When Unicorns Fly - The Startup Podcast: Recent Episodes

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Christian Gabriel is co-founder and CEO of Capdesk, a tech start-up that helps private companies use their equity to attract, incentivise and reward their employees. In this episode, we cover: 

• The definition of a 'share' in terms of share value
• Negotiating valuations to prevent giving away too much equity too early
• Employee option pools
• The right type of lawyer and advisor
• Typical ownership percentages at each stage of fundraising

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Martijn De Wever is the founder & CEO of the successful VC firm 'Force Over Mass' and also the Fintech SaaS platform 'Floww'. In this episode we caught up with Martijn to discuss measuring internal performance, sharing your data with investors and the importance of the data room when fundraising. We covered:

• Using a model to measure internal performance

• Trust & data sharing considerations

• Common pitfalls to avoid when creating your data room

• Transparency & the future of fundraising 

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Itxaso del Palacio is a Partner at Notion, a leading European B2B SaaS focused VC. Prior to this, Itxaso was the Investment Partner for M12. In this episode, we discuss key strategic areas of early-stage B2B enterprise SaaS. We cover:

• Finding product-market fit
• The 5 metrics that Notion look out for (ARR/MRR, growth, churn, net retention, payback period, cash burn)
• Product development and the product roadmap
• The enterprise procurement journey, including the tender process, innovation teams and the impact of Covid-19

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Manu Gupta is one of the most influential VC investors in European tech, who as a founding team member and partner at Lakestar, helped raise $1.4bn in 6 years to become one of Europe’s largest tech venture funds. In this episode we had an open conversation with Manu around how to structure your thinking when looking at your business model. In particular we discussed the business models of successful unicorns, how your overall business model strategy will impact your decisions and finally when you should be considering changing your approach. Key topics covered:

• Deciding on your business model at an early stage

• Considerations when changing your business model

• Scenario analysis and spending strategy

• Monetising & retaining users

• Pivoting your payment model with existing customers

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Owen Richards is the founder & CEO of Air Marketing, the UK's leading outsourced business development agency specialising in outsourced SDR, B2B telemarketing and lead generation. In this episode we welcomed Owen to discuss the benefits and costs of integrating outsourced sales development representatives (SDRs) into your team. We specifically went into detail on what to expect from an SDR, how to stay involved in the process and tracking your sales metrics. Key topics covered:

• Expectations for outsourced sales development representatives (SDRs)

• Benefits and costs of outsourcing this function

• Tracking your key sales metrics

• A journey through onboarding and the ongoing relationship between founder & agency

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Daniella Raffel is an Associate at Dawn Capital, the Series A and B venture capital fund. In this episode, we welcome Daniela to unbox the deal-flow process. We cover each step of the journey, from reaching out to the investor and the initial pitch meeting through to the IC process. 

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In this episode, we welcome Rachel Gilley to discuss how to create and implement your PR and Marketing strategy, budgeting and cost allocation, and measuring performance and ROI. Specifically, we covered:

• The tools and frameworks in creating your strategy
• The Brand Playbook
• Creating the messaging framework
• Communicating the plan to internal and external stakeholders
• The Golden Nugget of information
• The shift of marketing from the physical to digital world

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Henry Whorwood is Head of Research & Consultancy at Beauhurst, the UK's leading company data platform. In this episode we welcomed Henry Whorwood to reflect on 2020 as a year for UK startup & scale-up fundraising. We specifically unpick the driving factors behind the UK fundraising market and explore data trends by both company size & sector. We also look to the future and predict what kind of year 2021 will be for fundraising and the impact this may have on you as a prospective fundraising founder. In detail we covered:

• The headline fundraising figures for 2020

• Assessing the factors influencing fundraising in 2020

• Analysis for first time fundraisers

• Fundraising sentiment today & outlook for 2021

• Early stage vs later stage fundraising trends

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Lu Li is the General Manager & Head of Global Strategy at Indiegogo, one of the first ever crowdfunding platforms allowing backers to invest in new and innovative products. Previously, Lu held positions at Euromoney & Dailymotion in account management, social media and cross border marketing positions. In this episode, we discuss product crowdfunding, how to assess whether it would be right for your business and how to give yourself the best chance of success. Lu also gives us insight into the cool products typically launched and the things not to do when product crowdfunding.

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Nigel Walker is the Deputy Director at Innovate UK responsible for lending & investor partnerships to support innovative SMEs. Nigel has a combination of financial services and operational experience, having spent over 10 years at each of Deutsche Bank, General Electric & Innovate UK. In this episode, we discuss the end-end process of applying for grant funding with Innovate UK and how to maximise your chances of success.

