Leb Net Board meeting May 5 2018 Housekeeping
Leb. Net Board meeting May 5, 2018
Housekeeping Ø Time is limited and we need to cover a lot Ø Let’s use a “parking lot” list to take things offline Ø Najib is taking notes Ø Lunch will be served at 12 pm (pizza: one Hawaiian, one vegetarian- 4 diet cokes & 3 waters coming) Ø Welcome from the Chairman 2
Item Time (pst) 10: 30 -11: 00 1 11: 00 -12: 00 2 3 4 5 6 7 8 9 9 12: 00 -12: 15 -12: 45 -13: 15 -13: 20 -14: 00 AGENDA: Leb. Net Board meeting 5/5/18 (Hana. Haus Palo Alto) description owner ARRIVAL & coffee orders Ratification: Najib Minutes from last meeting on 12/09/17 Board Election results Modifications to bylaws Discussion on Student board candidature Proposal for positioning ex-directors How do we thank Michelle ? Quick recap of year to date (quarterly update) Financials BREAK & setup for working lunch Leb. Net 1. 0 mitigation plan for exit of exec director Bootstrap fund raising plan for Interim CEO- a discussion BREAK Leb. Net 2. 0 Updated plan review Najib George A. Abdo George A. Fares George A. Elie/Abdo George A. duration 30 min 10 min 10 min 15 min 30 min 5 min 40 min 3
Results of Elections: April 2018 For Ratification Board members 8. Farah Fawaz 9. Fadi Zoghzoghy w 15 Abdo Kadifa George Akiki Najib Khoury-Haddad Fares Mubarak Elie Habib Haddad Habib Kairouz Ne 1. 2. 3. 4. 5. 6. 7. Senior Advisors min 10. TBD- Student Option 11. TBD 12. TBD 13. TBD 14. TBD 15. TBD [Chairman] [President] [Secretary] [Treasurer] 1. 2. 3. 4. 5. 6. George Boutros Magid Abraham Ossama Hassanein Nora Denzel Fouad Tamer George Harik Exiting board members 1. 2. 3. 4. Khaled Nasr Edgar Masri George Skaff Eddy Tabet
PROPOSAL FOR POSITIONING EX-DIRECTORS 5
PROPOSAL Board of Directors 8. Farah Fawaz 9. Fadi Zoghzoghy min 10. TBD 11. TBD 12. TBD 13. TBD 14. TBD 15. TBD D ec 1. 2. 3. 4. 5. 6. is io n George Boutros Magid Abraham Ossama Hassanein Nora Denzel Fouad Tamer George Harik po in t Directors Alumni Ne 15 Abdo Kadifa Elie Habib Najib Khoury-Haddad Fares Mubarak Habib Haddad Habib Kairouz George Akiki w 1. 2. 3. 4. 5. 6. 7. Senior Advisory Board 1. 2. 3. 4. 5. 6. 7. 8. Khaled Nasr, Emeritus Director co-founder Eddy Tabet, Emeritus Director ex-president Edgar Masri George Skaff Nassif Malouf Ra’ed El Murib Cyrille Habis Sami Arayssi
Sr. Advisory Board Directors Alumni (see backup slide for charter) • Highly accomplished • Gravitas • Personal brand raises Leb. Net’s profile in fund raising • Provides valuable advice • Term limits • Yearly meeting • Ex-board members • Contribute to the image of high level contribution to Leb. Net • Leb. Net board will seek their advice on an ad-hoc basis • Recognized on website • Candidates for strategic committees • Ambassadors at regional events • Invited to attend board meetings as observers
Proposed Next steps Ø Exec board agrees to put proposal to vote at board meeting on May 5 th Ø Inform new director alumni and ask for their permission and bios Ø Post on website Ø Sr. Advisory board term expires in Nov 2019 at which time we would thank Nora for her service and decide on others. We can still discuss nominating others anytime
RECAP SINCE LAST BOARD MEETING 9
EVENTS # Date Description Location 1 Dec 12, 2017 Holiday Party • Events: Dec 12, 2017 3 2 Dec 13, 2017 Registrants Board Lead Boston 44 Habib H. Happy Hour NYC 16 Habib K. Holiday Dinner San Mateo 43 Exec Committee Palo Alto 26 Abdo San Francisco 39 George A. / Najib Recap since last Board meeting • Leb. Net Ignite 4 Jan 21, 2018 Dinner with AUB dean • Leb. Net 2. 0 committee mtgs 5 Apr 05, 2018 Decoding Blockchain & cryptocurrencies at Ripple • Fund raising plan by Joe Manok 6 Apr 12, 2018 Region Kickoff Los Angeles 38 George 7 Apr 27, 2018 High tech & Biotech startup scene San Diego 32 George A. 8 May 03, 2018 Spring Meet Up Boston 41 Habib H. 9 May 24, 2018 Region Kickoff Austin, TX NA George A. 10 May 30, 2018 Decoding Blockchain & cryptocurrencies NYC NA Habib K. 10
Recap since last Board meeting Ø Newsletters published (2): Dec ’ 17 & Mar ’ 18 Ø Mailing list of about 1100. Ø Opened/read averaging 40% and link clicks 3% of total (7% of opened) Ø Leb. Net Ignite #6: Spike & Teens. Who. Code. Total to date: 20 Ø Leb. Net 2. 0 plan committee meetings: (2) Ø Joe Manok prepared a Fund Raising plan and recommendations Ø Membership increased by 85 in five months [from 650 to 735 (13%)] Ø Executive Director (Michelle) and Communications specialist (Lana) resigned Ø LFE (Lebanon for Entrepreneurs) project completed. ERC (Entrepreneurs Resource Center) plans are shelved 11
