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How To Get 100K From The Government - Irelands Startup Wiki

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Foreword
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Startups are adventures you undertake without a map. As a
founder, it's your job to navigate your company through a
treacherous and shifting landscape. Who are your customers,
where can you find them, what features do they want, how much
will they pay and where will you find the talented staff you need?
Being a founder means picking a quick but careful path through
these endless unknowns, hoping to reach a profitable destination
before you run out of cash. As a founder, you know this already.
It's the mission you signed on for. What you find frustrating is
getting mired in the funding maze before you even get started.
We live in exponential times, where it's possible for a lone
programmer to create a useful app in days and get it into the
hands of millions of people before a venture capitalist has time to
return an email. The capital required to start a business has
dropped, and in the case of digital businesses, has plummeted.
Nonetheless, getting your hands on that initial capital can be a
major hurdle. We're lucky in Ireland to have so much startup
funding available, relative to our population. However, much of it
is ultimately public money, and accessing it involves dealing with
some inevitable bureaucracy, essential for public accountability if
nothing else. Unfortunately, many young startups end up lost in
this grant funding landscape, instead of the market landscape
where they belong. There are too many companies surviving from
grant-to-grant, focusing their energy on unlocking the next drip of
public funding. Although they feel like similar challenges, working
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to please a grant administrator instead of your customers is in
fact a path to failure.
This guide, and perhaps its future editions, is a map through
the grant funding landscape, so that you can get on with the
business of bringing your products to market. You can use it to
get as much capital as possible, or to weigh the benefit of a grant
against the opportunity cost of pursuing it. Play the generous
grants system to take your business to the next level, whether
that be seed funding, venture funding or profitability. Grants are
there to be used by entrepreneurs, who will be truly responsible
for bringing wealth and employment back to Ireland. - Sean
Blanchfield, CEO of Scale Front. Scalefront.com
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Introduction
What we want you to get out of it
When myself and John started Bullet, we wanted to share
our experiences from the outset, warts and all. We launched
Bullet with a total spend of about €1,400 and about a year and a
half’s hard work, really hard work. Some of the new skills we
learnt in that year were: regulatory tax, UI & UX, design, PR &
marketing, not improved them, learned them from scratch.
From the outset we wanted to bootstrap the business. It
made us focus a lot on the customer, and we’d also learned how
constraints make for a smarter startup. In that time we’ve
managed to automate accounts, something people have tried to
do since the abacus. We created an application that thumps
Sage’s 50 million �Sage One’, and easily out-dances Xero’s 100
million bookkeeping tool.
The key constraint we encountered in the early days was
time. Even in leanest bootstrapped companies you need money
to keep the lights on and the credit card companies at bay and
ideally that money has to come from a source that won’t distract
you too much. Without the money from the government would
we be here? Of course, we’re determined to take on one of the
biggest industry incumbents in Europe. Would it have been more
stressful? Certainly. That being said, we think the whole funding
process could be executed in a simpler way, and the purpose of
this e-book is to fix it’s biggest problem: fragmentation.
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If you think filling in some forms to get money from the
Government is painful, wait till you’re raising money. Wait till
you’re trying to convince customers to hand over their hardearned cash. Wait till you find out that amazing product you built
doesn’t fit the market you’re selling it to. That’s hard. As Dylan
Collins says: �Man up’.
We’ve spent about a month putting this little book together
with the help of many, so we’d like to thank all those involved.
There is a great community of people out there happy to help
with any kind of question, and it’s a community all of us here at
Bullet are proud to be part of. We hope this document takes
some of the stress out of navigating the grants scene, and helps
you to keep focus on your customer. Always question, always
learn, and don’t die while there's music inside.
The landscape, and assumptions we’ve made
This e-book is tech focused. The calendar infographic is
based on data we have obtained from direct correspondence
with the Dublin City Enterprise Board, Enterprise Ireland and the
New Frontiers programme, as well as our own (and the
community’s) experiences. While some of these bodies haven’t
set exact dates for future application deadlines, we worked from
past deadline dates and ballpark predictions from the bodies
themselves. This means that we can be 95% all dates are correct,
but it’s impossible to be sure when exactly each deadline will be
set.
