Here are my takeaways (with some names remove but - for co-founders - in our samepage site).
- Seedcamp - good way to progress your startup
- It is now easier to find funding in Europe
- Crowd funding here is alive and well - I've heard this elsewhere, it's difficult to do this in the US due to their overbearing regulations. It's also a great way to involve your customer. It is most definitely not Kickstarter which they called a demand generator. Notable platforms include Seders and Crowdcube.
- Angels - seed funding up to €1.5m. They may not, however, be so involved as before. Some names will be in our samepage version of this:
- Keep going to events to meet potential angels.
- Also, get to London and Berlin to get into the startup ecosystem there
- "Timing is important" in terms of product
- Investors are now spoilt for choice
- Quality of founders has improved.
- Have a comprehensive team
- Make sure you can differentiate against similar ideas from competitors
- Be global - you can no longer build a one-country-only business and expect funding
- "Once Delaware can't go back" - meaning if you register there you are stuck
- UK registration is still recommended - despite all that Brexit nonsense - because of transparency and respect for the rule of law.
- There are several government grants (Honey 2020, Marco Polo 2, London Investment Fund, Enterprise Capital Fund, Angel Co fund) although they may be costly in terms of preparation of the materials (need lawyers etc.)
- "Capital in King" - approach funders before you need the funding
- Investors are looking for:
- Team
- Proper incorporation
- Thorough understanding of the business area you are in
- Traction
- Engagement - understand the value to, and use by, users
- The solution should be
- big
- needed
- and talk about it, get feedback
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