Free Access to Europe’s Biggest Business Show with Angel Investment Network

Angel Investment Network are proud to announce our latest partnership with the Business Show. As part of this, we are offering complimentary tickets to their London event on 16th & 17th November 2017. For more information and to claim your tickets please see the article below by Shane Ransom, Senior Marketing Manager at PRYSM Media Group:

Overview

After 19 years of running, PRYSM Group are proud to announce the 38th edition of The Business Show will be kicking off on the 16 & 17 November at London’s Olympia.

To anybody who has attended the show, it will come as no surprise that it has firmly established itself as Europe’s largest event dedicated to helping startups and SMEs successfully evolve or expand their businesses.

Due to the show’s sterling reputation within the B2B events community, 25,000 tenacious entrepreneurs and business owners will flock to The Business Show. All on a mission to source the latest services, solutions and strategies to take their business to the next level.

World-renowned Speakers & Business People

Renowned for acquiring a calibre of attendee unmatched by any rival show; over the years the exhibition has attracted industry legends looking to discover the latest business innovations to stay ahead of their fierce competitors. This list includes James Caan, Lord Alan Sugar, Peter Jones, Touker Suleyman and many more.

business dragons

The Business Show continues to be at the forefront of all other business exhibitions, from Apprentice winners to a plethora of dragons from Dragons’ Den, from the head of B2B marketing for Google UK to even the chairman of Crystal Palace F.C, our show consistently attracts the industry’s most relevant speakers and – as you can see – November’s speaker lineup is no exception.

See full keynote line-up here

Learn how to Grow your Business

With 350 visionary exhibitors showcasing the latest products, systems and services transforming the business world, our show allows more SMEs and startups to connect with more sought-after suppliers than ever before.

Every one of our 250 seminars features up-to-date content, based on current UK business trends. We have attracted a vast array of world-class speakers working within the health and fitness industry – a sector that has grown in popularity over the years – including; Peter Roberts, the founder of the largest gym operator, PureGym; and founder of LA Muscle Parham Donyai.

Our phenomenal lineup of speakers also consists of success stories that would inspire any ambitious business owner. Levi Roots will be here to provide you with the insights into how he became one of the most iconic and charismatic figures in business world. James Gold, co-founder of Skinnydip, will discuss how his creation of the phone case accessory helped him develop one of the most successful privately-owned companies of this generation. Ben Towers, who has been named by Richard Branson as “one of the UK’s most exciting entrepreneurs” will share his journey to becoming a multi-award winning business owner by the age of 19.

Business Show_Olympia_Main

Your Free Ticket

Your ticket grants you access to more than just the seminars and suppliers. November’s instalment of The Business Show will play host to an endless array of features including the Google Digital Garage; which offers free digital skills training to people looking to grow their business, their career or their confidence online. If you register for a free ticket, you can even book a one-to-one mentoring slot with the world’s most influential business via our website, but you need to make sure you book in advance!

Over the two days visitors will also have access to 15 masterclasses; whether you’re looking to expand your knowledge of branding, digital marketing, e-commerce, trading or franchising, we have got you covered. You will gain all the information and guidance you need to achieve the business growth you desire.

To ensure you make the most out of your visit we have split the show into six different zones; the Startup Zone; the Marketplace; the Finance Zone; the Digital Zone; Going Global Live; and for the very first time, the Legal & HR Zone. These zones have been carefully crafted to provide expertise across all sectors of the business world.

To top it all off, the show offers visitors unrivalled networking opportunities; our Speed Networking Feature located in the SME Zone allows you to make 40 new contacts in just 40 minutes! It is the quickest and most efficient way for you to add potential suppliers, clients and partners to your contact list, but seats to this free feature are first come, first serve so make sure you get there early to secure your seat!

business show tickets

If you’re looking to start, grow or expand your business then you must register for a ticket to The Business Show, and you will have an opportunity to experience an exhibition like no other. Attending this event could define the future of your business, so what have you got to lose? Register for your free ticket now!

Click here to register for your complimentary tickets

Thanks to Shane Ransom and the team for writing this post.

Hope to see you there!

How to Update Your Investors for best results

Investor Updates: Why? How? When?

What you’ll get from this post:

  • 1. Why you should update your investors
  • 2. A template for great updates
  • 3. Example updates from fast-growth companies like Sweatcoin and ScreenCloud

“We connect entrepreneurs and angel investors.”

That’s our tagline at Angel Investment Network. We’ve been doing it for 14 years so it makes sense! We help make the initial connection that results in feedback, meetings and often investment. Startups get the funding they require. Investors get access to great and diverse deal flow.

