Naiot Venture Accelerator

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• Naiot Venture Accelerator
• Early Stage Ventures
• Amit Cherniak
• February 2007

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An Entrepreneur with an Idea
Ketchup and mustard in the same bottle
Coffee table book
Make your own Pizza
Ocean-smell perfume
Industries Kramerica
Manzier
Oil-container rubber ball
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The Business Environment

• The industry becomes more and more aware to the
  concept of out-sourcing innovation
• Big players become more and more active seeking
  for early-staged promising Startup companies

• In Israel there is lack of funds in pre-seed
  stages
• Promising Startup have difficulties attracting
  experienced management

Incubator
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The Incubators Program

• Supportive Environment
• Incubation period 2 years
• Initiated at the early 90s
• There are 25 Incubators
• Grant / loan from the Office of the Chief
  Scientist (OCS)
• Privatization

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Naiot at a glance

• An Incubator working under Israels OCS TIP
• HQ in Tel-Aviv and Yoqneam
• Fully owned by the OHT, acquired in 1997
• Makes four to six investments annually
• Incubated 47 companies (in ten years)
• Graduated companies raised gt180M
• More than 70 Success rate
• A portfolio combining both evolutionary and
  revolutionary technologies
• Investing mainly in Medical Devices , Software

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• Naiots Positioning
• A Hands-on Venture Capital
• Willing to Take
• High Development Risk

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Incubation Period

• Hands-on management team supporting the
  entrepreneurs
• Forming a company
• Product definition development
• Networking
• IP Strategy
• Defining Regulation path
• Reimbursement
• Scientific Advisory Board (SAB)
• Business Development
• Executive Mentoring
• Infrastructure Administration

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Incubation Period

• Follow on investments

• Meeting the companys milestones

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Due Diligence Process

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Due Diligence Process

• Entrepreneurs
• IP / Significant barrier
• Technology
• Market understanding

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CorAssist Cardiovascular
IP problem?
Its surely a Use patent
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CorAssist Cardiovascular

• Addressed Naiot late 2002 with merely a concept
• Claims CHF has an unknown segment DHF
• At the time low awareness to DHF
• We asked physicians
• We searched in medical database and journals
• We analyzed the market
• We decided to invest based on the chance that the
  market will be there in 12-24 months, since we
  understood that in case it will the need
  will be huge

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CorAssist Current status

• Secured 5.25M
• Animal studies Close to completion
• Clinical studies near future
• one of the 4 most interesting companies
  worldwide in the field of Congestive Heart
  Failure (CHF)

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Tips

• Understand the market youre approaching
• No need for full Business Plan
• Be enthusiastic yet patient
• Listen to others yet know your direction
• Treat investors who decline your venture the way
  you treat those who invested
• Plan your cash flow carefully
• Know when to quit

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• Time is Critical

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• Thank you Good Luck
• amit_at_naiot.com