Class: 2013 Summer Accelerator

Company Description

Ubersimple, a NH based software company, has developed "AppPack" (a mobile app and website), to make it quick and easy to give out referrals within the mortgage and real estate industry. Professionals that rely on referrals for business can include their trusted business partners to participate, which allows consumers to have direct access to a network of professionals, locally and privately. See a 90 second video at


8/2/2103 Fundraising




We all want it, but, how do you get it?


Today we learned about Fundraising. We had our panel consist of:

  1. Dan Pullman - Fresh Source Capital

  2. Barrie Atkin -

  3. David Parker - of our very own MVSandbox accelerator


The conversation wanted to address a few topics such as:

  • Sources of Money

  • Attitude about asking for money

  • Why do people invest

  • Preparing for meeting

  • Resources


One important thing that came about was that:

[At any time before or during your startup]  If you take money, make it clear what the expectations are.  And you need an agreement in writing.

or else there could be alot of confusion later as to what the money really bought. It's happend to others, and it's preventable with an agreement.


There are many places to get money if you think about it.

Here are some common Sources of Money:

  • Friends/Family, Business Colleagues, Advisors

  • Credit Card, Loans, Banks(forget about banks, it ain't gonna happen)

  • Professionals - Angels, Social Ventures Capitalists

  • Grants

  • Crowdfunding

  • Strategic Partners/Collaborators

  • Others? - Pitch Contest, sponsorships

  • Limited Offering - limited stock, sell the stock, to the limited number of people (If you do this, GET AN ACCOUNTANT & ATTORNEY)



**A quick note on VCs....VC want 10 times their money, on a few million dollars investment.

Also, VC's usually like to have control over the business. They try to always hold the lever that can swap out the management team. (you've been warned, make sure your deal gives you enough to live on in the event your equity can't be cashed in for years to come)


If you have Friends & Family involved, and you want to get angels or VC's involved, let the Friends & Family know things are going to be a bit more formal, and more contracts and formal notices will be sent regularly.



Angels, for the most part, are within reach of many Entrepreneurs. Angels have a high net worth, and are sophisticated investors, deemed by Government standards.


  • Angels can do checks from $10,000 to several hundred thousand dollars.

  • Angels do alot of networking, so get out there and talk.

  • Angels tend to like technology based companies.

  • You might have to show how your startup can deliver a 5x or even up to 20x return.


If your business does not forecast an exit (IPO orSell off) and you are looking at a self-business that sustains your lifestyle, the discussion changes with investors to "so how would I get the money back? and when?" as opposed to a true exit when its measurable that upon IPO or sale, your money gets returned, with growth.

What to do when you have "The Meeting"


1) How much do you ask for?

  • Find out how much they have given in the past! Look on their website for news archive.

  • It might tell you when, to who, how much, and how often.

  • It might even tell you about how to ask.


2) See who they gave money to and see if you know any recipients, and network with them.


3) Relationship is the #1 thing about asking for money.

  • Call the person, and ask them what they are needing.

  • See if you can find someone you can ask some questions to. Then call and start building the relationship.


4) Know who you are talking with and what benefits them.

  • Do some research


5) Smile Time!

  • Smile for 30 seconds before a meeting - it increases endorphins

  • Jump up and down, deep breaths.

  • Do research on the people.

  • Arrive Early

  • Understand the dress code/style


6) Have a sense of persons names (first name or nick name)

  • befriend the receptionist

  • Have business cards ready

  • Find out where they went to school.

So why on earth would someone want to give you money?

  • To make money

  • They might believe in your mission

  • For a social benefit

  • Possibly just for Name association - "I'm investing in a company Mr. Gates is invested in."

  • ***Because they were asked*** (Most important thing on this post)

  • You demonstrate that you are passionate

The way to ask, is to be comfortable about your business.

  • We are going to make big difference.

  • Your money is going to help us do X,Y and Z.

  • Amounts will help us reach our goal.


Don't be afraid to ask.

The other person wants to give money to a company they belief in.

Foundations HAVE TO GIVE AWAY their money, so get in line.

A good Mantra we learned:


If you want to get money, ask for advice.  

If you want advice, ask for money.

Have answers to questions like: "Why should you invest in me? "


If you are making a deck, and get discouraged, remember, The Deck takes time. Just work on a slide a day, and get it done in stages,


A few last tips:

When presenting, start with asking the listener: "How much time do you have for this meeting?"


It's fair to ask:

  • What do you think about this idea?

  • Do you know anyone one this is a fit for?

  • How can I improve this

  • Tell me what your objections are


YOU HAVE TO MANAGE THE TIME..... Be quick with your deck or there is no time for questions or discussion. (i.e. the deck should be a conversation starter, not a deal closer).


This means, Skip slides if it saves you time.

  • If you need to say why you are skipping slides, keep a phrase handy like

  • "Guys i've got to respect everyone's time...but I got to cut it short"


At the end of your presentation, Always be cordial, thank them for their time, and

Always ask for referrals!