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Understanding funding, an overview of Canada's funding ecosystem
- 1. Understanding Funding Mike Lee, P. Eng., MBA, CFA mlee@fundica.com
- 3. Types of Funding Financial Motivation Expected Return Expected Revenue Business Model Key Consideration Tax Credits Pre-defined na na na Tax Law Grants Societal na > $0 Reasonable Best In Line Public Loans Societal 5 - 10% > $0 Reasonable All Factors Private Loans ROI 5 - 20% > $30K Security Assets & CF Angel Investors ROI >15% <<$100M Believe it Cash to CF+ Venture Capital ROI >25% > $100M Traction Time to Exit
- 4. Systematic Funding Steps Commercially Viable Product & Market? Cash-in-hand? Gov’t funding? (tech, young, hiring) CF history of assets? Apply for gov’t funding Seek cash injection 1. Love money, angel 2. Bootstrap STOP Apply for bank loans Additional capitalization Seek Angel or VC Yes Yes Yes No NoNo No Build team Core Team? No YesYes No Yes END
- 5. At Each Funding Step Identification / Validation • Up-to-date, comprehensive system • Validate before pitching/application Pitching (Application) • Prepare (executive summary, deck, financials) • Execute Closing the Funding • Make sure to close
- 6. Traditional Funders Entrepreneurs Internet Bots Dedicated Researchers Advisors Funding Identification Fundica - Leveraging Technology and the Crowd
- 7. Pitch Deck Content Structure Your Content • Problem you are looking to solve (simple, concise) • Market potential (size and growth rate, metrics) • Your solution (advantages, value to add) • Business model • Go to market strategy • Competition • Financial projections • Existing structure and progress to date • Funding sought
- 8. Pitch Format and Q&A Presentation • Be yourself, engaging, prepared • Concise, complete, clear message • Slides - max 15 slides, min font size 18 Question and Answers • Focus on questions, do not repeat presentation • Okay to say “I am not sure” • Concise, short answers • Allow time for multiple questions • Build rapport
- 9. Closing the Funding Understand the Investor • Understanding the investor’s motivation and limits • Learn about the investor’s past Build Respect • Always create deal competition • Share information and build trust • Allow for reasonable give and take Move the Deal to Close • Patiently move deal towards closure • Trigger reasonable close dates • Find funding then structure deal
- 10. Thank You! Mike Lee, P. Eng., MBA, CFA mlee@fundica.com