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Preparing for the first angel funding
Prayank Swaroop, Senior Associate – Accel Partners India prayank@accel.com National Startup Summit, 6th September 2013
About Accel Partners
• Founded in 1983, Accel has helped entrepreneurs build over 300 successful category-defining companies
• Dedicated to partnering with outstanding entrepreneurs and management teams to build world-class companies, from inception through growth
• Offices in Silicon Valley, New York, London, China and India
Accel India’s Focus Areas – USD 250 Million
Mitra Biotech ACE
Internet/Mobile Enterprise/SaaS
Healthcare Education Digital Media
What exactly is angel funding?
When do angels normally fund?
When should you meet an angel?
Have a prototype ready 1. Doing it part-time 2. Just have an idea 3. You are building a tech product, but don’t have any tech team
Do
Don’t
Approaching and finding the angel
1. Find the right angel – does he have the experience to advise you? 2. What are the other companies he has funded – ask their founders
to introduce you to the angel?
3. Speak to companies the angel has invested in – do you hear what
you like? Doe he help in business? Or is just hanging around? 4. Would I like to work with this investor for next 7-10 years?
Approaching an angel
Due diligence on an angel
What should be in your pitch deck …
1. Team 2. Product 3. Customers 4. More Product Details 5. Market Size 6. Competition 7. Current Status 8. Execution Plan
How do angels evaluate an idea?
Team
Product
Market
What market size is good?
Market size > $500 million (Rs. 3000 crores)
How to judge the product?
Can the company make Rs. 150 crores revenues in 5 years?
Can you get to 5% of the market in 5 years?
ACCEL PARTNERS, INDIA
prayank@accel.com
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