State of the Startup Community Address 2K16
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Hundreds of entrepreneurs have hit the ground running this year. Together we’re a part of movement, of people choosing to control their own futures by starting a business. Together we’re a community and we have momentum. Much like the President’s State of the Union, or a State of the City Address, we organized the State of the Startup Community Address to let you know what we’ve collectively accomplished this year, and what to look forward to next year. We present the good, the bad, and the ugly, with no fluff. Slover Library. January 21, 2K16 http://startwithhatch.com/ssca/
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State of the Startup Community Address 2K16
- 1. http://gph.is/1P88H6d Sta te o f t h e S t ar tu p Co m m u n i t y A d d r e ss EST. 14 NFK-VB
- 4. VIRGINIA SBDCH A M P T O N R O A D S
- 5. Last Year...
- 6. Last Year...
- 7. Last Year...
- 8. Last Year...
- 9. Last Year...
- 12. Crossfit • High intensity interval training • Started in 2000 • 13 gyms in 2005 • >10,000 in 2016 • 41 local gyms • Net Worth of 4 Billion • Millions of users
- 13. The Crossfit Games • World-renowned as a grueling test for the world's toughest athletes • Started in 2007 • Reebok Partnership • 275K competitors • 2015 Champion: Ben Smith
- 15. RUFIT • Fitness event hosted at Virginia Beach Oceanfront • A platform that promotes strong, healthy, living through activity, education and community.
- 18. HILLIER IGNITE OUTDOOR GYM HILLIER IGNITE OUTDOOR GYM
- 20. “Uber for shipping containers”
- 21. Order fulfillment customized for simplicity.
- 24. • 2015 Award for Best Landscaping Busch Gardens
- 25. • Apollo’s Chariot wins #6 best roller coaster in the world. Busch Gardens
- 26. VB Arena
- 32. FUNDING
- 33. Angel Investing An affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. A small number of angel investors invest online through equity crowd- funding or organize themselves into angel groups to share research and pool their investment capital, as well as to provide advice to their portfolio companies. FUNDING
- 34. A group of accredited businesses and individuals that invest in companies in the Hampton Roads area. 757 Angels FUNDING
- 35. Fastest Growing Group FUNDING Launch 12 24 36 48 60 72 84 96 108 120 Cycle #1 Cycle #2 Cycle #3 757 Angels National Average
- 37. 757 Angels FUNDING 400 800 1200 1600 2000 2400 2800 3200 3600 $3MM 757 Angels National Average Direct Investment: $1.9MM Indirect Investment: $1.1MM $1.2MM
- 38. VENTURE FUNDING
- 39. • Created in ODU dorm room • Friends looking to start a niche social network • Found access to capital in Denver • April 9th, 2015: IPO • Currently valued between 48 & 75 Million MassRoots VENTURE FUNDING
- 40. • Raised money from leading angel inves- tors in Silicon Valley, including CTO of FB/founder of Quora, creator of gmail, and president of Y Combinator • Has grown 20% month over month since launch in June 2013 • Now the largest mental health delivery system in the world with 120k listeners, across 189 countries, providing support in 140 languages 7 Cups of Tea VENTURE FUNDING
- 41. • Leesa is a single, beautifully designed luxury mattress that's ordered exclusively online and delivered straight to your door • Raised $9MM • Officially launched on January 15th 2015 • Ended the year at just under $30m in sales • Created over 30 tech/digital commerce jobs in Virginia Beach Leesa VENTURE FUNDING
- 42. The practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet. Crowdfunding VENTURE FUNDING
- 43. • We looked at the major online crowdfunding platforms • Selected the projects from the area over the past 3 years that made at least $9K Crowdfunding VENTURE FUNDING
- 50. $43,863 RAISED Tidewater Comicon • Founder Mike Federali who sold his entire comic book collection at garage sales, flea markets to make the show possible • Moved to a 37,000 sq. ft. space at the Virginia Beach Convention Center • The 2015 show broke it’s previous attendance record with over 16,000 excited fans and families.
- 51. RAISED $18,760 • The first microbrewery in Chesapeake, Va. • Jim Lantry is the head brewer who began in 2000 and has produced award winning pale ales and Russian Imperial Stouts • Big Ugly is named after the company president’s 1955 Chevy panel truck seen in our logo. Big Ugly Brewing
- 52. Industry Trends
- 53. • Necessary to bootstrap, West Coast companies are not as big here • Funding is NOT the most important thing for a small business to succeed • It’s creativity, drive, and hard work • The finances will happen naturally Funding FUNDING
- 54. Kauffman Index The Kauffman Index: Startup Activity has three components: • Rate of New Entrepreneurs: an early and broad measure of business ownership • Opportunity Share of New Entrepreneurs: a proxy indicator of the percent of new entrepreneurs starting businesses because they saw market opportunities • Startup Density: the number of startup firms divided by total population of a place
- 55. Kauffman Index
- 56. Kauffman Index
- 57. Kauffman Index
- 59. Four categories: 1. Meetups 2. Events/Conferences 3. Pitch Events 4. Spaces Meetup Scene
- 61. Meetups P.I.T.
- 62. Open Build Night
- 65. Programs
- 66. • Provide entrepreneurs, startups and small businesses with the amenities, counseling, and services necessary to grow a successful business
- 67. Pitch Events
- 69. Resources
- 71. OFFICE SPACE
- 72. OFFICE SPACE
- 73. For new businesses: Businesses are selected to create vibrant and compatible businesses in Downtown Access to spaces at 50% market rent for two years These business owners will also receive a $20,000 kick-start grant. OFFICE SPACE Vibrant Spaces
- 74. For existing businesses: May also submit ideas for funding to make their businesses more exciting and vibrant. $60,000 in matching grants available Ideas can range from sidewalk activa- tion, upgrades to storefronts, improving signage, or adding outdoor seating or a rooftop option OFFICE SPACE Vibrant Spaces
- 78. Local Breweries
- 79. Local Wineries & Distilleries
- 81. Arts Districts
- 82. Arts & Crafts
- 83. Makers
- 84. Music News
- 86. Big Names to the Area
- 87. Start the Spark Emerging Global Entrepreneurs White House Conference
- 88. • Virginia Velocity is for the next stage; for entrepreneurs looking for a boost to their companies and a new level of growth. • 1 Million invested every year to 2 categories of busiesses: - Bioscience - Energy
- 89. 1st place Nationwide for Bioscience:
- 90. • World’s leading eCommerce platform • $10 Billion in revenue to date • >162K merchants in 150+ countries • Holds a “Build a Business” competition every year to the NEW startup with the best 2 months of sales • Wins an extensive prize package of mentorship and exposure
- 97. Closing Thoughts
- 99. Companies Innovating In Their Industiries
- 100. Sta te o f t h e S t ar tu p Com m u n i t y A d d r e ss EST. 14 NFK-VB