EntrepreneurCountry Global Value Proposition
Reinventing Industries by Building Digital P&L’s and Becoming Ecosystem Economics Firms
The market for innovation in Europe is weak, under attack and declining: 1. European Venture Capital as an asset class has performed badly
2. Leading entrepreneurs try to avoid funding in Europe or go to Silicon Valley to find financial partners who will think as big as they do.
3. The acquirers and stock exchanges are mostly in the US.
4. GDP growth in Europe compared to the US is meagre. Growing by 0.4% in late 2014 and early 2015, Europe’s GDP increased in the 2nd quarter by 0.3%. On an annualised basis that’s 1.3%, lagging well behind America’s 3.7%.
5. The US technology platform companies (Apple, Facebook, Amazon, Google, Uber, and AirBnB) are entering every industry and disrupting them while taking them over.
6. A model of success is not commonly understood so a general lack of belief that Europe can win is pervasive.
Many in Europe believe that the answer is in Palo Alto, and that Europe’s role is to be in service to the US, selling its best companies to them.
Ariadne Capital is virtually alone in having a belief that Europe can win big, that there is a system-level design to the solution. The EU through funding programmes (Horizon 2020) to the European Investment Fund (who back first time funds in Europe) subsidises a market failure which further sinks Europe into a second class American citizen status.
What is needed is what Ariadne Capital, the investment platform, and EntrepreneurCountry Global, owned by Ariadne Capital, a marketspace for building ecosystems, has:
• A decade-long investment and operational plan and intent to build ecosystems in Europe
• A solution to the problem of Creative Destruction which is not reliant on huge amounts of capital, bravado marketing and buying low and selling high.
• A methodology that European enterprises can use to reinvent their industries.
• A European model of success in the digital age which empowers individuals with a new asset class: their data, turning every EU citizen and resident into a data entrepreneur.
The EntrepreneurCountry Team
EntrepreneurCountry Global’s founder, Julie Meyer, has a unique set of business credentials, experience and company-building track-record: • INSEAD educated and sits on their Board of Directors and Finance & Administration Committee; INSEAD named Julie one of their top 50 alumni in 2011.
• Founder of First Tuesday which many believe ignited the internet generation in 1998, building a first generation cohesive internet market across Europe
• World Economic Forum Global Leader for Tomorrow 2001
• She pioneered the ‘Entrepreneurs Backing Entrepreneurs’ model for the financing of entrepreneurship in Europe in 2000; Ariadne Capital was the first investment firm and institution to have leading entrepreneurs as shareholders, thereby creating a virtuous circle of successful entrepreneurs backing the next generation of emerging entrepreneurs.
• She has led £350 m of transactions across Europe into technology start-ups since 2000. She has backed 7 explosive growth companies since 2000 including Skype, Zopa, Espotting, Monitise, SpinVox, BeatThatQuote and SoundOut.
• She has keynoted and spoken to the Board rooms of leading European firms on strategy, innovation, digital transformation and entrepreneurship. She wrote Welcome to EntrepreneurCountry which was published by Little Brown in 2012, and is the inventor of Ecosystem Economics.
• With German grandparents, an MBE from the Queen of England, 7 years residency in France, and 18 years in the UK, she is a European in spirit.
EntrepreneurCountry Global’s Executive Team:
She is joined by a strong team of advisors, executives and active shareholders who have helped to influence Ariadne’s strategy, most notably: • Amit Pau – since 2012, Managing Director, EntrepreneurCountry and ex Group MD of Vodafone, main Board Director Vodafone Spain, AT&T, early investor in ASOS
• Jayesh Kotecha – Business Development Manager, ex Technical Architect at Capita. Over 17 years of experience working in the EdTech sector, helping educational establishments to transform teaching and learning through innovative technology solutions.
• Jimmy Nguyen – Partner, David Wright Tremaine, and Senior Advisor to EntrepreneurCountry Global
• Kevin Telford – Senior Advisor and Venture Partner, global expert in consumer data; Kevin has unique insight into the data landscape
• Prof. Maurice Biriotti, the CEO and Co-Founder of SHM Productions – Senior Advisor to EntrepreneurCountry Global,; a leading academic in the fields of NeuroScience and Behavioural Science. He advises leading enterprises on management and strategy. Maurice speaks fluent French, Italian and Spanish.
• Ryan Coyne – Business Development Director, previously with Enterprise Ireland where he built significant value for enterprises over 6 years
• Simon Bradley – Business Development Manager
• Travis Baxter – Senior Advisor to EntrepreneurCountry Global; ex MD of Bauer Radio; Advisor to the Bauer family; Operating Partner, Advent International (5 years);
The Targeted Ecosystems
EntrepreneurCountry Global will focus on industries which are being transformed into ecosystems by virtue of the user-centric opportunities.
The EntrepreneurCountry Proposition
EntrepreneurCountry enables firms to become Ecosystem Economics companies that is to adopt the design of how to win in the digital age.
There are 3 basic tenets which lead to a firm understanding how to become an Ecosystem Economics firm:
• First of all, they need to understand that industries have shifted to be organised around platforms. These platforms are organising the economics of the ecosystems in which they operate. In order for a Goliath to win, they need to move from being a company with distribution which is selling product to a platform with understood customer segments where revenue exchange for value accrues per users. Life time value of users and the cost of customer acquisition become the key KPI’s.
• Secondly, they need to understand how to engage upwards with the Application Economy which is at the core of being a platform. This means that in the choice of how Goliaths engage with David’s – invest, partner, or acquire – that the first step towards creating value is actually to build a Digital P&L rather than to touch the balance sheet through investment or acquisition.
• Thirdly, they must recognise that they as Goliaths won’t beat David. Entrepreneurs have the consumer insights which unlock the future of industries through the products and services that they create. EntrepreneurCountry has not found examples of where non-technology traditional businesses have been ahead of the market in turning consumer insight into a market-leading product. Entrepreneurs have a big problem in terms of how to get to market: customer acquisition. They are ‘cars’ in search of a ‘highway’.
EntrepreneurCountry understands that for large industries to become ecosystems and for the leading firms in the traditional industries to become leaders in the future ecosystems, they have to understand the Unit Economics of the transaction and how consumer behaviour is changing the business model which is changing the industry.
1. The ‘Welcome to EntrepreneurCountry’ Workshop
This day long workshop gives you a ‘new pair of glasses’ to take out a ‘cleansheet of paper’ and consider what the future of your business is. The idea behind this workshop is that you know how best to break into your own house – that is be disrupted. You also have the best ‘guesses’ about the future of your business. EntrepreneurCountry brings the market, i.e. the Digital Enablers, and all of the academic and case study influences to inform the outcome of the brainstorming.
• Introduce Ecosystem Economics which explains how to win in a world of Creative Destruction
• Review case studies of how Goliaths have fought back and are winning
• Engage with relevant entrepreneurs who will present how they intend to reinvent your industry
• Develop four hypotheses about the future of your business which can then be developed into four test pilots
2. Test Pilots
EntrepreneurCountry Global and your business will test pilot one hypothesis about the future of your business. We will agree the following:
• If the goal is digital revenues, lean infrastructure or another objective
• What is the level of materiality
• What access to EntrepreneurCountry Global’s early adopter community is required
• What time period is relevant
EntrepreneurCountry Global will source relevant ‘Digital Enablers’ and a target early adopter community in order to project manage the Test Pilot.
We will work with you and your management to understand the results, interpret the opportunity and to make the final Go/No Go Decision on building the Test Pilots into new ventures.