Financial Update • 11/30/2017 Cash on Hand: • Current cash on Hand: • Cash on hand on 05/31/2012: $68, 213. 06 (A) $42, 948. 09 (A) $33, 000. 00 (E) • Ideally: – Raise $200 k in 2 H 18 for Leb. Net 2. 0 transition – With more funding to come in 2019 and 2020
LEBNET 1. 0 MITIGATION PLAN FOR EXIT OF EXEC DIRECTOR 13
t Short Term Mitigation to shore-up Leb. Net 1. 0 Completed ü Lana committed to continue her support of upcoming events: Austin (5/24) & NYC (5/30) ü Michelle committed to stay engaged beyond 5/15 specifically on website improvement project (Najib POC) ü Najib and George scrambling to get a knowledge transfer from Michelle and Lana ü Decided to forego Leb. Net Ignite in August. Speed doesn’t have candidates. So our slate is clean (Jun-Aug). Plan (Next 90 days) on P si i c e D Ø Need to hire 1 FTE: Ø Part time Social media/ Comms specialist (~ $40 k) Ø Part time project manager (~ $50 k) Ø Search in Bay Area, Montreal, or Lebanon Ø Habib Haddad thinks we might be able to leverage someone from his old Wamda team Ø Need to raise ~90 k to fund the next 12 months of Leb. Net 1. 0 ü George is fully dedicated since 4/16 14 n oi
BOOTSTRAP FUND RAISING PLAN FOR INTERIM CEO- A DISCUSSION 15
t Bootstrap Fund Raising (Leb. Net 1. 0 & CEO) on si i c e D Ø Agree on a bootstrap fund raising target of $200 k (6 months) Ø Leb. Net 1. 0: $90 k-100 k Ø Interim CEO: $100 k (6 -9 mos) Ø Abdo and Elie to approach a small target list of funders Ø Need Committee to determine CEO compensation Ø Small committee that will have access to fund raising information: CEO, ? 16 P n oi
LEBNET 2. 0 UPDATED PLAN REVIEW 1. 2. 3. 4. 5. 6. 7. Mission Statement Communities as a foundational design concept Title for Regional Leads Strategic discussion: Lebanese Canadian tech Hub Strategic discussion: LIFE funding as Plan B Open discussion: Short list of seed programs Next steps (90 days) 17
MISSION Decis ion p oint Leb. Net is dedicated to enable Tech Entrepreneurs and Professionals of Lebanese descent succeed on a global stage Connect Lebanon Nurture Next Generation Network Members
How to approach Leb. Net’s 2. 0’s redesign • Leb. Net needs to embrace its strength but build a structure around it that allows larger scale and bigger contribution • Leb. Net is a collection of communities with shared goals but individual needs. Use a community structure as building blocks to Lebnet 2. 0 to maximize member engagement, and higher effectiveness in delivering member benefits and demonstrate success in helping Lebanese startups. • Learn from arguably the most successful convening platform – World Economic Forum. 19
Leb. Net as a set of communities • First, let’s identify the underlying communities and prioritize them. • Example of communities, Regional Hubs, Executives, Emerging Entrepreneurs, Global Growth Companies, Scientists, Students Focused industries (Tech, Biotech, etc…) • Full time Leb. Net staff to be repositioned as community managers. Each community manager can handle a few of the community programs. • Anyone can be a member of Lebnet and benefit of the events etc. . . but only community members can benefit from the hands on matching/support etc. . . : 20
Some WEF Communities 21
Community design • Communities are built around a region (Boston, NY), or a shared interest (industry, technology, profession, etc. . . ) • Approved by the board of directors but probably merging by popular demand. Designate board sponsor • Clear membership criteria • A leadership team: Overall leader, membership and events. • Well thought through titles to encourage volunteering • Term limits to maximize involvements. • Could have an institutional sponsor (easier in general to sponsor a well defined program) • Would be supported by community managers/coordinators from central Lebnet staff 22
ion cis De Let’s start with Regional Hubs as communities int po • We should come up with an official title for those who are leading our expansions in the regions. Used for motivational purposes. • create meeting forums for those leads to discuss regional matters: concept of a national operating committee • Example Layal Rouhana at San Diego – Suggesting: Leb. Net San Diego Region Lead (or VP? ) 23
