On Entrepreneurship

SB (Serguei Beloussov) Acronis CEO

1 SB Background: Early Years Early Years Getting Into Business Early Tech In Singapore

1971-1992 1992-1997 1997-2000

• Born in USSR • Sunrise - , Rolsen - Electronics • Franchising Distributor of US Mid-Market ERP Vendor – Solomon Software • Peterhof, School #415 • Finance/Logistics/Purchasing in Singapore, (1st Peterhof Gymnasium of Emperor Alexandre II) moved to Singapore in 1993 • Singapore, Malaysia, Indonesia, Thailand, Vietnam, HK, Philippines, Nepal and more • Boarding School for Physics and Math #45 • Opened office in in 1995 (under SPb State University, one of top 4 in USSR) • Software Revenue ~5 million USD, very profitable, • Manufacturing in Russia, Korea, China eventually sold To • Institute of Physics and Technology • Our own process, design and R&D • Launched Solomon Software in Hyatt Singapore (MIPT) - #1 Science and Technology School in USSR • Become #1 TV/appliance vendor in CIS/Russia • Met Bill Gates • $500M Revenue, 5000 employees • Professional Software Engineering, Sales, Marketing, • B.Sc (‘92), M.Sc (‘95), PhD (‘07), Hon. D.Sc (‘12) Partnerships • Founded Western Computers & Peripherals, • Technology startups, Venture industry & Fundraising Standard & Western Software

2 (2000-2010)

• 2001: HSPcomplete and Virtuozzo released, launched at Fullerton Hotel, Singapore • 2003-6: Acquired Plesk, Confixx, , H-sphere, Ensim, Sphera and Helm • 2006: Parallels Desktop for Mac – first virtualization software for Intel-based Macs • 2007: Met Steve Jobs, сhanged company name from SWsoft to Parallels • 2010: Hired professional CEO, focused on Runa Capital – Summit at Fountainbleau in Miami, FL • 2015: Split into Odin (sold to Ingram in 2015), Plesk (sold to Oakley Capital in 2017), Parallels (sold to Corel in 2018), and Virtuozzo *Steve Jobs about Parallels

3 (2010-2013)

• Founded by SB in 2010 • Global technology-focused venture capital firm with $500M+ under management, currently closed Fund III • Presence in Palo Alto, London, Luxembourg, and Singapore • $1-10M rounds of funding to companies • 5 partners, 3 principals, 5 analyst/associates, 5 back office, 3+ venture partners • 70+ companies in portfolio, 20+ exits

4 Other Venture Projects - $600M+ under management

Qwave Capital (http://quantumwavefund.com/): 4 people in team, 4+ portfolio companies • $50M international venture fund focusing on $500k-$5M investments in quantum technologies, sensors, robotics, drones, industrial IoT • ID Quantique: quantum cryptography and photon counters • Coda Devices: Raman-based solutions for chemical substance analysis Day One Ventures (http://dayoneventures.co/): $25M, Fund I, 6 people in team, 65+ portfolio companies, currently raising Fund II:

Phystech Ventures (http://phystechventures.com/): 6 people team, 16+ portfolio companies • $25M international seed fund focusing on $100k-1M investments in B2B companies in cleantech, oil & gas, IoT, automotive, cyber security and education technology. • MEL Science: Science education – kits and VR/AR apps • AT Energy: hydrogen-air fuel cells and new hydrogen storage solutions. • GTI: solutions to optimize the cost of geo installation and drilling for oil companies Almaz Capital (http://almazcapital.com/): 10 people in team, 50+ portfolio companies, Fund III, 500 million under management • Notable exits (12+): , Vyatta, Qik, Sensity, , Parallels and others

5 Co-founded (outside of main focus)

Theory Kitchen and Bar, Nplus1, Rusonyx, Western Computers & Peripherals, Sunrise

6 Companies Invested

7 Investment vs Entrepreneurship

8 • 2003: Founded in Singapore as SWsoft/Parallels spin-off in the process of Plesk/Confixx acquisition • 2004: 200% growth, 80% profit, sold 27% to Insight Partners • 2005: Acronis True Image Enterprise Server released, revenues tripled • 2007: SB left executive chairman role to focus on Parallels

• 2013: Entrepreneur CEO back at the helm, focus on Cloud Singapore • 2017: Acronis Ransomware Protection released – best solution on the market, free with all Acronis products • 2019: Acronis is the world leader in Cyber Protection. Welcome to Acronis Cyber Summit!

