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Gorilla Labs - Venture Builder

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Nikhil Jacob
Nikhil Jacob

Gorilla Labs is a Venture builder (startup studio) designed to internalize ideation, rapidly iterate MVPs, and deploy accelerated go-to-market strategies for commercialization using Lean Startup methodology. Co-founded by 2 INSEAD MBAs (Class of 2015) Nikhil Jacob Rubens Nigoghossian More about venture builders: http://venturebeat.com/2015/01/18/how-venture-builders-are-changing-the-startup-model/ What is a startup studio? http://upstart.bizjournals.com/multimedia/interactives/2015/04/what-the-heck-is-a-startup-factory.html Author's blog on experience in the Southeast Asia venture capital ecosystem http://theventurevault.com/

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GORILLA LABS Venture Builder NIKHIL JACOB RUBENS NIGOGHOSSIAN
WHAT WE DO venture builder: an execution-focused approach to build new businesses ...ideating, testing, and executing revenue generating concepts... … with an exit strategy in mind A team of dedicated, professional entrepreneurs...
go-to-market PREPARATION DISRUPTING THE INCUBATOR entrepreneurs test filtered ideas until achieving product-market fit for funding VERTICAL IDEATION TESTING selection generation validation scaling GROWTH 2 verticals selected 140 ideas generated 14 MVPs tested 7 ventures seed-funded 4 ventures at Series A+ ENTREPRENEUR
PAIN POINTS there are various pain points in the current incubator model TALENT Incentives attract diverse pool; program not long enough (100 days) to develop latent talent IDEAS Ideas are not pre- validated for market size and revenue potential GROWTH Good processes in place to validate product/market fit Mentorship and $ for qualified teams Limited options for liquidity EXIT FUNDING Limited talent (ability to execute) and lack of revenue potential (“uber for X”) = limited path to liquidity for investors
OUR SOLUTION we redefine the model from idea to execution focus TALENT Identify individuals with track record of executive capability; recycle through testing IDEAS Internal ideation, pain points, and business model pivots to latent markets GROWTH Good processes in place to validate product/market fit Mentorship and $ for qualified teams Position ventures for corp acquisition prospects EXIT FUNDING INTERNALIZED talent and ideation funneled through good process enables a path to liquidity for investors
venture builder execution execution variable variableTalent internal internal diverse diverseIdeas high high low lowExit success focused eCom / mktplace diverse singularVerticals COMPETITIVE ANALYSIS unique value proposition similar to Rocket, with separate vertical focus Gorilla Labs AcceleratorsRocket Internet enablerself-funded biz builder risk-taker Startups
Q1 Q2 Q3 Q4 Idea 1 test grow Idea 2 test Idea 3 test grow funding Idea 4 test Idea 5 test growth TALENT MANAGEMENT talent measured on alignment to process and metrics, not success vs failure MVP Rotation - Concept validation: 3 months, $40K - If no validation, entrepreneur pivots to new MVP - Some MVPs expected to fail. Entrepreneurs benefit from learning curve and relocate to new process Go-To-Market pursuit - If MVP is validated, he/she continues to Go-to-Market phase - Less ventures expected to fail, co’s evolve to seek funding during growth - Depending on skillset/fit, entrepreneur may spin off with funded venture Professional entrepreneurs compensated with salary + equity to lead the validation process towards a path of funding & growth Multiple Entrepreneurs testing, pivoting, and advancing concepts
TALENT SOURCING we have a clear path to identify and recruit highly talented individuals MBA Global MBA profile fit Advisory Advisory ecosystem Global Tap professional network Leader Culture Global Professional - strong connections - available talent pool - proven capabilities - diverse industry scope - seniority influence - extensive talent reach - global corporations - top banking analysts - reputed alma maters
