By now, most of the teams have left our caring nest of CEED Tech consortium, and are really flying across the world. But before we can wrap all our things up, here’s what we’ve been doing these last weeks:
By the ninth week, teams are still focusing on implementing their sales knowledge, as well as initial investor meetings, as their runways are getting tight.
In Startup Wise Guys, the focus was on business roadmaps and investor preparation. On Monday, guys from Microsoft came in for 1-2-1 mentoring. Meanwhile, all teams had clarified their investment hypothesis.
In Startup Yard, did less activities this week to give more time for teams to close their deals. Some teams launched their products, others have been closing major partnerships. Meanwhile, there were workshops on financial projections, Investor's deck, B2B sales training and management.
In The Spot, they focused on both online and offline sales. There was an external workshop on online marketing and growth hacking. And another on "How to sell to corporations" by an external mentor. Also, one team launched their initial product to the market and another one signed a partnership deal in their first non-domestic market.
Tenth week was as follows:
In Digital Factory, the weekly goal was to focusing on teams, development and customer development. So they only had one speed mentoring event with Ágnes Hűvös, László Korányi, László Marozsi and Zsófia Kerekes.
In Startup Wise Guys, the focus was on fundraising. They had a 2-day event on it consisting of various workshops. Understanding Angel investors workshop. Raising capital competitively. Crowdfunding platforms. And teams had their first full interaction with investors with the opportunity to prepare for follow-up discussions with the same investors and new ones in week 11.
In Startup Yard, 3 teams went to CEBIT and brought back some interesting contacts. There were no planned activities for this week as the focus was on building. Teams were finalising their decks and pitch for Demo Day. Their financial projections are ready and they know how much they need to raise to break-even.
In The Spot, they had an internal FIWARE alignment week. The FIWARE workshop’s purpose was to get the accelerator team and startups on the same page about progress of FIWARE implementation. There were also pitch trainings for two teams attending Money 20/20 conference in Copenhagen. More pilot customers were also acquired and partnerships agreed.
Eleventh week was as follows:
In Digital Factory, focus was on community building. They had some mentors coming in on Thursday: László Bacsa, Collins Mary, Imre Hild, Patrick Vlaskovits. And a workshop on Community building on Friday by Tímea Szabó (Admistration), Ádám Jermann (Final reporting), Vera Juhász (Communication with the IT team).
In Startup Yard, teams had finalised their pitch decks and financial projections. There were also two pitch training sessions and a workshop with Facebook on advertising; a voice workshop and a Fiware day. Everybody was getting ready for Demo Day.
Twelfth week was as follows:
In Digital Factory, teams prepared for the pitching. There were workshops by György Tardy and András Bujna (AzAutom) on their FiWARE experiences. Also, James York talked about early stage business development, customer/client discovery and customer acquisition strategies, tactics. Levente Zsemberi, Viktor Gerő, László Kiszely came in for some speed mentoring and Jeff Burton talked about US Market Entry Strategies
In Startup Wise Guys, focus was on finalising investor materials. There was a pitch training for 2 days 1-2-1 sessions. The teams' presentation skills improved significantly following additional coaching. This had a big impact on their overall confidence when working with investors. Teams are working hard to build the growth metrics needed for fundraising.
In Startup Yard, there was more pitch training and investors preparation. Three pitch training workshops and one management day. Teams are ready now. Goals are set. Strategy is clear.
In The Spot, corporate partners were brought in to provide additional mentoring to the teams. The pitch training sessions for Demo Day also begun. The teams have been gearing towards the end of the program.
Thirteenth week was as follows:
In Digital Factory, had their Demo Day and a gala dinner with mentors, potential investors and key persons of the local startup ecosystem. On Monday there was a workshop on Investment experiences: fundraising and milestones by Rumen Ilijev. And on Tuesday teams pitched at the Demo Day.
In Startup Wise Guys, focus was also on the Tallinn Demo Day. There were a couple of final pitch practices, investor material preparation and a Demo day dress rehearsal with SWG supervisory board. Tallinn Demo Day got some great response from investors. A couple of term sheets are already under discussion.
In Startup Yard, they also had their Demo Day with 180 people attending. And they got very good feedback from the mentors who saw the progress of each team after two months of hard work.
In The Spot, teams were continuing their business development and gearing up for the Demo Day. There was a workshop on developing different pricing strategies and customer perspective on pricing of products and services. And during the next week they had their Demo Day that was also a success.
CEED Tech program’s now finished. By now, teams are getting more and more traction. Flying across the world. Getting their first investments!
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