Esta lista del Wall Street Journal se sacó después de analizar más de 350 empresas  dentro del espacio ‘clean-tech’ que tuvieran una valoración inferior a $1 billion y que fueran de EEUU. Predominan las empresas de solar, coches eléctricos, baterías y soluciones para Smart Grids.

Fuente: WSJ

Atención con la slide 15

1) Le gusta ver que el modelo de negocio este probado, elimina mucho riesgo ver competidores en otros países.
2) El inversor tiene miedo a anticiparse al mercado.
3) Para el inversor mucho más importante que elegir el caballo (proyecto), lo es elegir la carrera (sector/oportunidad).
4) Si la oportunidad es buena, suele tener 3-4 Business Plans donde elegir. Si no los tienes, puede que espere.
5) Recomienda primero COPIAR, y luego sobre eso, INNOVAR.
6) En las proyecciones ve rápidamente si ‘esto es gordo o no’. El busca rentabilidades de x10, si lee facturaciones de un millón y pico de euros en el tercer año, puede que ya no siga leyendo. No es lo mismo un proyecto viable que uno invertible.
7) La incertidumbre inicial más importante suele ser la primera venta, en el caso de Privalia fue el motivo que le llevó a invertir, después de haberlo desestimado.
8] Privalia ha cumplido sus previsiones de ventas a raja-tabla, es IMPRESIONANTE. Cifra de ventas por años: 400K€, 8M€, 21M€,…
9) Si los emprendedores han puesto su dinero (no es requisito, pero puede ser MUY importante), automáticamente lo valora x3, antes de abrir el BP.
10) Es imprescindible el equipo emprendedor cubra todas las áreas, el nunca invertiría en una empresa donde le necesiten a él por su tiempo, contactos, etc.

También tenéis un vídeo de Steven dando una charla en Standford aquí, o un resumen de su libro allí.

Por cierto, esta transparencia no tiene desperdicio:

Killer Pitch

Mr. Big

Si buscas inversores y quieres dar un poco la nota, cómprate una de éstas!

http://www.startupwear.com

http://www.vcwear.com

La web del OVP Venture Partners no tiene desperdicio…

Source: OVP http://www.ovp.com

La presentación este especialmente bien, pues reune el video & el powerpoint, en total son 55min (in english).

Al tanto al final cuando cuenta la historia de Yahoo (Bozo Quote 4). wow!

També m’agrada el llistat de start-ups nascudes al Parc de La Salle, tenen una bona pedrera (en negreta els que hem conegut):

Linqia – Frog Mobile Services – Contact Center Institute – Ecogetic Soluciones Energéticas Alternativas – Desarrollos Dentales Plus Tres – Isigma Asesoría tecnológica – Advertising Media Game – Wututu – Voztelecom – Polymita Technologies – Genaker – E-Controls – Adiciona – Adecq Digital – EduExcellence – Ariadna Solutions – Signaletics – Aifos Solutions – Flubetech – On-Laser – Mobile 4 Media – Hidroflot – Imagsa – Digger Tools – Nadir – Etnia – Ta with you – Cantor Innovació Internacional – Identia – OpenMet – Emovilia – Cuatic – Development – Soluciones Digitales de la Movilidad (SDM) – Aira Networks- Digital Legends – Air Water Treatment – Vida Software – DAEM – Novarama – Wattpic – ControlPaint – Active Career – Voxel

(the Sequoia Capital target start-ups)

Elements of Sustainable Companies

Start-ups with these characteristics often foretells the success of a business and the likelihood of it becoming a sustainable, enduring company. We like to partner with companies that have:

Clarity of Purpose

Summarize the company’s business on the back of a business card.

Large Markets

Address existing markets poised for rapid growth or change. A market on the path to a $1B potential allows for error and time for real margins to develop.

Rich Customers

Target customers who will move fast and pay a premium for a unique offering.

Focus

Customers will only buy a simple product with a singular value proposition.

Pain Killers

Pick the one thing that is of burning importance to the customer then delight them with a compelling solution.

Think Differently

Constantly challenge conventional wisdom. Take the contrarian route. Create novel solutions. Outwit the competition.

Team DNA

A company’s DNA is set in the first 90 days. All team members are the smartest or most clever in their domain. “A” level founders attract an “A” level team.

Agility

Stealth and speed will usually help beat-out large companies.

Frugality

Focus spending on what’s critical. Spend only on the priorities and maximize profitability.

Inferno

Start with only a little money. It forces discipline and focus. A huge market with customers yearning for a product developed by great engineers requires very little firepower.

sequoia capital

via blogdeemprendedores

Claremont Creek

Early-Stage Companies:
Companies in our portfolio are early in their development cycle – typically after angel funding, but before a traditional first round of venture finance.
Our strategy is to lead the initial round, where our investment typically ranges from $500,000 to $3 million.

Regional Emphasis:
Claremont Creek puts special emphasis on opportunities beyond the traditional confines of Silicon Valley. We believe in helping creative and visionary entrepreneurs flourish throughout the San Francisco Bay Area. With more than $2.5 billion in annual research spending at such leading institutions as UC Berkeley, UC Davis, and the Lawrence Laboratories in Livermore and Berkeley, Claremont Creek’s location gives it unique access to this fertile ground for the development of new technology solutions and compelling investment opportunities.

High-Opportunity Market:
Mobility (voice, data, and converging platforms that facilitate collaboration in non-hierarchical, widely distributed organizations).
Healthcare (research and clinical IT applications, such as instrumentation, patient management systems, and bio-informatics).
Security (which would include both the digital and physical systems that comprise mobile, small business, and enterprise computing environment).

ONSET Ventures

Un dels seus articles interessants…

Funding a Medical Device Start-Up:
Entrepreneurs have to attract a VC’s interest in their company. There are a number of potential questions VCs will ask when they evaluate a company.

How big is the market opportunity? How large is the market for this product, and how compelling is the need? How fast will the market grow? Generally, potential market size must be at least $350 million to $500 million per year—and preferably more than $1 billion—to justify the returns VCs are seeking.

How original is the technology or product?

How solid is the team?

How realistic is the business model?

Figure 1. Start-up companies typically seek increasing amounts of funding as company value increases over time and the risk to investors is reduced.

Figure 2. Entrepreneurs prepare a road map of key milestones over time to determine when to raise funds and how much they need. The above plan shows three rounds of funding prior to an initial public offering (IPO).

En definitiva, jo diria que al 2003 moteiv va rebre una ‘early-stage round’ d’entre $500k-$1M, o més?

Una altre conclusió, és que si aquests dos VC’s van invertir en moteiv, vol dir que el mercat de les WSN a 2003 ja tenia unes expectatives de superar de bon troç el $1billion.