By Jacqui Rudd
Grocery Accelerator ‘Discover Something New’ events are for ambitious food and drink brands to network and learn together. There is no sales pitching, it’s simply a meet-up for good people with good ideas from the food and drink world.
‘Discover Something New’ November theme was Funding For Scale hosted at Sustainable Bankside with insights from a panel of entrepreneurs, investors and providers of financial solutions. Our aim was to explore the options open to founders looking to achieve growth through equity, debt, grants and cash flow finance.
We were joined by Jonny Shimmin Co-Founder of Spoon Cereals, Stephen Page CEO of Startup Funding Club, Julian Hornby Business Development and Partnerships of Gap Cap and Andrew Moon Co-Founder and Head of Business Services of Swoop Funding, and the chair of this months panel was Paddy Willis, co-founder of Grocery Accelerator.
The panel discussed everything from the importance of trends in the market and doing your product research before you look for funding, how to prepare your business for a “yes” from a lender and future innovations in alternative finance. As well as some great actionable advice for brands on what funders and angel investors are looking for in a pitch!
What funders & angel investors are looking for during a pitch.
1) Product – if it responds to the needs of the market and this is backed up by research.
2) Team – how well established the team is.
3) Personality – since it is likely you will be involved with these people for the next few years it is important that your personalities match and you get along.
4) Third party – evidence of your success direct from consumers, such as reviews.
Thank you to everyone who attended and we look forward to hopefully hosting you again soon!
The next GA Discover Something New will be in January, follow us on twitter or our eventbrite page for updates on GA events.