McKinsey’s Markus Berger-de León and Jerome Königsfeld sat down with some of Europe’s leading venture capitalists (VCs)—Florian Heinemann, founding partner at Project A Ventures; Christian Saller, ...general partner at HV Capital; Jenny Dreier, investor at EQT Ventures; and Alex von Frankenberg, managing director of High-Tech Gründerfonds—to get their outlook on the next two years and discuss what European incumbents, VCs, and start-ups can do to emerge from these uncertain times stronger than before. pullquote key1 Jerome Königsfeld: What is your outlook for the next two to three years? ...VCs must factor in that large exits will become more difficult to realize in the coming years. ...only start-ups in need of funding currently raise money, and they have become humble with their valuations. pullquote key3 Jerome Königsfeld: Which start-up sectors are enjoying the biggest tailwinds amid the current crises? With reduced media spend across the market, fixed-cost heavy channels, such as TV ads, will come under pressure and may be willing to make highly discounted deals with start-ups.
Overall, four practices stand out: architecture (that is rigorously scalable), operating model (supported by processes that scale), customer insights (that are targeted and applied to product ...development), and talent and performance management (grounded on entrepreneurial talent). Co-create with customers One of the defining root causes for the business’s lack of success in scaling promising minimum viable products (MVPs) was that its software-developer culture demanded technical perfection before launching products to the broader market. ...this business became one of the top three performers in the sector in less than three years. 2. ...a double-digit team built proprietary accounting and billing systems, even though they had no impact on the customer experience and there were already plenty of good options in the marketplace.
Mounier Jean Joseph, Pétion de Villeneuve Jérome, Pison du Galand Alexis François, Bouche Charles-François, Leclerc de Juigné Antoine Éléonore Léon, Laborde de Méréville François Louis Joseph de, ...Boery Guillaume Barthélémy, Boisgelin de Cucé Jean-de-Dieu de, La Rochefoucauld Dominique, cardinal de, Bailly Jean Sylvain, Le Franc de Pompignan Jean-George, Le grand Jérôme, Mirabeau Honoré-Gabriel Riquetti, comte de, Clermont-Tonnerre Stanislas Marie, comte de. Discussion sur la déclaration du cardinal de la Rochefoucauld, lors de la séance du 2 juillet 1789. In: Archives Parlementaires de 1787 à 1860 - Première série (1787-1799) Tome VIII - Du 5 mai 1789 au 15 septembre 1789. Paris : Librairie Administrative P. Dupont, 1875. pp. 182-183.
Le Chapelier Isaac René Guy, Sallé de Chou Etienne François, Target Guy Jean-Baptiste, Démeunier Jean Nicolas, Goupil de Préfeln Guillaume François, Pétion de Villeneuve Jérome, Leclerc de Juigné ...Antoine Éléonore Léon, Duplaquet Charles Vincent, Talleyrand-Périgord Charles Maurice de, Ricard Louis Etienne, La Rochefoucauld Dominique, cardinal de, Mirabeau André Boniface Louis Riqueti, vicomte de, André Antoine Balthazar d', Foucault Pierre Antoine de, Couppé de Kervennou Gabriel, La Rochefoucauld-Liancourt François Alexandre, duc de, Leyris d'Esponchez Antoine Félix. Discussion sur les articles 7 à 11 du projet d'abolition des privilèges, lors de la séance du 11 aout 1789. In: Archives Parlementaires de 1787 à 1860 - Première série (1787-1799) Tome VIII - Du 5 mai 1789 au 15 septembre 1789. Paris : Librairie Administrative P. Dupont, 1875. pp. 394-396.
