Networking skills: fun and best practices

Yesterday Mercator Launch and Briskr organised the annual Networking Skills workshop with Frank Stofmeel. This is a fun & hands-on workshop which is very useful for both experienced and inexperienced networkers.

We started off with sharpening our introduction. By trying out in 1 minute, 30 seconds and 10 seconds we learned the key words to stand out from the rest. We then learned how to break into a conversation during networking time, and also how to do that when you are an English speaker and the conversation is in Dutch! Of course, we also learned how to assess whether a conversation is really interesting, whether you have something to gain from each other, and if not, how to subtly get out of the conversation. Or to round up a conversation with a follow-up (coffee, call).

It was great to practise in a ‘safe’ setting and receive customized tips from both Frank and the other entrepreneurs! We look back on a very useful and fun workshop. Thank you for your enthusiasm & inspiration Frank Stofmeel! See you next year!

BANN brings start-ups and investors closer together

The Business Angels Network Nijmegen (BANN) organised a meeting on March 8th. The network, set up a few years ago by Briskr, Oost NL, the municipality of Nijmegen, Rabobank and The Economic Board, is increasingly successful in connecting start-ups and scale-ups with investors. The two initiators, Martijn Kriens from Briskr and Bart Heuts from Oost NL, explain why.

No ATM
“A few years ago we started with the Business Angels Network Nijmegen”, Martijn Kriens, program manager at Briskr, begins his explanation. “You can support start-ups in all sorts of ways and this was happening in the region with knowledge and with loans as funding for the early phase. But there was still a lack of risk capital. That is why we started the Business Angels Network. Angels (potential investors, ed.) are very important for start-ups because of their knowledge and experience.”

Bart Heuts, project manager at Oost NL, adds: “Angels are generally prepared to invest amounts of between 50,000 and 250,000 euros in a company to which they often want to actively contribute themselves with both money and knowledge. The latter is very important; angels are not ATMs. They are all former entrepreneurs with a large network and a lot of entrepreneurial experience that they are happy to share.”

After Rabobank, other companies such as BDO and Poelmann Van den Broek soon joined as supporting partners. Through the network of Oost NL in particular, there are about 150 business angels. The network holds a meeting three times a year at which four start-ups or scale-ups are given a pitch each time.

Read the full article on the website of Lifeport (in Dutch).

New partnership: Brilliant Work

Today, Briskr and Brilliant Work announce a new partnership whereby Brilliant Work will provide support to Briskr start-ups and SMEs towards successful growth. Briskr is a consortium in the Nijmegen area with the aim of helping start-ups and innovative SME’s grow faster and make more impact in the Life Sciences & Health and High Tech sectors. Briskr believes that interaction between knowledge-intensive companies and knowledge institutes, such as universities and government bodies, is essential to realising innovation. Briskr operates in three areas – business support, project and program development for innovation activities and acquisition of innovative companies. In order to support start ups and innovative entrepreneurs, Briskr has brought together a network of companies able and willing to support these innovative companies in their growth.

Brilliant Work is an award winning business coaching, consultancy and training firm, specialised in helping small to medium sized companies grow and professionalise, both on a national and international scale. Most of their coaching engagements are on a subsidised basis, making it very affordable for their clients. Setting up, growing and leading a business is not easy, and Brilliant Work is there to help entrepreneurs and managers to make it easier, more enjoyable and reach their goals faster.

Brilliant Work is a great addition to the list of supporting partners of Briskr. Their expertise and drive in sales and entrepreneurship will help innovative companies in the Nijmegen area. With this addition we expect to further advance the startup eco system in the Nijmegen Area.

Martijn Kriens, program manager of Briskr: “We are happy that Brilliant Work is willing to join our network of services for startups. Broad support in sales and entrepreneurship is often important for startups. Brilliant Work has shown in the past to be able to help focus startups on growth. With the partnership with Brilliant Work we formlize and give shape to our cooperation in this field.”

Lizanne Jakobs, founder of Brilliant Work: “This new partnership is a very positive step foward. For businesses in life science, health and high tech, entrepreneurs have to juggle so many aspects of running a complex company at once. The Dutch eco system is there to help support them, but is not always easy to navigate. By joining forces with Briskr, we are thrilled to fortify the amazing all round support they offer as a consortium, locally, with the right people at the right time.”  

Look back: How2Finance

Yesterday morning we gathered early for the breakfast session on #How2Finance.
A large group of startups and entrepreneurs listened to various experts from Oost NL, Orion, Rabobank, Oneplanetcrowd, Netherlands Enterprise Agency (RVO) and Briskr who elaborated on a solid life cycle funding; Which options on financing can be used in different phases of the development of a company?
We then offered various rounds of speed dating with the experts so entrepreneurs could discuss their individual case. In the meantime we enjoyed the networking, drinks and bites.
We look back on a dynamic event with enthusiastic entrepreneurs that we can hopefully help grow their businesses in the near future.

BANN event 8 March

Business Angels Network Nijmegen is the network of informal investors that strengthens the ecosystem of Nijmegen start-ups and scale-ups.

The network brings these business angels and the start-ups and scale-ups together on a regular basis. On 8 March the following four start-ups were allowed to pitch: HomEvap, XHEAL Dx, LumiNose and SPL Medical. 

Read more about BANN.

Call for proposals HTA methodology – round 1

Medical innovations are constantly being developed in order to provide better care. The discipline Health Technology Assessment (HTA) offers methodology for assessing the (added) value of medical innovations. The (further) development of HTA methodology contributes to making adequately considered decisions.

Subsidy for (further) development of HTA methodology
The purpose of this grant is to develop or improve the methodology for conducting an HTA in the field of medical technology; so that stakeholders can better assess the (added) value and make better decisions about appropriate use, efficient procurement of care and/or package management.

Since 18 February 2022 the subsidy call HTA methodology, round 1 is open. The deadline for submitting an application is 19 April 2022, 14.00 hours.

More information. (in Dutch)

Voucher helps SMEs seize online business opportunities

Students of the Digitale Werkplaats Arnhem Nijmegen, DWAN, help SMEs with advice on online marketing, website optimisation, online findability and more, so that the organisation can take steps to boost productivity and profit and work on future-proofing. Entrepreneurs can download the SME voucher via the DWAN website and make free use of the online session with students from the MBO, HBO and WO.

Members of the Lindus business association attended the CS in 2021 and see the added value according to the online member magazine (p. 27).
Investment and result online session
With the voucher, the entrepreneur only invests contact moments and receives:

  1. a non-binding intake;
  2. 3-hour online session with max. 5 students under the supervision of professionals;
  3. the advisory report with all ideas and practical advice;
  4. the consultation on the possible implementation of advice by students.

Online session appreciated by entrepreneurs
Since 2020, several entrepreneurs have made use of the online session, including the owner of TIG Academy, which makes online instruction videos about TIG welding for starters and advanced students: “The assignments were good, they make you think in a different way and enlarge your perspective. The interaction with each other generates new ideas, which is not only inspiring, but also gives more direction.”

After the online session, students helped TIG Academy develop the basic communication plan and the Brandbook.


How does the entrepreneur get the voucher?
The SME voucher is for entrepreneurs between 2 and 50 FTE. More information about the voucher and how to download it can be found here. Follow the steps on the voucher and guarantee a place with students. There is a limited number of places available.

Contact
You can mail us: DWAN@han.nl.

Our project officer, Marie-Thérèse, will be happy to help. You can find our website here.

Oost NL is one of the initiators of digital workshops.

Health Valley Event: live again after 3 years

After 3 years, the international Health Valley Event on 15, 16 and 17 March in Nijmegen can finally be visited live again at Pathé and Van der Valk. Every year, the healthcare innovation network of the East Netherlands organises the largest healthcare innovation conference in the Netherlands, connecting the more than 1,200 participants from home and abroad. In 2019, Health Valley Netherlands last organised an edition on location where visitors could meet each other. In March 2020, the event was cancelled last-minute and in 2021 participants could only attend online.

Chris Doomernik, Director of Health Valley: “We are extremely happy to finally be able to organise the event on location again. Now our visitors can connect face-to-face with entrepreneurs and people active in healthcare organisations, knowledge institutions and governments. An important step towards accelerating innovation through the use of technology and thus making tomorrow’s health and care possible, today.”

Plenty of tickets
Given the current flexibilities (the event is a so-called flow location), there are no restrictions on the number of visitors. There are also no restrictions such as testing for entry. Of course, the health of the visitors is paramount and Health Valley advises to follow the advice: wear a mouth mask if required, wash your hands regularly, test before visiting the event and stay at home in case of complaints. Interested parties who cannot or do not wish to attend a live on-site event can use an online ticket.

