Strategies for startups to secure VC funds in the current economy
18 September 2024 — In the current challenging economic landscape, startups need solid financial preparation before pursuing venture capital funding. Meanwhile although there are many caveats, well-designed and effective government incentives can also play a key role in fostering sustainable entrepreneurship growth.
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On September 10, 2024, Reddal Client Director, Per Stenius, gave a presentation on strategies for startups to secure external funding in the current economy at ISW SURF 2024 – a conference focusing on the latest trends and insights for startups, held in Incheon, South Korea.
The presentation highlighted the critical role of financial preparedness while suggesting a structured process for startups seeking venture capital funding:
Step 0. “You cannot fight the market” – understanding current trends and opportunities through European examples
Step 1. Fundraising timing – historical trends and key takeaways
Step 2. Initial scanning and evaluation – finding the right VC to match your company’s ambition
Step 3. Basic elements of a pitch document and information memorandum
Step 4. Understanding the principles of valuation
The role of government programs was also discussed. Research shows, unfortunately, that most government venture and start-up programs fail. On the other hand, well-designed government programs that operate like private venture capital firms, rather than simply subsidizing trendy industries, can contribute significantly to sustainable growth.
The materials presented during the event are available here: Startup strategies – Securing VC funds in today’s economy
Tags
Startups, Start-up ecosystem, South Korea, South Korean market, Korean economy
