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Point Nine at Hive61, Poznan January 2014

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Slides from Pawel's talk at Hive61 in Poznan that, amongst other things, covered our view on the Polish startup ecosystem.

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Point Nine at Hive61, Poznan January 2014

  1. 1. @ Poznan, 29.1.2014
  2. 2. About .9 The Angel VC: •Up to 1m EUR •Berlin-based •SaaS •Marketplaces About me: •Born/raised in PL •Moved to DE at 17 •Worked in finance •Startups since 2008 (angel, TE, Point Nine) Quite active in Poland (incl. previous private involvement of team):
  3. 3. Crowdsourcing works
  4. 4. Topics for today 1) Point Nine’s investment criteria 2) Going international 3) Polish vs. German / Berlin startup community
  5. 5. Investment Criteria
  6. 6. Criteria: stage = .9 Seed Series A Investment 
 Round Size €100k - €1M €1M - €10M Sources 
 of Capital Family & Friends
 Crowd-funding Venture Capital
 Super Angels Point Nine Capital invests between €100k and €1M during Pre- A and A rounds in companies at various revenue stages Later Stage
 Series B, C and D €5M - €25M Venture Capital
 Growth Equity Pre-IPO
 Private Equity >€20M Late-Stage VCs
 Corporate VCs
 Hedge Funds
  7. 7. Criteria: geo Company based in: •Europe •Outside: English speaking markets Target market: •Global / international / multi-local
  8. 8. Space: SaaS, marketplaces, et al. We love SaaS: •vast experience: •big trend, great business model if done right We love marketplaces and network effects: •examples: •hard to get scale, but durable and powerful once there Fast growing consumer Exceptions happen, esp. for amazing teams
  9. 9. Going International
  10. 10. Going International 1. “Flat” global / international product from the start • Esp. applicable for SaaS 2. Multi-local: • Esp. in marketplaces: Delivery Hero, Brainly, Docplanner
  11. 11. “International” product Examples: ! ! “Easy” to start, can be centralised for long time Typically competitive, expensive marketing Sales might still need to be local, esp. to larger accounts
  12. 12. “Multi-local” product Examples: ! ! Logistical challenges to launch local versions Frequent local competition, little global competition International scale helps win local markets Tough and expensive (but well possible) if physical goods involved (e-commerce)
  13. 13. 3 thoughts on the ecosystem in PL
  14. 14. 1. Talent: engineers vs. managers We are proud of our IT/analytical skills
  15. 15. 1. Talent: engineers vs. managers We underestimate the commercial side Lack of management/sales/marketing talent They are needed a lot! …but do not have to wear suits :-)
  16. 16. 1. Talent: engineers vs. managers …and sometimes it feels like this Can do this: Can’t do that: Which one is harder / more important?
  17. 17. 2. Decentralisation is good…but not in tech! No-one knows which is the key city in Poland for tech: !
  18. 18. 2. Decentralisation is good…but not in tech! Hubs are very important in tech due to cluster effects: • SV, Tel-Aviv, London, NY, Berlin best known • Urban, attractive areas to live in (young ppl!) • All skills, financing, entrepreneurial drive in one place • We all know this…
  19. 19. 2. Decentralisation is good…but not in tech! …and we are building technology parks in forests… ! Germany (and others in Europe) had similar ideas There was no political plan for tech in Berlin
  20. 20. 3. International isolation - PL scene is … Polish • Berlin is part of the international tech ecosystem • Is Poland? Certainly not yet, hopefully getting there • Internationality key - best practices, (commercial) talent
  21. 21. 3. International isolation - PL scene is … Polish We cannot reinvent all wheels ourselves ! ! ! ! ! ! esp. in commercial areas, like marketing, sales, general management.. !
  22. 22. 3. International isolation - PL scene is … Polish What can we do? Gov programmes (KFK) seem to promote international isolation (check www.pawel.ch) International investment works best - facilitate it! (a few internationally oriented VCs have appeared: Protos, Giza, Innovation Nest) Initiatives help: