How2Finance

Uitleg over de Top10 van financierings instrumenten (ontbijtsessie)

Hoe vind ik de juiste financiering voor mijn onderneming?

Voor startende en groeiende ondernemers is financiering extreem belangrijk maar vaak ook onoverzichtelijk qua mogelijkheden. Wat zijn de voor- en nadelen van een lening t.o.v. van subsidie nu en op de lange termijn? Welke financiering past bij welke fase? En welke mogelijkheden zijn er allemaal?

Speciaal voor alle startende ondernemers in de regio Oost-Nederland die op zoek zijn naar financiering organiseren Oost NL, Orion en Briskr samen met diverse partners een inspirerende ontbijtsessie. Tijdens dit How2Finance event gaan we in op de verschillende financieringsinstrumenten. Van vroege fase financiering tot groeikapitaal. En van subsidies tot participatie van Business Angels.

Aan de orde komen bijvoorbeeld:
1. De financieringsinstrumenten van RVO Nederland
2. Het OP-Oost subsidieprogramma
3. Startup Fonds Gelderland
4. Vroege Fase Financiering Gelderland
5. Achtergestelde innovatie leningen van de Rabobank
6. Crowdfunding
7. De Gelderse Groeiversneller
8. Het Business Angel Netwerk

De bijeenkomst is niet alleen informatief, maar ook heel praktisch en ‘hands on’. Ondernemers kunnen ook individueel met experts op het gebied van financiering in gesprek tijdens de speed date sessies. Er is dan volop gelegenheid om je eigen situatie te bespreken en samen vrijblijvend te zoeken naar de beste mogelijkheden.

Meer informatie
Voor meer informatie over How2Finance, klik hier

Fysiek event
Dit is een ‘live’ event op Novio Tech Campus te Nijmegen. Indien nodig volgen we de RIVM richtlijnen. We hebben een ruime zaal en kunnen indien nodig voldoende afstand bieden. Als de situatie het écht niet toelaat om een fysiek event te organiseren zullen we het event uitstellen of online streamen. We sturen je uiterlijk vrijdag 18 maart meer informatie via het email adres info@briskr.nl (kijk ook even in je spam!)

Goed om te weten
Dit is een gratis event, maar registratie vooraf is nodig i.v.m. catering en eventuele coronamaatregelen. Alle startende ondernemers zijn welkom, het staat je vrij deze uitnodiging te delen met andere ondernemers in je netwerk. Meld je hieronder aan voor deze ontbijtsessie!

How to determine the value of a company?

Blog Aeternus

As an entrepreneur you are – as a matter of course – occupied with the future of your company. What are the opportunities in the market for your branch? Where do you want to grow with your company? And when you eventually want to sell your company, how much is your company worth? Smart entrepreneurs have been developing their most important value drivers for years before selling their company. The value drivers are in fact the most decisive factors for the value and price of your company, not just profit or EBITDA.

In this blog you will read which factors determine the price of your company, how this value is determined and how you can anticipate this in time for the best deal price as an end result.

Determining the value of your company: cash flows, business model and risks
First of all, let’s say that determining the asking price of your company is not an exact science. Nor is it an accounting sum of numbers on the balance sheet and in the profit and loss account. So what is it based on?

The basis for the value of a company is its cash generating capacity. And not profits. A company that, in addition to depreciation, also has to invest the profit each year in new machinery and stock has no value in the perspective of constant exploitation.

To calculate the value, we use the so-called Discounted Cash Flow (DCF) Method, by which future cash flows, taking into account the risk profile of the company, lead to the value outcome. In the assessment of future cash flows and risk profile, the quality of the business model plays an important role. The following aspects spring to mind:

Is your business model based on hours or products?
Does your company have long-term contracts?
What is the Customer Lifetime Value of your customers?
What are the market developments in your sector?
To what extent is your business scalable with a view to the future?
What are specific risks and dependencies?
What development opportunities has the company developed for the future?

These are partly subjective assessments that may be judged differently by a buyer. This difference in assessment can cause a discrepancy between your personal perception of a price and the perception of the potential buyers. Our experience shows that more than half of the entrepreneurs overestimate the value of their business. With the help of an acquisition specialist, you can formulate a realistic and market-based price range in proper consultation.

