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BacktoStartupBasics&Secretsoflaunching
SuccessfulVentures
Rami Al-Karmialkarmi
ramialkarmi
#BacktoStartupBasics
F03 VENTURE P A R T N E R S
2
InsideGEMINI
MasterJedioftheEntrepreneurship&LeanStartupEcosystemsOrder
A ‘Kodak Moment’ for Universities…?
@gleonhard
not really… BUT….
The“KODAKMOMENT”
6
Feel Free to reach out @alkarmi
Execu&veChairman
F03 VENTURE P A R T N E R S
Feel Free to reach out @alkarmi
Chairman
Feel Free to reach out @alkarmi
Mentor
Feel Free to reach out @alkarmi
Execu&veViceChairman
Feel Free to reach out @alkarmi
Execu&veViceChairman
Jordan
Feel Free to reach out @alkarmi
AdvisoryBoardMember
Feel Free to reach out @alkarmi
BoardMember
18
Feel Free to reach out @alkarmi
Mentor Execu&veChairman
Execu&veViceChairman
Jordan
F03 VENTURE P A R T N E R S
Fstart
theprogram
ASK ALKARMI ON SNAPCHAT
?
HappeningNOW!AAending@sbcIstanbul#BackToStartupBasicsSessionw/@alkarmi
“ “
Entrepreneur?
42
Entrepreneurship Ecosystem
Entrepreneurs
43
Entrepreneurship Ecosystem
Entrepreneurs
VentureCapitalInvestors
44
Entrepreneurship Ecosystem
Entrepreneurs
VentureCapitalInvestors
CorporaHons
PotenHalacquirersStrategicinvestors
45
Entrepreneurship Ecosystem
Entrepreneurs
VentureCapitalInvestors
CorporaHons
PotenHalacquirersStrategicinvestors
UniversiQes
Professions
Management
Government
46
Entrepreneurship Ecosystem
Entrepreneurs
VentureCapitalInvestors
CorporaHons
PotenHalacquirersStrategicinvestors
UniversiQes
Professions
Management
Government
PublicStockMarket
PoolsofPrivateCapital
47
Entrepreneurship Ecosystem
Founders
Funders
Facilitators
UniversiQes
Professionals
Management
Government
PublicStockMarket
PoolsofPrivateCapital
48
Entrepreneurship Ecosystem
Founders
Funders
Facilitators
UniversiQes
Professionals
Management
Government
PublicStockMarket
PoolsofPrivateCapital
� F
F03 VENTURE PARTNERS
Runway ?
65
Lifecycle of an Entrepreneur
Idea Formation Growth
Exit
66
68
Business
Schools teach
OUTDATED Startup
tools
69
�Valley of Death�
Research Grants Development Grants (eg SBIR)
Friends, Family, & Founders($5-$50k)
AngelInvestors($50-$500k)
Funding
Early StageVenture Capital($500k-$2M+)
Venture Capital($2M-$50M)
Private Equity,Project Financing($2M-$50M)
IPO, Merger, or Acquisition($2M-$50M)
Stage of Venture Development
Idea Basic Research
Applied Research
Proof ofConcept
Target Market
BusinessPlan
EngineeringPrototypes
SupplierContracts
ProductIntroduction
RevenueGrowth
ProductionPrototypes
DistributionContracts
Working Prototypes
Founding Team
NetCash Flow
➡ >95%ofstartupsfail➡ VCsfund1%ofsubmiAedbizplans
70
It�sallaboutexecuQonofapredefinedplan
TheLeadingCauseofStartupDeath
ProductDev.
2Alpha/BetaTest
3LaunchProduct
4
WhereCustomer?
PitchInvestor
1CustomerDev.
5
Insidethebuilding
71
No Business Plan Survives First Contact With Customers
Startups/New Ventures Are Not Smaller Versions of Existing Companies
Startups/New Ventures need their own tools
73
From Yesterday's Outdated Tools To ...
Insidethebuilding
Remove the fluff
75
AgileDev.
CustomerDev.
BizModelCanvas
... Today�s Tools LeanStartup
Outsidethebuilding
76
Business Model Canvas
?
Customer Development The Search For the Business Model
Company Building
Customer Discovery
Customer Validation
Customer Creation
Pivot
Out of the building !
GET
Keyhole
$14 Billion worth of PREORDERS in 5 days
By April 7th : 325,000 PREORDER !
1,000 songs in your pocket
4GB MP3 Player 89mm X 41mm X 6.9mm 176 X 132 Pixel Screen 42.5 g weight
NOT
Japanese Rice Cooker inspired the MagSafe laptop AC adapter
106
BacktoStartupBasics&Secretsoflaunching
SuccessfulVentures
Rami Al-Karmialkarmi
ramialkarmi
#BacktoStartupBasics
F03 VENTURE P A R T N E R S
108Top 20 Reasons
109
#1 – Building a solution looking for a problem, i.e., not targeting a “market need”
#BackToStartupBasics 42%
110
#2 – Ran out of cash
29% #BackToStartupBasics
111
#3 – Not the right team
23% #BackToStartupBasics
112
#4 – Get outcompeted
19% #BackToStartupBasics
113
#5 – Pricing/Cost Issues
18% #BackToStartupBasics
114
#6 – A “User Un-Friendly” Product
17% #BackToStartupBasics
115
#7 – I got this product. Now I just need a business model.
17% #BackToStartupBasics
116
#8 – Poor Marketing
14% #BackToStartupBasics
117
#9 – Being inflexible and not actively seeking or using customer feedback
14% #BackToStartupBasics
118
#10 – Release product at the wrong time
13% #BackToStartupBasics
119
#11 – Lose Focus
13% #BackToStartupBasics
120
#12 – Disharmony with Investors/Co-founders
13% #BackToStartupBasics
121
#13 Pivot Gone Bad
10% #BackToStartupBasics
122
#14 – Lack Passion and Domain Expertise
9% #BackToStartupBasics
123
#15 – Location, Location, Location
9% #BackToStartupBasics
124
#16 – No Financing or Interested Investors
8% #BackToStartupBasics
125
#17 – Legal Challenges
8% #BackToStartupBasics
126
#18 – Do not use your connections or network
8% #BackToStartupBasics
127
#19 – Burn Out
8% #BackToStartupBasics
128
#20 – Failure to pivot when necessary
7% #BackToStartupBasics
2
129
#StartupBasics
132
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135
136
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