How did Kevin Plank launch a $5b fashion brand - now one of the biggest global fashion powerhouses?

What was the 10X factor ?

1. Kevin was passionate about football and built a Rolodex of 50 nfl stars 
2. He identified a need - Wearing cotton T-shirt under his pads was uncomfortable, and always wondered why no one ever made an alternative to a short sleeve cotton T-shirt in the summer and a long sleeve cotton shirt in the winter. “I wanted to build the best T-Shirt in the world for football players” said Kevin 
3. Innovated - Tested synthetic material to make compression shorts and tops and made his first six or seven prototypes and tested them on his teammates . 
4. 500 T-shirts were custom-made. Mr Plank then sent three to each of his nrl mates saying “if you like this, try it. And if you don’t like it, please give one to the guy in the locker room next to you.”
5. Turnover growth - $25k - $160k - $585k - $7m - $440m in 2005 - $1b in 2010 - $5b now 
6. UnderArmour became a brand  - an ethos - an idea - and you can’t kill an idea 

What’s your 10X factor ?

Funding and Networks can be a powerful cocktail

Research from the 2019 Global Startup Ecosystem Report identified 4 of the 9 Key components of a high performing startup ecosystem include 

• funding, 
• knowledge, 
• connectedness and 
• market reach 

There are lots of events, mentors and desire to help add value to startups and ventures.... and yet Australia’s startup ecosystems are sliding down the ranks, according to the Sydney fell six places from 17th to 23rd, while Melbourne fell out of the top 30 altogether.

Why? 

1. Inability to access angel/VC level funding, 
2. access to distribution channels and networks, and 
3. challenges with scaling into different markets

Were identified as issues 

So, how can we fix this?

Funding 

• How does a business become investor ready?
• How does a business become referrable ?
• How does a business get access to capital, distribution channels and networks? 
• Who do the go to - to find the money 

Australia needs to grow its Angel investor community - 

We are a gambling nation - Melbourne cup for example - and yet we have not yet doing the key to connect “punters to players” 

Startup economies such as Silicon Valley, Tel Aviv, New York, China and other ecosystems around the world seems to have nailed this! 

On of the biggest risk mitigation tactics for investors is to access a highly diversified portfolio. Invest in 10 - one will nail it.... 

so there is an opportunity to invest in VC funds - that the “punters” can trust . 

Why are there so few of them in Australia? 

What a great opportunity!! I believe this opportunity will grow exponentially over the next 10 years.

Can VC be an asset class that can be as prolific as property? I believe the returns can be better for the investors, the economy and the country.

Access to Networks

How can we connect larger business or enterprise clients, suppliers, and partners to startups .

How can we build know like and trust with each other? 

Maybe BBG can be a conduit to provides larger companies with access to industry trends and the opportunity to collaborate with the startup communities and founders. 

Give people what they want and you will get what you want! 

Accessing international marketing 

Founders and companies should be global and scalable.

How to access international markets is a key challenge.

Some solutions could include 

• Austrade have launch pads , and grants
• Investors have connections
• Networks need to be accessed
• Trade shows
• International VCs 
• Network of professionals 
• Founders and unicorns that have been there and done that - becoming mentors and investors 
• BBG building out an international network of forums 

The next decade should provide an outstanding opportunity for Australian founders, the startup  community and BBG www.bbg.business 

Onwards and upwards