In October we participated in Sarajevo Unlimited, the first regional forum on innovation, entrepreneurship and technology. The event brought 500 people from the region, and also included the startup battle competition where 23 startups delivered their pitches to the jury where SCV was represented by our Investment Manager Pedja Predin.
6 startups were in the finals: eAgrar, Farm Fit, Zoundark, AgriOx, Vault Nano and 2ndMum – FarmFit (IOT device for cattle) was the winner and got 2500 EUR prize from BH Telecom.
In addition, there were also mentoring sessions as well as various panels, where Pedja Predin was also a speaker on the panel Startups Dos and Don’ts.
Highlighted SCV insight from the panel:
One of the main questions on a panel was how investors are engaging with portfolio companies after investments. To fully cover the answer to this topic we have divided the response from the stage into four main points that Pedja made regarding the work of South Central Ventures with portfolio companies:
- There has to be some agreement on the rights and obligations for companies and investors. There are different levels of support – the traditional VC model where investors provide very limited support has been broken. The best example is Andreessen Horowitz which in the last 10 years really focused on providing valuable non-financial support and now all VCs are trying to differentiate on this.
- We work very closely with companies, but our involvement really varies on the stage of investment, the maturity of the team and other elements.
- We do try to help with sales, marketing, connections, product, thinking about finance, cap table, and investor introductions for the next rounds. However, the founder is in the driving seat and we are just enablers.
- We do expect to be part of all major decisions that the company makes but we do not want to block them in the growth.