Do we need to move to silicon valley for a successful fundraising joseph wei
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Joseph Wei is a venture partner at Skychee Ventures who has mentored and advised startups. He discusses four key reasons why startups come to San Francisco and Silicon Valley: 1) access to venture capital funding, 2) access to talent from top universities, 3) acceptance of startup failures, and 4) opportunities to learn from other tech companies. He notes the region's entrepreneur-friendly culture, diversity, and wealth of technical and business expertise that have made it a global center for technology and innovation.
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Do we need to move to silicon valley for a successful fundraising joseph wei
- 1. Joseph Wei, Venture Partner www.skychee.ventures
- 2. Speaker’s Background 1996 - 2009 Joseph Wei 1987 - 1996
- 3. Ventures/Accelerator Experience (2014 – present) Mentor Board member/ advisorPartner
- 4. Why Startups around the globe come to San Francisco/Silicon Valley? Reason 1
- 9. Why Startups around the globe come to San Francisco/Silicon Valley? Reason 2
- 11. Why Startups around the globe come to San Francisco/Silicon Valley? Reason 3
- 13. Why Startups around the globe come to San Francisco/Silicon Valley? Reason 4
- 14. • Diversity of people • Friendly/Sharing Culture • New Business Models/Disruptive ideas • Startup failures are acceptable norms • Talents – from universities/relocation from other states • Reinvesting the wealth • Entrepreneurship-friendly government • Great climate Uniqueness of Silicon Valley
- 15. Where is Silicon Valley?
- 16. • Silicon Valley is not really a Valley • Bay area includes 8 million people in San Francisco, Silicon Valley & East Bay • Critical mass in – Entrepreneurial culture – Venture Capital firms – Large base of tech companies – University graduates – Global Talent magnet
- 17. Moving to San Francisco ?
- 18. Considerations
- 21. • Avoid summer and winter holidays, many VCs take vacations Timing of your visit to the Bay area
- 22. Which team members to move? CEO
- 24. Move to SF ONLY for the right reasons
- 25. • Visit the Bay area before starting your fundraising tour or launching your US operations. Time your visit to co-inside with a major conference. e.g. Techcrunch … • Network with other founders from your country who have raised funding and launched businesses in the US • Network with your country entrepreneur support groups in the Bay area if available • Build sufficient customer traction in your own country or region • Establish a US entity, ideally in Delaware if you want to raise funding from US VCs • Check out related videos on YouTube, Coursera, Udemy … • Ensure you have sufficient funding to accomplish goals to be in the Bay area before deciding to move Final Thoughts
- 26. Apply to Bay Area Accelerators
- 27. Videos from the founder of Vivino (Denmark) https://www.youtube.com/watch?v=1gV19njWSJs https://www.youtube.com/watch?v=z_JxhnvCoOQ
- 29. Welcome to San Francisco/ Silicon Valley Email and let me know how I can help: [email protected] @josephwei