What Is the Value of a Lead Investor

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The lead investor can be an important resource to a startup.

Here’s a list of values lead investors can bring to their fundraise:

They help increase the chance of success of the fundraise.

The presence of their leadership shows investors the startup has support.

They bring other investors into the fundraise.

Finding additional investors is the ongoing challenge.

Many investors will not invest without a lead investor.

The presence of a lead investor solves that problem.

The lead investor can help progress the fundraise process.

The lead investor typically invests 20% to 50% of the round which takes care of a sizable portion. 

The lead investor leads the diligence which is oftentimes the biggest hurdle in closing the round.

The lead investor manages the legal process in papering the deal.

The lead investor oftentimes forms an advisory board if there’s no formal board.

Finally, the lead investor negotiates the deal with the startup which is a time saver.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Role of the Lead Investor After the Fundraise

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The lead investor has a role before, during and after the fundraise.

Here are some key activities for the lead investor after the fundraise.

Takes a board seat to help guide the company.

Often helps recruit the other board members.

Provides oversight for reporting and compliance.

This includes tax and regulatory filings as many startups haven’t done this before.

Helps prepare the company for the next round of funding.

This includes building the appropriate business results as well as lining up outside investors.

To raise follow-on funding the company will need to meet specific metrics and milestones.

This requires putting processes in place to achieve the goals.

As for outside investors, it’s best to engage them early in the process so they can track the progress of the company. 

The more the investors know about the company the easier it is to raise the funding when the time comes. 

Consider these activities as a lead investor.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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What Are Co-Lead Investors?

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The lead investor typically takes up to half of the round in return for leading the diligence and setting the valuation.

When there is a great deal of work to be done and no single investor will take the lead then one can recruit a co-lead investor. 

A co-lead investor will join to help with the diligence.

In this case it’s best to build a lead investor team.

It’s important to divide the diligence tasks among the members so everyone does their share of the work.

Some consider the co-lead investor as lacking in interest or commitment.

But with the amount of work to be done, it’s not uncommon for investors to look for other ways to accomplish the work.

Startups can build lead investor teams to facilitate their funding round.

Founders can pull several investors together into one group to perform the diligence and share the results.

This often speeds up the funding process as investors look to others for feedback and experience.

Consider building a lead investor team on your next fundraise.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Disadvantages to Being a Lead Investor

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

While there are many advantages to being a lead investor there are also disadvantages.

Here’s a list of disadvantages to consider:

The lead investor must convince the other investors to agree on the proposed terms.

Not everyone will agree with the terms and the valuation set by the lead investor.

The result of the investment will be placed on the shoulders of the lead investor.

If the outcome is not a positive one, the lead investor will receive the blame.

There is a time commitment.

The role of the lead investor includes negotiating  the terms and valuation and recruiting other investors.

Closing the round will take considerable time as the other investors will go through their own diligence process.

Providing diligence to other investors often leads to investors not doing diligence.

Each investor is responsible for their own diligence result.

There’s an expectation that the lead investor will join the next round. 

By not joining it will put the startup in a difficult position.

Consider these disadvantages before assuming the lead investor role.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Advantages to Being a Lead Investor

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

While the lead investor has many responsibilities there are also advantages.

Here are some advantages to being a lead investor:

Gain a better understanding of the startup through diligence work.

Gain a position in the startup or on the board.

Better understand the performance of the startup over time.

Have more influence over the direction of the company.

Have more say in key decisions and strategy.

Can help the startup avoid major challenges and disasters based on poor decisions. 

Can protect the investment by helping negotiate the terms and provide follow-on oversight.

Can identify poor decisions and take steps to correct them.

Successful startup investments come from a strong team, proper mentorship, and sufficient funding. 

The lead investor is in a key position to provide these elements to the startup.

Consider leading a funding round.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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On this episode of Investor Connect, Hall welcomes Rob Johnson, CEO at MotionAI Technologies. Located in San Francisco, California, MotionAI Technologies is pioneering the development of a Small Motion Model (SMM) that focuses on biomechanics using proprietary sensor data to train AI models. The company is specifically targeting the consumer fitness market with an innovative approach that incorporates wearable technology, such as wrist and finger sensors, to gather motion data and create actionable insights for fitness enthusiasts and professionals alike. With a patent in place and promising letters of intent from potential customers, MotionAI is laying the groundwork for a groundbreaking solution that could redefine how motion data is leveraged in fitness applications.

