15th Anniversary Sophia Business Angels & France Angels Tour - Avec nos partenaires
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TABLE OF CONTENTS/ TABLE DES MATIÈRES Sophia Business Angels@15........................................................................................................... 3 SBA Venture academy .................................................................................................................... 7 SBA Start Up Factory ..................................................................................................................... 8 SBA Start Up Invest ........................................................................................................................ 9 SBA ISF Holdings/SBA Fonds ISF .............................................................................................. 10 Sophia Business Angels @ PACA, FRANCE, EUROPE .............................................................. 11 SBA Eco-System/SBA Eco-Système............................................................................................ 12 SBA Family of Entrepreneurs/SBA famille d’entrepreneurs .....................................................13 Testimonials from SBA Presidents/Témoignages de présidents SBA ......................................15 Testimonials from SBA Members/Témoignages de membres SBA ......................................... 22 Testimonials from SBA Partners/Témoignages de partnaires SBA ........................................ 25 Testimonials from entrepreneurs/Témoignages d’entrepreneurs ........................................... 28 Sophia Business Angels in Numbers and Names/Les noms et les chiffres derriere Sophia Business Angels .............................................................................................................................31 Appendix/Appendice.................................................................................................................... 32 Sophia Business Angels and SKEMA Business School bring their International Venture Academy to the accelerator, Le Village by CAAP, located at thecamp in Aix-En-Provence, France, reinforcing early stage co-investing and the ecosystem across the entire Sud- Provence-Alpes-Côte d’Azur region......................................................................................... 32 Le Club Sophia Business Angel (SBA), créateur de l’International Venture Academy, soutenu par SKEMA Business School, a présenté une nouvelle édition le 26 octobre 2018 à « The Camp », le nouvel accélérateur d’Aix-en-Provence avec « Le Village » du Crédit Agricole, renforçant ainsi l’écosystème de co-investissement des jeunes start-ups de la région PACA. ............................................................................................................................ 34 15th Anniversary Sophia Business Angels & France Angels Tour Programme .................... 36
SOPHIA BUSINESS ANGELS@15 CELEBRATING 15 YEARS OF SOPHIA BUSINESS ANGELS MENTORING, COACHING, SUPPORTING AND INVESTING IN THE NEXT GENERATION OF INNOVATORS AND ENTREPRENEURS 15 years ago, well really 16 years ago, Senator Pierre Laffitte, the Father of Sophia Antipolis who initiated and inspired so many revolutionary ecosystems and cultures from which we all benefit today, came to a certain number of “Sophipolitains” and said, “We need to create a Business Angels Club”! And, so we did! We started out with 14 members and grew from these over the years to a regular membership of between 30 and 50 members from more than 20 nationalities, reflecting the very international nature of Sophia Antipolis. Throughout the years, we have raised almost 55 million Euros to invest in more than 100 companies through our various investing instruments and we have done this locally, regionally, nationally and internationally, reflecting our international member base. But, Business Angels are not only about money. Far from it! What they are really about is “Knowledge Transfer” — transferring experience, expertise, networks and “smart money” from serial entrepreneurs and senior executives to the “next generation” of innovators and entrepreneurs. Business Angels do not stand alone, but rather are an integral part of the community, the economy, the society — an entire eco-system devoted to promoting, supporting, financing, and enabling a New Generation dedicated to making our world a better place. As such, throughout the following pages, you will see that our Eco-System encompasses relationships with local, regional, national and international governments and NGO’s, with Venture Capitalists, accelerators, incubators, business clubs, and other angel groups, many times who we helped create along our 15 years of existence in the PACA Region, in Europe, and indeed in the world. As Senator Laffitte knows, a thriving eco-system just does not magically appear! You have to grow it. You have to look out your comfortable habitat and create! You have to work diligently and seek opportunities and like-minded people and you have to create programs and traditions. In this way, Sophia Business Angels created two 3
flagship programs, The SBA International Venture Academy and the SBA Start Up Factory which have imbued not only Sophia Antipolis but the world with the innovative and entrepreneurial spirit. In 2008, the SBA rose to the challenge of the TEPA Law in France which allowed the establishment of Wealth Tax holdings to invest in innovative start-ups throughout France and Europe. Within a matter of months, SBA members came together to create Innovation Europe and Croissance Europe which was then followed in 2009 by Succès Europe, in 2010 by Avance Europe, Etoiles Europe and the SBA ISF Holding. Not only did practically each SBA member invest in these holdings, we inspired hundreds of other people to invest in innovation and entrepreneurship in Sophia Antipolis, France, and Europe. The SBA has had so many highlights in its 15 year history, but certainly one of the highlights was in 2009 when we won the “Triple Crown” of Best Angel Network, Best Individual Angel, and Best Early Stage Fund from EBAN, the European Business Angel Network. We have also been proud to participate with our colleagues in PACA Business Angels Network, France Angels, and EBAN and to have participated in the governance of these structures, many times being members of the board or presidents. Throughout the years, it was our great pleasure and honour to help a number of Business Angel Networks get started and to co-invest with a number of “Sister Angel