That many times EBITDA?
In offers and negotiations the price is often expressed in ‘so many times the EBITDA’, also called a multiple in the takeover world. The Multiple is therefore the denominator by which EBITDA is multiplied to arrive at the rough company valuation. For a Multiple of 6 with an EBITDA of €1.5 million the enterprise value is thus around €9 million. Multiples are derived from databases of comparable transactions, but in practice not enough is known about the transactions to make a proper comparison: were the circumstances similar? Was the buyer comparable? Is the company really comparable to the company in this transaction? Multiples are company and transaction specific and companies are difficult to compare. The EBITDA method takes too little account of company-specific factors. For example, a relatively small software company in a fast-growing market can easily be worth 10 to 15 times the EBITDA. And for a larger company with fewer growth opportunities, a lower Multiple of 4 to 5 might just apply.
In addition, the EBITDA is not useful in many industries, for example companies with high investment needs, where EBITDA is reduced by investments.
EBITDA is therefore too imprecise for a good value indication, but in some cases it can be used as a rule of thumb.

Dealbreakers and price reducers with negative effect on the sales price
Dealbreakers are issues that can frustrate negotiations. Examples are the right of a major customer to terminate the contract in the event of a change of ownership, a patent infringement or the absence of a non-competition clause in the case of some key employees. Our experience shows that this does happen often.

Price reducers are elements that weigh heavily on the side of potential buyers when considering the price. They include, for example, the high degree of dependence on a few important customers. Or the inability of the buyer to deliver critical business data due to poorly designed systems. But of course, the unexpected deterioration of business results during the sales process can also be a deal-breaker.

Influencing the value of your company yourself?
As an entrepreneur, you would do well to start thinking in good time about value drivers, dealbreakers and price reducers. A complete insight into these factors is the first step towards preparing your company for sale.

Discover how you can influence the valuation of your company here the E-book (in Dutch).

Startup Nijmegen

StartUp Nijmegen offers a great electric sit-stand workplace with air conditioning for entrepreneurs. We also help you to realise your entrepreneurial ambitions! You will work in an energetic environment with an entrepreneurial spirit. Would you like to experience it for yourself? Sign up for a free trial sitting day!

StartUp Nijmegen is the success formula for starting entrepreneurs. With: boost programme, workplace (24/7), fellow entrepreneurs, Wi-Fi, meeting rooms, air conditioning, help with administration, tax advice, support in structure and rhythm of working days and a large network. It is much more than just a workplace. It is the place for and by entrepreneurs where meeting, growing and connecting is key.

More information.

Kadans Science Partner

Kadans Science Partner focuses on the development and operation of industrial and office buildings, in combination with laboratories, cleanrooms, research facilities, climate-controlled spaces and pilot plants for R&D departments of knowledge institutions, education institutes and knowledge-intensive businesses in innovative (top) sectors, such as Food, Life Sciences, Health, Living Environment, Biotechnology, Biobased and High-Tech Semicon.

Kadans Science Partner is uniquely familiar with the needs of innovative organisations and knows how to translate these into profitable, high-quality and sustainable facilities, an optimal positioning of spaces, perfect gross-net ratios (functional floor area) and the ideal layout of, e.g., laboratories.

In Europe, also in Nijmegen, Kadans develops, finances and manages real estate for individual tenants and multitenant science buildings. Contact us if you want to know more!

Radboudumc

Radboudumc has several offices and laboratory spaces for startups in Life sciences & Health. These facilities are ideal for those startups who wish to be close to Radboudumc. The start up is facilitated in growing from idea and business plan to a real company, and to innovate in collaboration with Radboudumc. Through SMB Life Sciences (a 100% daughter company of Radboudumc) special prices are offered as well as the support from Briskr Health & High Tech Generator.

For more information on the SMB/Radboudumc workspaces, contact Martien Kriens (06 43 08 83 38) or John van Sambeek (06 51 45 08 27).

Science Park

Nijmegen is a continuously developing Health and High Tech ecosystem, with many possibilities to establish your business. Would you like to join our ecosystem? Check out the location possibilities in Nijmegen and contact us if you want to know more!

On the campus of the Radboud University there are several high quality research facilities, innovation labs and offices for companies which like to cooperate with the university. Their Place-to-Be is Technology & Science Park Nijmegen: 4 buildings – in total more than 25.000 m2 – on the university campus with high level facilities and modern offices for innovative and science based companies, large and small, startups as well as grownups.

Noviotech Campus

Knowledge, business and innovation come together at Noviotech Campus in Nijmegen. The campus offers state-of-the-art research infrastructure and accommodation for entrepreneurs and researchers in the Life Sciences, Health and High Tech sectors. Over 70 companies, that provide work for 3.400+ employees, create a Health and High Tech network, called Noviotech Campus. The Dutch Top-sector Chemistry organization awarded Noviotech Campus with the iLAB status (InnovationLab), as an appreciation for the quality of support and facilities offered.

