frost & sullivan emerging technologies investment advisory services

Frost & Sullivan TechVision and Business and

Financial Services

Integrating emerging technologies advisory services with valuation and

financial analysis consulting capabilities

Value Proposition: Our Business and Financial Services Solutions Are

Integral Component of Analysis Across All Verticals

Chemicals & Materials

Food & Personal well being

Environment Construction &

Building

Automotive, Energy & Packaging

Personal Protection

Environment & Building

Technologies

Water & Wastewater

Waste Management

Building Management Technology

Air Treatment

Environmental Health & Safety

Energy & Power Systems

Renewable Energy

Energy Efficiency & Management

Energy Storage Technologies

Smart Grids

Aerospace & Defense

Commercial Aviation

Maintenance Repair Overhaul

Airports & Airport Infrastructure

Aircraft Leasing & Financing

Cargo & Freight

Financial Services

Asset Management

Banks

Diversified Financial Services

Insurance

Specialty Funds

Healthcare

Medical Devices

Pharmaceuticals & Biotechnology

Medical Imaging

Healthcare & Life Sciences IT

Drug Discovery Technologies

Growth

Consulting

Market

Intelligence

Business

Implementation

Business and

Financial Services

Practice

Information

Communication & Technology

Semiconductors

Software and Services

Software

Technology Hardware & Equipment

Telecommunication Services

Automotive &

Transportation

Telematics & Infotainment

Electric & Hybrid Vehicles

Automotive Components

Automotive OEM

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A Sample of Coverage from Our Emerging Technology

Advisory: The Global Top 50 Technologies

Health & Wellness

•High Throughput Gene Sequencing

•Antibody Therapeutics

•Biomarkers

•Cancer Immunotherapy

•Targeted Drug Delivery

•Regenerative Medicine Information & Communication

Technology

• Surgical Robots

•Digital Pathology

•Neuroprosthetics

• Surgical Laser

Medical Devices & Imaging Technology

•Context-Aware Computing

• XaaS Platform

• Predictive Analytics

•Machine Learning

•Gamification

• Immersive Computing

• Software-defined Anything

•Augmented Reality

Microelectronics

• Flexible Electronics

•Wearable Electronics

• Smart Lighting

•Near Field Communication

•Wireless Charging

•Brain Computer Interface

Sensors & Controls •Drones

• Smart Sensors

•Biosensors

• Energy Harvesting

•M2M Communications

• Sensor Fusion

Materials & Coatings

• Lightweight Composites

•Anti Corrosive Coatings

• Polymer Chameleons

• Polymeric Catalyst

• Carbon Fibers

Advanced Manufacturing & Automation

•Agile Robots

• 3D Printing

•Micromanufacturing

•Digital Manufacturing

•Composites Manufacturing

Clean & Green Environment

• Atmospheric Water Generation

• Waste-to-Energy

• Waterless Technologies

• Water-Energy Efficiency

• Solid Waste Upcycling

Sustainable Energy

• Lithium Batteries

•Unconventional Oil

•Bioenergy

•Waste Heat Recovery

•Microgrid

The NEED to integrate external ideas throughout the value chain

Patent tracking

Technology landscape mapping

External technology influences

Opportunity assessment and prioritization

Identification of key players and potential collaborator(s)

Our Recommendations Support and Guide Projects From Technology Development to Commercialization

Basic Research Basic Research Applied R&D Applied R&D Technology

Demonstration Technology

Demonstration Commercialization Commercialization

Technology companies look for opportunities with regard to convergence, applications, and business opportunities

Technology assessment and prioritization

Ongoing analysis of emerging and disruptive technologies

Investment and risk

Country, political, and economic risk assessment

Market/application evaluation efforts

Technical strategy development

Value proposition formulation

Stakeholder buy-in

ROI

Application assessment

IP investigation and analysis

Technology drivers and restraints assessment

Competitive advantage: inside primary knowledge

Competing technology benchmarking

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Maturity Development Growth Decline

