7. 1. How would I fundraise these days.
2. Break.
3. 9 steps to successful fundraising.
4. Our story with Neulogy Ventures.
(if we still have time)
Plan for today
12. Good elevator pitch
1. Only a few simple sentences.
2. Even a 5 year old would understand.
3. Describes the value, not features.
4. The goal is to spark interest and get a meeting.
5. The goal is NOT to get an investment, yet.
14. Speaking with investors
1. Build relationship. Think of a “marriage”, not a “one
night stand”.
2. Start with elevator pitch and ask for a quick feedback.
3. Ask for advice when you are NOT ready for money.
4. Follow up with investors on how the advice worked.
5. Ask for money when you are ready for it.
19. Does the problem REALLY exist?
1. What are your biggest problems when …?
2. How do you overcome them?
3. If you could have a magic wand,
what would the solution be?
How often do you have the problem?
Why is it a problem?
22. Product Development
1. Solve existing problems.
(You are unlikely another Steve Jobs or Henry Ford, I’m not either.)
2. Don’t reinvent the wheel.
3. Understand what works.
4. Don’t be afraid to pivot.
5. Apply a build-measure-learn loop.
25. Know your market
1. Avoid generalizing:
1. The whole US healthcare industry is $3T (trillion).
2. 10% of market could be mine.
2. Quantify your use case and niche.
3. Investors will do their own research.
27. Be realistic
1. Lying will hit you back later during the due diligence.
2. Likely the most important slide, because investors
listen to:
1. customers
2. sign-ups
3. revenue
3. If you don’t have customers, be clear on why.
29. Forget about ideal business model
1. Two things are really important:
1. Who is going to pay you.
2. Why are they going to pay you.
2. That determines how are they going to pay you and
how much are they going to pay you. You can figure
this later, but pick one for the pitch and be ready to
defend it.
31. Your go-to-market strategy
1. Depends a lot on who your customer is.
2. Online marketing won’t work for selling to enterprises
and direct sales isn’t sustainable for a $10/month
service.
3. Hunting flies vs hunting elephants (not my concept).
33. Be very open and honest
1. Investors will do their own research.
2. Never say that you don’t have any competitors. It means
that you didn’t do research or there is no market.
3. Competitors aren’t the ones building the same product,
but solving the same problem.
4. Keep your eyes open and consider also less usual
competitors. Like other companies selling other products
to your customers or simple pen and paper.
35. Show why you are winners
1. Early stage investors invests in teams, not ideas.
2. Good team can deliver a bad idea (or pivot to a
successful company).
3. Highlight what deserves it and skip fluff. Ex:
1. An early employee at an exited startup.
2. Worked with a leader in your industry for X years.
3. etc.
37. Your plan has to match your stage
1. It shows how you understand your company and business.
2. Many CEE companies spend too much on product and not
enough on marketing and/or sales.
3. Don’t forget legal and admin costs.
4. Add buffer to your plans, you don’t want to start fundraising 6
months after a successful round.
5. Tip: Double costs and half revenue of your first plan to make
it more realistic.
39. Mentegram + Neulogy Ventures
1. Ask for advice to get money.
Ask for money to get advice.
2. Startup Awards + Ken Ryan
3. Pitch
4. Term sheet
5. Documentation
6. Fundraising
7. Party
40. Mentegram + Neulogy Ventures
3. Problem
4. Solution
5. Validation, Traction
1. Asking for 2. Needs a reason
41. Mentegram + Neulogy Ventures
1. Investor = Partner
2. Monthly reporting
You need to have a CFO that understand this. A “mom
accountant” won’t help.
3. Regular board meetings
Be open about problems and ask for help. Investor is
your partner and wants you to succeed.