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Informatics Ventures Overview

Andrew Mitchell | andrew.mitchell@ed.ac.uk | +44(0)7793111386

www.informatics-ventures.co

Informatics Ventures Overview


Andrew Mitchell andrew.mitchell@ed.ac.uk +44(0)7793111386

www.informatics-ventures.co

Supporting globally ambitious software startups across Scotland Infecting the world of academia with successful serial-entrepreneurs and emergent entrepreneurs

www.informatics-ventures.co

Customers:
1. 2. SICSA* staff and students Existing software companies with global growth ambitions

Objectives and desired outcomes:


Inspire SICSA staff/students to form globally ambitious companies Engage SICSA staff/students with existing Scottish software companies Engage Scottish software companies with SICSA research
* SICSA = Scottish Informatics and Computer Science Alliance (Research Pool) www.sicsa.ac.uk

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Approved by ESEP Ltd / Scottish Government


ERDF intervention would complement and add to PROSPEKT through: Accelerated and significant support for informatics enterprises from students, graduates and staff (Scotland wide); Flagship annual intensive entrepreneurship programme; Engagement with local/Scottish entrepreneurs and global experts in entrepreneurship education/training; Significant expansion of online teaching materials, for the benefit of Scotland. A statement of intent to learn from and work with Stanford, MIT and Cambridge as exemplar clusters.

www.informatics-ventures.co

Governance
The Court of The University of Edinburgh UofE Finance UofE Procurement Edinburgh Research & Innovation Ltd

College of Science & Engineering School of Informatics ProspeKT Board Scottish Enterprise UofE ERI Ltd Entrepreneurs Scotland IS ProspeKT / Informatics Ventures

www.informatics-ventures.co

Approved by ESEP Ltd / Scottish Government


Managing Authority Approved Finances

Staff costs Core Marketing IV Staff Travel WORKSHOPS/EVENTS Web Outreach ECP WINNERS (comprises a 'structured commercialisation process' that is directed by Entrepreneurs in Residence and accessed by enterprises competitively based on participation at the main ECP events)

142,441 55,000 15,745 410,000 118,000 490,000

142,441 55,000 15,745 410,000 118,000 490,000

142,441 55,000 15,745 410,000 118,000 490,000

427,323 165,000 47,236 1,230,000 354,000 1,470,000

1,231,186

1,231,186

1,231,186

3,693,559

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The Four Pillars of Informatics Ventures: Practitioner led entrepreneurship education:


Silicon Valley Speaker Series MIT Entrepreneurship Center workshops SICSA entrepreneurship summer school / bootcamps

Entrepreneurship outreach on the web:


www.entrepedia.org www.informatics-ventures.com/initiatives/podium www.techmeetup.co.uk

Focussed support for potential winners:


Entrepreneurs in Residence University of Cambridge Ignite and MIT Entrepreneurship Development Programme

Connecting the community:


iPhone Applications Group Touch Finance Microsoft / Royal Bank of Scotland Surface Apps Competition Engage | Invest | Exploit & Lifting the Lid

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Video source: http://www.informatics-ventures.com/eie09

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First 18 months Informatics Ventures has delivered:


Engage | Invest | Exploit, April 2008 Engage | Invest | Exploit, April 2009: http://www.informatics-ventures.com/eie09 Reality Check with Guy Kawasaki for SICSA students, April 2009 International Entrepreneurship Educators Conference Sep 2009 MIT Entrepreneurship Center workshops:
o Global Sales Strategies, Sep 2008 o Entrepreneurial Product Marketing, Nov 2008 o Global Sales Strategies, Feb 2009 (with Hillington Park Innovation Centre) o Entrepreneurial Operational Excellence, Feb 2009 o Financing for Growth, May 2009 o New Approaches to Leadership for Aspiring Women Managers and Entrepreneurs, August 2009 o Leadership & Teams, Edinburgh, September 2009

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First 18 months Informatics Ventures has delivered:


Cambridge/Scotland entrepreneurs forum, Oct 2008 (Edinburgh). Cambridge/Scotland entrepreneurs forum, Oct 2009 (Cambridge). 12 enterprises to MIT Entrepreneurship Development Program, Jan 2009 11 enterprises to Cambridge Ignite Programme, June 2009 12 student enterprises to Cambridge Enterprisers Programme, May 2009 School for Startups with Doug Richard:
o Edinburgh, 28th October 2008: The Six Rules for Startups o Glasgow, 10th & 11th December 2008: The Six Rules for Startups& Entrepreneurial Economics o Aberdeen, 1st June 2009: The Six Rules for Startups o Edinburgh, 2nd June Zero Cost Marketing for Startups

Development of web projects: pod.ium, techmeetup.co.uk, entrepedia.