Business Life Cycle

IP Consulting

Research For New Technology

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Licensing and Valuation

Valuation of Start ups

Project Feasibility and Viability Studies

Product Launch/ Development

Geographic Expansion

Business Valuation

Market Research for IPO

Business Plan and Product Valuation

M&A Support

Vertical Market Expansion

Business Valuation

Financial Planning and Analysis

Commercial Due Diligence for M&A

Turnaround Strategies

Financial Support for turnaround Strategies of distressed firms

Financial Planning and Analysis

How Our Services Provide Value Across the Business Cycle

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Consulting Services

Project Types

PROJECT

FEASIBILITY &

VIABILITY STUDIES

BUSINESS PLAN &

PRODUCT VALUATION

FINANCIAL PLANNING

& ANALYSIS

FINANCIAL SUPPORT

FOR TURNAROUND

STRATEGIES OF

DISTRESSED FIRMS

COMMERCIAL DUE

DILIGENCE FOR M&A

MARKET

RESEARCH FOR

IPOs

BUSINESS

VALUATION

VALUATION OF START

UPS

TECHNOLOGY &

LICENSING

VALUATION

Financial Analysis & Valuation Consulting Services:

Project Types

7

The Client: A Major Global Conglomerate

The Challenge Project Objectives

Project Feasibility

Analysis for relocating

plant operations in the

O&G piping sector

from India to South

East Asia. Green

pipes and heat treated

pipes were considered

for analysis.

Market Related:

• Determination of supply & demand

• Pricing analysis

• Determination of drivers, restraints and

challenges

• Assessment of import/export market

opportunities

• Determination of applications for end-

products

Financial Model Related:

• Determination of key financial indicators such

as project IRR, NPV, equity IRR, debt and

equity components and initial working capital

requirements

• Sensitivity analysis including base case, best

case, and worst case scenario analysis.

• Preparation of bankable reports

Our Approach and Work

Inputs from market study and those from the clients were first gathered. Based on experience of working on similar

projects in Malaysia and South East Asia, the inputs such as salaries were gathered, verified and adjusted accordingly.

Comparable companies were identified to obtain key indicators such as target capital structure, cash conversion cycle

and other valuation multiples. Using the inputs, key financial statements-Balance sheet, cash flows and income

statement were built. Also, key indicators such as Project IRR, NPV and equity IRR were computed. The dynamic

model also included sensitivity analysis and scenario analysis.

Outcome and Business Impact

The project, with estimated capital requirements of over USD 185 million, is expected to have a project IRR of 24.5

percent and a pay back period of around 6 years from start of operations. The company has decided to move its

operations to South East Asia based on this recommendation.

Case Study: Project Feasibility & Viability Studies

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Commercial Due Diligence for M&A

Clients

• Companies with stagnating growth

• Companies looking for strategic partners to expand geographically (regional, national, global)

• Companies seeking to raise capital by selling one of its business divisions

• Companies planning to sell off a non-profitable business unit

• Companies looking for profitable investment opportunities to fit their budget for the year or to make use of excess available cash.

Description

• Mergers and acquisitions present an inorganic growth option for many cash rich companies. However, poor

acquisition strategies have been the bane of many mergers. The Business and Financial Services team

enhances the chance of finding suitable target companies through unbiased and accurate target valuation

using different techniques based on financial concepts. The entire process of providing support includes

support with negotiations, complete commercial due diligence and strategic direction throughout the

acquisition process.

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The Client: A Large Japanese Multinational Engineering And Electronics Conglomerate Company


• A large Japanese multinational engineering and electronics conglomerate company was interested in entering the United States healthcare analytics market, through acquisition of a start-up in the healthcare analytics space.

• Uncertain about the financial risks and business viability of entering a new geography by investing in a start-up, the client sought Frost & Sullivan’s experience in understanding the risk of healthcare business, identifying the right target, and the expertise in building financial models to quantify the risks and benefits to come up with a value for the target acquisition.

• To conduct the as-is assessment of the current trends

impacting the healthcare scenario in the region and

identify the right target in the healthcare analytics

space.

• Study the business model of and project the future

revenues and costs of the target’s business.

• Incorporate the finding into a dynamic financial model to

identify the optimum acquisition value with the

projections on return on investment.


• A comprehensive 10 year financial plan was prepared covering revenue and operational expenses based on the

evolving business model of the target.

• The value of the target was calculated by two approaches namely the Discounted Cash Flow( DCF) and Relative

Valuation. To arrive at a more accurate value, the relative valuation approach included comparables such as Market

Cap/Sales, TEV/Sales and TEV/EBITDA.

• Highly dynamic sensitivity analysis was created out for different business scenarios of the target company namely

Conservative Scenario, Growth Scenario and Aggressive Growth Scenario.


• Our detailed market study coupled with the financial model has helped the client make specific decision on acquisition of the start-up and the value at which the target should be acquired.