Networks”. Three of these latter Angel Networks are the Cambridge Angels, Mumbai Angels and Galata Business Angels and you will enjoy reading their testimonials later on in this document. Every SBA Member contributes to the goals and initiatives of the club, but the President has a special responsibility which takes a lot of time but also gives a lot of satisfaction. Please take time to read the testimonies of our great presidents as well as that of our long-time Secretary General, Annie Prodhomme and Board Member emeritus, Burton Gintell. What would a club be without Managing Directors? Alix de Bressy and before her Juliana Garaizar have given their all to the SBA throughout the years and are now proud members! And yes, at the end, it is all about the entrepreneurs and innovators! We are delighted to feature some testimonies from just a few of those entrepreneurs in this document. So, have we succeeded? Well, we believe that we have definitely helped create a thriving innovation and entrepreneurial eco-system not only in Sophia Antipolis but also in PACA, France, Europe and the world. We are still waiting for our really big financial return on investment, but in the end, we really do believe that the most important thing is to create value and this we have done in spades. 4
SOPHIA BUSINESS ANGELS@15! MENTORING, COACHING, SOUTIEN ET INVESTISSEMENT DANS LA PROCHAINE GENERATION D'INNOVATEURS ET D’ENTREPRENEURS Le sénateur Pierre Laffitte, fondateur de Sophia Antipolis, qui a initié et inspiré tant d’écosystèmes et de cultures révolutionnaires dont nous bénéficions tous aujourd’hui, est venu devant un certain nombre de "Sophipolitains" en 2002 et a dit, “Il faut créer un club de Business Angels”! C’est ce que nous avons fait! Nous avons commencé avec 14 membres et avons grandi au fil des années pour atteindre 30 à 50 membres réguliers de plus de 20 nationalités, reflétant le caractère international de Sophia Antipolis. Au fil des ans, nous avons levé près de 55 millions d’euros pour investir dans plus de 100 sociétés par le biais de nos divers véhicules d’investissement et ceci aux niveaux local, régional, national et international, à l’image de nos membres internationaux. Mais les Business Angels ne sont pas qu'une affaire d'argent. Loin de là! Il s’agit en réalité de “Knowledge Transfer", c’est-à-dire de transférer son expérience, son expertise, son réseaux et “smart money" à la "prochaine génération" d’innovateurs et d’entrepreneurs. Les Business Angels ne sont pas non plus autonomes : ils font plutôt partie intégrante d’une communauté, d’une économie et d’une société - tout un écosystème voué à la promotion, au soutien, au financement et à la création d'une nouvelle génération dédiée à l'amélioration de notre monde. Ainsi, notre écosystème englobe des relations avec des gouvernements et des ONG locaux, régionaux, nationaux et internationaux; avec des sociétés de capital-risque, des accélérateurs, des incubateurs, des clubs d’entreprises et d’autres groupes de Business Angels dans la région PACA, en Europe et dans le monde que nous avons aidé a créer au-cours de nos 15 années d’existence. Comme le sénateur Laffitte le sait, un éco-système en plein essor n'apparaît pas comme par magie! Vous devez le faire pousser. Vous devez sortir de votre habitat confortable et le créer! Vous devez travailler avec diligence et rechercher des opportunités et des personnes partageant les mêmes idées, et vous devez créer des programmes et des traditions. Ainsi, Sophia Business Angels a créé deux programmes phares, la SBA International Venture Academy et la SBA Start Up Factory, qui ont 5
imprégné non seulement Sophia Antipolis, mais aussi le monde entier, d’un esprit innovateur et entrepreneurial. En 2008, la SBA a relevé le défi de la loi TEPA en France, qui autorisait la constitution de participations dans le cadre ISF de dédier une partie de ses impôts a investir dans des start-up innovantes en France et en Europe. En quelques mois, les membres de SBA ont réussi à créer Innovation Europe et Croissance Europe, suivis de Succès Europe en 2010 par Avance Europe, Etoiles Europe et le SBA ISF Holding. Presque tous les membres de SBA ont non seulement investi dans ces véhicules d’investissement, mais ont également incité des centaines de personnes à Sophia Antipolis, en France et en Europe à investir dans l'innovation et l'esprit d'entreprise. SBA a eu tant de moments forts en 15 ans d’histoire, mais l’un des faits saillants a été l’année 2009, lorsque nous avons remporté auprès d’EBAN (European Business Angels Network) le prix «Triple Crown» du meilleur réseau de Business Angels, du meilleur fonds Early Stage, et du meilleur Business Angel! Nous sommes également fiers de participer avec nos collègues aux réseaux PACA Business Angels, France Angels et EBAN, et de faire partie de la gouvernance de ces associations, souvent comme membres du conseil d’administration voir présidents. Au fil des années, notre grand plaisir et notre grand honneur ont été d'aider un certain nombre de Business Angel Networks à démarrer et à co-investir avec un certain nombre de "Sister Angel Networks". Trois de ces derniers réseaux Angel sont les Cambridge Angels, les Mumbai Angels et les Galata Business Angels et vous aurez plaisir à lire leurs témoignages dans ce document. Chaque membre de la SBA contribue aux objectifs et aux initiatives du club, mais le président a une responsabilité particulière qui prend beaucoup de temps mais donne également beaucoup de satisfaction. Prenez le temps de lire les témoignages de nos grands présidents, ainsi que ceux de notre secrétaire générale de longue date, Annie Prodhomme, et du membre du conseil d'administration “emeritus” Burton Gintell. Que serait un club sans directeurs généraux? Alix de Bressy et Juliana Garaizar ont tout donné à SBA au fil des ans et en sont maintenant des membres fiers! Et oui, à la fin, tout est question d’entrepreneurs et d’innovateurs! Nous sommes ravis de vous présenter quelques témoignages de quelques-uns de ces entrepreneurs dans ce document. Alors, avons-nous réussi? Eh bien, nous pensons que nous avons définitivement contribué à créer un écosystème d’innovation et d’entrepreneuriat florissant non seulement à Sophia Antipolis mais également en PACA, en France, en Europe et dans le monde. C’est vrai que nous attendons toujours notre très gros retour sur un investissement financier, mais au final, nous pensons que le plus important est de créer de la valeur et cela nous avons fait de manière convaincante. 6
