Katarina G Bonde Chairman/director of several boards Orc Software, LBi International, Aptilo Networks, eBuilder, Propellerhead, Sjätte APfonden Coach for international expansion Carreer as CEO of several IT companies in USA and Sweden Raised capital many times and invested in other companies Other engagements Swedish Royal Opera West Wines, my winery in California

profits time International expansion Start up Financing various phases Market expansion Successful company Self Friends ALMI, Nutek Business angels Venture Capital Banker Buyout

The startup financing sources Banks Customers Distributors Owners Profit Almi, Nutek, regional funds Venture Capital (1%) Business Angels Angel Funds VC Funds

Growing in incremental steps Grow through revenues Regional funds Start up angel capital With positive sales you can go to the bank Export business - EKN Convertible debt

Tough economic times – what to do? Finance through your invoices Joint projects with customers Find your first customer and make them your biggest fan and a financial sponsor Custom build for them – streamline later Partner with distributors Partner with other companies Share office space, resources Employees Create a prepay business model Profitable – the bank will help you expand Trade your products for services/products Bartering puts a different value to services

But if you HAVE to get investors? Make sure you are ready Customers, revenues, management team Understand that valuations change with economic climate Find out who invests in your industry segment and stage Look for regional and government funds SVCA in Sweden have list of VCs and angels

Other ways to get an investor Look in another geography Some areas have more investors then entrepreneurs Make an offering to your customers Silver Lake Winery 1200 shareholders/consumers REI – 23 climbers started it. Now 80 stores and 3 million members