“ A company's management is often surprised on how long it takes to raise capital. The typical length of time between the initial contact and the disbursement of funds is 6 months. ”
Finding capital for growth businesses can be a daunting endeavor. The SEGF encourages managers seeking capital to educate themselves on the venture capital process. For more information on venture capital, please visit the Resources page.
A company's management is often surprised at how long it takes to raise capital. The SEGF encourages companies to start the process early and begin to contact potential investors long before the capital is needed.The typical length of time between the initial contact and the disbursement of funds is 6 months. The chart below represents a typical timeline.
Before contacting the SEGF, or other potential investors, consider the following:
Know your Business
Articulate your business model and the products value proposition, and clearly demonstrate the amount of capital your company will need to achieve its objectives. Present this in a succinct and easy to understand executive summary.
Learn
Venture capital is not right for every business. In order to determine if venture funds are right for your business read: “A Primer for Venture Capital in Maine” and visit the Resources page. In addition, attend networking events like the monthly PubHub, sponsored by the Casco Bay Technology Hub.
Alternative Sources of Capital
Other sources of capital include family and friends, Small Business Innovative Research (SBIR) grants, Maine Technology Institute (MTI), Maine Angels, other individual (angel) investors, regional angel groups (e.g. eCoast Angels), Coastal Ventures, bank loans, and SBA/FAME backed bank loans.
To start the process Contact Us