TALENT PIPELINE qualified candidates with expressed soft commitments [CONFIDENTIAL] eCommerce startup to series-B Germany >> Private Equity / M&A 5 yrs banking / startups INSEAD MBA [CONFIDENTIAL] FinTech startup >> CFO Israel >> McKinsey 4 yrs consulting / startups INSEAD MBA [CONFIDENTIAL] Rocket >> portfolio COO Latin America >> McKinsey 5 yrs consulting / startups access to Singaporean VCs PRIVATE EQUITY / M&A
ANNUAL FUNDING MODEL $(XX)M ask for 2-year operations to generate 4x net return in 6 years 14 MVPs 7 GTMs 4 start-ups to be funded 140 ideas Series A exit Series B exit $1.5M investment for Y1-Y2 $20 M gross return based on exits 1 0 6 year 24 months operation 6 entrepreneurs staffed 2 startups acquired ACTIVITY INVESTOR FIGURES 4 startups seeded externally Notes: Seed $0.5M fundraised externally, valuation at 5x revenue | Equity model: cap table and funnel metrics available upon request confid ential confiden tial confiden tial
CONCEPT Gorilla Labs
go-to-market GTM BUSINESS MODEL validate filtered ideas through process repeatedly until reaching product-market fit VERTICAL IDEATION MVP selection generation validation scaling GROWTH 2 verticals selected 140 ideas generated 14 MVPs tested 7 ventures seed-funded 4 ventures at Series A+ ENTREPRENEUR
where to play ○ Research trends / growth ○ Select top 5; map value chains VERTICAL FOCUS do what you know and build capabilities around it MAP LANDSCAPE ISOLATE TOP OPTIONS SELECT VERTICAL(S) vertical selection ○ Evaluate to BUILD - SELL - SCALE ○ Rank to vertical attractiveness criteria research universe ○ Map sector options ○ Gather market data Financial Services Education Technology
SOURCE IDEATE ANALYZE FILTER BIZ MODEL SPINOFF apply current tech to new markets PAIN POINTS Industry experts & Board of Advisors EXPLORATION ○ expert interviews ○ ideation sessions evaluate parameters BUILD - SELL - SCALE ○ tech capacity ○ ops complexity ○ commercial ability ○ market size ALIGNMENT ○ force rank ○ cluster by segment IDEATION ideas are commodities - ideate often and filter quickly
VALIDATION experimental, iterative approach to learn customer needs Idea Product Test Analyze ➔Pain point ➔Solution ➔Value proposition ➔Customer deep-dive ➔Market segmentation ➔Early adopters ➔Beta version sales ➔Engage stakeholders ➔Data gathering ➔Online traffic ➔Sales traction ➔Customers feedback
GO-TO-MARKET company is structured post-funding to high growth base Market ready product Go To Market plan Financials ➔Technology needs ➔Suppliers & other stakeholders ➔Operations set-up Team ➔Target segments ➔Distribution channels ➔Pricing ➔Advertising plan ➔Revenue model (monetization) ➔Financial forecast & returns ➔Identify and secure funding needs, define capital allocation ➔Define first roles to be filled ➔Recruiting & hiring key talent CEO Sales OpsTech
GROWTH / SCALE venture to reach operational independence Gorilla Labs role: leadership guidance + approval of strategic decisions, as board members Exit option: opportunity for exit options during follow-on investment rounds Follow plan execution Retain active board member status Close attention to talent Track financials & funding needs
EXIT OPPORTUNITIES Singapore liquidity trends favor M&A prospects vs. IPO VALUATION TRENDS - global corporations - 1000+ startups - 2 Unicorns ($1B+) - 12 Centaurs ($100M+) - 27 Ponies ($10M+) - limited IPO activity LIQUIDITY TRENDS - approximately 32 startups acquired (average SGD$5-10M) - Singapore is a hub for Asia HQ of many global companies - M&A events more likely than IPO
TEAM Gorilla Labs
SILVERBACK SQUAD capable co-founders Nikhil Jacob Rubens Nigoghossian Head of Innovation 7+ years Finance / Strategy VC fund inception / startup judge INSEAD MBA ‘15 Head of Operations 8+ years Business Development / M&A Startup / incubator projects INSEAD MBA ‘15 Professional experience:
