tectalks | miguel & uniplaces - things i learnt along the way
DESCRIPTION
Miguel's presentation @ TECtalks (October 2012)TRANSCRIPT
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Thanks. But who am I?
Miguel…
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8
Equipa > Ideia(s) > Startup Portugal à América do Sul
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UniPlaces will become the dominant property portal for accommodation in university cities.
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Our vision involves building a strong brand in the university communities together with a strong technological platform, whilst raising quality & safety
standards in all markets we operate in.
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Founding Team Ambitious. International. Diverse.
Mariano Kostelec (ARG)
Ben Grech (ENG)
Miguel Santo Amaro (PT)
Leo Lara (ES)
International team with strong technical and commercial experience Fluent in 5 languages, work experience with leading firms in Europe, Asia & North America, exceptional educational history
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Prototype Value for all users – Lean Startup Model
Students
Property Managers
Universities
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Solution Real search. Scalability.
Students
Property Managers
Universities
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Technology Search accommodation near your university or faculty
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Portugal, Spain, Brazil, Chile, Argentina
International Markets & Expansion
11.2m Students in our target markets
23%+ Students seek privately rented accommodation
265k+ Intl. students, quickly growing
610k+ Student homes
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Selling synergistic products & services
Transaction commissions
Future Growth Adjacent opportunities
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Bootstrapping (Lean)
November Now
Gained over 4,500 property listings
25 exclusive partnerships
Proof of concept revenue from early users
Launched new platform
Closing seed Round $$$
South American launch in Chile
Established in-house product development team
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The Vision International. Ambitious
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Business Plan The Template: www.sequoiacap.com/ideas
A lot of precise info. Few words. 15-20 slides.
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Business Plan But…
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Biggest Challenge? Financing. Recruiting. Expanding. Business. Tech. Marketing. Pricing / Rev. Location. Funding
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Location Does it matter?
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Why starting in Lisbon? The most common question among VCs, friends, employees, etc.
Why not?
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Starting your own business or
joining an established company?
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Is it a good idea?
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1. +$1 billion addressable market 2. Valid business model
3. <$2 million in seed / $15 million series A 4. Top player: geography, segment.
5. Scalable 6. No risk of disintermediation
7. Rapid growth market 8. You know how to execute
9. An idea that I like and want to do
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Bootstrapping Competitions
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Raising Too many myths.
Are there business angels in Portugal?
Smart Money
BA / VC / PE
54 “En'dades Veículo”: €42 million.
Term Sheets
LOI
Is it the right time?
QREN?
Speak to them all at once? Should I approach them?
Valuation?
Location? International? Syndicated Investment
Shareholders Agreement
Reverse Vesting Preference Stock
Leaver Clause
Exclusivity
SA or LDA
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The Nine Stepts to the Epiphany
1. Team 2. Market
3. Prototype 4. Full-‐'me
5. Advisory Board 6. Iterate (Be humble. Listen to the market)
7. Prove the model 8. Scale
9. Enjoy the ride. It should be fun!
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Read! Free advice.
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Startup Heroes Celebrate Success. Role models in Portugal.
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“Whatever you can do, or dream you can, begin it. Boldness has genius, power and magic in it.”
-Goethe
miguel.santo.amaro