High Potential Start-ups and Competitive Start Fund 14 th October 2013

2 2 1 High Potential Start-ups Supports from Enterprise Ireland Agenda What I Will Cover What we will cover Competitive Start Fund

Projects we invest in Eligible  Manufacture or internationally tradable service  Management control in Ireland High Potential Usually based on technological innovation Export oriented 10 employees within 3/4 yrs, Sales > €1m

Start-up Island

Challenge of Scaling 4.1 Years Achieved by 45% 6.8 Years Achieved by 16% 7.2 Years Achieved by 8% 8.1 years Achieved by 4% 9.4 Years Achieved by 1.3% > €1m > €5m > €10m >€20m > €50m REVENUES

EI Assistance The support you can get from us depends on where you are. 1. Validating the Business Idea 2. Get to Investor Readiness Build Business Plan 3. Raising First Investment 4. Growing the Business We’re a Development Agency

Validating the Business Idea Incubators (Dublin) NDRC Launchpad Dogpatch Wayra Propellor Nova UCD, TCD campus program; Ustart [DCU accelerator] Dundalk Smart Start Greenhouse [virtual incubator] Foodworks HealthXL Startup Bootcamp Guinness Enterprise Centre Business Innovation Centres Internet Entrepreneur Support Groups Thousand Seeds Entrepreneurs Anonymous Startup Grind Lean Startup New Frontiers 150 participants €15k grant, six month program 14 Institutes of Technology Country-wide 20% female Enterprise Start Enterprise Start 2 Competitive Feasibility Funds EI website Information Store

Mentor €15k Feasibility Grant Trade Fairs €5k Innovation Voucher Value Proposition Workshop Introduction to Business Angels Introduction to VCs Investor Workshops Pitch preparation Get to Investor Readiness A Range of Supports Market Information Centre EI Overseas Office Value Proposition workshop

Coming Attraction Very early stage…

HPSU Investment Level of EI funding depends on exports, jobs & cash need EI Investment is in equity [CCRPs] Minimum of matching external funding Due Diligence - the Business Plan Market Risks Execution Risks Financial Risks Average initial investment €250k

Funding VC Funds €520 million Seed Funds €124 million Pre-Seed

Supports early stage start-ups Competitive call 4 times per year Funding = €50k matched with €5K from companies 10% Equity Panel of Serial entrepreneurs select the winners 75 companies in 2013 [5 X 15] Promoters are younger 20% Female Broad or targeted [Digital Media, Female, Aviation etc.] SPRINT development programme After New Frontiers…

Accelerators that assist their participants do better Online Application; prepare early, sample forms on EI website Video pitch; rehearse, try out on Sonru website Live pitch to the panel of entrepreneurs and EI; rehearse for maximum impact, show there is a team, Apply early; get feedback to apply again Preparation; organise some group sessions Mentors; Get local promoters who have been successful at CSF to assist Suggestions to assist applicants….