#6 Write an E-Mail.
On every VC’s website you will find contact information and an email address to send your request to. So just drop a mail with your business plan attached, right? BAD IDEA! In their book „Venture Deals“ the American VCs Brad Feld and Jason Mendelson put it that way: "Spamming looks lazy. If you didn't take the time to really think about who would be a good funding partner, what does that say about how you run the rest of the business?”
#5 Phone Call.
Calling is more personal than just emailing. Nevertheless, it is very unlikely that you will stand a good chance. These guys are busy and get pitched a lot of ideas every day - so why should they be extremely interested when a stranger cold calls them?
#4 Cool, but hard to win: Business Plan Competitions.
Imagine it: You win a BP Competition! After the event a lot of people know you, you will meet a few investors that took notice, and the press will publish articles about your business. Sounds good, right? Still, it is not that easy to win such a competition. Just take all the hours into account that you have to spend writing a business plan and preparing for the competition.
#3 Use your Network: Referrals.
Having a strong business network is a huge asset. Most venture capital deals happen because someone recommended a startup or introduced the founders to the VC. Still, to build such a network takes years. On top of that you are dependent on your contacts to introduce you to an investor.
#2 Meet them in person: Visit a Conference!
Conferences are the place where the Social Entrepreneurship scene meets: Founders as well as investors and employees make new contacts at those events. For that reason it makes perfect sense, to approach VCs in this personal atmosphere. Additional advice: Try to find out beforehand, which investors and VCs will attend the conference to know them by name.
#1 Do it effectively: Be part of the SocialPitch at SensAbility!
Combining the best of all the other ways: The SocialPitch@Sens! It is your opportunity to give a 15 minute presentation of your company in front of a jury of various investors and consultants. Therefore you do not only have the chance to receive funding, but also advice for your business development. The application process is not as complicated and time consuming as with business plan competitions, and your probability of making good contacts are comparably high as with referrals.
