Bortnik Fund - "easy money" for the benefit or harm
Each startup chooses its own development path: personal investment, investors or funds. Each has pros and cons. Our company receives the third grant. And I want to share my personal experience, how difficult it is and what to do with it.
The story began with the idea of ​​the project "Online Video Editor". A team from a group of geeks, developers and one sensible manager gathered. Nobody had money for the project. We were not satisfied with the lending option, because no one then had any guarantees that the project would take off, and there was nothing left on bail. There were more options: investors and funds. It is not an easy task to get to the first and second ones from scratch. We tried both options. Nevertheless, the option for the foundation turned out to be working for us.
In 2009, the Foundation for Assistance to the Development of Small Enterprises in the Scientific and Technical Sphere, also called the Bortnik Foundation in honor of its founder, Ivan Mikhailovich Bortnik, held a competition together with Microsoft. It was called Microsoft Business Start. We have applied. For a group of developers and one manager, who at that time, although he had some experience in managing the company, filling out an application is a separate epic. But we passed the qualifying round, were allowed to face-to-face defense, but at this stage the project was “stabbed to death”.
The fact is that in the qualifying round only formal signs are taken into account. To pass it you need to carefully fill in all the fields, specify all the numbers to the comma, attach all the documents. But on full-time defense, where there are 8 experts, they ask "deep" questions about the project.
In general, we did not pass this test. We had the main remarks: inadequate financial model, exaggerated market volume, and unclear product positioning - we could not explain who the consumer would be, how many and why they would need it. We also did not provide any confirmations from investors or potential users.
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But we didn’t stop at that; we participated in other events, simultaneously developing the product. And in the summer of 2009, they won, but in another competition from the same foundation: the competition of U.M.N.I.K. 400 thousand rubles for 2 years. In fact, this is a scholarship that is paid to one student, but we put this money into the project, into the common pot. If you are not a student, it is also possible to participate in this competition, as long as there is a supervisor and not necessarily from a university, it may be an employee of a company.
But under this program we worked for only 1 year, i.e. received a total of 200 thousand. In 2010, they traveled to Seliger, defended the project and won the competition “UMNIK on START” , in which the foundation finances the project in the amount of 1 million rubles. for one year. The winners were announced in July, after that there was a procedure for issuing a government contract. The first tranche of $ 250 tr. Entered the company in January 2011. It is easier to enter the START program gradually: first, UMNIK, then UMNIK on START. For those who did not participate in UMNIK there is another program - START . In it, you can apply directly, bypassing the contest UMNIK. The result is the same: 1 million per year.
At the end of 2011, we submitted the final report for the first year of the program. All reports were submitted on time, so all tranches were also received on time. The lag between the sending of the report and the receipt on the settlement account is about 15-20 days.
The foundation is a state structure, so the main thing is that everything in the reports is accurate, to the point. And in fin. the report should be taken into account every penny, and the final report should converge to 0. Otherwise, they ask a lot of questions. Fortunately, the estimate for the project is the main cost item for IT-Schnick - salary, here you can adjust the balances.
If we talk about the amount of funding, it seems great. In fact, it turns out something like this: 1 million = this is 83,300 rubles. per month, of which 25,445 are taxes. Those. on salary remains only 57 855 rubles. Those. 2 good or 3 small salaries. Moreover, in order to have a reduced tax rate for IT companies, you need to have OKVED 72.20 Software development and consulting in this area and be accredited to Rosinformtekhnologii.
There is also a limitation where you can spend the money. This is targeted funding for R & D. We spend on development (salary) and rental of premises. For example, you cannot spend on marketing and promotion.
For the first year of the program, we developed the first version of a new mobile application for Android and uploaded it to Google Play.
Now we are in the 2nd year of the START program, under which the fund finances in the amount of 2 million rubles. for a year. To pass in the 2nd year it was necessary to choose a development option: investment or self-development. Self-development suggested that we should have an annual turnover more than the amount raised by 4 times, i.e. 8 million rubles We do not have such resources, so we chose to attract an investor. We entered into a contract with an investor - 50% of it, 50% of the fund, and passed in the 2nd year of the program.
