www.pwc.com
PwC CTI
Accelerating Russian
companies to become
global leaders
28 May 2012
Международная сеть фирм PwC
What is PwC?
158 countries
• Offices in 771 cities worldwide
• 419 Fortune 500
• Active in
companies are our clients
Over
168,000
employees
PwC
Worldwide gross revenues of
PwC’s network of firms increased
in FY2011
USD
29.2
billion
PwC in Russia
1913 and reestablished its presence here in 1989
• PwC first entered Russia in
• Over
•
2,000 employees
8 offices in Russia – Moscow, St Petersburg,
Ekaterinburg, Kazan, Novosibirsk, Krasnodar,
Yuzhno-Sakhalinsk, Vladikavkaz
PwC
For more than 20 years,
Russian companies have
benefited from our global
knowledge and the
professional experience of our
people in Russia and abroad.
PwC CTI - Center for Technology and Innovation
Skolkovo
and
Institutes
of
development
Federal & local
governments
Start-ups
CTI
• PwC CTI was founded in
2009
2011
• In October
office
at Digital October was
opened
PwC
State
owned
companies
Venture
Capital
Multinationals
Our Mission
We believe this world is driven by entrepreneurs - bright people with a
bold vision, high energy and strong determination to change the world
by bringing innovative ideas to life
Our mission is to help young innovative companies achieve
their vision and become technology market leaders, serving
them as advisors through their early days to market success
PwC
5
CTI team
Vasily
Davydov,
Tax
Anna
Akimova,
Advisory
PwC
Tatiana
Florina,
Marketing
Mark
Hannye
Tim
Nicolle
Natalia
Milchakova
Anton
Abashkin,
CTI Advisory
Ekaterina
Terentieva,
CTI Assurance
Olga
Menshikova,
Advisory
Lyudmila
Fedchenko,
Advisory
Petr
Babarykin,
Legal
Natalia
Rodionova,
Advisory
Ekaterina
Shapochka,
Consulting
Yulia
Eybogina,
Advisory
Our Approach
Seed
Grants, Angels
Series “A” Round
VC
Series “B-D”
VC, PE
Expansion,
Growth
IPO/Exit
Market
Leadership
First market
traction
Idea, prototype
PwC CTI Offer:
Open Seminars
PwC Startup Cloud
PwC
“Growth” program:
• Roadmap
• Mentorship
• Access to PwC Network
Emerging company
services:
• Raising finance
• Developing business
• Accessing global markets
• Audit, tax and legal
Mature companies
services:
• Audit, tax, legal
• Business Consulting
• Deals
7
www.pwcaccelerator.com
PwC Accelerator in
Luxembourg
Let us help you enter the
World’s Biggest Market
Agenda
1
2
3
4
PwC
Introduction to PwC's Accelerator
Selection Criteria
Why start from Luxembourg?
Our Key People
Appendix
PwC’s Accelerator “Mission statement”
Assist fast growing companies address the
European market without having it to spread its
management too thin and without having it over
investing its precious cash
PwC's Accelerator
Section 1
Introduction to PwC's Accelerator
PwC's Accelerator “Dynamic Community”
Methodology
and
competences
(PwC’s
Accelerator &
PwC Network)
Venture Capital
firms
Corporates
Companies being
« accelerated »
by PwC’s
Accelerator
Role model
entrepreneurs
PwC's Accelerator
Top
Universities
(PwC’s worldwide
network)
PwC’s Accelerator services
Corporate
Structuring
Office
Facilities
Services
International
M&A
Fundraising at
a global level
Team
Building
(HR Services)
PwC's Accelerator
International
Development
(International Sub
setups)
In a nutshell, PwC’s Accelerator offers Luxembourg
as an entry point from which to radiate towards
the rest of Europe Netherlands Scandinavia Baltic States
U.K.
Germany
France
Eastern Europe
Mediterranean
Countries
Switzerland
Spain
Morocco
PwC
Italy
PwC’s Accelerator “a networking community”
Content
Frequency
“Local to Global”
Expo events
• Opportunity to a floor of savvy followed possibly by one-toone meetings.
• Industry and market insight
Semi-annually
Plug and Play events
in Silicon Valley
• One to One meeting with VCs, Corporate in Luxembourg
• Video conference with Silicon Valley
Quarterly
Other PwC’s
Accelerator event
• Key notes speakers on industry
• Lunch & Learn events, diner and cocktails, etc
Quarterly
All clients of PwC’s Accelerator become a Member of our
community. Membership gives access to a panel of events in
order to favour business networking and provide thorough
insight on industry hot topics
PwC's Accelerator
Section 2
Selection Criteria for PwC’s
Accelerator
PwC’s Accelerator is focused on the “Growth” stage
6
Stage of
development
Sales evolution
Incubation
Acceleration
Maturity
5
1
Concept
PwC's Accelerator
2
Technical
Risk
Stage
3
4
Market Market Traction
Risk Stage (Growing Sales
Pipeline)
Implementation Risk
Stage
(Extensive hiring,
investments and
International
Expansion)
IPO or
M&A
PwC’s Accelerator “Industrial Focus”
Smart technologies
Digital Life
Social networking, Gaming, Datanomics, Infrastructures, New
Financial Services models, etc.
Mobility
Infrastructure & Telecoms, Software applications, Payment,
Automotive technologies, etc.
Cloud
Consumer internet, Enterprises 2.0, Data storage, SaaS, etc.
Health and well
being
PwC
Ecotechnologies, Smart grid, Innovative energy, Innovative
material and processes, etc.
