7 technology ventures incubated at the prestigious IIM Udaipur Incubator, pitch to early-stage venture capital funds seeking seed capital.
March 2021, marked the start to one of the most difficult times. The whole world was at a pause because of a global pandemic. On March 14 2021, amidst this pause, FundEnable pivoted to conduct the First Demo Day with IIM Udaipur. We partnered with their Incubation Center. This partnership was for an end-to-end organization and management of the Demo Day. It was for their Launch-n-Zoom Startup Accelerator Program Cohort 3.0. This was not only the earliest but in fact the largest online demo day of the country’s startup ecosystem.
A demo day is generally known as the grand finale of an incubation or the acceleration program. In fact, it's just not a showcase platform for the cohort of startups. We also provided them a setup where not only could entrepreneurs meet their angel investors but also network with different stakeholders. Such a demo day is considered as an opportunity for the start-up to showcase their progress. It is also to delineate how they leveraged their startup from nothing to something in today's times. Over the years, numerous startups have participated in Demo days to get great and drastic progress both in growth as well as in scale.
However, due to the current pandemic situation the much awaited on-ground meeting had to be ruled out. The FundEnable team, therefore, had to switch things up for the demo day. We not only make it fully online but also to ensure that all that was planned by us were covered.
FundEnable partners with incubators to provide fundraising support to incubated startups through 1-on-1 mentoring, investor access, investment banking services, & more.
We organized and managed the Demo Day by conducting the step-by-step scope of engagement.
Step 01: Identification of Investment Ready Startups
First, the experts reviewed all the startups which were selected for the Launch-n-Zoom Startup Accelerator Cohort 3.0. Then, the analyses of these startups were conducted by the experts. Especially on the basis of the eight building blocks of the Funding Matrix. Next experts reviewed their expansion plans for the future and asked them questions regarding the utilization of funds and other funding planned for the startups.
Last, on the basis of the detailed review, FundEnable selected 5 startups from the entire cohort of 15 startups. This was the first step of the FundEnable mainly including the selection of the Top 5 Startups.
Step 02: One on One mentoring for demo day preparation
The Demo Day further was continued with a one on one mentoring session of the startups. With the help of this mentoring session the experts at FundEnable addressed various startup-specific queries of the founders. The guaranteed solutions given by experts helped founders in refining their business plans. Moreover, Experts assisted founders of the selected startups to come up with compelling narratives for their startups which later can be used to pitch to their investors during the course of the demo day
Step 03: Mock pitching sessions
The next step the experienced people at FundEnable brought was mock pitching. Mock pitching sessions were conducted to ensure the readiness of the startups for the actual demo day. During this session experts provided a format of ten minutes pitching followed by a ten min Question & Answer Round. This session was conducted a week before the actual demo day to ensure that founders had time to incorporate all the feedback.
Step 04: Inviting & Coordinating with relevant investors
On the basis of the selected startups, relevant investors were identified. The primary factor observed by the investors was mainly on the sector of the startups, their stage, and funding requirements needed for expanding their startups. Moreover, the angel investors and micro venture capital fund providers were invited to form the investor panel for the demo day. This helped both entrepreneurs as well as investors.
Step 05: Demo Day & Further Engagement
We coordinated the virtual demo day with support of the IIM Udaipur incubation team. Moreover, after the in-depth discussion with investors the founders were ecstatic to grab the opportunities. After the post demo day we compiled and shared investor feedback with respective startups. In the weeks following the demo day, FundEnable started conversations between startup founders and interested investors. We also made sure that they will further lend end-to-end investment banking support to startups to close investments post discussions and negotiations with the investors.
Originally published Dec 14, 2015
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