Rob has a robust background in AI systems and biomechanics, having collaborated with the University of Michigan Kinesiology Lab to validate the capabilities of his technology. With a hands-on approach, he has successfully bootstrapped the company to this point, raising $700k to date. Rob's vision is to create a sophisticated AI-driven model tailored to tracking human motion, which, with the right funding, can be developed into a market-ready product within a few months. His experience spans various domains, making him a knowledgeable leader in the tech space who understands the strategic necessity of securing investment and partnerships to advance the company's mission.

In this episode, Rob shares insights into his fundraising efforts, the unique technology behind MotionAI, and the importance of partnerships with corporate VCs in the fitness industry to propel the company forward. Visit MotionAI Technologies at www.motionaitech.com, LinkedIn, and on Twitter. Reach out to Rob at www.linkedin.com/in/robjohnson and on Twitter.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

________________________________________________________________________

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Attributes of a Lead Investor

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The lead investor leads the process of negotiating the terms of a deal with a startup.

Here are some key attributes of a lead investor:

Has a strong interest in funding the startup.

Has previous experience with venture capital investing.

Is familiar with venture terms sheets and terminology.

Has experience with investors and early stage funding.

Understands the due diligence process and what needs to be done.

Understands the legal aspects of startup funding. 

Approaches the work to be done as a professional.

Has time available to engage in the diligence process as a lead investor.

Takes responsibility for the outcome of the process.

Can work well with others both on the startup side and investor side.

Has good communication and negotiation skills.

Can provide leadership through difficult situations.

The lead investor must be organized and efficient in their work. 

Consider these attributes for a lead investor for your fundraise.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Responsibilities of a Lead Investor

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The lead investor leads the diligence and negotiations with the startup.

Here’s a list of responsibilities of a lead investor:

Recruits investors to join the diligence team and divides up the work.

Engages in the process of diligence as well. 

Organizes meetings with investors and the startup team.

Keeps the investors informed of the progress of diligence and deal terms negotiations.

Brings in an attorney to paper the investment transaction.

Helps select the board of directors if a board will be formed.

Keeps the startup team informed of the investors concerns and care abouts.

Provides mentorship to the startup throughout the diligence process.

Negotiates the valuation and key terms of the deal such as liquidation preferences.

Helps find additional investors if needed.

Represents the interests of all the investors throughout the process.

A lead investor makes it easier for the startup by negotiating the terms directly rather than dealing with multiple investors.

Consider these responsibilities before taking on the role of a lead investor.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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What Is a Lead Investor

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

A lead investor is an individual or a group that leads the startup funding round by performing the diligence and setting the valuation.

The lead is an investor who represents the investors in the terms negotiations with the startup.

The lead is typically the first investor funding the startup.

The lead investor typically invests a substantial amount of the fundraise but not all of it.

The lead investor needs to have knowledge of the startup, the investors’ interests, and funding terms as well as deal structures. 

A lead investor has experience with funding startups and a track record in startup investing.

The lead investor will need to dedicate substantial time to the process of negotiating the terms and conditions of the deal.

A lead investor often knows other investors who are interested in joining the round.

The lead investor has access to legal resources for papering the deal.

The lead investor lends credibility to the fundraise through their reputation.

The lead investor is someone other investors trust.

Startups seek lead investors who can help negotiate and set the valuation for the investment such that other investors will join the round.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Managing the Grant

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

After winning the grant, the work begins.

The research must be carried out and the grant providers must be kept informed.

Here are some key points to consider in how to manage your grant.

Review the rules of the granting program and set up a plan to comply.

Check the grant plan to ensure that all requirements are being met.

Maintain a calendar of key dates including meetings, reports due, and audit deadlines.

Keep track of all financial invoices, receipts, and contracts in one place.

Match each expenditure with the use of the funds.

Ensure proper financial management over the funds with backups and security.

Track all relevant documents from the grant proposal and ongoing research performed.

