The following is the funding process for entrepreneurs presenting to our membership:
Companies meeting the selection criteria and wishing to present to Element 8 begin with an online application in ProSeeder™. Applicants must upload the following documents when they apply: executive summary; business plan; financial plan; and presentation deck.
Each month, a number of pre-screened companies are provided a 20 minute opportunity to present to our Screening Committee via WebEx conference call. Entrepreneurs have 10 minutes to review their pitch decks followed by 10 minutes of Q&A. The group selects three companies to present at our monthly membership meeting.
Companies selected to present are assigned a ‘coach’ to answer questions and provide feedback on their presentations.
This is the first exposure for selected companies to our membership, which takes place during a monthly lunch meeting. Entrepreneurs are provided 10 minutes to review their pitch decks and present their investment opportunities. Representatives of all presenting companies are asked to leave the room for about 15 minutes while members discuss their presentations and generate additional questions for each company. Company representatives are invited back to the meeting and are asked, in turn, to answer more in-depth questions. Each company has about 5 minutes of q&a.
At the end of each meeting, members fill-out a feedback form detailing what they think are each presenting company’s strengths and weaknesses. These are later summarized and sent to each company. The form also asks if a member is interested in beginning due diligence. A list of interested members, along with their email addresses, is forwarded to each company.
Members interested in learning more about particular companies join forces to conduct comprehensive due diligence prior to investment.
Upon successful conclusion of the due diligence process, investors make individual investment decisions and work together to finalize closing documents.