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Sirb's contribution to Saudi entrepreneurship's Echo system.
- 1. Sirb
- 2. Agenda • Who are we? • How does SirB fit in the Entrepreneurship’s Echo system? • Evaluation Committee Role • Pitching events • Entrepreneurship services • SiRB Aces • SiRB Partnerships
- 3. Who are we: Emergence of Sirb Angel Investors Network • Lack of Financial channels for Startups/ SMEs • Lack of Expertise in Entrepreneurs • Lack of effective communication between Entrepreneurs & Angel Investors As a result, KACST-BADIR established Sirb Angel Investors Network
- 4. Online Portal Pitching Events Training Programs Sirb Award For Best Investment Opportunities Sirb Network Activities/ Services
- 5. Main Participants Activities/ Services Provided Objectives to be Achieved Consortium Members Entrepreneurs and Angle Investors Supporting Entities for Training Training Programs Online Portal Pitching Events Comprehensive data base of angel investors and entrepreneurs Opportunity evaluation training to the angel investors Presentations training to entrepreneurs Periodic pitching events to bring the angel investors and entrepreneurs together Communication between investors and entrepreneurs Appropriate funding channels to SMEs Deal flow to the investors Strategic partnerships with universities and government Competitions Competition for Best Investment Opportunities Sirb Network - Framework
- 6. Agenda • Who are we? • How does SiRB fit in the Entrepreneurship’s Echo system? • Evaluation Committee Role • Pitching events • Entrepreneurship services • SiRB Aces • SiRB Partnerships
- 7. What’s an Angel investor? Definition • An angel investor or angel is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity ^. • More interested in success of business or individual than maximizing profit.^^ • Exact Opposite to venture capitalists^^ Business Angel 7 ^ Source: Wikipedia ^^ Investopedia
- 10. Entrepreneurship Echo system 10 MOL SME Programs 1.Unified Portal 2.Support for accelerators 3.Business Communities 4.Restructuring of regulations 5.Restructuring SME Finance 6.Promote SME entrepreneurship culture 7.Access to Market
- 11. Where do we fit?
- 12. 12 Funding Gap-Where Sirb Comes in 10 Investment (one round) $5MM $10MM F&F Venture CapitalAngels Stage Pre-Seed Seed / Start-Up Angel Investors USD 250,000 to USD 2,000,000 (depending on region) Expansion (Launch) Later (Growth) Source Personal Sources Friends & Family Venture Capital Investment USD 25,000 USD 100,000 USD 100,000 USD 250,000 USD 2,000,000 and up Early Stage NumberofInvestors
- 13. 13 13
- 14. How Much Money? • A study of angel investors sponsored by the Kauffman Foundation - – Data from 539 investors – Members of 86 angel groups – Made 3,097 investments – 1,137 “terminal events” (bankruptcy to IPO) 14
- 15. Angel Investment pays off..Bigtime • If you invested in all 1,137 companies that had a terminal event- – You received 2.6X amount invested in 3.5 years – Achieved a 27% annualized IRR – However, returns were skewed: – Less than half returned capital invested – One third produced expected returns – About 15% of deals drove returns
- 16. 16 Comparing Angels and VCs • Invest their own money • Often along with others • May invest in anything and/or everything • Don’t collect fees • (Hopefully) get a return on invested capital • Are actively engaged with the entrepreneurs • Wait patiently for returns (up to a point) Individual Angels • Invest other peoples’ money And perhaps a bit of their own • Focus on markets where they have expertise • Earn management fees • Collect a percentage of the return on invested capital (if any!) • Are actively engaged with the entrepreneurs • Try to return capital within the fund’s life (10-12 years) Venture Capitalists
- 18. PERSONAL STARTUP TRACK RECORD 1994 25K to 30M in 14 years V60M 1994 25K to 30M in 14 years V60M 2011 1 M to 4.7 M in 2 years 2011 1 M to 4.7 M in 2 years 2011 200K to 1.4 M in 1 year 2011 200K to 1.4 M in 1 year
- 19. Agenda • Who are we? • How does SiRB fit in the Entrepreneurship’s Echo system?? • Evaluation Committee Role • Pitching events • Entrepreneurship services • SiRB Aces • SiRB Partnerships
- 20. OUR ROLE • Help Angels Do a more calculated Investment, and reduce the Risk • Help entrepreneurs talk “Money.”