Setup a budget for the use of funds and check monthly to ensure everything is on track.

Gain permission to change the proposal from the granting program before making the changes.

If there are partners in the grant then set up a meeting to build the calendar with meeting schedules, report deadlines, and how to maintain communication throughout the process.

Announce the grant to the public.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Best Practices for Writing a Grant Proposal

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The grant proposal will be read by many people of varying background and technical skill.

Here’s a list of best practices for writing a grant proposal.

Make sure your proposal aligns with the goals and objectives of the granting organization.

Establish context by writing an introduction that establishes the basic problem to be solved and the current solutions.

Educate on the key care abouts and challenges in the space.

Separate your goals - what you plan to accomplish, from your hypothesis -- what you believe to be true, and theories -- which are a system of ideas intended to explain something.

Define a core fundamental goal and build the proposal around it.

Stay focused on the goal and avoid complicated arguments that distract.

Define your goals and develop a set of hypotheses to prove out.

Show why you want to pursue these goals and how the outcome is important.

Make sure the underlying research is solid and feasible.

In writing the proposal state the problem and goal up front so it’s clear.

Less is more.  The more you can focus on a clearly defined problem, the more realistic your proposal becomes. 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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How To Write a Compelling Abstract

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In applying for a grant, it’s important to include a compelling abstract.

Not everyone involved will read the entire grant proposal but most everyone will read the abstract.

Here are some key steps in writing an abstract:

State clearly what you plan to do.

Include why this is important.

Show what you have already done.

Propose how you plan to carry out the work.

State your hypothesis and how you plan to prove it.

In writing the abstract it helps to start with what you want to achieve and then fill out the supporting science, and the steps you will take.

In the abstract describe not only what you want to accomplish but how you will do so.

Abstracts come with word limits so it’s important to wordsmith and polish it so it becomes concise.

Write out potential problems and how you will solve them.

Remind the reader of the overall problem you are trying to solve.

The abstract will be read by both technical and non technical people so it should be written in plain English.

Consider these points for writing your abstract.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Mistakes in Applying for a Grant

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Grant applications are complex and come with many challenges.

Here is a list of common mistakes in applying for a grant:

Failing to make clear the purpose of the study.

Failing to support the hypothesis with facts, studies, and evidence.

Not planning for obstacles by having back up plans.

Lack of data to support the proposal.

Failing to display knowledge of the current research and how your study fits into it.

Using acronyms and jargon rather than plain English.

Failing to define the research methodology and how you plan to carry out the research.

Not connecting your project to the current list of topics the granter is seeking.

Using a title that is misleading or uninteresting.

Failing to succinctly summarize the research to be done in the abstract.

Avoid these mistakes in writing your grant proposal. 

In writing a research grant proposal it is important to know your audience and what they are looking for.

Spend time researching the granting institution including their goals and objectives.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Sources of Grant Funding

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

There are numerous sources to search for grants.

Here’s a list of sites to consider for your grant:

Grants.gov -- this site lists all the SBIR grants available from the US government.

National Institute of Health grants -- lists all the NIH grants.

National Science Foundation -- lists all the NSF grants

Grantforward -- funding opportunity database built by academics for researchers

Researchresearch - a London-based research grant site.

For non-profits here’s a list of funding sources from family offices and foundations.

Instrumentl - grants available from family offices.

Foundation Directory Online -- database of federal and private grants.

Grantstation -- searchable database with tools for submitting grants.

Grantwatch -- grants for nonprofits and small businesses.

Some sites require a subscription.

Many foundations do not have a website listing their grant offerings so it’s important to have resources available to find them.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today...

_______________________________________________________

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How To Write a Grant Proposal

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

There are many sources of grants beyond the government such as family offices and foundations.

These private organizations seek to further their mission through grants to those who can advance the technology or the cause.

Here are some key steps in writing a grant proposal:

Develop a cover letter that describes the purpose of the grant and why the grantor should consider it.

Build an executive summary that captures the problem, your solution, the team, and current activities.

The purpose is to provide an overview of the proposal highlighting key details.

Write a full proposal that shows the firm seeking the grant.

Include the current state of the business, the team, and its capabilities.

