Business Angels in Switzerland

Business Angels in Suisse Romande
Claude Florin, President A3 Angels

http://www.a3angels.ch Claude Florin claude@a3angels.ch 1

Business angels in Suisse Romande

• Overview of Business Angel networks in
Switzerland and their impact on the investment
in early-stage technology companies
• A look at case studies of startups supported by
A3 Angels with investments, mentoring, Alumni
network.
• Suggestion of events and trainings sponsored by
Alumni networks
• Presented at panel by INSEAD and EPFL
alumni, April 2013.

Leveraging Swiss Innovation leadership

1 2 3 4
European
Innovation
Scoreboard 2013
INSEAD Global
Innovation Index
2012

WEF World
Competitiveness
Index 2010-2011

http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 3

Technology startups : >150 / year
(~50 in Romandie)
CTI coaching Domain
registrations, admissions, labels
180 171
160
Information,
160 148
telecom, media
143 141
Biotech & Life
140 130
sciences
number of companies

120 Medtech
96 97
100
100 88 91 92
Engineering
80

60 Interdisciplinary

40
25 25 24 26 27
22 Cleantech
20

0 Micro- Nanotech
2007

2008

2009

2010

2011

2012

year
Source: CTI, Switzerland - Q1 2013 : 24-17-2 West : 11-6-2 Source: CTI Phase 3 – Q1 2013 N=99


Seed funding ~ mountain guide spirit
Every year CHF 50M from BAs
• Business Angels evolution
– More professional
– Co-investment with public funds
(FIT, Fongit, ZKB) and regional VCs
– Networked (CTI-Invest, SECA)
Revenue / EBITDA

BA Ns
Angels syndicates
Grants Crowd
Banks,
FFF funding
Customers

Venture
Capital

> CHF 50M


Seed investments in Switzerland
(M CHF)
300.0

250.0
+40%
200.0 7M
50M
150.0
-50%
100.0

50.0

0.0
2007 2008 2009 2010 2011 2013
Q1-Q3
VC start-up VC seed Business Angels

Source: EVCA/PEREP Analytics, conversion €=1.22 CHF / EBAN 2007-2008 / CTI for 2013, A3 Angels 2009-2012

http://www.a3angels.ch

Swiss Business Angels
Investissement per capita
Networks and members CHF / hab
• Networks 15

10

5

0
• > 300 investors
• > CHF 50M / year
• >40 investments € M/ M # deals/ M
• Multidisciplinary Source : A3 Angels ; Nelson Gray, EBAN


Overview of Business Angels networks

A3 Angels BAS
Members >45, mentors + Members 58 (29 Suisse
investors Romande)
Structure Association alumni Structure Association, volunteers,
mentoring et 2 directors
investments seed Meetings/ye 10 diners
Meetings 10 diners, seed night, ar
/year trainings # 30 /year
# 40 startups / year Evaluations
Evaluations Portfolio 34
Portfolio 21 (7 + 16 mentoring), Notes Founded 1997, 2007 en
> 1M CHF Romandie
Notes Founded 2009
Source: A3 Angels, web, in trainings indicatives



Go Beyond Investiere
Members est. 50 CH (100 total) Members 2000 web subscribers
Structure Company, 5 FTE, 5-10 Structure 3 Directors,
groups, trainings, group crowdfunding platform,
leaders 11% success fee,
Meetings/ye 3 x 6 in Switzerland + quality due diligence
ar web Meetings Online deal
# 15/year + web /year presentation
Evaluations # 8-15/year
Portfolio 20 startups Evaluations

Notes Cross border (I, FR, UK, Portfolio 13 startups, 4.2 MCHF
USA) + social impact Notes Bureau GE, ZH
investing


Crowdfunding

Germany Switzerland
>5M€ - 58 investments Equity-based
6 • Investiere (Verve Capital)
5
4 • Founded 2010, 14
3 investments CHF 5M
2 • C-Crowd
1
0 – Founded 2011, 2
investments, CHF 0.7M
Project-based (examples)
– wemakeit.ch
Total Seedmatch
– 100-days.net
Innovestment 8 other
Source: LMU Forschungsdatenbank Crowedinvesting



Capital proximité CTI-Invest
Members 800 investors, Club des Members 77
repreneurs 60% HNWI, Structure Association, BA and
15% industry, 25% VCs, pitch organization
management
Meetings 5 + CEO day
Structure Association, 2 /year
managers, 12 business
advisors, 6% fee # 60 / an
Evaluations
Meetings 10 startups
/year Portfolio 100, 350 M CHF from
all investors
# 100 , mostly SMEs
Evaluations Notes Training program,
lunches / industry
Portfolio >120 operations roundtables, CEO day
Notes Founded 1995


