The Recipe For Creating a Successful Startup Ecosystem
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A thorough review of what makes a great ecosystem for entrepreneurs. It's not enough to have a great idea or a great team, as an entrepreneur you need a supporting environment that will help you succeed. In this presentation you can find the main ingredients that create a good ecosystem for startups along with a review of main European startup ecosystems.
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The Recipe For Creating a Successful Startup Ecosystem
- 1. The Recipe For Creating a Successful Startup Ecosystem: View of the European Startup Hubs Tzahi (Zack) Weisfeld Head of Microsoft Ventures Global Accelerators Microsoft Ventures
- 2. Networking Infrastructure (VolumeVelocity) Microsoft Ventures Mentors (Sr. Entrepreneurs) Angel Investors Government Support Service Companies (Finance, Marketing, Legal, Relevant Expertise) VCs Accessible Domain Expertise Local Success Stories What makes a healthy, active startup ecosystem? Universities Multi National R&D Centers (MNCs) Successful Startups Failed Startups Company Builders (Berlin) Army (Israel Specific) Global Tech Companies Public Markets Top Startup Ecosystem Talent Feeders Culture Exit
- 3. Comparing the Countries: Deals 2013 Startup Funding Compared - Top EU Ecosystems $2,300 $2,500 $2,000 $1,500 $1,000 $500 Microsoft Ventures $1,676 $787 $552 $392 $384 Money Deals $117 $115 662 368 196 90 77 700 600 500 400 300 200 100 39 37 37 0 $- TLV UK Germany France Russia Sweeden Denmark Finaland
- 4. Israel Number of Startups: 4,800 Startups Key Startup Clusters: Consumer Internet, AdTech, Security, Gaming, Mobile tech and apps. • High competencies in: Machine learning, Security and networking, Consumer Experiences. Microsoft Ventures
- 5. Startup Ecosystem in Israel Active M&A by MNC Accelerators, Incubators, Hubs VC’s Early Stage and Microfunds Startups CAocncesulemraetro Irns,t eInrncuetb, aGtoamrs,i nHgubs AAdcTceeclehrators, Incubators, Hubs EAnctceerplerriaseto, rSse, cIunrciutybators, Hubs 4800 3000 2500 2500 TLV London Berlin Paris
- 6. London Number of Startups: 3,000 Startups in Tech City. Key Startup Clusters: Fintech, eCommerce, Entertainment Media and Gaming. • Emerging Clusters: Adtech, Edtech, Smart Cities. Microsoft Ventures
- 7. Startup Ecosystem in London VC’s Accelerators, Incubators, Hubs Smaller Funds and Microfunds Government Encourage investments in Startups Tax Breaks (SEIS, for example) Encourage Internationalism Simplified Entrepreneur Visa Simplified Exceptional Talent Visa Encourage Flotation in London Eased regulation on new/small LSE flotation Reduce Cost of Doing Business Eased corporate taxes for SMBs Proactively support startups Committed purchasing 25% of budget from SMBs by 2015 Tech City Created an organization to create and promote a startup geographic cluster in East London. Startups FinTech CAocncseulemraetro, Mrs,o Ibnicleu,b Gataomrsin, Hgubs eACcocmelemreatrocers, Incubators, Hubs 4800 3000 2500 2500 TLV London Berlin Paris
- 8. Berlin Number of Startups: 2,500 tech startups. Key Startup Clusters: eCommerce, Consumer Internet, Gaming and Mobile Apps, Adtech. Microsoft Ventures
- 9. Startup Ecosystem in Berlin Company Builders Accelerators VC’s Euro VCs investing Microfunds Corporate Funds Incubators Hubs and coworking centers Startups AdATeccehlerators, Incubators, Hubs CoAncscuemlerear,t oMrso, bInilecu, Gbaatmorins,g Hubs eCAocmcemleerracteors, Incubators, Hubs Acquired by EBay In Munich 4800 3000 2500 2500 TLV London Berlin Paris
- 10. Paris Number of Startups: 2,500 tech startups. Key Startup Clusters: eCommerce, Consumer Internet, Gaming and Mobile Apps, Adtech. Microsoft Ventures
- 11. Startup Ecosystem in Paris VC’s Gov’t, Taxes, Regulation Accelerators Microfunds Taxes as High as 75% Drive costs up, intimidate investors Stringent Labor Laws Very difficult to fire, extensive social benefits, drive costs up. A Cultural Focus on France Impedes global scale potential, as many startups are France minded, building apps in French for France. Euro VCs investing Startup Hubs and Incubators Coworking for social entrepreneurs Startups AdTech CoAncscuemlerear,t oErnst,e Irntcauinbmateonrts, Hubs eCAocmcemleerracteors, Incubators, Hubs Search Tech 4800 3000 2500 2500 TLV London Berlin Paris
- 12. Summary • Not all startup ecosystems are created equal • Startup ecosystems differ significantly in maturity • There are critical ingredients for success • Developing new successful startup ecosystems is tough and takes time to mature • Culture is the toughest one to develop • Government approach is key to success Microsoft Ventures
- 13. Microsoft Ventures To learn more about Microsoft Ventures and the accelerator program visit our website: https://www.microsoftventures.com/
Editor's Notes
- 3000 Startups 30 accelerators in London Gov. created incentives for angel investors 150GBP EIS\SEIS 85-95M GBP for seed , 65M Angel. Avg. Seed ~170K GBP . Almost no convertibles Opening a company in minutes Simpler to IPO in UK than US Finance institutions Media and Entertainment companies
- British reserve and American exuberance may be well-worn clichés, but like most clichés they carry an underlying truth. While British and American entrepreneurs increasingly harbour similar ambitions, when it comes to articulating them, cultural norms have a tendency to reveal themselves. In pitch situations, this can materially hamper British entrepreneurs’ ability to raise money. - Robin Klein Index ventures 3000 Startups 30 accelerators in London Gov. created incentives for angel investors 150GBP EIS\SEIS 85-95M GBP for seed , 65M Angel. Avg. Seed ~170K GBP . Almost no convertibles Opening a company in minutes Simpler to IPO in UK than US Finance institutions Media and Entertainment companies
- Berlin was characterized as “Copy Cat” startups Entrepreneur type – MBA – Consultant firm type. Less engineering focused German Gov. HTGF propelled investments in startups 500K Euro for 15% equity Issues: High taxes Social benefits High legal risk to CEO and board General Risk avoidance culture
- 3000 startups Many are “stuck locally” and build a life style Also push them to “Me Too” Regulatory issues Very high taxation Social employment Culture Lack of “Giving Back” mentality Jeremy Beraby : - Entrepreneurs in Paris will exit way too soon - Lack of global tech company activities