What does it take to make a

successful startup

07/06/2014Mindaugas Glodas

Nextury Ventures• Venture Capital Fund (est. Dec 2013)

• Early stage startups and new fast growth and high potential value ideas

• Strategic and operational development

• Executive advisors network

• Cooperation with Lithuanian business and technical Universities.

We aim for shared value that benefit our investors, our portfolio companies’ founders and employees, as well as other stakeholders, the environment, and society in general.

Mindaugas Glodas, General ManagerResponsible for operational management of Nextury Ventures. 15 years experience in International ICT industry. Mindaugas held multiple executive positions at IBM and Microsoft in the Baltics and Central and Eastern Europe. Mindaugas is an active member of society and currently serves as Board Member at Kaunas Technical University, Member of Business Council at ISM and Member of Presidium of the Lithuanian Business Confederation.

http://lt.linkedin.com/in/glodas

Ilja Laurs, ChairmanEuropean Manager of the Year 2011 by European Business Press Association, 25 European Tech Leaders by Wall Street Journal, Top 40 most influential people in mobile communications by Informa Telecoms and Media, 10 Start-ups That Will Change Your Life by TIME magazine and Technology Pioneer 2011 by World Economic Forum are only a few of his numerous industry achievements. As a recognized thought leader, Ilja speaks on all major telecommunication conferences and is regularly quoted in Wall Street Journal, Forbes, CNN, CNBC, BBC, Bloomberg and many other news sources. In February 2010, Ilja made the cover of the America's leading entrepreneurship magazine "Entrepreneur”.Chairman of GetJar, world’s largest independent mobile application store.

http://lt.linkedin.com/in/laurs

Nextury Ventures Founders

Nextury Venturesnext• coming after this one : coming after the one that

just came, happened, etc

cen-tu-ry• a group, sequence, or series of 100 like things• a company in the ancient Roman army, originally of one hundred men

ven-ture• to start to do something new or different that usually involves risk

ApproachStart

•Early stage/founding/team building

•Emerging high ROI areas: mobile, 3D printing, mind-reading, new business models, etc.

•Hand picked teams and projects with $1-10b opportunities

Develop•Close Engagement•Validate locally/

expand internationally•Shared Services

•C Level Executive Advisors

•Cooperation with local accelerators and incubators

Fund/ Exit•Local VC’s•Regional VC’s•International VC’s

•Acquisition•Merger•IPO

•Expand to adjacent less mature markets: Belarus, Ukraine, Russia

Community•Close cooperation with

key business/ technical/ arts education institutions

•Active engagement with media to provide visibility

•Publicly disseminate startup culture through citizenship activities

• Build value not profit• Realize value via IPO / M&A / Secondary

market, not dividendsGoal

• Superfocused – do one thing but do it best• Superfast – burn money but go fast• The best – only the frontrunner wins

Execution

• Get Angel/VC money • Use the money to buy the best

people/technology/visibilityResources

Modern Startup Philosophy

What’s Great About Eastern Europe

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• Educated• Technically savvy• “Hungry” and willing to take the risk

People

• Developed internet and supporting infrastructure

• High mobile penetration and usage• Unique areas of excellence

Infrastructure

• Convenient geographical location• Strong ties with East/West, access to

Western and Eastern fundingEnvironment

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50% vs 100%. Of What?

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Vision Without Execution is Hallucination

You will not Catch a Shark in a Bathtub

Do not even try to hide big idea

Someone has been here before

Never Stop/ Iterate

Diverse but Aligned

Stay Well Organized but Don’t Overdo It

Stay Close to Each Other

Education Does Add Economic Value

Creating & Capturing Academic Value

• During 2007-2011, Stanford University students raised $4.1b in venture capital investments

• That’s over $1b every year!

• Since 1930, Stanford students built • 40,000 companies• 5,400,000 jobs• $2,700,000,000,000 in annual

revenues

In fact, it’s not only about StanfordInnovation and technology are driven by young entrepreneurs:

• Students of just six top US universities raised $10.6b during 2007-2011

• That’s over $2.5b/y

• Which is 0.034% of GDP

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European Commission Data / europa.eu

Lithuania

United Kingdom

Israel

Poland

Top 6 US universities

EU is far behind US in technology fundingVC investment relative to GDP – 6 US universities beat most EU countries

IT Studies in Lithuania

Infobalt study

An ongoing decline of interest in IT studies causes severe shortages of IT staff in Lithuania and Europe

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“The Manifesto” (just google it)

Thank you!mindaugas@nextury.co

m+370 650 33333