Schaffhausen, Switzerland

9 Next project: science, tech, and education: $10T market SIT UNIVERSITY COMPUTERS, PHYSICS, BUSINESS Top 50 under 50 Global Top 100 in CS, Physics, Business 2,000+ degree students on main campus 20,000+ blended degree off-campus students 1. Real Estate 200,000+ online non-degree students 2. Education SIT RESEARCH CENTER 3. Science as a Service 30+ chairs in: Cybersecurity and 4. Spin-Offs Information Integrity, AI/ML, Software Engineering, Robotics & Autonomous 5. Learning Management Machines, Quantum Technologies, Advanced Materials, Digital Health, Digital Sports, New Generation Business Management, AI in Arts & Design, $100M+ investment over 8 years Digital Law $500M+ annual revenue in 15 years SIT TECH PARK 2,000+ new jobs in Schaffhausen 300+ SIT’s startups and R&D centers of 5 campuses in all major regions 100+ industry partners – within walking 500,000+ m2 of real estate worldwide distance

10 Lesson 1: Making Money, Unlimited Upside, Protected Downside

11 Lesson 2: Key Entrepreneurial Qualities

1. Alert 4. Responsive 7. Care even outside of 2. Never give up 5. Detail direct responsibilities 3. Make oriented decisions 6. High 8. Passion + + passion sells Frequency sufficient number of activities

Vikings Small group of people affected all European states http://www.imdb.com/title/tt2306299

12 Lesson 3: What is strategy?

1. Strategy rests on differentiation (unique activities)

2. Strategy is about leveraging strength (fit capabilities)

3. Sustainable strategy requires trade-offs

The Admiral (2014) www.imdb.com/title/tt3541262/

13 Lesson 4: Operational Excellence is not enough but always required

455 million years of optimization: 1. Cartillageous bones (like our noses and ears) – more weight-efficient 2. Denticles on skin (like sandpaper) – defensive and improves hydrodynamics 3. Regenerative teeth – can lose 30,000 during life and remain effective predator 4. Massive liver – up to 25% of total weight, to keep energy on long hunts 5. Lateral line – dual acoustic-electric sensors for locating prey 6. Can smell blood in the water from 0.1ppb (parts per billion) at a few miles 7. Extremely hydrodynamic body and fins shape – better speed and control Deep Blue Sea 8. Countershading (darker on top) – to hide from the prey better (1999) 9. Two types of muscle – one is used to break down for energy in the final hunt www.imdb.com/title/tt0149261/

14 Lesson 5: Leadership, Team and Management

Das Boot (1981) https://imdb.com/title/tt0082096/

15 Lesson 6: Partnerships: relationships, reputation, credibility

16 Lesson 7: About Planning

Change In preparing for battle I have always Pressure Adapt, not avoid found that plans are useless, but planning is indispensable Multitask - Dwight D. Eisenhower

Omaha Beach, D-day site

17 Lesson 8: Never assume that you have learned everything

Six Senses, Bhutan

18 Acronis Cyber Foundation All evils are caused by insufficient knowledge

Building IT Education IT Education IT Education And more… Schools for inmates for Veterans for migrants

Myanmar, In Singapore In the US with In Switzerland Books and courses Cambodia, prisons with Acronis SCS with SIT about technology, Tanzania, Senegal AI and quantum and more… physics and more…

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