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We also worked under the assumption that displaying the
quickest possible route through the grant landscape would be
more useful to more readers. This means that the infographic
shows how fast you could max out grants if you wished to fund
your business asap. That is obviously not to say that all grants
must be spent immediately, but for instruction purposes it is
clearer to present the information in this way.
Due to length constraints we haven’t been able to include
details for all the County Boards, so some info will only apply to
startups in Dublin. We do have all this info available, so anyone
based outside Dublin can contact us and we’ll set you straight
([email protected]).
When picking dates we anchored everything around the
New Frontiers Programmes, they offer by far the best cash flow
for bootstrapping (sadly, less than 50% of what it use to be).
We’ve kept away from R&D, and BES (or whatever it’s called
now) schemes as they’re complex, and you’d be better offer
working with a consultant on these. We’ll tackle them at a later
date.
We’re looking at putting together community meetups to
explain some of the things we can’t in this doc, if you think that
would be of interested let us know ([email protected]).
About Bullet
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Bullet is an online company that focuses on automating task
to insure startups focused on growth can focus on exactly that:
growth. Bullet was founded in 2010 by John Farrelly
(@johnnyleitrim) and Peter Connor (@peterconnor). BulletHQ
comprises two products; Bullet Online Accounting and Payroll (a
fully automated accounting and payroll system for growth
focused startups) and Bullet Formations (a free online product
that allows companies get their formations documents complete
in 3 minutes). Bullet has grown to a team of 6, all active in helping
founders to be smarter at starting up.
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Funding Checklist
Here are some of the things you need in place to before you
can apply for some/all of the grants. Set aside about a month or
month and a half to look after the 4 points below (We’re in the
top 5 easiest countries to set up a company - so stop cribbing).
Do in this order
1) Registered as a limited company. You can get your free
company formation documents here.
2) Be registered for all taxes - Here’s simple guide to that. Yep, I
said simple.
3) Have tax clearance certs for all founders getting a grant. See
link point 2.
4) Have a corporate bank account setup. Give this 1-7 weeks.
You’re getting money for free, don’t ever forget that. If you think
dealing with agencies is hard, wait till you have to deal with VC’s
(who are gambling their careers on you). If you hit a wall with
someone or have a personality clash, just look for someone else
in the organisation.
They don’t like you pivoting mid programme, so if your business
pivots don’t tell them unless you’ve got traction in that new pivot.
Crazy I know; the beginning of your journey into business should
be 100% focused on product market fit. I’ve yet to meet anyone
that has hit that nail on the first go. If you don’t get your fit right,
no amount of funding or marketing is going to help you. So stick
to the original business plan that they like, and don’t budge. As
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you get higher up the ranks this will change. Think of it as a good
thing, you can keep the same business plan and pitch.
Focus on job creation, you’ll get asked a lot about this.
Remember this is so the politicians can defend the spend, so it’s
just part of the agencies rep’s job. Sure it’s a ridiculous question
to ask a startup, so answer it with great plans for hiring 20 people
from the Gaeltacht (joke).
Don’t piss people off. A lot of the grants are connected to each
other. If you have a go or annoy someone, you’re closing the
door on everything else. So bitch at your co-founder, not at your
co-funder. 95% of our experiences have been good ones. As
always, if you keep hitting a wall then the problem is you.
You’re not meant to be working while you're claiming grant
money, but seeing as we don’t live in Poundland and your
customers don’t work to EI’s timeframe you might have to do a
bit of consulting. Keep it to yourself.