SBA VENTURE ACADEMY The SBA International Venture Academy: In 2008, a number of SBA Members came to realise that we needed to institutionalise and professionalize the mentoring and coaching that certainly was being conducted, but in a rather ad-hoc way. Together, Michel Bernasconi, Karen Thomas, Alan Barrell, Michael Rogosin, Burton Gintell, and Annie Prodhomme came up with the format for a “Coaching Day for Almost Investment Ready Entrepreneurs”. This format included formal “Sign- Posting”, “Feedback Forms”, “Investment Criteria”, “Judging Criteria”, “Business Model and Pitching Criteria”, “Inspirational Keynote Addresses for both Entrepreneurs and Angel Investors”, and at the end of the day, an “Academic Evaluation” by a noted Professor of Entrepreneurship, who at the time was none other than the President of the Entrepreneurial Academy of France, Michel Bernasconi, one of our long-time SBA Members. All of this was to be incorporated into the SBA International Venture Academy, which though only lasting “one day”, in reality created win-win relationships between entrepreneurs and coaches which have lasted over the years. It is important also to stress the word “International” in our SBA International Venture Academy. The mothers and fathers of the concept were clear that we had to help entrepreneurs and investors become “world class” entrepreneurs and to go beyond barriers of country, language and culture. As a result, the SBA International Venture Academy is a format that has been replicated around the world by the European Commission, by EBAN, by ABAN and the Middle East. 7
SBA START UP FACTORY NETWORKING Our ever popular “Start Up Factory” provides new entrepreneurs and students with either an active project or simply an idea the opportunity to network with private investors, bank executives and other experts in the Startup Ecosystem. Some startups pitch to the audience of around 150 people. These evening events take place each quarter in Sophia Antipolis, the entrepreneurial hub of the Côte d’Azur, and are conducted in French. NETWORKING Cadres, chercheurs, entrepreneurs, étudiants, porteurs d’un projet ou simplement d’une idée, investisseurs privés, investisseurs potentiels, participent à la dynamique entrepreneuriale de la Côte d’Azur, et assistent à nos soirées «Start Up Factory» pour échanger, informer et créer un réseau. Cette réunion trimestrielle est organisée sur Sophia Antipolis, et permet à quelques porteurs de projets de pitcher devant le public (150 personnes en moyenne). 8
SBA START UP INVEST CLOSING Start Up Invest is an event dedicated to the seed financing of high-tech companies. It allows a dozen entrepreneurs to present their company to a panel of investors and business angels eager to invest in projects with high potential. CLOSING Start Up Invest est un évènement dédié au financement en amorçage des sociétés de haute technologie. Il permet à une dizaine d’entrepreneurs de présenter leur société à un panel d’investisseurs et de business angels désireux d’investir dans des projets à fort potentiel. Edition n°1 en mai 2011. 9
SBA ISF HOLDINGS/SBA FONDS ISF In 2008, 2009, 2019, the Sophia Business Angels created a number of ISF Funds which, together with the Sophia Business Angels, invested more than 25 million Euros in more than 50 innovative companies in Sophia Antipolis, France, and Europe. - Innovation Europe - Croissance Europe - Succes Europe - Etoiles Europe - Avance Europe - SBA ISF Holding 10
SOPHIA BUSINESS ANGELS @ PACA, FRANCE, EUROPE The SBA is pleased to be a Member of PACA Angels, 7 Business Angel Groups gathered together in the PACA Region /La SBA est heureuse de faire partie de PACA Angels, 7 Business Angel Groups rassemblés dans la région PACA. France Angels est la Fédération Nationale des Business Angels. Elle fédère depuis 2001 plus de 11 000 Business Angels dont 5 500 actifs individuels ou repartis au sein des 70 réseaux présents sur l’ensemble du territoire. Elle travaille au développement d’un environnement économique, social et juridique favorable aux Business Angels et agit pour promouvoir leur rôle d’accompagnateurs et financeurs de jeunes entreprises innovantes, à fort potentiel de croissance, créatrices d’emplois. France Angels est membre fondateur de Business Angels Europe (BAE). www.franceangels.org En 2017, les Business Angels ont investi 63M€ dans 509 opérations de financement et accompagnent aujourd’hui plus de 2 500 entreprises dans leur problématiques de croissance. EBAN is the pan-European representative for the early stage investor gathering over 150 member organizations more than 50 countries today. Established in 1999 by a group of pioneer angel networks in Europe with the collaboration of the European Commission and EURADA, EBAN represents a sector estimated to invest 11.4 billion Euros a year and playing a vital role in Europe’s future, notably in the funding of SMEs. EBAN fuels Europe’s growth through the creation of wealth and jobs. 11
SBA ECO-SYSTEM/SBA ECO-SYSTÈME 12
SBA FAMILY OF ENTREPRENEURS/SBA FAMILLE D’ENTREPRENEURS During the 15 years of its existence, it has been SBA's joy to mentor and invest in more than 100 companies. Here are some representative companies: Au cours de ses 15 années d’existence, la SBA a eu la joie de parrainer et d’investir dans plus de 100 entreprises. Voici quelques entreprises représentatives: 13
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TESTIMONIALS FROM SBA PRESIDENTS/TÉMOIGNAGES DE PRÉSIDENTS SBA How did we launch the SBA? “In my life I had two challenges that marked me powerfully 1. When in a group of friends we said, let's climb the Kilimanjaro and we prepared accordingly and we achieved it! 2. and when Senator Laffitte said that we have to create a club of business angels and "we made it". This story started in 2002, when the senator invited several entrepreneurs from Sophia Antipolis we had met at the Maeght Foundation, and the senator Laffitte said: “In Sophia we have plenty of healthy international companies, mainly focused on R&D, but we’re missing early stage investment institutions.” So the five of us adhered to this initiative and created the SBA. This is an atypical business angel club with a very international approach, so many members joined later. We had, as any other organisation, ups and downs. But we’re still going on with plenty of investments, coaching start-ups and creating value to the Sophia Antipolis “ecosystem”, behind us. The founders who are still on board: • The visionnaire le sénateur Laffitte • Candace the « wonder-woman » • And myself an Argentinian immigrant o Provençal par adoption And the willingness to go further. There was the foundation team, but also many presidents and board members, who sustained the SBA always leading the way, until TODAY! Annie, Eric Cockini, Jean-Louis, …. And many more My friend the new “outstanding” President Marcel To all of them big Thanks; for making this celebration a big party, and Long life to the SBA” Edgardo da Fonseca Founding President of the Sophia Business Angels 15
