supporting service specialisation: the role of incubators ...oct 16, 2019 · supporting service...
TRANSCRIPT
Supporting Service Specialisation: the role of incubators, accelerators, and S&T
Parks in delivering sector specific support
16th October 2019Belgrade, Serbia
Investing in technology startups
Kosta Andrić, Managing PartnerICT Hub Venture Serbia
Project funded by the European Union
Øicthub.rs
Project funded by the European Union
Silicon Valley
Serbian Ecosystem
VENTURE CAPITALAS
“TEEN SEX”
Project funded by the European Union
How our venture fund came to be?
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
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
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
Project funded by the European Union
Results so far
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
Future steps
Project funded by the European Union
Speaker contact details
• Kosta Andrić• Managing Partner, ICT Hub Venture• [email protected]• +381 63 448 881