Strategic Discussions 1. Lebanese Canadian Tech Hub: Fares/George connected with LCTH leadership to discuss members merger, staff collaboration, and incubation partnerships 2. LIFE: Habib Kairouz suggested considering LIFE as a potential funder for Leb. Net 2. 0 with a hook that it would lead back to merger discussions. He believes that leadership still very interested in high tech and might fund. 24
Leb. Net 2. 0 Value proposition: 2021 Aspirations # Stakeholders Aspirations Programs 1 Members in North America Association with Leb. Net has a direct impact on career advancement thru connections & mentorship. Best vehicle to give back CEO/CTO roundtables, Sounding Board, Coaching, Premium events, Job referrals, nationwide activities, advisory services 2 Students & early-in-career Leb. Net complements other job referral and coaching networks with its unique value Internships, Mentorship, Job Referral 3 Lebanese Entrepreneurs Leb. Net is a knowledge bank of expertise for US expansion and their VC funding journey Leb. Net Ignite 2. 0, Mentorship, residence program in SV 4 Lebanese ecosystem Leb. Net is a training partner: train the trainer Structured Mentorship, Local events and presence, Academia partnership 5 Lebanese Govt. & BDL Leb. Net is an advisor on technology & innovation Speakers, unbiased advisors and consultants 6 HNWI around the world Leb. Net is a key pillar in economic development in Lebanon and a trusted donation recipient Science Competition, Technology curriculum enhancements 7 US based VC’s & Accelerators Leb. Net has a good reputation of referring solid candidates and opportunities Fund raising coaching, Partnership on Accelerator programs 8 US based donor organizations Leb. Net has its finger on the pulse of ME entrepreneurs with a track record of impact 25 & Workshops in SV for VC’s, PE’s Lawyers (ME wide). ME delegations
Open Discussion: pick 3 seed programs # Stakeholders Aspirations Programs 1 Members in North America Association with Leb. Net has a direct impact on career advancement thru connections & mentorship. Best vehicle to give back CEO/CTO roundtables, Sounding Board, Coaching, Premium events, Job referrals, nationwide activities, advisory services 2 Students & early-in-career Pick 3 other job referral and Leb. Net complements coaching networks with its unique value Internships, Mentorship, Job Referral 3 Lebanese Entrepreneurs Leb. Net is a knowledge bank of expertise for US expansion and their VC funding journey Leb. Net Ignite 2. 0, Mentorship, residence program in SV 4 Lebanese ecosystem Leb. Net is a training partner: train the trainer Structured Mentorship, Local events and presence, Academia partnership 5 Lebanese Govt. & BDL Leb. Net is an advisor on technology & innovation Speakers, unbiased advisors and consultants 6 HNWI around the world Leb. Net is a key pillar in economic development in Lebanon and a trusted donation recipient Science Competition, Technology curriculum enhancements 7 US based VC’s & Accelerators Leb. Net has a good reputation of referring solid candidates and opportunities Fund raising coaching, Partnership on Accelerator programs 8 US based donor organizations Leb. Net has its finger on the pulse of ME entrepreneurs with a track record of impact Workshops in SV for VC’s, PE’s & Lawyers (ME wide). ME delegations 26
Leb. Net 2. 0: Next 90 days 1. Build concept papers for seed Programs 2. Come up with an Initial list of Leb. Net communities with skeleton structures 3. Operationalize structure for regional hubs 4. Bootstrap fund raising: checkpoint end of August 5. Wrap-up new Logo competition and finalize Logo by end of August 6. Work with Marc Suidan on his 6 -weeks presence in Lebanon 7. Create Digital Presence Task Force and engage consultant to architect 8. Develop LIFE backup plan for funding 9. Finalize expansion agreement with Lebanese Canadian tech Hub 10. Create “pitch deck” for fund raising 11. Continue developing Leb. Net 2. 0 plan (committee: Magid, Elie, George A. ) 27
BACKUP 28
US/NA Based Members Strawman Governance Structure Board of Directors Board of Advisors (Pool of future directors) CEO Lebnet Staff Local Chapters National Operating Committee Taskforces 29
- Slides: 29