�I can’t believe they won’t let me spend 20k on marketing’. Good,
you're a muppet if you think that’s a good idea. If you can’t learn
to build traffic then you’re never going to succeed. And if you
think some marketeer can, then remortgage your house and pay
for it yourself. Marketing is hard to learn and you’ll fail a lot, but it
can be learned. We’ll be writing a lot about early stage growth
and demystifying some of the nonsense out there on the web
(like these posts on �How Lockitron made millions with their own
crowdfunding platform’, or �DropBox: the viral lie sold to every
startup’.
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We’ve left the contacts generic, in case people leave or move. In
the workshops we’ll drill into this a bit more.
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List of Funding Activities
Dublin Business Innovation
Link: http://ow.ly/iURV1
Funding source: Enterprise board
Grant type: Help with business plan
Bullet’s Tip: �The feedback is that you shouldn’t hold your
breath when dealing with DBIC. Bullet hasn’t used them so we
can’t speak personally. EI pay to have you business plan vetted
by DBIC, so if you're looking to go the whole yard with EI the
sooner you can get the �EI Trust Stamp’, the better. So use them,
but don’t wait.
Feasibility Study/ Innovation Grant
Link: http://ow.ly/iURZs or your local council
Funding source: Enterprise board
Total amount receivable: 50% of costs excluding VAT capped
at €7,500
Timeline & Key dates: All costs must be claimed within 4
months of approval which is 1 month after application for
decision. The board meet once a month (9 times a year). Claims
must be made within 4 months of board approval date
Bullet’s Tip: �We hear great things about the feasibility
grant, it’s approved fast and doesn't have a lot of the crazy
restraints some of the other grants have. There is zero payback,
so great to prove a concept. Due to the way EI run their funding
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in a concurrent manner, a lot of people jump over Feasibility
Study and are then too far gone to claim it.’
Refundable Priming Grant
Link: http://ow.ly/iUS3c or your local council
Funding source: Enterprise board
Total amount receivable: 50% of costs excluding VAT average
amount €15,000
Employment Grants: 7k per employee (you don’t have to pay
back)
Timeline & Key dates: Claims must be made within 6 months
of Board approval date 1 month after application for decision.
Board meet once a month (9 times a year). It’s for businesses
less than 18 months old. Costs covered are capital and or salary
costs. Where a priming grant includes salary costs the first
installment is made within 2 months of board approval date and
the second installment along with all other approved expenses is
paid 6 months later from the date of the cheque from the first
installment. There must be a break of a minimum of 18 months
between the drawdown of a Priming Grant/ Loan and an
application for a Business Development Grant/ Loan
Bullet’s Tip: �This grant ain't too easy to get and has a lot
of rules, but the 7k per employee is good although you get half
the 7k up front and the rest at the end of 6mts which is crazy,
employees have to be full time. You’ll need to register yourselves
as employees with tax clearance certs of the company so don’t
forget to look at our checklist above. There are lots of rules in this
grant that don’t make a lot of sense. For example, as a tech
startup you really just need runway for yourselves, so it’s
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probably more suited to traditional businesses (�shifting stuff in
boxes’), but the employment grant will give you runway.
Innovation voucher
Funding Source: Enterprise Ireland
Link: http://ow.ly/iUS6M
Total amount receivable: €5,000
Timeline & Key dates: applications from March to September
2013 (maybe again). Decision process usually 4-5 weeks. 50-50
co-funded Fast Track applications: may be submitted anytime.
Decision process 10 days.
Bullet’s Tip: �We love these guys, a quick two pages
application and you get 5k to spend with a 3rd level uni.
We’ve had (and heard of) some terrible experiences with lazy
colleges. The best two in our experience are DCU
(http://www.dcu.ie/) and Dun Laoghaire (http://www.iadt.ie/en/).
You can get about 3 innovation vouchers, we used all of ours. I
can’t speak highly enough of the DCU crew, you should also
check
out
their
seminars.
Top
class.
http://techspectations.org/.’