But as a result of this, most of our advice and guidance focuses on the early part of the fundraising journey: how to meet investors, how to value your idea, how to find great deal flow, how to invest etc…

This is useful (we hope!). But only as far as it goes. There’s a danger this gives the impression that the relationship between entrepreneur and investor only needs to be fostered at the very start.

This is not true, of course.

Why?

Investor = Evangelist

Any investor in your company can be an evangelist. And an important one. The best investors are not those who sit silently hoping their portfolio grows. They are the people who bring to bear all their resources to help their companies grow. But there is no guarantee they will always do this just because they invested.

It’s down to you to keep them engaged. Your updates will give them the inclination and the material to shout about you to their network.

Investor = Wise

Sure, you wanted investors for their cash. But if that was all you wanted from them, it was short-sighted. It’s a truism about angel investors that they bring more to the table than money. A good angel will have a wealth of experience in business and hopefully your sector.

But they are busy people with active interests all over the place. You’ll only get their attention if you engage them enough to deserve it.

So, let them be a light for you when all other lights go out.

Investor = Capital Mine

Some businesses only need one funding round. Some businesses go through many as part of their growth strategy. It’s not always clear which business yours will be. But it would be naive to think that you’ll never do another round.

And who are likely to be your hottest leads for later rounds?

Your existing investors of course!

They will want to avoid dilution and help the company in which they’ve invested grow. Additionally, they will want to bring on more people to invest. It’s in their interest, after all, to support the company in its growth.

That said, there’s no guarantee they will want to invest more or bring their friends on board. If you haven’t fostered the relationship and kept the excitement burning, they may want to cut their losses.

But, if you’ve kept them sweet with exciting updates, they’ll be champing at the bit to buy in and involve their network.

Finally…

It’s good business practice to update your shareholders regularly. (Once a month is optimal and what the companies in my examples below go for). Good habits breed good habits. The more you force yourself to go through the motions of running a business properly, the more ably you will run the business, until it’s second nature. And, all of a sudden, you’re a business leader.

investor update

So, how then should you update investors?

It’s quite easy really. There’s a formula you can follow each time. Just have the relevant info ready for each section and input when your update is due:

Intro:

Open with some positive statement about the exciting times the company has been going through since the last update. This should set the tone of the email.

Overview/Highlights:

Investors are almost always busy people. There is no guarantee that they will read your whole email. In this overview, give the main points you want to put across. This should give them enough info to feel enthused about you and their investment without having to read more. It also serves a secondary purpose – it should entice them to read the rest of the email!

e.g.
– Revenue is up XX%
– New Product ABC is in the final testing phases. Watch this space.
– We closed two new major partnerships with Huge Brand X & Huge Brand Y.
– Big Deal XY joined the team/board. He/she will….

Key Metrics:

Your key metrics are the figures that show your concept works. They are the essential validation on which investor confidence hangs.
These figures will differ from company to company, but your presentation of them is the same.

e.g.
We’ve seen impressive momentum across our key metrics. KPI 1 has grown XX% month-to-month. KPI 2 has grown XX% month-to-month. We are on course for a huge {insert current month}.

This information can be displayed in a graph. Hopefully, one that looks like this:

update graph

Fundraising:

If you’re raising money, give details. You may want to indicate the impressive people/funds you are in talks with; and how far advanced the talks are.

You can also include your latest deck as an attachment. And invite them to take a look. Don’t forget to engage them directly by asking for feedback or to share with any contact who may be interested.

Learnings:

Investors may also be interested in your personal growth as a management team. So, details of any findings from tests, campaigns and product launches will make interesting reading. They may also encourage investors to give advice.

Team:

If someone on the team has had a big impact, you could shout about it here. The employee will thank you for it! It also adds to the general impression of accomplishment and progress you should be conveying throughout the whole email.

a-team_logo update

Future:

What are the plans, challenges and targets for the next period? Keeping the goals of the company in front of your investors is a great way to keep them aligned with your interests. And it will demonstrate that their investment is in competent hands.

Don’t hold back from requesting advice on any of the challenges ahead. Delve into the acumen of your investors and all the while keep them engaged.

There you have it. An important task fulfilled with minimal hassle.

It’s important to note that this formula is not prescriptive. Only mention sections that are relevant. There may be sections specific to you that you want to add too.

These emails do not have to be long (more on this in the examples below). Short and sweet will suit investors. But make sure you cover the essential details so investors don’t feel shortchanged.

There is no excuse. And, as we’ve seen, the upsides are huge.

