| Scene setting |
| Communicate potential challenges and rewards for scientific entrepreneurs embarking on an entrepreneurial journey |
Yes |
Yes |
| Ensure awareness of the various stakeholders within the Imperial entrepreneurial community and what will be expected in the startup process |
Yes |
Yes |
| Provide initial assessment of potential customers and the size of the market so that all parties reach a common understanding of the key unique selling points (USPs) of the company/value proposition |
Yes |
No |
| Turning your idea into a business |
| Find credible sources of information for detailed customer/market analysis and undertake an iterative process of market and customer evaluation. |
Yes |
No |
| Brainstorm to help determine the initial target markets, competitive advantage in those markets, and commercial rationale to test with customers |
Yes |
No |
| Identify key market metrics and impact on the business proposition |
Yes |
No |
| Undertake an iterative process of market and customer evaluation and formulate a technology marketing plan |
Yes |
No |
| Planning the business |
| Build the financial modelling template that will underpin the business plan. This involves identification of input data and main KPIs of the company, and cross-checking these against the competition and available market data |
Yes |
Yes |
| Help prepare the business plan including: interim goals and strategies, a three-year vision and identification of resources needed to reach business goals |
Yes |
Yes |
| Provide specific advice on developing an IP strategy for the startup |
Yes |
Yes |
| Preparing for funding |
| Support founders in finding potential sources of grants and assist in writing bids. Imperial has built a relationship with an independent company that can provide specialist grant-writing support in exchange for a fee |
Yes |
Yes |
| Help to prepare an executive summary, public one-pager and investor presentation deck |
Yes |
No |
| Assist with preparing and practising the pitch to investors. Usually this is an iterative process that may involve ‘friendly’ external feedback on the investment deck and pitch |
Yes |
Yes |
| Undertake initial company valuation exercise based on comparable market data, discounted cash flow analysis of future revenue streams, and experience and feedback from the investor network |
Yes |
No |
| Prepare a share capitalisation table and model the impact of different investment scenarios on founders’ percentage ownership (dilution) |
Yes |
No |
| Provide an equity modelling tool to enable founders to see what the effect of different- sized future funding rounds and non-dilute provisions might be on a founder’s shareholding |
Yes |
Yes |
| Introducing founders’ company proposition to network of investors |
Yes |
Yes |
| Provide warm introductions to appropriate early-stage venture capital investors (VCs) and angel investors from extensive networks |
Yes |
Yes |
| Building the startup team |
| Match founders to the right external mentors and domain expert consultants as needed. This support and access to Imperial’s networks will continue during the whole startup journey |
Yes |
Yes |
| Provide low-cost external recruitment service for senior leaders and team members. Imperial has agreed a low-cost bespoke service for cash-constrained early-stage companies |
Yes |
Yes |
| Access to mentorship through the Imperial Venture Mentoring Service (IVMS) |
Yes |
Yes |
| Access to technology and market expert advice through the Imperial Technology Experts Service Scheme |
Yes |
Yes |
| The startup process |
| Provide access to a range of template legal documents (vetted by external legal firms) for company formation, licensing of IP and the investment process — including a tax-efficient HMRC-approved process for academic staff |
Yes |
Yes |
| Provide access to a range of template subsidiary documents such as consultancy agreements and non-disclosure agreements, as needed |
Yes |
Yes |
| Provide plain-English explanation of all aspects of the startup process and what to expect as the company grows and raises further funding. Imperial is available to discuss all aspects of the process in detail until founders are comfortable |
Yes |
No |
| Grant access to a panel of external legal firms who offer a fixed-price package to cover the company set-up and licensing process |
Yes |
Yes |
| Offer specialist help to open a bank account |
Yes |
No |
| Provide ‘preferred suppliers’ list of specialist service providers used by our portfolio of startups (wide range of services from manufacturers to designers) |
Yes |
Yes |
| Building value in the startup |
| Provide a board director offering continued support and access to the wider Imperial network as the company grows and faces commercial challenges. This may include guidance on running and documenting board meetings, regular review of the company strategy, and advice on corporate governance |
Yes |
No |
| Offer product/service development. If needed Imperial will bring together the commercial experience needed to help founders address issues and answer questions from prospective customers and users |
Yes |
No |
| Help founders identify experts and advisers who can advise on regulatory requirements and help founders overcome regulatory hurdles |
Yes |
No |
| Provide continuous support in all aspects of successive funding rounds |
Yes |
No |
| Co-ordinate Due Diligence. Larger funding rounds will require a data room – Imperial will help founders outline the documents needed and review those from the prospective Investor to highlight any concerns in advance |
Yes |
No |
| Provide support in preparing for an exit (acquisition or IPO) process including engaging the right advisers and lawyers and working with founders on all aspects of the process |
Yes |
No |
| Wider support |
| Introduce founders to the Imperial White City Incubator (lab and office space or virtual tenancy) |
Yes |
Yes |
| Support founders to find alternative locations if no space is available in the Imperial White City Incubator |
Yes |
No |
| Provide access to a range of training seminars (for example roles and responsibilities of a director) under the Innovation Academy programme, and provide access to Imperial community networking events, workshops and seminars with other startups |
Yes |
Yes |