All reporting is carried out in the online system, which is called uncomplicated - FUND. It records data for the reporting period and then printed out, signed by the head. The electronic report is transferred to the status “For approval”, and a paper copy is sent to the office of the fund. The system is quite convenient. In a few years has evolved. They say it was difficult to work with her before.
You can work with the Bortnik Fund. You can get support for the project. A team of 2-3 people in the first year and 4-5 in the second (there is still the third year of the program: 3 million per year) will succeed. There is one thing that spoils the rosy picture: if you have a nonstandard situation with documents and formalism, for example, one of the team members is a citizen of another country, and the issue needs to be resolved, then by a call to the fund, the decision to achieve will not work. At each step to the side you need to write a letter to the name of the gene. Director of the fund, which delays deadlines.
And in general, the money of the fund can be taken, if you understand that this is only help that will end. If you understand what you need to enter the market. The goal of the foundation is to help your company get on its feet and become self-sufficient. There is a danger of getting hooked on numerous funds - driving around the country and asking for all the money, while concentrating on the market and the products or services being sold. We initially suffered from this misunderstanding and relied on "easy funding." One fund will help to get on their feet, and others will relax, and when funding is over, there is a danger of drowning. Among friends there are such cases. The general attitude to the issue of attracting capital is lucidly described in Guy Kawasaki ’s START-UP book.
The Bortnik Fund is a good help at the start, but be careful with the money that came to you not from the market. Develop a product that the market needs, and then the money will find you.
The story began with the idea of ​​the project "Online Video Editor". A team from a group of geeks, developers and one sensible manager gathered. Nobody had money for the project. We were not satisfied with the lending option, because no one then had any guarantees that the project would take off, and there was nothing left on bail. There were more options: investors and funds. It is not an easy task to get to the first and second ones from scratch. We tried both options. Nevertheless, the option for the foundation turned out to be working for us.
In 2009, the Foundation for Assistance to the Development of Small Enterprises in the Scientific and Technical Sphere, also called the Bortnik Foundation in honor of its founder, Ivan Mikhailovich Bortnik, held a competition together with Microsoft. It was called Microsoft Business Start. We have applied. For a group of developers and one manager, who at that time, although he had some experience in managing the company, filling out an application is a separate epic. But we passed the qualifying round, were allowed to face-to-face defense, but at this stage the project was “stabbed to death”.
The fact is that in the qualifying round only formal signs are taken into account. To pass it you need to carefully fill in all the fields, specify all the numbers to the comma, attach all the documents. But on full-time defense, where there are 8 experts, they ask "deep" questions about the project.
Each expert evaluates the project according to the criteria:
- Scientific and technical part of the project. It is important to substantiate the need to develop, prove the scientific novelty, present the results of a patent search, show the scientific and technical risks, prove the competence of the developers.
- Commercialization. We need to try to convince experts why a scientific and technical idea can become a business: present a commercialization strategy, compare competitors and their business models, show the results of market analysis with the idea of ​​who will be a consumer and why they need it. Ideally, you need to provide evidence in the form of survey results or letters of support - they are especially appreciated.
- Action Plan for the implementation of the project. Here, of course, it is estimated how extensively you have worked out an action plan, starting from the development and ending with the protection of intellectual property rights.
- Development plan. How realistic are your ideas, what do you expect from the project after 1,2,3 years of existence, how much do you plan to earn on it, how real are the payback periods, is the salary level justified, etc.
- Team. Well, it is clear here - what are the competencies, experience and merit of all team members. If you can surprise the experts - you are great! Because usually in this section, everyone remembers not only real work experience, but also diplomas on the high school olympiad.
In general, we did not pass this test. We had the main remarks: inadequate financial model, exaggerated market volume, and unclear product positioning - we could not explain who the consumer would be, how many and why they would need it. We also did not provide any confirmations from investors or potential users.