Some Real-world Example Updates

This update from Sweatcoin is a masterclass in keeping it ‘short and sweet’. No bluster. No fluff. Just hard traction. It’s easy for them because they are growing so fast (they’ve added another million users in the last month!).

(Make sure you zoom to 90% or so to read it clearly).

Click to view Sweatcoin investor update

ScreenCloud’s is a longer piece which follows our update template more closely, making good use of HTML to give clear structure. Note how they give that important overview section for those who don’t read long emails!

Click to view ScreenCloud Investor Update

It’s worth saying that both companies do a good job of creating a sense of excitement and progress. They go about it in different ways, perhaps due to time constraints and what they find manageable. The point is that the info and the impression put across in both is excellent.

N.B. All this advice works as a template for keeping prospective investors interested; and investors you never closed too – make them feel like they missed out!

That’s all for now. Hope you found this useful!

Sceptic to Champion: Air Ticket Arena on Angel Investment Network

Fundraising on Angel Investment Network – A User Story:

Kresimir Budinski first reached out to me through LinkedIn. He is the founder of Air Ticket Arena – the first fully-automated platform allowing passengers to bid for unsold seats on scheduled flights; and helping airlines to recuperate some of the £120 billion in lost sales each year through unsold seats.

He recently closed a £350,000 of seed fundraising through Angel Investment Network.

Kresimir, or ‘The Bishop’, as he is affectionately known by his team, complimented me on my article about SEIS & EIS Tax relief. He had apparently used it as an explainer throughout his fundraising. Both for investors he had found through Angel Investment Network and other channels.

I thanked him and wished him luck with the fundraising. And we left it at that.

Messages like this are relatively frequent (depending on the quality of my article!). So I didn’t think any more of it.

But I was to hear a lot more from Kresimir and the story behind his fundraising. A few months later, pleased with his progress (now overfunding), he shared his fundraising experiences with me in full. It struck such a chord that I had to share the story.

It’s a tale of how courage through scepticism can bring great opportunity. And it’s a useful case study for anyone considering looking for investors on the Angel Investment Network platform, and more importantly, for anyone fundraising in general.

So, in the charismatic words of their Head of Marketing Grgomir ‘George’ Garić, the story of Air Ticket Arena’s fundraising journey from intense initial scepticism to success….

Air ticket arena fundraising

Part 1: Fundraising Scepticism

I had always considered investors a type of mythical creature, living somewhere in a distant fantasy land, creasing themselves with derisive laughter at most investment proposals. By investors, I mean real investors who can offer advice as well as capital. Not just people who masquerade as investors because they have a bit of cash.

Of course, I had heard about the likes of Facebook, Uber, Airbnb, and hundreds of other projects backed by investors – but I had never met anyone who would actually boost my bank account.

Except for my wife, of course.

In my life before Air Ticket Arena, I had met many who claimed to be investors. But few of them understood the symbiosis required between entrepreneur and investor to make a partnership mutually motivating. The interaction between idea and capital needs to be good for both the idea and the capital. The idea needs to grow and so does the value of the capital.

Too many investors wanted to buy into projects at way below the value of the idea and all the preceding hard work. They refused to realise that this was not optimal for the business and therefore not optimal for their investment.

Given these early experiences with “investors”, my approach to any kind of investor was always going to be like visiting an 18th-century dentist. Suspicious in the extreme.

Part 2: Misplaced Hope

So, when I started working on Air Ticket Arena and Kresimir, suggested fundraising our seed round through Angel Investment Network. I thought it was the beginning of the end.

I sincerely believed that Angel Investment Network, despite their 13-year history and impressive track record, was just another portal where anyone – even my mother – could masquerade as an investor.

So why did we go with them?

Sometime in 2009, a seemingly beautiful thing happened. Kickstarter kickstarted. This was the first time I had heard about crowdfunding.

The theory seemed inspired to me. This was a real innovation in the investment scene which promised a more efficient process for both investors and entrepreneurs. And promised to harness the power of the crowd with all the social proof that can bring.

Then equity crowdfunding platforms like Crowdcube and Seedrs emerged. Icing on the cake. Or so I thought.
Fundraising through crowdfunding

I had heard complaints about these platforms from founders who had tried them. But I dismissed them as over-fussy.

When Kresimir asked me to prepare a crowdfunding campaign on Crowdcube for Air Ticket Arena, it was a joyous occasion and I dove into the work with relish.

We prepared almost everything for the campaign and then one week before the launch, Crowdcube refused us. Their reason? We didn’t have a high street bank account. Right.

