Getting a start-up off the ground involves building a multitude of things from building a product, a customer base and investment pool. Key start-up hubs like in London and Berlin are building robust ecosystem to support entrepreneurs to get off the ground far quicker. However navigating these ecocsytems can sometimes be challenging, especially the investment ecosystem. There are so many unanswered questions an entrepreneur has; how do I become more investible? What sort of investment is available to me? Do I need investment? How do we become more credible? How do I attract the right investors? How do we survive/stand out from others, knowing that hundreds of start-ups are born every-week and that 90% of them fail?
To help our participants navigate the confusion, we work very closely with Elena Oprea, the Ventures Manager at Innovify. At Innovify, Elena helps ambitious founders validate their ideas and develop MVPs to find product-market fit. Elena gives our participants an overview of the investment ecosystem, the key players and help participants figure out where they sit and which direction they can go in.
As well as navigating the ecosystem we must be sure to stand out among the masses of entrepreneurs. To do this, Elena advises:
“Make sure you are prepared and have a strong elevator pitch. Also, show your investor that with or without them, you’ll do it. With his money, things will go faster. But in any case, you will start your business. Be confident. Make them feel like they are missing out on something great. They can be a part of the adventure if they want, as in any case the adventure will happen.”
Confidence and nailing the elevator pitch are two key components (amongst others) to help you be the successful entrepreneur you want to be.