{"id":551372,"date":"2022-06-13T13:29:59","date_gmt":"2022-06-13T13:29:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/brace-yourselves-startups-2022-may-be-a-bumpy-year\/"},"modified":"2022-06-13T13:29:59","modified_gmt":"2022-06-13T13:29:59","slug":"brace-yourselves-startups-2022-may-be-a-bumpy-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/brace-yourselves-startups-2022-may-be-a-bumpy-year\/","title":{"rendered":"Brace yourselves, startups. 2022 may be a bumpy year"},"content":{"rendered":"

<\/a> Is the party up for startup funding? VC firms tell founders yes: <\/strong>It\u2019s no secret that the VC funding gravy train is slowing down globally with the tech sector\u2019s poor performance<\/a> limiting VCs ability to raise funds, and the fallout dramatically affecting startups. As tech stocks nosedive and the Nasdaq continues to be on track for its second-worst quarter since the 2008 financial crisis, VC firms are warning their company founders that gloomy days<\/a> are in store for the global startup industry.<\/p>\n

Startup investment has been in decline in the first five months of 2022, <\/strong>compared to last year, with the decline starting to be visible in March and April (thanks, Putin). VC funding plummeted 20% and 16.6% y-o-y in March and April respectively, according to a CrunchBase report<\/a>. In May, global VC funding amounted to USD 39 bn, marking a 20% drop compared to the same month in 2021, it adds.<\/p>\n

Global transactions in 2Q2022 are set to reach 6.9k, a 22% drop compared to 2Q2021<\/strong>, according to a report by CB Insights<\/a>.<\/a> Projected investments for 2Q2022 are expected to be 19% lower than 1Q2022, CB\u2019s report notes.<\/p>\n

Inflation and geopolitical conflicts are fueling this trend,<\/strong> with central banks everywhere looking to wind down the covid-era stimulus that fueled valuations. The Federal Reserve\u2019s 50 bps interest rate hike last month<\/a> spurred a massive selloff in equity markets \u2014 including for startups<\/a> \u2014 which continue to haunt us to this day. Lightspeed Venture Partners<\/a>proclaimed in a blog post<\/a> that \u201cthe boom times of the last decade are unambiguously over,\u201d and that many CEOs will face \u201ctrade-offs that only a few months ago would have seemed outlandish or unnecessary.<\/p>\n

A far cry from last year:<\/strong> In 2021, VCs invested more than USD 600 bn in startups \u2014 twice the amount allotted to the industry in 2020, according to Reuters<\/a>.<\/p>\n

And VCs aren\u2019t expecting this trend to reverse anytime soon: <\/strong>Sequoia Capital, acclaimed for early investments in Google<\/a> and Apple<\/a>, detailed in a presentation<\/a> titled \u201cAdapting to Endure\u201d, that the recovery from this economic downturn will be long, compared to previous times of economic turbulence. Y Combinator (YC), the start-up incubator that helped spawn Airbnb<\/a>, told their portfolio founders in an email<\/a> to \u201cplan for the worst.\u201d<\/p>\n

Big-tech is already implementing job cuts and hiring freezes<\/strong>. Snap<\/a>, Facebook<\/a>, and Uber<\/a> have all announced hiring curbs in the coming months, while Robinhood<\/a> and Peloton<\/a>said they\u2019ve cut jobs. Cloud software company Lacework<\/a> recently announced staff layoffs<\/a>, six months after the firm was valued at USD 8.3 bn by VCs.<\/p>\n

The shifting market sentiment is reminiscent of 2008 and somewhat close to the economic fallout of the pandemic in 2020. <\/strong>During the 2008 crisis, Sequoia released a memo entitled R.I.P. Good Times<\/a>, and implored start-ups to cut costs and \u201cbecome cashflow positive.\u201d In a 2020 memo titled Black Swan<\/a>, partners at Sequoia admitted<\/a>to dropping the ball, saying they underestimated \u201cthe monetary and fiscal policy response that followed the pandemic.\u201d \u201cThis time, many of those tools have been exhausted,\u201d the Sequoia partners said in a recent presentation<\/a>.<\/p>\n

