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Fundraising: How important is it for a two month old startup to have a business plan and/or financial projections when seeking seed from angel investors?
PK
PK
Peter Kemball, CEO at The Kemball Group answered:

Most firms are not able to create enough wealth to pay the going rate for angel capital, more than 10 time capital invested, and leave an equal amount for themselves and those in the firm.
What basis do you have for thinking your firm would be an exception? Have you received a Critical Factors Analysis profile from the CIC at Waterloo?

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