Entrepreneurs Guide to Submitting an Application for Hban

ENTREPRENEURS GUIDE TO SUBMITTING AN APPLICATION FOR HBAN

Thank you for your interest in registering with HBAN, the Halo Business Angel Network. The Business Angels that are members of HBAN invest as both individuals and through syndicates. The companies wishing to pitch for investment from the Business Angels are selected based on the quality of the information they submit through this application platform (GUST).

For this reason the quality and accuracy of the information submitted at this point is of paramount importance. We suggest you take the time to prepare and review the text that forms the content of this application in an offline environment first. Once you have completed this word doc template and reviewed (and spell checked) your application, we suggest you paste the final text into each of the relevant respective boxes in the online version of this form

Text highlighted in Yellow is used to highlight what you will see in the fields in the online form. You do not need to prepare anything for these sections

Text in Grey Italics is used in Section A (Company Overview) and Section B (Executive Summary) to describe the type of content you should include in that section

The GUST platform is both a national and international platform, with Angels from around the globe accessing the opportunities. Thus a well prepared application will attract stronger attention. We encourage you to upload supporting documents, including business plans and financial tables, as well as presentations and videos, as this will significantly enhance your prospect of attracting investor attention through the platform.

HBAN is a joint initiative of Enterprise Ireland and Intertrade Ireland. If you are successful in achieving investment, your data (including jobs created, sales and exports) may be shared with these organisations

GUIDE TO COMPLETING THE HBAN APPLICATION FORM

The purpose of this template is to replicate the online HBAN application form fields (see Figure 1. below) required when submitting an application to HBAN (on the GUST Platform) as a new business looking for investment.

By completing the key fields of the HBAN Application Form in an offline environment, it is easier for you (the business promoter) to sense check and review your submission, ensuring it is aligned with your overall business plan, before submitting them formally online, where they can be viewed by investors and are used by HBAN management to help determine which companies are selected to pitch at HBAN investor forums and syndicates.

Figure 1 – HBAN Entrepreneur Online Application Form

Text highlighted in Yellow is used to highlight what you will see in the fields in the online form. You do not need to prepare anything for these sections.

Text in Grey Italics is used in Section A (Company Overview) and Section B (Executive Summary) to describe the type of content you should include in that section.

Once you have Completed Sections A and B offline in this word template you should review this with colleagues and against any longer form Business Plan you may have, prior to pasting the final text into the relevant sections in. Sections C & D below describe the fields but there is no specific preparation work required in advance of submitting them on the online application.

SECTION A>OVERVIEW

In this section most text is standard pro-forma information about your company, with the exception of Point 2 of Company Basics, Elevator Pitch, as well as Company Summary, and Management Information. Please take the time to prepare sharp, and concise written descriptions for each of these 3 sections

Company Basics

1.  Company Name

This text will be pre-populated from when you set up your profile initially

2.  Elevator Pitch

Outline in no more than 160 characters what it is your company does, the problem your product/service solves and why customers would want to pay for it.

3.  Company Stage

This is drop down List, select from

-  Concept Only

-  Product in Development

-  Prototype Ready

-  Product Ready

-  $500K in TTM (Trailing Twelve Month Revenue)

-  $1 M in TTM

4.  Primary Industry

This is drop down List select from list of 50+ sectors

5.  Location

There is a predictive location text when you start typing

6.  Currency

This is drop down List select currency from list of 200+ currencies

7.  Date Founded

Select Month and Year from Drop Down boxes

8.  No of Employees

Free text - Insert Weblink

9.  Company Website

Free text - Insert Weblink

Company Summary (max 450 characters)

Add an overview to help investors evaluate your startup. You will include top level overview of your products and services, your business model, and your organisational structure

Outline in simple terms what exactly your product and/or service is and the specific problem that it is solving for users/consumers of your product and/or service. In a few short sentences outline its market positioning vis a vis existing competition.
Outline how you will get your product/service to market. Outline the top level sales channels (direct/Indirect). Highlight the key principles of your revenue model, and your expected percentage sales split through these channels.
Outline in simple terms how you will structure your business operations.

Management Team (max 450 characters)

Who are the members of your management team and how will their experience aid in your success? (Note that individual team members can be added in the team area of the Overview tab on your company profile)

For each key figure on the Management Team, list their Name, Title, and gives a short 3-5 line bio on their professional experience as it relates to your business. You may also outline their key academic qualifications (e.g. Degrees, Masters, PHD’s) as they relate to the business)

Company Social Presence (Optional)

You may provide links to Twitter, Facebook and Linkedin pages relating to your business

B>EXECUTIVE SUMMARY

This section requires significant attention to accuracy and clarity of message. This is the section that investors will review the most, and that is also used by HBAN in determining which companies should be selected to pitch at the Investor Forum’s and Syndicates. Take time to complete, review, and spell check before pasting the content into the relevant sections of the online form.

