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Stanford Engineering School - Jan 6th 2014European Entrepreneurship & Innovation
Alice Zagury - CEO, TheFamily - Pariswww.thefamily.co
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1. The French Context
2. TheFamily Mission
3. TheFamily Activity
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1 - THE FRENCH CONTEXT
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Recent French Political Moves
PROTECTION AGAINST UBER In Paris, where taxi service is a fierce lobby, the government imposed a 15-minute minimum wait time on its orders to protect the cab companies.
- Growth contracted in the third quarter of 2013
- Unemployment is at its highest level in 16 years
- Huge public deficit, about 4% of GDP
Steep tax hikes + Standard & Poor’s downgraded twice France in the past 2 years
“FRENCH TECH” INITIATIVE
€215 million ($296 million) to be invested in special zones for Internet startups and promote the companies globally.
DAILYMOTION - YAHOO Industrial Renewal Minister Arnaud Montebourg, had erupted over an offer by Yahoo! to buy a 75 percent stake in the video-sharing site Dailymotion, in which the French government has a sizable stake
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Seed Investment
# OF SEED ROUNDS IN STARTUPS BY VCsFrance, 1st semester 2013 = 46Silicon Valley 1st semester 2012 = 849
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Recent Exits
Great French Startups
Web-based music streaming service12M monthly active users,5M of paid subscribersRaised a €100M in 2012
Largest car share service in EuropeTransported over 3 million people
Internet of Things & Iphone Health gadget companyRaised $30M in 2013
Personalized retargeting companyPublic company. Criteo’s latest funding round in 2012, valued the company at $800 million
European leader in cloud-based Talent Management solutions,Raised $24.6M total, in 2012
$600M
< $25M
Biggest European acquisition in 2013
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Startup \ˈstärt-ˌəp\ - noun
1. A STARTUP IS A TEMPORARY ORGANIZATION IN SEARCH OF A SCALABLE, REPEATABLE AND PROFITABLE BUSINESS MODEL.
See also: A scalable startup is designed by intent from day one to become a large company. Scalable startups aim to provide a tremendous return to their founders and investors.
Applying rules of established companies to startups is irrelevant, distracting and clearly damaging while growing and managing a startup.
In France, Startups are seen as Smaller Versions of Large Companies
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AMERICAN DREAM vs ELITISM
ECOSYSTEM vs CENTRALISM
MENTORING vs PATERNALISM
TRANSACTION vs RELATIONSHIP
NEWS IDEAS vs HERITAGE
OPEN vs SECRET
Can the Startup Mindset fit with the French Culture?
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2 - TheFamily Mission
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TheFamily nutures Entrepreneurs with
Education, Unfair advantages & Capital
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Alice Zagury, Cofounder & CEOFormer Le Camping Manager
1st startup Accelerator in France
• 36 startups created in 3 batches
• Fundraised a € 1.2M budget (+75% from private partners) • 18 startups raised more than €5M (50% in USA)
• 4 startups sent to the top 10 accelerators Techstars Boston, IO Ventures, WebFWD & Excelerate Labs
• Partnerships with BNP-Paribas, Orange, Google & SNCF• They came to Le Camping:
Eric Schmidt, David Drummond, Jacques-Antoine Granjon, Xavier Niel, Brad Feld, Bob Dorf
Oussama Ammar, Cofounder & PartnerFormer Le Camping Entrepreneur In Residence
Sciences Po Teacher & former Founding-CEO of Hypios
• 5 companies created with 2 exits
• 3M$+ fundraised for Hypios• Lived in San Francisco, Hong Kong, Sao Paulo & Paris
• 21 angels Investments (e.g. LocalMotion & Startup Genome)
• Teaches entrepreneurship in Sciences Po Paris• Advised Brazilian officials on Ecosystem issues related to SV
• Helped startups fundraise more than 10M $ in 2011-2012
Nicolas Colin, Cofounder Published a report commissioned by the
French Government on the digital economy Former Founder CEO of 1x1connect & co-founder of
Stand Alone Media
• Co-author of “L'Age de la multitude” with Henri Verdier.• Graduated from the ENA • Worked as an Inspecteur des finances • Teaches at Telecom Bretagne and at Sciences Po. Used to work as an expert for the Institut Montaigne and the Conseil des Prélèvements Obligatoires.• Member of think thanks Futurbulences and Club du 6 main, & of the steering committee of the Rules for Growth Institute and Cap Digital.
