DIGITAL ENTREPRENEUR HAMBURG

Venture Archive

Mittwoch

21

März 2018

0

COMMENTS

Digitalisierung in Südostasien – Ein Einblick mit Max Scheichenost

Written by , Posted in Analyse, Interview und Podcast

Max Scheichenost ist vor sechs Jahren nach Südostasien ausgewandert. Dort leitet er die Internetagentur Falcon Agency und ist selbst Gründer und Managing Partner von Alps Ventures, einem Inkubator für Digitalagenturen, mit Sitz in Singapur. Die Zeit in der er auswanderte beschreibt er als „Disneyland für Unternehmer“, er fand quasi einen Markt vor in dem noch alles möglich war und viel ausprobiert werden konnte. Im Gespräch mit Digitalkaufmann.de gibt er einen Einblick wie sich dieser Markt entwickelt hat, welche Projekte gerade ihn für sein Team spannend sind und wie die digitale Welt in Südostasien heute aussieht. Hier die Aufteilung des Gesprächs: Intro Max Scheichenost Südostasien per Definition (ab 1:58) Falcon Agency & Alps Ventures (ab 3:53) Inwiefern ist digitales Know How aus Europa „exportierbar“ und wie sah der Markt noch vor sechs Jahren aus? (ab 6:08) Wie sieht der digitale Markt in Südostasien heute aus und wie geht man mit dem Thema Talente/Mitarbeiter vor Ort um? (ab 9:55) Was sind die momentanen Hauptprojekte und Themen von Max und seinem Team? (ab18:15) Hat man in Südostasien als Unternehmen noch die Chance eine eigene Kundenbindung herzustellen, ohne sich die Kunden von großen Plattformen wie Amazon oder Alibaba zu „mieten“? (ab 21:15) Ausblick auf die […]

Montag

12

Mai 2014

0

COMMENTS

Will Deutschland diese Zukunft?

Written by , Posted in Kaufmann

In gewohnter deutscher Jammerstimme wird mal wieder das mangelnde Wagniskapital in Deutschland durch einen Gastkommentar im Spiegel beweint.  In den USA ist es so viel besser, da dort Internet-Milliardäre Ihre Gewinne im Silicon Valley reinvestieren und fleißig neue Firmen schaffen. In Deutschland gibt es diese Kapitalgeber nicht – das führt zu weniger Innovation bzw. keinen führenden deutschen Technologieunternehmen. Laut Artikel sind wir abgehängt und können die weitere Digitalisierung der deutschen Wirtschaft an den Nagel hängen. So weit so gut aber hier wird getan, als ob durch mehr Investitionen ein „Gründungsautomatismus“ losgetreten wird, der zu Erfolg führt. Fast nur noch lachhaft, ist dieser Paragraph: „Es (Buch von Netscape Gründer) ist quasi eine Anleitung, was zu tun ist, um erst fünf Millionen Dollar Anschubfinanzierung zu bekommen und damit ein Unternehmen zu basteln, das 500 Millionen wert ist. Wer allerdings versucht, in Berlin oder Frankfurt am Main ein Start-up hochzuziehen, kann alle Ratschläge und Regeln punktgenau befolgen und hat trotzdem nur geringe Chancen mit Millionen überschüttet zu werden.“ Na dann mal los. Ich bekomme die ersten 5 Millionen und dann steht, bei der richtigen geographischen Gegebenheit, der 500 Millionen Firmenbewertung ja schon nichts mehr im Weg. Schaut man aber mal etwas genauer über […]

Dienstag

1

Oktober 2013

0

COMMENTS

VC industry changing due to new platform – death or life?

Written by , Posted in Finanzierung

Recently, I have read a very interesting article that continuous my argument that aside from many sectors the financial sector is also changing rapidly due to digitalization. The author states that: “In my life, I have been very fortunate to chronicle the emergence of the commercial internet (as we know it) from its early days. Over next decade or so, I came to realize the amazing deflationary powers of the internet. It was — and still is — a great deflator, squeezing out middle men, friction and of course, profits.”  The author argues that the next wave of change will affect the way businesses raise venture capital. Intransparencies will be broken open by Angel List and other fundraising platforms that force a secretive VC industry to differentiate their offerings beyond the initial cash injection. While I agree with the broad thesis of the argument I would highlight two aspects that seem to be overlooked frequently. As previously reported the VC industry as a whole does not generate positive returns. It is an assets class where only very few firms make money. These firms generally are not “smarter” than others but have a strong PR function and therefore get more deal […]

Donnerstag

1

August 2013

0

COMMENTS

VCs vs. Angel

Written by , Posted in Finanzierung

Recently, there have been two interesting blog posts that once again highlight the ambivalence between choosing either a VC or private/business angel investor. One very entertaining rant(!) from Paul Jozefak (Liquid Labs) that focuses on the „more than money“ promise each VC makes. He has a very clear opinion what VCs really provide and how their „advertising talk“ should be evaluated by future entrepreneurs. (LINK) „Enough with the Kool-Aid though….without your money most entrepreneurs wouldn’t really care much about you. It’s OK, you still have your triathlon, cycling or foodie friends.“! Protonet on the other hand has chosen to ignore higher valuations and instead go with angel investors. More about their rational here: (LINK). Interestingly enough they left money on the table in order to go with business angels among other reasons due to the easier negotiations and less tight up management time. This is often an overlooked point – VCs are experts when it comes to negotiating deals (given that aside from trying to get a proprietary deal flow that is their only other expertise ;)). If you negotiate with experts you have to take into account that these negotiations will be very drawn out. Your starting point will most […]

Montag

15

Juli 2013

0

COMMENTS

Startup valuation…

Written by , Posted in Finanzierung

… remains a mystery. There is very little data and often very differing views on future start-up developments and valuations between entrepreneurs (IPO here we come), investors (hopeful but very cautious) and parents (you are doomed). Here comes a very good summary and an even prettier graphic from Anna Vital on Funders and Founders!       

