 24: Startup Sauna: accelerating startups - Fall '11 (Preso)

'Boro' Paolo Borellamobile +358 40 4808333skype paolo_borellaemail [email protected] @paolo_borellalinkedIn paoloborella

Contacts

AkcnowledgementsBig thanks to the all the Sauna Coaches that provided help to shape the survey, and feedback to tune and Improve it. Special Thanks to Kristo Ovaska, Mikko Kuusi and Juha Ruohonen to trigger this discovery journey, to Ville Simola, Antti Ylimutka and Natalia Gaudet to keep it alive, and Gianluca Dettori @ Kauffman Fellow for the inspiration to do the survey. Our forever gratitude to the Sauna Alumni: without your efforts & energy we'd not exist.

Ville Simola, Captain+358505984561

Startup SaunaBetonimiehenkuia 3EspooFinlandemail [email protected] @startupsaunaFacebook/startupsaunastartupsauna.com

24


Recommended