Expara CVC Masterclass

Expara CVC Masterclass - Live

Venture capital is hard. Corporate venture capital is harder.

Who will benefit from this course?

Learn

Companies who do not yet have a CVC program but are interested to learn more about this fast-growing sector and see how to start
Launch

Companies who are getting ready to launch or have just launched their CVC programs and want to maximize their chances of success
Leverage

Companies who already have a CVC program in place and would like to maximize their returns and optimize their operations

What will I learn in this course?

Learn CVC with a VC

Corporate venture capital (CVC) is fast becoming a must-have, not just for technology companies but for any large company. A new wave of disruption is sweeping across industries. Venture funded start-ups like Uber and Airbnb appear to come out of nowhere to threaten traditional players in the transportation and hospitality sectors. The rapidly falling cost of creating and distributing game-changing products and services creates both serious threats and huge opportunities for established players. If large companies are not deeply integrated into the start-up and venture capital enterprise ecosystem, how will they successfully innovate and compete in this fast-changing environment? In the US, 50% of Fortune 50 and 33% of Fortune 500 companies already have a CVC program. Corporates in SEA are starting to realize the benefits of CVC, both as offensive and defensive competitive weapons. But starting and successfully executing a CVC program is not easy; the median lifespan of CVC programs has been around one year, while generating returns from venture capital typically requires 5-10 years. Corporates entering CVC face two main challenges: 1) understanding the fundamental venture capital process and 2) adapting this process to benefit the corporation. Expara’s Corporate Venture Capital workshops will enable corporates to do both: gain a solid understanding of venture capital and learn how to develop and execute a CVC strategy while avoiding the pitfalls that have caused so many CVC programs to fail.

What will I get from this course?

Participants will evaluate investments in new ventures, create a forecasted financial plan and valuation for an early-stage business venture, engage in simulated negotiations between entrepreneurs and investors and will learn how to structure venture deals. Our hands-on approach enables participants to immerse themselves in a simulated venture capital investment context. Participants will gain practical experience in applying the knowledge acquired and further develop key skills and strategies for success. Participants will be able to evaluate the attractiveness of a start-up business/financial plan as an investment proposition as well as understand the impact of the investment deal terms on both the entrepreneur and investor. CVC is covered both on its own, in the CVC modules and throughout the other modules, as whenever there are differences between CVC and financial venture capital in the application of basic venture capital approaches, these are highlighted and discussed.

6 hours of live interactive sessions with Expara CEO Douglas Abrams
89 videos - 16 hours of viewing and 65 original articles for reading
Video presentations and slide decks of real start-ups
4 interactive case-studies with detailed feedback
Access to Expara's network of more than 2,000 venture investors
Pro-forma Valuation Excel Model for start-ups
Business plan checklist for evaluating start-ups
Term sheet template for venture deals
Expara Academy Certificate of Course Completion

