Ideas are a dime-a-dozen, but only sometimes is an idea so good that others may want to invest their money into it.
On the 14th of March 2023, six outstanding start-ups were given the chance to present their ideas to ready and willing investors in Vienna, at the Bioeconomy Ventures Platform Investment Brokerage Event. The event, hosted by F6S and alchemia-nova, was held at the magDAS City Hotel and funded by the European Commission under the EU Bioeconomy Ventures Project. Eleven startups, seven representatives from the investment world (investment funds business Angel organizations and public funding close brackets) and handful of project members toed the line too be in the running for a deal and a number of worthwhile leads were established. In an insightful plenary “fireside chat” discussion, conceptualised in conjunction with Foodscale Hub, valuable insights were revealed to innovators by the panel of investors!
Some of the “do’s and don’ts worth a mention are:
1. Investors like lines and not points
It’s all about creating trust, so although the proverbial pitch deck has its function, deals are based come from familiarity and a personal touch. To create this level trust, “wannabe” startups will need to start early and establish ongoing contact points by networking intensively to make, build and maintain the connections that may lead to a deal!
2. Know your investor profile
Investors also need a slid deal-flow, but they have specialised interests which should be addressed! So, do your homework and be sure not to waste everyone’s precious time chasing investors that are not interested in your field of application, or are even already heavily invested into a direct competitor! Just as important, innovators should know what they expect from an investor in terms of finances, business management, access to markets etc. All this points towards preparedness and business acumen and strategy!
3. Local is better
Rather obviously our investors agreed that innovators should look for money locally first. Investors may want to “pop-in” to have a look around and being local definitely helps with that personal touch. Importantly, investors will be familiar with local markets and regulations, and besides, it may raise eyebrows if you are not approaching local investors first!
4. Financials, it’s not only about the numbers
The pitch deck is not the alpha and the omega, but a tool for display once first introductions are successfully concluded. And although the financial prognosis is important, investors know that nobody can see into the future and judge the numbers in terms of understanding the entrepreneurs’ game plan, milestones and business logic, rather than setting sales projections in stone.
5. Veer away from “Captain Obvious”
Avoid hovering on the usual problem statements and get concise and to the point – team, tech, traction – and highlight signals that show there are people out there that love your product.
The BioeconomyVentures Platform is all about helping innovators get into the room with the correct investors and will be running follow up investment brokerage events at “The Hague World Bio markets” and the “European Food Biomass and Bioeconomy Summit in Thessaloniki” in May 2023.
