Task 1 Listen to the interview with a venture capitalist and do the following exercises. 1) You are going to listen to an interview with Karl, a venture capitalist. How do you think he answers the questions below? What kind of start-up is a venture capital firm looking for?
What role does a venture capitalist have in the management of a start-up?
Suddenly a start-up is bought by a larger company. How do people react? Are they happy?
2) Now listen to the interview and compare your ideas with the real answers. Are these statements true (T) or false (F)? Try to remember what Karl said, then listen again to check. Venture capitalists are usually interested in long-term investment. T/F
When a VC sells a start-up to a larger company, it is called a 'trade sale'. T/F
Venture capitalists are typically interested in firms in the IT and biotech sectors. T/F
In the pharmaceutical sector most start-ups want to become stand-alone companies. T/F
It's easier to take a technology start-up to an IPO in Europe than in America. T/F
Glossary break-through innovation important discovery / hew product
culture shock negative feelings of surprise when people move to a different environment
exit strategy way to end involvement in something
founders people who establish a start-up
growth potential opportunity or ability to get bigger
IPO (Initial Public Offering)process of issuing shares for the
first time (when a privately-owned company becomes listed on
the stock market)
milestones important events in a company's development
road map plan for moving from the present situation towards
one or more key objectives