"Dans ma vie, j'ai eu deux défis qui m'ont marqué avec éloquence : • Quand dans un groupe d'amis nous avons dit, montons le Kilimandjaro et nous préparons en conséquence et nous y parvenons • et quand le sénateur Laffitte a dit que nous devions créer un club de business angels et voici "nous l'avons fait" Cette histoire a commencé en 2002 lorsque le sénateur a invité plusieurs entrepreneurs de Sophia Antipolis. Nous nous avons rencontré à la Fondation Maeght de Saint-Paul de Vence et le sénateur Laffitte a déclaré: À Sophia, nous avons beaucoup d’entreprises internationales en bonne santé, principalement axées sur la R & D, Mais nous manquons d’institutions pour assurer l’investissement en phase de démarrage. Nous sommes donc cinq à adhérer à cette initiative et à créer la SBA. Ce club de business angel atypique à l’approche très internationale. Tant de membres se joignent en suite. Nous avons comme toute autre organisation des hauts et des bas Mais nous y allons toujours de l’avant accomplissant d’investissements, accompagnant les jeunes entreprises et en créant de la valeur pour «l’écosystème» de Sophia Antipolis. Les fondateurs qui sont encore à bord: • Le visionnaire le sénateur Laffitte • Candace la «femme merveille» • Et moi-même un immigrant argentin o provençal par adoption Il y avait l'équipe fondateur certes, mais aussi de nombreux présidents et membres du conseil d'administration, qui ont soutenu le épanouissement du SBA , jusqu'à AUJOURD'HUI ! Annie, Eric Cockini, Jean-Louis …. Et plein d’autres. Mon ami le nouveau président "exceptionnel" Marcel. Merci à tous pour faire de cette célébration une grande fête, et Longue vie au SBA" Edgardo da Fonseca Founding President of the Sophia Business Angels 16
“The energy and enthusiasm I encounter amongst young entrepreneurs is fascinating. As angels we have a duty to help in any way we can to help channel that energy and enthusiasm to achieve success. I was delighted to find so many like-minded people in the Sophia Business Angels and I am glad they continue the good work 15 years on. Bravo!” Mario Anid SBA President Emeritus SBA President 2005 – 2007 ------------------------------------- “I found my calling when Senator Laffitte suggested to me that I become a Sophia Business Angel. It has been the greatest joy to find like-minded people who are internationally, entrepreneurially oriented and want to make things happen! Together with my peers, we have made Sophia Business Angels. We have helped entrepreneurs truly around the world and we have helped other Business Angel Networks get started. From Sophia Business Angels, I then went on to become the President of EBAN, the European Business Angels Network. My home though will always be Sophia Business Angels and I am so proud of all that we have done in the last 15 years.” Candace Johnson President Emeritus Sophia Business Angels 17
“J'ai toujours été fasciné d'incuber les "start-ups". C'est pourquoi j'ai créé Antipolis Incubation Campus (AIC). Le pas d'aller de financer l'incubation jusqu'à de financer les start-ups était une évolution naturelle, une que j'ai beaucoup apprécié pendant ma présidence de Sophia Business Angels.” Jean-Luc Nahon President Emeritus Sophia Business Angels ------------------------------------- “Sharing my entrepreneurship spirit and experience after a successful first exit had always been my dream professional scenario. With the Sophia Business Angels club, I could realize this dream in the best possible way. And having the opportunity to bring my humble piece to the Business Angel ecosystem by managing the SBA club for two years was even beyond this initial objective. Meeting regularly with experienced entrepreneurs and executives from various countries to discuss investment opportunities in promising high-tech startups reinforced my vision that you really need to solve key industrial problems while thinking big and globally to be successful as an entrepreneur today. I continue to execute this vision for my own investments and in my new startup adventure today. Thanks SBA for all the lessons learned! Happy birthday to the club and all its wonderful members.” Dominique Pouliquen President Emeritus President 2011 -2013 Sophia Business Angels 18
“Being a Business Angel is a journey like being an Entrepreneur. A Business Angel decides to invest in a start-up for various reasons, and overall because there is a fit with the business idea and with the CEO or the management team. I joined the SBA 10 years ago, following one key SBA member at this time, Roland TRIFFAUX. Even if I knew how to do a due-diligence and invest in innovative companies from a professional point of view, I learned a lot after joining the SBA and discovered what it means to put one’s money in a deal, and overall the importance of coaching, opening one’s network and more. The experience of being a Business Angel has been reinforced during my 2,5 years (2012 – 2014) as President of Sophia Business Angels. This is a wonderful opportunity to meet always more investors, entrepreneurs and the ecosystem of the region. As we are celebrating the 15 years of Sophia Business Angels, I always continue to share with more people my BA experience, hoping to convince new investors to join us! Thanks to all my friends at the SBA for this wonderful journey.” Jean-Louis BRELET President Emeritus Sophia Business Angels ------------------------------------- “Pour moi, l'acceleration des projets entrepreneuriaux était toujours primordial. C'est pourquoi je me suis engagé dans Sophia Business Angels, d'abord comme membre, ensuite comme Trésorier, et finalement, comme Président. Pendant ma présidence, nous avons pu faire avancer pas mal de projets de "start-ups" en "scale-ups" et cela me donne énormément de satisfaction. Je reste toujours "Business Angel" quoique je passe le plus part de mon temps maintenant dans le "Private Equity". Je garde dans mon coeur les années que j'ai passe avec le Sophia Business Angels." Mike Hessabi President Emeritus Sophia Business Angels 19
