Cortex Ventures
creates successful software companies.
Finding the talent and technology
Cortex Ventures continuously scans the market
for potential unexploited technologies and unique talent.
The primary targets are (1) developing markets with an advanced
education system and undeveloped business culture, but without
business and financial services infrastructure and know-how.
Other sources of activity include (2) focused technology spin-offs
from larger organizations, (3) research groups within universities
and research institutes, (4) open source projects, (5) products
and technologies resulting from free-time activity.
We require an existing activity on which
to base the start-up company. The activity can be in the form
of an existing company, a research project, a free-time activity,
or similar activity amongst the key people of the company
to be established.
Venture selection criteria
Cortex Ventures has the highest criteria
for investments and cooperation:
#1 Unique talent
The accessible pool of key people needs
to be unique and world-class and there must be tangible evidence
of that from the existing or previous activities of the group.
#2 Existing technology
There must be an existing technology that
offers a measurable and sustainable competitive advantage.
#3 Existing user base
The technology must already be in use in
one form or other.
Creating the business plan
The founders and entrepreneurs work together
with Cortex Ventures to create the business plan. The division
of responsibility depends on the previous business experience
of the founders. We provide our experience to ensure that
the plan is investment grade and fulfils the expectations
of professional seed investors in all aspects.
Selecting investors
The founders and Cortex Ventures select
the investors to present the investment case to. The investors
can include both private investors and institutional investors.
Upon successful completion of negotiations, one or more investors
will provide seed-funding for the company.
Performing due diligence
Cortex Ventures participates in a due diligence
program in co-operation with the investors according to the
preference of each investor. In some cases, the entire due
diligence program can be managed by Cortex Ventures.
Setting up the company
Cortex Ventures sets up the company, takes
care of the transfer of assets and IPRs. All necessary legal
aspects are carefully considered to protect the future value
of the company.
Creating an operations plan
Cortex Ventures creates an initial operations
plan together with the founders. The operations plan is more
detailed than the business plan and consists of a complete
list of activities and tasks for the first 3-6 months of business
operations.
Establishing basic processes and
company infrastructure
Cortex Ventures draws on its accumulated
experience and know-how of working company infrastructure
and processes. This vastly accelerates the company build-up,
helps to avoid costly mistakes and allows the founders to
focus on their core competence.
Managing the business
Cortex Ventures assigns experienced software
business professionals to one or more of the key executive
positions of the start-up. Typically this includes the CEO
as a minimum. This offers the company and the founders the
best available execution capability from the very beginning.
Mentoring the founders and recruiting
the management
Cortex Ventures mentors the founders to
prepare them for the full responsibility of steering the company.
The management services provided by Cortex Ventures are used
to ensure successful execution until the founders, and in
some cases the management recruited from outside of the company,
are ready to be phased in.
Securing further investments
Cortex Ventures, together with founders
and investors, seeks further funding according to the needs
of the company development.
Exit
Cortex Ventures seeks an exit for its holdings
in the portfolio companies either through a sale of the company
to an industrial buyer or though an IPO. The targeted exit
is a maximum of 3-5 years from starting of the business.
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