Building Your Entrepreneur Eco-System: A Roadmap for Sustainable Incubation By Jon Gregory and Jim Kitchel Golden Capital Network
About the Presenters Jim Kitchel, CEO – Newcastle Ventures - - - Serial entrepreneur (5 IPOs) Experienced venture capitalist Active angel investor (Past chairman, Sacramento Angels) Widely recognized expert (Wall Street Journal, Barron’s, Popular Science Magazine, etc. ) Economic development volunteer (Salt Lake, Austin, Silicon Valley, Sacramento)
About the Presenters…continued Jon Gregory, CEO – Golden Capital Network - - 15 years of increasingly responsible positions in local and regional economic development in Northern California Econ dev leadership (CALED, SARTA and Butte EDC Boards; EDA 2005 National Awards Committee; State and Natl. awards) Formed Golden Capital Network in 1999 Over $1 B raised by presenting companies 10+ angel groups, 300 VCs, 800 entrepreneurs Entrepreneurs Grill, Entrepreneurs Hot Seat, UC Davis Big Bang, 2 Minute Drill, Silver and Gold Venture Club, SARTA Wildcat Angel Funds I and II New Developments Hub and Spokes Seed Fund Venture Communities Entrepreneur Eco-System
The Small Business and Entrepreneur Continuum: Differing Needs and Stages Innovative Growth Ventures in Large Markets (Technology, process, business model, intellectual property) SME – Mature Industry (Textile, wood, fab – Est. manufacturers & resellers) Local/Regional Small Business (Regional ISP, Restaurant, Gas/Food Market) Self Employment/ Microenterprise (Cleaning Service, Local Artisan, Independent IT Consultant)
Entrepreneurial Growth Companies: The Engines of Innovation and Regional Competitiveness Entrepreneurial Growth Companies (EGCs) Defined n EGCs drive the growth of local and regional economies, and are the pioneers of new industry clusters, and are capable of “economic difference making events” All Entrepreneurs Are Not Created Equal! n
Sampling of GCN Innovation Alumni Presenters
Cultivating the Sustainable Entrepreneurial Ecosystem
Seven Steps Necessary to Build and Sustain the Eco-System 1) Convene and Engage a Stakeholder Committee 2) Conduct Catalyzing Kick-Off and Other Events 3) Survey, Outreach, Classify, Capture 4) Growth Company and Entrepreneur Impact Plan 5) Angel Investor Impact Plan 6) Evaluation, Benchmarking, Reporting 7) Continue to Build and Nurture Your “High Impact” Network
Step #1: Stakeholder Committee n Opinion leaders n Workforce investment, econ dev and chamber orgs n Incubator/SBDC/SCORE and related reps n Academics – Administrators and faculty -- Business, MIIS, Engineering Entrepreneurship n Elected officials/policy leaders n Venture capitalists n Established CEOs/founders from industry n Retired CEOs/executives from industry n Startup and early stage growth entrepreneurs n Angels and potential angels n Private sector service providers n Experienced advisors/mentors n Q: WHERE CAN YOU FIND THEM?
Stakeholder Committee: How Can They Help? n Promote • Local champions to talk about it n Help “Build” the Agenda for “Kick-Off” • Speakers/Panelists • Serve as panel moderators • Local companies to Showcase n n Recruit Sponsors Communication & Media Relations • Newsletter, PR, E-blasts, advertisements n Advising and Mentoring • Coaching the companies you will be showcasing
By Promoting Your Initiative n n Scott Winter, Learning. Change – graphic design and local business journal The Linscheid Group – radio interview, media placements/discounts Butte Community Bank – distribute flyers in all bank branches Scott Gruendl, Mayor, City of Chico – engagement of all community organizations
By Building the Agenda!
By Recruiting Sponsors!
By Driving Communication Activities! Recommended Timeline: Week of 4/24/06: n Identify spokespeople n Finalize media pitch n Week of 5/1/06: n Pitch #1 sent to local media with phone follow-up to all. Pitch will be tailored to each outlet and include references to appropriate local companies and people. Week of 5/8/06: n Follow-up on pitch #1 with all print outlets, secure and staff interviews Week of 5/15/06: n Pitch #2 sent to publications that did not respond to the first pitch n Media alert drafted by MDPR and approved by GCN Week of 5/22/06: n Media alert issued to all print publications outlined above and broadcast including KFBK, Fox 40, KCRA, and KMAX. Attempt to book on air interview on KFBK for evening of 5/22/06. n Calls placed to all outlets by MDPR to see if they will be attending. n Calls placed to all outlets to see if they will be attending. Photos taken at event by MDPR. n Photos from event sent to Prosper and Sacramento magazines.
