Ce diaporama a bien été signalé.
Nous utilisons votre profil LinkedIn et vos données d’activité pour vous proposer des publicités personnalisées et pertinentes. Vous pouvez changer vos préférences de publicités à tout moment.

10 Challenges for Emerging Market Startup Ecosystems

25 397 vues

Publié le

slides from my talk at PreMoney Bahrain (Dec 2015)

10 Challenges for Emerging Market Startup Ecosystems

  1. 1 0 C H A L L E N G E S F O R E M E R G I N G M A R K E T S TA RT U P E C O S Y S T E M S @ D A V E M C C L U R E @ 5 0 0 S TA R T U P S 5 0 0 . C O
  2. Dave McClure
 Founding Partner & Troublemaker, 500 Startups 00’s & 10’s: • VC: Founders Fund, Facebook fbFund, 500 Startups • Angel: Mashery, Mint.com, SlideShare, Twilio • Marketing: PayPal, Simply Hired, Mint.com, O’Reilly 80’s & 90’s: • Entrepreneur: Aslan Computing (acq’d by Servinet/Panurgy) • Developer: Windows / SQL DB consultant (Intel, MSFT) • Engineer: Johns Hopkins‘88, BS Eng / Applied Math
  3. • What is 500? – $200M under management – 100+ people / 30 investing partners / 18 Countries – 2500+ Founders / 250+ Mentors • 1300+ Portfolio Co’s / 50+ Countries – Wildfire (acq GOOG, $350M) – MakerBot (acq SSYS, $400M) – Viki (acq Rakuten, $200M) – Simple (acq BBVA, $117M) – Credit Karma (~$3.5B) – GrabTaxi ($1B+) – Twilio ($1B+) – Ipsy – SendGrid – VivaReal – Udemy – Zozi – The RealReal – Virool – BarkBox – Tradesy 500 Startups
 Global Seed Fund & Startup Accelerator
  4. 1 ) T H E R E A R E N ’ T M A N Y I N V E S T O R S . M O S T O F T H E M A R E E V I L O R S T U P I D . • low valuations and crappy terms: “51% for $100K” • supply vs. demand problem; fewer investors than startups, lack of competition = no urgency, • NO to business plans / revenue projections • YES to mktg plans, expense projections • wins & exits => FOMO, competition increases
  5. 2 ) T H E R E A R E N ’ T M A N Y E N T R E P R E N E U R S . M O S T O F T H E M A R E C L U E L E S S . • more mentorship, more founder experience • product management, design & UX, growth hacking & marketing • changes after 1st gen founders exit -> 2nd gen startups
  6. 3 ) T H E R E A R E N ’ T M A N Y C U S T O M E R S . M O S T O F T H E M D O N ’ T PAY. • no longer true; 3B+ smart phones; massive mobile market • increasing internet availability + rising consumer GDP • improved payment & logistics • local/regional markets are BIG • access to global markets easier
  7. 4 ) S TA RT U P S D O N ’ T H AV E T R A C T I O N , A N D N O I D E A H O W T O G E T I T. • Growth Hackers -> DISTRO • STOP building product features; START growing customers (via online platforms) • unit economics: CAC vs. CLV, timing of revenue & expense, conversion metrics • find profitable, high-volume customer acquisition channels that convert to KPIs, learn how to grow them
  8. 5 ) T H E R E A R E N ’ T M A N Y E X I T S . M O S T O F T H E M A R E S M A L L . • where are the unicorns? • acquirers crossing borders to find talent (US, EU, China, Japan, etc) • non-tech companies acquiring startups for innovation • global companies looking for emerging market footprint • local -> regional -> global growth
  9. 6 ) I N V E S T I N G I N R E A L E S TAT E I S B E T T E R B E T T H A N I N V E S T I N G I N S TA RT U P S • startups aren’t real estate! • real estate doesn’t go up forever • most startups fail completely • but a few startups grow up to be unicorns • use real estate to lower risk, drive liquidity
  10. 7 ) M O S T A C C E L E R AT O R S S U C K . A N D T H E Y ’ R E G O I N G T O D I E . S O O N . • Accelerator economics are tough. • Most startups fail. Most wins are small. Big wins take time (5-10 years). • Most accelerators are under-staffed, under-capitalized, short time horizons. • Accelerators should verticalize, focus on industry-specific expertise, get corporate / academic / govt sponsors • Create operational capital via investment; use real estate to hedge risk, be creative
  11. 8 ) E M P L O Y E E S D O N ’ T U N D E R S TA N D E Q U I T Y. F O U N D E R S D O N ’ T G I V E I T T O T H E M . • equity should be distributed widely among team (not just founders and management) • when exits happen, a thousand angels are born • US: PayPal, Google, Facebook • CHINA: Alibaba, TenCent, Baidu • MENA: Souq + ? • create equity culture, angel investor culture
  12. 9 ) M O S T S TA RT U P S N E V E R G O G L O B A L . M O S T T H AT T RY W I L L FA I L . • startups have to start SOMEwhere • some local & regional markets are BIG India, Turkey, Brazil, Indonesia, MENA • 50-100M customers good place to start • hard to jump to global markets without local market MVP, product/market fit • you don’t need to go to Silicon Valley, get Silicon Valley to come to YOU.
  13. 1 0 ) M O S T F O U N D E R S & I N V E S T O R S D O N ’ T T H I N K T H E Y ’ R E A S G O O D A S S I L I C O N VA L L E Y. • Silicon Valley isn’t a place, it’s a State of Mind. • Most startups in Silicon Valley came from somewhere else (PayPal, WhatsApp, FreshBooks) • The biggest problem isn’t lack of experience, it’s lack of confidence (for both investors & founders) • You’re Good enough. You’re Smart enough. Get Going!