£36,000 Investment for Your Startup!
Edinburgh City Chambers - 1 Dec 2016
The Apollo team have come together in 2016 to create the “Launch!” competition.
Over the past 9 weeks a group of four Launch Finalists has been selected from the first group of competitors to enter the new funding competition. Following mentoring and a semi-finals in November, they are ready to pitch their investment case to YOU!
The event will take place on 1st December 2016 at the City Chambers in an audience of local business leaders and angel investors.
Following a Live Vote by the Apollo members, the winner will receive £36,000 in automatic investment on the night.
We will see you there!
How will the Competition work?
Applications will be accepted until 30 September 2016. Up to 6 Companies will be invited to pitch to the Apollo monthly meeting in November (1st Monday of the month). From these, 4 Companies will be selected to pitch on 1st December 2016 to a larger audience. The winner will receive automatic investment from the Apollo syndicate.
Is the competition open to any Company?
Yes, the competition is open to any Company based in Edinburgh with a valuation below £500,000 and seeking investment up to £150,000. Companies from all Sectors are welcome to apply.
The maximum valuation is not negotiable. It is recommended you consider your valuation level carefully with input from Business Gateway and your Apollo Mentor. An attractive valuation provides a significant incentive to investors.
Can I get help with my Valuation?
Yes! We realise this is a difficult calculation. Your Apollo Mentor can provide guidance on Valuation. We will shortly launch an Online Calculator which we hope will help guide you in valuing your business.
Do I need to be able to offer SEIS investment?
No, you do not need to be SEIS eligible in order to enter the competition. However, SEIS eligibility can provide a significant incentive for investors and you may wish to review the possibility of accessing this Scheme with your Apollo Mentor and Business Gateway.
Who will be in the Audience?
The competition is an opportunity to pitch your business to a wide network of investors from the Scottish Angel community. Whilst only Apollo members will vote on and fund the competition, other investors attending may find something they love about your business. This event is an opportunity to show them your business is for them!
Will other investors be able to co-invest?
Yes. We expect the Launch Competition to attract interest from a broad range of Investors, who will be welcome to attend the event. Apollo will also be happy to discuss co-investment with you and any other potential investor.
Do I have to take investment from Apollo if I win the Launch competition?
There is no obligation to take the funding offered by Apollo. However, should you decline to accept any funding offered by 31st December, we reserve the right to offer the funding to another Company.
What is Apollo?
Apollo Informal Investments (http://www.apollo-informal-investment.com) is an Edinburgh based Angel syndicate which aims to bridge the ever increasing gap of equity investment at start-up. The syndicate focuses on early stage Scottish start-ups and aims to provide access to equity which would otherwise not be available. The Apollo group is made up of members from various backgrounds however all have experience in various aspects of starting, running or exiting from businesses. The group does not just look to help through financial investment but also with practical advice and mentoring.
Can I enter the competition if I have previously applied to Apollo for funding?
If you have made changes to your business plan, or have progressed your product / service offering significantly since you last spoke to Apollo, you will be welcome to apply.
How detailed does my business plan need to be?
You do not need to develop a highly detailed business plan. However you will be expected to demonstrate that you have a realistic plan for future growth, that you understand your customers and market and are clear about how you will use the investment (including cashflow projections for the next 3 years). It will be important to demonstrate that you have tested the key assumptions you have made. Traction with existing customers is highly valuable and you should consider how you can demonstrate this to potential investors.
Will I receive any mentoring as part of the preparation for the Competition?
Apollo will offer a Mentor to all those companies chosen to participate in the initial round of presentations. Your Mentor will Champion your investment within the Apollo group and will work with you to optimise your investment proposal. The Winner will continue to receive Mentoring support from the Apollo team following investment.
You will be offered a mentor at the earliest opportunity. Our expectation is this will happen within approximately 2 weeks following receipt of your application to join the Competition.
What are the terms of the investment?
The Apollo Investment Agreement and Articles of Association are available here. In order to avoid unnecessary legal costs for both the Investee Company and Apollo, the use of our standard agreements is not negotiable.