They Met & the Magic Happens
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They joined & the Magic Happens
Nicolas SaillantDeputy CEO
Former Le Camping InternEngineer @ Warwick
Erika BatistaRevolutionizer
- Education & Partnerships -
MBA in Innovation at Assas
Ronan AmicelHacker in Residence
Serial entrepreneur Former advisor at Agoranov,
Early Advisor for Criteo
Valentin LautierTheFamily RebootSkimm! CofounderHEC, SciencePo
Hugo AmsellemDark Matter Scientist
Oocto CofounderSKEMA Bachelor
Malika BeggourHackers on the Runway
Former Senior E-commerce ExecClub 21 Singapour
Master Degree in Political Science
Nathanaël ArnéraBarbares Attaquent !
Bachelor in Political Sciencefrom Montreal University
Alice MonierDesigner in Residence
Gobelins Shillington School Alumni
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Education& Unfair
AdvantagesScale+ = TheFamily
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3 - TheFamily Activity
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TheFamily
- since -
March 26th, 2013
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NOT A COWORKING SPACE BUT A HOUSE FOR MEETINGS
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NO OPEN PITCH SESSIONS BUT PRIVATE DINNERS
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NOT “BATCHES” OF STARTUPS BUT LEVELS
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Dark Matter
Phoenix
Diamonds
Soaring
Problem
MVP
Traction
[1]Scalable BM
74 Startups in our Portfolio Across 5 Levels
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NO DEMO DAYS... BUT ONE-ON-ONE MEETINGS
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STARTUPS CAN RAISE $$ WITH GOOD METRICS
100K+ active users
€ 500K raised
smart moneyJuly 2013
€ 1.2M raised with
Index Ventures, point 9 and Alven CapitalSept 2013
$1M raised with Ron Conway and others, $4.7M valuation premoneyDec 2013.
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NO MENTORING... BUT TECHNICAL WORKSHOPS
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CREATION OF LEGAL TOOLS: AIR, EQUIVALENT OF SAFE
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NO CONFERENCE ROOMS... BUT BEDROOMS FOR INTERNATIONAL GUESTS
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VIPs Are Welcome
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MEETUPS TO EDUCATE THE DARK MATTER
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EDUCATION FOR CORPORATES & OFFICIALS
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...& PARTIES, BECAUSE THAT IS A SERIOUS MATTER!
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Things are always breaking, and they will break at TheFamily. Our strategy is to create bottlenecks and then hitting them hard. That may sound irresponsible, but in practice, it's the way most complex systems get optimized.
- Inspired by Paul Graham, Y Combinator
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You are Welcome to Join the Adventure
Thanks!
www.thefamily.co @_TheFamily
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Silicon Valley Paris
Startup Output Index 1st 14th
Funding Index 1st 13th
Company Performance Index 1st 4th
Talent Index 1st 17th
Support Index 1st 6th
Mindset Index 1st 12th
Trendsetter Index 1st 15th
Differentiation from SV Index 1st 6th
Source: Startup Ecosystem Report 2012
The French Startup Ecosystem Is Toxic
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Quick facts
- launched in March 2013- 1200+ startups applied- 74 selected startups - Weekly dinners served- Daily workshops given- Monthly open events organized- VIP welcomed every day as the founders of Palantir, Xobni, Parse or Free- Seed round raised with Angel investors & Index Ventures
A Family you must be part of