Si University Spin-offs from a Venture Capitalist Perspective - - PowerPoint PPT Presentation

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Si University Spin-offs from a Venture Capitalist Perspective - - PowerPoint PPT Presentation

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Si University Spin-offs from a Venture Capitalist Perspective Vienna | Silicon Valley | Munich | | Speedinvest University Spin-offs from a Venture Capitalist Perspective Q2/2017 Page 1 Si Speedinvest in a nutshell One of the leading

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Speedinvest Vienna | Silicon Valley | Munich | |

Si

University Spin-offs from a Venture Capitalist Perspective

Q2/2017 Page 1 University Spin-offs from a Venture Capitalist Perspective

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Speedinvest Vienna | Silicon Valley | Munich | |

Si

Speedinvest in a nutshell

  • One of the leading European digital venture funds with EUR 100M

under management

  • A center of gravity for the digital start-up ecosystem in CEE due to

competent investors and strong partners

  • Proven success via unique entrepreneurial approach and strong links

to the US

Page 4 University Spin-offs from a Venture Capitalist Perspective Q2/2017

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Speedinvest Vienna | Silicon Valley | Munich | |

Success Factors

Page 5 University Spin-offs from a Venture Capitalist Perspective Q2/2017

Success Stories Operational involvement Bridge to the US Dealflow and partnerships

Sh Shpock

Exit with >30 multiple CoC

Hi Hitbox

Global #2 in eSports, exited

Ho Holvi

Exited to BBVA

Wi Wikifolio

Social trading with >180M AuM

Fin inanceFox

#1 InsurTech deal in Europe 2017

iM iMobilit ility

Corporate incubation

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Speedinvest Vienna | Silicon Valley | Munich | |

Re-inventing Venture Capital

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Speedinvest Vienna | Silicon Valley | Munich | |

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Speedinvest Vienna | Silicon Valley | Munich | | Seite 8 02/2017 University Spin-offs from a Venture Capitalist Perspective

Exponentially growing dealflow

  • 20

40 60 80 100 120 140

2011 2012 2013 2014 2015 2017

Si Si1 Si Si2

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DACH CEE Europe Deep Tech

Si Si1 Si Si1 Si Si1 Si Si2 Si Si2 Si Si2 PV PV Si Si1 Si Si1 Exi xit Si Si2 Si Si2 Si Si2 Si Si2

Fin Tech

Si Si1 Si Si1 Si Si2 Si Si2 Si Si2 Si Si2 Si Si2 Si Si2 Si Si2 Si Si1 Si Si2 Exi xit Si Si1

Consumer Tech

Exi xit Exi xit Si Si1 Si Si2 Exi xit PV PV PV PV Si Si1 Si Si2 Si Si2 PV PV PV PV Exi xit Si Si2 Si Si2 Si Si2 Exi xit PV PV Si Si2 St Studio St Studio St Studio PV PV Si Si2 PV PV

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Speedinvest Vienna | Silicon Valley | Munich | |

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Speedinvest Vienna | Silicon Valley | Munich | | Q2/2017 Page 11 University Spin-offs from a Venture Capitalist Perspective

SPI SPIN-OF OFF LE LEARNINGS

  • Founders had contracts as

research assistants

  • Problems arose: IP was

partly university asset

  • Fear of Google case

à IP-Transfer payment to university DE DESCRI CRIPTION

  • Provides high performance media transcoding, streaming, analytics and

playout solutions

  • Cloud-native media processing 100x faster, better quality, unparalleled

flexibility best-of-breed industry solution KEY KEY MET ETRICS S (Clients, Revenue, Growth, la last round valu luatio ion)

  • + 20% MoM growth
  • Customers: Ooyala, VEO, Sky, Red Bull, Televisa, Puls4, Orange
  • US expansion
  • Last round USD 10,3m, Atomico

Bi Bitmovin: : Cloud-based (VR) media processing & streaming bitmovin.com

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Speedinvest Vienna | Silicon Valley | Munich | | Q2/2017 Page 12 University Spin-offs from a Venture Capitalist Perspective

SPI SPIN-OF OFF LE LEARNINGS

  • Max Planck Institut held IP

rights on aircloak with their standard royalty system

  • Recurring revenue vs

Equity growth

  • MPI was afraid of MP3 2.0

à Agreement on equity, licnece fee and claculation scheme in case of exit DE DESCRI CRIPTION

