10 Lessons from a First Time Entrepreneur. Scot Chisholm
ย
Similar to [PREMONEY MIAMI] Endeavor >> Allen Taylor , "The Global VC: How Emerging Markets Can Shortcut to Success...By Learning from Each Other" (20)
Osisko Development - Investor Presentation - May 2024
ย
[PREMONEY MIAMI] Endeavor >> Allen Taylor , "The Global VC: How Emerging Markets Can Shortcut to Success...By Learning from Each Other"
1. The Global VC: How Emerging Markets Can
Shortcut to Success...By Learning from Each Other
Allen Taylor โข VP, Endeavor Global
Managing Director, Endeavor Catalyst
2. The Global VC: 23 countries; 46 cities; 350+ staff
Since 1997: 45,000+ entrepreneurs screened ๏ ~ 1,000 selected
3.
4. Why VC is a โlocal gameโ AND a โglobal gameโ
VC is a โlocal gameโ becauseโฆ
โข Being physically closer is an advantage; proximity helps
โข Shared local culture is a diligence โhackโ (of sorts)
โข Obvious, direct value-add tends to be higher
BUTโฆ.
VC is a โglobal gameโ becauseโฆ
โข These markets & consumers have a ton in common
โข Emerging (or โincompleteโ) financing ecosystems need
international actors to fill in the gaps
โข Pattern recognition is powerfulโฆand serendipity is real
5. Starting is easyโฆscaling is hard
โข E-commerce is awesome, until you realize things donโt
work the same way outside the US (See: Brazil, Turkey)
โข Payments are a painโฆstart there (See: Mexico, Indonesia)
โข Logistics are lousyโฆstart there too (See: Most places)
โข Macro-economics matter (See: Argentina, Brazil)
โข But โrole modelsโ matter too (See: Argentina)
โข What to do when everyone is โplaying,โ but no one is
payingโฆ.yet (See: Indonesia, really all of SE Asia)
โข Being an angel is funโฆfor your first 3 deals, but then what?
(See: everywhere)
What other markets can teachโฆand where to go to learn
6. What matters most
1. โMentorโ Capital โ Think of yourself as a
mentor first and an investor second
2. Trust โ Itโs a people business, and people do
business with people they trust
3. Staged Financing โ Building a VC-backed
company requires โstagesโ of growth;
emerging/ or โincompleteโ investment
ecosystems need international actors -- both
to learn from and to actively participate
Mentorship, Trust, and Staged Financing
8. Beyond Silicon Valley
In Latin America
โข Sรฃo Paulo
โข Buenos Aires
โข Bogota
โข Mexico City
โข Medellin, Colombia
โข Monterrey, Mexico
And Beyond:
โข Istanbul
โข Jakarta
โข Cape Town
โข Amman
10 cities where you can go learn things right now
9. Where do we go from here?
โข Are you seriously telling me that I can learn stuff in Sรฃo
Paulo or Istanbul that would be relevant for Miami?
YES.
โข There are vibrant clusters of entrepreneurs & investors all
over the place โ GO SEE THEM!
โข When you go, donโt just be a tourist. Learn by doing:
๏Meet with Entrepreneurs ๏ Be a MENTOR!
๏Talk to local Angels & VCs ๏ Be a CO-INVESTOR!
๏Map the local VC world & back someone ๏ Be an LP!