We hear this every day from startups. In these times, are investors still open…
“Who would’ve thought that we could kick off our third batch in sweat pants? Yesterday we celebrated the start of our first fully digital accelerator program? We are happy to welcome 9 female-led startups from 5 different countries and various industries to the next batch of Grow F!”
With this witty statement, Female Founders announced the great news on LinkedIn that they were able to digitize their third batch. The corona crisis has hit all companies and accelerators hard and has confronted them with great challenges. GrowF responded incredibly quickly and they were able to switch to online acceleration. In this way, they were able to achieve a great digital fundraising process that helps women founders.
Entrepreneurship + women = the future
Female Founders is now one of the fastest-growing communities for female entrepreneurial minds in Europe.
With more than 4500 members and about 20 mentors, they formed a great community and created an encouraging atmosphere for learning and development. Their vision is to change the economy and society by promoting female entrepreneurship.
Grow F is their fantastic accelerator program that sets in motion highly innovative and scalable female-led ventures.
Batch #3 Debunking the fundraising process
Apart from the discussion on legal clauses in the term sheet and investor relations, we had the honour to debunk the investor process with the fabulous female entrepreneurs of batch #3. We basically did a reverse-workshop, i.e. getting to know the participants’ imminent questions and challenges and respond directly with the right sections of the workshop to work canvas-based and get some stuff done. What was it about this time?
- Dissecting and understanding the Investor Landscape
- Understanding your ideal investor and where to find them and build an investor pipe – we call it Investor Profiling
- Debunking the overall preparation and negotiation process with investors and clarifying which documents to prepare and need when
- Using one of the valuation methods for early-stage and pre-revenue startups in a live case
This time the participants went home with their own checklist and project plan to run through the process (depending on where they were standing in investor readiness), a Due Diligence preparation checklist, a sample early-stage valuation and scoring for building their individual investor pipe. Next time this could be different, as their challenges might be different. But we are prepared. The material for the workshop is based on our key2investors platform and is available for users there too.
Congratulations to all wonderful participants
BLAZAR – a software platform aimed at producing predictive models in oncology – Dora Sabino
DIME DIGITAL – Marketing & Advertising – Khaleelah Jones
IMPACTORY – Platform for social commitment – Elke Pichler
OMINI – Medical Device – Joanne Kanaan
REBEL MEAT – Food & Beverages – Cornelia Habacher & Phillip Stangl
RENOON – FashionTech – Iris Skrami
SIMPLIFY.ART – Simplify the way you document, remember and share artworks – Victoria Dejaco & Benjamin Novak
SUITAPP.ME – Apparel & Fashion – Elena Laktionova
UP’N’CHANGE – Management Consulting – Gabriele Lang & Barbara Joshua
Many thanks for the excellent set-up to Lena Hödl and Nina Wöss of female founders.