“22nd June 2012: On Senator Pierre Laffitte’s strong recommendation, I visited the SBA Start-up Factory evening organised by Sophia Business Angels at the terraces of Espace Antipolis. Warmly welcomed by Annie, Alix and several other members, surrounded by around 200 guests, in a very friendly atmosphere, I enjoyed the cocktail and meeting entrepreneurs, investors, consultants, experts, business angels … but most of all watching 10 start-ups pitching. Arriving from Central Asia, I immediately felt my little grey cells getting excited by brilliant ideas and enthusiasm from “start-uppers”. 6 years have passed now and the same excitement comes at every event throughout the year. SBA and its members has really brought value to hundreds of start-ups, by investing but also through contacts, advice, and improving vision and business models, thus supporting innovation, job creation and global economic value. I encourage others to become members to experience this unique position and start-ups to submit their projects. Best regards to All.” Eric Cokini President Emeritus Member of the Board Sophia Business Angels “22 juin 2012 : Sur les conseils du Sénateur Pierre Laffitte, je participe à ma première soirée SBA Start-up Factory organisée sur les terrasses ensoleillées des Espaces Antipolis. Accueilli très chaleureusement par Annie, Alix et d’autres Business Angels, entouré d’environ 200 invités, je rencontr à l’occasion du cocktail entrepreneurs, investisseurs, experts, consultants … mais surtout je peux assister aux pitches d’une dizaine de start-ups. En arrivant d’Asie centrale, j’ai eu beaucoup de plaisir à sentir mes neurones excités par des idées brillantes, innovantes, et par l’enthousiasme des “start- uppers”. Six ans ont passé et je suis saisi par la même excitation à chaque événement du SBA en découvrant de nouveaux projets. SBA et ses membres ont apporté une vraie valeur à des centaines de start-ups par l’investissement mais aussi les relations, les conseils, l’amélioration de la vision et des modèles … soutenant ainsi l’innovation, la création d’emploi et une valeur économique globale. J’encourage les personnes intéressées à devenir membres pour partager ces expériences uniques et les start-ups à soumettre leurs projets. Bienvenue à Toutes et à Tous !” Eric Cokini President Emeritus Member of the Board Sophia Business Angels 20
“• I became a business Angel in 2013 as I wanted to give back to both my local community, to our society and back home where I was born. Since the earlier days (after 35 years in the high-tech / Telecom industry) of being an entrepreneur by opening several EMEA HQ offices for some of the most successful US high-tech startups (pre-IPOs & multi-million M&A exits), I always had a dream that I’d like to one day help others through both advice and investment. One of the mindsets that has helped me work through some of the tougher moments has been knowing that I can help other founders with those very issues. I’ve also learned over time that helping others is one of the things that brings me the most happiness. I saw investing in startups as a new way to help others, with not just the financial investment but by being available as an advisor to portfolio companies... and being an instrument to truly make a difference in changing people’s lives. • Being the President of SBA brings me joy by connecting with the whole French start up écosystème, by interacting with other BA clubs such as PACA Angels & France Angels, including Incubators & Accelerators such as The Camp in Aix & station F in Paris. • As a board Member of the European Business Angels Network, EBAN brings me all of those International BA best practices, Networking with both EU, African & ME BA communities, including knowledge sharing & helping many startups to get their international launch pad.” Marcel DRIDJE President of Sophia Business Angels Mentor at The Camp AIX en Provence EBAN Board Member 21
TESTIMONIALS FROM SBA MEMBERS/TÉMOIGNAGES DE MEMBRES SBA “SBA is not a monolithic structure – it is a club of individuals: serial entrepreneurs, senior managers, seasoned professionals. We meet together, discuss together, and invest together (or not). We work hard, coach, mentor, guide, praise, criticize and agree to disagree. …… and we socialize. Together we eat and drink and sing and laugh. We are women and men, young and not-so-young, from Europe and America, from the Middle East and Asia …….. in the South of France. SBA’s members and their families and the entrepreneurs we sponsor and the students we encourage have watched spectacular fireworks from a Cannes beach, tasted superb wines at a member’s vineyard in the Var countryside, sung Christmas carols at a member’s villa overlooking the Mediterranean, dined elegantly and casually, and listened to beautiful music. Tonight, we celebrate the imagination and audacity and inspiration of those who came together 15 years ago in this magical space which glorifies art. We savor our past contributions to innovation and entrepreneurship, and we plan for the next 10 years. We take pride and pleasure at the new, young, vital SBA members who will carry the mission forward. And we lift our glasses of Roederer Champagne so graciously provided by that exemplary family business. Joyeux anniversaire, Sophia Business Angels !" Burton GINTELL SBA Emeritus Board Member SBA Member 22
“When I joined Sophia Business Angels, they had been in existence for one year. 14 years later I am proud to have been able to bring mentorship and finance to local, regional national and international entrepreneurs and to have helped them create value. The SBA is the perfect platform for this! Some of my best souvenirs with the SBA were when we created the three ISF holdings in the framework of the TEPA law. We stayed up nights, we worked around the clock with one objective only in mind -- to support the young entrepreneurial, innovative companies, to create value, to create jobs. Being a Sophia Business Angel is a rich and rewarding human adventure. It is not only an investment of money. Far from this. It is an investment of one's self, of one's experience and expertise. The satisfaction you receive is more than commensurate with all that you give." Annie Prodhomme Long-time SBA Member Secretary General SBA “Sophia Business Angels avait un an lorsque j’ai rejoint ses rangs. 14 ans plus tard, je suis fière et heureuse d’avoir apporté conseils et financements aux entrepreneurs et contribué ainsi à créer de la valeur, que ce soit au plan régional ou international. Mon meilleur souvenir : les trois fonds que nous avons créés en 2008 dans le cadre de la loi TEPA avec beaucoup de nuits blanches et un seul objectif : soutenir des projets d’entreprises. Créer de la valeur. Créer des emplois. C’est une aventure humaine riche et intense, un investissement aussi, en temps et en énergie. A la hauteur de la satisfaction qu’on en retire.” Annie Prod’homme SBA Secrétaire Générale SBA Membre depuis 2004 23
