Fundraising, a focus camp within Startup Camp Berlin 2016, curated by Daniel Höpfner
Everything you need to know for bootstrapping your startup, finding investors and raising funds.
3. Daniel Höpfner
daniel.hoepfner@b10.vc
The new VC Landscape
Berlin is hip, the German Startup Scene is on the
rise. But how about the facts? At lot is going on in
Berlin in terms of fundraising, whereas we are wait-
ing for real M&A activity. The IPO market is closed
up for the moment and proven winners need more
time be really proven which puts some pressure
on the heavily financed players. There is increasing
interest from Asia which comes at the right time as
the market turns sour in the US. Germany overall
has established itself as No 1 M&A market in the
European Internet Industry but is too much fo-
cusses on eCommerce. Germany could leverage its
strengths in Industry and Automotive much better
to get its share in the current Kondratieff by build-
ing on the Internet of things. Overall, Germany and
Europe have built up a strong community of experi-
enced Entrepreneurs and Investors and a portfolio if
meaningful internet companies.
MARK MILLER
See the presentation: http://goo.gl/3PgVIJ
5. Daniel Höpfner
daniel.hoepfner@b10.vc
In the past months, Berlin saw a number of new
VC funds - mostly run by entrepreneurs who suc-
cessfully built their own startups before. As growth
capital is still scarce in Germany, the new VC funds
can contribute to filling the the gap; furthermore
they raise the level of competition between inves-
tors which should help startups to reach better
deals. Still, the new VCs differ in many ways: Some
focus on b2b, others focus on b2c business mod-
els; some focus on certain technologies, others
invest in a wide variety of ideas; some invest rath-
er small sums in early stages, others invest higher
sums in later phases. The panel showed the sim-
ilarities and differences of the “new kids on the
block” and gave the audience helpful advice how
to reach the new VCs and present themselves in a
promising way.
Moderator
7. Daniel Höpfner
daniel.hoepfner@b10.vc
• key learnings aus den letzten 18 Jahren
• Treiben die New Kids on the Block den Wettbe-
werb/die Bewertungen nach oben
• Wie sollte man VCs ansprechen, zu welchem
Zeitpunkt und was sollte man vermeiden?
• Gründungsmentalität in Deutschland - Wo ist
die grosse Vision, zu frühe Exits? etc.
• Wie wichtig ist Internationalisierung
• Unterschiedlichen Deal-Flow Ansätze
• Sind wir in einer Bubble?
• What’s hot right now?
Moderator
11. Daniel Höpfner
daniel.hoepfner@b10.vc
Corporate Venture (CVC) bieten über ein finan-
zielles Investments nicht nur viel Branchen- und
Tech Know-how, sondern echten Mehrwert, z.B.
durch Partnerschaften mit dem „Mutterunterne-
hmen“. „Wir helfen inhaltlich mit, daß sich unsere
Investments sehr gut entwickeln“, so ein Teilne-
hmer des Panels. Dabei investieren die CVCs in
alle Phasen: Von der Seedphase z.B. im Rahmen
von Accelerator Programmen bis hin zu late stage
Unternehmen in der Wachstumsphase. „Daß wir
dabei auch Geld verdienen wollen, ist klar“ fast das
Panel die Ziele der CVCs zusammen.
Moderator
13. Daniel Höpfner
daniel.hoepfner@b10.vc
• It´s okay if your startup dies, but it’s NOT OKAY if
your startup dies due to a bad pitch!
• Yes, pitching is super important, but no, it´s not
a matter of talent. Anybody can learn/practice to
be good at it in.
• It´s learned by DOING it, so use any change you
get to pitch.
• Content, performance and visualization all have
to be great to get people exited with your pitch.
• WHY you´re doing what you´re doing is the most
important part of your pitch (i.e. the problem
you´re solving)
15. Daniel Höpfner
daniel.hoepfner@b10.vc
• Public support to the SMEs and start-ups in EU and Germany is
currently encouraging mainly R&D, innovation and investment,
and is not only limited to the non-repayable grants. In addition,
loans, equity instruments and consultation is available.
• Different grant schemes depending on the topic and industry,
and the phase of development of the company – from ideation
and investment (normally supported at the national level) to
commercialization (both EU and national grants).
• At EU level, main instrument for small companies is the Horizon
2020 SME instrument, which will allocate €3 billion over 2014-
2020, with available funding per company up to 2.5 MEUR (max-
imum 70% of the overall project costs), aiming to help small and
medium enterprises in developing groundbreaking innovative
ideas for products, services or processes that are ready to face
global market competition.
• For qualifying for the SME instrument, the company shall be
highly innovative with international ambitions, be based in EU
or Horizon 2020 associated countries, be financially viable and
meet the EUSME definition; its product or service shall meet the
technical readiness requirements, be unique and need support
with development & demonstration.
ANDRA LARIN-VAN DER PIJL
17. Daniel Höpfner
daniel.hoepfner@b10.vc
One hour workshop in which a venture capital in-
vestment round was outlined, i.e. starting with the
termsheet and finishing with the reception of funds.
Besides detailed information on the different stag-
es of negotiations the key clauses of an investment
agreement (e.g. Vesting, Liquidation Preference etc.)
where explained and discussed with the participants.
The workshop was accompanied by an experienced
Investment Manager of a venture capital fund who
shared valuable knowledge with regard to negotia-
tions with venture capital investors.
19. Daniel Höpfner
daniel.hoepfner@b10.vc
Das Panel „Power to the People“ hat die Möglich-
keiten von Crowdfunding als Finanzierungsinstru-
ment für Startups diskutiert. Während der einstün-
digen Diskussion wurden die unterschiedlichen
Crowdfunding-Formen erklärt und die Zulassung-
skriterien der Plattformen vorgestellt. Auf die zahl-
reichen Fragen des interessierten Publikums sind
die Panelteilnehmer ausführlich eingegangen. Das
Panel hat deutlich gemacht, dass Crowdfunding
- neben dem Finanzierungsaspekt - viele Vorteile
wie z.B. Öffentlichkeit und Markforschung bietet.
Zitat: „Etwa 1% der Startups die sich bei uns bew-
erben, kommen letztendlich auf unsere Plattform“,
Robert Uhlich, Portfolio Manager Companisto.
MICHEL HARMS
Moderator
21. Daniel Höpfner
daniel.hoepfner@b10.vc
Der Workshop Fundraising A - Z war gut besucht
und wurde aufgrund der vielen internationalen
Zuhörer auf Englisch abgehalten. Der Vortragende
Tim Weiss hat zunächst die Zuhörer nach Themen-
bereiche befragt, über die sie gerne mehr lernen
würden. Anschließend hat er einen Überblick über
die verschiedenen Schritte im Fundraising-Proz-
ess gegeben. Der Fokus des Workshops lag auf
den ersten Schritten des Fundraising-Prozesses.
Während des Vortrags ist Tim immer wieder auf
Fragen der Zuhörer eingegangen und hat die
Reihenfolge der Inhalte auf ihre Bedürfnisse an-
gepasst. Das Feedback der Zuhörer war durchge-
hend positiv und es war ein gelungener Workshop.
22. Thank you!
Your building10 team
Make a change - build with us
B2B Company Builder and Pre-Seed Investor.
Investment and Operational Support.
DANIEL HÖPFNER
daniel.hoepfner@b10.vc
HENRI KÜHNERT
henri.kuehnert@b10.vc