E-Health, Diagnostics, Bio IT, Medical device, etc.
PwC’s Accelerator “Company Characteristics”
Obvious Need to be Accelerated
• Significant Sales Pipeline that now need to be executed
• Need to put “feet on the ground” and go sell the product/service
Finance
•Looking for significant funding needs (typically from €10M to €25M)
• Looking for a geographically diversified capital structure
Technology
•High differentiation of the technology and/or know-how (protected IP)
•Technology validated by large recognizable corporate customers
Management
•First class management team in place and high quality board
•Keenness of the management team to become a global company
PwC
Section 3
Why Luxembourg?
Why Luxembourg is the preferred location for fast
growing companies
• Preferred location for many
international fast growing companies
Many Californian tech companies selected Luxembourg for
their European HQ: easy, fast, stable, neutral, international...
European market
70% of the 500+ million customer base within 1 hour flight
• One of the best IT infrastructure
Luxembourg is fully fiber optic connected with world class
state-of-the-art data centers.
• Neutral location from which to export
into the rest of Europe
Luxembourg is quite unique in Europe as it can easily be the
selling point for services and products for neighbouring
countries such as France, Germany, Belgium, Netherlands,
Switzerland, etc...
• Access to a young and well qualified
European pool of talents
Very competitive pool of talents, generally at least tri-lingual
(French, German and English), one of the lowest
unemployment rate in Europe.
40% of the EU GDP
70% of the EU GDP
PwC's Accelerator
A competitive Total Tax Rate
Source: Total Tax Rate / TTR: cost of all taxes borne including labour taxes, social security, property taxes,
indirect taxes, environmental taxes…
Source: “Paying Taxes 2011”, World Bank, International Finance Corporation, PricewaterhouseCoopers
PwC
Luxembourg value proposition for ICT /
e-commerce players
E-commerce tax advantages
• Lowest standard VAT rate in Europe (15%) as well as
reduced rates available for specific products and
services (12%, 6%, 3%) – e.g., for broadcasting
services = 3%
E-commerce players in Luxembourg
Leading companies – not exhaustive
European headquarters
• Under current rules, electronically supplied services
in B2C transactions are subject to the VAT rates
where supplier located > located in Lux. = 15%
European headquarters
• Current rules remain applicable until 1 January 2015,
allowing a net decrease of margin / customer price if
supplier located in Luxembourg
Other specific advantages
•
Cutting edge digital infrastructures
•
Excellent research in Security
•
Confidentiality
And many more: BigPoint,
OnLive, Zynga, Nexon
Kabam, Big Fish …
PwC's Accelerator
Headquarters customer base
in Europe
European headquarters
European headquarters
(with a new banking license)
Who else has Luxembourg as their European
headquarters?
Key international players having strategic operations in Luxembourg
Leading companies – not exhaustive
Worldwide headquarters
PwC
Large scale fund
administration & custody
European headquarters
Headquarters customer base
in Europe
Corporate bank for European
activities
European business centre
Worldwide headquarters
(Europe’s global telecommunication
satellite operator)
Global Procurement Center
in Luxembourg
New global headquarters of
its Powertrain division
Centre of excellence in funds
administration & custody
Production site and Research
Centre (2nd in the World after
the US one )
Investment banking and Private
banking
Section 4
PwC Accelerator Team
All of PwC’s Accelerator’s Service Offering is performed by
PwC’s highly specialized team & core competencies
Alexandre Rhea
Partner & CEO PwC’sAccelerator
Laurent Probst
Partner & Leader R&D and Innovation
PwC’s Accelerator
Fund Raising
Jean-François Kroonen
Corporate
Christophe Loly
Structuring
Human
Christian Scharff
Resources
IT
Services
Access to PwC network: Latin America, India, Asia, Europe, US, Middle East, Russia…
PwC’s Accelerator is able to offer, monitor and coordinate for the benefit of its clients
what PwC is used to provide to large corporate clients
PwC’s Accelerator • Local to Global
PwC
15
Conclusion: PwC’s Accelerator is your Fast track
to European clients
Your one-stop-shop in Luxembourg to:
Access to all of PwC’s network in Europe
Access to EU based resources
Access to EU partners
Access to EU funding
PwC
Your main contacts
Anton Abashkin
PwC Russia
Leader of CTI Advisory
[email protected]
(+352) 49 48 48 25 64
Alexandre Rhea
Partner at PwC Luxembourg
CEO of PwC's Accelerator
[email protected]
(+352) 49 48 48 66 01
For further information please visit us at:
www.pwc.ru/cti
www.pwcaccelerator.com
© 2012 PwC’s Accelerator S.à r.l.. All rights reserved. PwC refers to the
Luxembourg member firm, and may sometimes refer to the PwC network. Each
member firm is a separate legal entity. Please see www.pwc.com/structure for
further details.
PwC's Accelerator
Thank you!
www.pwc.ru/cti
© 2012 PwC. All rights reserved.
“PwC” refers jointly to ZAO PricewaterhouseCoopers Audit, PricewaterhouseCoopers Russia B.V. and Representative Office of PricewaterhouseCoopers
Legal CIS B.V. or, as the context requires, other member firms of PricewaterhouseCoopers International Limited(PwCIL). Each member firm is a separate
legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or
liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way. No
member firm is responsible or liable for the acts or omissions of any other member firm nor can it control the exercise of another member firm’s
professional judgment or bind another member firm or PwCIL in any way.