how can we develop the growth potential of early- stage ...€¦ · growth potential of early-stage...
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How Can We Develop the Growth Potential of Early-
Stage Ventures?Kjell-Håkan Närfelt
Chief Strategy Officer, [email protected]
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Is the European Challenge a Funding Gap?
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Performance of US and EU Seed Funds?
Fund type 3y 5y 10y 20y
US Early/Seed 1.7 3.7 36.0 21.8US Balanced 4.6 8.4 13.5 14.5
US Later Stage 9.4 8.7 7.5 14.5US All ventures 4.3 6.4 15.5 17.0
NASDAQ -10.3 -4.6 -3.2 7.3S&P 500 -10.0 -4.0 -3.0 6.1
EU Early/Seed -1.7 -0.2 -2.4 -1.1EU All Ventures 0.0 2.1 0.4 3.1EU All Buyouts 8.5 14.1 13.3 14.1
Source: Thomas Reuters Performance Data 2008-12-31
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Is More Money Making the Performance Better?
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Are we working effectively?
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BusinessGrowth
Business Operation
TechnologyInvention
Business Plans, Patents, Prototypes
Valorisation of Research and Technology – Current Situation
Requirement: A Newco AB
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After You Have Received Funding…
• It’s all about product development…
• …and execution...– Drives organisation
development– Drives sales and
marketing– Drives costs
Prototyping
Alpha test
Beta test
Lauch
Business Operation in early stages
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Do ventures fail due to the lack of products or technologies?
No, they fail because they lack customers and proven business operations
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BusinessGrowth
TechnologyInvention
Business Operation
• Business System
• Beachhead on market
• Operational Effectiveness
Business Invention
• Verify Business
concept & customer
value proposition• NABC
Valorisation – A Reference Model
• Operational Efficiency
• Innovation
Business Creation
• Verify Sales process &
Business Model• Reference
Customers• Investor Value
Proposition
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From funding gaps to investment readiness
it’s about customer driven invention and verification of business concepts
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From product development and execution to learning and discovery driven processes
it’s about understanding and discovering what will make your venture successful
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Thanks for Your Attention!