Case Study: Commercial Due Diligence for M&A

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Business Plan & Product Valuation

Clients to Target

• Companies looking for angel funding (seed funding)

• Companies looking for strategic partners within the ecosystem

• Companies looking to raise money (series A,B,C funding ) by presenting the business to potential venture capitalists

• Companies planning to pursue IP valuation for its product/technology/service

• Companies in the start up stage, looking for partners that may help in commercializing the product (or) take the company to the next level.

• Companies looking for an exit strategy and wanting to wind up and sell part or all of promoter's stake in this process.

Description

• Start up ventures and new product initiatives often require support from angel investors and seed funding

agencies. One of the foremost requirements of such a funding process is a solid business plan backed by

strong market fundamentals and future growth prospects. The Business and Financial Services team is

uniquely positioned to assess the quantitative and business implications of the market research analysis.

The Business and Financial Services team supports with validation of different aspects of the business

plan like market report, financial report, operational plan and the bankable report. It also supports the effort

to identify interested investors and support negotiations so that the entrepreneurial venture gets funded

and the angel investor gets a suitable equity stake based on a fair valuation of present and future cash

flows.

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The Client: An Autonomous Institution under Ministry of Science and Technology


• An Autonomous institution under the Ministry of Science and Technology designed and developed a low cost medical device as a part of its strategic response to inflating healthcare costs in the country.

• Uncertain about the competitive edge for such a product in the market which already has presence of low cost devices by multinational medical device majors, the client sought Frost & Sullivan’s experience in understanding the medical device market and expertise in building business models

• To conduct a meticulous assay of the market for low

cost medical device and understand the existing gaps in

both price and technology fronts.

• To build a business plan with the data on potential

needs of customers and demand gaps in the existing

market and develop a dynamic business model

• To determine the feasibility of establishing the

manufacturing set up in terms of optimum investment,

pricing strategy and business model with the projections

on return on investment.


• A comprehensive business plan with 10 year financial plan was prepared covering revenue, operating and capital expense and the key financial metrics like IRR and NPV for the right decision.

• The dynamic nature of the business plan gives the flexibility for the client to understand the impact of various cost factors on the business model.

• Propose market entry strategies namely outsourcing, vendor selection, cost of component, sales strategies, etc with their implication on profit and operating margins. Identify right pricing strategy for different clusters of customers and the effect on profitability and project feasibility

• Highly dynamic sensitivity analysis was also carried out for different business scenarios which includes Base case, Best Case and Worst case scenarios.


• Our detailed market study conjoined with the financial model has helped the client to make specific decision on the

pricing strategy, phases of investment, discount strategy and informed understanding of the potential returns for the

capital invested. The financial metrics helped the client to present a strong case for this project to the finance

ministry for funding requirements.

Case Study: Business Plan & Product Valuation

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Market Research for IPOs

Clients to Target

• Companies looking to raise funds.

• If it is equity route, whether they are going to go for Initial Public Offer/Follow-up public offer.

Description

• The Business and Financial Services team can assist companies considering IPOs by performing Diligence

through site visits, interviewing top and middle management, analyzing financial statements and

competitive benchmarking. IPO valuation is a key part of the deliverable and involves financial, commercial

and business due diligence. The Business and Financial Services team also looks at an unbiased and

accurate valuation using different techniques keeping in the mind the debt financing history of the company.

In addition, Business and Financial Services provides strategic directions in the entire process.

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The Client: A leading NBFC in India


A leading NBFC in India required an independent

assessment of its market share in a niche customer

segment. The niche segment was defined as small loan

(loan value below INR 10 lakhs) credit market for MSMEs

(Micro, small and medium enterprises) in India. Since the

credit demand for most of this segment is catered by

unorganized sources, the challenge was to use a methodical

and logical approach to assess demand, market size and

identify market share of key players in this segment.

To conduct independent market research that would form

material for an IPO prospectus that would include the

following

• Market size of Small loan MSME credit market for NBFCs

in India

• Estimates of market growth rate based on Scenario

analysis – Best case, Base case and Worst case

• Historical market share (2010 – 2012) of key players in this

segment and estimated market share for the FY 2013.


• Established the total credit demand of the MSME segment in India based on available resources such as reports by

government authorities and other financial institutions. Identified the structure of finance supply for MSMEs and estimated

the market share of NBFCs that cater to the small loan MSME credit demand vis a vis other sources of credit such as

banks, private equity and venture capital companies and other unorganized sources.

