We asked Greg from hub:raum Kraków to write few simple tips for startups that are in search of Investors. Hope you'll like it!
There are probably many guides which tell you how to talk to potential investors. However, it seems that there is never enough of them as the same mistakes are often repeated by huge number of startups. Some summary from my experience you can find below:• Always know who are you talking toFor many statuppers investor group is homogenous. But that is a mistake. You get different approaches. Some are looking for big return on equity deal, other might have more diverse goals.
Financial Investors like seed or venture funds are usually pursuing investments for high IRR (return for their investors) with perspective of 3-5 and maximum of 7 years. Usually they are looking for more mature products or at least with MVP. Accelerators will be more flexible and are typically looking for an exit with some of the follow up rounds. They accept usually earlier stage projects, even without proper go2market approach or business models. Actually, they might even help you to develop them!Business angels – they might be pursuing their own strategy, check what they were up to lately to know what you might expect. They might be looking for something to matchCorporate funds – this group is a bit different. Usually they are pursuing some general strategy like expanding the product portfolio of subsidiary companies. However, in rare cases they could also be entrusted with investments of free cash flow from other operations, but it is a rare case.• Prepare yourselfAs mentioned above potential investors vary a great deal. Therefore they will have different expectations about what you will present. Whether it is a business plan, an excel spreadsheet, deck, user case study. I realize it would be really great to have one fit-for-all package but you have to make at least some effort to match the potential investors expectations. And that doesn’t mean just putting their name on the first page of the deck!• PortfolioCheck what is already there in investors’ portfolios. See if your project competes directly or indirectly with any of the current investments as this may be a show stopper. Be prepared to answer questions about this. Or maybe it is supplementary? Or could be somehow bundled with products of their other investments? Showing this as a case study could help you a lot in sealing the deal. • Go for smart money You can get funds or so called mentorship from lots of places. But check what else you can get from investors. Maybe they can help you to set a pilot of your product somewhere? Or can provide you with some technical expertise, market research opportunities or support the sourcing of equipment? • Look who is on the other side of the tableIt is obvious that the potential investor will be assessing you. But you should also do the
same. Remember it will be someone who you will be talking to a lot in the future. If you already see there is no way you can work with that person on the long term basis – just saveboth sides the trouble. If you feel that your personalities will clash at every occasion or your vision of execution differ too much it will never work.
Who is that bee that wrote that article:Greg Banas is head of investments at hub:raum for CEE - Deutsche Telekom unit for Central and Eastern Europe. He started his career by working for Polish Embassy where he has been supporting polish companies doing business in Portugal and along the way he picked up some surfing skills and some Portuguese. After that he moved to pursue his career in business advisory, due diligence and audit activities at EY what gave him insight into the world of big corporations. For the last couple of years he was strongly engaged in the startup community managing investments for a Venture Capital group, running his own startup advisory company and getting personally involved in a couple of startups. He is also pursuing his Ph.D. as a researcher in the area of innovations and investments at Cracow University of Economics.
If you want to contact hub:raum, write at email@example.com.
We also encourage you to apply to hub:raum startup programme. More details here: applytohubraum.com
Final time to start the new season! This year we change the rules a bit;) Each guest will have 25min for his HiveTalk and we'll do Q&A round just after that. We will also give you time to speak up at the end of the each meetup.
So...who will start?
We invited Dymitr Glouchtchenko - founder of KWEJK.pl
- the most popular funny content platform in Poland!
Swarm will take place on 5th of March at The Stage - Łobzowska 3, Krakow
Register here!and join FB event!
Dymitr will have an intense 25min HiveTalk about advertising and how to build the online product with around half a billion page views per month!
How to analyze and use the right data?
How to earn money from the ads?
Dymitr will answer all those questions in his HiveTalk.
Don't know Dymitr Glouchtchenko?
He's originally from Russia but he's in Poland since 1995. Besides Kwejk he's intested in mobile gaming and 3D printing.
Come and talk!
The Stage, Łobzowska 3
Hi there, Open Coffee-lovers! Wanna hang out with a like-minded crowd, and generally have tons of fun on Wednesday evening, to get in the right mood before Thursday’s OCKRK?
Good, in that case we have a really strong proposition for you. Head to The Stage to see the comeback of Krakspot
, the oldest barcamp in Kraków. In the same spirit that Hive gave its support to concepts like Open Coffee Krakow, Open Coffee is now supporting the Krakspot relaunch, under the leadership of Kamil Łopata
Krakspot took a lenghty hiatus a couple of months ago. But now it’s here again and it wants to make a really strong comeback. So, what’s the agenda? One that’s pretty fun to listen about: failures. In business. In life. In general. And how to cope with them or even avoid them. So if you want to hear Richard Lucas Paweł Nowak and Piotr Zając speaking not only how to make money, but also how to lose it (with style), Krakspot is the place to be on Wednesday. But it’s not all about the keynotes. The networking is going to be a huge part of the refined Krakspot, so get ready for meeting a host of new people and participating in icebreaking games. Be there early if you want to experience it.