The Health Valley Event
The Health Valley Event is the largest healthcare innovation conference in the Netherlands. Every year, visitors from the Netherlands and abroad from the health care sector, the business world, research, education and government come together to work on tomorrow’s health and care. At the event, the exchange of knowledge, but also the gaining of inspiration and especially matchmaking are central themes. For this edition, there is a special cooperation with the European (Active & Assisted Living) AAL programme and there will also be extra attention for healthy ageing. More information: www.healthvalleyevent.com.

Governments, education and entrepreneurs join forces in the Arnhem Nijmegen region

Read more in Dutch:

De 18 gemeenten van de Groene Metropoolregio Arnhem-Nijmegen, provincie Gelderland en The Economic Board willen de kracht van de regio beter benutten. De partijen hebben een Bestuursakkoord en een Investeringsagenda opgesteld, waarmee zij zich langdurig inzetten om de regio te versterken. De komende tien jaar moet deze regio doorgroeien tot een internationale topregio in Health, Hightech en Energy, in balans met de groene kwaliteiten.

Gedeputeerde Peter Kerris: ‘De regio Arnhem Nijmegen is het groene hart van de Gelderse economie. Met het bestuursakkoord slaan overheden, onderwijs en ondernemers de handen ineen om de kracht van de regio nog beter te benutten’.

Europese Topregio

De regio wil doorgroeien tot een topregio die economisch tot de best presterende regio’s van Nederland hoort en internationaal bekend staat als dé circulaire regio van Nederland en Europa.

Ahmed Marcouch, voorzitter The Economic Board: ‘We ontwikkelen in onze regio baanbrekende toepassingen op gebied van schone energie, betere zorg, duurzaamheid en sociale Artificial Intelligence. Daarmee kunnen we bijdragen aan de grote maatschappelijke opgaven en tegelijkertijd aan de productiviteit en werkgelegenheid waardoor onze regio een nog aantrekkelijkere plek wordt om te werken en wonen.’

Concreet activiteitenplan

De afspraken om de regio te versterken zijn vastgelegd in het Bestuursakkoord

en de Investeringsagenda Regio Arnhem-Nijmegen 2022. Het is de basis voor langdurig commitment (tien jaar) aan de gezamenlijke ambities. Dit bestuursakkoord vervangt het akkoord dat de gemeente Arnhem, de gemeente Nijmegen en de provincie Gelderland in 2017 hebben ondertekend.

Hubert Bruls, voorzitter van de Groene Metropoolregio Arnhem-Nijmegen: ‘We verheugen ons op de vernieuwde samenwerking. Ik hoop en verwacht dat ook het nieuwe kabinet inzet op onze regio, zodat wij dit allemaal voor elkaar kunnen krijgen. We hebben een visie en een concreet activiteitenplan, maar we hebben het Rijk daar wel bij nodig. Dan kunnen we verder innoveren, gekwalificeerd personeel opleiden, omscholen en aantrekken en de komende jaren 60.000 woningen bouwen met behoud van onze groene omgeving.’ 

Investeringsagenda

In de investeringsagenda maken de Groene Metropoolregio, de provincie en The Economic Board afspraken over hoe zij, zowel financieel als niet-financieel, bijdragen aan de gezamenlijke ambitie voor de regio. Naast financiering voor concrete projecten zetten de deelnemende gemeenten 4 miljoen euro in voor de uitvoering van initiatieven en programma’s. Provincie Gelderland heeft de intentie om deze financiële bijdrage van de gemeenten te verdubbelen. De provincie weegt per initiatief af hoe het project bijdraagt aan de provinciale doelen en bepaalt haar bijdrage aan de hand daarvan. Naast geld zetten de partijen ook tijd en capaciteit in. Met de financiële bijdrage die is opgenomen in de investeringsagenda hoopt men andere partijen te verleiden om ook in deze regio te investeren.

Ondertekening

Het Bestuursakkoord is 3 februari ondertekend bij Connectr in Arnhem door Peter Kerris (Provincie Gelderland), Ahmed Marcouch (The Economic Board) en Hubert Bruls (Groene Metropoolregio).

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).