Typical profile of Business Angels
Mentors Seed investors
Profile  Experienced  40-50+
entrepreneurs  professionals, career
 Senior managers 50+ transitions
 CXOs in SMEs

Investment  5- 10 days/year  >10’000 /year for 3 years,
Accredited investor in team
member of 1-2 Clubs  5 days/year
Motivation  Revenue  Network and advice in
 Mentoring, support to area of focus
young entrepreneurs  Revenue
 Social network  Learning experience
 Regional or technology  Technology interest
interest


Hands-on evaluation of opportunities


Building a portfolio across technologies
Examples

Swiss Biotech, Intraining, Cleantech Interdisci-

startups
Medtech telecom,
media
plinary EU startups
Biotech & Life
sciences
Medtech

Information,
telecom, media
Manufacturing

Cleantech

Interdisciplinary

Finance

Source: EBAN, quoted by OECD 2012
Source: Web


Your health bank
• Intraining services
– Generation, analysis, and
secure, storage of gene
sequence data.
– Easy access and clear,
interpretable visualization.
• Pre-symptomatic
surveillance
– breast and colorectal
cancers,
– cardiovascular diseases

Source : A3 Angels – voir le site web de l’entreprise pour intrainings complètes


Domosafety

• Home safety systems
for elderly people
– Prevention of risks
and accidents
– Social care services
management
– Familly communication
services


Implantable drug delivery
• Implantable wirelessly-
controlled pump
• Dedicated to preclinical
research
– No injections,
– Dosing remote control
– Targeted delivery <2 ml
– multiple solutions refill
– Short/extended periods


Micro-projectors
• MVIEW ultraminiature
laser microprojector
based on MEMS.
• Applications
– head-up (HUD) displays in
vehicles,
– helmet-mounted (HMD)
displays,
– smartphones and other
mobile devices.
– 3D sensing, printers and
industrial sensors.


Sharing experience with lead investors
Investor education workshops


Education workshops
www.angelday.ch
Register to next workshop on the web site

Experts Cursus
• 17 lecturers, 8 Clubs

* Dates on www.angelday.ch


The 4 risks to mitigate
• Product risk • Technology, patents

• Financial risk • Cash and financing
management
• Human factors • Entrepreneur + team

• Market risks • Business model,
customer demand
Source : Peter Pfister, Start Angels, Presentation Angel Day, 2012


BA teamwork improves success

Evaluation process CTI start-up process

3% high
~ 40 flyers
50%
Screening 25% CTI label
3% success
5
Evaluation (~ 170) ~120 ~ 30
~20
Due diligence (~ 50)
14% runners
~4
80% fail
Investment
5-10 %

Source: A3 Angels estimations Source: adapted from CTI data 2012


CTI Start-up survival rate > 85%

CTI Label start-ups
Companies on the market


Impact of “lead investors”

Experience sharing Impact
– Strategies 80
%
– Problem management 60
– Goodwill
40

20

0
less 1X to 5X to 10X to more
than 5X 10X 30X than
1X 30X
No industry experience
Some industry experience
Source : OECD 2011 “Financing high-growth firms : the role of angel investors”
Sources: Kaufmann foundation 2007 survey of 539 BAs N=3000, NESTA-BBAA “Siding
with the Angels”- May 2009


Mentoring workshops
Raphael Rollier, Mentoring program manager


Mentoring case study NanoLive

Mentoring workshops Mentee : Yann Cotte
• Tag line : “see the life in
3D” - microscopy to see
living cells without dye.
• Mentors : 2
• Duration : 6 months
• Sessions : 5, face to face
• Topics : market, pricing,
milestones
• Feedback : 


Mentoring case study

Mentoring project Mentee : Thomas Leurent
• Tag line : user-friendly,
high-fidelity simulation
software
• Mentors : 4 + MIT VMS
• Duration : 1 year
• Sessions : 8 face to face
• Topics : IP, fundraising,
DD, management, sales
• Feedback : 



Mentoring project Mentee : Nicolas Durand
• Tag line : user-friendly
allergy diagnoses
promoting personalized
medication
• Mentors : 4 in 2 phases
• Duration : 3 years
• Sessions : > 12 x 1.5h
• Topics : conflicts,
network, friends

Mentee :
Mentoring project Samuel Sonderegger
• Tag line : observation at
nanoscopic scale for
quality control of
semiconductors.
• Mentors : 2
• Duration : 1 years
• Sessions : 6
• Topics : board creation


Meet 20 start-ups at the Seed night
May 22, 2013 at EPFL Forum Rolex


About A3 Angels

• 50 events and
presentations
– 500 participants at
events,
– >600 A3 members more…
informed

• 25 mentors
Innovation Promotion CTI

• 25 investors


Business Angels in Switzerland

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