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Saj Huq is the Director of LORCA (London Office for Rapid Cybersecurity Advancement) - a cybersecurity programme funded by the department for Digital, Culture, Media & Sport (DCMS) and delivered by Plexal. In this episode, we discuss the importance of building an ecosystem when growing your business and specifically the benefits to sector specific and/ or deep-tech areas such as cybersecurity.

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Padraic Geraghty is a Senior Market Advisor at Enterprise Ireland who takes us through the various offerings Enterprise Ireland has for the Irish startup ecosytem. We specifically dive into:

- What is Enterprise Ireland & the appeal of setting up a business in Ireland

- Overview of the three main areas of support including:

1) New Frontiers Entrepreneur Development Programme - The national development programme for the first stage of your business 

2) Competitive Start Fund - £50k funding for 10% equity 

3) The High Potential Start-up unit (HPSU) - Seed investment matched funding 

• Extra support options available for HPSU clients 

• Feasibility grants & Market Discovery Fund  

• The rationale behind Enterprise Ireland directly investing in startups  

• Examples of company success stories

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Lars Kvaalen is the Partner of Antler, an early stage VC with a unique incubator programme. Lars Kvaalen talks us through the purpose of incubator programmes and specifically how Antler helps maximise your chances of success. In detail we covered:  

Pre-programme:

• The structure of Antler's programme

• Whether an incubator would be right for you and what level of experience is required

• The costs involved

During programme:

• Tips to help you find a co-host and develop your business concept

• What to expect during the 2 month build phase

• How to best prepare for the investment committee and demo day

Post programme:

• Making the most out of the alumni network

• Success stories

• Terms of Antler's investment

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Jeff Lynn is the executive Chairman and Co-Founder of Seedrs, the UK's largest and leading equity crowdfunding site. We discuss with Jeff whether crowdfunding is right for your business and then move onto how to run a successful crowdfunding campaign. We cover in detail the following:

• The key benefits and potential risks of crowdfunding  

• How crowdfunding fits into the overall fundraising process 

• Deciding what fundraising target to set & company valuation  

• How to make your campaign as attractive as possible to investors

• Company document requirements and disclosure of data  

• What happens if you miss your fundraising target  

• Seedrs fees 

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Spencer Lake is a Partner at Element Ventures, a $150m fund founded in 2019. Spencer guides us through a textbook journey of relationship building with a VC both pre-deal & post deal. Specifically, we cover:

• What makes a company an attractive investment proposition

• Preparation & expectation required for a first meeting  

• Good questions founders should be asking  

• The importance of soft skills   

• Good practices for maintaining your investor relationships  

• What a founder should expect from a VC joining their board  

• Managing conflicts between founders & investors

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Anthony Rose is the Founder and CEO of SeedLegals, the world’s first platform that lets founders easily create and negotiate legal documents they need for their business. In this episode, we dive into the detail with Anthony on: 

• The legal documents and contracts you should have in place when incorporating your business   

• Intellectual property rights and how to protect yourself   

• Simple rules when issuing equity in your business  

• Share options, the best way to issue them and their tax implications  

• Fundraising term sheets and company governance  

• The low cost approach to raising capital 

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James Kaye is the Director & Co-Founder of Big Ideas Machine, a B2B technology PR & Marketing agency. James helps us to tackle a key problem for early stage businesses whereby your brand is relatively unknown and unestablished, there is no marketing or PR function inhouse and it takes time, money & skills to run an effective PR campaign. We specifically dive into:  

• Building your PR & marketing strategy  

• Understanding your target customer  

• Recommended content creation  

• How to maximise PR publications & marketing channels 

• Measuring the ROI of a campaign  

• What to consider when hiring inhouse  

• What to expect when engaging with a PR agency  

• Cost considerations for inhouse hires, agencies and freelancers

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Work in Startups General Manager Stephen Oldroyd started his career at Goldman Sach's investment banking division working both in London & New York. Stephen takes us through the end-end process of start-up hiring including creating a job specification, ensuring it gets maximum exposure and then subsequently filtering through the applicants. We will be discussing:

• The importance of the first hires in a business  

• How to write an engaging job specification  

• Using multiple platforms/job boards to maximise exposure  

• How to use social media effectively  

• Key considerations when budgeting for recruitment  

• Applicant tracking systems (ATS) and candidate screening