New Frontiers Entrepreneur Development
Programme
Funding source: New frontiers
Link: http://ow.ly/iUSac
Total amount receivable: succession to phase 2 includes
€15,000 grant
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Timeline & Key dates: 2 programmes run per annum start
dates 6 months between (usually March, September). Application
decided on within 2/3 weeks of the closing date for applications.
Phase 1: Group of 25 for 2 months 14 get through to Phase 2
which runs for 6 months (you get your money here). Phase 3: 10
participants from Phase 2 get picked for the last 3 month phase.
Bullet’s Tip: �This is by far the best way to get money. You
do a 2 month intro course and then 10 get picked to go to phase
2. From there you get 15k over 6 months (last phase you don’t
get money). It’s a huge lifeline for a startup. You attend school
(you’ll know what I mean) once a week and you’ll get some
training around everything from sales to accounts.
Seeing as market fit is the most important thing for a startup,
it’s a shame they just don’t focus on that. Have the sales trainer
and marketer work with you for the 6 months till you get it nailed.
Could you imagine how much value it would give you as a
founder if you spent a day a week with someone coaching your
selling technique on live sales calls. If would force you to find out
about product fit faster, build up your confidence and get you
customers.
Refundable Business Development/ Expansion
Grant
Link: http://ow.ly/iUScI or your local council
Funding Source: Enterprise board
Total amount receivable: 50% of costs excluding VAT average
amount €20,000
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Timeline & Key dates: Claims must be made within 6 months
of Board approval date. 1 month after application for decision.
Board meet once a month (9 times a year). For businesses older
than 18 months.
Bullet’s Tip: �We put out the word to get some feedback
on this grant, but didn’t hear anything so, don’t have much to
add. Any tips shoot them to [email protected]
Competitive Start Fund
Funding Source: Enterprise Ireland
Link: http://ow.ly/iUSfo
Total amount receivable: €50,000 for a 10% ordinary equity
stake
Timeline & Key dates: applications will open each quarter and
close one month later
Bullet’s Tip: �This is a really popular fund to go for, and the
feedback is that you need to apply about 3-4 times (with pitch)
to get a spot. That’s not always the case, but it’s what we’re
hearing. The form (online) which you have to fill out is a pain in
the ass. It times out and messes up all your formatting. Also,
the scoring and feedback isn’t very consistent. So say you get
rejected on attempt one, the feedback (which is a great idea)
will be �...Change X to Y’. So you pitch again and get rejected,
the feedback will be �...Change Y to X’. I know it’s silly, but it’s
a great deal 50k for 10% of ordinary shares with no crazy rules,
and all for relatively little work. *I know technically this isn’t free
money, as you’re giving away equity.
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What the experts say
In order to make the smartest funding decisions it’s always
good to get some impartial expert opinion on board. We asked
some of the wisest and most battle-hardened figures on the Irish
startup scene for their input. We came up with four questions we
think would be most useful to startups - what we wish we had
known. We based our questions around how much money is
needed and how best to deal with equity holders, Angels and
government bodies.
Michael Birch
@mickbirch
Bio: Computer programmer
and entrepreneur. Co-founder
of Bebo and Birthday Alarm.
Cash strapped startups often use equity as a means to get
other people on board. This can lead to terrible problems
when you realise the person is the wrong fit. What would
be your advice to get around this?
�Getting the right investors is critical. Do everything you
can to get to know investors before agreeing to investment,
ideally they should add value in addition to the capital, but at
the very least they should not prove difficult. Ask about other
investments they've made and reach out to the CEO's /
founders of those companies yourself to understand what role
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they played post investment. If you can arrange to speak with
them on the phone it's surprising how honest they'll be.’
With up to €100,000 available from enterprise boards,
should you go with Angels after obtaining this funding or
wait until you need more money?
�It's best to obtain money when you don't need money.
Waiting until you're out of money again is not a strong position
to be in, unless you've really proven the product in the
meantime. Product development always takes longer and
requires more money than you expect.’
Sean BlanchField
@seanblanchfield
Bio: Technology founder,
investor, mentor and startup
community organiser. Cofounder of DemonWare, Front
Square and Scale Front.
