Conclusions of organizers of the 2014 Funding Roadshow
MONTREAL, Jan. 27, 2015 /CNW Telbec/ - Fundica, organizers of the Funding Roadshow, a national educational and entrepreneurial initiative with city stops across Canada, today announced its conclusions for 2014.
The 2014 Funding Roadshow stopped in 11 Canadian cities, from Halifax to Victoria, between April and July of last year. A total of 205 select companies pitched to 83 funders, including: public granting organizations, public lenders, private lenders, angel investors and venture capitalists (VCs).
Each pitch was graded, from one to 10 points, on five criteria: market, solution, presentation, team and 'ready for San Francisco' – for a maximum total score of 50/50. (The highest score in each city won airfare to San Francisco plus the opportunity to attend networking events and pitch to area VCs.)
The results were as follows:
- Average score: 32/50
- 35% of companies received an 'excellent' score (≥ 40/50)
- 57% of companies received a 'good' or 'very good' score (25 – 39/50)
- 8% of companies 'failed' (≤ 24/50)
- The 'markets' identified were generally 'good' or 'very good' (average 6.8/10)
- The 'solutions' proposed were generally 'good' or 'very good' (average 6.7/10)
- The average 'presentation' score was 6.4/10 – identified as an area for improvement
- The average 'team' score was 6.4/10 – also identified as an area for improvement
- Nearly half (49%) of companies were 'ready for San Francisco'
- In the 90 days following the 2014 Funding Roadshow, 32% of entrepreneurs were offered funding and 33% of funders made 'investments'
- 96% of participants (funders, entrepreneurs and attendees) said they would return to the Funding Roadshow
"The experience of listening to more than 200 pitches provides a unique perspective on start-ups and small businesses across Canada," says Mike Lee, Eng., MBA, CFA, President, Fundica. "Based on detailed analysis, we found that access to capital, from public, private or mixed sources, is generally quite good. We also believe that the following are essential to improving success among Canadian start-ups: 1) more knowledge – pitching, funding, building and operating a business, 2) a higher number of partnerships among entrepreneurs resulting in the co-foundation of start-ups, 3) greater opportunities to pitch and get feedback and 4) inspiration and mentorship from successful entrepreneurs. Together with our outstanding partners nationwide, these are our objectives for the 2015 Funding Roadshow and beyond."
The 2014 Funding Roadshow was made possible with the support of 63 community partners. Adding entrepreneurs, funders and people who attended the more than 60 educational workshops, this initiative actively engaged more than 1,000 participants coast-to-coast.
The 2015 Funding Roadshow will be held between March and May of this year. To register, participate or learn more, please visit www.fundingroadshow.com.
Fundica, Canada's most successful traditional funding identification and connection platform, matches entrepreneurs, private investors, public funders and advisors. Through unique crowdsourcing/crawler technology, Fundica provides an up-to-date, comprehensive and intuitive funding platform. Additionally, Fundica manages the Funding Roadshow, an annual cross-Canada initiative. Over the last two years, the Fundica team has been recognized by Intuit (Financial Literacy Startup Finalist), the Bronfman Foundation (Top 25 Emerging Entrepreneurs), CFO Canada (Entrepreneur of the Year), and Startup Canada (National Entrepreneurial Effect Runner-up). For more information, visit www.fundica.com.
To schedule an interview with Mike Lee, please contact Mark Lowe at [email protected], (514) 499-9632 or (514) 576-2519.
For further information: Media Contact: Mark Lowe, PRagmatic Communications for Fundica, [email protected], (514) 499-9632, (514) 576-2519