The key messages YC and other investors are telling their companies? Forget \u201cgrowth at all costs.\u201d<\/strong> Founders must improve gross margins, curb spending and burn rates, limit hiring, and extend runways for 2+ years as soon as possible. Sequoia warned its companies that if they don\u2019t slash costs, whether that be in marketing, research and development, or other areas, they will risk facing a \u201cdeath spiral.\"<\/a> If you can raise capital from new or existing investors, don\u2019t think twice, YC told its founders.<\/p>\n

What\u2019s next for startups in these times of uncertainty?<\/strong> Founders have to prudently manage their cash flow cycles, reduce burn rates, and plan wisely when it comes to growth.\u201cThe message we wanted to get to founders was that for the best companies, this should be your time to shine, because when it\u2019s easy for everyone to fund-raise and get demand you don\u2019t see as much of the strength of some of the distinctive businesses and teams,\u201d Michelle Bailhe, partner on Sequoia\u2019s growth team, told CNBC.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Is the party up for startup funding? VC firms tell founders yes: It\u2019s no secret that the VC funding gravy train is slowing down globally with the tech sector\u2019s poor performance limiting VCs ability to raise funds, and the fallout dramatically affecting startups. As tech stocks nosedive and the Nasdaq continues to be on track […]<\/p>\n","protected":false},"author":1,"featured_media":551373,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9595],"tags":[633,1528,9133,95,200,9242],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-551372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-whats-next-2","tag-enterprisepm","tag-founder","tag-investor","tag-startup-watch","tag-venture-capital","tag-whats-next","wpautop","entry"],"acf":{"mongo_id":"bba991e8-413d-4ca5-9d74-71a8095ff1c2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/430.jpg","photo_position":"above","related_issue":[551362],"teaser":"","voice_url":""},"yoast_head":"\nBrace yourselves, startups. 2022 may be a bumpy year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/brace-yourselves-startups-2022-may-be-a-bumpy-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brace yourselves, startups. 2022 may be a bumpy year\" \/>\n<meta property=\"og:description\" content=\"Is the party up for startup funding? 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The photo\u2019s\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566265,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/openners-ahmed-elsherif-on-venture-building-what-the-newest-vc-firm-has-under-its-sleeve-for-egypt-and-what-makes-a-startup-venture-backable\/","url_meta":{"origin":551372,"position":3},"title":"Openner\u2019s Ahmed Elsherif on venture building, what the newest VC firm has under its sleeve for Egypt, and what makes a startup \u201cventure-backable\u201d","author":"enterpriseam admin","date":"7 June 2021","format":false,"excerpt":"How US-based Openner is making venture-building a thing in Egypt: Openner, a VC firm with an eye for the region but based in Washington DC, announced last October it\u2019s on the lookout for stakes in as many as 50 tech startups, with USD 5 mn earmarked for Egypt at an\u2026","rel":"","context":"In "Spotlight"","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/443.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583150,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/global-vc-funding-down-43-in-2022\/","url_meta":{"origin":551372,"position":4},"title":"Global VC funding down 43% in 2022","author":"enterpriseam admin","date":"9 February 2023","format":false,"excerpt":"2022: A tough year for startups globally as the CVC funding river dries up. The amount of money deployed in startups by corporate venture capital firms (CVCs) fell 43% to USD 98.9 bn in 2022, as investors scaled back activity on rising borrowing costs and fears of an oncoming recession,\u2026","rel":"","context":"In "STARTUPS"","block_context":{"text":"STARTUPS","link":"https:\/\/enterpriseam.com\/egypt\/category\/startups\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2021\/09\/money-1600-2.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557645,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/27\/blockchain-startup-pravica-raises-funding-from-swiss-vc\/","url_meta":{"origin":551372,"position":5},"title":"Blockchain startup Pravica raises funding from Swiss VC","author":"enterpriseam admin","date":"27 September 2021","format":false,"excerpt":"Egyptian blockchain startup Pravica has received an undisclosed direct investment from Crypto Valley Venture Capital (CV VC), the company announced in a statement yesterday. About Pravica: Founded in 2019, Pravica offers a suite of secure communication software based on a decentralized blockchain network to ensure its users\u2019 data privacy and\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/551372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=551372"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/551372\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/551362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/551373"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=551372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=551372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=551372"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=551372"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=551372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}