- 21. Entrepreneurs Investment opportunities Due Diligence Technology Assessment of alternative Technology Market positioning Value proposition Business Model Financial Structure ……… Angel Investors Venture Capitalists Government Fund Evaluation Committee Helps to Bridge the Gap
- 22. How good are the materials entrepreneurs provide? 22 22
- 25. Evaluation Committee Helps to Bridge the Gap
- 27. Evaluation Committee members • Khalid Suleimani: Technology- Entrepreneur • Yasser Baharith: Jeddah merchant-Traditional- Family business • Hani Baothman: Big money • Soraqa Alkhateeb: New media-Marketing- entrepreneur 27
- 28. Agenda • Who are we? • How does SiRB fit in the Entrepreneurship’s Echo system?? • Evaluation Committee role. • Pitching events • Entrepreneurship services • SiRB Aces • SiRB Partnerships
- 29. Verify Product Viability or real prototype Make sure all Basic Information in the business canvas is complete Face to face meeting with Entrepreneurial team Pick the right Angels for the pitching event Invite Groups of Angel that are likely to invest together. Pitching Events
- 30. WE FOCUS ON “STRUCTURE” AND BASIC “DUE DILIGENCE” AND LEAVE THE REST TO THE ANGEL.
- 31. 5 entrepreneurial projects Average Required capital: SAR 500k to 5MM 25 Angel Investors 10 signed letters of interest to invest in 4 projects out of 5. First Pitching Event March 10, 2013
- 32. Agenda • Who are we? • How does SiRB fit in the Entrepreneurship Echo system? • Evaluation Committee Role • Pitching events • Entrepreneurship services • SiRB Aces • SiRB Partnerships
- 33. “No Passes” get support until they get it right 33 Coaching Mentorship Prototype Development Incubation accelerationBoot Camp training
- 34. Agenda • Who are we? • How does SiRB fit in the Entrepreneurship’s Echo system?? • Pitching events • Entrepreneurship services • SiRB Aces • SiRB Partnerships
- 35. ENWANI • Founded by Dr. Abdullah Elias, PHD. • Innovative solution for addressing problem. • Incubated by BADIR Program 35
- 36. ENWANI • Received intensive Sirb Coaching & Mentoring • Received 2 letters of interest by Sirb Investors in the pitching event • Winner of Taif International Venture Academy – Best • Winner of Nice,France International Venture Academy – Most Investable Company • Received International investment opportunities by Sophia Business Angels 36
- 37. Team Members 37
- 38. Element Plan • Innovative and cost effective solution for addressing Cathode protection • Received intensive Coaching & Mentoring from Sirb Network • Received 4 letters of interest from Sirb Investors during the first pitching event • Currently negotiating closing investment deals with investors 38
- 39. • Developed a method for drilling based on special fitting of machines • Cathode Protection/Anode Surface/Deep Anode • Excelled in neutralizing static electricity of oil pipes for Aramco faster than any of the competitors 39 Element Plan
- 40. shat6er 40
- 42. Sirb Competition Training 42 • Entrepreneurship Essentials • Business Model Generation/ Strategy/ Financial Modeling/ Corporate Governance • Pitching Skills/Investors negotiations/ How to raise angel capital B Partnerships
- 43. Sirb Competition Finalists – May 26th 43
- 44. Agenda • Who are we? • How does SiRB fit in the Entrepreneurship’s Echo system?? • Pitching events • Entrepreneurship services • SiRB Aces • SiRB Partnerships
- 46. Thank you
Notas del editor
- The term "angel" originally comes from Broadway where it was used to describe wealthy individuals who provided money for theatrical productions. In 1978, William Wetzel,[2] then a professor at the University of New Hampshire and founder of its Center for Venture Research, completed a pioneering study on how entrepreneurs raised seed capital in the USA, and he began using the term "angel" to describe the investors that supported them.