Event summary – Gadi Mazor, General Partner & CTO, OurCrowd
“As an entrepreneur, It is so difficult to get advice’s from people whom you just met, that tell you how you should do your business”, says Gadi Mazor. Although people from the outside may have good insights for you, it is almost inevitable for these kind of advices from people were not in the business, to be perceived by the entrepreneur as vain, arrogant and completely irrelevant. He described the best advice that he ever got, back at the time from Andy Grove, who is one of the cofounders of Intel and its chairman. Andy, who told him the story about how Intel came about from manufacturing memory chips to be the company that it is, aroused his attitude towards how to be able to get advices and think like the new CEO. “Suppose they kick us out and bring in CEO, what would he do?” Is what he recommends for entrepreneurs to use as an attitude and mindset in order to get out of the point where their stuck, even if they don’t think so. As Gadi a mentioned, entrepreneurs can really sell themselves an idea as well as others!
Gadi shared on his interview his experience which he described “the good the bad and the ugly” about raising money – A lot of entrepreneurs think that they should go to VC and raise money from them first, yet you should know about the VC model, warns Gadi. A VC firm is structured in a way that an investment is good only if the company they invest in would make an exponential profit. There are other ways for companies to come about. For example the company could be profitable overtime and make money but if it’s not exponential you may encounter difficulties with the VC that for them it is not worth it, and may even get shut down. There are different kinds of money. For example, angel investors are completely comfortable with dividend. It means that if you plan to build a profitable company but not necessarily exponential with a huge exit, you may want to have angel investors in your company. Nowadays, OurCrowd is the most active VC firm in Israel and invest in 1 startup a week in average (!). It is structured as a VC firm, nevertheless, since that money comes from Angels and allows them to also invest in companies that are “just” built to be profitable.
Interview with Gadi Mazor (Our Crowd)
Also in the event, wondr.me, who won the popularity of the crowd in the last event, had absolutely nailed their demo in front of our audience.
The 3 companies that had presented on this event were Cardiz, Spotgam.es and Wibki. Congratulations to Cardiz on your win, good luck on your demo next time!
Looking forward seeing y’all in our very special May event, where we would host Dr. Orna Berry, as part of a worldwide women empowerment month!
Startup Grind Tel Aviv
Time & Location
Mar 26, 2014 · 18:00
Homa Umigdal 29, Tel Aviv, Israel