Why is this Important?: You will need funding to take the company through the proof of concept stage and leave sufficient time to raise additional funding
Key Actions | Things to Consider | Tool Kit |
---|---|---|
Educate yourself on general terms and instruments used in early stage funding | Understand common financing terms (i.e. pre-money valuation) and those used in term sheets
Study various financing vehicles (Notes, Equity) |
Financial Terms Definitions |
Create a 10 min investor pitch suitable for raising money | Are all your assumptions covered?
The Feasibility Report and the investor pitch should compliment and match content |
Pitch Deck Template |
Practice pitch in front of experienced investors & experts | Expect & encourage questions. Are all of them addressed in the pitch?
Plan to iterate the presentation many times before actually pitching |
LSWI Pitch Coaching and Consulting |
Put together a budget that will get you through Proof of Concept and Series A financing | Try to be a virtual company as long as possible
Only spend money on things that create value
|
Startup Financials Template |
Identify potential investors:
Non-Dilutive Funding: Government grants, etc |
Good investors bring more than money to the party i.e. expertise, network, credibility, etc
|
WA Investor Database
LSWI SBIR Grant Writing Program
|
Raise enough money to get you through Proof of Concept and to Series A financing | Don’t try to raise money before you firmly understand your final value proposition
Do you have a valuation?
Take money when it is offered and, if possible, take more than you think you need.
|
Valuation Worksheet |