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Challenges of Growth

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Co-founders' stake. Seed valuation. Location. Amount to raise. Milestones with the first round ... Managing burn and planning for the next round. First Round ... – PowerPoint PPT presentation

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Title: Challenges of Growth


1
  • Challenges of Growth
  • Presented by Yad Garcha,
  • Senior Vice President
  • GrowthWorks Capital Ltd.
  • BC Biotech Financing Forum
  • April 17, 2002

Venture Capital. Experience. Connections.
2
Pre Start-Up Issues
  • Technology ownership
  • IP?
  • Full time or part time founders
  • Co-founders stake
  • Seed valuation
  • Location
  • Amount to raise
  • Milestones with the first round

3
First Year
  • First Hire
  • Board of Directors or advisors
  • Founder issues
  • Business plan
  • File patents
  • Managing burn and planning for the next round.

4
First Round (A round?)
  • Champion (lead)
  • Intermediary or direct
  • Valuation and amount
  • Number of participants (VC vs. Retail)
  • Amount
  • Milestones before the next round
  • Board of Directors (size, composition)

5
Growth Phase
  • Source of next round (amount, valuation,
    players)
  • Hire in or grow your own talent?
  • Canadian or foreign talent
  • CFO or COO first
  • Founders growing or getting in the way?
  • Tough decisions to let go of dead wood.

6
Next Phase
  • New CEO and new Team?
  • Restructure Board to match business plan
  • Third party opinion on IP strategy.
  • Spell out the indication and the label.
  • Introspection about capacity of self and
    organization.
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