How Important Are References for a Startup to Secure Funding

Ask me anything (AMA)
1

Hi,
We are working on a startup called Tail Treat, focused on the pet industry. Recently, we applied to Rainmatter seeking funding for our venture. While exploring the Rainmatter website, I came across the community and felt it would be the right platform to address some questions that have been on my mind for a while.

Given the high volume of startups seeking funding, those with references might have better opportunities to connect with resourceful individuals.

  1. How can someone without a network effectively pitch their idea to influential or resourceful individuals?

Additionally, I have another question:

  1. For individuals with limited resources who are managing a job alongside their startup, securing funding can be particularly challenging. Building a profitable business takes time, and such individuals are often left with no choice but to juggle both. What is the best approach for them to secure funding and eventually transition to working full-time on their startup?

Looking forward to insights from the community!

2

Look for government grants, startup competitions, or accelerator programs.

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Thank you for the inputs

4

Harshith, I think reaching out to investors who are focused on this sector is the best way to go about it. A simple search led me to this,

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I think personally trying to reach out to these folks can be great to start. And on the effectiveness, it depends on how to present the idea and what has been the progress so far, among other things such as timing, team, competition etc.

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We truly appreciate you for taking the time to research and respond to us despite your busy schedule and the numerous applications and requests you handle.

Thank you so much! I will now focus my efforts on connecting with investors interested in this sector.

Also any reference from #Rainmattercommunity @Rainmatter_Invest would be appreciable🙏

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