“Having arrived on the Cote d’Azur to enjoy the good life, after a few years of doing exactly that, my business brain began to feel neglected, and so I joined the Sophia Business Angels in 2007. My thinking was that I could add a little professional activity to my otherwise quite tranquil life. Well that didn’t exactly go as planned (!), and I now find myself President (Chairman in Anglo- Saxon speak, more or less) of Insight SIP, a fast-growing microelectronics start-up serving customers all over the world. To get from there to here, I started as an Angel investor, then later took a role in some venture funds managed by SBA members. That led me onto becoming a board member of Insight SIP, one of the investee companies, and there was a meeting of minds, personalities, and recognition of complementary skills and experience, and well, the rest is history. Except there’s plenty of history still to be written…. Anyway, I would like to congratulate the SBA on reaching its 15 years; it’s certainly provided a wild ride for me, and also for other members a collection of unique experiences, some successful, others less so (but hey, that’s the game we’re in), but never boring! And I wish it all the best for the future.” Nick Wood Chairman of Insight SIP SBA Member 24
TESTIMONIALS FROM SBA PARTNERS/TÉMOIGNAGES DE PARTNAIRES SBA During the last 15 years, the Sophia Business Angels have been fortunate to develop long-term relationships with three wonderful international Business Angel groups with whom we have co-invested and with whom we have shared best practices throughout the years. “It has been almost seven years since you welcomed us in one of your Venture Academies and helped us found a business angel network, here in Istanbul. Looking back, as GBA, we were lucky to have such a partner, guide and sister network like Sophia Business Angels. Today, we are very happy to say that GBA is the premier and the most respected business angel network not only in Turkey but also in the region. Our success is also yours and you should be proud of it. As GBA, we congratulate you on your 15th year anniversary and wish for a long lasting cooperation between our angel networks.” Emre Kurttepeli President of Galata Business Angels “I always believed "sharing the knowledge" is a great virtue that also makes angel investing meaningful and separating it from any kind of investment. As GBA, we have not only learned "how to found a business angel network" from you, but also "how to share the value we created." Today, we guide other angel networks, start ups, accelerators, and governing bodies in Turkey's startup ecosystem. Thus the little spark you shared has burst into a flame.” Ata Uzunhasan Managing Director of Galata Business Angels 25
“It has been a pleasure to be associated with Candace Johnson and SBA. We've had collaborative opportunities between SBA and Mumbai Angels and have enjoyed working together. I would like to congratulate her and the SBA on its 15th year Anniversary and wish them super success in the years ahead. Keep up the great work!!” Sasha Mirchandani and Prashant Choksey Co-founders of Mumbai Angels “I am proud to have worked with Sophia Business Angels since my first visit in 2011 and know that Cambridge Angels has exchanged best practices and deals for at least 5 years before that. Many friendships have been formed between SBA and the Cambridge Angels… SBA have always proved gracious and knowledgeable hosts when we have visited.” Peter Cowley Chair of the Cambridge Angels 26
“EBAN is proud to have a long-time and valuable member in Sophia Business Angels, who have contributed greatly to our organisation both as members and as representatives on our Board of Directors. SBA have led the way with making cross- border investments and have pioneered the Venture Academy – a great concept for training entrepreneurs and putting them in front of experienced investors. I would like to congratulate Sophia Business Angels on their 15 years of achievements and wish them further success in their endeavours.” Peter Cowley President of EBAN 27
TESTIMONIALS FROM ENTREPRENEURS/TÉMOIGNAGES D’ENTREPRENEURS “In 2009, the SBA ISF Holdings, Succès Europe and, in 2010, Etoile Europe invested in Amalto Technologies, five years after we founded the company. The company was already a grown up startup present both in France and in the US, looking for a way to reach the next level. As with most good business deals, the story started with the good chemistry between the people involved; Succes Europe was not the most prestigious angel group at the time but meeting the SE team, most of them having a present or past entrepreneur experience, was critical in our decision to start the due diligence. Almost ten years in that journey together, we can share a couple of highlights in how Succes Europe has contributed to the growth of Amalto: - In 2012 Succes Europe challenged our pricing model: we had imported our French price list to the US, not realizing that the value created by our solutions for our north American oil and gas customers could justify a significant price hike. Long story short, we almost tripled our prices and this did not slow down the customer acquisition - on the contrary. - Over the years we have attempted with variable degrees of success to penetrate different markets associated to the oil and gas industry, in particular the Gulf countries (Dubai, Oman, Qatar, KSA). At the time, this was facilitated by having access to the SE local network; we can remember, in particular, a discovery trip to Oman and Bahrein where SE members joined us and contributed to the business development with their knowledge of the local culture. How we have benefited the most from SE is their role of adviser on top of their role of shareholder and board member; Having access to friendly although not complacent people while developing a company like Amalto over the years was invaluable.” Jean-Pierre Foehn CEO of Amalto Technologies 28
