Are you interested in applying for #PitchItWales?
As excitement and interest grows around our recently announced Pitch It event delivered in partnership with Inspire Wales we thought it would be helpful to include a short Q&A around the application process and event itself.
Does my business need to be sector specific to apply?
Pitch It is open to businesses from all sectors.
What stage does my business need to be at to apply?
If your business could benefit from between £10k-£50k of equity investment along with access to top advice and expertise from our panel then it is at the right stage to apply.
How do I apply?
To apply, simply send your business one pager (also known as an executive summary) to firstname.lastname@example.org before the closing date, 10th September.
What should I include in my business one pager/executive summary?
There are lots of helpful articles that can be found online around writing your one pager. We have listed a few of these below for your reference:
When will I hear back that my application has been successful?
One of our team will respond within 24 hours to let you know that your application has been received.
If your application is successful and you are selected to attend a 1:1 interview (this can also be done via Skype) you will hear back from us w/c 17th September.
What are the mandatory dates?
28th September – If your application is shortlisted, you will be asked to attend a 1:1 interview on this date – this can also be conducted via Skype for those who are unable to attend in person.
17th October – if you are selected as one of the five entrepreneurs to pitch live on the day of the event you will need to be available to attend the event in person.
How much investment should I ask for?
You can ask the panel for between £10k-£50k of equity investment. We ask that you include the value of your business within your pitch and use this to justify the sum of investment you are asking for.
Example: “I am looking for £30k for x% of my business”
As long as you are able to justify your ask and evidence how this will benefit your business then the exact amount you ask for is your own choice.
What legal paperwork needs to be completed?
If your application is successful and you are one of the 5 entrepreneurs selected to pitch live on the day to the panel you will be sent a copy of Inspire Wales standard investment agreement in advance to review.
You will be expected to sign this document on the 17th October once the amount of equity investment has been agreed.
How much equity of my business will I be expected to give away?
This is entirely up to you as an entrepreneur and based on the value of your business.
Can I still apply if I’m looking for more money?
Yes, however the maximum amount of equity investment that will be given on the day will be £50k.
Do I have to be a registered company?
Yes, your business must be registered.
Who is on the panel?
The panel will be made up of members of Inspire Wales Investment Consortium. Then names of the panellists will be announced very soon…