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  • Philip Ammerman

Navigator supports young innovative companies in Cyprus

Navigator Consulting, an sister company of the Centre for Innovation & Entrepreneurship, supported young innovative companies from Cyprus scaling up in the European market.

Navigator provided a one-day training session and coaching services for selected start-ups within the framework of a wider project managed by the Research Foundation of Cyprus and the Cyprus Chamber of Commerce & Industry.

The objective of the training was to understand common industry practice for (a) attracting external financing of start-ups and (b) modelling and preparing for growth. These two issues are closely related, as investors want to understand how a start-up will evolve and what chances of success exist for a return on investment.

Taught by Philip Ammerman, the training curriculum included:

1. Financing Options and Methods for Start-ups and Scale-ups

  • Understanding the growth cycle: pre-launch; pre-revenue; growth

  • Review of different investor types: FFF; angels; VC; PE; banks; EU funding; IPOs

  • Investment criteria and expectations by investor type

2. Business Planning and Financial Modelling

  • Developing a dynamic financial and operating model

  • Assumptions; Workings; Profit/Loss; Capital Expenditure; Valuation Models

  • Sales and revenue modelling; sales funnel optimization; non-revenue growth

  • Expenditure modelling

  • Capital expenditure and use of funds by start-ups

  • Profit/loss model

  • Key financial indicators, including NPV, IRR, start-up valuation

  • Key operating indicators, including cash burn rate, runway, customer acquisition costs, active users, churn, etc.

3. Pitching and Term Sheets

  • Know what to ask for: Use of funds; Fund release and disbursement mechanisms

  • Preparing for and implementing investor due diligence

  • Structuring a term sheet: common investors requests and terms

  • Pre- and post-money valuation

  • Dealing with equity dilution in the first and subsequent funding rounds

  • Structuring a board of directors and start-up governance post-investment

4. Achieving Product Market Fit

  • Development and launch cycles

  • Customer feedback: UX / UI / CEM

  • Service delivery and fulfilment issues

  • Achieving customer share, customer engagement, segment/market share

  • Pricing models and methods

5. Scaling up and Growth

  • Selling methods and contracting, focusing on B2B and B2C

  • Growth hacking and online growth methods

  • Users and user management

  • Revenue and conversion models

  • Sales funnel optimisation

  • Marketing, Selling & Public Relations

  • Scaling up: Engineering, Orga, Customer Service, Contracting, Staffing

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