Donnerstag

7

März 2013

0

COMMENTS

Conclusion: Venture Capital – does it still work?

Written by , Posted in Finanzierung

…finishing of my post series in regards to VC industry changes … Will prices for start-ups significantly change? In my opinion most start-ups will continue to raise the necessary funds in Germany. Firstly, venture capital never played a significant role here and secondly a large range of new capital sources have been developed over the last years. Corporate investors have become much more active and crowd funding offers a new way to raise initial proof of concept financing. Universities and government agencies have also been offering additional financing sources. So I believe that in terms of start-up financing there will not be a significant impact from the declining venture capital funding. Internationally, this will probably be a different story. But what does it mean for valuations? Again I believe that most German start-ups would not have been sold/continued financing rounds to/with VC funds in any case. Trade exits are the normal route to go for start-ups here and most corporates are not only willing to invest in start-ups but have been allocating significant amounts of capital. In terms of pricing I also believe that Germany is looking at incredibly low valuations anyhow and that equity markets are not an exit […]

Montag

18

Februar 2013

0

COMMENTS

What are the implications for start-ups?

Written by , Posted in Finanzierung

cont’d from last post VC funding… Does it matter whether venture capital is a failed asset class or not? Yes, some capital restrictions will apply but I would argue that there are sufficient alternative sources of capital to not significantly restrict new venture creation. Smart entrepreneurs can bootstrap, rely on angle networks or newly emerging crowd funding platforms in order to bring a venture through the proof of concept phase. Additional follow-up capital rounds can then be financed through trade investors who are currently committing significant amounts of capital. There is a significant interest from trade, publishing and pharma companies to invest in digital start-ups. These companies have hundredth of millions available for new venture creation or “corporate innovation” outsourcing. Almost daily new funds, initiatives or deals are announced by corporates who are looking to mitigate the impact of digitalization on their core investment business. These sources of funds should be able to replace venture funding (at least in Europe). In addition, German/European entrepreneurs are also cashing out and are ready to invest in new ventures. In Hamburg there is a wide range of angle / VC money available from successful industries partners e.g. HackFwd – Lars Hinrichs.  Therefore, I […]

Samstag

26

Januar 2013

1

COMMENTS

What consequences does this bring for VC funds, which have fully invested their current capital?

Written by , Posted in Finanzierung

As discussed in the previous post – times are tough for VC funds – but what implications does that bring? Funds need to start lasting value creation to attract new capital! As a first step I think that VCs need to reevaluate how they select investments. So far the industry has a way too high failure quote – I even think that VCs with their general herd behavior often miss interesting opportunities. Secondly, they need to increase their target range. There are lots of successful start-ups outside of the Silicon Valley and SV like hubs that would present interesting funding targets. Thirdly, they really need to develop beyond pure capital providers. Almost all of them will tell you that they are really value add above and beyond capital – that is generally just a statement but far from reality. Increasing number of start-up accelerator programs indicates that pure venture capital financing is not successful. More skills, support and knowledge are necessary. Investing in a VC environment is incredibly hard and finding the right investment criteria and sticking with them is quite a challenge. This is nicely described in Paul Graham’s “Black Swan Farming” article. Source: http://paulgraham.com/swan.html Small is beautiful VC firms […]

Dienstag

15

Januar 2013

1

COMMENTS

Venture Capital – does it still work?

Written by , Posted in Finanzierung

Previously, venture capital as an asset class has been critically discussed by Jochen and Alex in their respective blogs excitingcommerce.de and kassenzone.de. Source: http://www.excitingcommerce.de/2012/09/vcs-und-die-hohe-wahrscheinlichkeit-des-unwahrscheinlichen.html and http://www.kassenzone.de/2012/09/12/venture-capital-funktioniert-nicht/ In his last blog Alex already hinted that I am working on a more detailed analysis of the subject. Why do I find this interesting? Well, after having worked in the PE and VC industry I always wondered how it would feel to change sides – become an entrepreneur and learn the nuts and bolts of daily operational challenges. It has been very interesting and I am tempted to claim that “professional” VCs who have been in banking or consulting all their lives and therefore represent the favorite MBA trained elite that joins VC/PE firms on a junior level – know next to nothing except how to draw pretty slides, talk in “investor” slang at fancy conferences and run after hypes like a crazy bunch of headless chickens. This is clearly an exaggerated view but overall the question remains if  venture capital is an asset class with a future. The question is, if the more experienced senior staff has the ability to find deals and make investments that are profitable. In addition, I am wondering […]

Dienstag

4

Dezember 2012

0

COMMENTS

Web Future Awards in Hamburg!

Written by , Posted in Finanzierung

Web Future Award is now open for applications. Any new start-up in Hamburg should not miss this great PR opportunity BUT be warned… though judges, including our own TAREK MÜLLER, will evaluate your ideas: http://www.hamburg-media.net/awards-webfuture-jury/ Applications: http://www.hamburg-media.net/awards-webfuture-bewerbung/