Not to be deterred, we immediately approached Seedrs hoping to re-purpose the material we had put so much effort into for the Crowdcube campaign. After a 15-minute call, they claimed that our valuation was too high to run.

My high hopes were thoroughly misplaced and I found myself floundering in a sense of gloom about the prospects of fundraising. Not simply for myself, but also for other regular people who do not have access to investors through their personal network.

It was in this state of despondency that Kresimir insisted we chance our hand on Angel Investment Network. You can imagine my reaction.

I already considered this platform inferior to the likes of Crowdcube and Seedrs who had just thoroughly disappointed me.

Thus, it was without much hope and intense reluctance that I agreed to create a pitch on Angel Investment network…

Part 3: Faith Rewarded

fundraising

Six months later, we have raised £350,000 and filled our seed round. The strength of the discussions means that we are now overfunding as I write this.

At this point, while we enjoy the security of fundraising mission accomplished and while the experience is still fresh in our minds, I thought it might be helpful to share some key findings from our campaign on Angel Investment Network.

– Are the investors active and real?

Most of the investors we spoke to were active and engaged in the investment community and had the capital to invest. Even those investors who did not ultimately invest provided useful feedback for us with which we were able to improve our pitch and even our business. The platform also monitors the activity of investor users. Anyone suspicious is removed pending investigation.

– How can I tell if an investor is really interested?

It will be straightforward to identify investors who are seriously interested. They will have read your pitch in detail and will ask the most pertinent questions so will stand out from the others.
It is also very important to do your own due diligence of any investor contact – you can be sure they’ll be doing it on you. So, don’t be afraid to ask people to identify themselves if their profile is not clear.

– How can I keep prospective investors interested?

When you are happy that a prospective investor’s interest is genuine, engage in dialogue with them in a clear manner. Your job is to clarify what you have written in your deck. Keep focused on it. Try to also give the impression of progress and momentum – update investors you’ve not heard back from as well as ones you actively talking to.

– What should I say about valuation?

Avoid any talk about valuations after a one-minute talk or a first email response. Send an investment package and give them up to a week to investigate the opportunity. An excellent counter-question is to ask them how much they want to earn? None of them gave us an exact answer.
When you do come to declare your valuation make sure that your reasons for it are clear and grounded in the reality of the space in which you are operating.

– What sort of investors should I aim for?

Expect that your investors will more likely be from a similar industry to your project. If it is a project from the travel industry, then more than likely the investors will come from the travel industry. These investors will certainly be most helpful to you. However, there are many investors who are interested in investing in an area but are not necessarily experts e.g. Bankers interested in AI. So be prepared for this too.

– Do I need to have all the legal stuff prepared?

Make a clear legal pathway for investors who make you an offer of investment. Your investment contracts need to prepared and ready to send. An offer is never really finalised until all the forms are signed and the money is in your account, so you don’t want to have any delay in sending over the necessary documents when an investor declares an offer.

– How much effort is required?

Prepare to invest time and some money to ensure your pitch is as good as possible and that it gets the exposure it needs to raise the capital you need.

To be successful your pitch needs to be excellent and you need to market it well. We wrote 50+ articles explaining our concept from a variety of angles which we shared across social media channels. Angel Investment Network were very willing to re-share these posts which helped to create a buzz.

What I want people to understand from our story is that anyone with a good idea can raise money from angel investors. It requires dedication and hard work, but so does running a successful business!

At this point, on behalf of the whole team at Angel Investment Network, I’d like to thank Kresimir, George and the guys at Air Ticket Arena for taking the time to share this. All the best with the business!

Want to know more about Air Ticket Arena?

Check out their explainer video below:

Want to share your experience on Angel Investment Network and get featured as part of this user story series?

Please contact me on oliver@angelinvestmentnetwork.co.uk or on Twitter

AIN on IntelligentCrowd.tv

Xavier Ballester, the co-director of our brokering division, appeared on Intelligentcrowd.tv offering some pearls of wisdom to investors and entrepreneurs alike, including:

– How we evaluate startups worth working with
– Why we exchange part of our cash success fee for equity shares in our clients
– Recent exits and hot prospects including Brightnorth, Superawesome and What3Words
– How we raise money for our clients

Check out the interview below:

Proposal Tip of the Week

For no other reason than today is the first day of a new leap year cycle, I’ve decided to add a new feature to this blog. Each week I’m going to write a short post offering easy-to-implement advice on writing a fundraising proposal to investors. There will be a slight steer to benefit those entering proposals on , but I promise that the advice will be easily applied wherever you’re submitting a proposal.