“Au nom des fondateurs et de toute l’équipe d’Insight SiP, je remercie Sophia Business Angel pour leur confiance. En 2008, nous étions encore une jeune société lorsqu’ils ont investi pour la première fois chez nous. Depuis la confiance s’est renforcé et cet investissement initial a été suivi de 3 autres. Pendant ces années nous avons eu grand plaisir à discuter avec l’équipe de SBA et à écouter les conseils toujours judicieux. Toutes mes félicitations pour les 15 ans de Sophia Business Angel. Rendez vous pour les 30 ans.” Michel Beghin Cofondateur et CEO Insight SiP ------------------------------------- “Sophia Business Angels has truly been a transformational organisation for Faveeo, in every sense of the word. SBA has, without a doubt, fundamentally contributed to the development and the success of the company, over time. Right after meeting with SBA, thanks to the introduction of Marcel Dridje to the group, things have drastically accelerated for us. Not only have we received support and capital from the SBA members, involving themselves in the business and bringing their advice and often times their leads to the business, but we also had the opportunity to tap into an extended network that got us to be introduced to partner groups around the world. GBA in Istanbul, that also invested in the company, is a great example, with whom we would never have had a contact if it wasn't for SBA. In short, after SBA committed 200K CHF in Faveeo, a series of events was set in motion that also compelled GBA to invest another 200K CHF and, right after that, gave the confidence to the State of Geneva to also match the investment and invest a further 400K CHF. Suddenly with to the impulse of SBA, we had a proper seed round. Thanks to the trust and confidence that was shown by SBA, it literally created a positive momentum that we had struggled to create without the support of such a great, active and involved business angels group. Not only has SBA, Candace Johnson and Marcel Dridje specifically, helped kick off and create this positive momentum, they've also been there since to support the company 29
in its good times, but also in its most difficult times, with sound advice, tough love and whole-hearted support. For Faveeo, SBA is family, and as such, I can truly testify that SBA has truly been a transformational organisation, not only for the company, but also for myself.” Alexis Dufresne CEO of Faveeo.com 30
SOPHIA BUSINESS ANGELS IN NUMBERS AND NAMES/LES NOMS ET LES CHIFFRES DERRIERE SOPHIA BUSINESS ANGELS Sophia Business Angels Founder and Honorary President/Fondateur et Président d’Honneur: Senator Pierre Laffitte Presidents/ Présidents: 2002 - 2018 Marcel Dridje: 2018 - present Eric Cokini and Marcel Dridje: Co-Presidents, 2017-2018 Mike Hessabi: 2016 - 2017 Mauro Dell'Orco: 2015 - 2016 Jean-Louis Brelet: 2013 - 2015 Dominique Pouliquen: 2011 - 2013 Jean-Luc Nahon: 2009 - 2011 Candace Johnson: 2007 - 2009 Mario Anid: 2005 - 2007 Edgardo da Foneseca: 2002/3 - 2005 Secretary General: Annie Prodhomme, 2004 - 2018 Treasurer/Board Member Emeritus: Burton Gintell, 2005 - 2018 Members: 30 - 50 per annum Managing Directors: Alix de Bressy, 2011 - 2018 and Juliana Garaizar, 2007 - 2011 Investments/Investissements: 55 million Euros in more than 100 start-ups in 15 years/55 million Euros dans plus de 100 "start-ups" en 15 ans. Exits/Sorties: 20 exits/20 sorties @ ca. 2X Venture Academies: 22 Venture Academies as of 2008 with more than 200 companies, 200 coaches and judges participating/ 22 Venture Academies depuis 2008 avec plus de 200 sociétés et 200 juges et coaches Start-Up Factory: 16 Start-Up Factory's as of 2011 with more than 100 projects/ideas presented and 3000 participants/ 16 Start-Up Factory's avec plus de 100 projects/idées et 3000 participants. ISF Holdings: Innovation Europe, Croissance Europe, Succes Europe, Avance Europe, SBA ISF Holding Partners/Partenaires: Fondation Sophia Antipolis, CCI Cote d'Azur, SKEMA, Club d'Entreprises Sophia Antipolis, PACA Angels, France Angels, BNP Paribas, Roederer, EBAN, Galata Business Angels, Mumbai Business Angels, Cambridge Angels, Anima, The Next Society, Cork BIC, Cologne Business Angels, Bahrain Economic Development Bank, King Abdulaziz City of Science and Technology - Saudi Arabia. 31
APPENDIX/APPENDICE Sophia Business Angels and SKEMA Business School bring their International Venture Academy to the accelerator, Le Village by CAAP, located at thecamp in Aix-En-Provence, France, reinforcing early stage co- investing and the ecosystem across the entire Sud-Provence-Alpes-Côte d’Azur region. The winners, BEEing, The Edge Company, KeeeX and MoRice point to a new direction in Angel Investing, embracing the Environment, Sustainable Mobility, and the Future of Food. SBA also prepares for its 15th Anniversary Celebration with France Angels, and EBAN, the European Business Angel Network, as well as local and regional partners, on 29th November in Sophia Antipolis, on the Côte d’Azur, France. 12th November, Sophia Antipolis and Aix-en-Provence, France: as Sophia Business Angels, one of Europe’s first Business Angel groups, readies itself to welcome local, regional, national, and international partners to the celebration of its 15th Anniversary, it continues to transform itself. On 26th October the SBA held its 30th International Venture Academy at thecamp, continuing its already long-term partnership with the SKEMA Business School plus forging a new partnership with the resident accelerator at thecamp, Le Village by CAAP. This exciting extension of the SBA Venture Academy formula reinforces its ties with the PACA region and adds another accelerator to the SBA’s partner ecosystem, which already includes the accelerator BA06 in Nice. Le Village by CAAP is a joint venture between thecamp and Crédit Agricole Alpes Provence and attracts entrepreneurs from around the world to programs such as “climb @thecamp”, an intensive 3-month program, immersing early stage startups in workshops on marketing, fundraising, team building, and market traction. Each founder team is assigned mentors, several of whom have come from the SBA and SKEMA. As such, the teams are perfect for the SBA’s International Venture Academy “Coaching & Mentoring Day” which focuses on identifying startups that are “investment ready”. 20 coaches and judges from 7 countries, representing the SBA, Get in the Ring, PACA Investissement, SKEMA, The Young Entrepreneur School, and thecamp spent the day with 10 founder teams from Italy, France, Ukraine, and Senegal. The Venture Academy always attracts a diverse collection of startups and this edition was no exception, featuring companies involved in the environmental, mobility and food sectors utilising IoT, AI and Machine Learning. The winners were: 32