CRITICAL THINKER connects the dots creates order in chaos not afraid to make the call CREATIVITY bends useful rules breaks useless rules pivot, pivot, pivot TEAM BUILDER constructively debates sees the value of the sum a coachable coach MARKET FOCUS knows a lot about a lot obsessed with the customer anticipates change RISK APPETITE INTENSITY AMBITIOUS GENUINELY NICE ENTREPRENEURIAL does more with less bias towards action hustles through hardship ENTREPRENEUR TALENT PROFILE who we look for
APPENDIXGorilla Labs
WHAT IS A STARTUP FACTORY Source: http://upstart.bizjournals.com/multimedia/interactives/2015/04/what-the-heck-is-a-startup-factory.html
IDEATION OUTPUTS sample of ideas generated among selected verticals Education tech ● Prodigy-type loan offering for int’l law/med grad students (high earning potential) ● Integrated payment P2P app to split and pay expenses ● Crowdsourcing for social/renewable projects with competitive ROI ● Blockchain for X (security encryption for data transmission) ● Crowdsourced gifting (API with amazon/facebook) ● GMAT test-prep distribution for similar tests (CFA, CPA, etc) ● Education platform (learning suggestor) ● Data visualization of educational performance ● e-consulting platform utilizing PhDs for projects ● Content creation - case / project repository online for schools SAMPLE IDEATION OUTPUTS Finance / Payments
GROWTH TRENDS capital is invested in revenue-generating businesses, not growth trends http://tomtunguz.com/fastest-growing-areas-investment-2015/
REFERENCES LIQUIDITY TRENDS and EXIT STRATEGIES FOR STARTUPS ● http://e27.co/is-ipo-a-plausible-exit-strategy-for-singapore-startups/ ● https://www.techinasia.com/cheatsheet-of-technology-startup-acquisitions-in-southeast-asia/ ● http://steveblank.com/2011/03/18/new-rules-for-the-new-bubble/ ● https://www.cbinsights.com/blog/startups-acquiring-startups/ VENTURE BUILDERS / STARTUP STUDIOS ● http://venturebeat.com/2015/01/18/how-venture-builders-are-changing-the-startup-model/ ● http://upstart.bizjournals.com/multimedia/interactives/2015/04/what-the-heck-is-a-startup-factory.html ● http://www.nesta.org.uk/blog/startup-studios-better-model-build-startups-1 ● https://medium.com/spook-studio/wtf-is-a-startup-studio-anyway-e9d4440f24bb ● http://www.theverge.com/2013/6/20/4447920/betaworks-a-startup-studio-doubles-down-on-creating-a-company- of

More Related Content

Gorilla Labs - Venture Builder

  • 1. GORILLA LABS Venture Builder NIKHIL JACOB RUBENS NIGOGHOSSIAN
  • 2. WHAT WE DO venture builder: an execution-focused approach to build new businesses ...ideating, testing, and executing revenue generating concepts... … with an exit strategy in mind A team of dedicated, professional entrepreneurs...
  • 3. go-to-market PREPARATION DISRUPTING THE INCUBATOR entrepreneurs test filtered ideas until achieving product-market fit for funding VERTICAL IDEATION TESTING selection generation validation scaling GROWTH 2 verticals selected 140 ideas generated 14 MVPs tested 7 ventures seed-funded 4 ventures at Series A+ ENTREPRENEUR
  • 4. PAIN POINTS there are various pain points in the current incubator model TALENT Incentives attract diverse pool; program not long enough (100 days) to develop latent talent IDEAS Ideas are not pre- validated for market size and revenue potential GROWTH Good processes in place to validate product/market fit Mentorship and $ for qualified teams Limited options for liquidity EXIT FUNDING Limited talent (ability to execute) and lack of revenue potential (“uber for X”) = limited path to liquidity for investors
  • 5. OUR SOLUTION we redefine the model from idea to execution focus TALENT Identify individuals with track record of executive capability; recycle through testing IDEAS Internal ideation, pain points, and business model pivots to latent markets GROWTH Good processes in place to validate product/market fit Mentorship and $ for qualified teams Position ventures for corp acquisition prospects EXIT FUNDING INTERNALIZED talent and ideation funneled through good process enables a path to liquidity for investors
