What are the steps from applying to receiving funding?

The process of actually getting investment into early-stage startups is often surprisingly long and painful to people who haven’t gone and done it yet. Especially for startups, it is extremely challenging to raise funds: One in four businesses, surveyed by the NSBA, were not able to receive the funding they required, which led to limiting the growth of their business (Schmid, 2020).

Reasons for that can be varied - not being located in the startup hubs, high fees, or fundamental problems with the vision of the business or the steps taken to achieve these visions. 

Pitchdrive's mission is to getting startups funded, remove friction, and make funding rounds happen in the simplest, fastest and fairest way. Because when investment rounds are done right, it’s an absolute win-win.

Let's take a look at the actual steps from applying to receiving funding:

1. Application form
   The application form is structured to validate your startup. We will examine different topics about your startup. As the application form is the basis for your further journey with Pitchdrive we strongly encourage you to put it the necessary effort.
   
2. Screening
   Moving forward you will be digitally screened by our research team and data engine. We will look into your application and online presence, conduct our own research and combine that with what we gathered on the call. At this stage the response to startups is usually a ‘yes’ or a ‘not yet’. In case of the latter, we will try to match you with one of our partners who might help you develop to the stage where we can look further into the possibilities of funding through Pitchdrive.
   
3. Expert Deep Dive Calls
   If we move forward beyond this initial evaluation together we will match you with an expert in our network who will do a personal call with you. They will get to know the ins and outs of your startup during these calls and drill down into the key evaluation aspects of your startup and how it could be presented to investors. We believe having feedback from a real expert is an extremely valuable step for founders.
   
4. Contracts and Other Administration 
   After some calls, you will receive an answer whether we will be moving forward together. If positive we will offer you the contracts, and assist you with filling in and perfecting your final details before we sign together and move forward to the funding.
   
5. Your Funding Round

If you reach this stage it means Pitchdrive ourselves strongly believes in you and your startup. Raising money for a startup is not an easy task and takes a tremendous amount of work and know-how. Therefore, Pitchdrive’s team of experts fundraises for the startup. Thanks to our network of seasoned entrepreneurs, we also give you the guidance and support you need to scale your business internationally.  

Once you have reached your funding goal, it is time to grow your company using the money you received in your round. Finding funding may be the most difficult, yet rewarding element of starting and growing a business. As a founder, we want you to spend as little time as possible in ‘fundraising mode’ then get back to doing what you do best - talking to users and growing your startup.

May the odds be ever in your favour.