Look back at Briskr workshop Venture Capital

From PhD-student to experienced entrepreneurs, the group of participants in the workshop ‘How to attract capital Investment for your innovation in Health/HighTech’ on February 3 was very diverse. Speaker Thijs Cohen Tervaert, investor and director at INKEF Capital informed us he was trained a medical doctor, but never practiced as one. He now helps organisations in healthcare and pharma to co-fund.

He explained the role of venture capital, the criteria used in selecting the right investments and how even early on in your startup you can prepare for these.

In healthcare you need a longer investment horizon to actually start up a company and make it successful. To make the product market-ready you need the help from hospitals, do clinical studies and find partners in innovation.

Nowadays, Digital Health is high on the agenda. Healthcare and technology have a lot of potential as a combined sector with many beautiful and innovative applications that can improve cure and care.

On the basis of several practical cases, it became clear how INKEF can help to finance and develop the company. We learned that venture capital can take place in different stages of a company, or even in certain focus areas.

At the end of the workshop there was an interesting discussion among the participants how to attract venture capital for their organisation or idea.

We look back on yet another successful workshop from INKEF and Briskr.

Health Valley: Lessons learned on digital care in times of corona

Commissioned by the province of Overijssel and together with the lectureship ICT innovations in Care of Hogeschool Windesheim, Health Valley conducted a study into the applications of digitisation in care and its acceleration by corona. What have we learned from corona and what can we retain from it after corona? These questions were put to innovation managers in hospitals, care for the elderly, care for the disabled and home care. The lessons learned are compiled on the website: www.innovatiemanagerindezorg.nl.

Not only did healthcare organisations accelerate the introduction of eHealth during the pandemic; the acceptance and adaptation by users also increased because digital solutions proved to be very useful. The project ‘Learning from Corona’ mapped out the lessons learned and how they can be used to make sustainable use of eHealth applications after the pandemic. After all, at some point citizens – patients and clients – will start asking ‘can it be done digitally’?

Lessons learned bundled together
Jolanda van Til, lecturer-researcher at Windesheim: “When the province also seemed interested in the question, we turned it into a project and quickly got to work. We interviewed fourteen innovation managers, did a lot of desk research and finally held two group sessions; meetings with the interviewees to explore the themes and findings in greater depth.” Meanwhile, the most important results of the research, clustered around eight themes, are on the website www.innovatiemanagerindezorg.nl.

Corine Böhmers, innovation manager at Health Valley and also involved in the study: “On this website, innovation managers find all kinds of starting points for implementing and speeding up digital solutions. A wealth of information and an incentive to share knowledge.

There is already a lot; make use of it
And that is perhaps the most important result of the study: sharing knowledge, Corine says: “You don’t have to invent the wheel yourself. There are already many step-by-step plans and programmes. You can find them on the website. Look carefully at what is already there and use it to your advantage. Corona has given video-calling an enormous boost. We will probably see some reversal of this later, but hybrid working is here to stay. Look at your neighbours and see how they organise things, and take over what you can use.

Jolanda adds: “During the research and in the group discussions, we already saw a kind of fellow sufferer contact develop. That is very important. The role of innovation manager can be very lonely. Know that exactly the same developments are being worked on elsewhere and learn from each other. The website now offers a wonderful platform for that.”

The Ins and Outs of Outsourcing for Startups

No matter how transformational your science is nor how robust your funding, your innovation may never make a difference in peoples’ lives without the right team to make it happen. Startups may consider different models of gaining access to expertise and skills, while at the same time remaining lean and agile. They might hire contractors, consultants or freelancers for specific tasks, or they might outsource a project or function to an external supplier altogether. In other words, they may consider a contingent workforce that allows performance on demand.

How do you choose the appropriate outsourcing model for each activity, considering your company ambitions, culture and structure? And how does this change over time?

This Johnson & Johnson Innovation webinar aims to guide you through some principal considerations for developing an outsourcing strategy that might fit your company needs. After a general introduction by 2 Bridge, several guest speakers will discuss what they consider to be critical success factors for growing your business, as well as elaborate on how you might tailor your outsourcing model to fit your needs. Further, the speakers will share insights on how to consider the balance between internal employees on your payroll on the one hand and external contractors and suppliers on the other.

With this webinar we aim to give life sciences entrepreneurs valuable insights and considerations into creating a balanced team of employees and contingent workers.

More information and sign up.