With up to €100,000 available from enterprise boards,
should you go with Angels after obtaining this funding or
wait until you need more money?
�Yes, for most digitally-based ideas €100K is loads to get
it to the next level (seed funding in the 500K-1M range). An
ideal team is 2 people, which isn't much to cover. There are
generally minimal fixed costs. We do this a lot at Scale Front,
and probably find that it takes about €30-€50K (although we
are very efficient about it).’
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Cash strapped startups often use equity as a means to get
other people on board. This can lead to terrible problems
when you realise the person is the wrong fit. What would
be your advice to get around this?
�A good shareholders agreement/articles of association
will mean that non-voting share options can be given out, with
a vesting schedule (including a cliff). Alternatively, a special
class of non-voting shares with a reverse vesting schedule can
achieve the same economic effect. This means that if someone
doesn't work out, the board can vote to eject them, and they
leave with only what they've earned in so far. For advisors, the
equity amounts should be minimal (1-2%), and this should
really be for key folk from the target industry, who can help
drive sales or channel partnerships. Expectations of what help
they should provide should be made clear from the outset, plus
it should be clearly communicated that failure to significantly
help may result in their shares being reclaimed to be put to
better use elsewhere. Other kinds of advisors will often help for
free, out of philanthropy, or for a chance to invest later on.’
Mike Butcher
@mikebutcher
Bio: European Editor for
TechCrunch. Co-founder and
shareholder of TechHub.
With up to €100,000 available from enterprise boards,
should you go with Angels after obtaining this funding or
wait until you need more money?
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�Startups in Europe are typically underfunded compared
to their ambitions. US Startups are typically per-funded. So
raise as much as you can within reason, while remembering
that too much money can also kill a company- scarcity can be
the mother of invention. But give away as little of the company
as possible at the early stages.’
You can raise about 100k from the Irish government
through various schemes. Do you think 100k for the
average tech startup is enough to prove the product
concept, or should you look to raise more?
�This amount should be enough to build a "minimal viable
product" - depending on what it is of course. That could be
enough to prove the concept and build interest amongst
investors for follow on funding, but is rarely enough to last
beyond that stage.’
Eoghan McCabe
@eoghanmccabe
Bio: First and foremost, an
aspiring inventor. CEO at
@intercom.
Cash strapped startups often use equity as a means to get
other people on board. This can lead to terrible problems
when you realise the person is the wrong fit. What would
be your advice to get around this?
�All smart startups share ownership with staff, not just
cash-strapped ones. And this is very much a solved problem:
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standard vesting provisions will make clear what happens when
someone needs to leave the company. The lesson here is
actually: 1. involve a lawyer from the very start, 2. work with
lawyers who work with startups.’
A lot of startups get frustrated with government bodies, do
you think that’s a fair sentiment or just startup impatience?
As a rule of thumb, if you expect anything of a
government, you will experience a feeling of intense frustration.
That's why capitalism was invented. So startups, of all people,
expecting anything of a government, are doing it wrong. Very
wrong. In fact, opposing the establishment is generally a great
strategy—think Uber and Airbnb.
If we're talking about the tax and regulatory institutions
that businesses need to work with, Ireland should know that
they have it easy—city, state, and federal taxes and regulations
in the United States are a minefield. I miss the Revenue and the
CRO.
If we're talking about Enterprise Ireland and other
governmental business development institutions, I would say
that free money in and of itself is great, and I'll take it any day
of the week, but it's approaching the problem in entirely the
wrong way and may even be counter-productive. If it was my
call, I would take the entire Enterprise Ireland budget and
invest it in schools and colleges to help them teach computer
science to more people and to do it better. This way, we'd
have an environment where technology could get made, which
is the genesis of a startup, rather than the other way around,
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where people can get funded to make startups with no
technology, and then get frustrated at the government for their
failure.
