ubi i/o’s 6th week was most likely the busiest one thus far, with two workshops and two major pitching events, our entrepreneurs and their dedicated Trade Advisors have been hard at work … and it has been exhausting.
Fundraising: insights from both sides
Finding financial resources is part of every startup’s lifecycle. Whether you have to go from an idea to a proof of concept, or to take a product to the market, acquire new clients or to sustain your growth, it’s very likely that you will need external funding. In a nutshell, that’s what VC funding is all about: providing you with the funds to execute your vision.
— Marceau Innovation (@Marceautalents) June 2, 2015
This process is a two way relationship, a collaborative effort to achieve a specific goal. We had the pleasure to welcome experts from both the investor’s and the entrepreneur’s world for two workshops this week. Nicolas El Baze, General Partner @ Partech Ventures, and Alaa Ismail, CFO @ EarlyGrowth Financial Services led Tuesday’s workshop and gave us their insights from the investor’s standpoint. On Friday, Samir Addamine, Founder & CEO @ Followanalytics came to our offices to share his story as an entrepreneur here in the Valley.
Here are the 3 main points you should keep in mind when thinking about fundraising:
- Target right. Picking the right VC is crucial. Why? Well aside from providing you with the funds, that VC should be relevant to you & your industry as he will accompany you through your journey.
— ubi i/o (@ubi_io) June 2, 2015
- Do your homework, be patient. Before even thinking about reaching out to a VC, you should be well prepared. Having a comprehensive business plan, a go to market strategy, a sharp pitch and clear cut financials is clearly necessary. Build up your network and cleverly work your way into the right circles to approach the VC you want in the most natural way possible. This will increase your odds of success. A typical VC will usually invest 7 figures into a company once or twice a year … so always keep that in perspective.
- Build and nurture a relationship. At the end of the day, it’s all about personal relationships. Once someone has invested in your company, your paths are linked for the upcoming years. A VC will always want whatever is best for the company, so you should make sure your interests are aligned. Just like any other relationship, trust is a cornerstone and it comes with transparency.
French American Pitch Battleground
A lot of people came to the French Tech Hub on Wednesday night to attend the French American Pitch Battleground and watch ubi i/o companies compete against American startups from Runway and Founder Space.
— ubi i/o (@ubi_io) June 4, 2015
While it allowed us to discover new projects incubated in San Francisco, this evening also gave the opportunity to our CEOs to introduce themselves to high ranked executives and investors who came by for this occasion.
Evercontact is World Champion of Enterprise Software
ubi i/o keeps the title! Yesterday, the World Cup Tech Challenge took place at the Microsoft Campus in Silicon Valley. Following the 2014 victory of Contract Live in the Enterprise Software category, Evercontact took home that title yesterday!
SVForum’s World Cup Tech Challenge is one of the most competitive pitching event in Silicon Valley. Over 200 applications from 53 nations were received from which 24 startups were hand-picked to represent 18 countries.
That’s why we were also thrilled to see Adways and HEXO+ pitch on stage! Even if they did not win in their respective categories, they managed to spark a lot of interest from the panels and the crowd. This was by far their most impressive pitch!
Alongside the competition, ubi i/o entrepreneurs enjoyed insightful talks from great keynote speakers such as: Mary Grove, Director of Google for Entrepreneurs and Pascal Finette, Managing Director @ Singularity University Labs … just to name a few.
This event was also an amazing opportunity to network with top notch VCs, executives, and technology trailblazers. A day that will forever stay engraved in everyone’s mind! France is making noise in Silicon Valley and we are proud of the great team spirit ubi i/o participants display day in and day out! #WTCFrance!