')
SMART ASS. and U.M.N.I.K. on your marks
But we didn’t stop at that; we participated in other events, simultaneously developing the product. And in the summer of 2009, they won, but in another competition from the same foundation: the competition of U.M.N.I.K. 400 thousand rubles for 2 years. In fact, this is a scholarship that is paid to one student, but we put this money into the project, into the common pot. If you are not a student, it is also possible to participate in this competition, as long as there is a supervisor and not necessarily from a university, it may be an employee of a company.
But under this program we worked for only 1 year, i.e. received a total of 200 thousand. In 2010, they traveled to Seliger, defended the project and won the competition “UMNIK on START” , in which the foundation finances the project in the amount of 1 million rubles. for one year. The winners were announced in July, after that there was a procedure for issuing a government contract. The first tranche of $ 250 tr. Entered the company in January 2011. It is easier to enter the START program gradually: first, UMNIK, then UMNIK on START. For those who did not participate in UMNIK there is another program - START . In it, you can apply directly, bypassing the contest UMNIK. The result is the same: 1 million per year.
At the end of 2011, we submitted the final report for the first year of the program. All reports were submitted on time, so all tranches were also received on time. The lag between the sending of the report and the receipt on the settlement account is about 15-20 days.
The foundation is a state structure, so the main thing is that everything in the reports is accurate, to the point. And in fin. the report should be taken into account every penny, and the final report should converge to 0. Otherwise, they ask a lot of questions. Fortunately, the estimate for the project is the main cost item for IT-Schnick - salary, here you can adjust the balances.
If we talk about the amount of funding, it seems great. In fact, it turns out something like this: 1 million = this is 83,300 rubles. per month, of which 25,445 are taxes. Those. on salary remains only 57 855 rubles. Those. 2 good or 3 small salaries. Moreover, in order to have a reduced tax rate for IT companies, you need to have OKVED 72.20 Software development and consulting in this area and be accredited to Rosinformtekhnologii.
There is also a limitation where you can spend the money. This is targeted funding for R & D. We spend on development (salary) and rental of premises. For example, you cannot spend on marketing and promotion.
For the first year of the program, we developed the first version of a new mobile application for Android and uploaded it to Google Play.
START
Now we are in the 2nd year of the START program, under which the fund finances in the amount of 2 million rubles. for a year. To pass in the 2nd year it was necessary to choose a development option: investment or self-development. Self-development suggested that we should have an annual turnover more than the amount raised by 4 times, i.e. 8 million rubles We do not have such resources, so we chose to attract an investor. We entered into a contract with an investor - 50% of it, 50% of the fund, and passed in the 2nd year of the program.
All reporting is carried out in the online system, which is called uncomplicated - FUND. It records data for the reporting period and then printed out, signed by the head. The electronic report is transferred to the status “For approval”, and a paper copy is sent to the office of the fund. The system is quite convenient. In a few years has evolved. They say it was difficult to work with her before.
TOTAL
You can work with the Bortnik Fund. You can get support for the project. A team of 2-3 people in the first year and 4-5 in the second (there is still the third year of the program: 3 million per year) will succeed. There is one thing that spoils the rosy picture: if you have a nonstandard situation with documents and formalism, for example, one of the team members is a citizen of another country, and the issue needs to be resolved, then by a call to the fund, the decision to achieve will not work. At each step to the side you need to write a letter to the name of the gene. Director of the fund, which delays deadlines.
And in general, the money of the fund can be taken, if you understand that this is only help that will end. If you understand what you need to enter the market. The goal of the foundation is to help your company get on its feet and become self-sufficient. There is a danger of getting hooked on numerous funds - driving around the country and asking for all the money, while concentrating on the market and the products or services being sold. We initially suffered from this misunderstanding and relied on "easy funding." One fund will help to get on their feet, and others will relax, and when funding is over, there is a danger of drowning. Among friends there are such cases. The general attitude to the issue of attracting capital is lucidly described in Guy Kawasaki ’s START-UP book.
The Bortnik Fund is a good help at the start, but be careful with the money that came to you not from the market. Develop a product that the market needs, and then the money will find you.
Source: https://habr.com/ru/post/173825/
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