Bill Liao
@liaonet
Bio: Entrepreneur, mentor,
investor. Co-founder of XING
and CoderDojo, CEO of
Finaxis AG, Partner in SOS
ventures
With up to €100,000 available from enterprise boards,
should you go with Angels after obtaining this funding or
wait until you need more money?
Simply put, if you are spending more than 100k on your
tech startup you are probably doing it wrong. I recommend 50k
to start and try to get cash flow and traction as soon as
possible. If you run into an actual constraint that requires more
cash then try to find the money you need from the fewest
sources you can. More investors is not better.
Gone are the days when it really mattered that you had a
big name angel on your board. People only really care about
traction and real traction is expressed in cash from happy
customers and so real traction is accretive investment is always
dilutive.
Also, many Angels and other bodies do not follow on their
investments if you need to raise growth capital at a later stage
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and so they stop delivering value after one investment This
means that subsequent investors can be put off because the
original investors are not stepping up.
When you raise capital spend as little as you can to get as
much traction as you can and do not fret about the valuation of
the company so much as stability of your investor base and
their ability to stay with you as you make mistakes. Lots of
smaller investors do not necessarily make for more stability.’
Cash strapped startups often use equity as a means to get
other people on board. This can lead to terrible problems
when you realise the person is the wrong fit. What would
be your advice to get around this?
People should work for a startup first and foremost
because they love the idea and the difference it makes in the
world. It is an amazing life experience to be part of something
that dents the universe and grows success on success and it is
the one place you can really learn how to become a talented
entrepreneur.
Startups are also a dangerous game with huge risks and
so are not suitable for people who need huge rewards or have
large mortgages. If you are joining a startup to get rich then 95
times out of 100 you are delusional. People who sell others on
the potential upside of the equity are selling snake oil without
realizing it, and those who join for dreams of fortune are there
for the wrong reasons.
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Startups are hugely rewarding and super stressful and no
one really knows who generated the most value at the end, so
as long as you have enough cash to keep the lights on and to
keep everyone from eating cat food that is all the remuneration
a cash strapped staff member in a startup should reasonably
expect.
Equity based rewards have one purpose and one purpose
only and that is to reward loyalty. I repeat, to reward loyalty.
Nothing more, nothing less. The more loyal a person working
for you is the more equity they deserve over time. Longer terms
of service, greater productivity, outstanding work output are all
examples of loyalty.
Now, any equity grant needs to have features that claw it
back if the person is disloyal. Novel forms of disloyalty are: not
working effectively, not putting in the effort and not getting
along with the team. Leaving the company early is also not
loyalty.
There need to be agreed provisions in any equity
agreement that result in vesting over time and clawbacks for
bad leaver scenarios. You may also wish to consider nonvoting stock with explicit exclusions of minority shareholder
protections that convert if the company gets acquired to
ordinary shares.
Whatever the arrangement is make sure that you do not
get stuck in a "bad marriage" because it’s probably illegal to
kiss and makeup.
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Harry Largey
Bio: Startup mentor. Cofounder of CloudMover.
Cash-strapped startups often use equity as a means to get
other people on board. This can lead to terrible problems
when you realise the person is the wrong fit. What would
be your advice to get around this?
�Firstly, no business will get off the ground without the
right people on board. Any investor will be keenly interested in
the core team and their ability to come up with the right
business offering and execute against it so it’s important that
the core team has the ability to deliver on this. Given the
importance of having the right people on board, it is vital that
the role you want to be filled is thoroughly defined, and that
time is spent making sure that there is the right cultural and
business fit within the team. As a good rule of thumb, if you
have any doubts, don’t make the hire. Using equity for an early
hire or a co-founder may be the only way to get them on board
if there is no cash available. If this is to happen, make sure the
equity agreement covers all eventualities e.g. what will happen
if there needs to be a subsequent parting of the ways. It is
natural to avoid talking about nitty gritty situations because
everyone is optimistic at the start, but the time spent writing
the right equity agreement to cover all eventualities will be
priceless further down the line if things don’t work out.’