Course curriculum

1. A message from the instructor
2. About the instructor
3. Connecting to my network
4. READ FIRST: How to complete the course
5. Submissions, assignments and downloads
6. About Expara
7. Reading list for investors
1. What is the relationship between risk and return?
2. Risk and return
3. Why fear risk?
4. Risk and return - Small versus scalable business
5. Reading: Risk and return
6. Reading - Two types of entrepreneurs
7. Reading - Fear and failure
1. Welcome to venture capital world
1. Highest returning asset class
2. VC is the highest returning asset class
3. VC improves portfolio diversification
4. Reading - Why do investors invest in VC funds?
5. Reading - Top VC fund managers can consistently outperform
1. Why VC now
2. Why venture capital now
3. Reading - Is moores law over?
4. Reading - Amaras law
1. Scalable or lifestyle business?
2. Why should startups raise investment
3. Reading - Why do start-ups raise money?
1. How to fund growth?
2. Which form of funding is best?
3. How to fund growth
4. Reading - What is the best form of funding for a start up
5. Reading - What is the difference between debt and equity?
6. Reading - Only a moron starts a business with a loan
1. This could be you
2. This could be you
1. Success from failure
2. Success from failure
3. Reading - Success from failure
4. Reading - What percentage of start-ups really fail?
5. Reading - Why do so many start-ups fail?
6. Reading - Why is it good that so many start-ups fail
7. Reading - Do difficult things
1. What kind of companies do VCs invest in?
2. How do VCs make money?
1. Why CVC and why now
2. Why CVC and why now
1. Keys to successful CVC strategy
2. Strategic considerations
3. Investment strategy
4. Structural issues - fund
5. Strategic vs financial returns
6. CVC strategy
1. Setting prioritized goals for your CVC
2. Innovation goals
3. Competitive goals
4. Financial goals
5. Internal goals
6. CVC goals
1. CVC is harder
2. How are CVC different from financial VCs?
3. Negative perception of CVC
4. Divergence of interests.pdf
5. Adverse selection
6. Big corporate vs small start-up
7. The best VC funds may not want CVC LPs
8. Aligning team interests
9. Challenges in CVC
10. CVCs are the Devil - Fred Wilson
1. Structures for CVC
2. Join existing ecosystems; don't create your own
3. Begin with FOF vs direct VC investment
4. CVCs bring strengths to the table
5. Approaches to CVC
6. Adding unique value to start-ups
7. CVC approahces - Adding value for startups
1. Best practices - investment criteria
2. Best practices investment strategy
3. Best practices -portfolio management
4. Best practices -investment process
5. Best practices -deal terms
6. Best practices -staffing and team
7. Best practices -compensation
8. Best practices team
9. Key recommendations
10. CVC best practices - Key recommendations
1. Case Study I – Corporate Venture Capital
2. Case study: Saudi Aramco and Corporate Venture Capital
1. Which one is more scalable- product or service?
2. What sectors do VCs invest?
3. What kind of companies generate high returns?
4. Reading - What is the optimal time to enter a market?
5. Reading - What do VCs invest in?
6. Reading - Which scales better?
7. Reading - Good business vs good investment
1. The investor’s decision tree
2. The investor’s decision tree
3. Key elements for success
4. Key elements for success
5. Reading - Product market fit or team
6. Reading - Three most important factors
7. Reading - Key elements of success
8. Download: Business plan outline and checklist
1. Communicating with investors
2. Investor and start up communication
3. Reading - How to connect with investors
1. Defining innovation
2. Innovation and value proposition questions to ask
3. Why invest in innovators
4. Reading - Innovation and value proposition
5. Reading - Innovators, imitators and idiots
6. Reading - Is Grab an innovator or an imitator?
7. Reading - Pain and demand (How does pain drive demand)
8. Innovation and value proposition questions to ask
1. Choose a market favourable to start ups
2. Market life cycles and structures
1. Market identification and analysis
2. Determining who your customers are
1. Sizing the market
2. Top-down and bottom-up market sizing
3. Reading - Sizing the market for a start-up
4. Market identification and analysis questions to ask
1. CLV vs CAC
2. Market positioning
3. 4 Ps
4. Reading - What are unit economics?
5. Product differentiation
6. Marketing strategy questions to ask
1. Sustainable competitive advantage
2. Competing with large companies
3. How startups beat established companies?
4. Sustainable Competitive Advantage (Market Leaders, Dinosaurs, and Small Mammals)
5. Sustainable competitive advantage questions to ask
6. Creating last mover advantage
7. Reading - Why are you using Whatsapp?
8. Reading - Why are there only two ride sharing companies in each market?
9. Reading - First mover disadvantage last mover advantage
10. Reading - Market leaders dinosaurs small mammals and asteroids
1. Strategies to create advantage
2. First mover advantage & last mover advantage
3. Reading - SCA case study: who was the first mover in personal computers
1. IP strategy
2. IP strategy
3. Reading - Is it possible for someone to steal your start-up idea?
4. Reading - What are the elements of an IP strategy for start-ups?
1. Case Study II – Opportunity identification
2. List of presenting start-ups
3. Advantir pitch
4. Anrich3D Pitch
5. EcoWorth Tech pitch
6. Globish Pitch
7. Let's Plant Meat Pitch
8. Lumani Pitch
9. Perception pitch
10. Portier Technology Pitch
11. Sharent Pitch
12. System Stone pitch
13. Voxy Pitch
14. Advantir Pitch Deck
15. Anrich 3D Pitch Deck
16. EcoWorth Tech Pitch Deck
17. Globish Pitch Deck
18. Let's Plant Meet Pitch Deck
