Startups2022. The problem is too Polish approach to business
On the market, like in Poland, we still haven’t got unicorns. Why?
The definition of unicorn is unacceptable. Some of the experts behind such a bank, for example E-shoes, Allegro or InPost. Comparing Poland to the countries of Central and Eastern Europe, we are a leader in this field. Our VC market is becoming more and more mature, breaking records in both the number of investments and their value. However, in comparison with Great Britain, Germany and the USA, we still have a lot to do.
When talking about the causes, first, you need to consider the pointer markers. The economic situation determines the shaping of the investment market, including VC, which in turn has an impact on the entire ecosystem ecosystem, including the valuation of individual parts. Among Polish investors, class V, exploitation is an activity in the field of V. The entire market is currently issued by our products in subsidies, which are sold. In more improvements, in these countries there are more institutional investors in the form of pension funds, so access to information is whether it is easier. There is also a visible trend – funds invest in startups from other countries, often only when they go beyond their origin and the market now provides that there is potential for scale. Average Polish software startup, the first million zlotys in the first round in Poland. And loans for big changes are bigger than bigger.
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What has been achieved after the bull market on this market, which has been for several years, will continue to grow, the markers will continue to increase, after the valua- tion update threshold, the number of markers will increase.
So how would he summarize 2021 on the startup market?
As another good year in which you are very booming, which is a more important effect except that public-private funds have capital to. Thanks to the main programs Bridge Alfa and PFR Starter, the Polish market has completely changed. As part of the implementation of the value, it was approx. EUR 400 million in only three quarters, in 2011, which is more than in the combined total. It appeared as it arose several times, as it will occur in the case of the ramp. However, this is the last year of the transaction, because after 2023 we will face a crash with the closing of the inflow of money to the market. Access to it will already be equal.
To survive the challenge.
The structure of investors in funds has completely changed. VC frequency. 30 investors, so collecting PLN 40 million, where 20 percent. An investment, a situation where the investor is to be private, a completely different challenge. The moment it ends now, you will need a cut now and now it will start to emerge as institutional investors outside of it. But co-investments with top international funds are also a challenge. The still statutes that come through which the launch go to the VC are commands. He escapes without recommendation of price offers.
With startup problems there is a problem with the following problems: still low frequency. VC invest in approx. 1 percent. of the analyzed companies, while many startup founders (the so-called founders) believe that an innovative idea is enough and the money will be available immediately. In order to obtain frequency, they are prepared to take action, their projects are underdeveloped, teams happen and lose to raise funds. The problem is also too Polish approach to business.
What does it mean?
The founders will think that they will achieve success first on the domestic market, and only then are the others starting to be successful. The problem is that few VCs want to look for a solution available on one market, because it is too shallow, speaking of a good return.
It is said that in Poland they have no problems with money problems, problems with the future, troubles, troubles. Financing advanced projects is a real big problem?
We have good access to pre-seed and seeds and seed acquired in the seed stages, where the project is made for the MVP or the tests presented and the product market matches the first person. Acquiring –PLN 2 million with the best performance 1. The problem arises, however, with continuing investments, as there is an equity gap in Poland at the level of PLN 2–5 million. It is easier for the sex of PLN 5–7 million, having an already developed level, than PLN 2 million for early seeds, where it should most often be for the second round of financing. The ten items that cost a business to be used to access the web, which have been found to be various forms of bridging financing in the form of an enhancement site, or trying to force equity crowdfunding to obtain sourcing, have been below the first-time validation. It is for the investors I am attracting a lot.
What industries and innovations reigned supreme in 2021?
It is hard to talk about specific specifics because the market is diversified. Software companies are very successful. In this new group, fintechs and sectors with the network extension understood as 3.0, i.e. the approach to a decentralized network package, attract the attention of investors. One should mention here blockchain, cryptocurrencies and NFT, which revolutionized the intangible tool on a point scale. It is worth knowing about those solutions that support the post-pandemic, digitization of existing global solutions, which can be seen, among others, in managing managed work, and even in foodtech. This trend will continue for a long time to come.
Not just to see what will be at the center of the VC’s interest?
The time cycle is longer than a year. Years pass from the implementation of the technology to the breakthrough. For this reason, there will be no abrupt changes in the conditions of 2021, and even more operations related to the change of sectors.