The decision was made to make this upcoming event
a real revolution for Krakspot, but of course not everything is going to change. The formula might be a bit different, but you can still count on pizza and beer - no surprises here. So, what else is there to say? See you on Wednesday: Open Coffee team certainly will be.
At the last Hive53 this year we will stop for a moment and make a quick startup summary. If you don't know how to start your startup you should definitely come! We meet on Friday, 6th of December
at The Stage, Lobzowska 3 at 7.00pm.
Let us know that you're coming here
(we'll have some gifts from Santa for you so you should come!).
Our guest this evening will be Filip Drimalka who has been engaged in activities in the field of marketing, business development and innovation for over ten years. He has launched several projects (e.g. easytask.cz, know-how-klub.cz or www.customer-point.cz). Filip is also an advisor at hub:raum Kraków
Filip will tell us m
ore how to:
1. Validate your ideas for new projects or services directly with your market.
2. Go through the process of getting to first customers using templates, crowd-sourcing and international outsourcing.
3. Build trust with new customers (even if you don't have product yet),
4. What growth hacking techniques you should use to find out whether your new project will be rocking the world or not.
Last but not least...you will learn about many online services that can be used for effective business development (apps, A/B testing, outsourcing, time tracking, emailing, live chats etc.).
If you're in sign up
at Facebok page.
Besides great workshop you will have a chance to meet folks from all around the Europe that came for hub:raum Krakow
We meet on the 6th of November at Google for Entrepreneurs, Rynek Główny - Pasaż 13. This time we start a bit earlier though - at 5:30pm - so please save the date and don’t be late!
Register here: http://www.ockrk.co/hive53/72
During our second meeting we will focus on legal issues for mobile and video game developers.
We will basically break down the game into smaller parts such as idea, code, design, audio, copy, in-game/in-app purchases, date bases... and tell you what exactly and more importantly, how you can protect it in the smartest way.
As our special guest we'll host Przemysław Walasek from Tylor and Wessing - an international law firm specializing in IT law in the gaming industry.
More about Przemysław:
Przemysław graduated from the European University of Viadrina in Frankfurt (Oder) and Adam Mickiewicz University in Poznan. He is responsible for Intellectual Property in Taylor Wessing e|n|w|c. He has extensive experience in advising clients regarding all legal aspects of e-business, new technologies, copyrights, including entrepreneurs specialising in on-line. He represents clients in cases regarding internet domains and breaches in coded TV security systems. He has taken part in many internet start-ups and advised entrepreneurs on copyrights fees to organisations.He specialises in copyrights, e-business and corporate issues.
The Global Entrepreneurship Week is coming soon! Better check the agenda at our strategic partner's website: Urząd Marszałkowski.C U
Are you interested in startup communities?
Our friends from hub:raum Krakow are! They are going for a big trip across Central and Eastern Europe to explore different startup communities there. Just imagine 4 days of intensive travelling, meeting new people, sharing the knowledge and experiences. How cool is that?
All Krakow's team - Kuba, Luka, Cosmin, Lukasz, Filip and Grzegorz will visit 12 countries including: Austria, Estonia, Bulgaria, Czech Republic, Slovenia, Croatia, Montenegro, Romania, Hungary, Latvia, Lithuania, and Slovakia.
Why they are doing it?
The main aims of this startup journey is networking and establishing strong relations with startuppers, developers, mentors, as well as incubator and universities’ representatives. During the meetings hub:raum Krakow team will share the idea of the incubator and will look for the best ideas across Europe.
Hope they will bring some fresh ideas (or even teams with fresh ideas) to their innovation incubator in Krk.
They are going to travel a lot. However, if you are going to spend holidays in Central and Eastern Europe as well - join the crew at one of the events and places below.
Meet Jakub Probola, head of hub:raum Krakow in the following cities:
• 01.10 | Bratislava | The Spot
• 02.10 | Vienna | sektor5
• 03.10 | Brno
• 03.10 | Prague | Node5
• 04.10 | Ostrava | Meeting local startup communities
Meet Luka Sucic, the Evangelist at hub:raum Krakow in the following cities:
• 26-27.09 | Budva | Spark.me
• 30.09 | Zagreb | ZipZg
• 02.10 | Osijek | BIOS
• 03.10 | Rijeka
• 04.10 | Ljubljana
Meet Cosmin Ochisor, Liaison Manager at hub:raum Krakow and Grzegorz Banaś, Chief Analyst in the following cities:
• 01.10 | Timișoara | Cowork
• 02.10 | Sofia | Betahaus
• 03.10 | Bucharest | Open Connect Event
• 04.10 | Bucharest | Meeting local startup communities
• 07.10 | Cluj-Napoca | Meeting local startup communities
Meet Łukasz Ciesla, Operational Manager and Filip Debowski, Event and Communication Manager in the following cities:
• 30.09 | Vilnius | Lithuanian Startup Founder Meetup
• 01.10 | Vilnius | Hub Vilnus
• 02.10 | Riga | Tech Hub
• 03.10 | Tallinn | Garage 48
• 04.10 | Tallinn | Meeting local startup communities
If you want to find out more about startup communities in specific city follow guys from hub:raum Krakow on Facebook and Twitter or just contact them!
