Funding Process

The funding process comprises 9 steps as follows:

Step 1: Before Applying

Before submitting the executive summary (or business plan) for consideration by HBA it is important that entrepreneurs consider whether funding from HBA is right for their 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: Completing and Submitting an Application

Should an entrepreneur decide to apply to HBA for funding, they 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 the entrepreneur with its decision.

Step 3: Interview

Should the panel feel the company fits the HBA investment criteria and therefore has the prospect of raising funds from HBA members, it will invite the entrepreneur for an interview at Henley Business School.

The interview will take approximately one hour and arranged on a date and time during the period allocated to interviews as published. The entrepreneur will be required to present their business and investment proposition and answer any questions from the panel.

The entrepreneur will have the opportunity to ask questions of the panel and be briefed as to what will happen after the interview to include being notified of the panel’s decision and the next steps.

Step 4: Invitation to present

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

If an entrepreneur is successful at interview, they will be invited to present at the next quarterly Company Presentations event 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: Preparation and Practice

Following acceptance of the invitation the entrepreneur will be required to engage in preparation and practice for the presentation to HBA members.

Preparation and practice will take the form of:

  • An Investment Readiness Workshop
  • Mentoring
  • Pitch Practice

The Investment Readiness Workshop will feature a talk by a HBA member on what angels look for and will also include sessions on what constitutes a great presentation, the commercial aspects of IP and a deep insight into all legal, tax and finance details, delivered by experts in their field.

Alongside the Workshop, HBA offers entrepreneurs one-on-one mentoring to help prepare for the Company Presentations event and a practice session during which the entrepreneurs receive feedback and advice to deliver a great investment pitch.

Step 6: Company presentation

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

Entrepreneurs 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 the entrepreneur 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 4% 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 throughout the year with four closing dates. The next closing date and timetable for our upcoming Company Presentations event is as follows:

 

Applications Close: 28 October 2019

Interviews: 5 November and 6 November 2019

Selection of Applicants to Present: 8 November 2019

Investment Readiness Workshop: 21 November 2019

Dry Run Presentations: 4 December 2019

Company Presentations: 12 December 2019

 

The last remaining Company Presentation event scheduled later in the year will be held 12 December 2019. Please keep this date clear in your diary.

 

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