  • Al

Allows for immediate, safe and legal sharing or monetization of sensitive dat datas aset ets

  • Its

Its te technology cr creates s new opportunities s for data monetiza zation while mi minimi mizing the cost of comp mpliance

  • At

At the same time, privacy is stronger than ever KEY KEY MET ETRICS

  • No revenue yet
  • 6 FTEs, 285k annualized weighted pipeline value

Ai Aircloak: : Safe sharing or monetization of private data aircloak.com

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Speedinvest Vienna | Silicon Valley | Munich | |

University spin-offs from a VC perspective:

Page 13 University Spin-offs from a Venture Capitalist Perspective

IP IP rights ts

Q2/2017

Pr Product- ma market fit ca cap ta table Fo Founder te team

  • Long-term royalties
  • Selling IP for cash + follow-up

payment linked to exit price

  • Uni selling IP for equity
  • Prof selling IP for equity
  • Who is using their product and

why?

  • Which problem is solved?
  • Potential mismatch of

commercialization & research

  • Clean captable
  • No dead equity, Founderdriven
  • Reasonable valuations
  • Industry know-how
  • Entrepreneurial approach
  • Global mindset
  • Fluent English
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Speedinvest Vienna | Silicon Valley | Munich | |

  • According to rankings #1 in terms of start-up-

creation

  • Nothing more to say
  • 5% equity for structured program

US programs

Page 14 University Spin-offs from a Venture Capitalist Perspective Q2/2017

Success stories

The Stanford MBA

  • An accelerator program to support postgrads
  • Launched various successful ventures since

2012

The Studio (Cornell Tech)

  • In its 4th decade and has started over 150

companies

  • Contributed to the emergence of Buzzfeed,

Optimus Ride and many more…

The Media Lab (MIT)

Ni Nike Was the result of a case-study Na Nanit $6.6M seed funding in 2016 A smart baby monitor for the IOT era Bu Buzzfeed $446.3M funding in 6 rounds Buzz feed is redefining online advertising with its social, content-driven publishing technology

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Speedinvest Vienna | Silicon Valley | Munich | | Q2/2017 Page 15 University Spin-offs from a Venture Capitalist Perspective

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Speedinvest Vienna | Silicon Valley | Munich | |

Differences: cultural, academic & structural

Page 16 University Spin-offs from a Venture Capitalist Perspective

Pre restige of

  • f

ent entrepr epreneur eneurshi hip

Q2/2017

MB MBA-cu culture In Industr try fu funding & & Bu Budget al alloc

  • cat

ation

  • n

In Incenti tives

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Speedinvest Vienna | Silicon Valley | Munich | |

Theoretical Propositions

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Concrete Solutions

Stimulation of entrepreneurship at the grass-root level

  • 1. Strengthened steering core at the

university‘s top-management level

  • 2. Boundary spanning structures
  • 1. Commitment to a diversified funding

base blending public/private sources

  • 2. Pursue of a true multi-disciplinary

approach

  • 3. Living an overall entrepreneurial

culture embracing all university staff

Possible implementation

Source: Clarke, 1998

Employment of experienced entrepreneurs within the faculty Technology transfer offices manage IP rights/commercialization Incorporation of VCs Introduction of entrepreneurial courses Increasing prestige of entrepreneurial role of university researchers

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Speedinvest Vienna | Silicon Valley | Munich | |

EUROPEAN EXAMPLES

Page 18 University Spin-offs from a Venture Capitalist Perspective Q2/2017

SUCCESS STORIES

ETH Zürich

  • Accelerator Program “Techfounders”
  • Provides start-up advising services
  • Theoretical and practical training from the TUM SoM
  • Strong industry-partners, such as BMW or Bosch
  • Makers space
  • Supports spin-offs on the basis of research results
  • Fosters entrepreneurs through consulting &

infrastructure

  • IP issue remains controversial

TU München

  • Established a TTO
  • Matching, Scouting & Mentoring
  • Gründersprechtage & advice on IP
  • Provides co-working spaces

FH OOE (Campus Hagenberg) Op Optotune

Optotune develops adaptive optical components based on elastic polymers

Na Navvis

The company provides software for interior navigation ago and the subsequent creation of a 3D view

Ru Runtastic

Needless to mention ;-)

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Speedinvest Vienna | Silicon Valley | Munich | |

Ty

Thank You! marie-helene@speedinvest.com

Page 19 University Spin-offs from a Venture Capitalist Perspective Q2/2017