Customer Problem (max 450 characters)

Almost all businesses that investors are likely to invest in have developed products/services that solve a specific ‘problem’. Their ‘solution’ to this ‘problem’ can be by increasing efficiency in a process incrementally or through totally disrupting how something is done through the creation of a completely new product/service. Ultimately the solution to the problem delivers significant value to the customer over and above how they currently do things. In this section you should outline at a top level concisely what ‘problem’ your proposed ‘solution’ is addressing. In the section on ’Products & Services’ below you will be able to give more specific details of your offering

Target Market (max 450 characters)

List the key target market(s) for your solution, why you think there is a good fit between your solution and the target market. Where are you target market located, how accessible are they. What level of validation of your product/ service have you done with your target market. Where the user and customer of your product are not the same person, make sure that this is clearly articulated. The target market is for the ‘customer’ who will pay your business money for your product/service.

Business Model (max 450 characters)

Outline the channels you will use to sell and distribute to your target markets. Give overview of the Direct Channels (e.g. Direct Face to Face Selling, Online Sales) and Indirect Channels (Distributors, Resellers, Agents, Affiliates). Indicate the relative importance of each channel and its weighting in terms of revenue generation. Highlight any relevant aspects of your revenue model (e.g. Monthly SaaS revenue / One off Product Sales)

Competitive Advantage (max 450 characters)

Outline why your business has an advantage over competitors in this space. The advantage should be ‘sustainable’. This means it cannot be easily replicated or bettered by competitors. Examples of Sustainable Competitive Advantage, can be specific Intellectual Property which is protected and which adds real value to your product/service in the eyes of the consumer; or highly specific domain knowledge and connectivity with your target market that existing competitors and new entrants cannot easily achieve.

Product Services (max 450 characters)

Outline clearly and in simple terms what your product(s)/service(s) are. Describe how the product(s) are manufactured / service is developed & delivered. Why would a customer be compelled to buy from you? Highlight the pricing points you have selected and outline how this market pricing compares to competitor pricing. Highlight the overall net margin you expect to achieve, and the net margin you expect across both direct and indirect channels.

Sales/Marketing Strategy (max 450 characters)

Make sure to have two distinct headings within this field
SALES
Describe the sales channels you will use, and why you will use these particular channels. How will you strategically approach the target market(s). Will you have a strategic geographic and or sectoral approach. Will you focus on using one particular channel over another in the initial stages. Are there specific key customers that represent the majority of your forecast customer base.
MARKETING
Describe how you will promote your business. How will you strategically allocate your marketing resources. Describe your use of online media, offline media, advertising, brand promotion, outlining the rational for the channels you choose to use. List any specific trade events that are of strategic significance to partake in.

Competitors (max 450 characters)

List existing competitors of significance in the market, and their positioning relevant to you. What threats do these competitors bring , and what are their weaknesses

Present Position

Outline the stage of product/service development your company is currently at. How far from market readiness is it. If it is deployed, and you are currently trading, name key customers, market segments and geographical markets that you have reached. Outline any other key achievements (e.g. awards /recognitions to date).If there is any specific market event due to happen shortly which will positively impact on your success highlight this also

Customers (Optional) (outline how this is different from target market)

This is a default section in the GUST platform. If you are happy you have described the Target Market section you do not need to fill in this. You may add extra details about the customer profile if you wish

C>FINANCIALS

Current Funding Round

You are required to insert the value of investment you are looking for and then to outline the type of round it is

The Round Type is from a dropdown list

-  Seed

-  Series A

-  Series B

-  Series C

-  Other

The Security Type is from a dropdown list

-  Preferred Equity

-  Common Equity

-  Convertible Note

Annual Financials

You will be required to outline 4 Years of Financial Projections from 2014 to 2018

Funding History (Optional)

You can include any funding history using the template as provided for in the Current Funding Round Section above

D>DOCUMENTS/PITCH DECK

Supporting documents will add value and depth to your propositions

Video

A short video (no more than 2 minutes), can help to bring your proposition alive, making a more tangible connection between your business and potential investors. It is an opportunity to Deliver a simple elevator pitch and outline your product/service offering in a compelling way.

Pitch Deck

A short concise pitch deck helps to visually demonstrate the compelling nature of your proposition, how you will develop your business and the key ways in which you will deliver return to an investor.

Investor Ready Business Plan

An Investor Ready Business Plan which matches what you have in the Executive Summary in Section B above demonstrates that you have the strategic understanding and capability to structure your business and manage any invested equity appropriately.