7 lessons learned @wayra uk from working with 120 startup over 4 years

@fogeldavid

7 lessons learned @WayraUK

From working with120 Start-ups in 4 years

7 Years 12 Years

Deputy Director @Wayrauk

Talk

WHAT IS WAYRA

$77M $15M

125

Total Funding Raised to date

3rd-party investment pipeline next 5 months

Investment in Start-ups

$5.4MRevenue generated by contracts between TEF and start-ups

62Trials and contracts with TEF

Wayra UK in numbers

120Mentors

Wayra UK’s typical offer• €40,000 in cash + 40,000 in services

(coaches + mentors + access to TEF + free rent)

• 7-10% equity stake• 8-12 months of acceleration in central

London• Help in getting TEF as a partner• “Portfolio” relationship upon graduation until

liquidation event or put option exercised

A few Wayra companies

Lesson 1 Make sure it’s Top Down

Lesson 1It’s hard to innovate if it’s not on your bonus plan

Lesson 2Set expectations for Both sides

Lesson 2

Great meeting a Trial Good Trial A contract

Lesson 3Use a Translator

Lesson 3Can translate from “Corporate” to “start-up”

Lesson 3“Ok Let’s do it”

Startup be like

YESSSSComing in next weekto install product

Corporate be like

Ohh man Now I need to open PO

And then a new supplier And send a formal request…

Lesson 4Adapt your thinking and processes

Lesson 4Don’t be led by lawyers

Lesson 4Be Pro Startup

Lesson 5 – Bring the right team

Lesson 6

Engage the “Mother ship”

On a regular basis

• Public Sector clients

• Private Sector clients

• Industry Focus clients

Meet once a month in Wayra

Use our sells channels to help startups

Lesson 7 This is not a short term play

Remember getting a divorce is easier

Lesson 7 The right approach takes time

One last point We are not teachers they are not children

David.fogel@wayra.org

@fogeldavid

THANK YOU