Write out the problem to be solved.

Show the solution you offer.

Make clear the actions and results proposed to achieve the solution.

Show how you measure success and will track the progress of the program.

Show funding gained from other sources.

State the ask for the funding including the amount.

Show the use of funds for the project.

Include these elements in your grant proposal.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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How To Prepare a Grant Application

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The grant application process can take over three hundred hours to complete.

Take these steps to prepare to complete a grant application:

Review the eligibility criteria to ensure you qualify for the grant.

Setup an account on grants.gov

Download the application and other relevant documents and read through them.

Review the instructions on completing the application.

Write in a concise and cogent manner using plain English.

Avoid jargon and spell out acronyms.

Provide a logical ordering to the description so the grant reader can follow it.

Connect charts and graphs to the body of the report with a clearly defined reference.

Review the deadlines for grant submissions.

Set a target date for completing the application and plan out the work.

Line up additional support to review your grant application before submitting it. 

Submit the grant registration on grants.gov which can take up to two weeks to complete.

Capture the unique identifier for your application for future reference.

Consider these steps for preparing your application.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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On this episode of Investor Connect, Hall welcomes Jed Ng, the founder of AngelSchool.vc.

Conditions for Using a Grant

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

SBIR grant funding comes with requirements for how to use it.

SBIR funds for phase 1 are focused on determining the scientific or technical feasibility of a new concept or innovation.

The goal of the funding is to reduce the technical risk and increase the development of intellectual property.

Funds can be used for salaries, benefits, materials and supplies and direct costs to conduct R&D.

Here’s a list of use of funds not allowed with a Phase 1 grant:

Incremental development of an existing product.

Basic engineering work that has no risk.

Testing of existing products.

Unrelated scientific research.

Market research, sales and marketing, and business development.

Clinical trials.

Procure goods or services from the federal government.

Consider these requirements for the use of your SBIR grant funds. 

Also, the SBIR granting agency has unlimited data rights to the project.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Success Rates for Grant Funding

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Grant funding is challenging to obtain.

Only a fraction of applications receive funding.

Over the years the success rate of winning a grant has fallen.

The SBIR grant process comes in three phases -- phase 1, 2 and 3.

In 1998, the success rates for phase 1, 2, and 3, were 28%, 49% and 17% respectively.

In 2021, the success rate for phase 1, 2, and 3, were 12%, 21%, and 15% respectively.

The overall rate dropped from 31% in 1998 to 14% in 2021.

The DoD has the largest number of grants available representing 46% of all grants.

The success rate of winning a DoD grant is 15%.

The success rate has dropped in half from 1998 to 2021.

Phase 2 grants have a higher success rate because only Phase 1 winners can apply.

Most grant applications follow the business cycle. 

As the business booms, so do the grant applications.

The current downturn is due to the non-business cycle drop off of applications from the DoD and NASA.

The declining number of grant applications is due to the decreased number of topics available to pursue as the DoD eliminated many research intensive programs.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Where To Find Grants

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

There are many sources of grants for startups.

The main funding source for government grants is the SBIR and STTR grants.

These can be found at grants.gov

The site provides a search engine for finding grants based on keywords.

The user can also register with grants.gov to gain approval to apply for a grant.

The forms for grant applications can be found on the site.

One can set up a connection to the grants.gov site to gather information electronically.

In addition to grants.gov there are many non-government grant resources available.

These include the Minority Business Development Agency which provides grants for BIPOC entrepreneurs.

The National Institute on Drug Abuse offers grants on substance use disorders.

WomensNet offers the Amber grant to women entrepreneurs.

FedEx offers a small business grant.

Patagonia offers a small business grant program.

The National Association of Self-Employed also offers a small business grant.

Finally, Visa offers a small business grant.

Consider these grant sources for funding your business.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Lifecycle of Grant Funding

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The grant funding process goes through a well-defined lifecycle.

Here’s the lifecycle process:

Planning the grants -- the granting agency plans the grants to offer based on its mission, goals, and budget.

Announcing the grant -- the granting agency announces the availability of the grant.

Searching for grants -- the grant seeker scans the list of opportunities to pursue.

Completing an application -- the grant seeker completes a grant application.

