TechCrunch+ roundup: South Korea investor survey, 1-hour board conferences, enterprise leasing fundamentals

After gross sales software program startup TigerEye closed its Collection A and established a board of administrators, its co-founders put them on discover:

One factor we’d wish to by no means do is the three-hour, too-in-the-weeds, non-strategic board assembly.

“Each board deck I’ve made and seen is greater than 80 pages lengthy,” says Tracy Younger, co-founder and CEO of TigerEye. “I’m not exaggerating.”

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On this TC+ article, she explains how one can construction a one-hour board assembly that creates actual worth for founders and buyers. The first step: substitute your huge deck with a three-page memo.

We’re taking Monday, Could 29 off to have a good time Memorial Day, so I’ll be again with one other TC+ roundup every week from immediately.

Have a incredible weekend!

Walter Thompson
Editorial Supervisor, TechCrunch+
@yourprotagonist

Why aren’t enterprise capitalists flocking to fund cybersecurity startups?

The accelerated shift to digital has been nice for mature cybersecurity firms: Palo Alto Networks, Scaler and CrowdStrike are exhibiting robust income multiples, studies Alex Wilhelm.

However there doesn’t seem like a halo impact for venture-backed cybersecurity startups. In accordance with Crunchbase, funding for firms on this sector fell 58% in Q1 2023 in comparison with Q1 2022.

“Provided that valuations are down throughout the board, immediately’s cybersecurity fairness costs have been dramatically depressed, even when they continue to be costlier than different tech subcategories,” writes Alex.

Profitability over development: 5 buyers clarify their mantra for South Korean startups

Picture Credit: Bryce Durbin / TechCrunch

South Korea noticed a unicorn growth lately, however like the remainder of the world, it’s feeling the impacts of a world market correction.

“Enterprise funding in Asia within the first quarter of 2023 declined 33% from This autumn 2023 and 57% from Q1 2022,” studies Kate Park, who surveyed 5 buyers to get their predictions for 2023 and learn the way they’re advising their portfolio firms:

• Han Kim, normal accomplice, Altos Ventures
• Tim Chae, managing accomplice, 500 World
• JP Lee, CEO and managing accomplice, SoftBank Ventures Asia
• Yeemin Chung, managing director, BRV Capital Administration
• Eunse Lee, founder and managing accomplice, 541 Ventures

Ask Sophie: What are my choices if an organization rescinds my OPT job provide?

Picture Credit: Bryce Durbin/TechCrunch

Pricey Sophie,

I’m a world pupil graduating this month, however the firm I used to be supposed to begin working for on OPT has rescinded my job provide.

What are my choices?

— Grappling Grad

3 issues companies should do to safe their purposes within the AI period

Picture Credit: Henrik Sorensen (opens in a brand new window) / Getty Photos

Corporations with AI-enabled purposes give unhealthy actors a broader assault floor relating to phishing, bots and different makes an attempt to entry buyer accounts.

“We’re already seeing examples of reverse engineering AI-powered websites to get free AI computing,” says Reed McGinley-Stempel, co-founder and CEO of Stych, a buyer identification and entry administration (CIAM) platform.

Enterprise leasing: The unsung hero for {hardware} startups struggling to boost capital

Picture Credit: bagi1998 (opens in a brand new window) / Getty Photos

{Hardware} startups have at all times been challenged relating to excessive preliminary capital expenditures and open-ended R&D timelines.

Fortuitously, enterprise leasing creates “a contented medium between pricey debt loans and VC funding that works notably nicely,” says Felipe Chávez Cortés, CEO and co-founder of robotic meals supply agency Kiwibot.

To carry merchandise to market quicker whereas avoiding dilution, his firm closed a $10M enterprise leasing deal.

“{Hardware} firms shouldn’t really feel restricted to VC funds to finance their high-risk, high-growth operations,” in line with Cortés.

Pitch Deck Teardown: Faye’s $10M Collection A deck

Picture Credit: Faye

Insurtech startup Faye shared a redacted model of the 19-slide deck its founders used to land a $10M Collection A spherical.

“Let’s get this out of the best way proper off the bat,” says Haje Jan Kamps. “It is a really glorious pitch deck.”

• Cowl slide
• Abstract slide
• Staff slide
• Downside slide
• Market-size slide
• Insurance coverage market overview slide
• Product overview slide
• Product options slide 1
• Product options slide 2
• Product options slide 3
• Product options slide 4
• Go-to-market slide
• Monetary development metrics slide
• Buyer development metrics slide
• Buyer validation slide 1
• Aggressive panorama slide
• The Ask slide
• Buyer validation slide 2
• Closing slide with mission assertion