Funding Process

The funding process comprises 9 steps as follows:

Step 1: Before you apply

Before submitting the executive summary (or business plan) for consideration by HBA it is important that you consider whether funding from HBA is right for your start-up venture.

Start-up companies should read the Entrepreneur section of the HBA website prior to deciding whether or not to apply for funding from HBA.

Step 2: Complete and Submit your Application

Should you decide to apply to HBA for funding, you will need to complete and submit the application form on the Entrepreneur section of the website.

The application form is designed to aggregate the most important information about the start-up’s business to help the HBA selection panel decide whether the entrepreneur making the application should be invited for an interview.

The panel will carefully review the executive summary (or business plan) against the investment criteria and will contact you with its decision.

Start-ups will only be invited to present at the Company Presentation event if there is a realistic chance of securing funding from HBA.

Step 3: Interview

Should the panel feel the start-up company fits the HBA investment criteria, HBA will invite the company for an interview at Henley Business School.

The interview will take approximately 1-2 hours arranged on a day and time to suit the company. The entrepreneur will be required to present the business and answer any questions from the panel.

Step 4: Invitation to present

If you are successful at interview, you will be invited to present at the next meeting of members as one of up to five (S)EIS approved businesses to present.

The entrepreneur will need to accept the invitation in order to attend.

Step 5: Training

Following acceptance of the invitation you will be required to attend a training session, in the form of a full day workshop, at Henley Business School to help you become ‘investment ready’.

The training session, which will be delivered with the Berkshire Business Growth Hub, will provide:

  • guidance on creating a presentation
  • an overview of how to raise business angel funding
  • legal advice
  • practice in pitching
Step 6: Company presentation

The company presentations will happen at the quarterly meeting of HBA.

You will have 10 minutes to present, followed by five minutes of questions from the assembled angels.

Following the pitch the entrepreneurs will have the opportunity to network with HBA investors and hand out executive summaries.

HBA investors will complete feedback forms, which will be collected and shared with the companies.

Step 7: Term sheet

Following the presentations event the entrepreneurs will arrange meetings with HBA investors with a view to exploring/securing funding.

If interested, HBA investors will elect a lead and conduct due diligence (and, if deemed appropriate, issue a term sheet).

Henley Business School will offer rooms for meetings between you and HBA investors and Henley Centre for Entrepreneurship will continue to facilitate connections as requested.

Step 8: Closure

Upon agreement of the terms there will follow a process of drawing up a shareholder agreement and, all being agreed, a successful closure.

Step 9: Post Closure

Typically post closure the lead angel will join the board and provide ongoing support.

During the post closure step HBA will work with the entrepreneur to develop a press release to be published on the HBA and UKBAA websites, which will also be released via the University’s social media and off-line media channels.

A success fee of 3% of the total money raised by the Henley Business Angel network will be charged to the entrepreneurs via invoice.

The Henley Centre for Entrepreneurship will continue to support the entrepreneur and help with future fund raising as requested.

If you have any questions on the funding process please get in touch with Jurek Sikorski at jurek.sikorski@henley.ac.uk or via our website.

Do you qualify?

Read through the investment criteria to see if your business would be suitable for funding by HBA.

HBA is open to receive applications and the timetable for the next funding round is as follows:

Open to receive applications – 18th September 2017

Applications close – 27th October 2017

Interviews – 7th and 8th November 2017

Selection of applicants to present – 12th November 2017

Investment Readiness workshop – 23rd November 2017

Company Presentations – 14th December 2017

 

If you have any questions on the funding process please get in touch with Jurek Sikorski.