This is a presentation based on 5 years activities of a Business Angel Club founded by alumni of the Swiss Federal Insitute of Technology, EPFL. Presented at a panel with INSEAD alumni sharing experiences with successful entrepreneurs Kelly Richdale IDQ, Martin Velasco Anecova , Pedro Bados Nexthink, Marco Boella - Lemotpics with assistance of Colin Turner Greentek ventures
Navigating the Deluge_ Dubai Floods and the Resilience of Dubai International...
Business Angels in Switzerland
1. Business Angels in Suisse Romande
Claude Florin, President A3 Angels
http://www.a3angels.ch Claude Florin claude@a3angels.ch 1
2. 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.
http://www.a3angels.ch Claude Florin claude@a3angels.ch 2
3. 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
5. 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
http://www.a3angels.ch Claude Florin claude@a3angels.ch 5
11. Overview of Business Angels networks
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
Source: A3 Angels, web, in trainings indicatives
http://www.a3angels.ch Claude Florin claude@a3angels.ch 11
12. 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
http://www.a3angels.ch Claude Florin claude@a3angels.ch 12
13. Hands-on evaluation of opportunities
http://www.a3angels.ch Claude Florin claude@a3angels.ch 13
14. 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
http://www.a3angels.ch Claude Florin claude@a3angels.ch 14
15. 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
http://www.a3angels.ch Claude Florin claude@a3angels.ch 15
16. Domosafety
• Home safety systems
for elderly people
– Prevention of risks
and accidents
– Social care services
management
– Familly communication
services
http://www.a3angels.ch Claude Florin claude@a3angels.ch 16
17. 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
http://www.a3angels.ch Claude Florin claude@a3angels.ch 17
18. 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.
http://www.a3angels.ch Claude Florin claude@a3angels.ch 18
19. Sharing experience with lead investors
Investor education workshops
http://www.a3angels.ch Claude Florin claude@a3angels.ch 19
20. Education workshops
www.angelday.ch
Register to next workshop on the web site
Experts Cursus
• 17 lecturers, 8 Clubs
* Dates on www.angelday.ch
http://www.a3angels.ch
21. 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
http://www.a3angels.ch Claude Florin claude@a3angels.ch 21
22. 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
http://www.a3angels.ch Claude Florin claude@a3angels.ch 22
23. CTI Start-up survival rate > 85%
CTI Label start-ups
Companies on the market
http://www.a3angels.ch 09/04/2013 Claude Florin claude@a3angels.ch 23
24. 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
http://www.a3angels.ch
26. 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 :
http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 26
27. 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 :
http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 27
28. Mentoring case study
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
• Feedback :
http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 28
29. Mentoring case study
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
• Feedback :
http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 29
30. Meet 20 start-ups at the Seed night
May 22, 2013 at EPFL Forum Rolex
http://www.a3angels.ch Claude Florin claude@a3angels.ch 30
31. About A3 Angels
• 50 events and
presentations
– 500 participants at
events,
– >600 A3 members more…
informed
• 25 mentors
Innovation Promotion CTI
• 25 investors
http://www.a3angels.ch 19/03/2013 Claude Florin claude@a3angels.ch 31