We've all been waiting for this! On the 23rd of September
our good friends from Estimote
will share their experiences from Y-Combinator during the Estimote@YC Swarm!
The meetup will take place at The Stage, Lobzowska 3
We will start at 6pm
- please come on time and save the seats!Kuba and Łukasz
are on fire right now! After Y-C Demo Day they've been working like crazy (even more than before) but they want to tell you about their journey and plans for the nearest future. They will answer all your questions: How it's been? How's the product going? How is the team doing? and more...
Save the date and let us know that your coming on our FB event page!
For those who needs a little introduction:
Jakub Krzych, CEO & Co-Founder
Graduated from Jagiellonian University with an MSc degree in applied computer science and a Bch in computational physics. For four years, served as a board member and as the Head of Product at AdTaily, the self-service advertising network that he co-founded and sold to the largest CE media group.
Łukasz Kostka, CTO & Co-Founder
Graduated from AGH University of Science and Technology with an MSc degree in computer science in control and management and, right after graduation, started his PhD research on Smart Cities. A data scientist and hacker who likes to mix cutting edge technology with great design to solve real world problems.
Bees - we have a surprise for you. After a series of Summer Swarms we decided to prepare a new set with a huge doze of knowledge. This autumn you will have a chance to finally understand all the mysterious LAW issues.
Together with The Flying Mind Foundation we have prepared a series of meetings with outstanding lawyers.
#1 Legal Swarm will take place on the 18th
at Google for Entrepreneurs
, Rynek Główny
- Pasaż 13
. We start at 6pm
- please save the date
and don’t be late!
What is it all about?
The project is set to improve legal awareness and information supply within the startup community in Krakow and to provide the best possible legal knowledge and advise in fields such as intellectual property, investment contracts, databases legal protection, ect.
As our first exceptional guest we'll host Łukasz Węgrzyn
- a lawyer specializing in intellectual property.
Łukasz will talk about common legal issues for startups, giving you valuable tips about what you need to know before you start.
More about Łukasz:
Lawyer specializing in intellectual property, media and new technology law. Former in-house lawyer at Agora S.A. and MTV Networks. Presently working at Maruta i Wspólnicy sp.j in Warsaw.
Graduated from the Faculty of Law and Administration of the Jagiellonian University and postgraduate studies at the "Law of New Technologies" held at the Polish Academy of Sciences. Currently a PhD student at the University of Warsaw.
Passionate about new technologies, history and tennis.
Come and join us! Register here
or let us know you're coming on fb page.
The end is really close...let's celebrate it at last Summer Chill Swarm on 28th of August! (last this year;)
This time we ask you to register through ockrk (thanks to our friends Marta and Aliaksei)
Link for registration: http://www.ockrk.co/hive53/59
We meet again at The Stage, Lobzowska 3, Kraków, Wednesday at 6pm
We will host amazing Bartek Gola - The Managing Partner of SpeedUp Group, an entrepreneur and innovator. Co-creator of over a dozen technological startups. He is also an author of many publications in the field of marketing and business strategies. For many years he has been the Director of the Stowarzyszenie Marketingu Bezpośredniego (Polish Direct Marketing Association).
Bartek will talk about mistakes we make and illusions we create as entrepreneurs. What we can learn from them?
We also want to come back to pitching session
If you want to pitch after Bartek's presentation let us know by email: firstname.lastname@example.org
Yay! It's a holiday time...well at least for some of you;)
Hive's bees are working hard for whole year to bring you a bunch of new inspiring speakers to our swarms.
We meet again on 16th of July (Tuesday) at The Stage, Lobzowska 3 at 6pm!
If you want to participate join on our Facebook event!
This month we decided to make a serious swarm with not-all-the-time serious guests. So we invited two (actually tree) absolutely worth-noting individuals that will tell you more about the value that they bring to the Internet World. Krzysztof Gonciarz
hilarious guy with amazing sense of humor. Krzystof is a journalist who knows everything about gaming. He is also a popular web-videos producer and author of books about Internet (he wrote an Internet guide for Idiots;)). He will talk about his alter-egos and how he created profiles that gather milions of viewers.
Before Gonciarz's presentation, we will host pretty awesome duo on our stage or we should rather write pretty and awesome duo. Kasia Bojanowska and Joanna Socha met at primary school for the first time. Then they went to the same highschool and both started thinking about their design careers.
They worked a lot through the year (Socha as an architect, Kasia as a poster designer at ASP) and finally they met again. They started to work for Applicake and discovered pair designing. Finally when Ela Madej misspelled the word "underwear" by saing "uNERDwear
" they decided to turn it into a product idea - underwear for nerds.
Socha and Kasia will tell you that "its not a joke anymore" and how they preparing for the global launch using Internet tools like noone before in textile industry.
So come and chill with us on 16th of July at The Stage at 6pm!