The resources you need can be distributed: for R&D, prototyping, production, financing and customers. Silicon Valley is an expensive option in most cases!
8. Digital Therapy
Flow Neuroscience
Brain Stimulation
Depression Treatment
Digital Diagnostic
Criam Tech
Instant Blood Type Diagnostic
Digital Tool
OpenTrons
Pipetting Robot For Biotech
Industrial Automation
Youibot
Autonomous Robots For Inspection
Consumer Tech
Nura
Personalized Audio
(Stevie
Wonder)
Sweden Portugal NYC
China Australia
11. Silicon Valley
100 years history01/
Multiple cycles02/
Set of resources03/
Vacuum Tubes
1
Test
Equipment
MicrowavesICs
PCs Internet
Social Media
2
34
5 6
7
1920s 1930s
1960s 1950s
1980s 1990s
2010s
Source: steveblank.com/secret-history/
14. 1 Market Local Regional Global
2 Capital Angel Seed Growth Exits
3 Talent Tech Design Sales Management Finance
4 Infrastructures Telecom Payment Logistics Utilities
5 Regulations Incorporation Bankruptcy Employment Immigration Taxes
6 Safety Net Benefits Job market
Ecosystem What can be changed?
15. About Exits…
• 7 events in 2018
• SF, NYC, London, Paris
• 50 experts
• Founders & VCs
• Corp Devs, Bankers, Lawyers, CFOs
• John Chambers (Cisco)
16. Lessons
• Myths
• Unicorns? Maybe.
• IPOs? Maybe.
• Pragmatic path
• >90% of exits are M&As
• You have to prepare!
• Be visible + connect early
17. FOMO? FOSO
• The problem(s)
• Fear Of Selling Out
• VCs want homeruns
• 1 egg in 1 basket
• Millions before Billions
• Balance risk
• Critical to ecosystem health
‘You sold out.’
‘You’re not going
to amount to anything’
Captain Disillusion
Opens Patreon Account
18. 1 Market Local Regional Global
2 Capital Angel Seed Growth Exits
3 Talent Tech Design Sales Management Finance
4 Infrastructures Telecom Payment Logistics Utilities
5 Regulations Incorporation Bankruptcy Employment Immigration Taxes
6 Safety Net Benefits Job market
Ecosystem
25. Why Investors ‘Pass’
'Only invest in US & Canada’
‘Invested in competitor’
‘Don’t know enough about this market’
02/
03/
05/
‘Too early’01/
‘Market is too small’04/
26. Why Investors ‘Pass’
'Only invest in US & Canada’
‘Invested in competitor’
‘Don’t know enough about this market’
02/
03/
05/
‘Too early’01/
‘Market is too small’04/
‘Don’t think YOU can do it’06/
35. Case:Autonomow
Unfortunately, not a HAX company
Mowing = Mild interest
Weeding = Need NOW!
Autonomy not needed
“Autonomow is no mo’ …”
7 weeks
20 interviews
6 site visits
2011
50. • Speed up
• Lower burn rate
The Best Resources
$115,000
AVG. SOFTWARE
ENGINEER
$3,600
AVG. TWO
BEDROOM
SF is expensive
at any stage…
51. • Science / Prototype(s) / Production / Funding(s) / Customers
• Not all in one place, even in Silicon Valley!
• Target the next milestone
The Best Resources
NEXT
52. 2 4 861 3 7 95
Identify Customers
EVT DVT 1
Manufacturing samples
DVT 2
Marketing samples
PVT Pilot Unit
Production
SOSV (pre-seed) SEED
Product Dev $$$
Month
10
Pilot
12+ 18+
Roll-out
24+
SERIES A
Program
Development
Sales
Fundraising
Shenzhen San Francisco
Develop CRM &
Sales Materials
Pitch Customers
Mass
Production
Establish product
benefits
Fundraising
Timeline: Enterprise / Robotics
53. 2 4 861 3 7 95
Identify Customers
EVT DVT 1
Manufacturing samples
DVT 2
Marketing samples
PVT Pilot Unit
Production
SOSV (pre-seed) SEED
Product Dev $$$
Month
10
Pilot
12+ 18+
Roll-out
24+
SERIES A
Program
Development
Sales
Fundraising
Shenzhen San Francisco
Develop CRM &
Sales Materials
Pitch Customers
Mass
Production
Establish product
benefits
Fundraising
Timeline: Enterprise / Robotics