  • 6. venture builder execution execution variable variableTalent internal internal diverse diverseIdeas high high low lowExit success focused eCom / mktplace diverse singularVerticals COMPETITIVE ANALYSIS unique value proposition similar to Rocket, with separate vertical focus Gorilla Labs AcceleratorsRocket Internet enablerself-funded biz builder risk-taker Startups
  • 7. Q1 Q2 Q3 Q4 Idea 1 test grow Idea 2 test Idea 3 test grow funding Idea 4 test Idea 5 test growth TALENT MANAGEMENT talent measured on alignment to process and metrics, not success vs failure MVP Rotation - Concept validation: 3 months, $40K - If no validation, entrepreneur pivots to new MVP - Some MVPs expected to fail. Entrepreneurs benefit from learning curve and relocate to new process Go-To-Market pursuit - If MVP is validated, he/she continues to Go-to-Market phase - Less ventures expected to fail, co’s evolve to seek funding during growth - Depending on skillset/fit, entrepreneur may spin off with funded venture Professional entrepreneurs compensated with salary + equity to lead the validation process towards a path of funding & growth Multiple Entrepreneurs testing, pivoting, and advancing concepts
  • 8. TALENT SOURCING we have a clear path to identify and recruit highly talented individuals MBA Global MBA profile fit Advisory Advisory ecosystem Global Tap professional network Leader Culture Global Professional - strong connections - available talent pool - proven capabilities - diverse industry scope - seniority influence - extensive talent reach - global corporations - top banking analysts - reputed alma maters
  • 9. TALENT PIPELINE qualified candidates with expressed soft commitments [CONFIDENTIAL] eCommerce startup to series-B Germany >> Private Equity / M&A 5 yrs banking / startups INSEAD MBA [CONFIDENTIAL] FinTech startup >> CFO Israel >> McKinsey 4 yrs consulting / startups INSEAD MBA [CONFIDENTIAL] Rocket >> portfolio COO Latin America >> McKinsey 5 yrs consulting / startups access to Singaporean VCs PRIVATE EQUITY / M&A
  • 10. ANNUAL FUNDING MODEL $(XX)M ask for 2-year operations to generate 4x net return in 6 years 14 MVPs 7 GTMs 4 start-ups to be funded 140 ideas Series A exit Series B exit $1.5M investment for Y1-Y2 $20 M gross return based on exits 1 0 6 year 24 months operation 6 entrepreneurs staffed 2 startups acquired ACTIVITY INVESTOR FIGURES 4 startups seeded externally Notes: Seed $0.5M fundraised externally, valuation at 5x revenue | Equity model: cap table and funnel metrics available upon request confid ential confiden tial confiden tial
  • 12. go-to-market GTM BUSINESS MODEL validate filtered ideas through process repeatedly until reaching product-market fit VERTICAL IDEATION MVP selection generation validation scaling GROWTH 2 verticals selected 140 ideas generated 14 MVPs tested 7 ventures seed-funded 4 ventures at Series A+ ENTREPRENEUR
  • 13. where to play ○ Research trends / growth ○ Select top 5; map value chains VERTICAL FOCUS do what you know and build capabilities around it MAP LANDSCAPE ISOLATE TOP OPTIONS SELECT VERTICAL(S) vertical selection ○ Evaluate to BUILD - SELL - SCALE ○ Rank to vertical attractiveness criteria research universe ○ Map sector options ○ Gather market data Financial Services Education Technology
  • 14. SOURCE IDEATE ANALYZE FILTER BIZ MODEL SPINOFF apply current tech to new markets PAIN POINTS Industry experts & Board of Advisors EXPLORATION ○ expert interviews ○ ideation sessions evaluate parameters BUILD - SELL - SCALE ○ tech capacity ○ ops complexity ○ commercial ability ○ market size ALIGNMENT ○ force rank ○ cluster by segment IDEATION ideas are commodities - ideate often and filter quickly
  • 15. VALIDATION experimental, iterative approach to learn customer needs Idea Product Test Analyze ➔Pain point ➔Solution ➔Value proposition ➔Customer deep-dive ➔Market segmentation ➔Early adopters ➔Beta version sales ➔Engage stakeholders ➔Data gathering ➔Online traffic ➔Sales traction ➔Customers feedback
