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Artiman Ventures reviews innovation, start ups

This presentation by Amit Shah shares his insights on venture funding; Artiman reviews their focus on disruption and the stages in the lifecycle of a startup company. He describes the reasons for a start up as well as the different phases in the lifecycle of the start up.

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Artiman Ventures reviews innovation, start ups

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  1. Innovation, Startups, Life Amit Shah

  2. What is Venture Funding? • Riskiest money: Equity without security • Money that your relatives will not lend you • A bank lends when you don’t need it • Types of Venture fund • Early • When it is a concept: ala Aditazz • Mid • Product ready; some customers interested • Late stage funds • In revenue; need money for expansion

  3. Experienced Investors and Entrepreneurs • U.S. Investment Team • Amit Shah • Yatin Mundkur • Saurabh Srivastava • Tom Dennedy • Dr. Ajit Singh • Dr. Akhil Saklecha • Tim Wilson Venture Investing Experience • Collectively invested $450+M in 100+ companies - seed and early-stage • 74 exits with aggregate realized return of 4.2x • 9 IPO’s and 33 acquisitions Entrepreneurial Experience • Co-founded 4 startups in the U.S. and India • 4 successful exits with aggregate value of $610 million • ZeitNet, PipeLinks, Equator, Daksh, Ross, Kaleida • Backed by: Sequoia, Greylock, General Atlantic, Actis, Sony, Canon, Hitachi Operating Experience - public and private • Cisco, Rockwell, AMD, DEC, Silicon Graphics, Cabletron, Compaq, Qualcomm, HP, Tata Motors Technology Background • Played pioneering roles in seminal industries: Server Computing, Networking, Voice over IP, Video on Demand, IPTV, Digital Consumer Electronics • 15 US patents • India Team • M. J. Aravind • Ramesh Radhakrishnan • Kumar Subramanyam • EIRs • Piyush Patel • Phil Ferolito • Rodrigo Alvarez • Adam De La Zerda

  4. Experienced Investors and Entrepreneurs • U.S. Investment Team • Amit Shah • Yatin Mundkur • Tom Dennedy • Akhil Saklecha • Ajit Singh • Tim Wilson Venture Investing Experience • Collectively managed $900+M invested in 140+ seed/early–stage companies • 88 exits with aggregate realized return of 3.3x • 11 IPO’s and 32 acquisitions Entrepreneurial Experience • Co-founded 10 startups in the U.S. and India • 6 successful exits with aggregate value of $900 million • ZeitNet, PipeLinks, Equator, Daksh, Ross, Kaleida, Clarity, Airgo, BioImagene • Backed by: Sequoia (3x), Greylock, Accel, Oak, Sevin Rosen, General Atlantic, Actis, Sony, Canon, Hitachi Operating Experience - public and private • Cisco, Rockwell, Siemens, AMD, AT&T, Lucent, Cabletron, Digital Island, FireEye, Airgo, Clarity Wireless, Adaptive, Compaq, Qualcomm, HP Technology Background • Played pioneering roles in seminal industries: Server Computing, Networking, Voice over IP, Video on Demand, IPTV, Digital Consumer Electronics • 26 US patents • India Team • M. J. Aravind • Ramesh Radhakrishnan • US Operations Team • Ida Ng • EIR • Frank Thibodeau • Adam De La Zerda • Mahmood Panjwani • Seenu Banda • Atul Sharan

  5. The trigger for doing a startup My boss sucks; I don’t like my job; He/she made it; why can’t I? Always wanted to do a startup Caution: Not sexy; most likely foolhardy Very, very hard work with incredible ups/downs Enjoyment is in hindsight Why? O Why a startup?

  6. “Best ideas have come from outside industry” Intersect expertise in one market with another Think out of the box Do NOT be a hammer in search of a nail Intersection of experience, market understanding, ability to Execute Is it a business? Feature, Product or Company? Innovation

  7. Innovation and Regulations “Not the best co-habitants” • Affordable Care Act more flexible than most Regulations • Technology rule: at 10x superiority and 1/10th cost becomes pervasive • Healthcare cannot achieve SLAs of quality and cost w/o leveraging technology • Every element of healthcare industry at least a decade behind in the use of technology: from pharmacological, IT, surgery, preventive, post-care, facilities,…. • NO CHOICE BUT TO CHANGE

  8. Artiman: Focus on Disruption • BioImagene (Acquired by Roche) • Changing Standard of Care in Pathology • Cellworks • Designing drugs the way computer chips are designed • Aditazz • Designing & building Facilities the way computer chips are designed and fabricated • CardioDx • Non-invasive testing for Cardio-vascular diseases • Invensense • Motion Processing for consumer devices • Prysm • First American TV company in 30 years

  9. Create a Business Plan Not an excel spreadsheet or a word document or a powerpoint presentation An innate and clear understanding of what you are going after Remember: if it is in the press it is too late Truly understand the market dynamics Still want to do a startup?

  10. Most businesses should not raise venture money Do you really know why and how much money you need? Who do you raise it from? Customers, partners, friends and family, angels, VCs Government (Darpa, SBIC,…) The Money

  11. “They are evil; dumb; do not understand my business; trying to screw me; …” - All true - No different than a marriage How well do you know the person? - Look beyond the sexy early days and to the fat middle age and can you live with it? - Ecosystem The VCs

  12. Actually doing a startup Phases Primordial Middle Ages Industrial Revolution Deliverance Finally…

  13. Concept Early fools Extreme Energy Some lucidity Primordial

  14. Newer Skeptics & converts Energy / focus correlation Outside thoughts Confusion Middle Ages

  15. Scale Technology ready for customers Sales and Marketing starts ramping Internal Challenges Job function confusion (mix of newer v/s older employees) Communications Hallway conversations don’t work Processes (unfortunately) needed Fallout People dissatisfaction Inability to scale Some don’t make it thru transition Industrial Revolution

  16. Customer interaction starts Initially Skepticism Goes to “piddly stuff” Some more selling and it becomes “maybe” If persistence, the customer “converts” Deliverance

  17. Establish business entity Engage a lawyer/be cautious going solo with online resources Corporation is the entity of choice if you plan to raise money for the business Establish initial ownership of company with co-founders Fed/State registration, business license and permits Secure Key Personnel As shareholders, consultants or employees Start-Up Check List

  18. Start-Up Check List (cont.) • Secure work space • Clean up the garage, lease an office, come to Artiman • Open bank account • Obtain necessary insurance • Workmen’s comp • Medical • Liability • Implement Accounting System • Popular Quickbooks is adequate • Select payroll vendor (Paychex, ADP)

  19. Business is Never as Planned • You will have to Refine your Business Plan • Annual Strategy Plan • Annual Operating Plan • Annual Financial Budgets

  20. Artiman Tool Kit • Templates and sample documents covering: • Annual Operating Plans • Board Meetings • Financial • Human Resource • Legal

  21. Artiman Tool Kit Index

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