Prepare For & Raise Sufficient Money To Get Through To The Next Logical Funding Point
Why is this Important? You will need funding to take the company through the early stages of Executing the Plan, including regulatory assessment & IND approval, and still leave sufficient time to raise additional funding.
| Key Actions | Things to Consider | Tool Kit |
|---|---|---|
| Be sure you are ready to approach investors; have key items ready from previous steps | A pitch with obvious flaws can sink a venture
Ask investors who turn you down for feedback and listen intently It may be possible, but do not assume that you can again approach investors who have previously turned you down; ask if it would be okay to keep them updated |
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| Identify potential investors | What companies are currently in a venture capital fund’s portfolio?
Network with other CEOs ➔ ask for introductions from those investors you know & trust Do they invest in companies at similar stages & raising similar amounts of money ($2M vs $200M)? |
WA Investor Database |
| Get legal advice as to requirements, needs, and restrictions for an offering | Is writing an offering memorandum necessary?
Pay attention to public disclosure rules |
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| Comply with legal requirements | ||
| Develop investor pitch(es) | What type of investors are you pitching to?
Should contain all elements of the Business Plan Your goal for the first meeting is to be invited to a second meeting |
Pitch Deck Template |
| Practice investor pitch(es) | Rehearse and then rehearse again
Anticipate questions and prepare backup slides with answers |
LSWI Pitch Coaching and Consulting |
| Raise enough money to get to the next logical fundable milestone and investment round | The next logical milestone is highly dependent on the product, the regulatory environment, and market forces.
Can be the pre-IND meeting, IND approval, or even Phase I clinical trials |
Term Sheet Template (AOA) |