1.
Building visibility and attractiveness abroad
Innovation Norway, September 2
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2.
Bruno
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Combination of executive/CEO role in tech with investment banking
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Founded, developed and sold a tech research business (Giga) in 1995. Sold to Forrester research in 2004
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Since 2004, have been advising European tech businesses in their corporate strategy: positioning, research analysts, Build or buy, financing, exit strategy, governance
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Currently, advisor to AGC partners and CEO of Gatewin my own company
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btourme@yahoo.com; skype: bruno.tourme
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3.
My understanding
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All of you are Norwegian tech/innovative companies
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Software, mobile, big data, fintech, clean tech
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Presence mainly in Norway and starting to expand
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Up to a few m $/euros revenues
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All growing
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All interested in being more visible and known by the financial/strategic community
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Likely to be UK and North America as a priority
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4.
What are the challenges?
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Majority of European small/mid size tech companies are not know by financial tech investors or strategic buyers especially North Americans but also In Asia and Europe
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When they decide to raise money or sell their business there is a very significant learning process in order to get them known by the market.
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Investors/buyers are much more comfortable doing business with a company they got to know over time.
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Also there is a need to adapt and deliver the right message to the community of investors: strategic or financial
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5.
What are the challenges?
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The outcome is very often a very long process, consuming time, resources, energy and often processes that are not going through
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Estimate that 50% of European m&a/fundraising processes are not delivered
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Good news:
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a lot of cash available with financial tech investors and strategic buyers
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ready to invest/acquire assets in Europe
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It is a good period
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6.
What to do?
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Identify the top 40/50 investors/strategic partners you want to be in contact with
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It is a ceo responsibility
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Build a continuous programme to visit/update them, ideally twice a year
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Quarterly update: financials, major wins, hirings etc etc..
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1 or 2 road shows/year: London/US east coast
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Non deals meetings
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7.
What to do?
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Have a very clear/concise message delivered. Differentiate from competition
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Be aware that top vendors and top tech investors receive hundreds/thousands of requests for meetings/calls
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Need to target the right guys: investors/strategic
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Need to have immediate impact
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Key USP
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Clear plan to grow
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Exit plan
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A very few companies are doing this in mainland Europe
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If you have not the time, hire an outside /flexible resource
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8.
Your key targets
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Tech investors:
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Through London you reach the majority of tech investors that may have interest in your business
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Majority of US investors have a London/European presence
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Also target selectively Boston, NYC and San Francisco
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Strategic investors:
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Majority are in US 70/80%
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Rest in Asia/Europe
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Other partners:
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Joint ventures
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Resellers, OEMs, VARs
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9.
Typical targets
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Vc’s/growth equity:
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accel, index, highland capital, dfj, kennet, Mangrove, nauta capital, Insight, Battery
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Need to have a partner involved
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Strategic:
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google, facebook, apple, sap, oracle, cisco, Microsoft, Intel, trip advisor, priceline
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Head of corporate and head of relevant products/business units
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Corporate ventures
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Cisco ventures, SAP ventures, Intel capital, Google ventures
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Top 100 strategic buyers all have a corporate investment arm separate from the company
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Family offices
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Business angels networks
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10.
In all cases
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Will always be useful
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Will tremendously help you the day
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you raise money or
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sell your business
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Can also help you build strategic partnership/JV etc…
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11.
Research tech analysts
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In the anglo saxon world, tech research guys have a real power as IT shops, marketers, executives use them for a better decision
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Gartner, Forrester, IDC, CEB, some local/verticals guys
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Magic quadrant; like it or not. Is the most used tool by any decision maker/investor in technology
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They can help you in various ways:
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Investors as they are using a lot those source of information
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Winning some businesses as decisions makers use them a lot
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Giving you some good advise regarding products/strategy
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Attend some of their tech conferences
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12.
Research tech guys
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Put a programme in place to deal with those guys:
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Select the most appropriate research firm: software, digital media, mobile, electronics, communications etc..
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Someone in charge. again It’s a ceo thing. If you can’t, hire a flexible resource
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Quarterly briefing
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Keep them updated
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Sometimes you have to spend money
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Majority of European tech business are just not doing it
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13.
What else in uk?
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Biggest place in Europe for VCs/tech investors
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Various categories of investors: then target/select smart
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Uk vs international
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Pes/buyout: mature companies
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VCs: start up
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Growth equity
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Debt/mezzanine
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14.
What else in uk?
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Since 2008 crisis, more Difficult to find 1 to 3 m euros than 10 to 20 m euros
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Target also some selected funds in Europe: berlin, Luxemburg, Barcelona
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Target some selected investors in US, east coast. Need to be investors who already done investments in Europe
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Need to very carefully select your targets
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Attend and speak to either industry or banking conferences. Be selective as they are many of those.
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15.
Q&A?
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