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【NY Startup Lesson】Entrepreneurship Course 6: Fundraising, Valuation, and Pitching

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This year, i2i has partnered with American accelerator EntreCamp to launch the 2024 IP2 Scale Out Program in New York. This initiative aims to help promising Taiwanese startups participate in a six-week, all-English expert course.


Instructor

Terry Hsiao


Course 6: Fundraising, Valuation, and Pitching


Summary

In this final session of the EntreCamp online course, our lecturers, Terry and Tina, guided the class through a comprehensive discussion on the critical topics of fundraising and pitching for startups.


The session began with a detailed exploration of the dos and don’ts of fundraising. Following this, the lecturers provided an in-depth explanation of commonly used investment methods, such as convertible notes and SAFEs.


Additionally, they discussed various approaches startups can use to calculate a reasonable valuation. In the latter part of the course, practical pitching tips were covered, with Tina sharing the strategies she employed to navigate the fundraising process.



Course Outline
Startup Fundraising
  • Lifestyle businesses primarily focus on generating profit. In contrast, scalable startups emphasize achieving high growth rates and expanding market share more.

  • There’s no need to approach VCs if you’re not aiming to become a unicorn.

  • Know the VCs you’re approaching. They have specific investment terms and strategies.

  • Before starting fundraising, prioritize building your Unique Value Proposition (UVP).

  • Maintain a “clean cap table.”

  • One of the investment methods is through convertible notes or SAFEs.

  • When determining how much funding to raise, base your estimate on the question: “How much money do you need to achieve your goals?”

 

Valuation
  • There are various methods companies can use to calculate their valuation, as explained below.

  • Replacement Method: This method considers how much money it would take for someone to replace your business.

  • Market Multiple Method: This is a commonly used approach. However, it’s crucial to use the correct multiplier that fits your industry.

  • Discounted Cashflow Method: this method is suitable for companies with predictable cash flows.

 

Pitching Skills
  • Allow Time for Q&A.

  • Focus on Content Over Creativity.

  • Always start with your Cs.

  • Continuously Improve Your Pitch Deck.

  • Avoid Discussing Exit Strategies.

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