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Incubator 2.0: A Silicon Valley Success Story

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Dave McClure
Dave McClure

Presentation on incubators & startups to DC GovTech meetup with White House & State Dept (9/19/09).

BusinessEconomy & Finance
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Incubator 2.0: A Silicon Valley Story Engineering Better High-Tech Startups with Incubators, Investment, & Iterative Development Dave McClure (@DaveMcClure) Founders Fund & GeeksOnaPlane.com Sept-Oct 2009
Startup Funding Ecosystem Union Square Ventures First Round Capital SoftTech (Jeff Clavier) SV Angel (Ron Conway) Benchmark Sequoia Y-Combinator TechStars FF Angel FF II fbFund REV (FF, Accel, Facebook) FF I Angels & Incubators ($0-10M) Seed Funds ($10-50M) Small VC Funds ($50-250M) Traditional VC Funds (>$250M)
[Pardon The Hype]
Dave McClure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],GEEK, CODER, ENTREPRENEUR Blogger, Startup Advisor Internet Marketing, Angel/VC Investor
Angel Investments (Personal, 2004-2008, 13 deals, avg $25K)
Angel Investments (via FF Angel, Q408-Q309, 30+ deals) FF Angel – 12 deals @$50-250K fbFund REV – 22 deals @ ~$15-75K
Founders Fund (2005-2009)
Startup Incubators (lots of little deals… some of which work :)
Incubator: Hatching Startups ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Incubator 2.0 ,[object Object],[object Object],[object Object],[object Object]
Incubator 2.0 ,[object Object],[object Object],[object Object]
fbFund REV ,[object Object],[object Object],[object Object],[object Object],[object Object]
fbFund REV ,[object Object],[object Object],[object Object],[object Object],[object Object]
Startup Funding 1, 2, 3: Incubator, Angel, VC.
Startup Funding Ecosystem Union Square Ventures First Round Capital Benchmark Sequoia FF II FF I Angels & Incubators ($0-10M) Seed Funds ($10-50M) Small VC Funds ($50-250M) Traditional VC Funds (>$250M) Y-Combinator TechStars FF Angel fbFund REV (FF, Accel, Facebook ) SoftTech (Clavier) Maples Investments Felicis (Senkut) SV Angel (Conway)
I^3 : Incremental Investment & Iteration ,[object Object],[object Object],[object Object],[object Object]
Investment #1: Micro-Seed (“Incubator”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Investment #2: Seed (“Angel”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Investment #3: Series A (“Venture”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Startup Metrics Create. Measure. Iterate.
Startup Metrics: Lean & Mean ,[object Object],[object Object],[object Object],[object Object],[object Object]
Startup Metrics for Pirates: AARRR ! ,[object Object],[object Object],[object Object],[object Object],[object Object]
Minimize TOTAL time through the loop LEARN BUILD MEASURE IDEAS CODE DATA Source: Eric Ries, The Lean Startup
Startup Metrics for Pirates ,[object Object],[object Object],[object Object],[object Object],[object Object],(note: If you’re in a hurry, Google “Startup Metrics” & watch 5m video) AARRR !
AARRR!: 5-Step Startup Metrics Model Website.com R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce A CQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains R etention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds
Startup Challenges ,[object Object],[object Object],[object Object],[object Object]
Role: Founder/CEO ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Role: Product / Engineering ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Role: Marketing / Sales ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Links & Resources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Silicon Valley Innovation = Entrepreneurs + Technology + Immigrants Immigration as Critical to American Economic Leadership as Technology Innovation
Q: Where are the Startups? Source: TechCrunch.com
A: Where Legal Immigrants Reside. Source: TechCrunch.com
A: Where Legal Immigrants Reside. Source: TechCrunch.com
Summary ,[object Object],[object Object],[object Object]

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Incubator 2.0: A Silicon Valley Success Story

  • 1. Incubator 2.0: A Silicon Valley Story Engineering Better High-Tech Startups with Incubators, Investment, & Iterative Development Dave McClure (@DaveMcClure) Founders Fund & GeeksOnaPlane.com Sept-Oct 2009
  • 2. Startup Funding Ecosystem Union Square Ventures First Round Capital SoftTech (Jeff Clavier) SV Angel (Ron Conway) Benchmark Sequoia Y-Combinator TechStars FF Angel FF II fbFund REV (FF, Accel, Facebook) FF I Angels & Incubators ($0-10M) Seed Funds ($10-50M) Small VC Funds ($50-250M) Traditional VC Funds (>$250M)
  • 4.
  • 5. Angel Investments (Personal, 2004-2008, 13 deals, avg $25K)
  • 6. Angel Investments (via FF Angel, Q408-Q309, 30+ deals) FF Angel – 12 deals @$50-250K fbFund REV – 22 deals @ ~$15-75K
  • 8. Startup Incubators (lots of little deals… some of which work :)
  • 9.
  • 10.
  • 11.
  • 12.
  • 13.
  • 14. Startup Funding 1, 2, 3: Incubator, Angel, VC.
  • 15. Startup Funding Ecosystem Union Square Ventures First Round Capital Benchmark Sequoia FF II FF I Angels & Incubators ($0-10M) Seed Funds ($10-50M) Small VC Funds ($50-250M) Traditional VC Funds (>$250M) Y-Combinator TechStars FF Angel fbFund REV (FF, Accel, Facebook ) SoftTech (Clavier) Maples Investments Felicis (Senkut) SV Angel (Conway)
  • 16.
  • 17.
  • 18.
  • 19.
  • 20. Startup Metrics Create. Measure. Iterate.
  • 21.
  • 22.
  • 23. Minimize TOTAL time through the loop LEARN BUILD MEASURE IDEAS CODE DATA Source: Eric Ries, The Lean Startup
  • 24.
  • 25. AARRR!: 5-Step Startup Metrics Model Website.com R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce A CQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains R etention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds
  • 26.
  • 27.
  • 28.
  • 29.
  • 30.
  • 31. Silicon Valley Innovation = Entrepreneurs + Technology + Immigrants Immigration as Critical to American Economic Leadership as Technology Innovation
  • 32. Q: Where are the Startups? Source: TechCrunch.com
  • 33. A: Where Legal Immigrants Reside. Source: TechCrunch.com
  • 34. A: Where Legal Immigrants Reside. Source: TechCrunch.com
  • 35.

Editor's Notes

  1. BUILT TO LEARN This is the core feedback loop that powers startups. Their goal is not to optimize the time it takes to do any one of these steps. There are many specific practices that can power lean startups, and we’ll cover a few in this presentation. But more important than any specific practice is this core idea: startups should be built to learn.