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Notes from talk at IoT forum, May 21st 2013. Some thoughts on getting funding for your Internet of Things startup.
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Funding the Internet of Things
• So, you want to get your IoT idea funded?
• Mark Littlewood, The BLN, • @marklittlewood, @The_BLN• Run IoT Forum, Cambridge, June 27th
internetofthings.thebln.com
Are You Project or Business?
• Project– Discrete– Desirable product for consumer– ROI unimportant– Plan to deliver product to user
• Business – Build sustainable organisation– Clear focus on ROI– Plan to build business – processes for people, cash,
global distribution, blah, blah...internetofthings.thebln.com
MVP or ‘scratch an
itch’
Make £££ for
shareholders
Project vs Business – Funding Options
• Project– Customers– Grants – TSB, R&D Tax Credits, SMART Grants – 23rd May DEADLINE– Kickstarter– Don’t waste time with investors
• Business – Customers– Grants – TSB, R&D Tax Credits, SMART Grants – 23rd May DEADLINE– Equity Investment
• Friends and Family• Angels• Crowdcube etc• Venture Capital• Public Markets
internetofthings.thebln.com
The Golden Rule of Funding
£1 of customer cash≥
£10 of investor funding
internetofthings.thebln.com
Venture Funding – the Last Resort
• Only suitable for a very small percentage of ideas
• Be prepared to kiss a lot of frogs• Make sure you understand how VCs behave and
what motivates them
• If you want money from investors, understand their language
• Investors invest in lines, not dotsinternetofthings.thebln.com
Useful sources of information
• Grants & competitions - TSB• http://bit.ly/TSBGrants
• Crowdfunding• http://bit.ly/UKCrowdsources
• Other sources of funding – VC & Grants• http://bit.ly/UKGrantSources
internetofthings.thebln.com
IoT 13: 1 day on the Business of IoTConference | Exhibition | Networking
27th June, 2013, Cambridge
One to Watch Showcase: Entries by 27th May
SPECIAL OFFER FOR IOT MEET UP:
50% OFF REGISTRATION TO MIDNIGHT TONIGHT (USE IOT50PER)OR
£50 OFF REGISTRATION THIS WEEK (USE IOT50POUND)
http://internetofthings.thebln.com/[email protected]