• Identified the share of small loan credit demand based on interviews with leading NBFCs in India.

• Estimated future growth rates (FY2013 – FY 2020) based on three different set of macro economic assumptions. This

formed the basis of three different scenarios – Base case, Best case and Worst case.

• Identified key players and conducted interviews to understand their outlook and their current market presence in this

segment.


Key market statistics such as market size, demand, supply, different sources of credit, growth estimates, drivers, restraints,

market share of key participants and market leader were ascertained for a niche customer segment (Small loan MSME credit

market). The report was well received by the client and will be included as a part of prospectus material for an upcoming Initial

Public offering (IPO) by the client.

Case Study: Market Research for IPOs

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Business Valuation

Clients to Target

• Companies looking to acquire entire businesses of smaller companies to increase the diversity of their footprint.

• Companies interested in exploring new opportunities. This includes start-ups as well as established firms that want to enter a new vertical or offering.

• Companies looking to divest a portion of their business.

Description

• Private companies at times need unbiased, third-party valuation of the company. Business valuation lies at

the core of our financial support and involves multiple techniques like discounted cash flow analysis,

comparative valuation with existing public companies and comparative valuation with recent M&A activity.

The foundation of this valuation is a dynamic financial model with a comprehensive sensitivity analysis to

calibrate risk more accurately. Multiple scenarios are considered to factor in the impact of changing macro

parameters. The output consists of key financial criteria like the Net Present Value and Internal Rate of

Return. The dynamic nature of the model also helps us to suggest effective financial management

techniques to the clients.

15

The Client: A start up power transformer manufacturer


• A start up power transformer manufacturer in Oman was

looking to sell 25-40 percent of their equity stake in view

of establishing strategic partnership that would help them

to penetrate into new markets. The company required an

independent third party equity valuation to arrive at a

selling price for this transaction.

• Frost & Sullivan was required to identify new markets for

sale of transformers and potential partners for the

manufacturer.

• Frost and Sullivan was also expected to do detailed

valuation of the company’s equity using different valuation

techniques.

To conduct independent market research and business

valuation to help arrive at a selling price for the equity stake

• To establish total Market size in Middle East by different

countries for power transformers and to identify potential

markets, possible degree of penetration and estimated

market share over the projection period (2013-2022).

• To project Sales and expenses between 2013 and 2022

based on actual performance between 2011 and 2012 and

other market and company inputs.

• To calculate the value of equity stake based on different

valuation methods such as Discounted Cash flow analysis,

Net Assets Method, Comparables Valuation Method.


• Market feasibility analysis provided the required inputs on potential markets for sale, sale prices in different countries, and total market size.

• A comprehensive financial plan was prepared projecting revenues, variable costs, fixed costs, working capital and proforma financial statements were prepared over a 10 year period based on historical performance, planned capital expenditure, and other material inputs from the market and the company.

• Different Valuation methods were used to evaluate the equity of the company and weighted average equity value was calculated.

• Scenario Analysis that provides the flexibility to change multiple key parameters that affect the valuation metrics was also included as a part of the financial model.


• Our business valuation, market research combined with detailed financial projections has helped the client estimate its equity value in different scenarios (Base, Best and Worst) and identify potential targets for sale.

• The business valuation would aid the client in striking a deal with potential strategic partners that would help the company penetrate into new markets for sale.

Case Study: Business Valuation

16

Financial Support for Turnaround Strategies of

Distressed Firms

Clients to Target

• Companies performing in ailing industries with low profit margins

• Companies which are very low on liquidity when compared with the industry

• Companies interested in divesting their non performing assets/ SBUs

• Companies looking to acquire non performing assets

Description

• Ineffective financial management often leads to lowering the profitability and in extreme cases may be

the harbinger of bankruptcy. The Business and Financial Services team boasts of a solid team that is

well quipped to diagnose the cause of poor profitability. The techniques adopted include dynamic

financial modelling, financial benchmarking with industry peers, comprehensive ratio analysis and

comparative M&A valuation. The recommendations for turnaround include effective working capital

management techniques, optimization of the capital structure, suggestions on the dividend policy

besides other key aspects. In certain cases, the Business and Financial Services team also supports

a business strategy of divestiture if required.

