#FEIF2014 18.06.14

„If I see a company coming out of

Estonia I am reasonably assured

that it will be executed well. For its

size, Estonia is generating more

high quality startups than you

would expect.”

Naval Ravikant,

Founder of AngelList

$25

M

Wall of Fame #estonianmafia

President of Estonia

Toomas H. Ilves

Ex-Skype

Andreessen Horowitz

Teleport

> Skype legacy, heritage, dream, role-model

> Small market - think big from the start

> Other alternatives of becoming a millionaire are limited

> Starting up has proven and made easy

> People with the attitude – I can do it!

> Political leadership - e-services, tax regime,

public focus

Ground for the paradise

But

Fundraising by EST tech startups

0

5 000 000

10 000 000

15 000 000

20 000 000

25 000 000

30 000 000

35 000 000

2006 2007 2008 2009 2010 2011 2012 2013 2014*

Total raised capital (EUR) Capital from Estonia (EUR)

*Estonian Startup Crowdsourced database

> Local supply of capital in early stages

> Technology transfer - skills and

financing

> Entrepreneurs (in residence)

> International staffing for C-level

> Network and contacts

What does Estonia need

to flourish startups?

VCs in Estonian startups NextView Ventures, Matrix Partners

Redpoint Ventures, Index Ventures, Dave McClure’s 500

Startups

Valar Ventures, SV Angels, IA Ventures,

Index Ventures, Seedcamp

and TAG

Conor Venture Partners, Fostergate

Holdings Ltd,

Entrepreneurs Fund

Intel Capital, Greycroft

Partners Charles River Ventures,

Atlas Venture,

Estonian Business Angels Network EstBAN is an

umbrella organization for business angels seeking

investment opportunities in Estonia and its

neighboring regions.

In EstBAN we welcome all positive minded

people with a passion for investing their time

and funds into startups

Joint deal screening and due diligence

Individual decision making

Invest in syndicate or individually

Investment range between 20 - 500K€

We wanna be a serious player in EstVCA

“1 billion” vision 2020.

Angel investments vs GDP

Estonia

Finland

Portugal

June 2014

71

Sample deals 2013 > StartUp Wise Guys - companies (ca.14)

> Gamefounders - companies (ca.10)

> Satrian - electronics, investment 25K+€*

> Oolala - e-commerce, 50K€* in syndicate

> Cloutex - SaaS, syndicate

> Cherry Media - e-commerce, 237K€* syndicate (follow up)

> 3Dtech-RD - 3D platform 300K€* syndicate

> NordCloud - SaaS, 300K€* syndicate

> MyWind - wind turbine tech, 25K€* syndicate (follow up)

> Goliath Wind - wind turbine tech, 165K€* syndicate (follow up)

> Deltasight - SaaS, 47K€*, syndicate

> SignWise - digital signature platform, syndicate

> Marinexplore - SaaS, OS, BigData, syndicate (follow up)

> Digital Sputnik - Lighting technology for film industry 800K, syn.

> Plumbr – SaaS, 800K€, syndicate

> Members are extremely busy with daily business - we

are competing with family, friends and hobbies

> Lack of experience in seed investments and

syndication – let’s share & learn together, incl with

FiBAN&EBAN

> Need to promote business angels as an important

part of the ecosystem - paradigm shift

> To attract more angels we need to establish attractive

co-investment schemes with Est/EU institutions

Challenges

> Consider venture-capital types of loans instead of

grants.

> Creation of co-investment funds with early stage

investors.

> Tax breaks for early stage investors.

> Investment readiness trainings for entrepreneurs

and early stage investors.

> Public awareness on early stage investing.

EBAN action plan for 2014 -

2020

„If you want to transform a society, you have to start with the young people, and give

them the kind of education that will allow them to handle the

future."

Toomas Hendrik Ilves - President of the country where Skype was born

Thank you for your attention!

Ivar Siimar

Contact us for further information: info@estban.ee www.estban.ee

#estonianmafia

Source: Garage48HUB