The Seed Fundraising Canvas distils the key questions or criteria that seed investors use to assess the attractiveness of a startups funding request.
Seed Fundraising Canvas
(Or you can download the Seed Fundraising Canvas – to print out and use – here)
The Seed Fundraising Canvas focuses on six key areas (more details to follow soon):
Is your MVP or prelaunch list, despite its flaws, gaining traction with users and / or customers?
(So, what we really want to know: do you (and your team) have a bias towards execution?)
Are you attacking a large, stable market…or…a nascent, fast growing market that will (likely) be very large?
(So, what we really want to know: is your idea only recently possible?)
What’s the insight (or IP) or clarity that you have for your product / service in this market – is it brand, technology, distribution, speed or cash?
(So, what we really want to know: what is unique (and defensible) about your startup?)
Is / are the founder(s) likeable? Do people want to spend time with you? Are you resourceful and ambitious?
(So, what we really want to know: are you adaptable and open to feedback?)
The goal is to lead at the end of the marathon, not after 100 yards – why will you be able to finish the race, first?
(So, what we really want to know: does your history substantiate why you need to pursue this?)
Does your startup have a clear and measurable customer acquisition path – that you can leverage with more investment?
(So, what we really want to know: are you going to waste money on marketing?)
Seed Fundraising Canvas – how to use it
There are a number of different ways to use the seed fundraising canvas. You can, obviously, use it when you are ready to raise seed funding. Or, you can use it earlier in your startup development to help focus on the goal you have in mind; namely, raising a seed investment stage.
However, even if you are not yet or will never or already have raised seed funds, the 6 core questions should be something that every high growth startup can answer – quickly, easily and with agreement across your team.
Hence, you can also use the canvas for an away day exercise – just to check that everyone is on the same page. You can check-in on your previous canvas – to see if (or how) your answers change and what insights (and opportunities) that offers you.
Think of the canvas as a framework – use it to have fun, tease out insights and develop your growth strategy with common goals and shared understanding.
The Seed Fundraising Canvas is part of a series of business model canvases. These can be used as diagnostic tools or to create a shared team focus etc. To view the other two canvases – Breakthrough Business Model Canvas and the Scaleup Canvas – check out our dedicated business model canvas page here. Or, for more history and alternative canvases, check out the wikipedia page here.