I read hundreds of proposals a day. Literally hundreds of the things in the form of: pitch decks, executive summaries, investment site templates, incubator/accelerator templates, you name it. There’s always more to learn, but by now I’ve got a pretty good idea of what investors love and what they loathe when it comes to fundraising proposals.

So here’s Tip #1 “Never leave the best till last”

Put your most impressive information FIRST.

Investors like the rest of the world read from beginning to end. Well, not quite, often they never reach the end because they get bored. If this happens and you’ve left your most impressive piece of traction till the end, they’ll never know how great your company is. If you want to end on a positive note, simply repeat the positive note with which you started your proposal!

Grab their attention from the start. If you’re using or planning on using Angel Investment Network’s proposal form to showcase your business to prospective investors, this is why they recommend including attention-grabbing details in the ‘Short Summary’ section.

Take it to heart, learn it, stick it to your fridge, apply it…

Fundraising Event Report: Last year’s successes encourage this year’s investors

Last Tuesday we held our first fundraising event of the year at the Olswang offices in Holborn. Treated to a complimentary feast of canapés and drinks on the top floor, investors enjoyed pitches from 7 of the hottest UK startups.

James Badgett, Founder of Angel Investment Network, opened the proceedings by calling to mind some of the notable successes from companies who pitched through us in 2015 as well as the general growth of our site.

Here’s an overview of what he said:

Our Website in 2015 – The Numbers
– Reached 450,000 registered entrepreneurs
– Reached 100,000 registered investors
– Averaged 1380 new proposal submitted each week by entrepreneurs
– Over 2 million proposal views
– 75,000+ connections made between investors and entrepreneurs looking for funding

Companies that Pitched in 2015 – Where are they now?

SuperAwesome, a child-safe marketing platform, completed a funding round with us at a valuation of $3million and subsequently completed a $7million raise at a valuation of $25million. They are now raising at a valuation of $70-100million. That’s a potential return for our investors of 20-30 times in a little over a year!

What3Words, an extraordinary piece of software that’s changing the world’s address system and for whom we filled the seed round, recently received $2million from Intel Capital. They also won the Innovation Grand Prix at the Cannes Lions International Festival of Creativity.

Acquisitions:
As covered in a previous blog post, Uncover were acquired by Velocity resulting in strong, quick returns for our investors.

Draper & Dash, a high-end business intelligence company with an absurdly impressive track record, and PASSNFLY, an innovative airport check-in application, are both under offers for acquisition.

After this introduction, it was fascinating to observe the investors sit forward in their seats and treat the latest cohort of entrepreneurs pitching to their undivided attention!

The future is certainly looking rosy for both investors and entrepreneurs…

Latest Success Story: Numecent announces $15.5M Series B Investment

Cloudpaging leader, Numecent, have just raised $15.5M in series B funding bringing their total investment accrued to approximately $38M.

We first encountered Numecent back in 2012 when they approached us looking for seed funding for their cloudpaging technology concept that enabled native Windows applications to be delivered from the cloud. We were impressed by the fact that Numecent’s clients would have no need to download or install any software on a PC at all; and, applications would be delivered 20-100x faster than a conventional download.

We raised them £900k in seed funding and are now delighted that their promising technology is continuing to receive the recognition and investment it merits. On top of the Series B funding, Numecent was named a winner of the Red Herring Top 100 North America award, was chosen among the top 20 virtualisation solutions by CIO Review magazine and was cited as one of the 12 data-centre technology companies to watch by TechTarget.

Want to know more about Numescent? Watch the video below:

Calling all UK angels to help with a quick survey

Hi everyone,

We’re helping out with a research study on angel groups in the UK.

The study is being conducted by Tiago Botelho and Prof Colin Mason from the University of Glasgow’s Adam Smith Business School, and should allow us to see how our members see syndication in general and how we can improve our network.

We’d be really grateful if any UK angel investors could take the time to complete the survey (it is completely anonymous and should take around 10 minutes).

Here is the link for the survey, which will be open until the end of June:  https://qtrial2014.az1.qualtrics.com/SE/?SID=SV_ehryzeOsCGAS4hT

Also, it would be great if you could share this link with any other UK angels that you know.

Barbara Corcoran’s Angel Investor Checklist

Shark Tank star and angel investor shares the hard-hitting questions she asks entrepreneurs before investing in their business.

Jeff Clavier on how to be an Angel Investor

Leena Rao interviews SoftTech VC Jeff Clavier about the way he became an angel investor and how to become one yourself at Disrupt SF 2011 day three.