Impact Hub Vienna and primeCROWD, a network connecting startups with investors, are partnering together, synergizing each other’s strengths to offer entrepreneurs an attractive opportunity that makes them investment ready through the Investment Ready Program (IRP) while connecting them with investors from Impact Hub Vienna’s & primeCROWD’s extensive network.
Florian Übelacker, Chief Commercial Officer of primeCROWD and Lena Gansterer, Co-Founder of IRP, sat down to talk about what’s special about the new partnership, working together, and the benefits for entrepreneurs.
Could you tell us a little bit more about primeCROWD?
Florian: We are an Angel-crowd investing platform and help selected startups to get funding–we vet them, we present them to our investors, and ultimately our mission is to enable startups to pursue their dreams. That’s what we stand for.
What will this new partnership look like?
Florian: Good ideas arise in liquid networks where cooperation and openness is valued more than protection. Our partnership will focus on this ethos through co-hosting events, raising awareness, and coaching and mentoring startups by helping them overcome hurdles, spark new ideas, have fun, and ideally also get funding.
Lena: Our ambitions and vision for this partnership are the same. Right now, the focus of the partnership is the Investment Ready Program and getting entrepreneurs access to the right investors. Many of the entrepreneurs we work with are social entrepreneurs who are looking for investors interested in impact investing. Partnering with networks such as primeCROWD helps us to have access to investors that our startups might not otherwise meet.
Why is this an exciting opportunity for entrepreneurs who take part in IRP?
Lena: Throughout the program, entrepreneurs receive a great deal of expertise, support, and guidance from mentors affiliated with Impact Hub Vienna. primeCROWD is now joining our expert pool and will support entrepreneurs from day one in the program. It’s really the best of both worlds.
Florian: Exactly but not only that, our network of investors is a very inclusive network. Since the return on social impact investments can be considered equal to standard investments, these kinds of investments are not just for impact investors–it makes sense for traditional investors to look at these opportunities too so we facilitate these relationships. Social ventures can offer attractive returns. It’s not just about the cause.
What kind of guidance and support can IRP participants expect from this partnership?
Florian: We are here to help entrepreneurs, who have traded financial security and stability for uncertainty, to navigate successfully through this very period of uncertainty. We work a lot with investors so we have a very clear understanding of what they value and know more often than not down to the individual level what an investor likes. We can help entrepreneurs by showing them what kind of questions they can expect from specific investors and thus what pitches they should use.
Lena: We partner with several investor networks and primeCROWD really has a special network in Austria and the know-how about how to structure a co-investment deal. Co-investment deals lower the risk of early-stage investments for the first investors and therefore are an important tool for the entrepreneurs we work with in the Investment Ready Program.
How can people learn more about this opportunity?
Lena: Join the Impact Hub network! Sign up for the next Investment Ready Program!
Florian: Pick up the phone! Give us a call, tell us your story, and why we should care. We will listen.