17

The Client: A start up power transformer manufacturer


• The client is a Saudi Arabia based public share holding

company. It has 3 business units:

Wire drawing and related products factory, Foundry

(dealing with iron and steel castings) and Machine shop

• The foundry and machine shop are currently under

performing according to their latest internal assessment.

Declining profitability, increasing fixed costs, declining

market share, increasing inventory levels and increasing

idle machines is a testimony to this.

• The client intends to analyze its current state & identify

strengths and weaknesses in order to capitalize its

resources and set direction to move forward.

• Diagnosis of current business operation, define corrective

measures

• Local market assessments and analysis of the existing

product range

• Identify opportunities for expansion of current business

lines

• Identify new business opportunities including possibilities of

joint ventures, mergers, acquisitions and green field

projects

• Develop five (5) year financial target based on opportunities

developed above


• A thorough assessment of their operations viz - Internal w.r.t manufacturing process / systems & external w.r.t market opportunities, product ranges etc to put together a 5 year growth strategy with an aim at reviving the 2 units.

• Detailed product performance analysis was done for each products (total of 11) sold by the foundry and the machine shop. Based on the individual product performances, detailed performance report was developed for two divisions as well.

• A cost-savings analysis, illustrating the savings realized by performance improvements, was also done as part of the study. • Based on inputs from the overall performance, balance sheet and cash flow statements were developed. • Comparison of performance indicators with comparable companies in the Middle East and across the globe.


• Reduction in inventory days, foundry rejections, customer quality problems, setting time, idle time & break down losses and improvements in sand-to-metal ratio are some of the key areas where savings are envisaged for the client’s Foundry and machine shop.

• The cost savings analysis provided strategic direction to the client to achieve its objective.

Case Study: Financial Support for Turnaround

Strategies of Distressed Firms

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Technology & Licensing Valuation

Description

• Innovators are often excited about inventions that they see as disruptive or providing superior technology

advantages. However, entrepreneurs need to clearly assess the business implication of commercialization

and licensing of a technology. The Business and Financial Services team with its sound technology

valuation platform has the unique advantage of impartially reviewing the claims of the innovator. A few such

tools include raw material analysis, review of technology benefits, market demand, supply chain analysis,

optimal pricing strategy, promotion strategy, and potential exit plan options. We help entrepreneurs with a

bankable report to raise capital and identify suitable investors. Support is also provided to help them design

business plans and approach for financing or building public private partnerships.

• Start up companies that need to understand the market potential of its technology; or in need of investors or partners for commercialization

• Technology-based companies trying to license a technology or define and understand the market for an existing technology

• Government agencies investigating the commercialization of technology

• Universities trying to find investors for spin-offs

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Clients to Target

The Client: National Jute Board of India


Techno Economic

Feasibility Analysis

of two new

innovations involving

jute and the

construction

industry

Market Related:




challenges


opportunities


products





requirements

• Sensitivity analysis including base case, bet

case and worst case scenario analysis.

• Preparation of bankable reports and investor

memorandum



projects in India, the inputs such as salaries were gathered, verified and adjusted accordingly. Comparable companies

were identified to obtain key indicators such as target capital structure, cash conversion cycle and other valuation

multiples. Using the inputs, key financial statements-Balance sheet, cash flows and income statement were built. Also,

key indicators such as Project IRR, NPV and equity IRR were computed. The dynamic model also included sensitivity

analysis. Major manufacturers, suppliers, customers and industry experts were contacted for the purpose of

understanding the market and getting key inputs for the model.


The project, with estimated capital requirements of over INR 10 crore is expected to have a project IRR of 40 percent

and a pay back period of around 3 years from start of operations. NJB has presented the pre feasibility study to

potential investors.

Case Study: Technology & Licensing Valuation

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Financial Planning & Analysis

Clients to Target

• Companies seeking to build its strength in competitive intelligence and know more about its competitors.

• Companies wanting to benchmark its performance against its competitors to devise strategies

• Companies wanting to know the performance of one of its divisions to assess whether to sell or invest more in the firm

Description

• What should be the optimal capital structure for our company? How do we apportion costs between

various SBUs or various service lines of the company? Which divisions are driving the company’s growth

trajectory and which should be divested in a 3-5 year timeline? These aspects of planning are an integral

component of every forward thinking company. Business and Financial Services supports detailed

financial analysis and planning and develops innovative business metrics for competitive benchmarking.

This assists the client to understand their competitive advantage better and fine tune their strategy to

maintain the winning edge.