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Ignite @ University of Cambridge.


Edinburgh: Dot Red Games Ltd QUAID Affect Labs Ltd Spinsight Ltd WikiJob Ltd QUAID Hoodeasy Ltd Glasgow Brainwave Discovery Ltd Robomotic x2 RGU Oncology Workbench Napier Inquisitive Systems SE John Murray

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Scotland-Cambridge workshop
Took place in October 2008 Beveridge, Denyer, Milne, Sharpe, Mackintosh, Simpson SoI, Hunter Centre / Strathclyde, EPIS, SE PoC, McGrigors, Archangel Distinguished entrepreneurs from Cambridge CfEL, CUE, IfM, Cambridge Network/Angels, St Johns, Pond Ventures, Cartezia Validated our position on an Entrepreneur in Residence scheme Brought out the importance of celebrating local heroes Debated the role and structure of social capital and networks in Scotland Discussed the concept of a Centre for Practitioner Led Entrepreneurship Next step: EiRs return match in the Cambridge Ecosystem (Beveridge)

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Schedule for next 6 months:


October: November: Entrepreneurs in Residence visit to Cambridge (20th 21st) Silicon Valley CEO Master Class with Sean Ellis (30th) Silicon Valley CEO Master Class with Jim Papp (5th) Global Sales Strategies for Ambitious Entrepreneurs, EBS (20th 21st) SICSA DEMOfest 2009 (24th) Silicon Valley CEO Master Class with Alex OHanian (26th) December: January: February: Silicon Valley CEO Master Class with Sean Foot (3rd) MIT Entrepreneurship Development Programme (24th 29th) Entrepreneurial Product Marketing (12th 13th tbc) TechCrunch event in Edinburgh (tbc) Silicon Valley CEO Master Class with Kathy Ku (5th) Silicon Valley CEO Master Class with Bill Joos (13th) March: April: Silicon Valley CEO Master Class with Trevor Loy (25th) Financing for Growth, (26th 27th) SICSA Enterprisers with University of Cambridge (12th 16th) Engage | Invest | Exploit 2010 (28th)

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Preliminary results from investor showcase survey:


Good news:
11/12 (92%) say they have had contact with someone as a result of EIE 8/12 (67%) say they've considered investing in relation to someone met at EIE 10/12 (83%) say they'll be back next year. The other 17% say maybe. Nobody said no =)

Suggestions/criticism:
'Majority of posters / stands were too techie and did not explain value proposition in business terms Pitches also 'need to be tighter and more focused...investors want a quick summary, then will follow-up if interested in the company's people and product., Some suggest that pitches are a more central part of the event instead of being a side show.

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Numbers:
11 core workshops delivered:
1.MIT - Global Sales Strategies for Ambitious Entrepreneurs, Edinburgh Sep 2008 2.MIT - Entrepreneurial Product Marketing, Edinburgh Nov 2008 3.MIT - Entrepreneurship Development Programme, Cambridge, USA Jan 2009 4.MIT - Global Sales Strategies for Ambitious Entrepreneurs, Glasgow Feb 2009 5.MIT - Entrepreneurial Operational Excellence, Edinburgh Feb 2009 6.MIT - Financing for Growth, Edinburgh May 2009 7.University of Cambridge - Enterprisers, Bedfordshire May 2009 8.University of Cambridge - Ignite, Cambridge June/July 2009 9.MIT - Leadership for Aspiring Women Entrepreneurs, Managers & CEOs, Edinburgh August 2009 10.MIT - Entrepreneurial Leadership & Teams, Edinburgh Aug 2009 11.University of Cambridge - Enterprisers, Darlington October 2009

Three School for Startups delivered 2008-2009 (awaiting data from Danny Helson)

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7,148 hours of executive entrepreneurship education delivered.


The image below is a tag cloud (http://tagcrowd.com/) visualising job titles of participants:

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7,148 hours of executive entrepreneurship education delivered 221 unique participants, from: 180 unique companies / organisations / enterprises 99 entrepreneurs, investors engaged as elevator pitch judges 40 companies exposed to investors at Engage | Invest | Exploit 09:
http://www.informatics-ventures.com/eie09-crib-sheets.pdf

3* equity deals in negotiation as a result of Engage | Invest | Exploit 09


* that we are aware of, potentially more.

