05 Feb 2016

Week 4: The Wrap Up

By Ben

The teams enjoy lunch with Gi Fernando.

It’s the end of week four and we’re now a third of the way through the programme. It was all about the money this week as we had a number of investor talks designed to get teams thinking about their fundraising strategy and how to work with investors.

The week started as usual with team updates from everyone, checking in to tell us about challenges they were facing, good things and bad things that had happened during the week, and how the BGV community could help them going forward. I know I’ve mentioned it a few times on this blog, but it really is great to see how well these teams are gelling as a group.  Everyday the office is abuzz with teams huddled around whiteboards plotting out post-its trying to improve their business and drive it forward.

Wednesday we had Will Gibbs from Octopus Investments come in for lunch and to discuss what investors are looking for in the startups they invest in. A recurring theme was ‘traction’, what that means, and why it’s such an important metric for investors.

Joe Ludlow joined us to give a talk on the investment landscape. He talked broadly about different kinds of investors, what their primary motivations were, and what the teams should consider when exploring different kinds of funding options.

Finally this week we had another Founder Confidential with Gi Fernando. From founding Freeformers to investing in CityMapper, Gi was able to share multiple perspectives on what it takes to build a business.

So we are at the end of another week, and the teams are continuing to go at frenetic pace. Next week we have two more Founder Confidential talks, as well as a session with KPMG on risk and reward. On to week five!