GAN Xcelerate Fund

Are you Angel-Ready? Here is our 15 POINT CHECKLIST 

This checklist will used by the GXF selection committee to assess your business’s ability to be Angel Ready in 6 – 12 months. You do not need to have all of these points completed upon application, rather, the Selection Committee is looking for your current status, and your plan to achieve Angel Ready status in a short period of time and that the funds you have will be sufficient to get to Angel Ready status.

Market – Product Fit

  • Proof that there is an minimally viable product (MVP) that has a good fit with a large market:
    1. Description of customer value proposition;
    2. Evidence of market research that has been completed;
    3. Addressable market clearly articulated;
    4. Clearly define business model; and
    5. Proof that actual sales to-date are real sales with target customers.
  • Proof that there is a compete marketing plan with the full cost to acquire a customer calculated , together with the lifetime value of a customer. The plan would include a fully developed brand and a fully functional website that coveys the brand promise.
  • Complete competitive analysis.
  • Great narrative (story) and complete presentation deck. The narrative should describe the pain and problem being solved, and how your unique solution is exactly what a customer will pay for.

    Data Room / Governance / Legal

  • Data room established with complete documentation (incorporation documents, financial plan, tax returns etc.)
  • Registration with GUST, all documents uploaded.
  • Registration with RIC or innovation centre – preference for HBEC, VentureLab or Innovation Guelph.
  • Intellectual Property secured – trademarks, provisional patents filed.
  • Corporate legal paperwork complete including shareholders’ agreement and Board governance structure in place.

Financial Plan

  • Ability to secure government funding – applications complete and pending.
  • OCE Smart Start Application complete and approved by OCE.
  • Forward looking fund-raising plan, including monthly burn rate and milestones that define each future funding round.
  • Cap table and use of funds raised to-date.
  • Realistic valuation expectations and deal terms.
  • Growth plan to achieve 40x current valuation.

   Angel Ready Criteria – 15 Point Checklist
   Angel Ready Application Outline