Companies meeting the selection criteria and wishing to present to E8 begin with an online application in ProSeeder™, an investment tool for managing deal flow.
Applicants must upload the following documents when they apply: executive summary; business plan; financial plan; and, presentation deck.
The first-time application fee of $200 is being temporarily waived, beginning October 1, 2018, thanks to the generosity of E8's Sponsors.
Each month, a number of pre-screened companies are provided a 20 minute opportunity to present to our Screening Committee via WebEx conference call.
Entrepreneurs have 10 minutes to review their pitch decks, followed by 10 minutes of Q&A.
E8 selects two to four companies to present at our next monthly membership meeting. Occasionally, a company will be invited to a meeting later in the year.
Companies selected to present are offered a ‘coach’ to answer questions about E8 and to provide feedback on their presentations.
4. MEMBERSHIP MEETING PRESENTATION
This is the first exposure for selected companies to our membership, which takes place during a monthly lunch meeting. Entrepreneurs are provided 10 minutes to review their pitch decks and present their investment opportunities.
Questions from the audience, both from those attending in person and those live-streaming the meeting, will be solicited and curated using an online tool for audience interaction. The entrepreneurs can see each question as it is published. After all companies have given their pitch, each will be invited back up in the same order to answer, in about 5 minutes or so, the most pressing questions.
5. MEMBER FEEDBACK
At the end of each meeting, members fill-out a feedback form detailing what they think are each presenting company’s strengths and weaknesses. These are later summarized and sent to each company.
The form also asks if a member is interested in considering due diligence. A list of interested members, along with their email addresses, is forwarded to each company.
The goal of a pitch is not to solicit immediate funding. It is to establish sufficient curiosity and credibility to trigger a follow-on meeting.
6. FOLLOW-ON MEETING
If there is sufficient interest, E8 holds a 90-minute follow-on meeting, typically the Wednesday morning the week after the initial pitch.
This is a chance for the entrepreneur to review their pitch in more detail, cover critical areas in more depth, and to participate in a robust and lively discussion. The entrepreneur may attend in person, or via teleconference, and may bring other participants who can discuss the product or technology, the market, and the business strategy.
The follow-on meeting determines if there is sufficient interest from our members to form a due diligence team.
7. DUE DILIGENCE
Members interested in a particular company join forces to conduct comprehensive due diligence prior to investment. E8 understands that due diligence places a burden on the entrepreneur and works to ensure that the process is completed in a few months, with a definite decision at the end.
Some decisions will not offer funding, but others may take the form of 'please return when you've met the following milestones and we will re-consider'.
Regardless of outcome, a summary due diligence report will be provided to the entrepreneur.
8. FINAL DOCUMENTS AND CLOSING
Upon successful conclusion of the due diligence process, investors make individual investment decisions and work together to finalize closing documents.