• BEEing won the Most Investible Startup award, http://www.emiliaromagnastartup.it/en/innovative/startups/beeing • The Edge Company won the Best Presentation Award, https://www.theedgecompany.net/en/safety-system/#main • KeeeX won The Michael Rogosin Best Team Award, https://keeex.me/ • MoRice won the Most Improved Presentation award, https://en-gb.facebook.com/moricedesserts/ EBAN Scaleup of the Month: The winners of the first two prizes will be exclusively featured in the EBAN Scaleup of the Month initiative (http://www.eban.org/scaleup- of-the-month), designed to encourage Startups to make the bold move of scaling their business. “Too many European Startups never gain market traction,” said Marcel Dridje, President of the SBA, one of the co-founding judges of the EBAN Scaleup of the Month and a Member of the Board of EBAN. “This is a great cooperation between the SBA and EBAN to collectively set the bar higher for entrepreneurs to gain real customers, real traction and real revenues. We can no longer invest in companies that do not create value or impact. This is also why we are embracing companies in the environmental, energy, mobility and food sectors, utilising IoT, AI and Machine Learning to bring real solutions to the world’s problems,” concluded Dridje. The SBA will be celebrating its 15th Anniversary this 29th November at an Investment Workshop, held in conjunction with France Angels at Espaces Antipolis. The day concludes with a Cocktail Reception and Live Entertainment. The SBA Spring 2019 International Venture Academy will take place in April next year in Sophia Antipolis, on the Côte d’Azur. For more information on the SBA, please contact: Annie Prod’homme, Secretary General, Sophia Business Angels annie.prodhomme@sophiabusinessangels.com 33
Version française : Le Club Sophia Business Angel (SBA), créateur de l’International Venture Academy, soutenu par SKEMA Business School, a présenté une nouvelle édition le 26 octobre 2018 à « The Camp », le nouvel accélérateur d’Aix-en-Provence avec « Le Village » du Crédit Agricole, renforçant ainsi l’écosystème de co-investissement des jeunes start-ups de la région PACA. Les vainqueurs Beeing, The Edge Company, Keeex et Morice préfigurent une orientation plus importante d’investissement des « Anges » dans l’environnement, la blockchain, la mobilité durable et une production alimentaire saine et optimisée. SBA se prépare pour ses 15 ans de célébration avec France Angels et EBAN - European Business Angel Network, ainsi que ses partenaires locaux et régionaux, le 29 novembre 2018 à Sophia Antipolis / Nice. 12 novembre, Sophia Antipolis-Aix-en-Provence-Nice France: Sophia Business Angels, l'un des premiers clubs européens de Business Angel, se prépare à accueillir ses partenaires locaux, régionaux, nationaux et internationaux à la célébration de son 15ème anniversaire, et continue de créer de nouvelles approches et innover dans l’investissement auprès des start-ups. Les 25 et 26 octobre derniers, la SBA a étendu son partenariat de longue date avec SKEMA Business School pour inclure un nouvel axe avec « Le Camp Accelerator / Le Village de Crédit Agricole Alpes Provence », renforçant ainsi ses liens avec la région PACA tout en développant une extension originale de sa formule de la Venture Academy pour inclure non seulement les écoles de commerce, mais également les accélérateurs, comme B06, avec lesquels la SBA a déjà une relation suivie. Le Camp accélérateur - Le Village de CA Alpes Provence est une joint-venture entre Le Camp et le Crédit Agricole Alpes Provence et attire des entrepreneurs du monde entier pour, entre autres programmes, «Progresser au Camp», plongeant, dans le cadre d’un programme intensif de 3 mois, les jeunes start-ups en phase de démarrage dans le cadre d'ateliers marketing, collecte de fonds, team building et promotion du marché. Chaque équipe de fondateurs se voit attribuer des mentors, dont plusieurs sont issus de SBA et SKEMA. L’International Venture Academy de SBA prend alors toute sa dimension en tant que correcteur et révélateur, au cours d’une journée de coaching et Mentorat au bénéfice des équipes « quasimment prêtes recevoir un investissement ». 20 coachs et juges de 7 pays représentant le SBA, Get in the Ring, PACA Investissement, SKEMA, Yes School et Le Camp ont réalisé cette performance auprès de 10 équipes fondatrices venues d'Italie, de France, d'Ukraine et du Sénégal. Contrairement aux éditions précédentes de la Venture Academy, qui traitaient des technologies mobiles et des applications, cette édition de la Venture Academy mettait 34
en vedette des entreprises des secteurs de l'environnement, de la mobilité, de la blockchain et de la production alimentaire utilisant les technologies IoT. Les vainqueurs étaient : · BEEING a remporté le prix « Prête à l’Investisesment », http://www.emiliaromagnastartup.it/en/innovative/startups/beeing · The Edge Company a remporté le prix « Meilleure Présentation », https://www.theedgecompany.net/en/safety-system/#main · Keeex a remporté le prix Michael Rogosin «Meilleure Equipe », https://keeex.me/ · Morice a remporté le prix « Meilleure Progression du Modèle», https://fr- fr.facebook.com/moricedesserts/ Les gagnants seront promus en exclusivité dans le programme EBAN Scale Up du mois: Les lauréats des deux principaux prix seront présentés en exclusivité dans EBAN Scale Up du mois, une initiative d'EBAN, European Business Angels Network, http: // www. eban.org et ses membres pour inciter les start-ups européennes à «se développer». «Trop de start-ups européennes ne gagnent jamais de marché», a déclaré Marcel Dridje, président de la SBA, l'un des juges cofondateurs de l'EBAN Scale Up of the Month et membre du conseil d'administration de l'EBAN. «Il s’agit d’une excellente coopération entre la SBA et EBAN, avec pour objectif commun de pousser et aider les entrepreneurs à trouver des clients et générer des revenus. » Nous ne pouvons plus continuer à investir dans des entreprises qui ne créent ni valeur ni impact. C’est aussi pour cette raison que nous nous impliquons dans les secteurs de l’internet des objets, de l’environnement, de l’énergie, de la mobilité, de la production alimentaire et que nous apportons des solutions concrètes aux problèmes mondiaux », a conclu Marcel Dridje. La SBA célébrera son 15ème anniversaire ce 29 novembre lors d'un atelier sur les investissements, organisé conjointement avec France Angels aux Espaces Antipolis, suivi d'un cocktail. La prochaine Académie internationale du SBA aura lieu au printemps 2019 dans la région de Sophia Antipolis / Nice. Pour plus d'informations sur le SBA, veuillez contacter: Annie Prodhomme, Secrétaire générale Sophia Business Angels annie.prodhomme@sophiabusinessangels.com 35
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