How we love Paris! Not just for the obvious reasons, but by holding our third Mini Seedcamp in this great city tells you that it’s an awesome hub for fresh, talented minds that always draws quality startups from the region and beyond.
With that in mind, we are very happy to announce that applications are now open for Mini Seedcamp Paris, which will take place on 15th April 2010 at the wonderful premises of Microsoft.
We are urging all webtech, software and mobile startups with innovative and bright ideas and strong teams from across France, Italy and Belgium to apply. Of course, we always have an open door policy, so if you hail from the EMEA and beyond and you feel your team is ready to show us what you’ve got, don’t hesitate and apply now.
France and its surrounding region has given us some very strong teams over the past few years including Seedcamp Winners Stupeflix and Kwaga.
As always, we are looking for strong, quality startups that have the talent, drive and capacity to fully embrace the opportunities that participating in a Mini Seedcamp brings. Which is receiving quality advice from top industry leaders and start building those key relationships to help drive your business. Relationships that normally take years to build, you’ll have access to in one day. Mini Seedcamps are not a conference, but an entrepreneurial ecosystem of support and a programme designed to strengthen and catapult your ideas into a viable business.
Past winners have recently been blogging about the importance of applying to a Mini Seedcamp, and this year even more so. The Mini Seedcamps provide the best way to have a chance at winning a spot as one of our top teams that receive investment in July 2010 and to leverage the value the programme brings. As such we encourage startups to apply to any of the Mini Seedcamps that best match the timing and progress of your business.
Check out our https://seedcamp.com/pages/resourcesfull of advice and videos, blog posts, and follow us on Twitter and Facebook to see what we’re looking for, what teams get out of it and what you can do to improve your chances in winning a spot on one of the most prestigious and rewarding web tech programs that is helping to drive and shape the European startup scene today.
Mini Seedcamp Paris will connect 20 top quality, early stage web-tech startups with over 50 regional and European esteemed sought after and highly experienced entrepreneurs, investors and developers. Through an interactive panel discussion and informal 1:1 sessions, teams benefit from engaging with and listening to a variety of distinguished mentors and industry leaders from PR, HR, product development, business development, marketing to name but a few.
You will gain invaluable insight and a solid foundation to help kick-start a viable business in Europe today. Not to mention being inspired by fellow entrepreneurs and a chance to broaden your scope within the European startup ecosystem.
Applications are now open and close at midnight on 1st April 2010. For full details, updates and how to apply go to the mini site. Good Luck!
Mini Seedcamp Prague at the University of Economics Prague was a frantic rush of startup activity. Finalist teams got to meet with entrepreneurs, investors and other mentors from the region and all over Europe, including Ondrej Bartos (Credos Ventures), Marius Ghenea (FitDistribution), Tony Kypreos (UK TI), Dave Watson (Bulldogmi), and Alan Chelko (Cisco).
But who were the winners? We were really impressed with the quality of all the teams at Mini Seedcamp Prague, but the five winners selected by popular vote were FX Bees, Middlemachine, Nelso, Peryskop, and Trustyard. Thanks to all teams and mentors for taking part.
The panel discussion focused on funding European startups. Alex van Someren (Serial Entrepreneur, UKTI) moderated the panel consisting of Allan Martinson (MTVP), Andy Chung (Eden Ventures), Tom Newbold (HT Venture Partners), Pawel Chudzinski (Team Europe Ventures).
Thanks to our hosts Ondrej Bartos and Nikola Rafaj, and also our Mini Seedcamp Prague sponsors The Tuesday Business Network, Havel and Holasek, VSE, Sun Startup Essentials, UKTI, Elephant Orchestra, and Credo Ventures.
The discussion revealed several snippets of wisdom from the experienced investor panel. Here are my notes featuring some of the best insightful comments from the panel.
How do you get funding? Tom – The five Ps of an investment are: People, passion, problem (clearly articulated), payment (who and how), potential, and prove it. Pawel – Convince the investors that you have the passion and the ambition to be successful. Being needy is a massive turn off. Andy – Need to be going after a large opportunity to entice a VC. The economics of the fund means they need to invest in companies which will become billion dollar companies.
How regional are VCs investments? Andy – Will invest all over, would rather they moved to UK so they can help them grow. Tom – Your network tends to dictate that you find the more exciting companies near your base.
What is different about the investment environment NOW which entrepreneurs need to know? Alan – VCs need to produce exits. Sadly we are at a 10 year low on raising venture funds and getting exits, this dramatically decreases the amount of investment. So there is less money, but more interesting potential investments. Tom – The bar has been raised for investment quality, increasing pressure as it isn’t clear that the company will be able to do another round. Pawel – The EU is plowing money into the wrong companies disrupting the market.
What are the things entrepreneurs should not do in a pitch? Tom – Don’t say you have no competition – because then you are saying you have no market! Alan – Understand how a VC works, associates lead to the decision making partner, so produce a short deck/document which is suitable for a partners meeting. Pawel – VC money does not equal revenue! Never say that a strategic decision depends on the preference of the investor. Andy – Always highlight the problem you are solving. Check portfolio companies as you can’t apply to a fund where you will be in competition! Don’t put in exit or revenue analysis, the fund will work that out.
What good resources are out there for startups looking for investment advice? The Startup Bible AVC, Fred Destin, your network Your network – others who have been through the fundraising process Venture hacks The funded.com Seedcamp startup tools
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