Screening for compliance -- the granting agency reviews the application for compliance.

Review process -- the granting agency reviews the grant application and awards grants to those who pass.

Notification of award -- the granting agency notifies the recipient of the award.

Ongoing oversight -- the granting agency maintains oversight of the process.

Reporting results -- the grant seeker provides updates about the use of funds.

Grant closeout -- when the funds are deployed the grant is closed out with a report on the results.

It’s helpful to know the grant funding process from start to finish.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Pros and Cons of Grant Funding

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

There are pros and cons to grant funding.

Here is a list of pros:

The funding does not need to be paid back.

The funding is non-dilutive as no equity is given.

Grants are easy to identify.

Grants won can help in raising funding from angels and venture capitalists.

Grants increase your standing in the community as it shows validation of your work.

Here is a list of cons:

Grants take a substantial number of hours to complete.

The grant request must align with the goals of the granting organization.

Pursuing a grant takes time to come to fruition.

There’s a great deal of competition for the grant funding.

Granting organizations restrict how the funds can be used.

Granting organizations require updates, reports and in some cases audits.

Granting organizations have specific and often complicated rules for applying and using the funding. 

Consider these pros and cons before pursuing grant funding.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
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Checklist for Writing a Grant Application

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Before writing a grant application make sure you have these things ready to go:

A clear statement of the status of the technology and how it works.

A value proposition of the technology and how it can provide benefits.

A clearly defined goal for the use of the grant funding. 

Ability to show how your project fits the criteria of the granting organization.

How you will use the funds to accomplish the goals. 

A team that will take the grant funding and create a result.

The team has scheduled time to work on the project. 

A method to monitor the results of the project to see if the goals are being met.

A process for tracking expenses and reporting back to the granting organization.

Facility and equipment resources lined up for the technical work.

If you are selling the prototype then you’ll need a list of prospective buyers.

Ensure these items are in place before writing the grant application.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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In this part two of the three-part series, we continue to explore the evolving funding landscape for medtech companies. Over the past three years, access to capital has become more challenging, pushing startups to adopt innovative commercialization strategies. Our guests, including experts from Hatch Medical and PavMed, discuss the importance of forming strategic partnerships with midsize companies to navigate regulatory hurdles and leverage economies of scale. 

The episode also examines how startups can attract investors by demonstrating value and achieving critical milestones. By focusing on accretive value and understanding the funding environment, startups can position themselves as attractive targets for acquisition by larger companies. Our conversation highlights the importance of nailing down supply chain management, regulatory pathways, and reimbursement processes to ease investor concerns.

Additionally, we discuss the impact of AI and emerging technologies in the MedTech space. AI offers transformative potential but also presents regulatory challenges that require careful navigation. Our guests, including Dr. Acklon and Todd, emphasize the need for clear application and robust data management practices. 

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For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  
Check out our other podcasts here: https://investorconnect.org/  
For Investors check out: https://tencapital.group/investor-landing/  
For Startups check out: https://tencapital.group/company-landing/  
For eGuides check out: https:/_/tencapital.group/education/  
For upcoming Events, check out https://tencapital.group/events/  
For Feedback please contact info@tencapital.group   
Please follow, share, and leave a review.
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How To Use Grant Funding

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

After winning a grant, you’ll need to apply the grant funding to your project

Consider these best practices on how to use grant funding:

Build a rapport with your grant representative.

The grant representative is your contact point with the granting organization.

Find a way to work well with them.

Set up an accounting system for your grant.

Record all expenditures into the system to provide reports to the granting organization.

Also be prepared for an audit if one should occur.

Look up the reporting requirements for your grant and set up a plan to fulfill those requirements.

Grant funding is given for a specific set of activities.

Make sure you are using the funds only for those activities.

Close out the grant with a report to the granting organization.

Verify you met all their requirements.

Set a goal for what you want to achieve with the grant funding.

Focus on building a prototype and selling it to a strategic customer.

Consider these steps in using grant funding.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
For eGuides check out: https://tencapital.group/education/ 
For upcoming Events, check out https://tencapital.group/events/  

For Feedback please contact info@tencapital.group   

Please follow, share, and leave a review.

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