19. Lumani Pitch Deck
20. Perception Pitch Deck
21. Portier Pitch Deck
22. Sharent Pich Deck
23. System Stone Pitch Deck
24. Voxy Pitch Deck
1. In the financial section of the business plan
2. Why do we need a financial plan?
3. Financial projections - financial section of the business plan (2)
4. Valuation - financial section of the business plan (3)
1. Business Model - The financial section of the business plan (1)
2. Key revenue model issues
3. Business model - how will you make money?
4. Reading - What is a business model?
1. Business model innovations
2. Business model innovation
3. Reading - What is the Gillette business model
4. Reading - Disruptive business models
1. Case Study III – Business model
2. Case study: Zipcar: refining the business model
1. Create financial projections
2. Download: Financial projection and valuation model
3. Why forecast 5 years?
4. Starting with revenue forecast
5. Top-down market sizing example - Plant-based meat
6. Top-down market sizing example - Sesame milk
7. Bottom up market sizing
8. Introduction to Revenue forecast in Excel
9. Why is the top-down forecast different from bottom-up forecast?
10. Mistakes startup CEOs make
11. Reading - Why will financial forecasts always be wrong?
12. Financial model explained 1
13. Financial model explained 2
14. Financial model explained 3
15. Balance sheet
16. Income statement 1
17. Income statements 2
18. Cash flow budget
19. DCF valuation model
20. Financials and DCF Valuation
21. Weighted average cost of capital
22. Valuation in financial modelling
23. Dilution schedule and investor ROI
24. Reading - Why are there so many unprofitable startups?
25. Reading - How is a model different from reality
1. Why do most valuation methods fail for start-ups?
2. Why do most valuation methods fail for start-ups?
3. Reading - Why do traditional valuation methods fail?
4. Company valuation methods
5. Comparables
6. Methods of valuation - comparables
7. Discounted cash flow valuation
8. Methods of valuation - discounted cash flow
9. VC method
10. Methods of valuation - VC method
11. VC method valuation explained
12. Where do the numbers in VC method valuation come from?
13. Reading - What drives VC fund returns
14. Key valuation issues
15. Reading - Epidemic of overvaluation
16. Reading - Why don't startups pay dividends?
17. Reading - What is cost of capital and why is it important?
1. Exit strategy and ROI
2. ROI and dilution
3. Calculate investor's ROI including dilution
4. Exit strategy and ROI
5. Reading - How do VCs make money
1. Case Study IV – Business model
1. VC investment process
2. Capital and legal structure of the firm
3. Equity issued to whom
4. Key legal agreements
5. Why is the multistep fundraising process so important?
6. The fundraising journey of startups
7. Reading - VC funding process enables innovation
8. Reading - Angel or VC or CVC which is best
9. Reading - Who are venture investors?
10. Reading - What is FF and F?
11. Reading - What is OM and how much of it do you need?
12. Reading - The best and worst times to raise money
13. Capital and legal structure of a firm
14. 5 key agreements in venture capital deals
15. Reading - Key agreements in VC investment
16. Reading - Why not give up the minimum equity
1. Economic terms in term sheets: Part I
2. Economic terms in term sheets: Part II
3. Control terms in term sheets
4. An example of how liquidation preference works
5. What is founder vesting
6. What does a clean cap table look like
7. Convertible debt vs equity
8. Safe notes
9. Key elements of the deal
10. Reading - Key terms in VC term sheets
11. Reading - Liquidation preference as valuation insurance
12. Cap tables
13. Reading: The 7 deadly sins of messy cap tables
14. Reading - What is founder vesting?
15. Download: Term sheet template and term sheet alternatives
16. Reading: How do VCs control startups after investment
17. Reading: Corporate structuring issues for VC investors
18. Reading: What forms of funding are used by VCs
19. Reading: What are convertible and SAFE notes and should we use them
20. Reading: Reserve matters and protective provisions
21. Reading: Retaining BOD control
22. Reading: What are reps and warranties
23. Reading: What is a drag-along clause
24. Reading: MFN and Pay to Play
25. Reading: What is redemption
26. Reading: What is anti-dilution protection
27. Reading: What are ROFRs and ROFOs and when are they bad
1. VC-start-up negotiations
2. VC startup negotiations
3. VC - startup negotiation game briefing

About this course

$5,800.00
276 lessons
17.5 hours of video content

Learn

Launch

Leverage

Welcome to the course!

Understanding Risk and Return

Welcome to venture capital world

Why do investors invest in VC?

Why VC now?

Why do start-ups raise investment

How do start-ups fund growth

High returns to VC investors

Success from failure

How do VCs make money?

Why CVC?

CVC Strategy

CVC goals

Challenges of CVC

CVC approaches

CVC best practices

Case study: Corporate venture capital

Evaluating investments - which companies generate high returns?

How do VCs evaluate start-ups?

Investor and start up communication

Assessing product market fit

Identifying favorable markets

Market identification and analysis

Sizing the market

Marketing strategy

Sustainable competitive advantage

Strategies to create advantage

IP strategy

Case study: Opportunity identification

Evaluating the financial plan

Understanding the business model

Disruptive Business models

Case study III - Business model

Financial models and projections

Valuation

Exit strategy and ROI

Case Study IV: Forecasting and valuation

Investment process

Key deal terms and term sheets

VC-Start-up negotiations

About this course