By Providing Deal Flow and Advising Companies! n Hi Jon. Here's the summary for one of the teams I am hoping to get into the conference. This is the UC Davis team I am mentoring. They were a top finisher at the Jungle Business Plan competition last weekend, and they are a Big Bang finalist, so I think they would be a great addition to the EDH conference. Let me know if they are able to come!!! Thanks!Jim
Step #2 – Executing The Kick-Off Event n n n Brings the right people together Sends the innovation growth entrepreneurship message Gets the entrepreneurs, angels and private sector out of the woodwork Establishes the brand Establishes credibility Generates momentum and contacts
Why do a kick-off event? Yesterday's event was spectacular. I hope that this will be the first of many more to come. Any time our community can learn more about the opportunity to bring new business and capitol to our area, is time well spent. As a sponsor of many events, I must let you know that with out a doubt this is the best return for a sponsorship that I have seen. We appreciated being part of the planning of the event by having Becky Gard attend meetings. It was wonderful having a table at the event where we could offer information about the bank. I was amazed at the repetition in display of the logos of the sponsors during the entire event. Then to have three minutes to have Damon Gustafson be able to thank the attendees and have our logo giant size during the whole panel we sponsored was really great. The panels were all very informative and the key-note speaker, Tim Draper was a grand slam. The most enjoyable part of the day was listening to each presenter do their two minutes with the passion and energy it will take to make their dreams become a reality. Thank you for organizing such a memorable event, Diane Modes
It Brings the Right People Together n - - Those Who Are Critical to Your Entrepreneur Eco-System! Investment bankers Money managers Legal, accounting, marketing, pr and design firms Media representatives (daily, weekly and broadcast)
It Gets Private People Out of the Woodwork - Examples Skip Phairas and Jessee Allread – Advisors/Investors Josh Morgan – Public Relations Expert (Skype, Apple) Jeff Schlicht, Auctiva and Christian Friedland, Improvement Direct – Entrepreneurs Ryan O’Donnell and Steve Hoke – Angel Gatekeepers Glenn Toney – Retired Executive, Past President of CSUC Alumni Assoc.
It Establishes The Brand!
It Generates Momentum/Contacts! – Examples n n n n n Daniel Ledford, Oroville Attorney (ex Keiretsu Forum member) Bill Deters, Sierra Angels Damon Danielson, Online Video Services Angel Investor Thomas Toy, Pac. Rim and Smart Ventures Kathy Castillo, Gene Chueng, Horne. Murdock. Cole Greg Chabrier, Lake Almanor – ex-Cisco Systems Sales Exex and angel Bob Bozeman, Lake County – ex GP of Angel Investors, Inc. (invested in Google) Josh Morgan, Morgan/Dorado PR – ex Edelman PR John Scifres, Cornish & Carey, Sac Angel
Elements of an Innovation Growth Entrepreneurship-Focused Event n n n Showcase innovation growth companies (and make it competitive) Hear from equity investors (angels and VCs) Executives, CEOs and other Heavy. Hitters panel Plenty of Networking Keynote if it adds the right value
Hear from Local Executives, CEOs and Heavy Hitters n Learn… - Why entrepreneurs & executives came to the region, and their goals - Strengths & weaknesses of doing business in your region - Current company and region-wide issues - What makes regional private sector leaders “tick”
Hear from Angels and VCs n Learn… - What it takes for an entrepreneur to get funded - Differences and similarities of angels and VCs, and their specific investment preferences - How to get a deal looked at, and how to communicate with investors - How you can add value to them!
Provide Plenty of Networking n - - - The informal meetings in the “halls” are where a lot of stuff gets done! Example #1 - Tim Westergen, Savage Beast Technologies (now Pandora Media) Example #2 – Jim Higgins, Digital Path Networks Example #3 – Sacramento Angels
The Right Keynote Speaker Can Make All the Difference!
