2. APPLY
If you are interested in applying to JumpStart for funding, you must first complete the ADVISE Request Form. If you have not done this, please go back to the ADVISE step of the process for more information.
Once a member of the JumpStart Investment team reviews your ADVISE Request submission, they will contact you if they believe the business or idea fits our criteria. If we mutually determine that you're a good match for a potential JumpStart investment, you will be invited to APPLY by submitting an Executive Summary.
Preparing an Executive Summary
We will evaluate your idea according to the criteria listed below. We ask that you to describe your idea in a concise manner—five pages is ideal; ten pages is the maximum.
In your written summary, please address the following:
Product or Service
What does your company do?
Market Need
What area of “pain” or unmet need does your product/service/technology address? Is it something customers absolutely need to have? Describe the target customer(s) and how you envision selling to them. Our preference is to find ideas with such a compelling value proposition that customers cannot live without it. Also, keep in mind that products requiring significant changes in behavior by the consumer/user are tougher sells.
Market Size, Growth, & Segmentation
How large is the market your product/service/technology is addressing? What are the trends? Is the market growing or contracting? How quickly? Is the market nascent or mature? Does the market logically divide into different groupings? Our preference is to look at ideas that serve large and growing markets where the entrepreneur understands the market segments.
Competitor Analysis
Give us a sense of the competitive landscape for your product/service/technology. Size of competition (revenue is one metric you could use) and relative market share are helpful.
Patent Protection/Differentiation
What makes your idea unique? Is your idea protectable? If so, have you begun to seek patent protection? If not, what is your strategy for product differentiation?
Management Team
Describe the backgrounds of the founder(s), current management team, and board members. If you haven't assembled a board of directors/advisors yet, give us an idea of your board "dream team" and specifically how or what you envision them contributing.
Financials
What are your historical financials from a balance sheet, income statement, and cash flow standpoint?
For future financials, show us how you will reach $30-$50 million in annual revenues within five years. What volume, price, and product mix will get you there? What major expenses will you have? What will your gross margins be? What major milestones will you hit over the course of these five-year projections?
Funding
What is your current capital structure? How much has been invested in your business to-date? How much funding are you seeking, from whom, how long will it last, and how will it be used?
Exit Strategy
It is never too early to start thinking about potential exit strategies for your business. Tell us who might be interested in buying this company in the next five years. Or do you have dreams of taking your company public? Investors need assurance that they will be able to achieve a return on their investment at a future date, ideally within five years.
How Will We Evaluate Your Business Idea?
JumpStart seeks business ideas that have the potential to attract a Series-A investment (typically $3-$5 million) from a professional venture capital firm within the next two to three years. This means that the business must clearly demonstrate a desire and a way to grow very rapidly.
Confused about any of this? ASK A QUESTION.