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The Client: A Major Copper based company in India and Middle East


Devise the optimal

plan for building an

integrated copper

plant in Middle East.

The idea was to

produce 6 products

(20 sub products)

and sell in 3

geographies

Market Related:




challenges


opportunities


products





requirements

• Sensitivity analysis including base case, best

case and worst case scenario analysis.

• Preparation of bankable reports



projects in Middle East, the inputs such as salaries were gathered, verified and adjusted accordingly. Comparable

companies were identified to obtain key indicators such as target capital structure, cash conversion cycle and other

valuation multiples. Using the inputs, key financial statements-Balance sheet, cash flows and income statement were

built. Also, key indicators such as Project IRR, NPV and equity IRR were computed. The dynamic model also included

sensitivity analysis and scenario analysis.


The project, with estimated capital requirements of over USD 162 million is expected to have a project IRR of 16.5

percent and a pay back period of around 6 years from start of operations. The product types have been ordered in

terms of profitability. The company has expressed satisfaction over the results in terms of analyzing various scenarios

and making an informed decision.

Case Study: Financial Planning & Analysis

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Valuation of Start-Ups

Clients to Target

• Start-up companies trying to raise funds

• Start -ps companies trying to raise capital as part of series A, series B, or series C funding

• Start-up company founders looking at making a cash exit

• Companies considering acquiring a start up company

Description

• With the increasing success of entrepreneurial ventures, start-ups have started to become ubiquitous.

However, angel investments have also been tougher to get for the start-ups who find it tough to negotiate

with angel and venture capital investors. The Business and Financial Services team looks at a fair and

impartial valuation of start-ups in their bid to raise funding at all stages- seed funding, or series A,B, and C

of venture capital funding. The Business and Financial Services team assists start-ups to refine their

business model through dynamic modelling techniques. Scalability is a key factor of investor appraisal. The

Business and Financial Services team helps angels to understand the fair value of the start-up in terms of

expectations of future revenue and likely valuation of a potential exit or IPO in a 5-10 year timeframe.

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The Client: A Large Conglomerate in the Middle East


• A very large conglomerate in Middle East was looking to start a chain of wellness centres offering various cosmetic and wellness services as packages in the Middle East.

• The challenge was to identify the optimal combination of services and club them as packages that would attract customers while remaining financially attractive to the investor. This involved identifying various activities (referred as “service”) and the costs attributable separately to each of the services.

• To conduct an as-is assessment of the current wellness

market scenario in the region to identify the benchmark

revenue with cost structures and cost drivers.

• Estimate costs using activity based costing to identify

and do a Cost- Benefit analysis to determine

attractive packages.

• Incorporate the findings into a dynamic financial model

to identify the optimum investment with the projections

on return on investment. Identify the right capital

structure to maximize the investment returns.

Our Approach and Work = MARKET STUDY + FINANCIAL FEASIBILITY (Cost-Benefit & Sensitivity )

• A comprehensive 10 year financial plan was prepared covering revenue, operating and capital expense and the key financial metrics like IRR and NPV for right decision making.

• Costs incurred for each package were computed based on the services offered in each package, equipment used and the resources utilized by these services. Proposed the approach for the project in terms of number of investment phases, equipment finance mode, right capital structure, etc.

• Highly dynamic sensitivity analysis was also carried out for different business scenarios which includes Base case, Best Case and Worst case scenarios in addition to the combination of services in these scenarios.

• The dynamic nature of the sensitivity analysis along with Cost-Benefit analysis gives the flexibility for the client to understand the impact of various cost factors on the outcome of the project.


• Our market study coupled with the financial model comprising sensitivity analysis & Cost-Benefit analysis has helped the client to make specific decision on the nature of services to be incorporated in the facility.

• The financial model helped the client to present a strong case for this project not only to individual investors but also to public funding agencies for the cause of funding.

Case Study: Valuation of Start Ups

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Sample Screenshots of Business and Financial

Services Output

Sample Output 1: Representative Financial Parameters

Output for all Project Types

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Comprehensive assessment of all critical financial

parameters: Capital structure, key investor criteria and ratios

Sample Output 2: Representative Sensitivity Analysis

and Dashboard of a Valuation based Financial model

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Wide ranging Sensitivity Analysis and Interactive Dashboard

Sample Output 3: Representative Sections of Final Report

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Clear business Strategy emerging out of solid research backed by

robust modelling

frost & sullivan emerging technologies investment advisory services

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