We are getting to the end of our journey through the PE & VC war, and I do believe now you know a lot to face the story of PE & VC from a completely different angel. Let's imagine you have to start your own business, and probably a good portion of the audience working with this course could be interesting in launching their own startup. Obviously, a clip is not enough to know all the secrets and rules to launch a start up. It's honestly something very complex, but I do believe it could be enough just to start breaking the ice. A recommendation: I believe that, nowadays, to discuss about the idea to launch a startup is not impossible. It's really the right moment, because there is, honestly, today, especially in Europe, an alignment of stars that represent a fantastic combination to launch a startup. The first aspect, all around the world, there is a huge amount of liquidity and because of the fact in many countries, interest rates are going down, investors are looking for new investments. The second is aspect is related to the fact that there is an incredible interest in the so-called alternative investment, and PE & VC represents a fundamental asset class within the portfolio of alternative investments. The third aspect is related to the fact, especially in Europe, there is a dramatic need for growth and to increase the GDP of different countries. To sustain a startup is one of the possibilities, it’s one of the options to promote growth. It's really the right moment. If we wanted to discuss about rules that a startupper has to apply to launch its own idea, I believe it's fundamental to highlight some bullet points that you have to keep in mind. Six rules, I consider, are relevant to give the right recommendations to a startupper. The first rule, commitment, hard work, and passion. Remember that if you turn the table and you consider the view of a VC investor to invest in VC’s something very risky, something very complex, so the first way to convince an investor is to demonstrate your capability to work a lot, to give a lot of passion to your own idea. The second rule to have a good team, to have the right team. It's impossible, obviously, to give suggestions about the right team. But what is relevant is that if you want to create a certain idea, you have to demonstrate that you have the right persons to manage the product. That means to combine people coming from very different backgrounds, engineering, economics, whatever kind of background, but consistent with the characteristics of the business idea. The third rule is related to the fact that you have to promote a very glamorous idea. Remember, the investor has to fall in love. Not only because the investor has to commit money, but because of the fact the investor is going to become a shareholder of your initiative, of your idea. And to become a shareholder of a startup is not only a matter of money, is a matter of gut feeling, is a matter of falling in love with the characteristics not only of the team, but also of the business idea. Rule number four, numbers, numbers, numbers. So passion is important, commitment is important, but you can't forget that the venture capitalist is an investor, and is looking for an IRR. That means you must be able to transform your passion, your idea, into numbers that have the venture capital investor to test the waters and to understand if there's room for an IRR that really makes sense for the investor him or herself. The fifth rule is related to the fact that you have to demonstrate that you are able to face risk, not only because you want to become an entrepreneur, but also because you want to commit your money. It doesn't matter, the amount of money, but you have to demonstrate that you want to share the risk together with the venture capital investor. Please avoid stories in which you say, I have the idea, you have to give me money. It doesn't work. You have the idea, but you have to demonstrate that you are able to take the risk and you have to invest some money. Rule number six is related to the fact that you are able to commit to other people. It's a fundamental rule. When you organize a meeting with a business angle, or you organize a meeting with a VC investor, the fundamental test of the VC investor is to understand if you are able to convince other people to give money to you. And obviously, other people means not only your own portfolio, but especially other people means your network. That means family and friends. If you're not able to convince your family, your friends, it becomes very difficult to convince eventual capital investor. Six rules and a last recommendation. If you want to launch your own start up, remember that investors could be very different, because an investor could be very formal VC investor, an investor could be a business angel, an investor could be an idea worth individual, or an investor could be also an incubator. My one recommendation is please select the investor that makes sense for you. That means that if you need a lot of mentorship, if you need a 24 hour support, seven days per week, probably you need a business angel. But on the contrary, if your business plan is very well organized, numbers really work, the idea is fantastic, probably you are ready for form of VC investor. It doesn't matter what you are going to select, but what is important is that you want to select the investor that really makes sense for your background, for your study, for your ideas, and especially for your future.