supporting service specialisation: the role of incubators ...oct 16, 2019 · supporting service...
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Supporting Service Specialisation: the role of incubators, accelerators, and S&T
Parks in delivering sector specific support
16th October 2019Belgrade, Serbia
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Investing in technology startups
Kosta Andrić, Managing PartnerICT Hub Venture Serbia
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Project funded by the European Union
Øicthub.rs
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Project funded by the European Union
Silicon Valley
Serbian Ecosystem
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VENTURE CAPITALAS
“TEEN SEX”
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Project funded by the European Union
How our venture fund came to be?
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Project funded by the European Union
What is ICT Hub Venture• First privately owned venture capital fund in
Serbia valued at 1 million euros• Investments up to 50.000 euros• 5-15% of equity in the company• Preferably B2B start-ups• Besides the money, portfolio start-up receive
tailor made mentoring, access to ICT Hub network of clients and access to our premium education services
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Project funded by the European Union
Why we started the first VC?
• Founded in early 2017• Problem we saw – lack of local early stage
funding & lack of business development knowledge
• Lack of interest from the foreign investors• There was a good trend of newly founded
start-ups
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Project funded by the European Union
How the process looks like?
• Meeting the start-ups on local events, referral or application form on our website
• First meeting - 30 min long with an aim to understand the business idea and see if the applicant has everything requested. If it does…
• Second meeting – up to an hour long with specific questions in place. Due diligence and market research was done before that meeting.
• Presentation to our Board of Investors
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Project funded by the European Union
Results so far
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Project funded by the European Union
3 Lessons learned along the way• Evaluate the team first, than their business
idea and logic• When evaluating the start-up or prospective
team for investment, look for proof of their previous dedication to their idea. The core team needs to have the ”skin in the game”
• Company needs to start selling their product or a solution as soon as possible to be breakeven before they run of money
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Future steps
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Project funded by the European Union
Speaker contact details
• Kosta Andrić• Managing Partner, ICT Hub Venture• [email protected]• +381 63 448 881