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