  • 16. GO-TO-MARKET company is structured post-funding to high growth base Market ready product Go To Market plan Financials ➔Technology needs ➔Suppliers & other stakeholders ➔Operations set-up Team ➔Target segments ➔Distribution channels ➔Pricing ➔Advertising plan ➔Revenue model (monetization) ➔Financial forecast & returns ➔Identify and secure funding needs, define capital allocation ➔Define first roles to be filled ➔Recruiting & hiring key talent CEO Sales OpsTech
  • 17. GROWTH / SCALE venture to reach operational independence Gorilla Labs role: leadership guidance + approval of strategic decisions, as board members Exit option: opportunity for exit options during follow-on investment rounds Follow plan execution Retain active board member status Close attention to talent Track financials & funding needs
  • 18. EXIT OPPORTUNITIES Singapore liquidity trends favor M&A prospects vs. IPO VALUATION TRENDS - global corporations - 1000+ startups - 2 Unicorns ($1B+) - 12 Centaurs ($100M+) - 27 Ponies ($10M+) - limited IPO activity LIQUIDITY TRENDS - approximately 32 startups acquired (average SGD$5-10M) - Singapore is a hub for Asia HQ of many global companies - M&A events more likely than IPO
  • 20. SILVERBACK SQUAD capable co-founders Nikhil Jacob Rubens Nigoghossian Head of Innovation 7+ years Finance / Strategy VC fund inception / startup judge INSEAD MBA ‘15 Head of Operations 8+ years Business Development / M&A Startup / incubator projects INSEAD MBA ‘15 Professional experience:
  • 21. CRITICAL THINKER connects the dots creates order in chaos not afraid to make the call CREATIVITY bends useful rules breaks useless rules pivot, pivot, pivot TEAM BUILDER constructively debates sees the value of the sum a coachable coach MARKET FOCUS knows a lot about a lot obsessed with the customer anticipates change RISK APPETITE INTENSITY AMBITIOUS GENUINELY NICE ENTREPRENEURIAL does more with less bias towards action hustles through hardship ENTREPRENEUR TALENT PROFILE who we look for
  • 23. WHAT IS A STARTUP FACTORY Source: http://upstart.bizjournals.com/multimedia/interactives/2015/04/what-the-heck-is-a-startup-factory.html
  • 24. IDEATION OUTPUTS sample of ideas generated among selected verticals Education tech ● Prodigy-type loan offering for int’l law/med grad students (high earning potential) ● Integrated payment P2P app to split and pay expenses ● Crowdsourcing for social/renewable projects with competitive ROI ● Blockchain for X (security encryption for data transmission) ● Crowdsourced gifting (API with amazon/facebook) ● GMAT test-prep distribution for similar tests (CFA, CPA, etc) ● Education platform (learning suggestor) ● Data visualization of educational performance ● e-consulting platform utilizing PhDs for projects ● Content creation - case / project repository online for schools SAMPLE IDEATION OUTPUTS Finance / Payments
  • 25. GROWTH TRENDS capital is invested in revenue-generating businesses, not growth trends http://tomtunguz.com/fastest-growing-areas-investment-2015/
  • 26. REFERENCES LIQUIDITY TRENDS and EXIT STRATEGIES FOR STARTUPS ● http://e27.co/is-ipo-a-plausible-exit-strategy-for-singapore-startups/ ● https://www.techinasia.com/cheatsheet-of-technology-startup-acquisitions-in-southeast-asia/ ● http://steveblank.com/2011/03/18/new-rules-for-the-new-bubble/ ● https://www.cbinsights.com/blog/startups-acquiring-startups/ VENTURE BUILDERS / STARTUP STUDIOS ● http://venturebeat.com/2015/01/18/how-venture-builders-are-changing-the-startup-model/ ● http://upstart.bizjournals.com/multimedia/interactives/2015/04/what-the-heck-is-a-startup-factory.html ● http://www.nesta.org.uk/blog/startup-studios-better-model-build-startups-1 ● https://medium.com/spook-studio/wtf-is-a-startup-studio-anyway-e9d4440f24bb ● http://www.theverge.com/2013/6/20/4447920/betaworks-a-startup-studio-doubles-down-on-creating-a-company- of

Editor's Notes

  1. Source: http://leanstack.com/7-habits-for-running-highly-effective-experiments/
  2. Source: http://upstart.bizjournals.com/multimedia/interactives/2015/04/what-the-heck-is-a-startup-factory.html
  3. http://tomtunguz.com/fastest-growing-areas-investment-2015/