Anyone who has ever watched Dragons Den on television will have some sympathy for the entrepreneurs as they face the inevitable grilling from the guys with the cash. Any perceived blip in their business plan will quickly be pounced on often leaving them red faced and spluttering.
Well this sure ain’t Dragons Den and although the whole aim of the site is to get young people with great ideas in front of investors the level of hand-holding and expert guidance leading them there is first class.
Aimed at undergraduates and graduates of the last five years, findinvestgrow.com (FIG) provides everything necessary to turn a business idea into a well managed and adequately funded reality. Or in the sites own parlance, FIGseeds are introduced to FIGureheads and FIGpartners who can offer professional mentoring services, investment cash or help with access to FIG Seed Funds.
A good idea needs a professional business plan and the site has the tools to allow anyone to write one. By building a profile on the site the team at FIG can check the viability and introduce relevant partners covering a host of specialisms including law and accountancy. Registered FIGureheads also have access to profiles and can monitor the progress of interesting investment opportunities.
The process is thorough and includes workshops where the FIG team can assess a candidate’s readiness for the funding round. If successful, young entrepreneurs are invited to one of the quarterly "Pitch to Investors Events".
There are two funding avenues available. Individual FIGureheads, who are all high net-worth entrepreneurs, can choose to invest along with the sites own passive investment vehicle, FIG Seed Funds.
The guys at FIG are keen to point out that they charge nothing to FIGseeds for the service and use of the suite of tools. They do however take a 5% equity stake in all businesses that find funding through the site.
Anyone with cash and an appetite to invest, registering as a FIGurehead will cost £1,000 to join and £1,000 a year thereafter. FIG will also take a 4% finders fee on any investment.
This looks a great site for young people looking to launch a business. Even if it doesn’t lead directly to the necessary funding the process gives access to a network of professional expertise that would be difficult and expensive to obtain for anyone going it alone