Funding your startup via early adopters and loyal customers might sound like an obvious strategy, however it seems to be missed by many founders as they expend too much time chasing the illusive investment angels and VC’s.
Two successful companies, Concerotel, and TruTeq have bootstrapped their businesses and continue to operate successfully using a self-funding business model. In an interactive workshop facilitated by Mark Paddenburg, IC CEO – Mark Sprey, Founder of Concerotel and Tjaart van der Walt, Founder of TruTeq will share their journey drawing on experiences and providing tips on the following topics:
What are the advantages of Self-funded businesses?
What is required to self-fund?
Bootstrapped companies securing traction and revenue will more easily raise capital – which is generally deployed to scale the business model rather than develop an idea. The best conditions to raise funds is when you’re investment ready and not ready for investment!
Mark Sprey has over 25 years of experience in the telecommunications industry and has received international recognition in developing satellite telecommunications products and services. He is currently a Director of ConceroTel, a company that specialises in satellite, wireless, VoIP telephony and mobile solutions in emerging regions. ConceroTel now has offices in Australia, Botswana and Zambia.
Mark has a strong background in research and commercialisation, having previously worked at DSTO and the CSIRO ICT Centre. In 2000, Mark led the CSIRO project team in the development and successful integration of three MultiBeam antennas at SES-Astra in Luxembourg, each antenna being able to transmit and receive to multiple satellites simultaneously. This project has been recognised globally with awards including the 2004 SSPI Innovation Award (USA), 2003 Australian Technology Showcase Award and the Institute of Engineers Australia, Engineering Excellence Awards 2001.
Mark’s core commercial strengths are in developing product strategies and partnerships to bring new applications into the telecommunications industry. This practical experience is backed by Engineering and MBA degrees.
Tjaart van der Walt completed his B Eng (Electrical) and M Eng at North-West University, Potchefstroom in 1993. Thereafter he lectured Physics, Communications Systems and Theory of Signals at the university whilst completing a Master’s degree in Electronics. During this time, Tjaart was also involved in other projects at the University such as building components for a Gamma ray telescope and radio tracking devices for animals.
He started working as a design engineer in 1996 and over the next 5 years designed a number of GSM-based terminals such as vehicle tracking and M2M telemetry devices. Tjaart also developed positioning algorithms to position a phone on a mobile network that became the world’s first commercial GSM location system based.
In 2001 he completed his MBA at Bond University and was appointed as Vice President of Unwire AB, a Swedish company, but after the terrorist attacks on 9-11, the market crashed and Tjaart and four other colleagues started up TruTeq in South Africa.
The technology developed by TruTeq is used by mobile networks for value added services and billing and by Banks for security and mobile banking. It is deployed in 18 mobile networks in 13 countries and used by 5 banks in 7 countries covering more than 100 million subscribers in total.
TruTeq has offices in Pretoria and Sunshine Coast.
Mark Paddenburg has a demonstrated track record in creating value by connecting ideas, people and capital. His focus is on entrepreneurship, business development and improving innovation capability for startup and high growth companies.
Mark was appointed CEO of the Innovation Centre in 2012 and in previous roles he cofounded two companies and assisted a range startup ventures including Dascom (now owned by IBM), Quickbeds.com (now owned by Flight Centre), Firewire, Tracknology, BridgeClimb Australia TradeCoast and the first OurBrisbane city portal. Mark is a graduate member of the Australian Institute of Company Directors, a member of the Sunshine Coast Business Council and was President of the Brisbane Junior Chamber of Commerce in 1995. Mark has completed a Bachelor of Commerce Degree at Griffith University and Graduate Certificate in Management at the University of Queensland.
Book early as seats are limited. Cost of $25 per ticket (non-members) which include light refreshments. Booking is essential.
Boardroom Briefing Elevate Series #6: Self Funded Growth by Mark Sprey, Tjaart van der Walt and Mark Paddenburg
4:00pm - 5:00pm
October 12 2016
Innovation Centre, Sippy Downs
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