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The Gauntlet
What is The Gauntlet?
The Gauntlet is a groundbreaking web-based service, which provides entrepreneurs with the inside track on how investors think and what it takes to get them to invest. It represents the culmination of over 10,000 hours invested by Library House researching best practice amongst successful venture investment firms and reviewing current commercial and academic assessment models from which a methodology and system has been distilled that interrogates innovation companies structured around 16 investment criteria. These 16 areas are organised around 4 key themes: the Innovation, the Team, the Market and the Investment. Gauntlet users will answer questions in each of these 16 areas and be provided with a wide range of educational resources to support them with their responses. Every entrant completing The Gauntlet receives a personal, confidential Report Card assessing their investment readiness, with detailed feedback to support the assessment.
Hundreds of thousands of Pounds have been invested in constructing The Gauntlet. More than 50 successful entrepreneurs and investors have invested their knowledge and experience and have contributed top-tips, candid insights into their 'big breaks', video vignettes and a host of other inputs that make The Gauntlet such a rich and authoritative resource.
The Gauntlet describes the DNA of a successful venture. By learning from the mistakes and success of other past and current entrepreneurs, this original and valuable source of knowledge combined with a detailed exploration of the entrepreneur's own business, enables those that run The Gauntlet to improve their companies and by doing so, improve their investment readiness.
Why Should I Run The Gauntlet?
Clearer goals: The self-assessment leads to a powerful Report Card, highlighting your strengths and weaknesses as they would be seen by an investor. This lets you understand precisely which targets you need to hit to achieve maximum impact instead of the scatter-gun approach so many start-ups have. You'll understand exactly how investors will view you and your business when you are face to face with them..
Ideas and inspiration: Learn from and be inspired by some of the most successful investors and entrepreneurs around. They'll tell you how to build a successful start-up via candid interviews, videos that illustrate both 'what to do' and 'what not to do', relevant case studies and bitesize 'how-to' articles.
Team alignment: A misaligned team with different answers to the same investor question can be the nail in the coffin for an aspiring company because investors know that an unfocussed team rarely succeeds. Make sure you all Run The Gauntlet - answering the questions not only aligns the team but often provokes deep and fruitful discussion and could plant the seed for your next killer product or market.
Exposure and credibility: Running The Gauntlet enables you to show an investor your Report Card which may well stimulate their interest. No one can guarantee an investment, but by running The Gauntlet, you are demonstrating your serious intent and enthusiasm which are key factors to taking your venture to the next stage.
What Kind Of Feedback Will I Get?
Once you have completed the self-assessment, you will immediately receive a Gauntlet Report Card, highlighting areas of strength and weakness. The Report Card will include a score and in-depth analysis of each of the 16 areas and the ability to compare how you scored against what investors are looking for.
A powerful spider diagram is included as part of the Report Card, comparing you against different types of start-ups favoured by investors, as well as your industry peers:
Another area of the Report Card provides an at-a-glance summary of strengths and weaknesses. By clicking on each of the 16 areas, you will be able to access in-depth feedback on why you scored Red, Yellow or Green and advice on how to improve your business and answers in preparation for when you meet investors:
What Kind Of Content Do You Provide?
The Gauntlet includes a wealth of original educational material especially designed to be of immediate practical use. These include original videos, interviews, case studies, articles and a 250-word start-up investment readiness glossary - one of the largest of its kind.
- Top-tips and practical advice from in-depth interviews with over two-dozen highly respected investors and entrepreneurs.
- Learn and utilise the competitive secrets of 20 of the most exciting innovation-based companies in Europe and the US.
- Understand and implement the powerful techniques that experienced entrepreneurs and investors use to value companies, defeat competitors and structure deals.
Who Can Run The Gauntlet?
- The Gauntlet is designed to help innovation-based companies that have the ambition to secure investment from professional investors including business angels and venture capital firms.
- The Gauntlet experience can be undertaken by an individual entrepreneur, a small group or an entire team. Many entrepreneurs find it valuable to engage their team when running The Gauntlet to provoke discussion and achieve a common understanding about the development of their business. Don't forget that you can take as long as you like to finish the assessment in order to take full advantage of the wide range of resources available on the site.
- Many companies that run The Gauntlet are start-ups that have not yet received venture capital investment. Your company may have only just been formed, or you may have been in existence for a while and have already received funding from e.g. your own resources, friends, family or angel investors.
- Companies that have already received venture capital investment can also benefit from The Gauntlet particularly when you are looking to attract new investors to lead and price the next round of investment.
- The Gauntlet is also available for use on an internal basis by technology transfer offices or departments of universities or corporations to assess the investability of potential spin-outs or by other government or private organisations both to assess the investment potential of innovation start-ups and to develop the investor-awareness of management teams.
What does it cost?
To run The Gauntlet will cost you £299, this allows you to run through the process once, and any subsequent runs require you to create a new account, which requires a further £299 payment.
Can I Run The Gauntlet More Than Once?
Yes, you can run The Gauntlet as many times as you want. You will need to wait at least a month between runs to give you the opportunity to absorb the feedback and make the changes that will improve your score the next time you run The Gauntlet. But other than that condition (and where necessary paying the fee!), you can run The Gauntlet as many times as you want. Hopefully, you will see the benefits of the changes you are introducing in your business evidenced by improvements in your ability to answer the questions and a better score.
Do I Have To Answer All The Questions In Gauntlet?
Yes - the Report Card is generated from the responses you provide. If you have not answered all the questions, you will not be able to progress and receive your Report Card.
How Advanced Does My Business Have To Be?
On the basis that it is never to early to understand how investors think, The Gauntlet is a valuable resource and experience for private innovation-based companies at any stage in their development, from formation through later stage businesses.
Can I Enter Even If I Am A One-Man Band?
Yes - the size of your company isn't important, it's the innovative quality of your idea and investment readiness of the business that matters.
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