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99 individuals in the ecosystem engaged from:

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23 SE Proof of Concept projects 8 SE High Growth / Equity companies 7 Edinburgh Pre Incubator Scheme supported companies 4 SE/Royal Society of Edinburgh supported companies 2 NESTA supported companies 2 SE Commercial Breakthrough Service supported companies 1 SE Intermediary Technology Institutes supported company 1 Princes Scottish Youth Business Trust supported company

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23 entrepreneurs from Scottish Enterprise Proof of Concept engaged:


Ann Marie Shillito, Anarkik3D Ltd - Edinburgh College of Art David Hamilton, Ateeda Ltd - University of Strathclyde Ben Panter, Blackford Analysis Ltd - University of Edinburgh Wayne Davies, Brainwave Discovery Ltd, University of Glasgow Douglas Armstrong, Brainwave Discovery Ltd, University of Edinburgh Alan Davidson - Edinburgh Napier University Griogair Whyte - University of Glasgow James Heward, iBehave - University of Edinburgh Ruth Murray, Immunosolv Ltd - University of Edinburgh Niladri Bose - Edinburgh Napier University Tom McEwan - Edinburgh Napier University Alasdair McDonald, NGenTec - University of Edinburgh Gordon Stuart, Technology Entrepreneur Tughrul Arslan, SATSIS Ltd - University of Edinburgh Rob Palfreyman, SATSIS Ltd - University of Edinburgh Alan Blunt, Technology Entrepreneur Chris Hatton, Solar Healthcare - University of Strathclyde Steve Parkes, STAR-Dundee Ltd - University of Dundee Craig Ramsay, STAR-Dundee Ltd - University of Dundee Helen Hastie, DUDE - University of Edinburgh Philippa Parmiter - University of Edinburgh Timothy Drysdale - University of Glasgow Sonia Schulenburg, Level E Ltd - Edinburgh Napier University

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Geographic breakdown of participants: Edinburgh Glasgow Aberdeen Dundee St Andrews Stirling Ayr Lanarkshire Aviemore Melrose Perthshire Renfrew 174 73 23 12 9 7 3 2 1 1 1 1

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Testimonials on MIT workshops:


Kens Class was very timely, focused and of great value for all of us at Traceall, as we develop our international sales strategy. A must attend for all high growth technology-based companies looking to scale globally. Scot McRae, Commercial Director, Traceall Ltd, Glasgow. The event surpassed my expectations and I gained much from attending; I am certain the outputs will be implemented at ATEEDA (and elsewhere). Kens experience is real world and he is an inspiration to us all. Bill Buckie, Finance Director, Cascade Technologies Ltd, Stirling. I consider the Global Sales Workshop to be one of the most relevant and laser-focused company advancement programs I have ever attended. One of the most relevant and fundamentally important 2 Days that any company with global ambition could commit to. The wealth of written value was illuminated by Kens laser guide focus, delivery style and personality. Andy Travers, Head of Business Development, KeyPoint Technologies Ltd, Glasgow. "I have been inspired by the leadership workshop last week and am considering starting a new company to launch a product based on a recent successful project which I believe is marketable in a more generic form to other businesses. "The MIT gang is great; between yourselves and them you are kickstarting a real Scottish tech community, something which no one else has managed to do. "Thoroughly enjoyed the two days and plenty of food for thought for growing our business over the coming months and years."

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Testimonials on Ignite:
I really hope something like that (Ignite) can be reproduced in Scotland, Maybe we don't have all those big companies and millionaires around but it will attract more investments. Paolo Di Prodi , Robomotic, University of Glasgow Both I and my business have benefited from taking a week to properly consider exactly what and how we are doing things. The range of people and experience available there was excellent. All in all, thoroughly worthwhile! Chris Muktar www.WikiJob.co.uk Concrete outcomes: 1. I improved my presentation with the help and facilities there. 2. The venture capital firm we visited, IQ capital, showed interest in Quaid. We plan to contact them when Quaid is more mature. 3. An MBA graduate showed interest to join the team. We will follow up the discussion when we have a stronger financial status. 4. Numerous advice, business contacts from the activities associated with the training. Xibei Jia, QUAID, University of Edinburgh Was certainly productive, especially as we're soon beginning our next round of fundraising. Alex McAndrew, Spinsight Ltd

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Testimonial from the ecosystem:


You have done a huge amount to put the entrepreneurial energy of the School of Informatics on the map in a very short time. All we have left in Edinburgh which can make any claim to being truly world class is our intellectual assets and I am more than ever convinced of the importance of nurturing the talent which was so much in evidence on Wednesday to build the wealth creating companies of tomorrow. Sandy Finlayson Senior Partner MBM Commercial LLP & Stuart Hendry Partner MBM Commercial LLP
In a letter to Andrew Mitchell, 1st May 2009

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