Step #3: Survey, Outreach, Classify, Capture n n n Follow up e-mail with brief survey 3 different targets Key data for follow up (Action Category determination) Key data for measuring progress Build and grow continually
Step #4: The Growth Company & Entrepreneur Impact Plan n Assigning to an Action Category • Deal-Flow Stream • Communication Stream • Advising Stream • Networking Stream
The Deal Flow Stream Marrone Organic Innovations Wins Best of Show at GCN Angel & VC Summit 5/30/2006 Organic growth: Pam Marrone's new biotech venture is off to a great start. Her Davis company, Marrone Organic Innovations, was judged "best of show" at this week's Golden Capital Network event in El Dorado Hills, which brings together startups and potential investors. She got the award Wednesday evening. By Thursday morning, "I had five calls or e-mails from potential investors, " she says. Her goal is to raise $500, 000 immediately to hire the new firm's first employees. A $2 million round will follow. Her previous work at Agra. Quest -- for which she has been selected as a finalist in Ernst & Young's Entrepreneur of the Year awards program -- led to the commercialization of organic pesticides. Her firm is developing chemical-free products for killing weeds. Bob Shallt, Sacramento Bee
The Communications Stream n n n Arc. Wave Expands Sales Team and Opens New Office to Accommodate 60% Growth Rate for Wireless Last Mile Product for MSOs – Los Gatos Key. Eye to Present Technical Paper at IEEE International Solid-State Circuits Conference – Sacramento Intellidot Announces Novation Contract – San Diego Well. Dog Awarded $200 k Grant to Develop Best Practices Guide for Coalbed Natural Gas Industry – Laramie, WY Pandora Media, Entrepreneur Magazine - Oakland
The Advising Stream STARTUPS CAN BUY TIME IN HOT SEAT Golden Capital Network launched its new Entrepreneur Hot Seat this week, offering founders of emerging growth companies a 90 minute session to pitch their concept and company to a panel of industry experts. The entrepreneurs receive a quick tune up for their ventures, and the professionals get a first look at up-and-coming companies. Customers pay $500 for the privilege, a fraction of what these venture capitalists, attorneys, accountants and investors would normally charge -- assuming an entrepreneur could wrangle 90 minutes with them in the first place. Before the session, the experts review the business plan and presentation materials. Then the entrepreneur, the company and the concept get peppered with questions. "The advisers listen to the business plan, watch the presentation, ask questions and offer advice, " said Jon Gregory, president of Golden Capital Network. When it's all over, Golden Capital polls the advisers and puts together a briefing paper so the entrepreneur can learn what the experts
The Networking Stream Tech. Coire's mission is to help technology entrepreneurs and executives within the region build successful businesses by empowering them with the knowledge, capital and connections that are critical to their development and growth. Since its launch in 2001, Tech. Coire has become the Sacramento region's only business-technology education and networking organization serving a network of over 1200 technology executives, entrepreneurs and venture capitalists. www. techcoire. org
Step #5: The Angel Investor Impact Plan n Networking • Personal Relationships • Local Angel Group • External Groups n Education • • • n Risk Mitigation Tax Implications Valuation Investment Opportunities • Local • Extended
Networking for Angel Investors n n n - Keiretsu Forum Golf Tournament Join ACA for Their Annual and Regional Events GCN Silver and Gold Venture Club Partner with Cal. PERS, Cal. STRS, Kauffman Foundation/Angel Capital Association
Angel Investor Education n - Kauffman Foundation “Power of Angel Investing” Seminar Is Angel Investing Right for You Angel Portfolio Strategy Overview of Due Diligence Structuring the Deal Valuation Methodologies The Post Investment Relationship
Investment Opportunities for Angels n n n n Marrone Organic Innovations (Davis CA) Industrial Origami (San Francisco) Jopari Solutions (Concord CA) Uptake Medical (Seattle WA) Pria Diagnostics (Incline Village NV) Kovars (Sacramento) Digital Path Networks (Chico CA)
Step #6: Evaluate, Benchmark and Report Progress! The SARTA Technology Index™ is an innovative tool that measures the health of the regional technology economy by tracking the leading 50 high tech and life science companies driving its growth. Just as the S&P 500 acts as a bellwether for corporate America, the SARTA Technology Index™ is a barometer of how technology companies in the nine county greater Sacramento region are performing. SARTA Tech Index - 1 Quarter - 2006
Closing Thoughts – You Have Some Important Objectives to Achieve! n n Catalyze growth entrepreneurship, angel investing and high level advising efforts in your community. Facilitate connections and relationships between growth entrepreneurs, angel investors and high level advisors, executive management and employees. Establish a benchmark of innovation entrepreneurship and angel investing capacities and measure progress. Provide a deal flow engine between entrepreneurs and angel investors/VCs in your community and outside your community.
Important Objectives to Achieve, Continued n Communicate milestones, successes and achievements for entrepreneurs and communities. n Aggregate data across the early stage innovation investment industry n Build additional form and structure into your innovation entrepreneurship infrastructure n Position the stakeholders and the community as leaders and innovators in the new economy
Скачать презентацию Building Your Entrepreneur Eco-System A Roadmap for Sustainable
e08bd8b7d234c3abfec37a7a39514cf7.ppt