10 Ultimate Tips to Secure Your First Round of Funding
- Posted by Metavallon VC Team
- On March 13, 2018
Working hard on your submission for our Pre-Seed investment call?
Raising funds can be overwhelming, especially at these very early stages when so much is an unknown. We understand, so we’ve got some good news:
The tips below can help you understand what we are looking for and how you can submit your company successfully. Most importantly, this is a master key. Different investors may be interested in different sectors or business models, but they are looking at the same indicators of success. This list hits every single one of these indicators and, used correctly, it can help you unlock any fundraising door.
So let’s get cracking on how to submit for Metavallon VC – and for any investor:
1. Build something. This is the cardinal rule. All successful founders are doers and creators first. And delivering on the tech side is the absolute responsibility of the founder. We are not looking for the Great Big Wall, as long as we can see that you have built something. We do not care if your product is imperfect or is being used by few, just have something ready and running.
2. Bring the team to the spotlight. The team behind the venture is what matters the most; so update -or create- your Linkedin accounts, tell us what’s important and relevant in your bios, and be yourselves in the video. We need to see that you are committed to and passionate about what you are doing. Show us why this team is the right one.
3. Is it big enough? Startups are not simply new businesses, they are lean ventures able to achieve high growth. For this cycle, we focus on tech startups addressing a big market looking to scale fast, ideally in one of our select sectors (check our innovation space). Think big, start small, and have a plan to grow fast.
4. Why now? Why do you think that now is the right period for your venturing endeavor to succeed? What developments in technology, in the market, or in the broader economy do you think that will help you succeed? Timing is the most overlooked element in starting a business – and yet it may be the single biggest reason why startups succeed, or fail.
5. Submit early. The earlier you submit your company, the better. We have two deadlines: our early one on April 1, 2018 (23:59 GMT) and the final on April 15, 2018 (23:59 GMT). Submitting early means we will have more time to spend on your submission and, with a lot less people submitting early, you will even have less competition in getting selected for our Interviews. So, start completing the form as soon as you can, save your drafts, and, once ready, send it over.
6. Express yourself clearly and briefly. One of the most critical things in applying is for us to understand what you are working on. Make your submission stand out by using simple, clear, and concise terms. Using bullets is always helpful. No need for essay writing here; there is a character limit for each response, which is more than enough and all we are looking for.
7. Do not use marketing language in order to make your submission seem more exciting. We are excited too, yet we appreciate brevity and clarity more. The point is to raise our interest, not simply draw our attention, and too many words make the evaluator’s job more difficult. So, simply focus on stating clearly who you are and what you are doing, without writing huge introductory and “hard-selling” paragraphs.
8. Answer everything. Although we do not sign non-disclosure agreements, we certainly avoid disclosing your plans to potential competitors. If you are about to answer a question by saying you cannot tell us because the answer is classified or controversial, please tell us instead about a supportive argument that isn’t.
9. Revise and refine. Unnecessary words in your submission subtract from the effect of the necessary ones. Our suggestion is to go over your submission multiple times before you submit it. You can also print it, take notes and cross out every unnecessary word. What will be left has to be the best.
10. Get referred by someone in your business. Getting referred adds an element of trust, yet certainly is no assurance for selection. The ideal referrer is a customer or business partner, that may share their take on your team and service. If you have none of the above get the next best person. In any case, let them know about your submission and let them know they will be receiving an email request to drop us a note – it need only be short and sweet!
In brief: If there’s something about you that stands out, or some special insight you have, make sure we see it.
Our Pre-Seed investment call deadline is approaching fast. Have more questions? Check out our carefully curated FAQ section.
And in the meantime, keep building and moving forward. Growing an extraordinary business has little to do with company submissions or even funding. Create, iterate, build stuff that matters.