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Investor Networks - Feedback?

  • 05-01-2017 8:21am
    #1
    ironclaw
    Registered Users, Registered Users 2 Posts: 8,004 ✭✭✭


    Hi Folks,

    Asking has anyone had success with investor networks such as https://www.irishinvestmentnetwork.ie?

    Thanks!


Comments

  • #2
    Dades
    Moderators, Society & Culture Moderators Posts: 25,558 Mod ✭✭✭✭Dades


    I have limited experience of HBAN, but not your crowd.

    Would also be interested in hearing if anyone has dealt with them.


  • #3
    ironclaw
    Registered Users, Registered Users 2 Posts: 8,004 ✭✭✭ironclaw


    Dades wrote: »
    I have limited experience of HBAN

    Any words on them in the general sense? I'm sure you can't be too specific. I'm just wondering are we looking at months of talks or are things generally fast paced?


  • #4
    Dades
    Moderators, Society & Culture Moderators Posts: 25,558 Mod ✭✭✭✭Dades


    Months of talk. Unless you have a cracking business plan that meets all their criteria. They try to ensure that you aren't wasting your, and the investors' time before you ever get a shot at making a presentation at one of their meetups.

    All the businesses are vetted and only a certain percentage will get to that stage. I think there's a general preference for businesses who are trading and already have revenue, rather than concepts or seed ideas. They also lean towards companies whose runners already have their own financial skin in the game.

    Definitely helpful though, if you can get a meeting with one of their consultants.


  • #5
    PARlance
    Registered Users, Registered Users 2 Posts: 21,512 ✭✭✭✭PARlance


    Dades wrote: »
    Months of talk. Unless you have a cracking business plan that meets all their criteria. They try to ensure that you aren't wasting your, and the investors' time before you ever get a shot at making a presentation at one of their meetups.

    All the businesses are vetted and only a certain percentage will get to that stage. I think there's a general preference for businesses who are trading and already have revenue, rather than concepts or seed ideas. They also lean towards companies whose runners already have their own financial skin in the game.

    Definitely helpful though, if you can get a meeting with one of their consultants.

    I would echo most of this, it will help if you're on board with the likes of Enterprise Ireland. It will cut out a lot of the work as they'll know your going / gone through the ringer with EI (validation etc). But all in all, you'll be doing well to secure funding within 9 months. It's a beneficial process if you get the right investor asking the right questions and challenging you.

    Once you get your slot, you pitch to a room of 20-30 angles. They meet afterwards and interested investors will generally group together, appoint a lead and progress to further fact finding, due dillegence etc. Bloom Equity is a similar idea / setup.

    You don't necessarily need to be trading, I found that some of the potential angels preferred concepts.... all about the viral etc etc noise. I witnessed one angel suggest a shift from a profitable model to a free one so it would "go viral".... his €50,000 or so that he would invested have sustained that for a few months. There are a few tire kickers within the groups. While it's hard to turn down any interest, save yourself time by doing some due dillegence on the investor.


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