alba innovation think big start small fintech event final v1

Fintech Commercialisation Support

THINK BIG - START SMALL

Andrew McGeeInnovation Centres Scotland Limited

24th February 2015 in Edinburgh

Making Fintech Commercialisation Happen

#fintechscot

“Hands-on intensive commercialisation support,

collaborating with partners; access to investment

and to global markets; sharing the burden whilst

helping start-up’s and entrepreneurs find their

routes-to-market more rapidly”

Tech Start-Up Needs


• Scottish Enterprise

• Highlands & Islands Enterprise

• Scottish Development International

• Alba Incubation Service

• Informatics Ventures

• Codebase

• E-Spark

• Business Gateway

• UP

• Elevator

Start-up Support Landscape Across Scotland



• Scottish Enterprise initiative

• Early stage innovative technology start-up’s across Scotland

• SE high growth pipeline & intervention framework products

• Fintech; Cleantech; Medtech; Edtech; Software; Digital Media

• Lean start-up methodology approach

• Delivering market traction and strategic investment

Alba Incubation Service

…operating as a ‘Virtual Management Team’


Alba Incubation Service

• Open Innovation • Strategic investors

• International Networks • Innovation Specialists

• ICT Specialists • Marketing Experts

• Strategy Workshops • Organisational Development

Partners and Network…

• 90 high growth tech start-up’s

• Raised £23m across 18 deals

• Secured grant funding of £644K

• Created 308 high tech jobs

• Delivered 23 technology focused events

• Networking with 500+ delegates


Achievements So Far…

Alba’s Cluster of Fintech Clients


Fintech Commercialisation Process

Sales & Marketing

Management Team

Investment Strategy

Financial Modelling

Product Development


Alba Commercialisation

Process

• The Leader CEO

• The Technologist CTO

• The Finder & Closer Salesman

• The Numbers CFO

Fintech Commercialisation Management Team


“60% of Equity Gap’s decision making is based on the top team in an early stage company. These are the people that we are investing in to deliver the plans they have sold us. We need to believe that they can do it, we do not want to spend time and money helping to create the team.”

Jock Millican, LINC Scotland Chairman and Gatekeeper of the Equity Gap Angel Syndicate in Edinburgh

Quote from Jock Millican; LINC Scotland


• Market Research know your customer

• Direct Marketing target audience

• Nurture Marketing bigger vision

• Generate Leads content marketing / social media

• Business Development Qualification/Qualification

• Sales – Close the Deal!

Fintech Commercialisation Sales & Marketing


Traction Organic Growth Company Value

• Compelling product or service

• Defined UK & International market & plan to reach it

• Competitor gap analysis

• IP / patents

• Skilled management team

• Business plan inc. financial projections

• Exit strategy; delivering significant investor returns

• Investor ready pitch; 1 page brief AND video

Fintech Commercialisation Investment Strategy


• Pricing Model

• Three Year Plan

• Cash Flow - P&L - Balance Sheet

• ROI / Cost Benefit Analysis

• Investment Funding

Fintech Commercialisation Financial Modelling


Grants FF Loans

Angel VC Crowdfunding

Corporate Venturing P2P Banks

Competitions

Fintech Commercialisation Product Development


Licensing and / or Open Innovation

• Proof of Concept • Software Development / Test

• Prototype Stage • Minimum Value Product (MVP)

• IP / Patents • Manufacturing / Production

• Business model canvas / mind mapping process

• Technology roadmap

• Management team structure

• Financial model

• Routes to market

• Project plan & ownership

• KPI’s and milestones

Fintech Commercialisation 90 Day Plan


Measuring Results Quarterly

Typical Case Study

• Reviewed & challenged business model elevator pitch

• Market research inc. trends / competitor analysis

• Marketing plan mindmap process

• International networking e.g. Global Scots / UKTI / Events

• SMART funding and innovation / marketing grants secured

• SDI international strategy workshop

• Secured match funding £250k; SIB and Angel Investor

• 3 new hires

• Won 17 new clients WW

• SE Account Management within 18 months


Client Testimonial

“The Alba Innovation Commercialisation Service has

given us efficient and practical advice, bringing

additional marketing resources and investment support

to the table at a vital time in the firm’s development. A

firm foundation has been built in partnership with Alba &

Scottish Enterprise to drive the business forward”

Willie Biggart; Founding Director & Chairman of Aptus Systems Limited


Andrew McGee; Commercialisation Adviser

+44 (0)7905 326 144

[email protected]

albainnovationcentre.com

@albainnovation

@mcgeeandrew

uk.linkedin.com/in/mcgeeandrew/

‘Making Fintech Commercialisation Happen’


alba innovation think big start small fintech event final v1

Documents

virtual management team

market research

equity gaps decision

high tech jobsdelivered

linc scotland chairman

early stage company

significant investor

equity gap angel syndicate