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With up to €100,000 available from enterprise boards,
should you go with Angels after obtaining this funding or
wait until you need more money?
�Customers are much more valuable than investment.
After spending €100,000 wisely, a business should be sure
about its opportunity to engage a specific market sector with a
specific solution. Too often, the “investment culture” creeps in
and distracts a business from proving out its core reason to
exist. More money should only be taken when its needed to
avoid wasting it, or taking on an unnecessary level of founder
dilution. Focusing on early customer traction will ensure money
is spent wisely and will convince canny investors that this
culture will ensure that their investment money is also well
spent. That being said, a business will need cash to grow.
Investors should be picked as wisely as co-founders or early
team members, as they will be critical to the businesses
success.’
Dylan Collins
@MrDylanCollins
Bio: Irish Government’s
Startup Ambassador. Founder
of DemonWare, Jolt Online
Chairman of Fight My Monster
With up to €100,000 available from enterprise boards,
should you go with Angels investors after obtaining this
funding or wait until you need more money?
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Depends on what else you need. Some startups need a type of
expertise which enterprise/govt funding can't provide. If it were me, I'd chase
all of it and see what the term sheets looked like (there's a difference
between promises and actual cash materialising). Bear in mind you'll
probably need at least twice the amount of capital you think you do right now.
A lot of startups get frustrated with government bodies, do
you think that’s a fair sentiment or just startup impatience?
A bit of both. But to be fair to govt bodies, startups get pretty
frustrated with other investors too. Frankly, if you can't work through the
paperwork to secure grants or low-hanging funding, then you've little chance
of dealing with any serious problems which you'll face. So man up.
John Egan
@iamjohnegan
Bio: Irish Government’s Startup
Future of Banking expert. CEO
at Archipelago. Irish
Ambassador at Sandbox,
World Economic Forum and
ICUE.
Cash strapped startups often use equity as a means to get
other people on board. This can lead to terrible problems
when you realise the person is the wrong fit. What would
be your advice to get around this?
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My advice is never marry your first girlfriend. If it's your first
time raising money, take it from whoever you can get it from,
build something and get out of there. The experience you have,
the network you create and the skills you accumulate will be vital
when you go back to start your next company.
The next time you raise money, know who, when and where
your principal investor will come from. Understand what your
obtainable market is and what size investor that makes you
relevant to. Establish who invests in your space at series 1 & 2
stage and establish why any potential angels would be an
adequate fit with them in mind.
A lot of startups get frustrated with government bodies, do
you think that’s a fair sentiment or just startup impatience?
Governments shouldn't orchestrate enterprise, only facilitate
it. So long as they're not in the way of enterprise, start-ups
shouldn't be concerned with them.
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That’s all folks
Well that’s a wrap on that. We’ve tried to make the grant
process as clear as possible. We’re planning on running
community workshops to answer all your questions and give you
some information that we can’t publish here. If you’re interested
in this drop me a mail [email protected] and I’ll let you know
dates.
We hope that helps you some what don’t forget to tweet
this out under the hashtag #bullethq and let you’re fellow
founders know about it.
Don’t forget to check out our guide and calculator on how
you can get the tax man to pay for a sales guy. You’ll find this out
our www.bullethq.com or ask to speak to one of our growth
team.
Thanks
Pete & John
No part of this publication may be reproduced, stored in a retrieval system, or
transmitted in any form or by any means, electronic, mechanical, photocopying,
recording, scanning, or otherwise, without the prior written permission of the author.
Requests to the author for permission should be addressed to
[email protected]
Limit of Liability/Disclaimer of Warranty: While the author has used his best efforts in
preparing this book, he makes no representations or warranties with respect to the
accuracy or completeness of the contents of this book The author shall not be liable for
any loss of profit or any other commercial damages, including but not limited to special,
incidental, consequential, or other damages.
For general information, please visit our website at https://www.bullethq.com
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